News that makes you say WTF! (13 Viewers)

[Ocelot]

The most sensible thing is to save em if you want to preserve the current mechanisms, but I hope we let them break everything. If only this was enough to down the IMF too.

If the Troika really wants to carry on as on they have done the past few years with their "rescue program" & forced austerity measures, it actually even might be in the best interest of Greece to default.

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$15 an hour

http://detroit.cbslocal.com/2015/04/02/mcdonalds-workers-continue-to-protest-after-weak-raise-to-minimum-wage/

You really gotta tie the minimum wage to the annual rate of inflation though.

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And the current minimum wage is like 30% below its levels in the 60es & 70es as well.

 

Buy on AliExpress.com

[Zacheryah]

$15 an hour

http://detroit.cbslocal.com/2015/04/02/mcdonalds-workers-continue-to-protest-after-weak-raise-to-minimum-wage/

Cant expect much from the lowes forms of intelligence in the country

 

[Hust]

If the Troika really wants to carry on as on they have done the past few years with their "rescue program" & forced austerity measures, it actually even might be in the best interest of Greece to default.

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You really gotta tie the minimum wage to the annual rate of inflation though.

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And the current minimum wage is like 30% below its levels in the 60es & 70es as well.

Minimum wage isn't intended to be a "living wage". Besides, they were given a 1 dollar raise and our minimum wage is expected to increase again. But 15 dollars an hour to flip burgers come on man...that's stupidity. And you don't know the kind of people that are protesting and when you see the images you see what I mean. These people would do more for their cause protesting the social policies that got them there in the first place and I BET you some of these people are in their late 20s or 30s fucking working at McDonalds. LOL 15 dollars an hour if it were my company I'd fire half of them and replace as many with machines as I could and I assure you that will be the next movement. Companies like Applebees are already starting that. If they don't like the rate of pay then quit and they will be EASILY replaced by teenagers looking for their first jobs and that's exactly how that fast food company is operating.

Cant expect much from the lows forms of intelligence in the country

Sad but true. I rarely go to MC's but when I do I cringe at some of the drive thrus. These people are doing little to do anything for their lives and decided to make a living in fast food.

 

[AFL_ITALIA]

I get that it makes trade and transactions between the Eurozone countries easier, but are there any other practical reasons for countries such as Italy or Greece to keep the Euro?

Minimum wage isn't intended to be a "living wage". Besides, they were given a 1 dollar raise and our minimum wage is expected to increase again. But 15 dollars an hour to flip burgers come on man...that's stupidity. And you don't know the kind of people that are protesting and when you see the images you see what I mean. These people would do more for their cause protesting the social policies that got them there in the first place and I BET you some of these people are in their late 20s or 30s fucking working at McDonalds. LOL 15 dollars an hour if it were my company I'd fire half of them and replace as many with machines as I could and I assure you that will be the next movement. Companies like Applebees are already starting that. If they don't like the rate of pay then quit and they will be EASILY replaced by teenagers looking for their first jobs and that's exactly how that fast food company is operating.

Sad but true. I rarely go to MC's but when I do I cringe at some of the drive thrus. These people are doing little to do anything for their lives and decided to make a living in fast food.

Don't get me wrong, $15 is quite a lot, but the bolded is certainly not true for EVERYONE. I mean look at me. I graduated college with two degrees and only just this Monday was able to get an actual job (which STILL doesn't pay enough for me to live on my own). If I didn't have the support system that I do, I would've been dead on $9.15 an hour. Certainly not by choice either.

 

[Ocelot]

I get that it makes trade and transactions between the Eurozone countries easier, but are there any other practical reasons for countries such as Italy or Greece to keep the Euro?

Their currency would be hella weak in terms of being susceptible to speculation attacks and be in risk of being consistently overvalued, as many currencies of smaller countries in economic difficulties are.

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Don't get me wrong, $15 is quite a lot, but the bolded is certainly not true for EVERYONE. I mean look at me. I graduated college with two degrees and only just this Monday was able to get an actual job (which STILL doesn't pay enough for me to live on my own). If I didn't have the support system that I do, I would've been dead on $9.15 an hour. Certainly not by choice either.

Choice has very little to do with it.

 

[AFL_ITALIA]

Their currency would be hella weak in terms of being susceptible to speculation attacks and be in risk of being consistently overvalued, as many currencies of smaller countries in economic difficulties are.

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Choice has very little to do with it.

But doesn't that also cause their economies to stagnate and fuck them over because they can't inflate/deflate the currency?

 

[Ocelot]

But doesn't that also cause their economies to stagnate and fuck them over because they can't inflate/deflate the currency?

Yep.

At least with the neo-mercantilist policy that Germany has been employing since Agenda 2010.

 

[Bjerknes]

You really gotta tie the minimum wage to the annual rate of inflation though.

This is the problem with Keynesians. They never get to the root of the problem, nor do they ask why. Their only response is to throw more money at it.

Did you realize that our government and central bank skew inflation numbers? The CPI does not include food and energy prices on a month over month basis, so it's a worthless statistic. How do you "tie" the minimum wage to inflation when you can't even get a truthful number from those that supposedly are the authorities on it?

Fucking inflation is the problem. Get rid of that crap and then you don't need to worry about a minimum wage.

Cant expect much from the lowes forms of intelligence in the country

You mean folks that love government?

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I get that it makes trade and transactions between the Eurozone countries easier, but are there any other practical reasons for countries such as Italy or Greece to keep the Euro?

Nope. Don't listen to the usual BS about the Euro. The market will force their currency down to a level that is sustainable for them, then they rebuild with net exports, which is what is supposed to happen. Under the Euro, their economies are thought to be homogeneous and then they all blow monkey balls.

 

[Salvo]

$15 an hour

http://detroit.cbslocal.com/2015/04/02/mcdonalds-workers-continue-to-protest-after-weak-raise-to-minimum-wage/

McDonalds was my first employer when I was 16, which is sort of the norm down here. I was on about 13 dollars initially then nearly 15 before I quit a year or so later. I do understand things are a little more expensive here but 8 dollars an hour? That shit is ridiculous.

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Minimum wage isn't intended to be a "living wage". Besides, they were given a 1 dollar raise and our minimum wage is expected to increase again. But 15 dollars an hour to flip burgers come on man...that's stupidity. And you don't know the kind of people that are protesting and when you see the images you see what I mean. These people would do more for their cause protesting the social policies that got them there in the first place and I BET you some of these people are in their late 20s or 30s fucking working at McDonalds. LOL 15 dollars an hour if it were my company I'd fire half of them and replace as many with machines as I could and I assure you that will be the next movement. Companies like Applebees are already starting that. If they don't like the rate of pay then quit and they will be EASILY replaced by teenagers looking for their first jobs and that's exactly how that fast food company is operating.

Sad but true. I rarely go to MC's but when I do I cringe at some of the drive thrus. These people are doing little to do anything for their lives and decided to make a living in fast food.

OR it is all they can get?

 

[Bjerknes]

McDonalds was my first employer when I was 16, which is sort of the norm down here. I was on about 13 dollars initially then nearly 15 before I quit a year or so later. I do understand things are a little more expensive here but 8 dollars an hour? That $#@! is ridiculous.

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OR it is all they can get?

Ridiculous how? What makes it ridiculous in the market?

 

[Salvo]

It just seems extremely low, in comparison to here for example. In saying that though I don't know what the average wage in the U.S is. I also don't know how much one needs to get by.

 

[Bjerknes]

Prices are so out of control here (still) that you are essentially poor if you make under $40,000 a year. The hilarious thing about minimum wagetards is that the increase in wage will be passed onto the consumer and therefore offset, which only raises prices for everyone. So the end result is the same. Nobody understands there is no free lunch in economics, it is a zero sum game (literally).

 

[Zacheryah]

This is the problem with Keynesians. They never get to the root of the problem, nor do they ask why. Their only response is to throw more money at it.

Did you realize that our government and central bank skew inflation numbers? The CPI does not include food and energy prices on a month over month basis, so it's a worthless statistic. How do you "tie" the minimum wage to inflation when you can't even get a truthful number from those that supposedly are the authorities on it?

Fucking inflation is the problem. Get rid of that crap and then you don't need to worry about a minimum wage.



You mean folks that love government?

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Nope. Don't listen to the usual BS about the Euro. The market will force their currency down to a level that is sustainable for them, then they rebuild with net exports, which is what is supposed to happen. Under the Euro, their economies are thought to be homogeneous and then they all blow monkey balls.

I can tell you Germany likes this low Euro quite alot. Export is booming, income is catapulting

 

[Bjerknes]

I can tell you Germany likes this low Euro quite alot. Export is booming, income is catapulting

Of course, at the expense of the weaker Euro members.

 

[Zacheryah]

Of course, at the expense of the weaker Euro members.

Mostly yeah.

Altho the weaker members offer pretty good competition on the european market


For example fruits and vegetables. Cheaper to produce in the easteren parts then here in Belgium, hence they can easely undercut the market price with a bigger profit margain.

 

[Hust]

This is the problem with Keynesians. They never get to the root of the problem, nor do they ask why. Their only response is to throw more money at it.

Did you realize that our government and central bank skew inflation numbers? The CPI does not include food and energy prices on a month over month basis, so it's a worthless statistic. How do you "tie" the minimum wage to inflation when you can't even get a truthful number from those that supposedly are the authorities on it?

Fucking inflation is the problem. Get rid of that crap and then you don't need to worry about a minimum wage.



You mean folks that love government?

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Nope. Don't listen to the usual BS about the Euro. The market will force their currency down to a level that is sustainable for them, then they rebuild with net exports, which is what is supposed to happen. Under the Euro, their economies are thought to be homogeneous and then they all blow monkey balls.

Ridiculous how? What makes it ridiculous in the market?

Prices are so out of control here (still) that you are essentially poor if you make under $40,000 a year. The hilarious thing about minimum wagetards is that the increase in wage will be passed onto the consumer and therefore offset, which only raises prices for everyone. So the end result is the same. Nobody understands there is no free lunch in economics, it is a zero sum game (literally).

Of course, at the expense of the weaker Euro members.

Andy

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Throwing more money at the problem isn't always the answer. AFL, I will respond later when I have a bit more time

 

[Raz]

@Badass Vidal They finally caught you?

http://metro.co.uk/2015/04/03/man-ejaculated-into-colleagues-coffee-because-he-fancied-her-5133632/

 

[Badass J Elkann]

@Badass Vidal They finally caught you?

http://metro.co.uk/2015/04/03/man-ejaculated-into-colleagues-coffee-because-he-fancied-her-5133632/

She asked for milk in her coffee

 

[Ocelot]

Prices are so out of control here (still) that you are essentially poor if you make under $40,000 a year. The hilarious thing about minimum wagetards is that the increase in wage will be passed onto the consumer and therefore offset, which only raises prices for everyone. So the end result is the same. Nobody understands there is no free lunch in economics, it is a zero sum game (literally).

Of course it's a zero sum game (at least in the short run), but that doesn't make it meaningless. It's a distributional policy. And unless the whole population is living on minumum wage and has no savings whatsoever, you'll never get an inflation increase that completely neutralises a raise in minimum wage.

 

[Fr3sh]

@Badass Vidal They finally caught you?

http://metro.co.uk/2015/04/03/man-ejaculated-into-colleagues-coffee-because-he-fancied-her-5133632/

Oh god!! And she drank it six times!!!