Brayden, Kayden, Jayden, Hayden, and Blake
You need a Sean in there
“It’ll make costs go up! It’ll cause inflation! It’ll cause a wage price spiral!”
NEWS FLASH! minimum wage hasn’t risen for over a decade and yet prices have risen faster than they did when we did raise minimum wage. Almost like, cheap minimum wages allows for more capital consolidation, and that in turn makes it easier for cartels, oligopolies and monopolies to form to enforce larger margins on low elasticity goods.
Capitalism requires a second class of people who are easily exploited and disregarded by the wider majority of workers in its system usually through propaganda. Racism existed before it but it certainly does benefit from making those different lesser so they can be easier exploited and dehumanized when needed.
The average person is willfully ignorant about inflation because they benefit more from networking with people who believe the bullshit.
Aiden, Braiden, Jaiden, Haiden, and Okaiden, the penta-douche.
Kinda related: At some point I realized inflation is actually kinda good when you have no assets and large debt, because it effectively shrinks your debt. The problem is, I only thought about it well after paying off my debts and gaining some assets, so now I feel like the guys in the pic if I talk about it.
This math only maths if your income keeps pace with inflation. Otherwise you’re getting priced out of living. Even if in relative terms your debt is shrinking, that doesn’t make you better off on its own.
Yeah, that’s where the kinda comes in. From experience, when you’ve got that much debt you tend to lowkey want to watch the world burn, so you’ve got that going too.
… and just like that, you figured out what the FED is for, and that our world economy is based on debt, with inflation used to defraud the hordes of workers from adequate wages.
Once the inflationary economy crashes, banks buy up those previously inflated assets at rock-bottom prices, and the process begins anew.
I’ll show them, I’ll avoid those cyclical crashes by switching to Bitcoin!
Reason for The FED founding… let’s stop those bubbles!
Immediately after FED founding… POP oh no! Well, let’s keep it anyway. It makes JP Morgan so happy, look at him giggling!!
Inflation is either expected or unexpected by the market.
- If it’s expected, then it was already priced into your rate. The “tax incidence” of typical inflation falls on consumers, not lenders.
- If it’s not expected, then the economy is failing and that’s not good for anyone.
That’s ok. The employees can show them what happens when they don’t pay enough for them to live ✨
Buncha numpties
The confidence doesn’t match the argument at all 😭
Australia has one of if not the highest minimum wage.
This economics YouTuber ranks it as one of the best economies, based on his own slightly subjective ranking that factors in both overall strength and egalitarianism.
Survival Of The Fittest, Bro! Let them fight for scarce resources. /s
“Polta lippalakkis nuori…”
