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What Happens After July?

Discussion in 'GatorNana's Too Hot for Swamp Gas' started by tarponbro, May 28, 2020.

  1. mdgator05

    mdgator05 Premium Member

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    I don't think anybody denies that a closed store is not going to have customers or workers. However, just telling them to get back to work won't solve the issue without the feeling of safety. Many of the re-opening advocates have taken the dismissive "Well you can just stay in your bunker" rhetorical strategy, but that doesn't work for businesses. If everybody concerned about this "stayed in their bunker" the businesses would either fail and/or not hire back all or even close to all of their employees.
     
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  2. CaptUSMCNole

    CaptUSMCNole GC Hall of Fame

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    No one is going to do that. It is not economically sustainable without significant inflation. Having to pay unskilled labor $24/hr is insane and would increase the COGS of almost every industry.
     
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  3. tarponbro

    tarponbro All American

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    Stores are opening, most with social distancing policies, which aren't mandatory in any store I've been in. Let's see how much business they're doing in about a month, excluding essential businesses such as grocery stores.
     
  4. snatchmagnet

    snatchmagnet Bring On The Bacon Premium Member

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    Which was what the PPE was supposed to accomplish. Except it flamed out. Some of these other states gotta step up
     
  5. nolancarey

    nolancarey GC Hall of Fame

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    So we relegate ourselves to the "necessity" of a haves and have not society. The gods and clods mentality. Should we aim so low?
     
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  6. snatchmagnet

    snatchmagnet Bring On The Bacon Premium Member

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    Socialism has failed throughout history
     
  7. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Seems like it's own topic, and I don't disagree, but I mean who decides that?
     
  8. mdgator05

    mdgator05 Premium Member

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    First, there is no indication that the inflation would 100% wipe out the gains. Not every object or service purchased would be increased in cost by that degree, so it is highly likely that the inflation would only partially wipe out the gains.

    The other issue on minimum wage and inflation is that, post-2008, creating inflation to avoid deflation has led to continuously low interest rates, even in growing economies, limiting our ability to monetarily react to crises without having to go into negative interest rates or deflation. As such, it might be better to engage in other inflationary strategies that allow for us to, even in a good economy, increase interest rates somewhat. Employment declines are probably a better argument against minimum wage than inflation.
     
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  9. nolancarey

    nolancarey GC Hall of Fame

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    Are you tacitly admitting that society needs to have an immobile underclass? I don't agree with that.
     
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  10. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Would we then require people to maintain a savings account?
    I mean again, who decides how much someone needs for savings? We all have different levels of which our money becomes disposable.

    Then there is the fact that burger flipping was never meant to be a living wage type of job.
    Teenagers don't need $15/hour.

    I agree with you in principle, but it is not really very easy to fix. Should EVERY job pay a adult living wage?
    If not, which sectors?
     
  11. tampajack1

    tampajack1 Premium Member

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    The real absurdity is the likelihood that unaccounted for trillions are going to end up in the pockets of big businesses and the wealthy. Is it that big a deal for someone making $800 a week, for example, to now make a thousand a week for a very limited period of time. These people live from paycheck to paycheck. Now they are stuck with kids at home and other issues. They are going to spend every penny they get, which probably is the best form of economic stimulus. Many of them won’t get their old jobs back, so if they can make a little more right now, it might help them deal with the rocky road ahead.
     
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  12. nolancarey

    nolancarey GC Hall of Fame

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    Hopefully society at large. Look at the digital understanding of marriage equality from 1996 to 2016. Things can change with pervasive repetition and subsequent understanding.
     
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  13. snatchmagnet

    snatchmagnet Bring On The Bacon Premium Member

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    Inflation/deflation is typically a result/byproduct of states of economy. Controlling it is like riding a bull. And yes, typically a raised minimum wage ends up becoming a zero sum gain after 18 months. Only thing it accomplishes is an increased GDP
     
  14. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    I keep hearing these polls, but My Home Depot near my house has people parking on the grass on Saturday. Same with Lowe's. People might be nervous about shopping, but they are still doing it.

    Not questioning you, as I have seen the same polls, but my eyeballs tell me things aren't quite that bad.
    Also remember that brick and mortar is not the only indicator. People are still buying, they just may be doing it from home. Many local businesses are even getting in on this game.
     
  15. CaptUSMCNole

    CaptUSMCNole GC Hall of Fame

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    How about those unskilled labors that are only earning minimum wage, either learn a trade to be come skilled labor or go to school and get a degree? Which is often what happens since only 2.7% of the US workforce earns minimum wage. Most employers will tell you that if they find a good employee that shows they are willing to work hard and put in the effort to learn and get better, they are happy to continue to promote them and increase their pay in order to retain them.
     
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  16. nolancarey

    nolancarey GC Hall of Fame

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    Why shouldn't burger flipping be worthy of a living wage, even if done by a teenager?

    One cannot currently save on one minimum wage income. I'm sure there are specific stats that would give you the best layout of what you need for necessities in your area for an individual. Maybe assume one dependent. Whatever that cost is, add some sum that would be meaningful in order to put into savings. There will always be people who chose not to save, but if so they are putting that money right back into the economy.
     
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  17. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Society? No.
    Democratic politicians? Yes.

    Lobs grenade. Runs away. Giggles like a school girl. :D:D:D
     
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  18. tilly

    tilly Superhero Mod. Fast witted. Bulletproof posts. Moderator VIP Member

    Because my wages already pay for the living of my two teenagers.
    (The nine year old is the one that eats me out of house and home though. :confused::p)

    My girls have everything they need. I supply them with food, clothes, phones, gas in the car etc.
    Their jobs (when they start working) will be for savings and spending money. It wont be for making a living.
     
  19. CaptUSMCNole

    CaptUSMCNole GC Hall of Fame

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    Because a teenager does not typically have to pay rent or a mortgage and they are getting to learn a skill that is their entry into the labor force. If that teenager stays at the job from 16 to 18 and can now lead a shift at the restaurant or become a very good cook, they are going to be paid more than minimum wage. Minimum wage is typically only paid to people entering the work force or re-entering the work force for unskilled labor.
     
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  20. nolancarey

    nolancarey GC Hall of Fame

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    Ok, but carry that to the next logical progression. What could they do with that extra money? Would they need to take out loans for UF?

    The main problem with increased wages, it seems to me, is the mitigation of inflation. For that I offer no obvious solution.
     
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