Biden to Urge Federal Reserve to Take on Racial Wealth Gap

Discussion in 'Economics' started by Arnie, Jul 28, 2020.

  1. RGLD

    RGLD

    With leadership like this, I have no doubt China will become the world's dominate power in the coming decades. This kind of stupid thinking, the chinese does not share. No wonder all the big corporations are hedging their bets in China.
     
    #101     Aug 2, 2020
  2. Tsing Tao

    Tsing Tao

    So no further answers, Piezoe? Just gone all silent. I kinda knew your BS about a "fair wage" was pretty much BS. Academic with no real world experience.

    Put a real financial in front of you and all of your theories go up in smoke.
     
    #102     Aug 3, 2020
    Bugsy likes this.
  3. RGLD

    RGLD

    Wait what?
     
    Last edited: Aug 3, 2020
    #103     Aug 3, 2020
  4. Inner city violence IS a choice. Drug use is a choice. Having babies by the age of 16 is a choice. People do not need to act that way. Unless you do not believe in free will of course.
     
    #104     Aug 3, 2020
    Bugsy likes this.
  5. Tsing Tao

    Tsing Tao

    Which part of what I said to Piezoe were you looking for me to clarify?
     
    #105     Aug 4, 2020
  6. ElCubano

    ElCubano

    Being born into inner city violence is not a choice. What part of that doesn’t compute with you or Bugsy?
     
    #106     Aug 4, 2020
  7. piezoe

    piezoe

    Sorry to take so long to get back to you. Been super busy. Earlier I just did a quick estimate in my head using only the difference in wages and came up with~20%. At breakfast I got out my 60 year old Hewlett Packard reverse polish calculator, and with the payroll taxes included its a ~26% increase in price that restaurant will need. A 9 buck meal goes to 11.34. No problem at all when everyone plays by the same rules. And definitely the way to go! I have never been in the food business, so I just assume your example is realistic. It looks pretty good to me, but your in a racket where you'd have a better idea whats reasonable for a restaurant operation than I would, I would guess. Assuming the owner is the manager, she could make a fair living if she wasn't in San Francisco! But as an investment at 6% no.

    We are nationally on an unsustainable path, got to pay people a living wage and stop redistribution of wealth by all kinds of hidden subsidies. Let's have an honest economy.

    Thanks for looking up these example numbers.
     
    Last edited: Aug 4, 2020
    #107     Aug 4, 2020
    ironchef likes this.
  8. Amun Ra

    Amun Ra

    I just don't want Biden putting low income housing in my neighborhood. Give the blacks all the free money they want...it will eventually find its way into my pocket an yway. Who is anybody kidding that they'll be able to hold on to any of that money.
     
    #108     Aug 4, 2020
    Money Trust likes this.
  9. Specterx

    Specterx

    The major reason that blacks have so many problems is the IQ gap - American blacks have a median IQ of 85-87. It's strictly true that they have choices and free will, but an IQ of 85 severely impairs one's ability to plan ahead and make decisions. On top of that, lower IQ is correlated with a higher time preference (immediate gratification).

    Of course American society barely acknowledges the existence of the IQ gap, and doesn't even try to systematically grapple with its implications - though it's one of the most important facts in the world.
     
    #109     Aug 4, 2020
    Money Trust likes this.
  10. Bugsy

    Bugsy

    The part that you allow it to dictate your life choices and actions. The part that you allow it to define you. Are you denying free will exist? You seem to have a problem with reading comprehension as this is the 2nd time you have reinterpreted a post. He stated inner city violence is a choice, not being born into it.
     
    Last edited: Aug 4, 2020
    #110     Aug 4, 2020