Wages go down when your supply of labor goes up by about a million new immigrants a year. its so unbelievable stupid and disingenuous for democrat shills to complain about wages when they support massive immigration like they do. Who the hell is supposed to be for massive immigration... big business. Who the hell owns the democrats... big business.
No, foreign workers. Where the jobs were exported to. I'm not talking about fast food jobs. Those will absorb price and workers will be laid off through automation.
I have to wonder why productivity and household income rose together for decades, but now if we retie them it will be a problem. The so-called glory days (presumably the place we go when we maga) of America were a time when Labor was taking a larger slice of the economic pie relative to Capital than it is today. I say that's because the middle class was broader. And that it was broader because unions leveraged a larger slice. Unions were prevalent because of the gross inequality of the turn of the century, which bred dissent and activism, and eventually led to the New Deal. I welcome automation, if we all get to own it.
The supply of labor also increases when capitalism offshores. And during the unending stream of downturns and recessions. I'd go ahead and factor in the booms but, as I mention below, from those Capital is benefiting more than Labor lately. Besides, the deflationary pressure on the economy while population is shrinking is enormous, which is why the advanced economies are competing for immigrants.
Biden is appointing really smart people around him. I mean....like...take a look at this genius. https://www.breitbart.com/law-and-o...-spox-called-police-threat-national-security/ Report: Biden State Department Spox Called Police a ‘Threat’ to ‘National Security’ Jalina Porter, the Biden State Department’s deputy spokesperson, once called the police a “threat” to “national security.” Porter wrote in a 2016 Facebook post that “U.S. cops” posed the greatest national security threat, more than that of the Islamic State (ISIS) and Russian hackers because of the killings of black Americans. “The largest threat to U.S. national security are U.S. cops,” wrote Porter, according to the Washington Free Beacon. “Not ISIS, not Russian hackers, not anyone or anything else.”
So you found one stfu, I can find 20 from the previous administration. Answer the previous question, are you fearful that Biden will make the economy as bad as it was in Obama's last year? You did say you were fearful for the Biden economy.
1. I am not in favor of the hollowing out of America via off shorting. I have been against that concept for a decade. We never should have allowed our banks and major corporations to reap such rewards from the process. (from crazy tax policies to the lack of tariffs... Perot was right back when I voted for him.) 2. Capital is benefitting because we are taxing the shit out of families which own businesses and then shutting them down during Covid. Taxing the hell out of the middle class and small business class benefits what you would call the rentier class. 3. Deflationary pressure? ... what the hell... we have had 500 to a 100 percent inflation during the last 30 to 50 years depending on how you measure it.
I make it a rule of thumb to not waste time answering retarded questions. However, since you asked twice, the answer is that the two are not correlated.
Let's take a look at the practical reality of what happens when governments force an increase in minimum pay... even when the pay increase is temporary. Long Beach Ralphs, Food 4 Less stores to close over $4 ‘hero pay’ boost for grocery workers https://ktla.com/news/local-news/ra...ver-4-hero-pay-boost-for-grocery-workers/amp/ Kroger, the parent company of Ralphs and Food 4 Less, will soon shut down two of its stores in Long Beach in response to the city imposing a “hero pay” increase of $4 per hour for some grocery store workers. The Ralphs at 3380 N. Los Coyotes Diagonal and the Food 4 Less at 2185 E. South St. are slated to close on April 17, the company said Monday. In announcing the closure, Kroger cited a recently passed Long Beach City Council ordinance that mandated the hazard pay bump for at least 120 days amid the increased health risk to workers during the ongoing COVID-19 pandemic. The new law affects grocery stores with at least 300 employees nationwide or more than 15 employees per market in the city. “As a result of the City of Long Beach’s decision to pass an ordinance mandating Extra Pay for grocery workers, we have made the difficult decision to permanently close long-struggling store locations in Long Beach,” a company spokesperson said news release. “This misguided action by the Long Beach City Council oversteps the traditional bargaining process and applies to some, but not all, grocery workers in the city.” Kroger, which issued a $2 pay boost at the start of the pandemic, noted that it has already spent about $1.3 billion to reward associates and implement dozens of coronavirus-related safety measures since March, when the virus’ spread began accelerating in the U.S. That’s on top of other additional benefits offered to employees during the pandemic, including paid emergency leave, the company said. The decision was criticized by a union that represents 22,000 workers — among them grocery store employees — in Orange and parts of Los Angeles County. “After everything they’ve been through and all the sacrifices and the service our members have provided Long Beach during the pandemic, Kroger responds with this chilling message to workers,” Andrea Zinder, president of UFCW Local 324, said in the union’s statement. “Kroger closing these stores is a clear attempt to intimidate and discourage workers from standing up and using their voice to create better working conditions and wages.” The California Grocers Association, which represents more than 300 retailers and opposes the ordinance, issued its own response to Kroger’s decision, saying it had previously warned that the new law could result in store closures. “This is truly unfortunate for the Long Beach community, its grocery workers and consumers, but not surprising given the magnitude of the Council’s actions,” Ron Fong, the group’s president and CEO, said in the statement Monday. “We repeatedly warned that a $4/hour increase would have major unintended consequences – including potential store closures, the reduction of work for employees, and higher grocery costs for customers.” But the city’s effort to boost pay for many grocery workers had also earned praise, including from the Long Beach Coalition. “It is shameful that big grocery companies, which are raking in record profits during the COVID-19 pandemic, are attempting to deny their workers the compensation they deserve,” Víctor Sánchez, director of the Long Beach Coalition for Good Jobs and a Healthy Community, told KTLA in a statement after the council unanimously voted for the law. A similar measure was also approved by the L.A. County Board of Supervisors last month. The $5 per hour increase applies to grocery and drug stores in unincorporated parts of the county that are publicly traded companies or have at least 300 employees nationwide.
In fiscal terms then, perhaps "not correlated" means that you think Biden might increase discretionary spending, and cut taxes on the rich. I.e., the opposite of what Obama did.