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Private Briefingwith WILLIAM PATALON III, Executive Editor
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"Obama's re-election adds and retracts nothing to American "civilization". The United States is a declining power economically (despite the exploitation of shale gas) and strategically. It is just the centre of an Empire, and Proponents of this "Empire" strive in vain to delay the collapse. Economically, it continues to borrow and the U.S. Federal Reserve is also currently the only to buy U.S. Treasury bonds by creating more dollars, which will inevitably lead to the collapse of the dollar. Militarily it continues to seek to undermine the position of the other regional powers such as Russia. We can see today in Syrian clash that Russia and China defend conceptions of respect for authority while American and Westerners support extremist and dangerous insurgencies. These uprisings brought Islamism to power in Tunisia, Egypt, and Iraq, resulting in anarchy and ethnic bursting. If the West continues to accept in its midst millions of Muslim immigrants and to support Islamists in the Arab-Muslim countries, the future of the entire block looks bleak. Its very survival is at stake."
Well, given that a minimum wage increase will now, as it always has, reduce the prospects for black youth employment more than any other group, I have to conclude that Obama is a racist. And this is hard core racism…the deliberate denial of opportunity.
Before we had wage minima, black youth unemployment was LOWER than white youth unemployment and youth unemployment in general was much lower than it was after the laws were passed. Milton Friedman laid the problem with wage minima out in chapter and verse 50 years ago. It's an irrefutable argument. Has no one learned?
Do we want young kids and others with minimal skills to be employed at a wage level commensurate to those skills and have some chance at upward mobility or do we want to shut them out?
Do we want to force employers to automate or get by in other creative ways with fewer staff in order to survive? This is crazy.
The President isn't stupid from an IQ perspective. He must know the problems with the minimum wage. For god's sake, even Janet Yellen does! And he doesn't care. All he cares about is scoring political points.
Is it better to be employed at $7 an hour if that's what your current skills are worth to employers or unemployed at $9? That's what it comes down to.
But hey, the unions want it, because you might be able to have three $7 an hour folks do the same amount of work as one $23/hr union guy using a machine. That won't work with three guys at $9/hr.
As if that extra money to pay the additional $1.75 doesn't come from somewhere. It comes from the pockets of customers and thinner margins for business owners. Actions have consequences. We'll all pay for this stupidity in the form of higher prices AND higher unemployment. As usual, the government comes in the guise of helper only to inflict more damage. But try to explain that to somebody who knows nothing of economics, because he or she went to a publik skool. That person just wants a fatter paycheck. Can't blame 'em. Something for nothing…who doesn't want that? Never mind the consequences.
Just give people stuff you've taken from other people…in this case an extra $1.75 an hour…or borrowed to get…until you can borrow no more and other people are squeezed dry. Thanks Mr. O. Great plan. Thanks for nuthin'.
What did you expect from this Socialist imposter?
OMG…must read from Jeffrey Tucker. Brings the human side of this home in a big way.
i am sooo with "fallingman",
and many companies, and even some wild life organizations just
cannot pay pple at $9.00 a hr. because, they can't generate enough cash for all the other, reasons. ( i even tried to be a small business entreupreneur, so, i know. ) am sure they r not being mean to pple to pay them low hourly that way.
it is always better to work for some job experiences , and to show employer u r serious about working, than to Not able to get in thru the small company's door because there r so ffew job openings, & because the higher minimum wage forces the company / organizations to cut corners this and that.
it is Easy to see.
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The White House has taken notice of a story we've been following very closely here. The rise of Bitcoin. In October of last year,
President Obama summoned Google's executive chairman Eric Schmidt to the Oval
Office and asked him if Bitcoin was something he has to worry about. The answer is yes.
And what's coming could have major implications for global economies and your wealth.
Click here to continue reading this story.