Time to give America a raise!

[Swish]

Originally Posted by Vilkata [You must be logged in to view images. Log in or Register.]

Maybe people are in debt because the money they make cant buy as much as it used to?

That, plus every time the Federal Reserve (or other other equivalent) prints money it attaches a small extra amount to each dollar (not quite $1.01, but more than $1)... so the debt cycle isn't breakable, there'll always be more debt than people can pay off. If everyone paid off all their debts across the world, the world would still be in debt.

More here if interested... its pretty dry stuff though :/

[Kevris]

No.

Everquest live may be all about grinding max level to raid, but 99 is all about the journey.

No bonuses!!

[Aaron]

Originally Posted by Vilkata [You must be logged in to view images. Log in or Register.]

Maybe people are in debt because the money they make cant buy as much as it used to?

The dollar is worth more today than almost anytime throughout history, except for the mid 60s when it was at its highest.

[Vilkata]

http://www.usinflationcalculator.com/

http://www.onlygold.com/TutorialPage...es200yrsfs.htm

[Leeyuuduu]

Despite all the QE, US inflation is also very low right now, as with almost all first world countries (Japan has been in deflation for almost 20 years and parts of Europe could follow soon), due to low demand/austerity policies, so the FRB's "money printing" is not actually having as adverse an effect on the US economy as some think. It's actually affecting developing economies more, as it's an easy source of money for them, and as QE keeps getting curtailed the USD will get stronger and these developing economies may panic a little.

Minimum wage has become a question of politics now rather than economics. Is it worth having +X amount of people laid off if the rest of the workers can have a higher quality of life? It's the price you must pay with wage floors, but politicians won't confront it.

[loramin]

Originally Posted by Swish [You must be logged in to view images. Log in or Register.]

That, plus every time the Federal Reserve (or other other equivalent) prints money it attaches a small extra amount to each dollar (not quite $1.01, but more than $1)... so the debt cycle isn't breakable, there'll always be more debt than people can pay off. If everyone paid off all their debts across the world, the world would still be in debt.

More here if interested... its pretty dry stuff though :/

I'm not sure that's quite right: normally inflation helps people with debts, and hurts debtors.

Let's say I borrow a buck from you, and then the Fed makes a bunch of money, inflating the economy and making the real value of a buck $0.99. Now I pay you back that buck, but as I just said it's really only worth $0.99. I as debtor got $1 of real value from you, but I only had to pay you back $0.99 of real value.

Now don't get me wrong, I'm no fan of the Fed, but based on my radical left-wing highschool history teacher's explanation of things I do believe printing money hurts debtors, not debtees.

[Swish]

Originally Posted by loramin [You must be logged in to view images. Log in or Register.]

Let's say I borrow a buck from you, and then the Fed makes a bunch of money, inflating the economy and making the real value of a buck $0.99. Now I pay you back that buck, but as I just said it's really only worth $0.99. I as debtor got $1 of real value from you, but I only had to pay you back $0.99 of real value.

We're further down the chain than that, a dollar passed between two people is still a dollar. On its creation it had the slightest amount of debt added to it. Between two people its value doesn't change, we can never escape that extra fraction of a sent that was added to it even if we gave it back to the Federal Reserve. On a scale of trillions, that really begins to sting all societies.

I'm no economist, but watch as much as you can of this: http://youtu.be/EewGMBOB4Gg?t=4m25s

[JayN]

Please just give us hard working common men a lil exp bonus, in remembrance of brother zade

[Potus]

Originally Posted by Swish [You must be logged in to view images. Log in or Register.]

Spirit of 1917 [You must be logged in to view images. Log in or Register.]

One can only hope

[You must be logged in to view images. Log in or Register.]

[joe426]

controlled inflation def helps the people paying back their debts. the average american isnt paying attention to extra fractions, but the banks are because theyre dealing with millions of people and that shit adds up.

usa is a huge consumer market, raising the minimum wage and giving ur people more money to spend(buy prodcuts promotes good business) or save(pay back banks so they can loan out more money) would be good.

First question, how much? $10.00 seems a lil too much barack but i like how u negotiate. $7.25 minimum wage is kinda low and could use a bump. not sure what it compares to other countries and their cost of living.

The second question is who will pay for this increase in wage? there has to be a balance of businesses laying off a few workers, businesses increasing their prices a bit(pass on the increased price to the manufactures), and forced innovation from businesses to figure out how to do business better.