Post by bjspokanimal on Sept 29, 2023 13:35:20 GMT -5
In case you haven't heard, California's government has just mandated that fast food
restaurants pay their fast food workers no less than $20 per hour from now on:
www.reuters.com/business/retail-consumer/california-fast-food-workers-earn-minimum-20-an-hour-under-new-law-2023-09-28/
Boiled down to it's economic roots, this is a function of throwing more money at
something without a corresponding increase in it's production.
Phrasing it another way, it's "too much money chasing too little goods and
services"...
... which is the universal definition of Inflation.
As the Federal Reserve continues to drive up the cost of borrowing and making
it impossible for people to buy a home, the democrat party (which controls
California and it's highly-paid burger-flippers) continues to counter the Fed's
efforts by putting money in voter's pockets for doing nothing.
Just the PROSPECT of cancelling student debt, as Biden's handlers tried to
do late last year, unleashed an increase in consumer spending on increasingly
scarce goods and services as they spent money they Didn't think they would
have to spend honoring their financial commitments. It's just another example
of everything the democrat party is doing since their takeover in 2021 being
inflationary, including their inflationary law they sarcastically dubbed the
"Inflation Reduction Act".
Contrast what we've been seeing this decade with 2017 through 2019, when
tax rates affecting producers and employers were reduced, unleashing commercial
investment, productivity and employment all across America. The result was the
highest GDP growth ever recorded more than 8 years after the most recent
recession, and it happened with barely 2% inflation. Those policies were classic,
"supply-side" economics.
But everything since January 20th, 2021, has been not just Keynesian economics
(the opposite of supply-side economics) but Keynesian Economics on Steroids!!
Massive spending programs on the least, production-inducing recipients in U.S.
history... something that could NEVER result in anything but dramatically surging
inflation.
We knew, a half decade ago, that self-described socialist, Bernie Sander's proposal
of a minimum wage of $15 would result in inflation. Now it's $20 for California
burger flippers, championed by a guy who makes no bones about his aspirations
to be President of the U.S., Gavin Newsom...
... and you though Biden's inflation is bad enough.
restaurants pay their fast food workers no less than $20 per hour from now on:
www.reuters.com/business/retail-consumer/california-fast-food-workers-earn-minimum-20-an-hour-under-new-law-2023-09-28/
Boiled down to it's economic roots, this is a function of throwing more money at
something without a corresponding increase in it's production.
Phrasing it another way, it's "too much money chasing too little goods and
services"...
... which is the universal definition of Inflation.
As the Federal Reserve continues to drive up the cost of borrowing and making
it impossible for people to buy a home, the democrat party (which controls
California and it's highly-paid burger-flippers) continues to counter the Fed's
efforts by putting money in voter's pockets for doing nothing.
Just the PROSPECT of cancelling student debt, as Biden's handlers tried to
do late last year, unleashed an increase in consumer spending on increasingly
scarce goods and services as they spent money they Didn't think they would
have to spend honoring their financial commitments. It's just another example
of everything the democrat party is doing since their takeover in 2021 being
inflationary, including their inflationary law they sarcastically dubbed the
"Inflation Reduction Act".
Contrast what we've been seeing this decade with 2017 through 2019, when
tax rates affecting producers and employers were reduced, unleashing commercial
investment, productivity and employment all across America. The result was the
highest GDP growth ever recorded more than 8 years after the most recent
recession, and it happened with barely 2% inflation. Those policies were classic,
"supply-side" economics.
But everything since January 20th, 2021, has been not just Keynesian economics
(the opposite of supply-side economics) but Keynesian Economics on Steroids!!
Massive spending programs on the least, production-inducing recipients in U.S.
history... something that could NEVER result in anything but dramatically surging
inflation.
We knew, a half decade ago, that self-described socialist, Bernie Sander's proposal
of a minimum wage of $15 would result in inflation. Now it's $20 for California
burger flippers, championed by a guy who makes no bones about his aspirations
to be President of the U.S., Gavin Newsom...
... and you though Biden's inflation is bad enough.
