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WTF is wrong with Joe Biden today?

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illinicalvin

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Re: WTF is wrong with Joe Biden today?
« Reply #540 on: May 09, 2022, 10:01:35 AM »
Quote from: illiniray on May 09, 2022, 01:36:43 AM
I have said all along that higher wages for shit jobs is one of the reasons for an increase in what they call core inflation.

Does this support that?

"inflation-adjusted pay in the leisure and hospitality industry was 4.91% higher than in February 2020, just before the pandemic hit."

https://www.thebalance.com/some-low-wage-workers-are-staying-ahead-of-inflation-5270199
4.9% over 2 years isn't that egregious of wage inflation, particularly in an industry that went decades without meaningful wage increases for entry level.

By way of contrast, I'm easily up 5-10% since then, as is 90% percent of professionals who moved jobs since then. C-suite salaries are probably up 30%.
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ThePAMan

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Re: WTF is wrong with Joe Biden today?
« Reply #541 on: May 09, 2022, 10:31:24 AM »
https://www.marketplace.org/2022/05/04/is-a-wage-price-spiral-driving-inflation/

One way, obviously, to drive down wages, at least on lower skilled jobs, is to increase immigration. The same people here who complain about not enough staff at their local McDonald's or the local Reno casino buffet also complain about not enough being done at the border. Quite the Catch-22 for some.
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ILLove1997

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Re: WTF is wrong with Joe Biden today?
« Reply #542 on: May 09, 2022, 12:36:39 PM »
Quote from: ThePAMan on May 09, 2022, 10:31:24 AM
https://www.marketplace.org/2022/05/04/is-a-wage-price-spiral-driving-inflation/

One way, obviously, to drive down wages, at least on lower skilled jobs, is to increase immigration. The same people here who complain about not enough staff at their local McDonald's or the local Reno casino buffet also complain about not enough being done at the border. Quite the Catch-22 for some.

do people in this country want lower wages?

Who other than large corporations would want that?
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ThePAMan

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Re: WTF is wrong with Joe Biden today?
« Reply #543 on: May 09, 2022, 02:30:06 PM »
Quote from: ILLove1997 on May 09, 2022, 12:36:39 PM
do people in this country want lower wages?

Who other than large corporations would want that?

Are you arguing that inflation is being caused by wage increases?

Small corporations probably do.
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ThePAMan

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Re: WTF is wrong with Joe Biden today?
« Reply #544 on: May 09, 2022, 03:57:02 PM »
And still waiting for what anyone is supposed to do about the supply chain issues in order to tame inflation.
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illiniray

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Re: WTF is wrong with Joe Biden today?
« Reply #545 on: May 09, 2022, 03:57:24 PM »
Quote from: ILLove1997 on May 09, 2022, 12:36:39 PM
do people in this country want lower wages?

Who other than large corporations would want that?

people who want a lower labor cost reflected reflected in prices. Service industries operate on a tight margin and reducing labor costs is one major way they  increase profits. 

I am not saying higher wages in service industries is a bad thing. But they are going to  either cut hours or raise prices.

Core inflation is 5% and a big  boost in service sector wages might be part of that. The CPI is 8 1/2%. So it appears a good part of it is still due to supply issues.
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murphstahoe

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Re: WTF is wrong with Joe Biden today?
« Reply #546 on: May 09, 2022, 07:12:01 PM »
Quote from: illinicalvin on May 09, 2022, 09:57:28 AM
I had Biden higher precisely because he would be a boring institutionalist and defer to staff, which we desperately needed in 2020. I'm still ticked he named Harris as the VP, though, because that's just Gore/Hilary 3.0 waiting to happen.

Bernie gave Hillary a good run for her money despite the establishment very much
1) Not wanting Bernie
2) Wanting Hillary

Kamala won't have #2 and I predict there will be more palatable options than Sanders (I like Sanders, the establishment does not)
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murphstahoe

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Re: WTF is wrong with Joe Biden today?
« Reply #547 on: May 09, 2022, 07:13:07 PM »
Quote from: ILLove1997 on May 09, 2022, 12:36:39 PM
do people in this country want lower wages?

Who other than large corporations would want that?
Customers
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illiniray

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Re: WTF is wrong with Joe Biden today?
« Reply #548 on: May 09, 2022, 07:29:55 PM »
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Somewhere in Mn

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Re: WTF is wrong with Joe Biden today?
« Reply #549 on: May 09, 2022, 07:32:14 PM »
Everybody is a customer.
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ThePAMan

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Re: WTF is wrong with Joe Biden today?
« Reply #550 on: May 10, 2022, 02:02:18 PM »
QAnon97, what's the deal? I thought the talk was the dollar had lost it luster, and the Chinese Commies and Soviets were ditching it. Yet, the dollar is apparently doing very well (too well?) despite the stock sell off. Thoughts?

I guess Murph can chime in as well since he always taunts you on financial issues.
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murphstahoe

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Re: WTF is wrong with Joe Biden today?
« Reply #551 on: May 10, 2022, 04:20:01 PM »
Quote from: ThePAMan on May 10, 2022, 02:02:18 PM
QAnon97, what's the deal? I thought the talk was the dollar had lost it luster, and the Chinese Commies and Soviets were ditching it. Yet, the dollar is apparently doing very well (too well?) despite the stock sell off. Thoughts?

I guess Murph can chime in as well since he always taunts you on financial issues.
He went all in on Netflix at 600
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ILLove1997

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Re: WTF is wrong with Joe Biden today?
« Reply #552 on: May 11, 2022, 12:35:51 AM »
Quote from: murphstahoe on May 10, 2022, 04:20:01 PM
He went all in on Netflix at 600

Ew gross
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Somewhere in Mn

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Re: WTF is wrong with Joe Biden today?
« Reply #553 on: May 11, 2022, 07:32:25 AM »
That $33 billion got bumped up to $40 billion in no time.
No peace talks. Just war talk from day one after inviting a "minor incursion."

"We assess President Putin is preparing for a prolonged conflict in Ukraine during which he still intends to achieve goals beyond the Donbas," Haines told lawmakers on the Senate Armed Services Committee during an annual hearing on worldwide threats. She noted that entrenched military engagement means there's no "viable negotiating path forward" for Ukraine and Russia in the immediate term. 
https://www.cbsnews.com/news/russia-ukraine-conflict-putin-prolonged/#app

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ThePAMan

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Re: WTF is wrong with Joe Biden today?
« Reply #554 on: May 11, 2022, 09:32:38 AM »
Quote from: Mn on May 11, 2022, 07:32:25 AM
That $33 billion got bumped up to $40 billion in no time.
No peace talks. Just war talk from day one after inviting a "minor incursion."

"We assess President Putin is preparing for a prolonged conflict in Ukraine during which he still intends to achieve goals beyond the Donbas," Haines told lawmakers on the Senate Armed Services Committee during an annual hearing on worldwide threats. She noted that entrenched military engagement means there's no "viable negotiating path forward" for Ukraine and Russia in the immediate term. 
https://www.cbsnews.com/news/russia-ukraine-conflict-putin-prolonged/#app

Takes 2 to tango. But that they are not even offering Putin an off ramp makes me wonder if they think/believe that he has no intention of trying to end this short of whatever his new goals are.
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