Showing posts with label Elizabeth Warren. Show all posts
Showing posts with label Elizabeth Warren. Show all posts

Saturday, April 12, 2014

Friday, October 04, 2013

Saturday, April 06, 2013

To Hike or Not To Hike

There have been lot of rumblings of late regarding the minimum wage. The president has suggested that it be raised to $9 per hour. Elizabeth Warren has been a staunch champion lately on this issue has been summarily raked over the coals by the usual collection of mouth foamers with the same bullshit argument that claims they know something about economics and that liberals know nothing. Well, here are the facts, based on the simple economics they claim to grasp so easily.

If the minimum wage is set below the market equilibrium, it will have no effect on the efficiency of the market. Even though the government has set a price floor, the market is bearing a higher price so it doesn't matter. Yet, if the price floor is set above the market equilibrium, unemployment will occur because employers would be induced to higher fewer workers, given the higher cost they must now pay their employees. More people would enter the labor market and jobs would be scarcer.

So, the question becomes...where is the market equilibrium? Well, with so many different markets out there in this country, it would depend on which market you are talking about and that's why the mouth foamers can get away with painting with such a broad and dishonest brush. If there is to be a minimum wage increase, then there should be a series of studies that examine the market equilibrium for those markets most affected my the hike. I would think the service industry and the retail industry would be good places to start.

Friday, August 10, 2012


Thursday, November 24, 2011

Today, I Am Thankful For...

...the rest of America starting to wake up...

...the support that the Occupy movement is giving to local businesses...

...Elizabeth Warren, current running for Senate against Scott Brown in Massachusetts.

....and our nation's 26th president for stating something so eloquently that is sadly still true today.

Mr. President, you and I are on the exact same page, sir!

Wednesday, May 25, 2011

Picking On Liz

I suppose it was inevitable that Elizabeth Warren, the defacto head of the new consumer protection agency in the government, would get attacked by Republicans. What I'm trying to figure out is why. Since I know many of you hate her immediately and the very idea of the CPFB, I am curious as to what I know will be your firm and unyielding convictions.

Now, I am already aware that some of you feel that she is going to come to your homes, take away your guns, and forcibly take the fruits of your labors to fund brown shirt factories and reeducation camps. No need to go over that point. What is perplexing me is this: after all that has come out about the massive amount of fraud that led directly to the 2008 financial crisis, why would you not want the government to regulate these guys? More importantly, why on earth would you vote for a republican (nose holding or not) like Patrick McHenry who seeks to continue this fraud? It makes no sense to me whatsoever.

The whole point of the CPFB is to streamline the regulatory process. It's the first step in undoing the Wall Street government that we currently have. It has to happen because we can't keep going through this cycle every few years. This is the global economy we are talking about not a fucking casino.