Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about the recent “disaster” in Seattle as the minimum wage is hiked to $13/hr following its recent hike to $11/hr.
As Josh had predicted in 2014, the minimum wage hike would lead to vast unemployment, poverty and cause businesses to look elsewhere to set up shop.
Well, the truth always prevails eventually!
According to the study,
“The numbers of hours worked by low-wage workers fell by *3.5 million hours per quarter*. This was reflected both in thousands of job losses and reductions in hours worked by those who retained their jobs.”
“The losses were so dramatic that this increase “reduced income paid to low-wage employees of single-location Seattle businesses by roughly $120 million on an annual basis.” On average, low-wage workers *lost* $125 per month.”
It’s basic economics and market principles to understand the inflation of the price of living as the wage is raised, all while employment crashes in an attempt to save the markets from total destruction. Everything the government does, the free market does better!
People have to understand the difference between the amount of money they get and actual value as value goes down as the wage is forced up.
Who benefits? McDonalds, Burger King, Walmart, the companies these “Fight for 15” activists say can afford to pay them more. Of course they can afford to pay them more, but that’s not the point. The small businesses can’t. That’s why Walmart and McDonalds support the wage hike. It leads to further monopolization and less competition in the market.
This also leads to massive job automation and will lead to vast long-term poverty rates.
Time to grasp reality folks! Just because something “sounds” good doesn’t mean it is.
The minimum wage hike begets poverty and inflation. This isn’t rocket science.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Date: 9 June 2017
Author: Mike Adams (The Health Ranger)
(Natural News) As there are so many noobs buying into the “Bitcoin casino” right now, especially in Asia, the crypto-currency is now attracting a lot of people who think it’s just like a corporate stock. In other words, they assume it’s regulated by somebody, that its promoters are subject to laws of some kind, and that the “Bitcoin company” must have all kinds of assets, earnings and profits. Otherwise, why would its value keep rising, right? Continue reading Ten things you don’t know about the “Bitcoin casino” that could cause you to lose everything
Many Americans don’t think there anything wrong with socialism which that is a dangerous mindset to have because All what Socialism or Communism ever brought is hell because all mean production is controlled by the State.
In this video from Prager University show you why people in Venezuela believe that socialism had brought hell in Venezuela and why it’s a warning to USA and other countries why they should reject both socialism and communism.
Let not head down the socialist road because and hell awaits there. But let promote Capitalism where people have chance to success and survive. So let not ignore the warning from the Venezuelans because they’re learning the hard lessons after accepting socialism.
At the start of 2014, Venezuela’s GDP stood at $371.34 billion, with nearly half of that coming from oil (it accounts for almost 100% of exports). But after a year-high of $105.54 in June, crude plummeted by more than 50% to $48.51 by the end of the year. Oil has held steady in the $50-a-barrel range since, allowing the country’s socialist policies to materialize without the guise of high crude–and economic disaster has ensued.
Just this year, Venezuela has faced shortages in toilet paper, diapers and milk (and more) forcing more than 6,000 people to cross the border in Colombia to purchase necessities. The country had to ration its electricity use because of severe power shortages. It also could no longer afford to print its own money. Come 2016, the IMF forecasts Venezuela’s inflation rate to exceed 1,600%.
A Bolivarian Republic, Venezuela turned to socialism in 1998 when Hugo Chavez was elected president after two unsuccessful coup attempts to oust his predecessor. The new regime brought not only a new constitution, but higher oil prices as well. The following year Chavez passed laws redistributing land and wealth, which he followed in 2005 with a land reform decree that would eliminate larger estates to the benefit of the poor in rural areas.
In 2007 the government took control of important oil projects in the Orinoco Delta and later expropriated two U.S. oil companies, furthering Chavez’s nationalization plans.
Nationalization continued with the Bank of Venezuela and household fuels distributors and petrol stations. In 2011, with a 27% annual inflation rate, the Venezuelan government introduced price controls of some basic goods (they would extend to other products in the following years).
By the time of Chavez’s death in 2013, inflation had grown to 50% and rose to 63.4% in the following year. Towards the end of 2014, the country entered into a recession.
Present-day Venezuela is facing a humanitarian crisis and Nicolas Maduro, Chavez’s hand-picked successor, and his socialist regime is rightly shouldering the blame. The country’s emphasis on oil exports, price controls and a heavily-controlled economy are all features found in other current and former socialist countries–features that have contributed to the demise of whole economies, or brought them close to it.
Perhaps the most obvious example of economic failure is the Soviet Union (or USSR), With its highly centralized government and economy, the USSR survived for 69 years until its collapse in 1991, representing the longest time a state has been led by a Communist Party (China comes in second at 67 years).
While oil prices were high, the Soviet Union appeared to have a strong economy and could maintain its focus on increasing its military power. But when oil prices fell towards the end of the 1980s, the USSR found itself forced to borrow from Western banks. Its sluggish economic system and dependency on the West also weakened the control that it had over countries under the USSR’s control and eventually led to its demise. Venezuela now finds itself in the same difficult position.
Venezuelan officials like to blame the crisis on the United States and right wing business owners aiming to sabotage the system, it seems obvious that the heavily centralized state-run system inherited from Chavez is what is driving Maduro’s country to ruin. With a GDP percent change of -8% from 2015 to 2016 and an unemployment rate of over 17%, the only thing that can save Venezuela is ditching socialism.
The opposition has called for a referendum to oust Maduro this year, but the process is still in limbo–meaning relief for the Venezuelan people might not come until 2018, the next scheduled presidential election.
Even then, change can never be promised in the world’s 9th most corrupt country.
Source: Natural News
Date: 14 December 2016
Author: JD Heyes
(NaturalNews) For decades factories in the most advanced industrialized nations have been replacing human labor at a steady pace with robots. But today an explosion in robotics technology is leading to rapid advances in capability that will affect nearly all employment sectors—if not every single one. Continue reading Robots could take over 3.4 million human jobs thanks to Amazon Go’s new grocery stores
In this episode of the Keiser Report Max and Stacy address the policy vacuum of the President-elect by guessing what his policy toward fracking might be. If he wants to ‘save coal’, as he claims, it is fracking (a policy pushed by Hillary Clinton) that hurt coal mining more than environmental regulations. They also look at the false promise of genetically modified crops. In the second half Max continues his interview with Dr. Michael Hudson about what went wrong for Hillary.
Date:9 July 2015
Author: Food and Grocery Council
Auckland University wants to tax bread, cereal, meat, eggs and milk
A call by Auckland University academics to tax New Zealand families’ staple foods such as bread, milk, eggs and meat is lunacy, says NZ Food and Grocery Council Chief Executive Katherine Rich. Continue reading War on food: NZ University wants to tax bread, cereal, meat, eggs and milk
There is no way Obama’s signature trade deal will pass now that Donald Trump has been elected and Republicans control both houses. He hasn’t even taken office yet, and is already making campaign promises come true.
Matthew Conclusion: Tran Pacific Partnership is dead; but is it? Or we’re just getting our hopes up