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
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: 9 November 2016
Author: Mike Adams, the Health Ranger
(NaturalNews) Listen and pay attention: As you all know by now, the entire media was WRONG and Natural News was RIGHT about this election. I have been publicly predicting a Trump victory for over a year, and I purchased the Trump.news domain name 16 months ago, along with WhiteHouse.news (both are now hosting active news content which will be rapidly expanded). Continue reading The Empire will strike: With an orchestrated, apocalyptic market crash to try to destroy Trump in 2017
Throughout history countries have been ravished by food shortages. In Venezuela, we are currently seeing the devastating affects of socialism and food emergencies. Don’t be fooled into thinking that cannot happen to you, not in America. You need to prepare yourself for the worst.
Matthew Concludes: When a nation is collapsing; there is two options leave the country or endure the extreme hardship and chaos. If you’re on a sinking ship would the smartest thing to do is to get off the sinking ship?
So do not be fool that it would not happen. It always pay to be ready for the worse and hope for the best. I don’t always have all the answers and you have answers and solutions how to survive the hard times in the oncoming economic collapse; let me know in the comments below.
Main Source:The Economic Collapse
Date: 22 August 2016
Author: Michael Snyder
In 1960, the city of Detroit was the greatest manufacturing city that the world had ever seen. Nearly two million people lived there, and it had the highest per capita income in the United States. That may be hard to believe, because today it actually has one of the lowest per capita incomes of all of our major cities. Over the decades more than a million people have left the city, and thousands of abandoned homes have been torn down. But there are still tens of thousands of abandoned dwellings that remain standing, and some have sold for as little as one dollar in recent years. Once Detroit was the envy of the entire planet, but now it has become a global joke and in other countries they love to do news stories about “the ruins of Detroit” to show how rapidly America is rotting and decaying. Sadly, Detroit is far from alone, because there are other formerly great manufacturing cities that have declined just as fast as Detroit has. Continue reading Detroit Has Gone From Being The Greatest Manufacturing City In The World To A Global Joke
Control the food and you control the people …
Dr. Mark Weisbrot, Center for Economic and Policy Research (C.E.P.R.)/Just Foreign Policy/FAILED: What the “Experts” Got Wrong about the Global Economy joins Thom. Venezuela is in the midst of one of the worst economic crises in that nation’s history. Who’s to blame – the country’s socialist president – Nicolas Maduro – or the elites who want him overthrown?
Social unrest will occur when food shortages begin, providing excuse for martial law
Alex Jones shows how the globalists have steered societies and managed resources, not for prosperity, but to control populations and destroy the middle class.
That why we should be prepared for whatever coming. As the oncoming global economic collapse which may occur maybe this year or within 4 to 5 years. I know that Venezuela economic collapse is a just warning sign what can happen in any nation. Venezuelan farmer have to hand over any where 30 to 100 percent to their government. Also preparedness and hoarding is illegal in Venezuela so if people try to prepare and hoard, the government will just take it all. When you watch video on you tube about Venezuela food shortages the Supermarket shelves are empty. Once the government take control of the distribution of food and farms the food shortage will only get worse and been proven is history time again. And here a quote
” Control the oil and you control nations; control food and you control people.” Henry Kissinger
This is true because we all need food to survive; not junkfood we buy in the supermarket but good wholesome food what nature has given us. Because if our government control the food and farms they can control us. That why I don’t trust in my our government. You got to have commonsense and use it. And ask yourself that question; If you know that there was going to be a economic collapse occur in your countries would you prepared for it? And commonsense thing to do is to prepare for was ever coming even if it didn’t happen; because it would be foolish not to prepared for worse to come. Many people in first world nation just pretend it’s not going to happen which that the worse and most unforgiving mistake to make.
And I hope you make the best choice to prepare yourself and have family and friend you can rely on.