Wall Street and the GOP are furious about any suggestion of raising the minimum wage. Heck, they are dead set against raising any working stiff’s wages! Our government is still pretending we have no inflation and this is convenient since the decline in wealth is in housing value owned by the middle class, ergo, no ‘inflation’. Of course prices of food in stores and energy goes up and up and up at a mad rate. Not that anyone at the top seems to care all that much.
Poor Mitt! He struggles to pretend to be a progressive when it comes to the working stiffs of America. He knows that waving the ‘Gays want to fuck you!’ red flag isn’t going to work. So he has to talk about money with them and this riles up his true base: Wall Street rich people. So, the mouthpiece of the dirtiest grubbiest graspers, the Wall Street Journal, goes ape: Review & Outlook: Mitt at a Minimum – WSJ.com
Serves us right. Yesterday we tried to defend, or at least explain, Mitt Romney’s remark that he didn’t worry about the poor because they had the government to help them.
Yes, they thought he was stupid to say that the government would help poor people! They wanted him to say, ‘NO ONE wants to help the poor.’ Even the faintest suggestion that the government ought to do anything infuriates the WSJ. On the other hand, there is the story of the craven female who won the lottery and then continued happily spending her food stamps.
Of course, the richest farmers in America, all Republicans all the way, happily collect government money they don’t need. All sorts of people in our government do this. Congress is filled with multimillionaires and they all collect the best health insurance benefits in America while the GOP members vote down even the most niggardly benefits for the vast bulk of the working class.
In 2007 the Pelosi Congress passed a minimum-wage increase in three stages that coincided with the recession. The jobless rate for teenagers has since exploded to 23.1% from under 15%, and for minorities to 15.8% from close to 9%. For black teenagers, the jobless rate is still an incredible 39.6%.
But even the Pelosi Democrats didn’t index the minimum wage automatically for inflation. That would only increase the incentive not to hire those in society who have the hardest time finding work.
A higher minimum wage always polls well, though it is rarely a major issue for voters. It’s worrying that Mr. Romney, who has based his candidacy on his ability to create jobs, would endorse a policy that would make it more expensive to hire people.
Statistics can be abused until the cows come home and the ravens peck out eyeballs. This loss of jobs of the young labor class isn’t due to the minimum wage going up. It is due to the complete collapse in banking and financial systems brought on by Wall Street. Unemployment for EVERYONE shot upwards.
College educated youth couldn’t find jobs in their fields so they flooded into the lower wage jobs that usually go to the less-educated. The solution to all financial and economic problems as far as the WSJ is concerned is to drop wages. Over and over and over again. They love cheap labor. They can’t figure out the end result which is a collapse of the entire system since no one would be able to buy mass production but then, it would cease and only hand-made luxury goods would be lovingly made and this suits the WSJ just fine.
Attacked by his Wall Street buddies who want to starve the poor and make the US working class into serfs, Romney Waffles On Minimum Wage
First Romney responded by saying that he had vetoed a proposed boost to the minimum wage while governor of Massachusetts. Explaining his comments about pegging the minimum wage to inflation, Romney said, “The level of inflation is something you should look at, and you should identify what’s the right way to keep America competitive.”
“So that would tell you that right now there’s probably not a need to raise the minimum wage,” he added.
HAHAHA. To hell with rising food prices! Let them eat Hostess Cup Cakes! While the bankers get ZIRP loans from the central bank, the workers get massive, pervasive and continuous inflation.
And then there is this news story: One Out Of Every Ten Wall Street Employees Is A Psychopath, Say Researchers. This is incorrect. It has to be more like 90%, not 10%. They just don’t care. They have one number: 1. That is, me, myself and I. Egotistical in the extreme, they are enraged when the masses get uppity. How dare they upturn the apple cart?
Inflation doesn’t bother Wall Street for a simple reason: they get the ZIRP loans! They get an ‘up’ market where their investments get more valuable even as the value of houses of the middle class continues to fall. They get to speculate in food and fuel markets and make a killing while this forces prices up and up and up. They LOVE inflation harnessed to zero interest loans!
Then there are the many wars against Muslims. This fuels government spending in private corporations owned by Wall Street and our many Congress critters. We spent over a trillion dollars installing corrupt regimes: Corruption Remains Intractable in Afghanistan Under Karzai Government – NYTimes.com
As Americans pull back from Afghanistan, Mr. Farnood’s case exemplifies how the United States is leaving behind a problem it underwrote over the past decade with tens of billions of dollars of aid and logistical support: a narrow business and political elite defined by its corruption, and despised by most Afghans for it.
The Americans and Afghans blame each other for the problem’s seeming intractability, contributing to the deterioration in relations that now threatens to scuttle talks on the shape of ties between the countries after the NATO combat mission ends in 2014. What is clear is that the pervasive graft has badly undercut the American war strategy, which hinged on building the Karzai administration into a credible alternative to the Taliban.
Every regime put into power by the US in the past has been corrupt. We hand our wars to Wall Street and this is their specialty. The US has sponsored many a coup in Central and South America and all of these were in support of vicious elites out to loot the countries they controlled thanks to CIA collusion.
The people of Afghanistan hate their puppet government. Naturally. Children starve there while the elites feast. How unusual. Of course, the NYT and WSJ are puzzled about how to stop this but neither rag will suggest we force our government to stop the coups and invasions. This is ‘Duh’ time.
The US media howls about Syria but look at Saudi Arabia’s near border: Yemen Al Qaeda Attack Death Toll Rises To 185. Bin Laden wanted the US attacked only so we would withdraw our support of the dictator families running the Gulf states. Their main target was and remains the Saudi royals. They consider the royals to be corrupt and evil. They charge them with collusion with Israel and this is now out in the open, forced into the open by the Saudis fear of the Arab Spring movement.
This movement is pro-Muslim nationalism. It has been heavily misunderstood by Americans because our Zionist media wanted it to be all about hating Muslim leaders, not longing for a stronger Muslim nationality. The leaders in Egypt are unpopular due to being owned by the US via bribes, for example. The Muslim Brotherhood/birth of al Qaeda is very close. Atta’s father is a big MB member, for example.
Here is news Americans should appreciate: Iceland’s ex-PM on trial over banks crisis. Good for them! I hope they convict.
The floating fiat currency wars burn hotter and hotter as the US floods the world with cheap loans joined by Japan and the entire EU as well as, this year, Britain. So, Brazil declares new ‘currency war’ – CNN.com
(Financial Times) — Brazil has declared a fresh “currency war” on the US and Europe, extending a tax on foreign borrowings and threatening further capital controls in an effort to protect the country’s struggling manufacturers. “When the real appreciates, it reduces our competitiveness. Exports are more expensive, imports are cheaper and it creates unfair competition for businesses in Brazil,” he said on Thursday after announcing changes to the so-called IOF tax.
In a presidential decree, the government extended the existing 6 per cent financial transactions tax on overseas loans maturing in up to three years. Previously, the levy was applied only to loans with maturities of under two years.
Everyone is in a race to make their currencies cheaper vis a vis the US dollar and the euro. Every tool will be used to do this. The trade wars are heating up, not going away. Meanwhile, the EU is quite crippled as many of its member states goes bankrupt: Greece Pushes Bondholders Into Record Swap to Forgive $132 Billion of Debt
This will lead to more ZIRP loans and money printing by key central banks. Of course, real inflation is raging thanks to these exact same idiots imposing a totally unnecessary oil embargo on Iran so they have to make excuses about this which is why I found this insipid headline: Oil Price Distant From 1980s Agony When U.S. Income Adjusted – Bloomberg
The cost of a barrel of crude in the U.S., adjusted for total disposable income, was $107.92 in January of this year, compared with a peak of $213.44 in the same month in 1981, according to data compiled by Bloomberg (.OILINCM) and the Energy and Commerce Departments. Oil consumption was 4.8 percent of income in 2010, compared with 9.7 percent in 1981, the data showed.
Yes, we use less fuel. Or rather, many of us in the cold Northeast burn wood now. Back in 1980, most people burned oil. No more. Cars were gas guzzlers, too. Since then, most of us drive less noxious vehicles. But the oil/food inflation is hammering us and eats a lot of income if one has a fixed income and I have a fixed income! IT HURTS. BIG TIME.
Watching the psychopaths of Wall Street lying about this pain is no surprise: they really don’t care to go look and see what they have done to us. The Iran oil boycott hasn’t fully happened yet. It will hit in high summer and will cause a LOT of pain. With no hope of any of us getting inflation protection. We will have fixed incomes while Wall Street’s income shoots upwards even more.
“Higher gas prices are like a tax straight out of your paycheck,” President Barack Obama told an audience at a Daimler Trucks North America plant in Mount Holly, North Carolina March 7. “You and I both know there are no quick fixes to this.”
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