The reality is ,, minimum wage hikes ONLY serve kids, living at home for free, with a few extra bucks ,,, that's because they have no living expenses
The fact is, employers work out their price points, and fix their margins after calculating their expenses ,, so, the more it costs to do business the more they hike the product price. It's called inflation
The result is when an employee gets a raise ,, it is paid back to inflation
And so ,, we are right back where we started
The solution,,, give the working kid a home utility bill ,, now your getting somewhere
if you are saying that currency itself is responsible for inflation then you are deluding yourself
the same pressures exist in the barter system
currency was developed because it's more convenient
either way the value of most products is determined by basic economics and in some cases, like auggie pointed out, by greed
Last edited by really_troubled; 02-02-2023 at 01:48 PM.
Its pretty clear some of you don't understand inflation. It's not from greed it's from printing money. Let me see if I can help.
If you have 2 million dollars in circulation with 300 million people, your dollar is worth a lot.
If you have 50 trillion in circulation your dollar isn't worth *****
Why don't they just print money and pay off all the debt then lol
the US keeps printing away with new "bills" from congress. Please tell me you understand the correlation.
"The creature from Jekyl Island" is a very good read and explains it. check it out sometime
yes, it's pretty clear that some don't know what inflation is
if you were the least bit observant you would have seen that my previous post started with the word "if"
so it was conditional
after reading your last post it's clear that you aren't against "printing money"
your are alright with the printing of some money, why don't you enlighten us where the line should be drawn ...
either way your assertion that inflation is only caused by "printing money" is nonsense
don't hold your breath waiting for me to read another conspiracy theory ... lol
Money has to be backed by something of intrinsic value. It use to be gold. Now it's nothing, it's just a piece of paper that the government says is legal tender while the Fed prints away creating inflation.
I've explained to you what causes, now I'd like you to explain to me what causes it.
Last edited by pennywise; 02-05-2023 at 03:58 PM.
take a quick look at the CPI (Consumer Price Index)
it covers all kinds of things that are monitored in an attempt to come up with a real time inflation rate
I don't disagree that "printing money" is a substantial cause of inflation, but it sure as hell isn't the only thing that causes it
Pennywise ,, thank you for your Greenbanks moment ,, 1st you high jacked the thread and 2nd you complicated it
For the purpose of this thread heading and the post that followed ,,, here is the definition of "inflation" as intended
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy.[3][4][5][6] When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.[
HTML Code:https://en.m.wikipedia.org/wiki/Inflation
Thanks for the definition, I don't know how to look things up. The definition tells you what it is, not what causes it, maybe you didn't notice? Someone else started talking about inflation, so did I highjack it? Or did I respond to the highjack? Either way, I'm good. Close it up.
You were given a couple of examples of things that contribute to inflation.
If you looked at the CPI, more specifically the methodology, you would see that they monitor more than 80,000 goods and services and that's only one of the indexes used.
If the only thing that caused inflation was the "printing of money", then all they would need to monitor is the money supply
no need to pay attention to other economic factors
Nowhere did anyone give me an example of what causes inflation and HOW it causes inflation. Give the thread a read and then tell me what causes inflation and how. I've been told what I said was "nonsense" then told to look at the CPI. Neither of those things are examples of inflation. Can you answer what I'm asking? When you artificially increase the money supply or print money, the end result is goods cost more and wages go up. It's that simple. There's nothing else to it.
Last edited by pennywise; 02-10-2023 at 02:59 PM.
if something causes an increase in the inflation rate, you can bet your ass it is a cause of inflation ...
the fact that you can't see that doesn't really make much difference
if the only thing that caused inflation was the money supply, then inflation would be a flat rate on all goods and services