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A $33 Minimum Wage

John Rowland

Posted on July 14, 2019 23:08

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All the so-called progressive talk of a $15 "livable" minimum wage is for pikers and losers. Get real, get serious.

We hear it all the time. Liberals, progressives, and SJWs constantly whine for a $15 minimum wage -- a livable wage.

Great, but why only $15? Why so modest, so skimpy? Sounds like mostly politics; not much economics.

Commenting on a report from MarketWatch, economist Max Keiser and his co-anchor Stacy Herbert have discussed the relationship between capital and labor in their "Keiser Report: Our Risk, Their Reward (E1398)." Their conversation revolved around how one (capital) is privileged over the other (labor) by the central banks -- a 35-year advantage for the hyenas of high finance.

Their remarks reflect the central bank monopoly's belief: what is good for the worker is bad for Wall Street. More specifically, the suppression of "any hint of rising worker wages or dignity for workers." When the equity markets crash, the federal reserve system says "go away workers we're going to smash you; we're going to save Wall Street" along with the "squeez[ing of] workers completely out of the global economy so wages never go up in real terms."

The federal reserve system prints money for their friends but much of the newly-created money never enters the real economy: Wall Street over Main Street. This manipulated process by the monopoly central planners has yielded an explosion in debt, but no rise in real wages. Keiser asserts that if regular wages were properly adjusted to reflect the actual money printing since 1985, wages would be $45-$50 an hour right now.

Similarly, if the minimum wage had truly kept track with monetary inflation -- basically reflecting when the U.S. went off the gold standard in 1971 -- an honest adjustment for what the minimum wage should currently be is $33 an hour.

That's $33 an hour.

Since the Federal Reserve's massive money creation has induced huge multi-fold increases in financial assets (e.g. equity markets), why not also a multi-fold increase in the minimum wage?

So hear that Bernie? The talk of a $15 minimum wage would seem to be playing into the hands of the central bank monopoly--get real.

John Rowland

Posted on July 14, 2019 23:08

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