Oddly enough, China is not even close to being our biggest debtor. While it is true that a devalued currency would effectively put the screws to China who holds roughly 8% of our sovereign debt, it will REALLY hammer our biggest debt holder. Do you know who our biggest debt hold by far is? The United States government, holding a whopping 40% of our national debt. So that begs the question, "How do we get out of this one?".

I never think that the destroyers of our country are blinded ideologues. That is their cover. They always have a purpose, which I think is destruction. Devaluation of our dollar through massive inflation is destructive. It is already underway.

LA just announced $15/hr min. Yes, Obama and his group want the $ devalued as far as possible. Their desire is and always has been to weaken the US in all areas, as far as possible. They actually hate the US as we see it and only accept what the US would be as a socialist state.

If $15 Minimum Wage is such a great idea, why don't the people that agree with it just do it? Set the example. Why do they want to push their beliefs on everyone else? After all we've got to start somewhere. And if it works out the rest will follow.

And those that demonstrate against oil should be more than willing to give up some of products they use that are derived from oil. Perhaps they could give up their cars and some or all items made of plastic as a faithful gesture of their convictions. Again, after all we've got to start somewhere, so they should set the perfect example and the rest of us can follow when we're ready.

Same with PETA and those that don't want cattle to be slaughtered, why don't they just give up their leather shoes, belts, and other derived items from animals and set the example for the rest of us instead of demonstrating against us and actually themselves. If their disuse of these items works out to their benefit the rest of us will follow.

"My motto, "Practice what you preach or shut your mouth."

The best path to a $15 minimum wage is a healthy market that creates the demand for labor. Oklahoma City has an unemployment figure of 3.3%, and the minimum wage passed $10/hr months ago. Help wanted ads are everywhere, and many employers are already offering starting wages of $15/hr. None of this is by government edict.

One additional perspective to this Minimum Wage issue... It is my personal and immovable conviction that if the minimum wage was changed to $15 tomorrow. the employee would experience an immediate sense of improvement. Over the the next 180 days as companies increased prices to cover a potential 60% increase in labor, automate their minimum wage jobs (electric dishwashers don't call in sick, file WC claims, generate exorbitant payroll taxes, and can work over 8 hours without triggering OT), eliminate nice but not necessary positions, and adapt to their new reality... any benefits that the increase may have provided will be absorbed through increased market prices and lost jobs. This will negate the perceive benefit to the minimum wage employee. I suggest that this "raise" may in fact diminish the standard of living through higher expenses and less employment available to this segment.

BUT... There is a winner. Government at ALL levels will have a perpetual windfall. The employee actually retaining employment will pay higher SS taxes, income taxes, Unemployment taxes, and sales taxes. Additionally, for the working poor segment... they will not qualify for "benefits" previously available (another windfall to Gov't until adjustments are slowly made)

So there is a harebrained (politician) logic to to the minimum wage increase and it is a windfall of more tax revenue per employee, initially lower benefit payments to "previously" working poor, and much higher tax revenue from the business segment through payroll, income, and sales taxes. Additionally government can now base Unemployment, Disability, and a plethora of social benefits on a $31,000. annual "minimum wage" earning. They project they will control more capital and have much more revenue at their disposal. They will never consider the down side of permanent elimination of jobs, the elimination of the "training grounds" where we learned skills, discipline and values through minimum wage jobs. These jobs were not intended to support a family, be a career path to Vice President of Clean Dishes, but the did provide us a place for gaining important values for future endeavors and ambitions, This arbitrary "adjustment" will also continue our competitive decline domestically and internationally through inflated labor costs.

Sorry to sound so cynical, but in this case, I do think they have thought it through and it is a crumb to the unions (who get a huge bump in dues) but, more importantly, will result in the largest federal, state, and local tax increase in our history... and they don't even need to debate!

Kiddies, next bedtime story will be "The Influence of Increased Union Dues Receipts on Political Contributions and the Resulting Super Majorities"!

Who is John Galt?

1) Devaluing the dollar: they're doing that now without trying (aside from QE 1,2,3, 4 pending.)
2) you assume they're smart enough to think of that.

A minimum wage is pure socialism. That is their mantra. They have no idea about economics (or care). So I ask, if you set the minimum wage at $15./hr. what do those already earning that wage do. Either demand more money (because they have better skills which is why they got the $15) or go and take the jobs from the lesser skilled folks who demanded a wage above their skill level. And on it goes.

Those pushing for this are not that smart about economics. It may happen, but I can't attribute this to a plan, just zealotry.

Why not a $20 minimum? $30? $40? $50? etc. Oh hell, let's make it a nice even $100.

With the dollar being devalued, inflation skyrocketing, Jade Helm 15 cutting off any escape to the south (most of us are not tough enough for Canadian winter). We will be like fish in a barrel. Buy precious metals silver to trade, brass and lead to defend yourself the best you can. If you see something bad coming that is out of your control you can over analyze or prepare for what is coming. Everyone here seems to be in consensus about the future as the road we see laid out before us. Find your Gulch. Even if what we suspect don't materialize being in your own Gulch or one with many Gulchers that you and they can count on your life will be more rewarding (speaking from experience of my own Gulch). Be happy it's not the end it's the beginning.

All I can really tell you is what I will do if the minimum wage is $15/hr. Lets assume there is a year before it gets to that level. First thing I do is try to outsource more from China. Second thing is concentrate on product simplification to reduce the labor content. Third thing is to automate any tasks that I can. Fourth thing is to lay off about 1/3 of our people to keep total wages the same. To the extent all that doesnt allow me to make a profit at current prices, then I raise prices in dollar terms. What all that does to inflation, I really dont know, as its so intertwined and convoluted now with international business and all. If low training jobs pay $15, all other jobs must go up proportionally too, so I would look to take the same actions in the front office. Overall, I have got to think total employment would fall, and outsourcing would at least in the short term increase until the government forbids it. Then prices will really rise, and the economy will shrink. The government has some sort of ulterior motive for sure, but I really dont know what it is- at least right now

They don't just want to devalue the dollar, but to bring the whole system crashing down. Read Alinsky.

I'm just surprised that, before enacting it, they didn't make it as hard to fire an employee as it is in Europe -- so that employers can't get out of it except by going bust.

I think you may be right. Vast majority not smart enough, but gullible enough to be manipulated.

I don't think they care if the dollar is devalued because we will be paying china for decades to come probably just the interest and never the principal.
Also, they do not care one bit about those asking for the increase nor those who would be paying it if it were to happen.

As for being economic illiterates that is as true a statement as can be made about them, unless of course you give them money.

Our rulers "deafness, indiffence and insistence" can be explained by " ARROGANCE.
The arrogant assumption that I have a Phd in Economics, so I know all, and psychobabble my way to a conclusion that is false. The arrogance of "I am smart, you are dumb, do as I say (then cover it all up with so many stories and lies that the truth disappears). The arrogance of "I can borrow as much as I want, WE will never have to pay it back". And, lastly, the arrogance of "Your money is my money, so in the name of all that's holy social rightness, racial equality, LGBT celebration, diversity manipulation, and Democratic Freedom, GIVE IT TO ME.
Progressives are the most regressive element in our society. Take what you want, give nothing back, except to those who pander to you, or vice versa.

It is much more productive - and satisfying, to let the communist tendencies of our current crop of "leaders" play out in real life, agree with their premise that $15 SHOULD be the new minimum, but only if it`s application begins with American military - and congress. That should shut them up.

Default on the debt? Liberal thinking, who gets hurt? China? Who cares! Japan and Wall Street? Serves them right! They see no downside for their constituents. Only the 1% really get hurt. Food Stamps, Obama phones, Obamacare all unaffected. All good!

I think they just hate anyone who actually works for a living and wants to drive them from the "workplace."

the problem is that it pushes jobs overseas by
increasing the difference between u.s. and others'
labor costs. . devaluation, yes, but the horrible
effects on the people are so awful. . yes, of course,
people on top often care nothing for the rest. -- j
.

I do know it's been over a decade since the wage has been raised.Everything has went up but paychecks it was overdue 5 yrs ago.The rich have profited off workers now it's time for our Gains!😊🙌🇺🇸

Couldn't find an easier place to post this link from an old friend of mine...
Enjoy!

http://e3gazette.blogspot.com/2008/01/ma...

Cave fatuos!