Category Archives: Economics
Buzzfeed continues to espouse the bogus “gender wage gap” campaign even in 2015, despite the fact that raw data and factual evidence has disproved it.
Long-term unemployment or permanent unemployment is a major issue for those who are stuck in the American vortex, with seemingly no options to escape.
Aren’t you sick of the gender pay gap lie? The 23-cent figure is simply the difference between average earnings of all men and women working full-time.
The cost of raising children in these modern times can equate to financial suicide unless you are independently wealthy.
Unless you are independently wealthy, the cost of raising children in this day and age can equate to financial suicide. Numerous online reports, and even commentators such as Tom Leykis, have mentioned that the cost of raising one child has now exceeded $300,000. Just what kind of average Joe has that amount of capital, or can accumulate that kind of wealth to raise a child? Especially in this ‘New America’, where earning a humble $30,000 a year suddenly has the veneer of being a “good job” in the midst of so much unemployment and underemployment?
People inflation and technological upheaval are some of the primary culprits behind widespread unemployment. It’s time to become generalists again.
One thing all economists seem to overlook is the supply and demand of human beings. This can otherwise be described as ‘people inflation’. When the supply of people is too large, food and other valuables we take for granted become more scarce. Wages also tend to go down as a result. The reason why there are now so many low-paying jobs in the United States, is because there are so many extra people for the labor that is required. Someone will work for the low wages when those jobs become available.
The current generation of young adults, known as the ‘millennials’ or sometimes the ‘echo boomers’, is the most educated generation in the United States. A huge percentage of them are also broke by every economic measure. So why can’t they find job security and financial stability? AJ+ labs compares the current crop of young citizens with that of their parents: the Baby Boomers.
Despite making up a similar share of the U.S. population, at 24% and 25% apiece, the levels of asset ownership and debt between the two generations are truly startling. While the boomers still have over $18 billion dollars in debts to settle, their children’s generation has over $1 trillion dollars in outstanding debts, mostly from predatory student loans which are used to finance tertiary education. That is, a college degree which for many will offer no return on investment in an economy marked by globalization, outsourcing, and technological upheaval.
When General Motors was the nation’s largest employer in the 1950’s, they employed highly educated people such as engineers and scientists. Even their ‘grunt’ and semi-skilled workers were comparatively well compensated for their dedication and hard work. Now fast forward to the 2010’s and WalMart, now the nation’s largest employer, has no need of highly educated skills.
My point here is that, as a nation, we’ve gone from an innovative and producing nation to a country dotted with retail stores and tanning salons. The only jobs left which are realistically obtainable for the masses (that is not in the highly paid niche sectors of Silicon Valley, Wall Street, or the Bakken Oil Fields) are in the service sector.
In the past several years a number of alternative news outlets have pointed out that Australia has a vastly higher minimum wage compared to the United States. In Australia, the minimum wage is set at $16.87 per hour as of 2014. Were they trying to point out that Australians must be enjoying a vastly higher material standard of living when compared to their U.S. counterparts as a result of such generous wages? And that higher minimum wages don’t necessarily correlate to an increase in unemployment?
The latter might be true, but the former almost certainly is not. A higher Australian minimum wage always leads to higher prices for end consumers and overseas visitors. What inevitably follows is the “sticker shock” for people coming from abroad, who suddenly find their Australian holiday isn’t quite as affordable, or enjoyable, as it could have been somewhere else around the globe.
I am generally very appreciative of Thom Hartmann’s staunch anti-war stance and his overall rationality and intelligence, but this is a completely insane and baseless argument.
When has there been a Libertarian in power? Reaganomics and Libertarianism are not the same thing. How does a Conservative Keynesian like Reagan get compared to Liberal Austrian ideals? How do you blame the Libertarian party for policies enacted by Republicans and Democrats and two or three independents?
Last time I checked, it was Democrats and Republicans that deregulated our economy and allowed corporations to bring our country to what it is today. Where do Libertarian economics from their independent candidates come into play?
The small liberal arts college of Davidson in North Carolina claims that their commitment to affordability “has never been stronger”, and strives to meet 100 percent of their students calculated financial need entirely with grants and student employment. However, I sincerely doubt that student employment is going to help cover the $58,000+ in various fees over the academic year.
And what will the return-on-investment be for their liberal arts education in this decimated U.S. economy, complete with outsourcing, robotization, automation, drone technology, smartphone apps etc? Something is clearly not right in 2010’s higher education.