What this thread proves..
.
1) That inflation is multi-factor. It is complex with feedback loops and multiple outcomes- bad and good.

2) That almost all of these factors are politicized. It's very easy to blame the other side for the factors you recognize. And very easy to completely ignore the factors your side causes.


3) The largest factor. Is totally ignored by everyone.
Because everyone is to blame...

It's survival of the most glutinous...
It's "natural"

The ever increase over-consumpution of everything.

The AMERICAN DREAM:

More, more, more - big macs, EV monster trucks, freeways, air-conditioning, disposable Chinese garbage...
For everyone, ever second.....
Wrapped in a pro- America environmentally friendly pro-Trump plastic (created from the liver of Guatemalan children).

I don’t subscribe to WSJ. Do the bussers share in the tips? Regardless, it’s got nothing to do with whether the minimum wage is forcing businesses to shut.

It is fairly common in economics to present data on an inflation-adjusted basis. If someone says that a minimum wage hike drove a firm out of business, they ought to show there really was a hike. If it’s just kept pace with inflation, it’s not really a hike.

You are giving a chart that ends in 2022.... the inflation crisis was after that.

So what? For 2023, the lower line would remain flat at the $7.25 level, and the upper line would continue the slow steady decline we've seen since 2009, although the decline would accelerate.

The overall shape of the chart lines, and the general conclusions would not change one iota.

That is not my chart. The data I used were through Feb 24, which is the most recent in the Bureau of Labor Statistics inflation calculator.

But, regardless, having more inflation just makes the current minimum wage even lower, after adjusting for inflation. It cuts in the opposite direction of what you are arguing.

if anything I am arguing for instead of wage increase... price controls.

How does price control work, its a concept I have never been able to comprehend.

The best example I have of that, we have a private Electric companies in Michigan, the govt controls their price, they cant raise rates without govt, approval. We have some of the worst electrical service in the country and the most expensive. It seems price control is failing. we use to have a 3 county cable commision that controlled what cable companies could come in and the price, it ended over 10yrs ago, we still are suffering from that, as in my area you can get dsl or 1 cable provider, and its not a cheap price. In nearby areas there is at least 2 or 3 providers.

So my experience with price control is not very good, and I don't understand how it is suppose to work. Are their examples of price control working?

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Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.

Oh, my - that's a whole 'nother kettle of fish. But how would you set the price of a burger? (Since this thread is, loosely, about burgers.)

Water and electricity (currently in San Diego we are trying to get the govt to buy the private company since they are a monopoly and definitely price gouge)

Edit to add... After this price increase my Panera sandwich up 50 cents. I'm reducing my purchases at these places (it was $2 less last year and 25% smaller. up thanks to inflation) and now buying stuff at grocery store near by and eating at Panera

And so the domino effect continues... push for $25 minimum wage (fyi, medical worker minimum wage is $25)

https://www.lajollalight.com/...ther-service-workers