RE:RE:inflation comingJCSunsfan wrote
nofluff wrote: 2 trillion u.s. stimulus package with minimum wage double. If true, u do not want 2 b sitting on cash.
nf
Doubling the minimum wage is a tax on the middle class for the benefit of the lowest rung of workers. It demotivates the drive for educational advancement since college grads and high school grads are going to be making the same salaries.
Inflation is almost unavoidable with all the stimulus talk--unless productivity and technological advancement negates it. Money is just paper now. It is artificially controlled by governments and economists. In times of difficulty, the most valuable things are those that everyone needs--food, shelter, clothing, essentials. In times of prosperity, sometimes things of pleasure become more valuable.
Cash is probably safe for the short-term while you figure out where to put it, but it will not be a good investment long-term. There is just too much of it out there. It seems that many Americans are getting their stimulus money and doubling down with it by dumping it into the market. We have a huge market bubble right now. Who knows how this is going to work out.
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Yes lets keep those minimum wage workers in poverty so jokers like you dont have to pay 5 cents more for a coffee.
If they do as you say and all the low wage workers go and get "Educated" and get better jobs who will do all the low wage jobs that people like you look down your nose at. I guess we should always have a large group of low wage people living in poverty just to subsidize people like you.
All people who are working should make enough to live. That way businesses can find reliable long term workers and the workers will spend the money they make and help the economy.
And if a big league investor such as yourself cant pay 5 cents more for a coffee to bad.