2017

biochem wrote:

PeterZ wrote:Quite simple. The stagnation of median wages has left quite a few folks behind. The Obama/Bush economy relied on monetary policy to expand the stock market. They allowed an implicit backstop on large to-big-to-fail banks' losses. Open borders and globalization have allowed wages (labor costs) to stagnate, while the social safety net picks up the dislocated workers stemming from both.

That's a mess. Both Bushes, may their legacies be eternally tarnished, followed the Clinton/Uniparty-establishment into trading economic growth for security well after the Soviet Union collapsed. Reagan granted Amnesty, but never got any firm control over the border. Not sure he tried very hard. That counts against him.

So, yeah, thigs got very messy after Bill Clinton. I was glad he had a Republican House and Senate to mitigate potential problems. That split government dynamic seems to work upon a few occasions.

And this is why those left behind said a pox on both your houses and elected Trump.

PeterZ wrote:I gotta say, I agree with Peter Zeihan that Trump will be the most engaged President in foreign policy for the next few decades. As milennials hit their stride, America will get much more insular.

PeterZ wrote:Quite simple. The stagnation of median wages has left quite a few folks behind. The Obama/Bush economy relied on monetary policy to expand the stock market. They allowed an implicit backstop on large to-big-to-fail banks' losses. Open borders and globalization have allowed wages (labor costs) to stagnate, while the social safety net picks up the dislocated workers stemming from both.

That's a mess. Both Bushes, may their legacies be eternally tarnished, followed the Clinton/Uniparty-establishment into trading economic growth for security well after the Soviet Union collapsed. Reagan granted Amnesty, but never got any firm control over the border. Not sure he tried very hard. That counts against him.

So, yeah, thigs got very messy after Bill Clinton. I was glad he had a Republican House and Senate to mitigate potential problems. That split government dynamic seems to work upon a few occasions.

Daryl wrote:So the only policy he has managed to get actually through congress is the tax bill, which will benefit the top end of town, but those on median wages are celebrating? Delusional.
Here in Australia I showed some people a news article that incidentally mentioned how the US minimum wage is an annual $14,500. They didn't believe me and went to check. Not sure on ours but it's about $45 - $50k. Yet in proportion to population our economy is doing quite well, without your astronomical debt levels either. Don't forget that our "battlers" (like your deplorables) while living on that $45k also have free universal medical and a national welfare net (that gives them extra money per child).

PeterZ wrote:Quite simple. The stagnation of median wages has left quite a few folks behind. The Obama/Bush economy relied on monetary policy to expand the stock market. They allowed an implicit backstop on large to-big-to-fail banks' losses. Open borders and globalization have allowed wages (labor costs) to stagnate, while the social safety net picks up the dislocated workers stemming from both.

That's a mess. Both Bushes, may their legacies be eternally tarnished, followed the Clinton/Uniparty-establishment into trading economic growth for security well after the Soviet Union collapsed. Reagan granted Amnesty, but never got any firm control over the border. Not sure he tried very hard. That counts against him.

So, yeah, thigs got very messy after Bill Clinton. I was glad he had a Republican House and Senate to mitigate potential problems. That split government dynamic seems to work upon a few occasions.

PeterZ wrote:Minimum wage is an entry level job for people without experience. That's usually high school kids working at McDonald's. Even McDonald's pays their more experienced folks more. Still, that you guys have good border controls and a sane immigration policy that allows you to set much higher minimum wage without having illegals swarm your borders. A growing economy has been a much faster way to increase the median wage.

Annachie wrote:Should point out.

That when we talk minimum wage we're talking full time, 36 to 40 hours a week, work.

Casual rates, for those working less than that (don't ask specifics) is usually the hourly rate from above plus about 15%.
It's been a while since I worked a job like that though so my memory might be off. But I think that's what some of my kids get.
That doesn't include apprentice wages for example, who get about half that in their first year.

PeterZ wrote:Sorry, Daryl. I may trust your pols to do socialized health better than ours. That doesn't mean socialized healthcare will ever be better at using national resources than private insurance or private healthcare providers. It only means American pols truly suck at delivering government services. So, I'm glad we are moving away from socialized healthcare.

Same with setting a minimum wage. It's nuts to raise mandatory wages, but leaving immigration unchecked. The higher the manditory wage, the more attractive it is for folks to enter illegally. Arguing for open borders and legal employment for foreign undocumented workers and also much higher manditory wages is insane.