26 thoughts on “The 40 hour work week, brought to you by labor unions”
Any entrepreneur or small businessman knows he cannot make a living working 40 hours a week–A big reason people go to work for the man with a union. And he/she holds disdain for those who do. What have you done for us lately? How have you helped labor go into the 21st century? Come on! New ideas! new methods!
One thing organized religion must do for its believers is to recognize and condemn as an intrinsic evil is the denial of a “living wage” by greedy owners of business; also known as the 1%, the modern day robber barons, or those who exploit or deny the worker a just wage or benefits or work conditions or representation.
I must admit there are businesses whose owner are morally responsible in paying a living wage. I worked for one and was able to retire at 62.
Before you jump to any conclusions, profit by itself is not evil. It can be used to mankind’s benefit. It is the unjust means, greedy intention, or bad circumstances which corrupts the end result, profit, making it intrinsically evil. There is nothing wrong with profit in which all parties are paid in proportion to their effort and contribution to the end product and the consumer receives value for his purchase.
In my opinion, and judging from many sermons I have heard, many of the current religions including mine are only or overly concerned with the abortion of the “unborn.” They fail to see that denial of a living wage for the born results in an economic death known as poverty which has a FAR GREATER IMPACT on society than abortion. The solution to end poverty is not food pantries; it is a living wage as negotiated by a union.
And a living wage could also have a favorable impact in the reduction of abortions.
As a Catholic, I was taught a worker’s union was a step up in combating or replacing serfdom, slavery, indentureship, and other inhumane forms of employment. With the power “purchased” from our elected representatives by the business colossus of today, organized religion must meet its moral obligation to advocate for the worker and decry the greed and inhumanity of some or many of the 1%.
Amen, brothers and sisters!
Duane, I am a small business owner. While you don’t define what you mean by a “living wage” in dollar terms, I suspect that it means I would have to pay considerably more for labor than I do presently. I believe it is a fantasy held by many progressives that business owners are sitting on piles of cash, greedily withholding it from deserving employees. Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees. It must feel very good to lecture others about morality regarding wages, but for many businesses large and small, the money needed to be moral in your eyes simply isn’t there. These businesses would simply shut down and people making less than a “living wage” would then earn nothing and be denied the skill development that jobs offer besides cash compensation. Would shutting down my business, denying employees compensation and experience, depriving customers of our goods and services, and ending my contribution to the tax base… be a positive development in your view?
I agree.
Of course, small businesses were not included or considered in my analysis.
As a CFO for a small manufacturing plant for 10 years, I know of and appreciate the unique problems for a small business(forty employees, two shifts).owned by two local men(one a R and the other a D}. I am all for some exceptions to state and federal laws for small businesses.
Thanks for the correction.
Thank you Duane for your comments. You and I have personal experience with small business. But I am by no means convinced that things are all that different with big business, except that they often have the resources to influence legislators. Big businesses rise and fall. Some have large cash balances I am sure, but many do not. Paying more for labor will only incentivize less labor being purchased. And we all know that less labor means more unemployment. Nobody in the world has the knowledge necessary to determine what a fair wage is for a given industry or what the correct price for a given product or service should be at a given moment because of the multitude of factors involved in prices and pricing. Best to leave those decisions to free people operating in free markets.
Denis, Jim, whoever you are,
you wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
We’re still waiting on how many employees Dimple’s has.
Denis/Jim, whoever you are,
You wrote, “Duane, I am a small business owner.”
1. What’s the name of your business?
2. Is it incorporated?
3. If so, what’s the name of your business on the letters of incorporation?
4. Where is it located?
You wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
5. Since you brought it up, how many employees do you have?
You wrote, “It must feel very good to lecture others about morality regarding wages, …”
Nope, it’s about capitalism, which you oppose. Slave wages are compensation which will only pay for room and board.
“Without spending–there are no sales;
Without sales–there are no profits;
Without profits–there is no demand for workers;
Without demand for workers–there is no job creation;
and without job creation–there is no recovery!”
@ptcherneva
Please watch the 98-second video of President Reagan saying, “without collective bargaining,” there is no freedom.”
Ronald Reagan: Collective Bargaining = Freedom (VIDEO)
John, what would be the point of sharing personal or business information with you when you won’t even believe easily verifiable information, such as my first and last name? And no, I don’t oppose capitalism. It is the least imperfect means to allocate resources, create wealth and new technologies and other improvements in our lives that you so ungratefully take for granted. And the term “slave wages” makes no sense as the wage of a slave is zero. Anyone earning a wage is by definition not a slave.
Denis, Jim, whoever you are, you wrote, “John, what would be the point of sharing personal or business information…”
You made it a “point.” You claimed you own a “small” business.
Your claims make it sound like all your employees make a lot less than $15.00/hour.
You wrote, “with you when you won’t even believe easily verifiable information, such as my first and last name?”
1. Are you confirming that you picked a handle, which just so happens to correspond to a real Wisconsin business?
2. You ignore socialism for the elites while insisting on austerity for everyone else. From where are you going to get c-u-s-t-o-m-e-r-s? You ignore the demand side of the equation.
Nothing happens until someone sells something.
You wrote, “It is the least imperfect means to allocate resources, create wealth and new technologies and other improvements in our lives that you so ungratefully take for granted.”
3. If there aren’t any customers, how are resources allocated?
You wrote, “And the term “slave wages” makes no sense as the wage of a slave is zero. Anyone earning a wage is by definition not a slave.”
4. How long will a slave live without water?
“Anyone could pretend to be Denis” says John Casper.
It is not so easy as you claim John. For starters, you have to be devilishly handsome like the “real” (as you call him) Denis Navratil featured in the video. And you must be logical, well read, articulate, sensible, etc… which pretty much eliminates BB commenters from impersonating me, er him. You indeed discovered a real Denis Navratil, business owner in Racine. You even found the correct telephone number. Now all that is left to do is alert the “real” Denis Navratil that someone has been writing newspaper columns, a blog, and participating in online discussions (ok beatings would be more accurate) at Blogging Blue for several years. How do you know that the person in the youtube video is the real Denis Navratil and not the impersonator? Maybe the business owner is impersonating yet another, even more real and as yet undiscovered Denis Navratil.
Denis,
At 8:24am you wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
From Dimples’ website:
“Dimple’s Fine Imports is a family owned import business, specializing in gemstone jewelry from India. Dimple grew up in Bombay, India. She met and married Denis in Chicago, Illinois. Dimple’s family connections have allowed the couple to make a business of jewelry wholesaling and retailing. The countries from which the goods come constitute a virtual tour of Asia, including India, Indonesia, Nepal, Tibet, Pakistan, Afghanistan, Sri Lanka, Thailand, and Vietnam, as well as Africa and Guatemala. However, the couple’s bread-and-butter is the jewelry, which is actually made by Dimple’s family members, who are silversmiths in India”
No reason now not to answer how many people you employ.
While you’re complaining about $15/hour minimum wage, Wall Street’s already scooping up virtually all the federal welfare, “5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives.”
They’re using the FDIC to “socialize” their derivative risk onto the taxpayers. Almost none of the $200 trillion “trickles down,” into the real economy. It’s most on interest rate swaps and credit derivative swaps, nothing into the real economy that that makes stuff or new technologies. To put $200 trillion in perspective, annual U.S. GDP is around $17 trillion. Social Security’s Trust fund is around $2.3 trillion. We blew at least $6 trillion in the Middle East occupations. “QE,” quantitative easing is another form of federal welfare that only helps the elites.
“The Wall Street bonus pool for last year is roughly double the total earnings of all Americans who work full time at the federal minimum wage.”
“…Let’s start with the Wall Street bonuses. The New York State Comptroller reported on Wednesday that the size of the bonus pool paid to securities industries employees in New York City was $28.5 billion. Dividing this total among 167,800 workers yields an average bonus of $172,860, which seems plausible enough. For sure, some received much, much bigger bonuses, and many received nothing.
What about the total earnings of full-time workers at the federal minimum wage? The Bureau of Labor Statistics reports that there are 1.03 million full-time workers paid an hourly wage of $7.25 or less. These people tend to work around 40 hours a week on average. If they all earn $7.25 per hour and work 50 weeks per year, the total earnings of this group come to nearly $15 billion. Ms. Anderson, whose report usefully shows all her work, prefers an estimate of 37 hours per week — which looks too low to me based on other data — and 52 weeks per year, so after rounding, she gets to a total of $14 billion.
Do you still hold the positions you took back in 2012?
“The more I learn about Islam, the less I would want it in my neighborhood. That said, I am an adherent of property rights and a freedom of religion (unlike much of Islam) so I wouldn’t stand in the way.”
and
“Would you care to list anything in particular that you “learn about Islam” that you find objectionable?” asks MM.
Sure, lets start with the founder, Muhammed, a very violent man and a pedophile to boot.”
and
“Memory Man, how is my response not an answer? I have learned that the founder of Islam was violent and a pedophile. Am I wrong about that? And what “scathing” attack are you referring to? I simply indicated that I wouldn’t want a mosque in my neighborhood but that, as an advocate of property rights and freedom of religion, I wouldn’t stand in the way. Do you really find that to be a “scathing” attack? Regarding the violence of Muhammed and his pedophilia, I believe it is simply true and should not therefore be considered an attack. Of course if I am wrong about Muhammed, please enlighten me.”
and
“Other Side, as a starter, try a Wikipedia search of Muhammed’s wives. Muhammed had one wife, betrothed at age 7 or so, consummated at age nine; plenty of references included in case you are inclined to dismiss Wikipedia outright. Regarding the repeated efforts to bring Christianity into this discussion for some reason, I will pass and leave it to others to compare the behavior of Mohammed with that of Jesus.”
and
“Memory Man, the information pertaining to Muhammed’s child bride is in the Koran. Wikipedia is useful as a shortcut to more easily find the truth in the Koran that you apparently are unable or unwilling to confront.
And Other Side, I am never impressed with the “other guys are bad too” argument which is the gist of what you are saying. If its all the same with the people on this site, I will find someone other than a violent pedophile to emulate. And of course there are innocent worshippers and I never said there weren’t.”
and
“I am not running from you MM. Initially you asked what I have learned about Islam that I found objectionable. Thereafter I mentioned the violence and pedophilia of Muhammed, the first Muslim. You then wanted my source. I directed you to look into my claim via sources listed at Wikipedia. Now you are badgering me about a whole list of questions, when you haven’t addressed as yet, or at least in a mature manner, my first claim about the violence and the pedophilia. So why not answer my questions? Was Muhammed, who consummated a “marriage” with a nine year old girl, a pedophile? Or, do you claim that Muhammed did not consummate with said young bride? Or, is sex with a nine year old girl not pedophilia for some reason? Do you find pedophilia objectionable? Does it offend you that I think sex with a nine year old is wrong? Should we hide from true statements about Muhammed for some reason? What is the reason?”
and
“Other Side, I agree that events of 1400 years ago would, under most circumstances, be irrelevant today. However, we are talking about the leader of a huge present-day religion, who’s actions then are quite relevant to his followers. I think it is safe to say that much objectionable behavior can and is justified by pointing to the example of Muhammed.
Regarding Jesus’ sexuality, I don’t know of any reputable sources that claim Jesus was gay, though I think a whole lot of folks wish he were. Regarding future historians and Jesus, it would be unfair to claim Jesus was gay if he wasn’t. Lastly, I am not a cultural relativist, wherein any behavior is acceptable, so long as it is a part of your culture. Some things are just wrong. Wrong then, wrong now. I would include pedophilia among those wrongs.”
If those are still your beliefs, have you disclosed to your Afghan and Indonesian suppliers what you think of Islam?
You were and are bringing Islamic stuff into your “neighborhood.”
W/R/T your comment that I should “alert” someone, should I contact the Racine Journal Times? Would their reporters and editors find your comments about Islam newsworthy in light of your admission that you own “Dimples?”
I think they’d prefer to hear from you, the owner. Below are their contact numbers.
Would the publicity from such coverage boost sales?
Not sure what you are finding objectionable or what your point is. I had and have serious concerns about Islam, or at least some of the more fervent adherents who are causing problems worldwide. That said, I have sold a few products over the years that come from predominantly Muslim nations. I don’t ask people what their religion is if they are selling a product that I think customers might want to purchase. Feel free to call the Journal Times for whatever reason of your choosing. I don’t write for them anymore.
john, reading this last rant and looking at the top of the page to be sure I’m on the right post, I’ve gotta say, there are many decaffeinated versions on the market that are just as tasty as the real thing.
Note, it was actually Henry Ford, the owner of the Ford Motor Company, who was the brainchild behind the idea of the 40-hour work week. A little history goes a long way!
Actually, you should have read that entire article Vince. I’ve added some emphasis just in case you need some help.
Eight-hour days became rallying cries in the latter half of the 19th century, as workers in the building trades and similar industries marched together for better conditions. The Ford Motor Company advanced the idea in 1914, when it scaled back from a 48-hour to a 40-hour workweek after founder Henry Ford believed that too many hours were bad for workers’ productivity.
The formation of unions helped to strengthen the idea of working five days a week as well. In 1937, auto plant workers staged a sit-down strike in Flint, Michigan, to protest bleak conditions at General Motors that included no bathroom breaks, no benefits or sick pay and no safety standards.
The negotiations between GM and the United Auto Workers ultimately improved working conditions. The federal government would show its support when Congress passed the Fair Labor Standards Act in 1938, a key part of President Franklin D. Roosevelt’s New Deal.
You’re welcome.
Denis,
Can you provide some links for your assertions about the closing of businesses that would ensue should a $15 minimum wage be enacted? Let’s not just take your word for it.
Where is your link proving that a dramatic increase in the price of labor would not result in business closings? Or better yet, forget the link and use common sense instead. What happens when costs go up? Demand goes down, right? If demand for labor decreases, we have an increase in unemployment.
Denis, Jim, whoever, you are, here are four links.
FDR appointed wealthy Utah banker Marrineer Eccles to the Federal Reserve in 1933:
“It is utterly impossible, as this country has demonstrated again and again, for the rich to save as much as they have been trying to save, and save anything that is worth saving. They can save idle factories and useless railroad coaches; they can save empty office buildings and closed banks; they can save paper evidences of foreign loans; but as a class they can not save anything that is worth saving, above and beyond the amount that is made profitable by the increase of consumer buying. It is for the interests of the well to do – to protect them from the results of their own folly – that we should take from them a sufficient amount of their surplus to enable consumers to consume and business to operate at a profit. This is not “soaking the rich”; it is saving the rich. Incidentally, it is the only way to assure them the serenity and security which they do not have at the present moment.”
“As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth, … to provide men (sic) with buying power. … Instead of achieving that kind of distribution, a giant suction pump, had by 1929 – 30 drawn into a few hands an increasing proportion of currently produced wealth … The other fellows could only stay in the game by borrowing. When their credit ran out, the game stopped.” –Marrineer Eccles
Denis, where are your links? You ignored all four that I provided.
Denis,
In response to Steve Carlson’s request for links, you wrote,
“Where is your link proving that a dramatic increase in the price of labor would not result in business closings?”
I responded with four links.
Where are your links?
John,
Your are putting in far to much effort. Mr. Navratil is no Owen Robinson. They do run in the same circle of those who offer opinions, often trying to capitalize on them, but rarely offer any facts to back up the opinions. Doing a couple of low budget radio or streaming interviews hosted by some no name, writing an op ed or blogging doesn’t make him an expert on anything except his own ego. Narcissists never see the other of the argument nor do they care.
WB writes “Narcissists never see the other of the argument.”
Was that an argument WB? Do you agree or disagree with Duane and I that small businesses should be exempt from the progressive wet dream of a living wage? Are you with Steve or with me regarding the effects a dramatic increase in wages would have on unemployment. It is true that that I never see both sides of non-existant arguments.
My wife has her own small business. All of her employees make between $12 and $15 per hour depending on skills, education and performance. She also manages to keep the price of her services at or below the competition while maintaining a superior product offered by more qualified staff. Hence, enticing customers. The increase in wages should be incremental but it should most certainly happen. Was “that that” last sentence a question or a statement?
Correction: Narcissists never see the other SIDE of the argument nor do they care.
No surprise trademark, you’re against President Reagan.
Link is to a 98-second video of President Reagan saying, “without collective bargaining,” there is no freedom.”
Ronald Reagan: Collective Bargaining = Freedom (VIDEO)
Any entrepreneur or small businessman knows he cannot make a living working 40 hours a week–A big reason people go to work for the man with a union. And he/she holds disdain for those who do. What have you done for us lately? How have you helped labor go into the 21st century? Come on! New ideas! new methods!
One thing organized religion must do for its believers is to recognize and condemn as an intrinsic evil is the denial of a “living wage” by greedy owners of business; also known as the 1%, the modern day robber barons, or those who exploit or deny the worker a just wage or benefits or work conditions or representation.
I must admit there are businesses whose owner are morally responsible in paying a living wage. I worked for one and was able to retire at 62.
Before you jump to any conclusions, profit by itself is not evil. It can be used to mankind’s benefit. It is the unjust means, greedy intention, or bad circumstances which corrupts the end result, profit, making it intrinsically evil. There is nothing wrong with profit in which all parties are paid in proportion to their effort and contribution to the end product and the consumer receives value for his purchase.
http://www.catechism.cc/articles/moral-object.htm
In my opinion, and judging from many sermons I have heard, many of the current religions including mine are only or overly concerned with the abortion of the “unborn.” They fail to see that denial of a living wage for the born results in an economic death known as poverty which has a FAR GREATER IMPACT on society than abortion. The solution to end poverty is not food pantries; it is a living wage as negotiated by a union.
And a living wage could also have a favorable impact in the reduction of abortions.
As a Catholic, I was taught a worker’s union was a step up in combating or replacing serfdom, slavery, indentureship, and other inhumane forms of employment. With the power “purchased” from our elected representatives by the business colossus of today, organized religion must meet its moral obligation to advocate for the worker and decry the greed and inhumanity of some or many of the 1%.
Amen, brothers and sisters!
Duane, I am a small business owner. While you don’t define what you mean by a “living wage” in dollar terms, I suspect that it means I would have to pay considerably more for labor than I do presently. I believe it is a fantasy held by many progressives that business owners are sitting on piles of cash, greedily withholding it from deserving employees. Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees. It must feel very good to lecture others about morality regarding wages, but for many businesses large and small, the money needed to be moral in your eyes simply isn’t there. These businesses would simply shut down and people making less than a “living wage” would then earn nothing and be denied the skill development that jobs offer besides cash compensation. Would shutting down my business, denying employees compensation and experience, depriving customers of our goods and services, and ending my contribution to the tax base… be a positive development in your view?
I agree.
Of course, small businesses were not included or considered in my analysis.
As a CFO for a small manufacturing plant for 10 years, I know of and appreciate the unique problems for a small business(forty employees, two shifts).owned by two local men(one a R and the other a D}. I am all for some exceptions to state and federal laws for small businesses.
Thanks for the correction.
Thank you Duane for your comments. You and I have personal experience with small business. But I am by no means convinced that things are all that different with big business, except that they often have the resources to influence legislators. Big businesses rise and fall. Some have large cash balances I am sure, but many do not. Paying more for labor will only incentivize less labor being purchased. And we all know that less labor means more unemployment. Nobody in the world has the knowledge necessary to determine what a fair wage is for a given industry or what the correct price for a given product or service should be at a given moment because of the multitude of factors involved in prices and pricing. Best to leave those decisions to free people operating in free markets.
Denis, Jim, whoever you are,
you wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
We’re still waiting on how many employees Dimple’s has.
Denis/Jim, whoever you are,
You wrote, “Duane, I am a small business owner.”
1. What’s the name of your business?
2. Is it incorporated?
3. If so, what’s the name of your business on the letters of incorporation?
4. Where is it located?
You wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
5. Since you brought it up, how many employees do you have?
You wrote, “It must feel very good to lecture others about morality regarding wages, …”
Nope, it’s about capitalism, which you oppose. Slave wages are compensation which will only pay for room and board.
“Without spending–there are no sales;
Without sales–there are no profits;
Without profits–there is no demand for workers;
Without demand for workers–there is no job creation;
and without job creation–there is no recovery!”
@ptcherneva
Please watch the 98-second video of President Reagan saying, “without collective bargaining,” there is no freedom.”
Ronald Reagan: Collective Bargaining = Freedom (VIDEO)
http://bloggingblue.com/2015/03/ronald-reagan-collective-bargaining-freedom-video/
John, what would be the point of sharing personal or business information with you when you won’t even believe easily verifiable information, such as my first and last name? And no, I don’t oppose capitalism. It is the least imperfect means to allocate resources, create wealth and new technologies and other improvements in our lives that you so ungratefully take for granted. And the term “slave wages” makes no sense as the wage of a slave is zero. Anyone earning a wage is by definition not a slave.
Denis, Jim, whoever you are, you wrote, “John, what would be the point of sharing personal or business information…”
You made it a “point.” You claimed you own a “small” business.
Your claims make it sound like all your employees make a lot less than $15.00/hour.
You wrote, “with you when you won’t even believe easily verifiable information, such as my first and last name?”
1. Are you confirming that you picked a handle, which just so happens to correspond to a real Wisconsin business?
“DIMPLE’S FINE IMPORTS, LLC
416 Main Street
Racine, WI 53403
Phone: 262.619.1780
Fax: 262.619.1781
https://www.dimplesimports.com/contact
Here’s a youtube of the real Denis.
https://www.youtube.com/watch?v=Gyg6eXoY6ZQ
Anyone could pretend to be Denis.
You wrote, “And no, I don’t oppose capitalism.”
2. You ignore socialism for the elites while insisting on austerity for everyone else. From where are you going to get c-u-s-t-o-m-e-r-s? You ignore the demand side of the equation.
Nothing happens until someone sells something.
You wrote, “It is the least imperfect means to allocate resources, create wealth and new technologies and other improvements in our lives that you so ungratefully take for granted.”
3. If there aren’t any customers, how are resources allocated?
You wrote, “And the term “slave wages” makes no sense as the wage of a slave is zero. Anyone earning a wage is by definition not a slave.”
4. How long will a slave live without water?
“Anyone could pretend to be Denis” says John Casper.
It is not so easy as you claim John. For starters, you have to be devilishly handsome like the “real” (as you call him) Denis Navratil featured in the video. And you must be logical, well read, articulate, sensible, etc… which pretty much eliminates BB commenters from impersonating me, er him. You indeed discovered a real Denis Navratil, business owner in Racine. You even found the correct telephone number. Now all that is left to do is alert the “real” Denis Navratil that someone has been writing newspaper columns, a blog, and participating in online discussions (ok beatings would be more accurate) at Blogging Blue for several years. How do you know that the person in the youtube video is the real Denis Navratil and not the impersonator? Maybe the business owner is impersonating yet another, even more real and as yet undiscovered Denis Navratil.
Denis,
At 8:24am you wrote, “Simply put, if I was required to pay a “living wage” for employees, even if that was as low as $15 per hour, I would in all likelihood have to let go of every one of my employees.”
From Dimples’ website:
“Dimple’s Fine Imports is a family owned import business, specializing in gemstone jewelry from India. Dimple grew up in Bombay, India. She met and married Denis in Chicago, Illinois. Dimple’s family connections have allowed the couple to make a business of jewelry wholesaling and retailing. The countries from which the goods come constitute a virtual tour of Asia, including India, Indonesia, Nepal, Tibet, Pakistan, Afghanistan, Sri Lanka, Thailand, and Vietnam, as well as Africa and Guatemala. However, the couple’s bread-and-butter is the jewelry, which is actually made by Dimple’s family members, who are silversmiths in India”
https://www.dimplesimports.com/about-us
No reason now not to answer how many people you employ.
While you’re complaining about $15/hour minimum wage, Wall Street’s already scooping up virtually all the federal welfare, “5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives.”
http://www.zerohedge.com/news/2014-09-25/5-us-banks-each-have-more-40-trillion-dollars-exposure-derivatives
They’re using the FDIC to “socialize” their derivative risk onto the taxpayers. Almost none of the $200 trillion “trickles down,” into the real economy. It’s most on interest rate swaps and credit derivative swaps, nothing into the real economy that that makes stuff or new technologies. To put $200 trillion in perspective, annual U.S. GDP is around $17 trillion. Social Security’s Trust fund is around $2.3 trillion. We blew at least $6 trillion in the Middle East occupations. “QE,” quantitative easing is another form of federal welfare that only helps the elites.
“The Wall Street bonus pool for last year is roughly double the total earnings of all Americans who work full time at the federal minimum wage.”
“…Let’s start with the Wall Street bonuses. The New York State Comptroller reported on Wednesday that the size of the bonus pool paid to securities industries employees in New York City was $28.5 billion. Dividing this total among 167,800 workers yields an average bonus of $172,860, which seems plausible enough. For sure, some received much, much bigger bonuses, and many received nothing.
What about the total earnings of full-time workers at the federal minimum wage? The Bureau of Labor Statistics reports that there are 1.03 million full-time workers paid an hourly wage of $7.25 or less. These people tend to work around 40 hours a week on average. If they all earn $7.25 per hour and work 50 weeks per year, the total earnings of this group come to nearly $15 billion. Ms. Anderson, whose report usefully shows all her work, prefers an estimate of 37 hours per week — which looks too low to me based on other data — and 52 weeks per year, so after rounding, she gets to a total of $14 billion.
…”
http://www.nytimes.com/2015/03/14/upshot/wall-street-bonuses-vs-total-earnings-of-full-time-minimum-wage-workers.html?abt=0002&abg=1http://
Denis,
Do you still hold the positions you took back in 2012?
“The more I learn about Islam, the less I would want it in my neighborhood. That said, I am an adherent of property rights and a freedom of religion (unlike much of Islam) so I wouldn’t stand in the way.”
and
“Would you care to list anything in particular that you “learn about Islam” that you find objectionable?” asks MM.
Sure, lets start with the founder, Muhammed, a very violent man and a pedophile to boot.”
and
“Memory Man, how is my response not an answer? I have learned that the founder of Islam was violent and a pedophile. Am I wrong about that? And what “scathing” attack are you referring to? I simply indicated that I wouldn’t want a mosque in my neighborhood but that, as an advocate of property rights and freedom of religion, I wouldn’t stand in the way. Do you really find that to be a “scathing” attack? Regarding the violence of Muhammed and his pedophilia, I believe it is simply true and should not therefore be considered an attack. Of course if I am wrong about Muhammed, please enlighten me.”
and
“Other Side, as a starter, try a Wikipedia search of Muhammed’s wives. Muhammed had one wife, betrothed at age 7 or so, consummated at age nine; plenty of references included in case you are inclined to dismiss Wikipedia outright. Regarding the repeated efforts to bring Christianity into this discussion for some reason, I will pass and leave it to others to compare the behavior of Mohammed with that of Jesus.”
and
“Memory Man, the information pertaining to Muhammed’s child bride is in the Koran. Wikipedia is useful as a shortcut to more easily find the truth in the Koran that you apparently are unable or unwilling to confront.
And Other Side, I am never impressed with the “other guys are bad too” argument which is the gist of what you are saying. If its all the same with the people on this site, I will find someone other than a violent pedophile to emulate. And of course there are innocent worshippers and I never said there weren’t.”
and
“I am not running from you MM. Initially you asked what I have learned about Islam that I found objectionable. Thereafter I mentioned the violence and pedophilia of Muhammed, the first Muslim. You then wanted my source. I directed you to look into my claim via sources listed at Wikipedia. Now you are badgering me about a whole list of questions, when you haven’t addressed as yet, or at least in a mature manner, my first claim about the violence and the pedophilia. So why not answer my questions? Was Muhammed, who consummated a “marriage” with a nine year old girl, a pedophile? Or, do you claim that Muhammed did not consummate with said young bride? Or, is sex with a nine year old girl not pedophilia for some reason? Do you find pedophilia objectionable? Does it offend you that I think sex with a nine year old is wrong? Should we hide from true statements about Muhammed for some reason? What is the reason?”
and
“Other Side, I agree that events of 1400 years ago would, under most circumstances, be irrelevant today. However, we are talking about the leader of a huge present-day religion, who’s actions then are quite relevant to his followers. I think it is safe to say that much objectionable behavior can and is justified by pointing to the example of Muhammed.
Regarding Jesus’ sexuality, I don’t know of any reputable sources that claim Jesus was gay, though I think a whole lot of folks wish he were. Regarding future historians and Jesus, it would be unfair to claim Jesus was gay if he wasn’t. Lastly, I am not a cultural relativist, wherein any behavior is acceptable, so long as it is a part of your culture. Some things are just wrong. Wrong then, wrong now. I would include pedophilia among those wrongs.”
http://bloggingblue.com/2012/04/opposition-to-brookfield-wisconsin-mosque-clearly-not-about-traffic-concerns/
You import from Afghanistan and Indonesia.
“Struggle for the Soul of Islam: Inside Indonesia”
http://www.pbs.org/weta/crossroads/about/show_indonesia.html
If those are still your beliefs, have you disclosed to your Afghan and Indonesian suppliers what you think of Islam?
You were and are bringing Islamic stuff into your “neighborhood.”
W/R/T your comment that I should “alert” someone, should I contact the Racine Journal Times? Would their reporters and editors find your comments about Islam newsworthy in light of your admission that you own “Dimples?”
I think they’d prefer to hear from you, the owner. Below are their contact numbers.
http://journaltimes.com/contact-journal-times-staff/article_f53d67d2-d096-11e3-94d8-001a4bcf887a.html
Would the publicity from such coverage boost sales?
Not sure what you are finding objectionable or what your point is. I had and have serious concerns about Islam, or at least some of the more fervent adherents who are causing problems worldwide. That said, I have sold a few products over the years that come from predominantly Muslim nations. I don’t ask people what their religion is if they are selling a product that I think customers might want to purchase. Feel free to call the Journal Times for whatever reason of your choosing. I don’t write for them anymore.
john, reading this last rant and looking at the top of the page to be sure I’m on the right post, I’ve gotta say, there are many decaffeinated versions on the market that are just as tasty as the real thing.
Note, it was actually Henry Ford, the owner of the Ford Motor Company, who was the brainchild behind the idea of the 40-hour work week. A little history goes a long way!
http://www.nbcnews.com/news/us-news/where-did-40-hour-workweek-come-n192276
Actually, you should have read that entire article Vince. I’ve added some emphasis just in case you need some help.
You’re welcome.
Denis,
Can you provide some links for your assertions about the closing of businesses that would ensue should a $15 minimum wage be enacted? Let’s not just take your word for it.
Where is your link proving that a dramatic increase in the price of labor would not result in business closings? Or better yet, forget the link and use common sense instead. What happens when costs go up? Demand goes down, right? If demand for labor decreases, we have an increase in unemployment.
Denis, Jim, whoever, you are, here are four links.
FDR appointed wealthy Utah banker Marrineer Eccles to the Federal Reserve in 1933:
“It is utterly impossible, as this country has demonstrated again and again, for the rich to save as much as they have been trying to save, and save anything that is worth saving. They can save idle factories and useless railroad coaches; they can save empty office buildings and closed banks; they can save paper evidences of foreign loans; but as a class they can not save anything that is worth saving, above and beyond the amount that is made profitable by the increase of consumer buying. It is for the interests of the well to do – to protect them from the results of their own folly – that we should take from them a sufficient amount of their surplus to enable consumers to consume and business to operate at a profit. This is not “soaking the rich”; it is saving the rich. Incidentally, it is the only way to assure them the serenity and security which they do not have at the present moment.”
http://www.nakedcapitalism.com/2011/09/marriner-eccles-on-the-need-to-save-the-rich-from-themselves.html
From his book, “Beckoning Frontiers,” in 1966.
“As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth, … to provide men (sic) with buying power. … Instead of achieving that kind of distribution, a giant suction pump, had by 1929 – 30 drawn into a few hands an increasing proportion of currently produced wealth … The other fellows could only stay in the game by borrowing. When their credit ran out, the game stopped.” –Marrineer Eccles
http://en.wikipedia.org/wiki/Marriner_Stoddard_Eccles
“GRAPH: As Union Membership Has Declined, Income Inequality Has Skyrocketed In The United States”
http://thinkprogress.org/politics/2011/03/03/147994/unions-income-inequality/
“Homeownership rate drops to 63.4%, lowest since 1967”
http://www.cnbc.com/2015/07/28/home-ownership-rates-drop-to-lowest-since-1967.html
Denis, where are your links? You ignored all four that I provided.
Denis,
In response to Steve Carlson’s request for links, you wrote,
“Where is your link proving that a dramatic increase in the price of labor would not result in business closings?”
I responded with four links.
Where are your links?
John,
Your are putting in far to much effort. Mr. Navratil is no Owen Robinson. They do run in the same circle of those who offer opinions, often trying to capitalize on them, but rarely offer any facts to back up the opinions. Doing a couple of low budget radio or streaming interviews hosted by some no name, writing an op ed or blogging doesn’t make him an expert on anything except his own ego. Narcissists never see the other of the argument nor do they care.
WB writes “Narcissists never see the other of the argument.”
Was that an argument WB? Do you agree or disagree with Duane and I that small businesses should be exempt from the progressive wet dream of a living wage? Are you with Steve or with me regarding the effects a dramatic increase in wages would have on unemployment. It is true that that I never see both sides of non-existant arguments.
My wife has her own small business. All of her employees make between $12 and $15 per hour depending on skills, education and performance. She also manages to keep the price of her services at or below the competition while maintaining a superior product offered by more qualified staff. Hence, enticing customers. The increase in wages should be incremental but it should most certainly happen. Was “that that” last sentence a question or a statement?
Correction: Narcissists never see the other SIDE of the argument nor do they care.
No surprise trademark, you’re against President Reagan.
Link is to a 98-second video of President Reagan saying, “without collective bargaining,” there is no freedom.”
Ronald Reagan: Collective Bargaining = Freedom (VIDEO)
http://bloggingblue.com/2015/03/ronald-reagan-collective-bargaining-freedom-video/
trademark, have you ever bought anything from “Dimple’s” in Racine?