As many economists expected, the minimun wage in Seattle of $15.00 resulted in less hours worked per week and fewer jobs in addition to some people earning more money per week. In others words, it only helped some people at the expense of others, neutralizing or negating the expected benefits. This is what I like to call the “Contraindications” of social policies, just like pharmaceutical drugs all have negative side effects, so do all social polices. That’s right, “all” social policies have contraindications.
Adam Smith argued this in the 1750s, Frederic Bastiat in the 1850s and many more since then. Low and behold, we keep getting more a more evidence of this same conclusion. Jacob Vigor in this talk with Russ Roberts, summarizes the results of a study he and his group are conducting, arguing that while some workers earned higher wages, some or all of the gains were offset by reductions in hours worked and a reduction in the rate of job creation especially for low-skilled workers; obviously not what was entended.
Economists have long known this yet the narrative among the democratic socialist movement and mainstream media is that white men are causing it. As if we all sit in our cushy glass offices looking for ways to keep women from coming up through the glass ceiling. The facts are women don’t grow up wanting to be auto mechanics, plumbers, welders or any job that gets their hands dirty or could break a nail. On top of that, they usually end up having children that distract them from their careers an almost never go into the same line of work they went to college for. Many little girls grow up wanting to be sexy vocalists, actresses or dancers and of course Hollywood and the music industry are there to take advantage of them with promises of wealth a grandeur. Most of us white guys have wives and daughters.
Very evil people in government positions of power have been staging events to precipitate wars for perhaps longer then we know and they are never punished. Even some of the Presidents of the United States have been involved. War is perhaps the single biggest business in our world and they have all been stagged, since at least the U. S. Civil War for primarily one purpose. The manufacturing and sale of products and supplies of war to the governments and they are using your tax dollars to do it. As an example, if you don’t think the oil companies and refineries have a vested interest in selling jet fuel to the governments of the world, you must be one of their shareholders.
If you have not seen the video, it shows that every war since the 1898 Spanish America War including WWI and WWII were started by either false stories and/or criminal activities and events done by those in our own government to make it look as if we have been aggressed upon. Even the Civil War was precipitated by wealthy special interest and with the Union military antagonizing the south into defending itself. The first shots fired by the south were in self- defense.
Why? War is very profitable for those who make weapons and the supplies even things like food for the soldiers. Over 139 million military combatants have lost their lives in just the 20th century, of course, most of them certainly not the children of those profiting from the wars. They are of course at Harward or Yale with college deferments.
I have read reports like the one in the below link and then I never see or hear anything again. If true, it is good to see a State standing up for both sound money policy and States rights.
The Constitution is very clear in the mandate that no state shall make “any Thing” but gold and silver coin a tender in payment of Debts. Of course, the States are also prohibited from coining their own money in the same clause, under Article I, section 10, so the States have been Constitutionally remiss in allowing and use of printed or digitized paper money since 1933 when FDR unlawfully confiscated gold from the Citizens via Presidential Executive Order 6102 when signed it on April 5, 1933.
Those who allowed FDR to unlawfully abrogated the Constitution also enacted a law that “any entity that made a profit on the transfer of silver bullion, had to pay a full 50% of that profit as a tax. The Silver Tax Act was imposed in 1934 and lasted until 1963, also stifling the use of silver.
In reality, our nations monetary system had been unlawfully overthrown and the central bankers, with their privately owned and administered Federal Reserve Bank of the United States was now firmly in control of the monopoly powers granted to them in the Federal Reserve Act of 1913, when the bank was granted its Charter.
This is perhaps the greatest of the unlawful abrogations of our Consitution but there have been many others. Sadly, the Judiciary as they are bound to do by Oath, have been also illegally remiss in upholding the Constitution of the United States. Go figure, Attorneys willing to sell their souls for power and privilege.
FYI: In order to satisfy the legitimacy of his actions, FDR had declared the State of Emergency predicated on the Great Depression, the one that we now can prove was exacerbated by the very same Central banking interests that were behind FDR’s actions. In 1911 these same interests met at Jekyll Island, GA at the then owned hunting estate of J.P. Morgan, to plan and implement the Federal Reserve Act, the 16 Amendment, and the Revenue Tax Act of 1913 all giving greater power to our ever-expanding centralized Federal government. The non-fiction book The Creature from Jekyll Island by Ed Griffin details the meeting and FDRs other traitorous actions.
If you think these actions were done to protect the interests of the American people, you should keep voting Democrat and Republican because you deserve their continuous lies. If Donald Trump was really interested in Making America Great Again, he would be calling for the abolition of the Federal Reserve Bank and Income tax es on labor as those like former Congressman Dr. Ron Paul and others have done.
Just one example: Eugene Meyer, the then Chairman of the Federal Reserve bought the Washington Post out of Bankruptcy in 1933 for pennies on the dollar, after Wapo had defaulted on their loans which the very bankers had given them.
Does the recent home and commercial property foreclosure epidemic now make more sense? They lent $Billion to people who could afford the loans as long as the economy was strong, then they stopped lending money to slow down the economy and millions defaulted on their loans. These banking interests have been exacerbating the naturally occurring recession/recovery cycles using their monopoly powers through the controls of interest rates, bank reserved requirement, and the money supply. They can then buy up the assets for pennies on the dollar and it’s now paper or digitally created money that they can literally print on demand so if they do take a loss, it’s simply digits on their computers.
Now banks like J.P. Morgan are buying up millions in silver and gold contracts, using the same digital money the bankers create out of thin air.
With over 3 million YouTube views, The Hidden Secrets of Money by economist Mike Maloney is a video series that I highly recommend to you, your family and friends. Debi and I just finished Episode 9 and she said, everyone needs to watch this. So please watch it and spread it all over the world because even though it focuses on the U.S. and our monetary system, it is applicable to every country in the world.