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Thu May 13, 2021, 02:05 PM

Higher nationwide wages and/or a living wage can create a recession-proof economy..

by putting money in everyone's pocket.

It's why countries like Sweden, Norway, Finland etc don't feel the effects of global recessions.

Meanwhile the chest-thumping USA has nearly collapsed multiple times since the Great Depression, requiring massive government bail-outs to save capitalism from itself. It happened again in 2007-08. In 2020, Covid brought on a new kind of near-collapse. I still see vacant, boarded up businesses everywhere I look. Casualties of a global pandemic. Govt stimulus helped our nation survive by putting money in peoples pockets with unemployment benefits and stimulus checks. Vaccines will set us free.

Recessions happen when the poorest 90% of a population goes broke, from low wages to lay-offs.

Keeping 90% of our population poor has us wandering straight forward toward the next recession, the next housing collapse, the next banking crisis.

This cycle will only continue to repeat itself until we open our eyes and push our country to raise wages.

Living wages can act like a brick wall to the next incoming recession.

As long as humans have a need to eat, have a roof over our heads, need clothing, transportation, clean water, sewage and sanitation services etc, we will always have the basis of a strong economy

IF WE WOULD ONLY PAY OUR WORKERS A LIVING WAGE.

Its that fucking simple.

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Reply Higher nationwide wages and/or a living wage can create a recession-proof economy.. (Original post)
Imallin4Joe May 2021 OP
Imallin4Joe May 2021 #1
KPN May 2021 #2
Imallin4Joe May 2021 #3
KPN May 2021 #4
Wounded Bear May 2021 #5

Response to Imallin4Joe (Original post)

Thu May 13, 2021, 03:21 PM

1. Bump.

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Response to Imallin4Joe (Original post)

Thu May 13, 2021, 03:26 PM

2. 90% isn't accurate, but whatever it is, it's

way too many and way too many more are just making ends meet ó above the poverty line but living a financially stressful existence none the less. Oh, and all those millions of homes that have sold at inflated prices to people who can finally afford a home because they can make a payment on a 2 point something percent interest 30 year mortgage, what do you suppose is going to happen to all those peoplesí finances (and the housing market/economy) when the already occurring inflation directly affects their pocketbooks?

You are absolutely right. We need to do everything within our power to ensure that everyone in the workforce gets a livable wage. And for large swaths of the country, thatís at least $20-25 an hour ( not $15) at the absolute minimum for an individual living alone.

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Response to KPN (Reply #2)

Thu May 13, 2021, 04:44 PM

3. Testify! Damn fine reply.

I'd have a hard time arguing against anything you said. Not that I'd argue your points but just saying..

This shit is so basic, so simple that we can agree from a point where most people come from.

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Response to Imallin4Joe (Reply #3)

Thu May 13, 2021, 04:48 PM

4. ....

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Response to Imallin4Joe (Original post)

Thu May 13, 2021, 05:00 PM

5. From the 40's to the 70's, the economy basically boomed...

the business cycle hiccuped every 5 years or so, but for the most part it was a period of steady growth in the middle class.

One thing that happened back then? Regular increases in the minimum wage. Since Reagan, increases have happened maybe every 5 years or so, and none since about 2009, IIRC.

Coincidence? Yeah, sure.

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