Not enough in the DC area.
Sigh, more nonsense. Too bad that most of the evil businessmen who issue those pink slips are republicans.And rMoney would have had unemployment at 0% by now, if not lower, of course.
Tell that to the 5000+ Intel workers laid off about a week ago among others…
When all wages go up, it is usually accompanied with an across the board increase in prices. We called it inflation when I took econ (got an A, BTW). It’s a great way to trim down the impact of paying off the trillions of dollars in debt accrued by this administration.
Economy still isn’t doing great in my county, unemployment is still at 10%, but during the Bush years, it ran from 22 to 38%, and the current numbers are NOT those who stopped looking, they’re folks who finally found jobs. We still need more jobs to bring back retail stores, and it’s hard to create good production jobs when your transportation system sucks because they took out infrastructure (railroads), and you’re remote.
The GOP has done a good job of blocking all economic expansion. Blocking the unemployment insurance alone is killing 300,000 jobs this year, according to the CBO and Bloomberg, and the incomprehensible GOP-forced shut down last fall knocked .3% off of economic growth.
I never made a claim that one manufacturer would be advantaged or disadvantaged. What I said is that it would result in inflation. Your example of an increase in aluminum costs would similarly lead to inflation. .It would seem your philosophy/logic grade was in the lower quintile, too. Or was it your reading grade?
You are correct that increased fuel prices did not lead to increased costs – for most things. That is because the US has a very energy efficient economy. Using 2008 as a reference year, the US generated 54.8¢ in GDP per kWh of energy consumed. For China, the same figure was 18.2¢, whereas it was 17.2¢ in India (Sorry I don’t have a reference for this. Poke around a little on Wikipedia and you can find the energy consumption and GDP data. I presume your math skills are up to a little division. If not, tap into that transoceanic fiber optic cable and ask an engineer in India.). This means our economy is some 3x less sensitive to energy prices than that of India or China..But that’s all besides the point. Nothing you say counters wasradar’s statement of fact that a small business either takes it in the pants or raises prices. And when everyone raises prices, you have inflation. It was true before the internet and it will be true after whatever replaces the internet.
May 31, 2016
May 24, 2016