CEO cuts own pay, raises workers' salaries

[WombRaider]

Originally Posted by I B Hankering

It's inflationary wages that contributed to the inflated price of a Coke in the U.S., you "#Grubered", freelance faggot, Odumbo Minion from Arkansas. For decades, Coke was able to keep its prices low because of technological and marketing innovations, but eventually the cost of labor associated with producing its product and associated with the costs of its supplies forced Coke to increase its price, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas.

Just a reminder, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas, the economic term is "Wage Push Inflation", and it refers to any increase in price brought on by increased labor costs, i.e., minimum wage requirement.

The entire thing is predicated on keeping profits high. God forbid you don't get to buy that third car.

[shanm]

Originally Posted by I B Hankering

It's inflationary wages that contributed to the inflated price of a Coke in the U.S., you "#Grubered", freelance faggot, Odumbo Minion from Arkansas. For decades, Coke was able to keep its prices low because of technological and marketing innovations, but eventually the cost of labor associated with producing its product and associated with the costs of its supplies forced Coke to increase its price, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas.

Just a reminder, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas, the economic term is "Wage Push Inflation", and it refers to any increase in price brought on by increased labor costs, i.e., minimum wage requirement.

Did my 2+2 example have too much math for you? I was afraid that might happen.

It's called wage push inflation, not "minimum wage push inflation" you dumbass POS. You're confusing all labor costs with just those earning minimum wage. Quick question, how many of coca-cola's employees do you think earn minimum wage? the example I used assumed 10%, and I'm willing to bet my life that that is exponentially higher than the actual number.
wage push inflation is a subset of "cost push inflation" and is used to explain everything from the effect of higher oil prices to raw material price increases. Milton Friedman, a man whose smarts infinitely out-weigh yours, proved that wage push inflation would be impossible without the effect of government quantitative easing. In other words, unless the government would print more money the increase in prices of one commodity would be offset by decreases in the price of other commodities.
You should really consider shutting the fuck up. You're making yourself look like a complete fucktard with every post.

[lustylad]

Originally Posted by WombRaider

Increasing minimum wage has NOTHING to do with inflation. Any economist will tell you that.

Really? Any economist? How about the ones you linked us to in your post #56? They found that raising the MW pushes up prices at restaurants:

“In a series of studies over the last four years, Aaronson and French show that a 10 percent hike in the minimum wage increased restaurant prices on the whole by 0.7 percent, and prices at limited service establishments by 1.6 percent.”

That's from your own link, undercunt. You look really dumb contradicting your own link.

Originally Posted by WombRaider

Minimum wage earners are roughly numbered at a little under 4 million people. That's less than FIVE percent of the workforce you fucking moron. FIVE!

Your numbers don't add up, undercunt. The last time I peeked the US labor force was over 155 million. So four million MW workers would mean 2.6% of the labor force. Better check your data, huh? And if it's so tiny, why is it so important? Why so much hysteria on your part? Could it have something to do with my post #50 indicating the minimum wage is broadly linked to many other contract union labor rates throughout the economy?

Originally Posted by WombRaider

It's simple supply and demand, not inflation. More money in your hand creates more demand for goods, which in turn drives up the prices of those goods. Has nothing to do with inflation...

Lemme get this straight, you're saying rising prices have nothing to do with inflation?

(Cough, snicker, cough!) Please tell us, undercunt, just what is your definition of inflation then?

.

[lustylad]

Originally Posted by shanm

Milton Friedman, a man whose smarts infinitely out-weigh yours, proved that wage push inflation would be impossible without the effect of government quantitative easing.

Hey shammytard, I know you're trying to sound intelligent but.... Milton Friedman died in 2006 and the Federal Reserve didn't invent "quantitative easing" until 2009.

[WombRaider]

Originally Posted by lustylad

Really? Any economist? How about the ones you linked us to in your post #56? They found that raising the MW pushes up prices at restaurants:

“In a series of studies over the last four years, Aaronson and French show that a 10 percent hike in the minimum wage increased restaurant prices on the whole by 0.7 percent, and prices at limited service establishments by 1.6 percent.”

That's from your own link, undercunt. You look really dumb contradicting your own link.





Your numbers don't add up, undercunt. The last time I peeked the US labor force was over 155 million. So four million MW workers would mean 2.6% of the labor force. Better check your data, huh? And if it's so tiny, why is it so important? Why so much hysteria on your part? Could it have something to do with my post #50 indicating the minimum wage is broadly linked to many other contract union labor rates throughout the economy?




Lemme get this straight, you're saying rising prices have nothing to do with inflation?

(Cough, snicker, cough!) Please tell us, undercunt, just what is your definition of inflation then?

.

A whole percent. Holy shit, whatever will we do? Rising prices ARE inflation you idiot. I'm saying that the increase in prices can be attributed to supply and demand, not necessarily the increase in wages. As IB illustrated when he admitted that Coke kept the prices low for years, despite wage increases.

"75.3 million workers in the United States age 16 and over were paid at hourly rates, representing 59.0 percent of all wage and salary workers."

[lustylad]

Originally Posted by WombRaider

More money... drives up the prices of those goods. Has nothing to do with inflation...

Originally Posted by WombRaider

Rising prices ARE inflation you idiot...

You really need to quit now. You have amply demonstrated what a moron you are when it comes to economics. With every contradictory post, you only make yourself look stupider.

.

[scsholar]

With a company like this one with just 300 workers, the CEO can afford to do that since he gas skilled labor that are worthy of their salaries.

You couldn't do what many fast food workers want which is to strike and ask for $15 an hour which is beyond asinine.

As far as CEO pay, CEO's are at the forefront of being leaders, visionaries and setting the company agenda and having HR follow up from the neck down. CEO's often don't make it past 5-7 years so there pay should be high.

What I don't and possibly will never understand is the person working for minimum wage as an adult. I can understand certain circumstances but the minimum wage was never designed to live off of it no matter what the wage.

[shanm]

Originally Posted by lustylad

Hey shammytard, I know you're trying to sound intelligent but.... Milton Friedman died in 2006 and the Federal Reserve didn't invent "quantitative easing" until 2009.

Really Lusty? You are dumb as shit. Here:

Some economists and commentators have argued that the US Federal Reserve used a form of quantitative easing in the 1930s and 1940s to fight the Great Depression
http://en.wikipedia.org/wiki/Quantitative_easing

Even an idiot with the least bit of an idea would have known what I meant by quanititative easing in that context. I even explained it in the very next fucking sentence

Originally Posted by shanm

In other words, unless the government would print more money the increase in prices of one commodity would be offset by decreases in the price of other commodities.
.

Just because you looked up when someone died on wikipedia does not give you the right to act like a smart ass. Friedman's work was related to arguing against the Phillip's curve. You can look it up if you have anything better to do than look for nooks and crannies in someone's argument.

[WombRaider]

Originally Posted by lustylad

You really need to quit now. You have amply demonstrated what a moron you are when it comes to economics. With every contradictory post, you only make yourself look stupider.

.

I'll quit when I'm goddamn good and ready and not a second sooner. This isn't the Iran thread. You can suck my fucking dick. You have amply demonstrated yourself to be a cunt. Cunts get fucked.

I wasn't referring to inflation in the same context he was using it in. You two are the ones who would get laughed out of the room if you actually talked to real economists.

[WombRaider]

Originally Posted by lustylad

Hey shammytard, I know you're trying to sound intelligent but.... Milton Friedman died in 2006 and the Federal Reserve didn't invent "quantitative easing" until 2009.

How does him dying in 2006 preclude them from using quantitative easing three years later? I could see if they used it three years BEFORE he was born, but this is after the man died. Your point makes no sense.

You're also getting hung up on the name. The central bank buying back assets from commercial banks didn't happen for the first time ever in 2009. It may have been called something else, but it was the same thing. It was called monetary policy.

[shanm]

Originally Posted by WombRaider

I'll quit when I'm goddamn good and ready and not a second sooner. This isn't the Iran thread. You can suck my fucking dick. You have amply demonstrated yourself to be a cunt. Cunts get fucked.

I wasn't referring to inflation in the same context he was using it in. You two are the ones who would get laughed out of the room if you actually talked to real economists.

Exactly, this fool has no clue what the fuck he is talking about. He is hard at work hacking away on google so that he can croon his petty ego by posting irrelevant, inane shit on this board.

Anyone who uses the term "simple economics" should have heard of Milton Friedman. His entire life is dedicated to anti-keynes theorys. You do know what Keynesian economics is, right LustyMoron? It advocates the entire subject of government intervention in fiscal and monetary policy. If you were a republican worth your salt you would be licking Friedman's shoes. Instead you had to go look at his wikipedia article to see when the fuck he died to prove who-the-fuck-knows-what.
Its amateur hour out here. Don't know why I expected better from a couple of morons on a hooker board.

[shanm]

Originally Posted by lustylad

Hey shammytard, I know you're trying to sound intelligent but.... Milton Friedman died in 2006 and the Federal Reserve didn't invent "quantitative easing" until 2009.

Here I even did some "research" for you. Apparently you missed this on his wikipedia page. It's right there in the first few paragraphs
http://en.wikipedia.org/wiki/Milton_Friedman

His monetary theory influenced the Federal Reserve's response to the global financial crisis of 2007–08. Edward Nelson, the assistant director of the board of governors of the Federal Reserve System, argues, "in important respects, the overall monetary and financial policy response to the crisis can be viewed as Friedman’s monetary economics in practice."

Please teach us some more "economics" professor.

[I B Hankering]

Originally Posted by scsholar

With a company like this one with just 300 workers, the CEO can afford to do that since he gas skilled labor that are worthy of their salaries.

You couldn't do what many fast food workers want which is to strike and ask for $15 an hour which is beyond asinine.

As far as CEO pay, CEO's are at the forefront of being leaders, visionaries and setting the company agenda and having HR follow up from the neck down. CEO's often don't make it past 5-7 years so there pay should be high.

What I don't and possibly will never understand is the person working for minimum wage as an adult. I can understand certain circumstances but the minimum wage was never designed to live off of it no matter what the wage.

+1

Originally Posted by WombRaider

Do you have a goddamn answer? The fact that you admit Coke was able to keep the price low, despite wages rising in the meantime, shows you're full of shit when you say it ALWAYS correlates to an increase in price. It doesn't. Not always.

And you still haven't admitted that minimum wage earners make up less than 5 percent of the workforce.

It was the mitigating factors of technology and marketing innovation that kept prices low in spite of money spent on wages for labor, and, despite your feeble and pathetic attempt at deflection, it was the cost of labor that eventually forced Coke to increase its price, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas.

Originally Posted by WombRaider

The entire thing is predicated on keeping profits high. God forbid you don't get to buy that third car.

Why are you so pathetically jealous of people who can own a Bentley and a Benz, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas? Aren't you happy with your Kia, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas?

Originally Posted by shanm

Did my 2+2 example have too much math for you? I was afraid that might happen.

It's called wage push inflation, not "minimum wage push inflation" you dumbass POS. You're confusing all labor costs with just those earning minimum wage. Quick question, how many of coca-cola's employees do you think earn minimum wage? the example I used assumed 10%, and I'm willing to bet my life that that is exponentially higher than the actual number.
wage push inflation is a subset of "cost push inflation" and is used to explain everything from the effect of higher oil prices to raw material price increases. Milton Friedman, a man whose smarts infinitely out-weigh yours, proved that wage push inflation would be impossible without the effect of government quantitative easing. In other words, unless the government would print more money the increase in prices of one commodity would be offset by decreases in the price of other commodities.
You should really consider shutting the fuck up. You're making yourself look like a complete fucktard with every post.

And mandatory minimum wage is one of the factors that contributes to "Wage Push Inflation", shamman, and you'd be the dumb-ass POS that's stupidly arguing that it isn't.

'Wage Push Inflation'
Wage push inflation is an inflationary spiral that occurs when wages are increased and business must, in order to pay the higher wages, charge more for their products and/or services. The wage increase, then, is not as helpful to employees since the cost of goods has also risen.

Read more: http://www.investopedia.com/terms/w/wage-push-inflation.asp

Notice how the explanation says "Wage push inflation is an inflationary spiral that occurs when wages are increased", shamman, and NOT "Wage push inflation is an inflationary spiral that occurs when wages are increased (except for wage increases due to a mandatory minimum wage increase)", shamman.

[WombRaider]

Originally Posted by I B Hankering

+1




It was the mitigating factors of technology and marketing innovation that kept prices low in spite of money spent on wages for labor, and, despite your feeble and pathetic attempt at deflection, it was the cost of labor that eventually forced Coke to increase its price, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas.



Why are you so pathetically jealous of people who can own a Bentley and a Benz, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas? Aren't you happy with your Kia, you "#Grubered", freelance faggot, Odumbo Minion from Arkansas?



And mandatory minimum wage is one of the factors that contributes to "Wage Push Inflation", shamman, and you'd be the dumb-ass POS that's stupidly arguing that it isn't.



Notice how the explanation says "Wage push inflation is an inflationary spiral that occurs when wages are increased", shamman, and NOT "Wage push inflation is an inflationary spiral that occurs when wages are increased (except for wage increases due to a mandatory minimum wage increase)", shamman.

wages, not minimum wage, you insolent cow. Jane, you ignorant slut, get your head out of your ass. You think that an increase in minimum wage is going to push up the price of that Bentley? Get fucking real. You yourself just admitted that it doesn't always cause inflation.

[WombRaider]

Originally Posted by scsholar

With a company like this one with just 300 workers, the CEO can afford to do that since he gas skilled labor that are worthy of their salaries.

You couldn't do what many fast food workers want which is to strike and ask for $15 an hour which is beyond asinine.

As far as CEO pay, CEO's are at the forefront of being leaders, visionaries and setting the company agenda and having HR follow up from the neck down. CEO's often don't make it past 5-7 years so there pay should be high.

What I don't and possibly will never understand is the person working for minimum wage as an adult. I can understand certain circumstances but the minimum wage was never designed to live off of it no matter what the wage.

To take someone seriously when they talk about economic theory, they've got to know the difference between their and there. You went one for one. I guess that's something. Should CEOs make 300 times there base-pay employee? Where does it say that? We are a service-oriented economy. Perhaps people SHOULD be able to live off their wages, minimum or otherwise. Where are these high-paying jobs?