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  • Originally posted by Uncle Ted View Post
    The dem voters may not remember all those policies that he promoted with the exception of one... and the fact that no democrat voted for it. How many folks work at Walmart again?

    But trickle down economics don't work...
    "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

    Comment


    • Originally posted by Moliere View Post
      But trickle down economics don't work...
      It's all that money they were able to save by closing down 63 Sam's Club stores.

      Comment


      • Originally posted by bluegoose View Post
        It's all that money they were able to save by closing down 63 Sam's Club stores.
        You don't save money by closing down stores unless those stores are already losing money or aren't providing a decent enough return.

        My response was flippant. Trickle down works but not in the way people want it to work. These workers are probably ecstatic about a $2/hour raise, which is a 20% raise. However, the reality is that if you look at their earnings increase relative to management or those that participate in equity plans, it's probably more of a relative decrease in spending power. That's why I laugh when everyone looks at their growing 401k as if they are getting more rich, when in fact, unless they have more than the average person in their 401k, they are actually losing money/spending power on a relative basis.
        "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

        Comment


        • Originally posted by Uncle Ted View Post
          The dem voters may not remember all those policies that he promoted with the exception of one... and the fact that no democrat voted for it. How many folks work at Walmart again?




          Walmart is laying off a bunch of people, closing stores, automating more of their cashiers, eliminated a lot of management but they raised their hiring wage by a dollar!

          Comment


          • Originally posted by frank ryan View Post
            Walmart is laying off a bunch of people, closing stores, automating more of their cashiers, eliminated a lot of management but they raised their hiring wage by a dollar!
            Closing unprofitable stores and automating processes are not bad things, neither is eliminating needless management.
            "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

            Comment


            • Originally posted by frank ryan View Post
              Walmart is laying off a bunch of people, closing stores, automating more of their cashiers, eliminated a lot of management but they raised their hiring wage by a dollar!
              It is nice to see you showing such great nuance in your views of the economy. Or even of Walmart itself.
              PLesa excuse the tpyos.

              Comment


              • Originally posted by frank ryan View Post
                Walmart is laying off a bunch of people, closing stores, automating more of their cashiers, eliminated a lot of management but they raised their hiring wage by a dollar!
                I, for one, welcome our new robot overlords! I love the robot cashiers and use them all the time. Those robots don't make small talk which I like. I just like to pay for my crap and go.

                Originally posted by Moliere View Post
                Closing unprofitable stores and automating processes are not bad things, neither is eliminating needless management.
                Looks like Texas is only closing three sam's clubs... all in H-Town. Of course, since they opened that new Costco just up the street from me I don't go to Sammy's much any more so maybe they will close that one as well.
                "If there is one thing I am, it's always right." -Ted Nugent.
                "I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
                "Yet I still see wisdom in that which Uncle Ted posts." -creek.
                GIVE 'EM HELL, BRIGHAM!

                Comment


                • Originally posted by Moliere View Post
                  That's why I laugh when everyone looks at their growing 401k as if they are getting more rich, when in fact, unless they have more than the average person in their 401k, they are actually losing money/spending power on a relative basis.
                  Help me understand this. This would seem to imply that the economy is a zero sum game, which is most certainly not true. What am I missing?
                  "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
                  "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
                  "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

                  Comment


                  • Originally posted by creekster View Post
                    It is nice to see you showing such great nuance in your views of the economy. Or even of Walmart itself.
                    creek this is a stupid post, just a heads up. frank’s post does not speak to the general economic or business wisdom of the move, but is an indictment of the narrative that wm is suddenly labor-friendly. you sure are quick to jump down his throat.
                    Te Occidere Possunt Sed Te Edere Non Possunt Nefas Est.

                    Comment


                    • Originally posted by Jeff Lebowski View Post
                      Help me understand this. This would seem to imply that the economy is a zero sum game, which is most certainly not true. What am I missing?
                      I'm being too simple with it, but if your wages go up $1 and mine go up $2, then I have more buying power relative to you. You are happy, until you find out that the same thing we want to buy just increased in price by $1.25, so while I end up ultimately happy, you actually end up with less buying power even though you are paid more. Like you mention, it's not a zero sum game so my comment is overly simplistic, but over the long run I think it would hold true, especially as costs creep up due to the increased wages. If prices stay constant, then all benefit, but that's rarely the case, especially for normal and luxury goods.

                      I'm not saying the increased wages aren't good, they definitely are, but they'd be even better in times when the economy isn't humming along so nicely.
                      "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

                      Comment


                      • Originally posted by Moliere View Post
                        I'm being too simple with it, but if your wages go up $1 and mine go up $2, then I have more buying power relative to you. You are happy, until you find out that the same thing we want to buy just increased in price by $1.25, so while I end up ultimately happy, you actually end up with less buying power even though you are paid more. Like you mention, it's not a zero sum game so my comment is overly simplistic, but over the long run I think it would hold true, especially as costs creep up due to the increased wages. If prices stay constant, then all benefit, but that's rarely the case, especially for normal and luxury goods.
                        Therefore, shouldn't the metric for your 401K be whether or not it is beating inflation? How much money you have relative to other people has nothing to do with the buying power of your money, right? Everybody can have more buying power over time with a growing economy.

                        Back to your original statement, if someone has the average amount of money in a 401K, it is not likely very much. I was curious about this so I looked it up. It varies a little by year, but not much.

                        Average 401k balance = ~$100K

                        But get this, the median is much worse:

                        Media 401K balance = ~$26-30K

                        Yikes!

                        http://time.com/money/4357248/retire...guard-balance/
                        "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
                        "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
                        "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

                        Comment


                        • Originally posted by old_gregg View Post
                          creek this is a stupid post, just a heads up. frank’s post does not speak to the general economic or business wisdom of the move, but is an indictment of the narrative that wm is suddenly labor-friendly. you sure are quick to jump down his throat.
                          You are giving me a heads up that this is a stupid post? Your magnanimity knows few bounds.

                          The narrative began at the macro level and ended at the WM example. Sorry if my posting doesn't met your or others' standards for intelligence, but you've already announced that I am not smart so I just have to try the best I can. Buddy.
                          PLesa excuse the tpyos.

                          Comment


                          • Originally posted by Moliere View Post
                            I'm being too simple with it, but if your wages go up $1 and mine go up $2, then I have more buying power relative to you. You are happy, until you find out that the same thing we want to buy just increased in price by $1.25, so while I end up ultimately happy, you actually end up with less buying power even though you are paid more. Like you mention, it's not a zero sum game so my comment is overly simplistic, but over the long run I think it would hold true, especially as costs creep up due to the increased wages. If prices stay constant, then all benefit, but that's rarely the case, especially for normal and luxury goods.

                            I'm not saying the increased wages aren't good, they definitely are, but they'd be even better in times when the economy isn't humming along so nicely.
                            SO Walmart does its part by both giving bonuses and firing people?
                            PLesa excuse the tpyos.

                            Comment


                            • Originally posted by creekster View Post
                              It is nice to see you showing such great nuance in your views of the economy. Or even of Walmart itself.
                              Originally posted by creekster View Post
                              You are giving me a heads up that this is a stupid post? Your magnanimity knows few bounds.

                              The narrative began at the macro level and ended at the WM example. Sorry if my posting doesn't met your or others' standards for intelligence, but you've already announced that I am not smart so I just have to try the best I can. Buddy.
                              yowza, creek. you don’t get to be an acerbic asshole and also be the victim. in your eagerness to be a dick to frank, you missed the boat. truly do not understand why you don’t occupy your time with something other than condescending to the level of us lowly folk when it makes you so unpleasant all the time.
                              Te Occidere Possunt Sed Te Edere Non Possunt Nefas Est.

                              Comment


                              • Originally posted by Jeff Lebowski View Post
                                Therefore, shouldn't the metric for your 401K be whether or not it is beating inflation? How much money you have relative to other people has nothing to do with the buying power of your money, right? Everybody can have more buying power over time with a growing economy.

                                Back to your original statement, if someone has the average amount of money in a 401K, it is not likely very much. I was curious about this so I looked it up. It varies a little by year, but not much.

                                Average 401k balance = ~$100K

                                But get this, the median is much worse:

                                Media 401K balance = ~$26-30K

                                Yikes!

                                http://time.com/money/4357248/retire...guard-balance/
                                If you are simply beating inflation, then you probably won't be retiring any time soon. But I guess my point is that you and I are killing it off of this economy since we have 401K balances that are growing. We'll both have great retirements and even good lives prior to retirement because we both have brokerage accounts. I'm doing really well because part of my pay is in stock adn my company's stock is doing well. People getting a $1k bonus and $1/hour pay raise are happy, but the divide will continue to grow between those that have savings/investments and those that live paycheck to paycheck. I guess they can afford to upsize their McDonald's meal now, which is great, but I'll be flying to Europe and taking cruises.

                                And yikes! at those 401k balances. It's sad that some people have so little will power when it comes to saving. I konw people that are cashing out their retirement to pay for their kids' bad deeds/choices. Heck, my inlaws are still funding five of their children in some form or fashion, and they are all grown, married, and graduated from college.
                                "Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. Uchtdorf

                                Comment

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