Thanks To 'Fight For $15' Minimum Wage, McDonald's Unveils Job-Replacing Self-Service Kiosks

[UncleBuck]

Also, I gotta vote Justin as having the most childish signature on the forum this week. Flaming Pie has the dumbest sig, but Justin's is the most childish.

Pleas continue with this regularly scheduled program.

i just updated mine.

 

[Rrog]

Pence seems tense. Any reason for a tense Pence?

 

[Fogdog]

Pence seems tense. Any reason for a tense Pence?

I didn't see it. Maybe Pence past tense?

 

[Rrog]

Pence was past tense tense? That makes sense

 

[twostrokenut]

isn't your argument basically "why don't we raise minimum wage to $100 an hour then??!!???" ?

meanwhile, my argument is that we should raise it to at least $12 an hour, indexed to inflation.

here is where you posit that inflation is just a jewish conspiracy.

Why would jews conspire to create inflation? thats just stupid.

Deflation is worse.

Lesser of two evils...its the new norm. Fuck.

 

[twostrokenut]

More demand means a higher price can be asked for and gotten, especially with a product or service that is had to find or is diminishing, Beach front properties, Gold, Opals, Oil etc or controlled release like diamonds. This is how scalpers make money at major sporting and music events. Supply is low and demand is high so therefore they sell tickets at a inflated price.
Lots of things contribute to inflation. Supply and demand is one of them.

Copy and pasted."
www.economicshelp.org › ... › Economic Essays on Inflation
Causes of inflation. Inflation means there is a sustained increase in the price level. The main causes of inflation are either excess aggregate demand (economic growth too fast) or cost push factors (supply side factors)."

And yes a min can just "be". It should automatically be adjustered every 2 to 3 years. Kind of like going from manually switching ur grow lights on and off to using a timer.

You are confusing demand with inflation. New currency in supply chasing same goods and services as before is inflation.

Scalpers raising prices for tickets is not inflation. It's demand.

 

[UncleBuck]

Why would jews conspire to create inflation? thats just stupid.

according to your hero and savior rawn pawl (who always tell the truth and never mudslings), jews secretly control the federal reserve, which is responsible for maintaining inflation.

a jew hater like you knows this and is just playing dumb in a desperate attempt to gain acceptance. SAD

 

[Fogdog]

You are confusing demand with inflation. New currency in supply chasing same goods and services as before is inflation.

Scalpers raising prices for tickets is not inflation. It's demand.

Man, it's really painful seeing a below average person act as though he's super smart. Dude, this isn't even a difficult subject. There are three paths to inflation, not one.

Demand-pull, where supply doesn't meet an increased demand and price goes up. In Silicon Valley, mid career engineers are increasingly in demand and the supply is short. So, they command a higher wage even if their work does not necessarily create more value than an engineer in North Fucking Carolina.
Cost driven, where demand stays the same and supply decreases. For example the supply of something is constrained by a disaster which cause decrease in supply of a commodity. This happened recently when an oil pipeline failed and oil to the North East had to be delivered by other means. Droughts can do this to the food supply.
Expansion of money supply, either by printing too much money or making very low cost loans to banks who then pass the money on to consumers, home owners and the like in the form of debt. Increasing dollars chasing the same commodity increases prices.

In your example, tickets for a specific game can be inflated in price because a given game became more important and fans suddenly decide they want tickets that are no longer available on the open market. You are mistaken in saying that this is not inflation. It may be temporary but it is demand-pull inflation.

 

[Fogdog]

True but GE makes most of the engine parts overseas. Much cheaper wage. The only parts we make are worth over $50k. And now we are in additive manufacturing. No machining. It's play doh molded, baked and becomes metal. Then laser sintering additive as well as eb weld additive we do. Most going overseas. Only parts hard to ship are made here.

Maybe 3D printing will bring some of the components manufacturing back? No point in ordering offshore and stocking an item if it can be made on demand locally when needed.

 

[dandyrandy]

Maybe 3D printing will bring some of the components manufacturing back? No point in ordering offshore and stocking an item if it can be made on demand locally when needed.

3d metal printing is a very precise technology. Without getting into proprietary stuff They are now able to target a micron size piece of special metal and fire a laser or if run in an eb welders an electron beam and melt it as it lands on the bed. Some laser types use a bed of special metal powder and create a part. Look on utoob for 3d printed jet engine. It was made by some guys I know. It runs. That is just a toy. The real thing is being made as we speak. I see parts with very little machining needed. No foundry. Lot's of interesting stuff out there but I'm getting a bit long in the tooth. I'll let the youngsters have it. Train on some fanuc controls, Siemens, and others and there are very good paying jobs out there. Some of the more interesting processes to make parts are using a proprietary material like play doh and injection molding it into a mold at 300 degrees. When it is processed a certain way it hardens and becomes metal. Then you can heat treat it at 2200 degrees and you have a part ready to do very little machining on. Can't say how. They wouldn't appreciate it. I expect the future to ramp up somewhat exponentially technologically speaking. And I'm going backward. Time to slow down. I see these youngsters about getting run over by a fork lift every day. They know nothing about the factory they are just bean counters. Walking around texting each other the status of parts. I'll just ride into the sunset. The last 5 years my knee and back pain had been bad. I don't take meds but about 4 years ago I came here. Now no pain. I really appreciate all I have learned here.

 

[Rrog]

Very interesting Randy

 

[dandyrandy]

Maybe 3D printing will bring some of the components manufacturing back? No point in ordering offshore and stocking an item if it can be made on demand locally when needed.

And it takes a while to print a part. I have learned companies will move a job for an amazingly small price savings. In my factory our metals are the most expensive cost in a part besides machine time. Labor is around 20%. In China labor is much cheaper, they have the same machines, and no overtime. Our shop cost is around $190 an hour on a typical machine tool such as a Nigatta. Say it takes 3 days to do the machining and the part sells for $120k. In China or Turkey shop cost is less than $45. An hour. In Turkey they have motes and concertina wire up. I have a friend that went over there in the 80's to help start the place up. They have the latest machines. What can you say? It's global competition.

 

[GroErr]

As pointed out in other posts, automation is doing a lot of the work that was previously done by a lower educated working class. This process is inexorable in that automation has real benefits to industrialists and consumers in the form of higher quality, predictable operations and lower cost of management. Sometimes automation ends up costing more but usually there is a cost benefit too. What I'm wondering is what do people do when the jobs that they used to do go away?

Right now the answer is leave the work force if one is able to retire or accept jobs in the service sector, which is growing and labor intensive but doesn't really add much value or require a lot of skill and so doesn't pay well. What about the future work force currently in K-12?

I've spent time with my kids on their homework and the curriculum is pretty good. The problem is that too many kids aren't working at learning the curriculum. By the time they graduate, they aren't ready for the kind of education you talk about. What I don't understand is why we think that a kid who is reluctant to learn the curriculum in high school will suddenly become a model student in college? And so, rather than pour massive resources into growing the college system to accommodate the entire population of young adults age 18-22, I'd put more resources into K-12 as well as addressing the divide between teachers and parents to try to find ways to motivate the youngsters. Sure, fund college to reduce or eliminate the debt load on those that earn their right to go to college but my guess is that only about 30% of the 18 year old population is really going to benefit from this investment in terms of greater life skills whether or not it pays off the investment monetarily.

Agree that philosophically, when a student applies him or herself to studies that they like, they benefit regardless of future earnings. But they do need to go into society and make a living. How many knowledge workers can this economy use? How many people are fit to fill those shoes. Again, what happens to people who aren't super sharp and wouldn't make a good programmer or product designer or doctor? Maybe I'm wrong and a 4 or maybe 6 year college education for all means that we will have a new economy work force filled with entrepreneurs and everybody will be rich. Is this what you think should be our goal?

Countries like Germany and Japan have a different education system that early on sorts kids according to their aptitude in school. They have apprenticeship programs that prepare kids for work after high school and they also have an excellent record of producing knowledge workers. There are other models to look at than just extending K-12 to K-16.

The jobs going away thing has happened, people retrain or move on in another industry. Investment in the right technology can give them an edge in many ways like speed to market, lower cost for commodities, new capabilities and such.

That's a good point, the future work force even with education is a tough issue wherever you are. Even with a degree, good jobs are scarce outside of a few industries. You mentioned Germany's system, they have it down, their apprenticeship program is a great model.

Kids are influenced by the environment around them, actions more than words so if they're in environment that fosters learning there's a better chance. That said, I'm a perfect example of a high school drop out that went back later. High school was just a party for me. My son was quite the same (karma's a bitch) but eventually went back, daughter zipped through and became a teacher. No perfect answer or system for bringing kids up, it's half the fun, once they're grown and on their own - lol

Who knows how things will pan out, many things have changed in the past 100 years and systems/economies have adjusted. Pretty sure we'll figure things out. Some good points to ponder on how society will adapt though.

 

[dandyrandy]

 

[Justin-case]

Wow, that's really cool ! The possibilities seem endless. I saw news clip awhile ago on a boy that received a 3-D printed prosthetic hand. It was a very simple design, with the fingers forming a grip with the curling motion of his wrist. I think the cost was 20$ to print
With plastic.

My step dad has been working for micron plumbing additions on their computer chip labs.He said among their basic plumbing needs they also plumb double wall stainless steel lines that carry different gases and vaporized metals to manufacture chips, cazy huh. It's mostly Chinese to me, but we do live in an amazing time of innovatoin.

 

[Lucky Luke]

You are confusing demand with inflation. New currency in supply chasing same goods and services as before is inflation.

Scalpers raising prices for tickets is not inflation. It's demand.

If something is in demand but their is an abundance of it then prices may in fact fall or stay steady. Demand that outstrips supply causes inflation in price. Like buying pot when the town is dry.

It really is grade 9 or 10 school economics.

 

[Lucky Luke]

Its not just uneducated/skilled jobs that are going in the modern times.

Passenger jets used to have an engineer on board as well as two pilots. Bank tellers have been replaced by hole in the walls. Im sure there are lots more examples,

 

[ttystikk]

Can it print the rest of an F-16, too? lol

 

[twostrokenut]

Man, it's really painful seeing a below average person act as though he's super smart. Dude, this isn't even a difficult subject. There are three paths to inflation, not one.

Demand-pull, where supply doesn't meet an increased demand and price goes up. In Silicon Valley, mid career engineers are increasingly in demand and the supply is short. So, they command a higher wage even if their work does not necessarily create more value than an engineer in North Fucking Carolina.
Cost driven, where demand stays the same and supply decreases. For example the supply of something is constrained by a disaster which cause decrease in supply of a commodity. This happened recently when an oil pipeline failed and oil to the North East had to be delivered by other means. Droughts can do this to the food supply.
Expansion of money supply, either by printing too much money or making very low cost loans to banks who then pass the money on to consumers, home owners and the like in the form of debt. Increasing dollars chasing the same commodity increases prices.

In your example, tickets for a specific game can be inflated in price because a given game became more important and fans suddenly decide they want tickets that are no longer available on the open market. You are mistaken in saying that this is not inflation. It may be temporary but it is demand-pull inflation.

Inflation is rising prices and devalued currency simultaneously. And operator, not or operator....both sides must be true, not just one side. A price increase is not inflation.

Inflation and deflation are of supplies. You can't inflate an indicator.
You can change an indicator by changing a supply or demand.
Your oil light in your Pinto that you drive does not actually add or remove oil from your Pinto.

In your precious example above, you described supply and demand price increases with fixed supply of currency.

Then accurately described inflation....except with consumer bank loans...they don't really devalue currency unless they default. Theory is as long as they're repaid they're creating goods and services and balance expansion.

 

[Justin-case]

Inflation is rising prices and devalued currency simultaneously. And operator, not or operator....both sides must be true, not just one side. A price increase is not inflation.

Inflation and deflation are of supplies. You can't inflate an indicator.
You can change an indicator by changing a supply or demand.
Your oil light in your Pinto that you drive does not actually add or remove oil from your Pinto.

In your precious example above, you described supply and demand price increases with fixed supply of currency.

Then accurately described inflation....except with consumer bank loans...they don't really devalue currency unless they default. Theory is as long as they're repaid they're creating goods and services and balance expansion.

No more trailernomics, please......