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Comment: Re:Stupid reasoning. (Score 1) 1072

by unitron (#49734651) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

> Is it really that hard to grasp that concept?

And then with more people with more money, businesses respond by raising prices until $15 no longer has the buying power it used to.

Why'd you stop your analysis half way?

Because these businesses have no competition that will underprice them by a bit and take all their customers?

You can tinker a little with the law of supply and demand, like this would, but you can't repeal it altogether.

To be fair, eventually that $15 won't have the same buying power, just as the $1.60 per hour 1968 Federal Minimum Wage no longer has the buying power it did back then (4 to 5 gallons of gas or packs of cigarettes, or 16 soft drinks or candy bars, or 10 comic books, or 2 paperback books, or a fast food meal for 2, or movie tickets for 2, etc.)

But that's eventually, not instantaneously, and in the meantime, it can do some good and stimulate local economies.

Comment: Re:Long Term / Sort Term (Score 1) 1072

by unitron (#49734625) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

Everybody posting comments on this article is required to add either the words "... in the long term", or "... in the short term".

If either of these phrases is omitted, the comment will be modded down.

You have been warned.

Wasn't it an economist who said something like "In the long term, we're all dead."?

Comment: Re:Minimum Wage (Score 1) 1072

by unitron (#49733249) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

There's a comic book store up there, or maybe it's in San Francisco, that's complaining, but another way of looking at it is that there are actually too many comic book stores in the area for the demand and that the workers have been subsidizing the customers before now.

I'm not saying the store owner might not have an actual problem, but apparently he's not anticipating any increase in demand for his merchandise despite more people in the community having more money available to spend.

Comment: Re:Minimum Wage (Score 1) 1072

by unitron (#49733229) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

If your store is easier for someone to get to than is Wal-Mart or the like, or they like the service better than waiting half an hour for an "associate" to happen by, maybe with that extra per hour in their pockets some of these people will decide it's worth it to go to your place instead and spend the time saved with the family they see so little of because of working all the time.

People on the low end of the pay scales who get extra money spend it, which boosts the local economy, which means more jobs as more staff are hired to handle the increased business, which means even more spending which boosts the local economy which means more jobs....

It's why massive borrowing at near zero interest rates to spend on massive amounts of infrastructure repair and creation would actually be a good idea, because more people would have paychecks to spend locally.

Comment: Re:This sucks for Seattle! (Score 1) 86

Comcast previously promised the city they would provide service for their entire monopoly area if this went through...

Telecom companies are famous for *making* promises.

Making good on them, not so much.

They'd have probably gotten around to your area about the same time as your first Social Security check.

Comment: Re:Well... (Score 1) 86

Wheeler, 69, does not need to seek another job when he departs the FCC, and that freedom enables him to make the decisions he thinks is right, according to people close to the chairman.

Judging simply from his age, it's very implausible that his actions were part of a ploy to seek secure employment after the FCC.

He won't be too old to sit on some corporate Boards of Directors.

The Universe is populated by stable things. -- Richard Dawkins

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