Economics: The Great Fascade

It's hard to imagine we live in a day where the government can rack up the amount of debt we have as a county, and, get away with it.  The main reason they can is that the majority of the American population is uneducated in basic economics. Throughout high school and for those who pursue a college education, theses courses are not required to take. Somehow i guess i can't quite understand how an art history class is required and these classes aren't. Imagine if in high school how much more your average graduate would be able to prepare with a basic personal finance class. I think, and note this is my personal opinion the quality of student would reap profound benefits from these classes. On a larger scale; the economy in terms of a macro sense is extremely complex. I  mean think of it in terms of yourself. If a person came up to you and asked your thoughts on Quantitative Easing and the effects it has had on the American market; what would your answer be? Or what would you say if somebody asked you about the effects of Hyper-inflation? (those two examples are seeming to go hand in hand). The sad reality is that most Americans probably wouldn't even have a clue what those things are. I'm giving you people food for thought. How much worse or better off would the economy be if we abolished the Federal Reserve? What does the Federal Reserve do? Who is the current chairman of the Fed and what kind of economic philosophy do they practice? These questions may seem petty but they are questions that every American should know. My personal opinion on the matter falls in line with those of the Paul family. Ron Paul believes it should be abolished. Rand believes it  should be audited. That leads to another question, When was the last time the Federal Reserve was audited? 2012 is the answer. But it wasn't really much of an audit. Before that? It never had been. What it did reveal? It revealed trillions of dollars in secret bank bailouts. http://www.nationofchange.org/first-federal-reserve-audit-reveals-trillions-secret-bailouts-1314633089. This link will start you on the journey on just what is taking place in your government. A lack in education though generally leads people to instantly blame the President of the United States. Fact is, they are as of late, becoming the puppet for Wall Street and the Fed. If you really want to put the blame on someone look up these names: Alan Greenspan and Ben Bernanke. Also to answer an earlier question Janet Yellen, the newest Fed Chariman runs along the same Keynesian theory as the her two predecessors. Basically what i'm saying is Education is the tool to save this country. The government gets what they want when there isn't an educated public. They can cook books, they can provide fake numbers and use VERY BIG EDUCATED TERMS THAT THE PUBLIC CAN'T UNDERSTAND. It's the perfect system to spend all the money you want and continue to hold stake on your cushy Congressional seat. So we need to make it a point to be educated that way we can sift through the things that our government thinks they can get away with.

Minimum Wage-It's the way it should be

I haven’t done this in a while so I figured I may as well put up a post that is relevant to the times. The point I’m going for is to relay to the public is that fast food workers DO NOT deserve 15 dollars an hour. When you think about the concept it seems like a great idea. Let’s give people a chance to make a living, off of a basic level job. We can eliminate the poverty we see in our country by simply paying employees a higher wage. Give people who are actually working a shot. Like I said it seems like a good concept in a theoretical design. However, the real question is it realistic? The unfortunate answer to that question is, no, there is not. I chalk this up to a lack of education on the fast food workers end. I am not saying it is their fault, but this is why the first step is education reform. That on the other hand, is an entirely different topic. So here is a little crash course on why this won’t work. When you raise the wages eventually everything else will raise as a result. This means it takes away the “ease” factor that most people enjoy about fast food. People like fast food because it is quick, easy, and affordable. I mean who doesn’t love having the option of a 1 dollar double cheeseburger? All of that disappears when you raise the wages. Maybe not so much the quick part but, the affordable part. Are people really going to want to pay 5 dollars for a Mcdouble? I know I won’t. So as a result, demand drastically decreases, while the money the company invests increases. Not a very good business model if you ask me. The next logical step that the company would take is to hire more employees and cut payroll hours. So yeah you may be making more hourly, but, the cut in hours will negate the hourly wage. Another thing that is imperative to look at is why this is brought up in the first place. The poverty line currently sits between 11-12 dollars an hour. So, due to lack of education, employees ask for wage increase to make it over the poverty line. Again, great in theory, now the reality. All increasing wages does is raise the poverty line. Instead of 11 dollars an hour being the poverty line, it is now replaced with, just to throw a random number out there, 19 dollars an hour. Also, as this happens inflation takes it course. Once that happens and your paying more for the price of your goods, it negates your raise. The last thing I intend to highlight with this is that these types of jobs are not meant to be a career. They are “stepping stones”. The jobs are intended for the younger years of your life. They are meant to give you experience at a young age and to help you get through college. My friend had told me what the Wal-Mart CEO had said. He said “ I want college students to work at my store so they can make more money to spend at my store”. It’s really as simple as that. This is what every single American needs to understand; if you are under the assumption that being a cashier at Wal-Mart is a career path, you are wrong. This is just a small portion of a much bigger issue. We need to educate the masses, and people need to understand that working a low-level job makes you highly dispensable. Which is why minimum wage is 8.50 an hour and should stay that way.