With the economy struggling the way it is, the ability to get a job has increased significantly. However the federal and state minimum wage standards are too high for employers to give the unemployed a chance to work. Cutbacks on company expenses, delays hirings and unemployment rates rise. In California, which is where I live, the unemployment is nearin 6% and the number of homeless people is very high as well which they are not put in that percentage. True free markets should let corporations at least hire cheap labor, even 4-5$ an hour to get people working and to keep people moving. The minimum wage requirements just keep people out of work and keep companies from hiring more people. It also inevitable raises inflation rates, as money becomes flushed to a select group of working people, who are buying, and who can afford inflated prices because of the inflated wages they are receiveing. If a person can't live on 4.00$ an hour he/she can apply somewhere else, but in the mean time it is better than no work, and it would increase expense awareness for workers, and people would not be so willing to buy a 2.50$ coffee, or other overpriced amenities. Minimum wages need to be lowered, to open up the employment market and get people moving again. The economy is in shambles because of the current job market, which had inflated wages and gave people the idea that they could afford things on paper with loans. 7.50$ as a minimum wage is ridiculous for some states. Recession seems to be on its way, we need people working more and spending more on things they NEED, not WANT, so imaginary equity they used to get loans does come back to bite them. People in this country need to brighten up on what there spending there money on, the corporate geniuses used aggressive marketing skills to get the middle-class and poorer peoples money and now they are working month-to-month to pay it off, and working more to buy more, let it be what it be, but Americans simply buy too much shit. I should have never had such high expectations for people when it comes to decision making, because it seems if Americans want something and can afford it (by afford it I mean they can be alloted a loan for it, so it can be eventually paid off) its theirs. There is no more concept of saving anymore for people, or at least just buying what they need. Haha, Silly people, working themselves to death over meaningless materials that they think will change their lives in some dramatic way. Lets brighten up America.
are you guys kidding me with this post? What the hell does this have to do w/ BX and what makes it a good investment or not a good investment for your portfolio, or what makes it a good long or short candidate.
Buddy...doomsday or whatever your name is...i got news for you, you are posting this message on a Blackstone message board...if you really feel this way about capitalism and material things then why are you even trolling a message board for stocks? Could it be perhaps that you yourself engage in the capitalistic action of investing?
I agree with a previous poster...you probably live in your mom's beach home in santa barbara...either that or you are a dude who never made money yourself and are just bitter. Not all rich people are scum...in fact the richest people on earth happen to be the largest givers of charity to this world (bill gates comes to mind).
Too many people wax poetic on all of these major issues and the bottom line is...you just dont know enough to sound smart about it.
Would it be nice if this world didnt revolve around money? Yes, agreed it would be....but thats just not reality...and treehuggers like you are just pissed because maybe you are not smart enough or fast enough or motivated enough to go out and get yours. The truth is that while money isnt everything (health, family, friends, love come first and you cant buy any of those...well...with enough money you CAN buy better health and longer life span, but I digress), it sure does help you do the things that you want to do in your life that make you happy, whether its traveling, or opening up your own treehugger foundation to make people aware of the evils of money...
As Trent Reznor said in his latest album: "you're only mad because you wish you were in my position...don't nod your head because you know that im right!"
No kidding everyone knows that, but nobody does it because people put themselves into the position in which they can't just get up and go they have responsibilities and families, your life even perhaps, everyone wants to think theyre free though. Communism never work in its attempts. Governments arent perfect, but the currency factor can be fixed to full labor bartering. No money just labor for food/shelter.
I am a communist I believe in open borders
I believe that we should allow all the south americans into america, all the north africans into europe. I believe that humanity should face one destiny, instead of being segmented into "the rich" us and the "poor" them.
I believe that if you exclude materialism the entire capitalist paradigm will collapse onto itself.
Im a republican, believe in free markets, low taxes, border control, but when it comes to the corporations they just do theyre job to sell their service/product. People need to learn to do their own thing, which is best for them. No one says you have to live around materials but alot of people do, following the glamour of the media. They have to remember its all bullshit.
you are disgusting to even consider that the minimum wage is too high. What kind of sick man are you? Corporations are making record profits, and you want them to cut wages of average americans.
I hope the depression comes tomorrow, I hope you wake up to see trading halted on the exchanges, I hope you lose everything over night while you are sleeping.
Long live the people!
The poor in washington DC!
The forgotten in New Orleans!
Long live the masses!
Brighten up, wages are high and the corporations make adjustments as needed, to maintain their profits. They just higher fewer and let nobody get 40+ hours, You think they just let there profit margins slip when the min wages were raised or do you think they revaluated there expenses when it comes to employees? Cut benefits, etc. to just even it out. Get a clue.
do you know that one night in the hospital will change you $10,000 while average Joe only make $30,000 a year?
The USA is on the downhill, no way to recover.
CEOs make thousand times of $ comparing with their employees.
Globalization will kill all the middle class.
There is no free market. If yes, we need first wipe out 200 million people in the USA. People over 65 have no assets and can not make any contribution should be ... first.
I hope you are not a short. Capitalism has reached an extreme in exploitation it is time to stop it. Time to say to the inner greed. Time to tell the rich men we will not be bought. We will not be satiated with expensive cars and pretty women!
Agree 100%...I'm fortunate that a few years ago I decided to be completely debt free. Had a business that I hated but stuck with it until I paid off the house, both late model cars. credit cards and eliminated all debt. Went without any luxuries for some time except for an ocassional trip to the local casinos. I closed the business four years ago and just trade stocks for a living. I pay all the bills but the wife works for extra spending money(10.00 hr.)and to provide us with healthcare coverage, which is so vital because she has Chron's and each Remicade infusion, given quarterly is over $6,000. I am SO glad that I had the foresight to be debt free and live free. Like they say even a blind hog gets an acorn once in awhile. It's time for Americans to tighten their belts and concentrate on basics...food, clothing, shelter. What more do you truly need?