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Here It Comes: Obama Considering Executive Order To Raise Minimum Wage

Tyler Durden's picture




 

We thought that all perfectly idiotic headlines regarding the encroachment of central-planning would come from traditional banana republics as Venezuela, and of course France, such as the following:

  • MADURO SAYS VENEZUELA TO HAVE NEW FX SYSTEM
  • MADURO SAYS DOLLAR TO REMAIN AT 6.3 BS/DOLLAR IN 2014
  • MADURO CREATES AGENCY TO ENFORCE FAIR PRICES
  • MADURO SAYS LAW TO ALLOW MAX. 30% PROFIT MARGIN
  • NIGERIA TO SET UP FANNIE MAE-STYLE MORTGAGE FINANCE CO.
  • FRANCE PASSES LAW TO TAX WEALTHY AT 75%

And so on.

Boy were we wrong.

Moments ago The Hill reported that what many thought was absolutely impossible, may in fact become a reality: President Obama is considering issuing an executive order (#394,039,993,837?) to raise the minimum wage for Federal Workers... and in the process - with the help of that other central planner par excellence Bernyellen - lap all those other Banana republics that everyone so enjoys making fun of.

From the Hill:

President Obama is considering using his executive authority to raise the minimum wage for federal contractors, he told Senate Democrats during a closed meeting at the White House.

 

Lawmakers present at the Wednesday night session said Thursday that Obama did not bring up the matter himself, but appeared receptive to the idea when questioned on the topic. “The issue was raised,” Sen. Barbra Boxer (D-Calif.) said Thursday. “He said he was looking at it, as he looks at everything else.”

 

Sen. Bernie Sanders (I-Vt.), who was also in attendance, offered a similar account and said he has heard from members of the president’s staff that he is seriously considering executive action on the measure.

 

Obama and congressional Democrats are pushing for an across-the-board hike in the minimum hourly wage, from $7.25 to $10.10. But Republicans are cool to the plan, warning it could hurt the economy.

 

Federal contractors represent only a fraction of the nation’s employees. Businesses that together received more than $446 billion in federal contracts employ some 2 million workers, only some of whom are paid the minimum wage. Still, an increase for that segment of the workforce could generate momentum toward a raise for all workers now paid the lowest amount allowable by law.

 

An executive order to that effect would be tantamount to setting a minimum wage for federal contractors, they said. “Profitable corporations that receive lucrative contracts from the federal government should pay all of their workers a decent wage,” the lawmakers wrote. Obama in recent days has vowed to make 2014 "a year of action," even if it means relying heavily on administrative authority to pursue policy goals in lieu of congressional action.

Suddenly it all makes sense: in order to "fix" one idiotic act of central planning with unintended consequences, namely letting the Fed take over capital markets in order to preserve the oligarchic, kleptocratic system, pardon financial stability, and in the process make the uber-wealthy richer beyond their wildest dreams, while making the poor yearn for the days of the first Great Depression, the president will now one-up that act, and progress with even more "centrally-(un)planned", authoritarian acts which bypass Congress entirely, make a mockery of the republic, result in even more adverse unintended consequences, and practically assure that in the great race for the Banana Republic (or is that Banana Dictatorship?) endgame, the US has just overtaken everyone.

If only the Fed could now proceed to stop pretending things are getting better and promptly Taper the Taper, so as to push the superturbo printing button, it would at least assure that the great reset will come that much faster. At this point, it couldn't possibly come fast enough.

 

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Thu, 01/16/2014 - 19:54 | 4339363 phoolish
phoolish's picture

Interesting Times.

Thu, 01/16/2014 - 19:58 | 4339375 fonestar
fonestar's picture

Employment prospects have never been greater (for robotic kitchen helpers)!

Thu, 01/16/2014 - 20:03 | 4339400 Debtonation
Debtonation's picture

When will this madness end? I say go for it, let Obama take all the blame for anything that happens to the economy.

Thu, 01/16/2014 - 20:04 | 4339424 dryam
dryam's picture

I say do it, mother-fucker.  Then, we can see the huge drop in jobs as a result. 

Thu, 01/16/2014 - 20:09 | 4339435 knukles
knukles's picture

Aaaaaaaraghhhhhhhh!

That's a 39.31% Rise
Got Inflation, Anyone?

This is his transformation?


Thu, 01/16/2014 - 20:10 | 4339451 Skateboarder
Skateboarder's picture

Dude, we wanted 15 bucks remember. Only 3 bucks increase? What a cheap-o!

Thu, 01/16/2014 - 20:17 | 4339474 XitSam
XitSam's picture

Why not $100 an hour? Just think, with a stroke of the pen, Obama could eliminate poverty in America!

Thu, 01/16/2014 - 20:21 | 4339491 Keyser
Keyser's picture

Where is the guy on the grassy knoll when you really need him? 

 

Thu, 01/16/2014 - 20:25 | 4339504 Deo vindice
Deo vindice's picture

Executive order #394,039,993,837?

Inquiring minds want to know, "Did Executive orders start at #1?"

Thu, 01/16/2014 - 20:30 | 4339526 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

This man, the biological son of Frank M. Davis, is a clueless boob.

Thu, 01/16/2014 - 20:39 | 4339558 Manthong
Manthong's picture

Somebody needs to put a collar on that running-dog lackey of the bourgeoisie and imperialist oppressors.

Thu, 01/16/2014 - 20:41 | 4339566 knukles
knukles's picture

This, people is.....

        Cloward-Piven At Work

Thu, 01/16/2014 - 20:47 | 4339575 krispkritter
krispkritter's picture

O-Kenya realizes he's not up for re-election, right?  Yeah, this is just muddying the elections between Team A and Team A(holes). None of these dipshits read shit unless it's at the bottom of a check for re-election or on a lobbyist's knob. Wait until handout votes reach 60, 70, 80%...

Small biz is being crushed along with the job market for first timers, unskilled, and LIL(lateinlife) workers. Combine that with rising O'care costs, cuts in Medi/caid/care, pensions deficits leading to payout cuts, rising property taxes, crashing home values, and 'revamped' flood/homeowners insurance; you've got the perfect recipe for wiping out a significant portion of those looking for a job and those who thought looking for a job was the last thing they needed to do.  

The fucking Pols, the lobbyists, and the bank-related parasites need a good hanging. In public. Lessons with a price, become lessons seldom repeated...

Thu, 01/16/2014 - 21:04 | 4339622 Meat Hammer
Meat Hammer's picture

Mrs Meat and I have implemented plan Get the Fuck Off of the Grid and are doing everything we can to unplug from the matrix. Before, it was just plant a raised garden bed and enjoy the novelty of growing some veggies, but now it's full-fledged game-on.  It's an incredibly daunting task but I really don't see any other alternative.  We will do everything we can to not send one red cent to fund our country's demise.

Thu, 01/16/2014 - 21:34 | 4339727 flacon
flacon's picture

What happens to the parasite when it kills the host? Surely the parasite doesn't die. ... or does it?

Thu, 01/16/2014 - 22:22 | 4339835 mjcOH1
mjcOH1's picture

"Moments ago The Hill reported that what many thought was absolutely impossible, may in fact become a reality: President Obama is considering issuing an executive order (#394,039,993,837?) to raise the minimum wage for Federal Workers..."

 

Minimum wage Federal Workers'?!!!?  Shit...is he going mandate chicken teeth next?

How about a federal worker pay cut instead?

Thu, 01/16/2014 - 22:40 | 4339879 THX 1178
THX 1178's picture

"If only the Fed could now proceed to stop pretending things are getting better and promptly Taper the Taper, so as to push the superturbo printing button, it would at least assure that the great reset will come that much faster."

 

So the Tylers are firmly committed to the idea that a reset is coming? I had a hunch but never anything so clear. Good to know.

Fri, 01/17/2014 - 10:15 | 4340619 kralizec
kralizec's picture

The way the Giant Weeping Carrot talks...sounds like he'll counter with impeachment.

Yeah, I know...I had a relexive chuckle and "yeah, right!" blurt out too...

Thu, 01/16/2014 - 22:00 | 4339783 MontgomeryScott
MontgomeryScott's picture

@Meat:

I call it 'GRID-X'.

Naturally, there may be resistance from the masters, but just in case, I also play a game, called 'BLAMMO' (incorporating PPD's and printed pictures of people in funny costumes. Sometimes, just for fun, I spray-paint blue helmets on the pics, and sometimes, I paint dismembered triangles with single eyes [ref. 'All-Seeing Eye of Horus'] on their silly heads, looking for a bulls-eye score. My game counts the score as 'double' when I get one).

Illumicorp is alive and well, in this Soetoro 'consideration'.

http://www.youtube.com/watch?v=KnfuF0oYhAk

When the chemtrailers spray that nano-aluminium and nano-barium over your land, what do you do to keep the plants alive? Have you found a way to keep the leafy vegetables from absorbing too much Fuku?

All hail $10.10! the NEW 'foarward' in the slavery deception game should be recognized and hailed as one of the BEST 'end-around' moves EVER! A frigging 'HAIL MARY' play!

Fri, 01/17/2014 - 00:34 | 4340089 A Nanny Moose
A Nanny Moose's picture

Green houses? Fermentation?

Fri, 01/17/2014 - 01:48 | 4340165 401K of Dooom
401K of Dooom's picture

Yeah but the big questions are do you have enough ammunition and what kind of firearms do you have?  Do not respond to this question as NSA, CIA, MI5 & 6, Mossad, PSIA, FIS, BATF, FBI, Google, Microsoft, Southern Poverty Law Center, The entire Ivy League and Slashdot.org are closely monitoring ZeroHedge!

Fri, 01/17/2014 - 02:26 | 4340193 August
August's picture

>>>We will do everything we can to not send one red cent to fund our country's demise.

Great sentiment, and I share it.  However, it's really not a "country" anymore, it's more like a... "scheme".

Fri, 01/17/2014 - 06:26 | 4340289 Offthebeach
Offthebeach's picture

Who would of thought Americans like 1943 Poles would die for a mule and a acre of cabbages, potatoes, some chickens and the misses chopping wood?

Onwards Obamavitzs!

Thu, 01/16/2014 - 21:16 | 4339662 walküre
walküre's picture

Where's Russian ZH Resident "Boris A" to explain us in plain Russkie-English what to expect?

That renaissance in American manufacturing was surely short lived. It died before it ever had a chance to crawl.

Make no mistake, if Obama does this the rest of the world leadership will follow suit as no idiot shall be left behind?

Thu, 01/16/2014 - 21:36 | 4339729 flacon
flacon's picture

The former Soviets openly admitted (and this is not a joke) that once Communism reached it's apex, THE OCEANS WOULD TURN TO LEMONADE. I kid you not!

Fri, 01/17/2014 - 00:01 | 4340040 acetinker
acetinker's picture

I'm still puzzled by your observation of the prius with the "veterans for obama" sticker.  By any chance, do you live in the May-retta/Roswell area?  I aint tryin' to flush you out, but I think I might just know you, Crispy Critter.

If your given name is Michael, I get more sure.

Anyway, my name is Rob, and that's all I'm gonna say about that.

Sat, 01/18/2014 - 04:33 | 4343517 krispkritter
krispkritter's picture

Sorry Ace, not me. :)

Sat, 01/18/2014 - 20:51 | 4344947 acetinker
acetinker's picture

Cool, thx for the reply.

Thu, 01/16/2014 - 20:40 | 4339560 Stackers
Stackers's picture

This nothing but political grand standing. One of the first things Obama did in his first term was to sign an excutive order forcing all Federal Contractors to pay union wages and union dues, whether they are union workers or not. So all Federal Contractors already get way above the current minimum wage.

Thu, 01/16/2014 - 21:00 | 4339615 pods
pods's picture

Or could he just send out a memo that says:

"Hey, can you pay the guys a bit more?"

I think the HNIC is just starved for attention myself. No love from the wookie.

pods

Thu, 01/16/2014 - 22:12 | 4339813 MontgomeryScott
MontgomeryScott's picture

@ pods,

If YOU were handcuffed to the Wookie, would YOU want the love that it has?

Personally, I would be cutting off my own arm...

Fri, 01/17/2014 - 00:12 | 4340061 acetinker
acetinker's picture

Even though I'm pretty certain you're a paid troll (failing that , you're an idiot), I've heard it said that once you go black, you never go back.

 

Fri, 01/17/2014 - 00:46 | 4340104 A Nanny Moose
A Nanny Moose's picture

just let the wookie pull your arms out of their sockets.

Thu, 01/16/2014 - 22:11 | 4339804 MontgomeryScott
MontgomeryScott's picture

@ Stackers,

Wrong conclusion.

This is a cold, calculated effort (and it WILL be sucessful...gee, where have I heard THAT line before, Poppa Bush?) to inflate the currency (devalue the US$). IF the FEDERAL minimum wage goes up, the MANDATED STATE minimums will HAVE to go up as well, and that 99 cent hamburger just got a lot more expensive (OR, the 20$ an hour wage-earner just saw the value of his earnings DECREASE when he goes to buy a cheeseburger).

Its NOT about 'unions'. They have only a marginal membership at this time, less than 10% of the workforce in raw numbers. O really doesn't GIVE A SHIT what Federal employee poens make, anyway ('The One' is so far removed as to be from a different planet on this subject).

Sorry, I gotta downvote this comment of yours (because i disagree vehemently, and you don't understand what is transpiring).

Thu, 01/16/2014 - 22:17 | 4339825 Stackers
Stackers's picture

No it's not about unions. but you are not understanding what he did. He did not raise the Federal minimum wage law. All he did was say if you are working on a government paid for job, either as a direct employee of the government or it's sub-contractors then you have a new minimum wage at $10.10

In order for them to change to the minimum wage for the entire country will require a law passed by Congress, which will not get through the Republican House, so this whole thing is just kabuki theater

Thu, 01/16/2014 - 22:28 | 4339847 Ned Zeppelin
Ned Zeppelin's picture

Correct. Thank you.

Fri, 01/17/2014 - 00:36 | 4340091 Tall Tom
Tall Tom's picture

I DO NOT SUPPORT THIS, BUT...

 

It will get through the Republican House as Boehner will bend over for Obama.

 

This is about GOVERNMENT SURVIVAL, THE CONTINUITY OF GOVERNMENT, and nothing more.

 

Read my posts which follow and it will give you a clear picture that the PONZI SCHEME OF SOCIAL SECURITY, MEDICARE, and Federal Unemployment Insurance are the underlying reason.

 

The RINOs commit Political Suicide if they do not follow Obama's lead. The Government will shortly be insolvent if this does not happen.

 

(Of course that would be a good thing, but...I will not hold my breath waiting.)

Fri, 01/17/2014 - 00:50 | 4340108 A Nanny Moose
A Nanny Moose's picture

For which we will gladly pay you on Tuesday.

Thu, 01/16/2014 - 20:40 | 4339562 economics9698
economics9698's picture

End the Fed and the nightmare is over.

Thu, 01/16/2014 - 20:51 | 4339588 Keyser
Keyser's picture

The Fed, Treasury and Banking system are all one entity. Much like a Hydra, it's going to be a bitch to cut all the heads off. 

Thu, 01/16/2014 - 21:31 | 4339716 walküre
walküre's picture

Whoever junked you is a dolt.

Thu, 01/16/2014 - 22:12 | 4339810 Milestones
Milestones's picture

Flame throwers or one helva of a lot of rope.                   Milestones

Thu, 01/16/2014 - 22:35 | 4339863 MontgomeryScott
MontgomeryScott's picture

@96 98,

Hammer. Nail. Strike. Drive. NAILED.

I started the first chant (YES, I really DID) in a crowd of about 23,000, in Minneapolis at the target Center back in '08. More people were there than at the simultaneous Police-state Republican convention across the river at St. Paul. I remember Hannity on the XM in my rented car, in the parking lot at the hotel in Blayne the day prior, saying that he didn't know ANYTHING about Sarah Palin. He went in to a discourse about what an 'unknown' she was, but he finished up stating that he 'really liked her' as McCain's running mate (probably due to Ron Paul's obvious popularity, and the challenge he was putting forth at the time). A fucking RIOT, he was...

http://www.youtube.com/watch?v=GdRA04iIFtI

I was really non-plussed about the Campaign For Liberty, though. It seemed like another 'PAC'...in retrospect, I was still green (a little).

 

Thu, 01/16/2014 - 20:24 | 4339501 BLOTTO
BLOTTO's picture

Does that mean my foot long (thats really 11") subway sub will now cost me $15 to compensate for the increase in the minimum wage?

Thu, 01/16/2014 - 20:44 | 4339573 sleigher
sleigher's picture

No, it means Subway will be a forgotten foot note in the history of fat america.

Thu, 01/16/2014 - 21:55 | 4339771 Occams_Chainsaw
Occams_Chainsaw's picture

But what about Jarrod...he got skinny eatin' sammiches'?

Thu, 01/16/2014 - 20:52 | 4339585 donsluck
donsluck's picture

Hmmm, figuring it takes about 5 minutes to make it, (5/60 x ($10.10-$7.25) + $5.00 = $5.24.

Sooo, no.

Thu, 01/16/2014 - 22:46 | 4339886 MontgomeryScott
MontgomeryScott's picture

AND, the people at the slaughterhouse get a raise, AND the illegals out in the fields get a raise picking the veggies, AND the people who make the paper wrappings get a raise, AND the people who make the tape for the wrappers get a raise, AND the people at the gas station where the truck stops get a raise, AND the people where the truck driver who delivers the food to the restaurants stops on his way to eat get a raise, AND...

DAMN, SKIPPY, why don't you stop and think a little more REALISTICALLY about this? HELL, the Subway owners now have to pay more out in fucking unemployment and co-contributions, for fuck's sake, so they will have to raise the prices to compensate (AND, the landowners need to make more due to all the same reasons, so the rent will go up to compensate, and the Subway owners will have to cover the spread, AND the Federal Government will be getting even MORE to fund their ever-increasing shortfalls, AND the BANKSTERS can now INCREASE their interest rates...).

I thought you are either stupid, or simply simple, when I read your comment.

Are you SERIOUSLY contemplating a career in macro-economics? If so, the Federal Assistance Programs might be the place for you, donsluck.

GOD, what an issue we have...

 

Thu, 01/16/2014 - 20:53 | 4339596 Keyser
Keyser's picture

Relax, this pay increase is only for federal contractors. So unless the gubbamint buys all the fast food joints, you're safe. For now. 

Thu, 01/16/2014 - 21:42 | 4339745 Greenskeeper_Carl
Greenskeeper_Carl's picture

Would you put it past them? Next up on the QE batters box, McDonald's backed securities.

Thu, 01/16/2014 - 22:50 | 4339899 MontgomeryScott
MontgomeryScott's picture

Let's see.

The Federal Government (INC.) 'bailed out' Chrysler, and NOW, FIAT owns them, 100%.

Do you THINK that McDonald's might be 'hurt' by this, and go hat-in-hand, asking for a bailout, after Big Macs start costing more to produce than the people are willing to pay? I just wonder WHO or WHAT corporation will buy them. Say, do they have fast-food conglomerates in, say, CHINA?

Fri, 01/17/2014 - 00:38 | 4340092 bidaskspread
bidaskspread's picture

No, it means that deposits on ebt cards will increase offsetting the price increase on the footlong. More Americans will struggle to make ends meet so we will need to raise taxes on those that can afford a 15 dollar sub. This revenue will then be used to provide a free sub to those struggling, cutting the price of a sub to 7.50 a sub for two. With people able to purchase a 7.50 sub, that will create jobs. Since everyone knows in the Us we are sandwich artists, more people around the world will demand subs. Exports will increase of sub sandwiches not because of price but because of the people that make them. After that Gdp will increase at an annual rate of 12% but Mr. Subway gains back all his weight. It's a small price to pay, but someone has to get fat off this plan.

Fri, 01/17/2014 - 00:55 | 4340115 A Nanny Moose
A Nanny Moose's picture

No. It will be made by robots. Sammich-bots.

Fri, 01/17/2014 - 01:04 | 4340124 bidaskspread
bidaskspread's picture

So you heard about the burrito vending machines as well? Can't wait for its black Friday specials.

Fri, 01/17/2014 - 01:35 | 4340147 A Nanny Moose
A Nanny Moose's picture

I've bought beer and Pokki from vending machines in Japan. No gratuity required.

Nothing surprises me anymore. I just shake my head and say, "told ya so"

Fri, 01/17/2014 - 01:36 | 4340148 A Nanny Moose
A Nanny Moose's picture

dupe post

Fri, 01/17/2014 - 11:31 | 4340905 RKDS
RKDS's picture

If minimum wage goes up a single solitary cent, everything everywhere will triple in price because uncertainty.

Thu, 01/16/2014 - 22:29 | 4339582 rbg81
rbg81's picture

Whatever measures Obama takes to decrease "inequity" and boost the economy will have the opposite effect.  But it will sound good to the Free Shit Army and Sheeple--which is the most important thing.  It's all part of THE PLAN.

Fri, 01/17/2014 - 11:54 | 4341023 moneybots
moneybots's picture

"Why not $100 an hour?"

 

The minimum wage would be 10.75 if it was indexed to inflation in 1968.

Thu, 01/16/2014 - 21:38 | 4339725 SilverRhino
SilverRhino's picture

 

>>That's a 39.31% Rise.  Got Inflation, Anyone?  This is his transformation?

 

HOW MANY UNION CONTRACTS HAVE WAGES THAT ARE INDEXED AS A MULTIPLE TO MINIMUM WAGE?   

That's who the real beneficiaries are going to be.   That's who's getting paid back with this action.   

 

Thu, 01/16/2014 - 20:12 | 4339449 Ballin D
Ballin D's picture

Itll be good for me. Ive been eating too much fast food since they can make it so cheap. $10 happy meals will change that.

Edit: shit, federal employees only. Reading is fundamental.

Thu, 01/16/2014 - 21:44 | 4339749 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

These "leaders" have NO IDEA what running a small business takes, NONE whatsoever.  Jobs will vaporize...sayin.

Thu, 01/16/2014 - 20:07 | 4339425 nope-1004
nope-1004's picture

If there is no inflation, why would .gov need to raise MW?  Seriously.

More proof we have currency debauchery and dollar destruction happening in real time.  Obama just basically said Bernanke is a LIAR, which I knew anyway.  Raise minimum wage why?  Because of "strong dollar policy"?

Fucking lying government.

 

Thu, 01/16/2014 - 21:36 | 4339714 Tall Tom
Tall Tom's picture

If there is no inflation, why would .gov need to raise MW?  Seriously.

 

Okay. Seriously...

 

Social Security, Medicaid, and the Unemployment Insurance Fund, are on the verge of insolvency. They need an increase in Minimum Wages to increase the TAX REVENUES paid to these programs. It is not about inflation. It IS ABOUT KEEPING THE PONZI SCHEME AFLOAT FOR SOME MORE TIME.

 

While Minimum Wage Employees do receive a Tax Refund of Federal and State Witholding Tax, you must also be aware that the FICA, Medicaid, and FUTA taxes are NOT REFUNDED. Since these are rated as percentages of the Gross Pay then any percentage increase in the Minimum Wage will be the same "expected" percentage increase in Revenues toward FICA, Medicaid and FUTA.

 

Thus, ideally, according to the Government. the 30% raise in Minimum Wage will equate to a 30% rise in Revenues for Social Security, Medicaid and the Unemployment Insurance Funds.

 

Of course the Laffer Curve is going to bite them in the ass as more become unemployed and add further burdens upon a depleted benefit system. There will be a lot of suffering as a result of this action.

 

The excuse for raising the Minimum Wage is " to help the poor".

 

The reality is that Government is always SELF INTERESTED. If they want a TAX INCREASE this is a Stealth method on doing just that.

 

"I will not raise taxes on anyone who earns less than $200,000 per year."  ~ Barack Obama

Thu, 01/16/2014 - 21:37 | 4339734 overexposed
overexposed's picture

Wow, I think this is the most lucid take on the whole manufactured controversy that I've heard yet -- Freaking brilliant analysis!!

Thu, 01/16/2014 - 21:50 | 4339753 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

I thought they planned to solved that prob with a 1.5% increase in benefits but a 2.9% increase in the wage limit. Hmmm, thought both would be tied to "inflation."

Thu, 01/16/2014 - 22:52 | 4339902 MontgomeryScott
MontgomeryScott's picture

@ Tall Tom,

You are close, VERY close to the revelation.

Thu, 01/16/2014 - 23:32 | 4339988 Tall Tom
Tall Tom's picture

Thanks. What did I miss?

Fri, 01/17/2014 - 01:06 | 4340126 A Nanny Moose
A Nanny Moose's picture

Better yet. If increasing min wage was so beneficial to the economy (an abstraction itself), why would it ever be necessary to increase the min again? After all, min wage was raised infinitely after FDR ($0.00 to $0.25)

Thu, 01/16/2014 - 21:20 | 4339677 Bangin7GramRocks
Bangin7GramRocks's picture

Yes! When will the madness of subsistence wages end! That's what I want to know! A new GM factory full-time employee can't afford the payment on a base level Cobalt. Race to the bottom. And all of you anti-labor dickheads are leading the way. Sorry, not everyone is cut out to be a thieving, lying paper shuffler. Most people are productive and would love to be paid a wage that can support a human in 2014!

Fri, 01/17/2014 - 00:24 | 4340073 Tall Tom
Tall Tom's picture

Government Price Controls ARE anti-labor. Labor does have a price after all. Businesses moves to where labor is less expensive as Companies are in it to make profits. The successful business minimizes expenses and maximizes Revenues to optimize the profit. The only morality in business is the Bottom Line. Humans are just a resource to exploit and will be replaced by machines when it is economic to do.

 

If a business cannot profit then they will fire all of their employees...either voluntary through wise decisions...or forced through an insolvency and subsequent bankruptcy and liquidation. Either way people become unemployed.

 

I am sorry that this is "not nice" but it is the reality. That is Capitalism, a system which I support.

 

You are not entitled to a paycheck.

You are not entitled to a job with a living wage.

 

If you do not want to work for someone else you are free to make that choice. You can always open up a "Cottage Industry" and work for yourself...if you really want to be productive. Of course if you ever hire anybody to help you then you will want to profit from that labor.

 

It is your choice after all.

 

Choose wisely.

Fri, 01/17/2014 - 07:27 | 4340328 Bangin7GramRocks
Bangin7GramRocks's picture

Blah blah, read in a book somewhere, blah blah, heard it from Larry Kudlow. Save the theory of capitalism asshole. I'll give you a simple little primer on capitalism. If there aren't customers that can afford your products, you go bankrupt. What a bowlful of turds!

Fri, 01/17/2014 - 10:49 | 4340746 Tall Tom
Tall Tom's picture

I do not listen to Kudlow or Cramer. I am not Main Stream.

 

If I can not produce at a profit I shut my doors. I do not go bankrupt. I fire my employees.

 

Why have the headache of running a business when I can get guaranteed returns from Eqity Markets because of US Fiscal and Monetary Policy?

 

As long as my cash is in Equities and I do not sell and take a Capital Gain then I have NO TAX LIABILITY. I only pay taxes on Dividends. That is quite a bit of a difference than running a business for profit and paying the taxes on the profits earned.

 

(Personally I am not doing this as I believe that it is immoral. But many former Main Street Employers have done this.)

 

But I will invest where I will get a return. I have the capital.  I will offshore it and sell to customers overseas if I want.

 

There is an entire World. The USA has just 5% of the World's Population. The USA is dying as a result of SOCIALISM and Crony Capitalism. The USA doesn't even have any Gold left.

 

So I am not too concerned about those whom have an entitlement attitude. I will not support them. They are in for one rude awakening.

 

Freedom is not free. Enjoy your Socialism. Just how is the Government going to pay for it?

 

 

Fri, 01/17/2014 - 01:14 | 4340135 A Nanny Moose
A Nanny Moose's picture

No. Currency destruction is leading the way @$$hat (no insult to asshats intended). Nominal wages are irrelevant. The currency in which an hour of labor is denominated, is what matters.

Your homework is to read some "What has Government Done to Our Money" - Murray Rothbard

Thu, 01/16/2014 - 21:25 | 4339699 Greenskeeper_Carl
Greenskeeper_Carl's picture

When has that ever happened? He is covered. The MSM always has his back, and "free market capitalism" and greedy rich people will be blamed when the result is exactly the opposite of what they say will happen. All this will do is make those burger flipping machines and others like them more prevalent.

Fri, 01/17/2014 - 15:42 | 4341866 TheReplacement
TheReplacement's picture

That's insane.  Why would you want the people who voted for this mess to get off?  Why would you want all of the politicians that wrote our laws to get off?  Why would you want the bankers to get off?

If we are going down, we are gonna go down hard and everyone, EVERYONE has to feel it. 

Thu, 01/16/2014 - 20:06 | 4339436 aVileRat
aVileRat's picture

Clearly what failed to improve the lot of Americans in the 1970's will work this time, because Obama.

Thu, 01/16/2014 - 22:09 | 4339718 onelight
onelight's picture

Eventual rise in MW will coax the young and invincible into signing up at healthcare.com... $500 a month is more than they have now, but raise MW and presto-change-o, you're cooking with gas.  

Thu, 01/16/2014 - 21:40 | 4339741 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Enjoying a LTD beer tonight...cap says Luddite Technology Dilemma.

Thu, 01/16/2014 - 20:06 | 4339434 tarsubil
tarsubil's picture

With the same shit over and over again, are they really? Kingdom Come would be interesting.

Fri, 01/17/2014 - 01:32 | 4340143 A Nanny Moose
A Nanny Moose's picture

Kingdom Come (warning: 80's metal hair band)...

http://www.youtube.com/watch?v=XfhQaIJCeVg

If you let them they will just
Keep going on and on...

Thu, 01/16/2014 - 20:15 | 4339467 NOTW777
NOTW777's picture

evil times - we have a dictator

Thu, 01/16/2014 - 19:55 | 4339368 nmewn
nmewn's picture

So he's giving his .gov henchmen a raise...whowouldathunkit!

Thu, 01/16/2014 - 19:59 | 4339389 kaiserhoff
kaiserhoff's picture

Because $150,000 is not enough for a rent-a-cop?

We're not yet a banana republic. 

More like a Buckwheat Republic.

Thu, 01/16/2014 - 20:07 | 4339440 MiguelitoRaton
MiguelitoRaton's picture

Bush bought the vote with Part D, Obama buys the vote with Minimum wage increase...that is modern politics, buying votes/support/control with the people's own money and the fools fall for it...very sad!

Thu, 01/16/2014 - 20:20 | 4339485 booboo
booboo's picture

Fuuuuuuk, Obama make Bushtard look like a piker, Oblammy has been burning the house down with Hugo Chavezonomics.

Thu, 01/16/2014 - 21:23 | 4339688 Ness.
Ness.'s picture

Many unions jobs have their pay tied to the minimum wage.  This will eventually "trickle down" to the real thugs, the unions.  O'blahblah is in trouble with Dickhead Trumpka and this is his banana leaf.  obamie doesn't give a fuck about the minimum wage morons, he owns their asses already.  He needs to get Dickie T off his ass or he'll end up Kennedy'd.

Thu, 01/16/2014 - 21:45 | 4339750 Yukajub
Thu, 01/16/2014 - 19:57 | 4339373 Real Estate Geek
Real Estate Geek's picture

Yeah, but how many of those lazy fucks "earn" minimum wage? Not too many, I'd wager.

Thu, 01/16/2014 - 20:11 | 4339457 knukles
knukles's picture

Exactamundo

Many are paid it, but few earn it.
Now, how about the spillover to the EBT recipients?

And Who the Fuck is Gonna Pay for This Shit?

You and Me!

This will go over like a fucking rock.

Thu, 01/16/2014 - 20:25 | 4339506 phoolish
phoolish's picture

What kind of .gov payments, etc. are indexed to this "wage?"

 

 

Thu, 01/16/2014 - 20:56 | 4339604 new game
new game's picture

think of any spending in excess of existing as moar debt.  exactly what the fed does best.

the system just grows aka japan. debt is the fertilizer for the hopium crop. oooh that smell.

jam er home...

Thu, 01/16/2014 - 19:56 | 4339374 seek
seek's picture

Just another milepost on the way to collapse.

EO's setting prices ala Venzuela... I'll take even money bets it happens by 2018.

Thu, 01/16/2014 - 20:00 | 4339376 falak pema
falak pema's picture

the day Obammy reinstates Glass Steagall and repeals the PAtriot Act and curtails NSA and pulls the USA out of the ME he will be on the way to rebecoming a human being.

Your blog spiel has it all wrong. He cannot be an Oligarchy shill and a "communist" as portrayed in your banner.

Those guys on that poster did not believe in the "rich wins poor loses" mantra. 

you are either a monetary oligarch, new Romanov, or a blue blooded commie. Its one or the other. 

Thu, 01/16/2014 - 20:17 | 4339477 Foul Harold
Foul Harold's picture

Why does it have to be one or the other?  Obama embodies the worst qualities of all three, lining his pockets and strokng his ego  via backdoor cronyism for the elite and socialist demagoguery and patronage for the masses.

Thu, 01/16/2014 - 21:04 | 4339626 pods
pods's picture

You just described about every president in my lifetime.
Some are just better storytellers than others.

pods 

Thu, 01/16/2014 - 21:47 | 4339754 Ballin D
Ballin D's picture

Hes the best story teller and controls the strongest propaganda machine and still appears to be the worst of the worst

Thu, 01/16/2014 - 20:32 | 4339534 booboo
booboo's picture

No commie admits to their designs and may not even believe in that "rich win poor loses" but it's the end result that counts and in every case there are rich and poor, get over it, every commie state has rich and poor. Some people hire the government to stick a gun in their neighbors face and steal his shit and as some old dead white guy once said "as long as there is a big enough government to give you everything you want they will be big enough to take all your shit too" ok he said something like that.

Fri, 01/17/2014 - 02:16 | 4340188 mc225
mc225's picture

'glass steagall'... corny

Thu, 01/16/2014 - 19:57 | 4339377 andrewp111
andrewp111's picture

This kind of stupidity could end up hurting the Federal Government itself. Very often government interns are given a salary based on the minimum wage, and the contracts have to be funded and paid a year in advance. That means the money has already been paid to the contractor. If the minimum wage is raised, the contractor will be able to hire a smaller number of high school interns for government laboratories.

Thu, 01/16/2014 - 20:11 | 4339455 XitSam
XitSam's picture

Nancy Pelosi doesn't pay her interns minimum wage http://www.youtube.com/watch?v=8pFC3LKMIQo

Thu, 01/16/2014 - 20:14 | 4339465 knukles
knukles's picture

Betcha Mr P doesn't get blow jobs, either.

 

come on babe, just take out yer full upper and lowers and lemme squirt a little KY in yer mouth

Thu, 01/16/2014 - 21:10 | 4339609 Uncle Remus
Uncle Remus's picture

Baby, take your teeth out.

"...girl must be praketing richcraft"

Thu, 01/16/2014 - 21:32 | 4339720 walküre
walküre's picture

Now that is something I would call a stretch of the imagination. If you've got nothing else to worry about, your life is dandy.

Thu, 01/16/2014 - 19:57 | 4339379 Dr. Engali
Dr. Engali's picture

Quite frankly I hope he does. I'm tired of pretending we live in a republic. Burn it down.....burn the whole damn thing down to the ground.

Thu, 01/16/2014 - 20:02 | 4339408 machineh
machineh's picture

I don't understand why every child is not getting a pony too.

Thu, 01/16/2014 - 20:16 | 4339471 knukles
knukles's picture

We've transitioned past the pony stage.
It's miniature unicorns, now.

 

This whole society has entered the Lemmon 714 drool stage

Thu, 01/16/2014 - 22:19 | 4339828 Occams_Chainsaw
Occams_Chainsaw's picture

Hey...I've got a full blown Unicorn that shits skittles and Bitcoins.

Thu, 01/16/2014 - 20:32 | 4339538 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Because, and only because, PETA would not be down with that.

Thu, 01/16/2014 - 20:05 | 4339430 DaveyJones
DaveyJones's picture

and we are we going to finally get rid of these other two pesky branches of government? 

Thu, 01/16/2014 - 20:21 | 4339488 XitSam
XitSam's picture

Separation of powers is a myth similar to the two-party system.  All parts of government want to expand government.

Thu, 01/16/2014 - 21:05 | 4339629 new game
new game's picture

can it be stopped?

Thu, 01/16/2014 - 21:00 | 4339576 OC Sure
OC Sure's picture

It is gutwrenching and destructive to watch the inevitable happen in slow motion. The Republic has not been kept. Democracy is just the one way transition from Republic to Despotism. Old Ben knew this. Here is what he said just before all the founders signed and created what was the republic on September 17, 1787:

"...there is no form of Government but what may be a blessing to the people if well administered, and [I] believe farther that this is likely to be well administered for a course of years, and can only end in Despotism, as other forms have done before it, when the people shall become so corrupted as to need despotic Government, being incapable of any other." - Ben Franklin

After the collapse happens and there is an opportunity to restore the Republic to the founders intent, will there be more government indoctrinated automatons zombying about or will there be enough Franklin masterminds to reset the Republic?

Thu, 01/16/2014 - 21:10 | 4339645 Meat Hammer
Meat Hammer's picture

Another astute commentary by you, Doc.  I couldn't agree more.  Give them all $500/hr, a private jet, a selection of hookers, unionize said hookers, and let's hurry this collapsey thing up already!  

Thu, 01/16/2014 - 21:31 | 4339717 resurger
resurger's picture

ill light a match.

Thu, 01/16/2014 - 21:33 | 4339723 jerry_theking_lawler
jerry_theking_lawler's picture

As my own 'sovereign'...I am going to sign a law outlawing the payment of taxes....my taxes.

Thu, 01/16/2014 - 19:57 | 4339381 plane jain
plane jain's picture

Federal workers and contractors...doesn't seem like that big of a deal.  Are there actual Federal employees only making minimum wage?

Thu, 01/16/2014 - 20:01 | 4339404 nmewn
nmewn's picture

Ya know, you might be right...a .gov employee on toilet swabbie duty probably makes thirty bucks an hour plus benis.

Thu, 01/16/2014 - 20:32 | 4339535 90's Child
90's Child's picture

http://www.urs.com/us/

Used to be contracted out in Tooele county Utah bout five miles from where I live, disposing of ammonitions and hazardous material.

Friends dad made $60+ an hour as plant shift supervisor. His son works for Battelle another government contractor making $30+ an hour.

When they closed down early/mid 2013 his father got a six figure bonus close to seven figure.

His son got low six.

They moved out to Pueblo, Colorado now and got the plant going there. Their expenses and move was paid for and they both saw a 25% raise.

Thu, 01/16/2014 - 20:51 | 4339589 nmewn
nmewn's picture

Friggin amazing ain't it?

They're trying to get everyone into the patronage system, one way or the other.

Thu, 01/16/2014 - 21:24 | 4339691 new game
new game's picture

and it is happening-whats not to want working about 6 hours and getting paid for 8 plus nice gov garanteed bennies plus state/fed backed pension...

wtf did i do wrong?

 

Thu, 01/16/2014 - 22:05 | 4339791 90's Child
90's Child's picture

I thought bout applying before I got my current job.

Then realized I might as well be on food stamps and welfare cause it's still tax payers money I was taking for practically nothing.

Fri, 01/17/2014 - 08:25 | 4340359 Kobe Beef
Kobe Beef's picture

Thank you for not parasitizing.

Thu, 01/16/2014 - 21:02 | 4339618 Uncle Remus
Uncle Remus's picture

I read "penis" not "benis".

Thu, 01/16/2014 - 21:17 | 4339666 nmewn
nmewn's picture

lol...yeah, I heard about that.

Medicare is (of course) paying twice the going rate for "hand jobs"...

"The Medicare program paid about $172 million in claims towards penis pumps, a treatment for erectile dysfunction, between 2006 and 2011, according to the inspector general for the Department of Health and Human Services. That's about double the retail price."

http://www.nydailynews.com/life-style/health/penis-pumps-cost-medicare-172-million-report-article-1.1578951#ixzz2qc7u58cV

Government-Incompetence-Graft-Corruption-Never-Fucking-Ends.

Thu, 01/16/2014 - 20:02 | 4339410 Dr. Engali
Dr. Engali's picture

Funny thing about accepting executive orders as no big deal.....suddenly you find yourself ruled by edict.

Thu, 01/16/2014 - 20:13 | 4339462 optimator
optimator's picture

And at some point the Reichstag, er, Congress won't be needed to even rubberstamp.

Thu, 01/16/2014 - 21:04 | 4339627 Uncle Remus
Uncle Remus's picture

Watch out, you might what you're after.

Fighting fire with fire.

Thu, 01/16/2014 - 20:18 | 4339479 plane jain
plane jain's picture

No argument on that point.  Just saying that if it was a raise in the MW for all workers that would be a big thing.  This seems more like political stagecraft.

I wouldn't be surprised to find a lot of the Federal contracts already have some kind of wage provision.  I find it unlikely that there are many Federal workers, or workers for contractors, making less than about $12 an hour.

Thu, 01/16/2014 - 20:33 | 4339536 Ham-bone
Ham-bone's picture

think the point is not just Fed employees but all those contracted by the Federal gov to do work would need to meet this standard (and these contractors would raise their wages for all jobs they do...not just Fed jobs)...and this standard would likely be followed by most states/cities/munis for their workers or those they contract out to...and on and on.

Thu, 01/16/2014 - 20:35 | 4339546 Dr. Engali
Dr. Engali's picture

Yeah I agree. I just find this all very frustrating watching this go on, and there's not a damn thing I can do about it. The sad thing is a majority of people will think this is a good thing.

Thu, 01/16/2014 - 20:43 | 4339565 Ham-bone
Ham-bone's picture

good for those who get a raise and see their disposable income raise...bad for same people who then realize prices have risen considerably and much of raise is already gone

bad for those looking for a job, running a business, buying groceries, etc.

Amazing Obamacare followed by Obamaraise...I'm not sure history who history will revile more, Bush or Obama???  Obama doing all he can to out-stupid Bush and show he too is the "decider".

Thu, 01/16/2014 - 21:26 | 4339705 new game
new game's picture

trickle up to moar debt...

Thu, 01/16/2014 - 20:23 | 4339498 DaveyJones
DaveyJones's picture

and edith can be a real bitch

Thu, 01/16/2014 - 20:36 | 4339551 Dr. Engali
Dr. Engali's picture

Ooooohhhh. Archie.......

Thu, 01/16/2014 - 20:28 | 4339522 plane jain
plane jain's picture

Went and checked out some government pay grade info for my own amusement.  On the spreadsheet of General Schedule Rates I only found around 10 grade 1 listings that were under $10.10 an hour...most were very near that.  Only exception were pay grades 1 and 2 classified as GS.

http://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/

Of course I have no idea how many people fall into GS 1 and 2.  

Thu, 01/16/2014 - 19:58 | 4339384 ebworthen
ebworthen's picture

He should start by decreeing that health insurance companies provide zero deductible plans with no co-pay.

Then he can decree that any employer that employs anyone for one minute or more per week has to provide health insurance and pay 50% of the policy premium.

Of course, his masters won't allow that, and he'll decree a $2 minimum wage increase that won't do shit for anyone.

Just like the FED slathering QE gravy on Wall Street for 4+ years rather than simply sending each citizen $3 million tax-free.

The Kleptoligarchy marches Forward!

Thu, 01/16/2014 - 19:58 | 4339390 Surging Chaos
Surging Chaos's picture

Wake me when Obama issues an Edict of Maximum Prices just like Diocletian did.

Thu, 01/16/2014 - 19:59 | 4339394 Mike in GA
Mike in GA's picture

This would clinch impeachment proceedings and more lawsuits.  Bring it.

Thu, 01/16/2014 - 20:02 | 4339406 phoolish
phoolish's picture

Doubt it.

 

O'Boehner & O'bami are probably 1/2 Brothers.

Thu, 01/16/2014 - 20:34 | 4339543 Pure Evil
Pure Evil's picture

They may not be brothers, but undoubtedly they enjoy passing each other snowballs and hooking up to make a shit sandwich.

I can almost hear Bohner say, "now the hotdog goes in the bun and then we spread some brown spicey mustard all over it".

Thu, 01/16/2014 - 20:12 | 4339459 Blano
Blano's picture

The RINO's are too busy with amnesty and fighting real conservatives.

Thu, 01/16/2014 - 20:31 | 4339528 ebworthen
ebworthen's picture

They can't even charge Corzine or the J.P. Morgue for outright theft of $1.2 Billion.

The law is dead.

Thu, 01/16/2014 - 22:18 | 4339644 Dr. Engali
Dr. Engali's picture

Listen closely...,.. There will be NO impeachment. Congress has caved on every issue they've encountered. They don't have the balls to impeach this asshole.

Thu, 01/16/2014 - 20:01 | 4339396 Max Cynical
Max Cynical's picture

Good luck finding a fereral contractor that makes less than $100/hour.

This is just bluster...it will literally not affect one employee.

Thu, 01/16/2014 - 20:00 | 4339398 buzzsaw99
buzzsaw99's picture

does nothing, which is the best we can ever hope for from obummer

Thu, 01/16/2014 - 20:03 | 4339415 fonzannoon
fonzannoon's picture

At least Walmart and McDonald's employees can afford their product for 3 hours before they raise their prices and negate the impact of this. 

FFS just print the money and send us all a check already. 

Thu, 01/16/2014 - 20:13 | 4339458 Dr. Engali
Dr. Engali's picture

The employees won't even get to benefit, Spralmart and McShitty will price it in before it takes affect.

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