Quote:
Originally Posted by Javi
From what I'm seeing in the metal markets and in talking to both our customers and ancillary suppliers... y'all ain't seen nothing yet..
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Scary thoughts for sure. I'm no economist but from my observations it leads me to beleive a major jump in inflation has just started. Basically let's say you work company A and I work at B. I make min wage and that just doubled so company B raises prices by 50% to cover the losses. Then their suppliers do the same so they raise their prices by another 100% to cover the cost of the increased materials.
Now your wages at company A are inadequate to purchase company B`s product so you demand a raise to "keep up with inflation". It's an endless cycle. Then add in the government giving away money and forgiving student loans and the unskilled labor force all but evaporates.
Why does Congress spend OUR money this way? Because it isn't THEIR money. And to compuond the "just for thee but not for me" mind set here are a few facts that some folks may not be aware of. Congress set their salaries and therefore give themselves a raise. Congress as an employer is not bound by the min wage laws they enact. That's right, they don’t have to pay their staff (which typically is sizable) the mandated min wage. Many congressional aids are lookupon an interns and only earn a stipen. Congress does not have the mandated health care we have. They have the best healthcare plan in the country paid by you guessed it, our money. I could go on about their food to getting their mail sent free of charge but you get the picture.
Often quoted and incorectly attributed to someone else... "Power tends to corrupt; absolute power corrupts absolutely"
An observation that a person's sense of morality lessens as his or her power increases. The statement was made by Lord Acton, a British historian of the late nineteenth and early twentieth centuries.
Several in Congress have nearly attained the status of "absolute power" and are working very hard at reaching that goal. This not a political statement as EVERY party has it's share. These are my opinions, yours may differ.