Goldman Sach says record profit because wages too low

Re: Goldman Sach says record profit because wages too low

Postby The Dharma Bum » Mon Jan 27, 2014 8:28 pm

or a 20 hour work week
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Re: Goldman Sach says record profit because wages too low

Postby Doncorelone » Sat Feb 15, 2014 5:11 pm

Menson wrote:People are glad just to have a job. I am noticing serious shifts back to locally based food and luxury good production. I think the path to employment for a lot of people, in the future, is going to have to be developing a marketable skill (carpentry, sewing, soapmaking, husbandry, etc) and producing/selling things in local markets just like in the old days. Multinationals are realizing that they can do more with less. People are going to have to carve out their own living based on the skills that they have to offer. It isn't a prestigious way to live, but the point isn't to be flashy, it is to survive.


You and Noam Chomsky have something in common.

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Re: Goldman Sach says record profit because wages too low

Postby PoS » Sat Feb 15, 2014 9:09 pm

Nothing wrong with sky high corporate profits. If workers dont like their wages they can quit and find another job. Simple as that.
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Re: Goldman Sach says record profit because wages too low

Postby The Comrade » Sat Feb 15, 2014 10:44 pm

Link?
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Re: Goldman Sach says record profit because wages too low

Postby Stratego » Sat Feb 15, 2014 11:04 pm

Wages isn't too low. Average wage in the US is around $103K. That's not bad.
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Re: Goldman Sach says record profit because wages too low

Postby The Dharma Bum » Sun Feb 16, 2014 7:09 am

PoS wrote:Nothing wrong with sky high corporate profits. If workers dont like their wages they can quit and find another job. Simple as that.

Unfortunately for that line of thought the situation is anything but simple. It is highly complex and requires intellectual and ideological flexibility to address in any meaningful way.

Consider this:
The economic engine that runs society is not unlike the engine of a car. If you made an adjustment that causes the fuel mixture to run too rich then performance is impaired and the internal mechanisms are fouled. Top performance can only be reached when careful adjustment makes all cylinders hit in perfect cadence. This balance will create equilibrium between the many moving parts of the engine and thus top performance is achieved.

Even Goldman Sachs realizes our current state of economic imbalance is likely to cause economic problems. When the imbalance between the components of our economic engine is great enough the edifice upon which our society is built will topple.

Consumerism is is predicated on consumption. Money fuels that consumption. People who have no money can't spend it. That is reality, recognize it for what it is. Your ideas, which are an extreme caricature of the imperialistic impulse of a by gone day, will create nothing but third world type squalor.

If you only think of wealth from the simplistic perspective of "who has the most of wins the social game" of primitive human society then however whoever has the most shells, beads, shiny coins, or digital currency is wealthy, even if that only means having one shiny coin while no one else has any.

However true success is not relative, it either exists because a valid organizational model exists or it doesn't. True wealth will only come from building a mighty engine of production that everyone is invested in and is well organized. The unorganized, unregulated state of affairs that currently exists only encourages mostly the type of unproductive economic activity, initiated up by isolated, desperate people, that is rampant in our society.
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Re: Goldman Sach says record profit because wages too low

Postby The Dharma Bum » Fri Feb 20, 2015 8:51 pm

Bauce wrote:
eynon81 wrote:crap job market.

over-abundance of labor.

Yeah and efficiency is at an all time high so even as demand returns jobs don't.


true healthy growth in aggregate demand requires people to have money to spend. so this is painting ourselves into a corner
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Re: Goldman Sach says record profit because wages too low

Postby exploited » Fri Feb 20, 2015 9:17 pm

The Dharma Bum wrote:
PoS wrote:Nothing wrong with sky high corporate profits. If workers dont like their wages they can quit and find another job. Simple as that.

Unfortunately for that line of thought the situation is anything but simple. It is highly complex and requires intellectual and ideological flexibility to address in any meaningful way.

Consider this:
The economic engine that runs society is not unlike the engine of a car. If you made an adjustment that causes the fuel mixture to run too rich then performance is impaired and the internal mechanisms are fouled. Top performance can only be reached when careful adjustment makes all cylinders hit in perfect cadence. This balance will create equilibrium between the many moving parts of the engine and thus top performance is achieved.

Even Goldman Sachs realizes our current state of economic imbalance is likely to cause economic problems. When the imbalance between the components of our economic engine is great enough the edifice upon which our society is built will topple.

Consumerism is is predicated on consumption. Money fuels that consumption. People who have no money can't spend it. That is reality, recognize it for what it is. Your ideas, which are an extreme caricature of the imperialistic impulse of a by gone day, will create nothing but third world type squalor.

If you only think of wealth from the simplistic perspective of "who has the most of wins the social game" of primitive human society then however whoever has the most shells, beads, shiny coins, or digital currency is wealthy, even if that only means having one shiny coin while no one else has any.

However true success is not relative, it either exists because a valid organizational model exists or it doesn't. True wealth will only come from building a mighty engine of production that everyone is invested in and is well organized. The unorganized, unregulated state of affairs that currently exists only encourages mostly the type of unproductive economic activity, initiated up by isolated, desperate people, that is rampant in our society.


A bit ideological, but still a damned fine post. Well done.
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Re: Goldman Sach says record profit because wages too low

Postby The Dharma Bum » Sat Feb 21, 2015 6:14 am

i'm glad someone read that. thanks!
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Re: Goldman Sach says record profit because wages too low

Postby The Dharma Bum » Sat Feb 21, 2015 6:17 am

the weird thing is i just reviewed that post today because i referenced that article about GS somewhere else
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