scanning today's headlines.......
"the job market is so good, candidates are skipping job interviews"
"small business optimism surges to highest level ever"
"job openings climb to record levels"
and, at CNN, it says
"all polls show Trump's approval rating dropping"
hmm... trying to connect the dots here
how can the economy be much better if Obama now wants to claim its his
I think if people were aware of the stellar performances taking place in so many sectors of the economy, they'd show more favorable polling results. But most people don't pay much attention to things like this, and you actually have to look for them.. Unlike the days of Obama, where even mediocre eco-news was touted as amazing all day long, every day.
No, people rely on the news for their daily info and they are spoon fed the latest "scandals" even when the scandals don't amount to much. Good news is largely set aside/buried.
I'm sure there is some sort of reason for this...
a really sick way to gain impeachment momentum
So how does a person equate this rosy economic news with demands for Universal Basic Income
Or: Maybe the demand for re-distribution of wealth
Or: the idea that Jeff Bezos is the richest man, but pays his employees minimum wage levels, such that many do not even work a 40 hr week and thus can not support a family. This forces these people to live off gov't social safety networks, thus billionaire Jeff has the gov't supporting his workers weekly income
I dare say that something is going to happen, as we see Chicago, with tremendous debt, seriously thinking about paying selected families $500/month and expanding this program. How far it would expand is anybody guess, but one candidate for mayor in the upcoming Chicago election wants to endorse the idea, if elected
There is a good chance, given enough time this will happen some place.
So how to pay for UBI??
Raise taxes on everybody?? Not likely very popular. Print more fiat and have gov't payments?/ Possible, but a faster step to loss of confidence in the reserve dollar. Tax the rich?? Possible if the Dems win the mid term elections. Move away from Chicago or any place that wants to tax the people. Would work for some time, until you can't find a place to live as the whole country is taxed equally, some way or other
We have the same crazy idea in Canada. The idea seems to have universal support, at least by those who think $500.00/month would be a great idea. It doesn't even have to have a majority support from the electorate, as those who are elected, could suddenly decide UBI is going to happen?
My only thought is to question, before voting, but even then, social democrats or liberals, could win, some seats and then, enough of the entire elected body, could decide to bring a bill to the floor. Then we can only watch and see what happens
Regardless UBI seems to want to happen, given small things now, are actually happening, which most likely could become bigger things later.
I am certain that lots of things will happen in the US in the not too distant, and of course, they will all be more nails in it's coffin as they hasten it's demise. We have a growing segment who truly belief that manufactured crises like "income inequality" are actually problems. And we have a growing segment of people who feel it's up to the employer or the government to make sure that people earn enough, a "living wage". Apparently, individuals are no longer responsible for their own well being. Of course, when I ask for a definition of a "living wage", I'll get a blank stare or an answer along the lines of "Enough to live on". Is it the same for a single mother of 3 as it is for a teenager living with his parents. If not, does the single mother deserve more money for the same job. Of course, there is no logical answer, but then logic no longer fits or belongs in such discussion. Not in todays "enlightened" world.
So, a conclusion along the lines of "An employer who pays so little that his employees require food stamps is living on welfare" is perfectly acceptable...
Of course, none of this really has anything to do with the strength of the current US economy other than the fact that such thinking/action is the very best way to create a weak economy.