Monday, October 13, 2008

the economy.

"One other thing I've done, is I've called on private sector mortgage banks and banks to be more aggressive about lending money to first-time home buyers. And the response has been really good. There's a lot of people in this - our communities around the country that deeply care about the issue of homeownership, and they've been responsive." -George W. Bush, March 26, 2004.

ive always wondered where all these bush supporters are because i sure as hell dont meet them very often. according to the statistics, 1 in 4 people should approve of the job hes doing. i dont get it. i mean i do... theyre mostly rural voters beyond the reach of modern civilization but still... wtf.

im sure theyre the type of people that pride themselves on having only one or not even one news source and disdain urban/intellectual elitism, but dreday raises a good point. hypocrisy. i mean... im just sayin.



the economist on the financial crisis... (also via big cousin.)



i ♥ warren buffet.

oh and i also ♥ paul krugman. he likes beach weak too! congrats and a half on the nobel prize big guy.

oh and last thing... so recently ive been seeing probably some of the strangest ads in the world. heres one from a ny cab...



oh and remember my drunkspress train post? well i took this then.



and heres some in dc near adams morgan that creeped me out...



and by far the weirdest of all...



those are from the metro center stop on the dc metro... i seriously felt like id entered an alternate universe of counter counter culture and it pretty much totally blew my mind.

im sad that the last picture came out a little bit fuzzy cuz it was actually pretty interesting... so i went to the the advertisers website at econ4u.com to get the fuzzy part. here it is...

Correct Answer: 17%
When the minimum wage was created in the late 1930s, most families had only one wage earner and almost by definition low-wage employees lived in low-income families. Over time the labor force has changed and low-wage employees are often second and even third earners. Only a minority of low-wage employees are supporting a family, and only 17 percent are living in poor families. As a result, the average family income of minimum wage employees is over $43,000 a year.

heres paul krugman on the minimum/living wage... if a price floor on labor does indeed create surplus labor (or inversely stated, a shortage of jobs,) i wonder to what extent (if at all) minimum/living wage laws arbitrarily favor those who are actually financially pretty secure at the expense of the 17% of low wage earners who are in fact the primary breadwinner. food (or lack thereof) for thought. maybe a research idea.

ok bye. ♥