Desperate_Expert_952 t1_j8p9y9d wrote
Reply to comment by ExploitedAmerican in Push to boost RI minimum wage loses steam as public's interest is pulled to housing crisis by cowperthwaite
Oh and CPI was around 2% for years which is favorable to our nation and growth.
ExploitedAmerican t1_j8pcbvz wrote
Inflation statistics regurgitated by economics are a lie to protect the system from violent uprising. In 1970 it took 22 hours to earn an ounce of gold at minimum wage. Gold has retained its value for 2500 years. If you do the math in ancient Babylon it cost 1ounce of gold by modern weight standards to buy 350 loaves of bread. A sheckle bought 100-150 pounds of grain depending on the type of grain so if you do the math it equals 350 loaves to a Troy ounce of gold and today a quality loaf of bread costs $5-6 so I’ve ounce still buys 350 loaves. But it now takes between 125-250 hours to earn equal value. Minimum wage would need to be $84 to provide equal buying power as it did 51 years ago. Money was intentionally devalued to destroy the progress made by pro labor advocacy in the 50’s&60’s but the wages of the rich were adjusted for this meanwhile those doing the work have had the value of wealth produced by their labor looted so that a small select groups can live in extreme wealth. If you made $900,000 a day every day since Columbus landed in the Caribbean you wouldn’t be as wealthy as Elon musk who built his wealth on his fathers hand outs stolen wages from apartheid emerald miners
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