Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

A shift manager at a McDonald’s restaurant in Kansas City, Mo., asks why a company that earned $5.3 billion last year can’t guarantee paid sick leave for all of its workers. https://t.co/5AWIY3UORc pic.twitter.com/u1YgHy1rNC

— New York Times Opinion (@nytopinion) March 22, 2020

https://www.youtube.com/watch?v=gR9gm_Pi1sE

[rufus]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Drama, philosophy. Ithaca Double Deuce

Double Deuce, you say?

https://www.youtube.com/watch?v=OEAirziWdfo

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

No you dont. You know enough about economics to not sound as ridiculous as Priceless does. We dont allow Hipsters and Faux Socialists to live in my head...your kind arent welcome

Plus admit it, you thought it was funny when Clown called you the "Cornell Drama Major"

It was a lot funnier then either of you know. I had an independent major in Playwriting.

[Handyman]

It was a lot funnier then either of you know. I had an independent major in Playwriting.

Of course you did...

[mookie1995]

Because it's more important for shareholders to get their dividends.

Didn't anyone besides mookie watch the Michel keaton ray Kroc movie?
Mc d restaurants are franchises. The Corp is a re company. They buy the land and lease it to the franchisees - that is where they make their haul.

Now would it be perhaps good pr for Corp to help out?? Maybe.... but they really have no say one way or the other.

[mookie1995]

It was a lot funnier then either of you know. I had an independent major in Playwriting.

Scene 1: highly educated gov employee, female PhD at a cocktail.party chatting with friends and colleagues gestures towards awkward husband at buffet overloading plate with chicken wings..

Phd: take my husband, please.

Cast: (laughter)

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Didn't anyone besides mookie watch the Michel keaton ray Kroc movie?
Mc d restaurants are franchises. The Corp is a re company. They buy the land and lease it to the franchisees - that is where they make their haul.

Now would it be perhaps good pr for Corp to help out?? Maybe.... but they really have no say one way or the other.

Yes, I did. And you're correct about McDonalds Corp basically being a real estate holdings firm (except for the company-owned stores). Where you're wrong is your assertion that they don't have a say in how those stores are operated. They might stay out of the day-to-day affairs of flipping burgers and counting the beans (unless a franchise is doing poorly), but corporate still wields a lot of power.

[geezer]

Scene 1: highly educated gov employee, female PhD at a cocktail.party chatting with friends and colleagues gestures towards awkward husband at buffet overloading plate with chicken wings..

Phd: take my husband, please.

Cast: (laughter)

This is wonderful. 😂👍

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Scene 1: highly educated gov employee, female PhD at a cocktail.party chatting with friends and colleagues gestures towards awkward husband at buffet overloading plate with chicken wings..

Phd: take my husband, please.

Cast: (laughter)

Very nice.

[geezer]

Yes, I did. And you're correct about McDonalds Corp basically being a real estate holdings firm (except for the company-owned stores). Where you're wrong is your assertion that they don't have a say in how those stores are operated. They might stay out of the day-to-day affairs of flipping burgers and counting the beans (unless a franchise is doing poorly), but corporate still wields a lot of power.

Are the McBeans on the dollar menu? I missed that one

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Are the McBeans on the dollar menu? I missed that one

They might be very soon.

[Rover]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Scene 1: highly educated gov employee, female PhD at a cocktail.party chatting with friends and colleagues gestures towards awkward husband at buffet overloading plate with chicken wings..

Phd: take my husband, please.

Cast: (laughter)

I tip my cap to mookie's brilliance!

[St. Clown]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The Fed does not "make" or "lose" money, it's just an organ of monetary policy. It buys or sells bonds to inject money into (or withdraw it out of) the private economy. And most famously the Fed can also change the prime rate which is supposed to accelerate or brake the velocity of money as it flows through the economy by making lending more or less attractive. As the economy speeds up inflation can rise but growth increases and unemployment drops. It's a balancing act. (Lately all that really seems to happen is large entities horde and the plebeians are f-cked.)

The Fed makes money. As of 2000 it had never lost money on its operations. I can’t speak for the past 20 years. Ignore the Cornell drama major’s response.

Banks pay the Fed for its depository services, which are mandated as one of its FDIC functions, and can help control the money supply but to change it would be a very aggressive tool.

To go into this with a proper keyboard...
Banks are required to keep a Reserve Requirement of deposits, and they're officially stored at the Fed (even if it's only via a ledger account these days). The Fed sets this ratio (the reserve ratio), and charges a bank for storing this cash, like old savings and checking accounts back before the free personal accounts began to appear back in the 80's or 90's. The ratio concept was established during the Great Depression, and since adopted pretty much by central banks worldwide. The fees associated with these reserve ratio deposits fund the Fed. How the Federal Reserve uses these fees are determined entirely by the FRB, and any "fees in excess" (officially not called a profit) are turned over by the Fed to the US Dept. of Treasury to help fund the US Federal government.

The reserve ratio is usually kept around 10%, but has gone up and down over the years. These changes are rare as they have HUGE impacts on the economy. This all goes into the money multiplier equation as a whole. The effect can appear in multiple portions of the equation, including the velocity of money portion if done incorrectly.

[Deutsche Gopher Fan]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

.@SenWarren on stimulus stalemate: “This is not a bipartisan proposal, this is a Republican-only proposal at this point, and it creates a slush fund for the big guys and no help for workers and no help for hospitals, and I don't see how the Democrats can possibly support that. “

— Kimberly Atkins (@KimberlyEAtkins) March 22, 2020

[Deutsche Gopher Fan]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Goldman Sachs: GDP might drop by 25% in second quarter

Fed Reserve President Bullard: Hold my beer

'US unemployment might hit 30% in Q2 because of coronavirus shutdowns, and GDP might drop by 50%.'

That is not with the "if Congress does nothing" caveat.https://t.co/hOyvjd4uPO

— Josh Jordan (@NumbersMuncher) March 22, 2020

For some horrifying historical perspective, the unemployment rate in the Great Depression peaked at 24.9%.

And the US didn't hit that point until 1933, after nearly four years of a steadily worsening crisis. If we actually hit 30% right off the start, it'll be absolutely brutal. https://t.co/dMGCUqmZ7c

— Kevin M. Kruse (@KevinMKruse) March 22, 2020