Comments by "Kim O\x27Brien" (@kimobrien.) on "Major Companies Set $15/Hour Minimum Wage To Attract Workers Amid LABOR SHORTAGE" video.

@erikkovacs3097 That's not the way the bosses look at it. For them everything is about profit maximization. After all if they don't do that investors money will go elsewhere. This is why the capitalist system creates misery, poverty and wealth for a few. Its natural workings push the middle class into the working class and poverty.
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@OlJackBurton Look at how the price of gold has gone from $32 an ounce in 1973 to $1830 today. The price of gold was set in 1944 at $32 an ounce and back in the past it was around $23 . That is because they just print money and keep lending it out since if it came back to the federal reserve the whole worlds economy would collapse.
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@alandirigo2196 Wrong it was set by an agreement at the Breton Woods conference in 1944. American's were not legally to own it except for jewelry and industrial purposes for a whole period of time. That law was passed back at the beginning of FDR administration requiring everyone to sell their gold to the government at rising prices to deflate the dollar by 59% price of gold was set in 1900 at $20.67 by 1935 it was $35.00 and the $32 rate was lifted with the Nixon administration that ended the Gold standard because France wanted Gold for dollars. Prices rise as the Federal Reserve adds currency by loan when it sets the prime rate. In the past prices fell as the cost of production fell. To prevent profit rates going down the fed must deflate the dollars value by continually adding currency. That has the effect of raising property value in dollars and making wages worth less. That was the reason for setting the Nixon setting up the phony wage price board. Wages were held back in union contracts while prices were allowed to rise at the supermarket.
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@alandirigo2196 Well if other countries want gold instead of dollars that indicates the value of the dollar has devalued. The pound Sterling was pegged to gold by Issac Newton and stayed that way with a few exceptions until 1914. Remember paper money was original a receipt for Gold keep in a private bank in many cases. (The Bank of England was private at one time.) That's why the price was tied to gold. I think John M. Keynes was the one to come up with the idea that you could control the economy by printing paper money and lending it from a central bank. If you look at the Federal Reserve stats you will see that wages followed productivity until 1973 after that they have stagnated.
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Good time to go on strike and make the bosses pay.
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Who can afford to eat a $50 dollar meal?
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@erikkovacs3097 Well why do the most successful treat us the worst? I've worked for a "growing company" and conditions have just gotten worse and I was their 6 years. Of course they always say things are going to get better just like you but things get worse. They don't want anyone to work for more than a year now because it costs them health insurance. No one starts at anything above minimum wage. All you need to do is look the price of gold over time and compare it to wages since 1944 you see everything you just said is wrong. Wages stooped following productivity in 1973. Grows wealth? Only grows when you can make a profit but that comes to an end in industry as machines reduce labor time and capital value grows because then the rate of profit must decline since the profit comes from our labor. That's when you start making investments to drive up the price of fictitious capital value which then must collapse. Then to get things going again you must now keep adding money by the central banks because you insist that capital produces value. You've built a whole house of cards on fictitious capital such that your all afraid of the next coming collapse. Mountain of debt contacts and still buying up lots of worthless junk bonds to keep in Federal reserve vaults. Called quantitative easing. Refusal to raise the minimum wage. Now the federal reserve is making direct loans to companies because the private banks are afraid of taking a loss. Ya you system is working just great but sure Bezos is going into space where he says all the dirty energy production will go. Sure and I believe in the tooth fairy also.
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@erikkovacs3097 Capitalism is coming to an end because of its own logic. Just like feudalism had the seeds inside to produced capitalism. Capitalism has the seeds to produce socialism. But just like the end of feudalism becoming capitalism. It won't happen automatically. Feudalism came to an end when the ruling class became an obstacle to development. That's what the enlightenment and people like Thomas Paine figured out. Plus the property that John Locke talked about was not the same as Capital. Marx also looked over the whole history of human development and if you think your that smart or someone has successfully answered him well I've never read anything that wasn't just a lot of fables, lies, or personal feelings. Much like your writings. Sure maybe I'm not exactly correct but you are way off base. Did you ask for proof that a rocket could go to the moon before we built it? I can lead a horse to water but I can't make you drink. Growing wealth? Wealth for who? More ficticios capital? Absolutely correct! The system is set to maximize profit above all else Friedman justifies that. I and Marx have already show, along with empirical evidence if you care to research the classical economists, that profit must decline in industrial production as machines replace labor since the source of profit is our labor.
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@erikkovacs3097 Middle Class you mean those professor at Yale and Harvard and all the Government flunkies along with the media liars and the Non profit Philanthropic bosses. All the superstructure that consumes while producing nothing. The capitalist will give them the boot when they think they aren't getting their money's worth out of them. The rest of the middle class is driven into the working class. The independent boss now works as a company man for a bigger operation. The big like Walmart and Amazon battle withe each other and strong arm for better terms or take over their suppliers. Business is war and War is good.
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@born2bbald12 I understand how capitalism works. Your own accounting books prove everything Karl Marx wrote correct. Entitled well at 69 years old I receive a Soc Sec check that you capitalist want to take away to store as profit in a bank account somewhere. Debt is just another way for the capitalist to exploit the worker. He demands to be paid even more in the future the same way in which he exploits us. In some businesses the capitalist is paid before the workers are and in others they are paid after the workers is but the goal and success of the capitalist depends on always being paid more. The goal is maximizing profits and so maximizing exploitation. How to maximize profits well pay the lowest wage and charge the highest prices. Use monopoly tactics to beat the competition. Use government to advance an agenda to defend the rights of capital over labor. Keep people voting for the same people fighting for power and prestige in two parties of thieves.
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@born2bbald12 You want a foundation for my claims well read Karl Marx for yourself instead of asking me or someone else to explain everything to you like a child who can't do anything for himself. You lack any ability other than to point fingers and make noises like a child who wants a cookie but hasn't got the vocabulary to say baby wants a cookie.
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@born2bbald12 is a failed brain!!!
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@born2bbald12 I'm not interested in debating nonsense.
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@born2bbald12 In fact why don't we start with that you explain why people think the earth goes around the sun and how they discovered that instead of just accepting the common sense that the sun goes around the earth. I'll play the pope and you have to convince me otherwise.
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@lacha608 The capitalist gets rich by use of capital and number theory. It works much like a gambling casino. Gamblers take most of the risk Casino takes the least. Gambler goes home with empty pockets. Casino puts money in the bank. If you play black jack a new and better number theory was discovered that you can use to beat the casino so the casino made card counting illegal. Casino's have pictures, and names of known card counters to keep them out of the Casinos instead of getting rid of the Black Jack game. Same reason capitalist will never get rid of capitalism it makes them rich no how much better socialism could work for the majority.
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@born2bbald12 Like I said you don't yet have the cultural level to explain even the why some of the simplest common sense notions are wrong so why would you understand anything I say. At least explain why the earth is not flat without telling me its round or why a 16 th century mariner common sense would tell him to sail away from vision of the shore wouldn't get him hopelessly lost? If I tell you the capitalist doesn't work to earn his money but makes it by ownership and number theory are you going to understand enough about numbers to follow the argument or are you going to tell me I'm wrong and he earns his money?
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@kevinodom2918 Bosses can't move a factory without workers. Plus they can't move that fast. We have stop giving into Boss blackmail. Plus we need to help workers to raise wages in the poor countries by opposing military aid to those countries especially the dictatorships like Saudi Arabia.
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@erikkovacs3097 Free market capitalism ended a long time ago with the domination of the big banks and the federal reserve system. One side the capitalists has the power to set the price of commodities. Our economic power is in combination into trade unions and a labor party independent from the two boss parties to challenge the capitalists politically. .
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@whatevergoesforme5129 Capitalist prefer the corrupt union or the ones lead by leaders who can't win a strike. They didn't like Socialist Workers Party and Minneapolis Teamsters Local 544. That why the bosses concocted a frame job with the Smith "gag" Act. Capital produces nothing why shouldn't a former capitalist work for a wage? As Farrell Dobbs said, "You can have anything your big enough to take." No reason to abusive if it wasn't a dog eat dog system based in competition. A system based in continually raising the cultural level of the working class and cooperation will allow an increase in the forces of production because capitalism is working against that now.
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@whatevergoesforme5129 Corruption comes from capitalism as the system runs on the logic of greed. The labor aristocrats are the corrupt like the Social Democrats and the Stalinist. People who's ideas and method Lenin and later Trotsky argued against. Just ask all the neo liberals from wall street "Greed is Good." You can as MR nice guy but that is not the way you "get ahead". Business is war and War is good. A single shoemaker if their is even such a trade even left (capital replaces higher paid labor with machines and lower paid labor first) is a worker with his own tools. Once he owns a shoe factory he isn't. Modern business requires the services of banks who are the most parasitic of all capitals. Their demands for profit drive the small into their direction or else. Its eat or be eaten for the small business and every 7 to 10 years a feeding frenzy takes place. Why because of the crisis of overproduction, the ability to produce more than can be sold at a profit, takes place. Whole industries stop operating, workers are thrown out of work and out of their homes. The bosses announce they are going bankrupt and need to cut wages. Sound familiar? It should it keeps happening and it keeps getting worse. So how was it solved in the past well WW1 and WW2. The destruction of capital to restart primitive capital accumulation. Each crisis can only end when enough capital has been destroyed. Of course no individual capitalist or capitalist class want to lose the war for markets.
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What would be wrong with that?
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@YourMom-cu8yt Well the capitalist don't see it that way. Higher wages are a drag on profit rates. They want profits and we want higher wages. We produce the profit and the surplus value when we work. The unpaid labor is the source of the profit and surplus value and the bosses own accounting books prove that. That is what the class struggle is about a fight over who gets and controls the profit and surplus value. The rate of profit tends to decline as machines replace labor in production because the capital value increases while the labor in the product the source of profit declines.
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@born2bbald12 Karl Marx to the long view of human history and put political economy on a historical materialist foundation. What would you like me to try and explain? All the Great Marxist were both revolutionary leaders and thinkers like Engels, Lenin, Trotsky, Fidel Castro and Che. It doesn't make them infallible but they all wrote on what they were doing and debated their opponents. Their is a rich literature they left behind after their deaths.
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