A very stupid broker I once knew used to say “I am making lateral moves” to the boardroom, whenever he did a bunch of trades. Keeping with that comedic tone, I swapped out of some of my RPTP and tripled my position in AREX.
With the polar vortex freezing the noses and feet of America, I am bullish on natty here and less bullish on biotech hand grenades, in light of the risk off environment. In other words, take the bounces to reduce risk.
UPDATE: I sold out of the remainder of my BALT.
If you enjoy the content at iBankCoin, please follow us on Twitter
Why not SD?
Maybe a few lazy folks will get off the public dole now. Any data suggesting that higher minimum wage translates into less welfare?
Curious\
HIgher wages demand higher skills in order for them to make economic sense to an employer. When wages are raised artificially, a rational employer will look to obtain greater value from that employee. In the case of no-skill minimum wage earners, that generally means laying off enough of his fellow workers, or increasing his productivity some way.
But with regard to self-motivation to make that leap…. well…. there will probably some that will have it. The rest will simply take the easier way out and get on the hand out line. This is all human nature, of course.
Sigh.
_____
those who once worked 40 hours per week shall now work 35 or less
on the Brighter side?
The CapeRape will bring tons of newly sacked ChinaWhite buried deep in Hull sections back to ‘Merica, thus creating a kazillion or so part-time sales jobs
The only circumstance in which I could really see raising minimum wage increasing employment is because it becomes more economical to higher 4 foreigners at $2.50 since hiring 2 Americans at $5 is no longer available, as opposed to hiring 1 American at $10 an hour as you are suggesting. Doesn’t help domestic employment, but globally it theoretically could.
If the minimum wage hadn’t been kept artificially low for the last 2-3 decades the govt budget for various sources of welfare wouldn’t have ballooned to it’s current level as a % of the budget … govt safety nets have become corporate subsidies shifted to the tax payer. A reverse redistribution of wealth if you will!
Was offered a promotion this past fall which came with a 2 dollar per hour raise and 6 more unpaid work hours a week. Manager told me to consider it was more of a lateral move. I kindly declined the comical offer.
up +3.5% for the day @moment