3 EM 1 – 23/05/2022

The year 2010 is on the verge of recovering from the 2008 recession. There is a debate over the impact of 1980 and 2008 recessions that pulled down the US economy. For the consecutive three years from 1980 to 1983, the gross domestic product showed a declining trend.

If you haven’t yet made your move to start your own business and grow and protect your wealth, you need to get on it. President Obama and his liberal colleagues in the U.S. federal government are marching double-time toward their goal of fundamentally transforming America into a Land Of No Opportunity… and their flawless execution of government takeover that transferred a sixth of the U.S. economy from private to public sector (under the Orwellian label of “health care reform”) was only the beginning.

The November unemployment rate came in at a disheartening 9.8%, as employers added a mere 39,000 jobs in November. Friday’s paltry job figures fell far short of the consensus 155,000 jobs predicted by analysts. The 9.8% jobless rate represents the nineteenth consecutive month where the unemployment rate has been above 9%, the longest streak since such records have been kept. A quick review of the headlines in the Marketplace section of Thursday’s Wall Street Journal – the day before the release of the jobs report — gave ample examples of the job-crushing policies of the Obama administration, with its program of excess regulation, high taxes and Obamacare.

First, we are talking about wages and the standard government work week (40 hours). While we speak in terms of being able to afford housing on a monthly basis, it is important to understand that just as the Federal Minimum Wage (FMW) is an *hourly wage,* the ULW is also an hourly wage. What we are saying is that if one puts 40 units of work wage together, four times a month (four weeks in a month), that wage would be sufficient for a person to afford basic rental housing no matter where that person works throughout the United States. This may require that a part-time worker of 20 hours per week secure a second part time job of an additional 20 hours to accumulate 40 units of work, etc.

Modern society is organized on a financial or pecuniary level. In performing these major functions, one cannot escape the fact that money serves not only as an important but, moreover, an essential tool of economic activity. With good justification, our present economic system has been describe as a money economy.