France is burning

[John Eppstein]

Apparently over an increase in the cost of Diesel fuel.

In between the death of HW Bush and the ongoing soap opera around Rump and gang it doesn't seem like anybody on this side of the Atlantic has really noticed.

What is this world coming to?

[Rev. Juda$ Sleaze]

Yeah, just saw that an 80 year old woman died after being hit with a tear gas canister whilst closing her shutters. A handful of other deaths over the past couple of days.

Worst riots site '68. Looks like the government might not last much longer.

[nobby]

Apparently over an increase in the cost of Diesel fuel.

In between the death of HW Bush and the ongoing soap opera around Rump and gang it doesn't seem like anybody on this side of the Atlantic has really noticed.

It's been in the headlines.

Apparently the gov't raised the fuel tax, and the fuel taxes in Europe are very high as it is. It's a regressive tax that hits people who have to commute, and people have had to move away from Paris due to the high cost of living -- sound familiar? -- as well as people in rural areas who don't live close to anything.

This cuts into people's disposable incomes and keeps them on a short leash that way, adding to their frustration.

I imagine it must be bad for business also because if you're a business, people have less money for your goods and services.

[upstairs]

I imagine it must be bad for business also because if you're a business, people have less money for your goods and services.

Yes, and the cost of your entire supply chain will rise. Fuel affects quite literally every expense in the modern world. This brings me to another question which has been nagging me: higher minimum wage, bad or good?

Raise minimum wage: cost of living is stupid high, millennials are living with mom & dad for a reason; large corporations really can afford it
No raise: most lower jobs are already understaffing as much as possible (in my experience and everyone I've talked to, at least), automation looms; small businesses operate on very slim profit margins and will get squeezed out, further leading to a dystopian future of starbucks, mcdonalds, and 20 mile wide costcos

[Rev. Juda$ Sleaze]

Millennials aren't living with their parents because of the minimum wage, nor because of immigration, legal or not.

It's happening because of the concentration of capital. The post-war period was an economic anomaly that everyone presumed would go on forever. Capital doesn't flow that way.

They're living with their parents because their parents invested in property to make income from the rental market. This caused an upward spiral of house prices, at a time of wage stagnation.

[upstairs]

Millennials aren't living with their parents because of the minimum wage, nor because of immigration, legal or not.

It's happening because of the concentration of capital. The post-war period was an economic anomaly that everyone presumed would go on forever. Capital doesn't flow that way.

They're living with their parents because their parents invested in property to make income from the rental market. This caused an upward spiral of house prices, at a time of wage stagnation.

You make a good point there. I deleted part of my post that you responded to, as it was a bit silly in hindsight (beerposting frankly )

[John Eppstein]

Millennials aren't living with their parents because of the minimum wage, nor because of immigration, legal or not.

It's happening because of the concentration of capital. The post-war period was an economic anomaly that everyone presumed would go on forever. Capital doesn't flow that way.

They're living with their parents because their parents invested in property to make income from the rental market. This caused an upward spiral of house prices, at a time of wage stagnation.

Wrong. It's not really middle class Americans investing in real estate that's the problem - it's out of control investment in US real estate by foreign actors, many of them of a rather shady nature. Many, if not most developed countries have laws regulating the percentage of foreign investment allowed in their real estate. Not so the USA - which has turned our real estate market into a haven for money launderers and shady investors who intentionally hold properties off the market in order to force up prices.

It's concentration of capital all right - it's just not concentrated where you seem to think it is.

[Rev. Juda$ Sleaze]

Millennials aren't living with their parents because of the minimum wage, nor because of immigration, legal or not.

It's happening because of the concentration of capital. The post-war period was an economic anomaly that everyone presumed would go on forever. Capital doesn't flow that way.

They're living with their parents because their parents invested in property to make income from the rental market. This caused an upward spiral of house prices, at a time of wage stagnation.

Wrong. It's not really middle class Americans investing in real estate that's the problem - it's out of control investment in US real estate by foreign actors, many of them of a rather shady nature. Many, if not most developed countries have laws regulating the percentage of foreign investment allowed in their real estate. Not so the USA - which has turned our real estate market into a haven for money launderers and shady investors who intentionally hold properties off the market in order to force up prices.

It's concentration of capital all right - it's just not concentrated where you seem to think it is.

Ah, I wasn't talking about the US but the UK.

Though that is still a big problem in London which spills out to surrounding cities as locals can't afford the house prices.

https://www.ftadviser.com/investments/2 ... llennials/

[John Eppstein]

Well, the flames appear to be out for now but there are still pretty extensive beds of hot embers just below the surface.