Joe and I go back to my place and speculate as to what the deal was. We both decide it must be some Russian community club or centre, which isn’t odd; the city we lived in had a lot of immigrant communities from all over the world. It was weird though that there wasn’t a woman in the entire joint and there was very clearly one guy in charge. A couple of weeks later I am in one of the seedier drinking holes in my neighbourhood that often hosted a number of the local Hell’s Angels members, a few of which I was on speaking terms with.
They are grown adults, you really dont have any rights to tell they where and where they cannot go. Protecting the household is important yes, but to treat your grown children LIKE children is rude and inconsiderate on your part. So no they in fact do not need your permission. At the very least median wages must keep pace with inflation. But I’ll make the outrageous comment that median wages must not just keep pace with inflation, they must also keep pace with productivity. When more product is being produced per capita, that product must be sold, or it will not continue to be made. Increased product being made and sold means that more spending in inflation adjusted (real) terms must be occurring. Real spending is really a measure of the amount of stuff being made and sold, (all compared to an anchor year).
So this means that if we have increased productivity causing increased production when comparing one year to the next, then it is logical to conclude that we have increased Inflation adjusted spending. Increased inflation adjusted spending means that nominal spending has increased at a rate faster than inflation. Now if median incomes do not keep pace with inflation plus productivity, if median wages only keep pace with inflation, then that means over time larger and larger proportions of the income resulting from the increased productivity is going to the wealthier income earners. And that is not a stable situation.
It IS reasonable to assume that most of the amount of spending increase must come from the masses, meaning that group of people whose average income tends be close to the median income, must be the ones paying for most of the extra production. And after they borrow to max, and use up all their savings, unless their incomes are keeping pace with inflation plus the rate of productivity increase, their spending will have to slow, meaning the extra production will not be purchased, so eventuallly if it doesn’t sell it will not be produced and this will lead to JOB LOSS, and decreased total income, further decreased demand, decreased production and economic depression.
I was at the beach with my then 2 year old son. We had been enjoying the day together. I was sitting in my beach chair and he was quietly playing in the sand with his toys.. It was getting time to go, and I was gathering up our things….then realized that somehow my wedding ring had slipped off. I had been all over the beach, walking my son in the waves, etc. I was absolutely panicked. I dug and dug all through each grain of sand around us. Nothing. A few young boys asked what I was looking for and if they could help. I told them, and offered a reward for anyone who found the ring.
One of these fellas sidles up beside me at the bar to shoot the shit and I tell him about my New Years Eve adventure. He asks which door specifically I went in. He asks me to describe the appearance of the old guy that was in charge, I do. He chuckles a bit and tells me Joe and I were treated to our drinks by The Godfather of the Ontario Russian Mafia who was in town for the week for some meetings. My acquaintance then strongly counsels me to never walk through that door again.