PeakTrader.com

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PeakTrader:

When the real minimum wage was above $8 an hour, roughly between 1960 and 1980, the teen labor force participation rate rose from below 60% to above 70%, and when the real minimum wage was at its highest level, in 1968, the unemployment rate for the country was 3.5%.

Chart - Teen Labor Force Participation Rate

http://research.stlouisfed.org/fred2/series/LNS11300012?cid=32449

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While Americans focused on the Zimmerman trial, economic growth has been deteriorating. We’re in our sixth year of deep recession-depression.

The first estimate of second quarter real growth will be reported July 31st (after 0.4% in the fourth quarter and 1.8% in the first quarter).

Second Quarter Looks Uglier and Uglier
Wall Street Journal
July 15, 2013

“The list of economic shops now estimating real GDP grew by less than a 1% annual rate last quarter include Goldman Sachs (0.8% as of Monday), Macroeconomic Advisors (0.6%), Royal Bank of Scotland (0.5%) and Barclays (0.5%).”

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Anderson Forecast: U.S. economy falls short of true recovery
June 05, 2013

“U.S. real GDP is now 15.4 percent below the normal 3 percent trend. To get back to that 3 percent trend, we would need 4 percent growth for 15 years, 5 percent growth for eight years, or 6 percent growth for five years, not the disappointing twos and threes we have been racking up recently, which are moving us farther from trend, not closer to it. It’s not a recovery. It’s not even normal growth. It’s bad.”

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“The War on Drugs is Plenty Racist?”

And, yet according to Carpe Diem three days ago:

“African-Americans constitute about 13% of the population, yet between 1976 and 2005 blacks committed more than half of all murders in the U.S. The black arrest rate for most offenses—including robbery, aggravated assault and property crimes—is typically two to three times their representation in the population.”

So, the war on murder, robbery, aggravated assault, and property crimes are plenty racist?

Maybe, we should allow Blacks to commit crimes, but not Whites, Hispanics, Asians, etc., or at least reduce the penalties for Blacks when they commit those crimes.

The message from Black leaders, since the Zimmerman trial, has been it’s OK for Blacks to beat up people, whether they’re Black, White, Hispanic, etc.. It’s just their way.

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Givemefreedom, you said:

“The results are clear that the negative impacts of the wars on drugs fall massively disproportionately on black people, in particular young black males. This is what makes the war on drugs racist.”

So, if welfare benefits are cut in half, that’s racist, because a disproportionate share of blacks receive welfare. According to you, if you just happen to be black, you’re more likely to collect welfare.

There’s never been a moral, legal, economic, or medical basis for your statements. It’s been all political.

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And, you talk about freedom. Getting people addicted to drugs, putting them in jail for violent and property crimes, and collecting welfare aren’t my ideas of freedom.

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Givemefreedom, your comment is racist. A Black baby isn’t born with a tendency to take drugs, commit murder, or collect welfare. It’s about culture.

You not only support choices that harm Blacks, you promote them.

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http://www.aei-ideas.org/2013/07/friday-afternoon-links-8/#comments

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