Fast-food workers in walkout to protest low wages

[dorminWS]

I try my best to keep a little of that yankee money on hand. Try breaking down after quitting time on Friday in a spot that ain't close to home, and you'll appreciate the things you can get done with it. Bubba usually don't take plastic.

[dorminWS]

This Is What Would Happen If Fast-Food Workers Got Raises


http://www.businessweek.com/articles/20 ... gn_id=yhoo

[dorminWS]

If the traditional unions are able to use this tactic to tack 25% onto the cost of fast food and Walmart crap, the workin' man in this country will be well and truly screwed.

http://www.moneynews.com/Economy/Unions ... de=14633-1

[GeneFrenkle]

Correct me if I'm wrong, but:

- There was precious metal that had value because it was rare (relatively?), hard to get, and people like shiny things
- Later on, there was paper money that represented precious metal because that stuff was hard to tote around
- Later, later on, there was paper money with no precious metal backing. It had value because of decree.
- More recently, we have electronic money backed by paper money, making it even easier to carry around
- We'll have electronic money backed by electrons only and will have value because some database somewhere keeps track of a number.

I wonder how much more ethereal money can get. We're a the point where a few bytes are fungible.

[Reverenddel]

Ever hear of "BITCOINS"? Go google it... THAT is how ethereal funds can become... No country, no metal, no paper, just "trust".

[GeneFrenkle]

Yup, absolutely I've heard of bitcoins. Granted, it's "electronic money", but the value comes from the difficulty in mining the coin, the limited number of coins that can be mined, and the repudiation aspect. It's back to "rare, hard to get, shiny" things. I'm more referring to what banks, debt cards, and the Congressional Budget Office work with.

[gunderwood]

Correct me if I'm wrong, but:

- There was precious metal that had value because it was rare (relatively?), hard to get, and people like shiny things
- Later on, there was paper money that represented precious metal because that stuff was hard to tote around
- Later, later on, there was paper money with no precious metal backing. It had value because of decree.
- More recently, we have electronic money backed by paper money, making it even easier to carry around
- We'll have electronic money backed by electrons only and will have value because some database somewhere keeps track of a number.

I wonder how much more ethereal money can get. We're a the point where a few bytes are fungible.

There is a difference between money and currency. Money has physical backing, currency has always been based on trust, even when the currency was representing physical assets. How did you know that the gold note was actually held in reserve by the issuer, etc?

[GeneFrenkle]

Got it. Never thought about the distinction. Good points.

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[Reverenddel]

FOR THE WIN ON GUNDERWOOD!

Never thought of it like that... but that's a VERY good reasoning structure.