Gregory Selbe

Electrical engineer, father of 3 successful adults.

[Gregory Selbe @GregoryASelbe]

Wages have shrunk to a small fraction of what they were in 1965, when the minimum wage was $1.90. Gold was $35 per ounce then, $2700 per ounce today. The richest 20% of the population in 1965 held 40% of the wealth, today 63% of all wealth gets pushed to 1% of the population.
Only capitalism, with the right guide rails, can reverse the trend. And the only guide rail that can reverse our economic tendency to push 63% of all wealth to 1% of the population, (as shown in the link below), is to significantly increase minimum wage laws, like a nationwide $25/hour minimum wage. The USA did this before, without knowing it: In 1965 the minimum wage was $1.90, while gold prices were $35/oz. Today gold is $2,700/oz. So, in today’s money a $50/hour minimum wage would be smaller than the $1.90/hour minimum wage of 1965. To give an example, in 1955 my dad married his High School sweetheart, then in 1965, with blue collar wages and 4 kids, (one parent income), purchased a brand new 4 bedroom house in Orange County California. If everyone could possibly lose their ridiculous negative assumptions about minimum wage laws, then today’s young people could afford the same standard of living that the boomers’ parents enjoyed. Significantly higher minimum wage levels will NOT increase prices. Because market forces will instead push profit margin to Small Business, from Big Business.

Here is the explanation:

1.Yes, Small Business & Retail fear that they cannot afford a $25/hour minimum wage law. Everybody incorrectly assumes that. But that’s based on the incorrect assumption that each Small Business/Retail store stands alone.

2.However, each Small Business is not alone. A region wide minimum wage law puts all Small Businesses and Retail in the region, into the same predicament. That shared predicament gives all Small Businesses in the region leverage against Suppliers up the food chain, (Big Business).

3.This is because Big Business cannot afford to, or allow Small Business to fail. This cannot happen. It is impossible.

4.Factories and production lines will not be allowed to waver. In addition, the products being manufactured will not be allowed to go unsold.

5.Products will be delivered to customers. Millions of employees will be paid to accomplish that.

6.Therefore, Big Businesses Suppliers will have no alternative but to lower prices to Small Business and Retail outlets.

https://t.co/vZSVxZ3ooY 63% of all wealth created by employees doing their jobs is being pushed to 1% of our population - the owners and shareholders of Big Business. Therefore, Big Business has more than enough money to pay all the costs of the minimum wage increase.

8.Since millions of employees working at or near minimum wage receive a significant pay raise, the Small Businesses and the Big Businesses in turn get millions more customers with money to spend.

https://t.co/W8Rgu5QWeU

[Gregory Selbe @GregoryASelbe]

@Sassafrass_84 Sad that the “intelligent” people miss the one and only reason that half of our population votes for candidates selling destructive Democrat policies. Wake up. Please.

[Gregory Selbe @GregoryASelbe]

@atensnut Iren.

[Gregory Selbe @GregoryASelbe]

@3dPrintMaven @CynicalPublius Makes sense to me. Hopefully, the original culture will take back their country.

[Gregory Selbe @GregoryASelbe]

@CynicalPublius Yes, I know what you feel.

[Gregory Selbe @GregoryASelbe]

@CynicalPublius Exactly.

[Gregory Selbe @GregoryASelbe]

@CynicalPublius Barack’s dim arrogance did one good thing.

[Gregory Selbe @GregoryASelbe]

@WallStreetMav Cruel irony.

[Gregory Selbe @GregoryASelbe]

@SUBRATA30016572 Very happy to see this news.

[Gregory Selbe @GregoryASelbe]

@CynicalPublius Wow. Impressive.

[Gregory Selbe @GregoryASelbe]

@PatriotXV11 @libsoftiktok Capitalists are mistakenly earning less profit from our economy than possible. That is the only thing causing poverty, homelessness and the plight of the working poor.

[Gregory Selbe @GregoryASelbe]

Profit seeking capitalism can become loved & appreciated throughout the world when “intelligent” people accept that significantly higher minimum wage levels will increase profits & eliminate poverty, homelessness, the plight of the working poor, and even soften some of the slightly scary religious enthusiasm we see lately.

[Gregory Selbe @GregoryASelbe]

@WallStreetMav Economic experts have some fundamentals completely wrong. Specifically, wages are way too low, while Tax&Spend policies are way too high. No. Other. Explanation.

[Gregory Selbe @GregoryASelbe]

@GuntherEagleman The elites of the world have pushed people too far.

[Gregory Selbe @GregoryASelbe]

@Mcclainseanm @elonmusk @TheChiefNerd Government overspending, high taxation & counterproductive government programs are huge problems. How can people believe that they explain the magnitude of inflation such that $35 in 1965 bought an ounce of gold, while today it takes $4,500 to buy the same ounce of gold??

[Gregory Selbe @GregoryASelbe]

@GuntherEagleman Plus, Byron Donalds will be available after his time as Governor of Florida.

[Gregory Selbe @GregoryASelbe]

@Mcclainseanm @elonmusk @TheChiefNerd Read with interest your explanations involving the thing economists call, “inflation”. I agree that it’s super important, but I see it differently. I see inflation as a symptom of something else.

[Gregory Selbe @GregoryASelbe]

Glance at the symptoms to see how well our version of capitalism is performing. Voters judge how well the free market works for them, and then react by electing far Left politicians who enact ever increasing & destructive Tax&Spend policies at the City & State level especially, and in nearly half of federal House & Senate seats. Mamdani and Bass seem comfortable with socialism. We’re kidding ourselves if we believe our economy is based on profit seeking capitalism, the way it was in the 1960s.

[Gregory Selbe @GregoryASelbe]

But abundance is limited to all customers’ ability to purchase stuff. In 1965 a guy with a mediocre job could provide a brand new 4 bedroom house, groceries & utilities for a stay at home wife and 4 kids. (I saw it). Young people today know they have a small chance for the same thing, because they are being paid in extremely devalued money: in 1965 $35 to an ounce of gold, in 2026 $1,450 to the same 1 ounce.

[Gregory Selbe @GregoryASelbe]

@KerryHolmekb Important facts. Very grateful.

[Gregory Selbe @GregoryASelbe]

@hashjenni Colorful language oft proclaims important nuance.