[Update]Amazon institutes $15 minimum wage for all US employees AND eliminates monthly bonuses and Stock Grants

[Amazonsucks]

1 minute ago, leadeater said:

As defined by the parameters you are using which were created by people in market factors not here. Tbh I'm not really arguing against your point, it's just that financial wealth is not so easily defined and universally applied across every country, one size fits all is typically deeply flawed.

Sounds like youre making a case against what you and @mr moose were just claiming about Aus "more wealthy" then. If youre going to take all the factors into it, you could argue that the data he cited are incomplete because they dont take into account cost of living, purchasing power of the currency both domestically and internationally. The list could easily go on. 

 

 

[leadeater]

5 minutes ago, Amazonsucks said:

Yeah i guess some people already forgot 2008 and the house flipping real estate bubble that popped already. We area species with amnesia though.

Wasn't a big problem here, we didn't get a full on market dive in property values. They fell a bit but it was mostly a cessation of rising for a few years.

 

5 minutes ago, Amazonsucks said:

The completely off topic point about calculating real estate holdings in "wealth" when this thread was about income and financial issues? Ok then.

Well I will say it again, real estate here is a big factor in wealth. As much as one would like to disregard it here it is important, equally so as stocks and bonds are for where you are. So for me if you want to exclude that then you might as well exclude stocks on bonds.

 

For someone who doesn't actually live here it's probably too hard to understand why.

[mr moose]

4 minutes ago, Amazonsucks said:

The completely off topic point about calculating real estate holdings in "wealth" when this thread was about income and financial issues? Ok then.

 

Yeah i guess some people already forgot 2008 and the house flipping real estate bubble that popped already. We area species with amnesia though.

If you want you can take the best estimates for the average US wealth ($400K)and add the average US house price to it, but I sincerely believe you'll still come up short on the average of Australia.   No matter how you spin it the difference is there.

 

 

[SpaceGhostC2C]

8 minutes ago, leadeater said:

As defined by the parameters you are using which were created by people in market factors not here. Tbh I'm not really arguing against your point,

Yes, I'm aware we agree on the major and are merely refining the details  

 

Quote

it's just that financial wealth is not so easily defined and universally applied across every country, one size fits all is typically deeply flawed.

No, that's what I'm trying to say here, it is relatively easily defined (you just need to be careful with country-specific assets, like 401k accounts, etc, so you capture the same concepts). The reason they label it "financial net wealth" is because they follow the standard definitions used to decompose wealth. It's based on asset types, not on people's intentions (hence whether I buy a house to live in it or to speculate with its price doesn't change which category it goes to). It's not a Merriam-Webster definition, it's a technical one: I read "net financial wealth" and I immediately know what's included and what's excluded, without ambiguity, I don't even need to check the text for definitions, and that's why they report it like that.

Then using it to conclude what's quality of life like here or there is a different story, but the data itself is "clean".

[mr moose]

2 minutes ago, leadeater said:

Wasn't a big problem here, we didn't get a full on market dive in property values. They fell a bit but it was mostly a cessation of rising for a few years.

 

Yep, Hardly a blip in realestate prices here either.  

[Amazonsucks]

2 minutes ago, mr moose said:

 

OMG, do you need it spelled out?

 

The report you linked does not include realestate assets.  These assets make up the majority of Australian wealth, they are as financially relevant to personal wealth as stocks or bonds.  You are trying to argue I was wrong by using incomplete data. Now you are trying to argue that I somehow didn't read it. Leadeater has pointed it out I have linked to it.  ABS is not cherry picking its data,  it is the best data in Australia on Australia.

Yes but it still paints an incomplete and biased picture. For example, it doesnt take into account just who is buying up all the real estate in your country does it?

 

https://www.therealestateconversation.com.au/news/2018/02/14/chinese-account-one-third-australian-development-site-sales-2017-knight-frank

[mr moose]

1 minute ago, Amazonsucks said:

Yes but it still paints an incomplete and biased picture. For example, it doesnt take into account just who is buying up all the real estate in your country does it?

 

https://www.therealestateconversation.com.au/news/2018/02/14/chinese-account-one-third-australian-development-site-sales-2017-knight-frank

and even more

 

I wish there was a good shrug shoulders emoticon because it doesn't matter what I say or what the facts are, you are just going to keep banging on about some shit or another. 

[Amazonsucks]

1 hour ago, mr moose said:

and even more

 

I wish there was a good shrug shoulders emoticon because it doesn't matter what I say or what the facts are, you are just going to keep banging on about some shit or another. 

Oh the old "accuse the other guy of doing what you actually do" tactic. Where have i seen that before?

[SansVarnic]

0k, this discussion has turned into a debate in semantics... really guys its derailing the topic.

[Guest]

On 10/8/2018 at 11:08 AM, Arika S said:

I'm not sure how i feel about this.

 

On one hand a higher minimum wage is good...but at the expense of benefits if not great.

 

They should give their employees the option for what suits them best

1. higher wage, no benefits.
2. Keep the same that they have

$15USD/Hr is HUUUUUGE. Working at Amazon is nothing for what I have to do to get similar pay. If people don't take those jobs at Amazon then I gladly will for any number of hours.