What can happen when the government leaves the free market alone...

[Jim in CT]

Lots of people in North Dakota are exploiting the oil deposits. Here are the wages at WalMart there.

Could there be a lesson here?

[spence]

Has nothing to do with leaving the free market alone, it's all about a boom cycle and nobody around to support the workers.

-spence

[Jim in CT]

Originally Posted by spence

Has nothing to do with leaving the free market alone, it's all about a boom cycle and nobody around to support the workers.

-spence

It's a unique situation to be sure. But the "boom cycle", which is benefitting a lot of people, happened because the feds decided not to choke it, like they so often do. If the feds would get their boots of the throats of the free market, we'd see more boom cycles in other places and industries.

We need regulation, no doubt. But there's such a thing as too much.

[spence]

Originally Posted by Jim in CT

It's a unique situation to be sure. But the "boom cycle", which is benefitting a lot of people, happened because the feds decided not to choke it, like they so often do. If the feds would get their boots of the throats of the free market, we'd see more boom cycles in other places and industries.

We need regulation, no doubt. But there's such a thing as too much.

There's a dark side to production as well. The infrastructure in ND isn't scaling fast enough to meet the needs of the growing population. Crime and other bad elements are increasing. It's not going to last forever...then what? Bust...

It also looks like ND is trying to slow production because of the waste. 36% of the natural gas being produced is being flared off because the oil has a better profit margin. This impacts both the environment and taxes that aren't collected on the burn off.

Other states with shale oil seem to have tougher standards because the fields are closer to large populations. That part of ND is pretty empty...

But if a 17/hr wage at Wally World epitomizes the glories of capitalism for ya, hey, have at it.

-spence

[Jim in CT]

Originally Posted by spence

There's a dark side to production as well. The infrastructure in ND isn't scaling fast enough to meet the needs of the growing population. Crime and other bad elements are increasing. It's not going to last forever...then what? Bust...

It also looks like ND is trying to slow production because of the waste. 36% of the natural gas being produced is being flared off because the oil has a better profit margin. This impacts both the environment and taxes that aren't collected on the burn off.

Other states with shale oil seem to have tougher standards because the fields are closer to large populations. That part of ND is pretty empty...

But if a 17/hr wage at Wally World epitomizes the glories of capitalism for ya, hey, have at it.

-spence

"But if a 17/hr wage at Wally World epitomizes the glories of capitalism for ya, hey, have at it."

Mocking something that leads to more income equality, and a better quality of life for those at the bottom, because the source happens to be an industry that your side doesn't look favorably upon.

All that matters to you is politics. Not facts, not cause, not outcome.

liberal = good
conservative = bad

We all get it.

Big of you to mock the abiloity of Wal-mart workers to earn th etyps of wage that your hero claims to advocate for. But if a red state gets there first, it must be dismissed.

[spence]

Originally Posted by Jim in CT

Big of you to mock the abiloity of Wal-mart workers to earn th etyps of wage that your hero claims to advocate for. But if a red state gets there first, it must be dismissed.

Two important points:

1) Cost of living is insanely high up there. 34 grand a year isn't going to go far unless you've got a lot of roommates

The North Dakota town in the midst of an oil boom is rapidly growing, seeing its population double to 30,000 since the 2010 Census. The average rent is $2,394 a month for a 700-square-foot, one-bedroom apartment, according to numbers released by Apartment Guide. That beats New York's average of $1,504 and L.A.'s $1,411-a-month tally for comparable space.

Read more: http://www.nydailynews.com/life-styl...#ixzz34LqQ9D83

2) Your example is an anomaly and not an example of long-term free market grown wealth.

North Dakota will be like Qatar trying to figure out how to turn the quick money into a long-term economy.

-spence

[buckman]

Much of what Spence is describing sounds like government shovel ready jobs. Take the Big Dig ..big boom . lots of corruption and then nothing for what was spent .
At least Spence gets to fly around on jets burning lots of fuel to pay for the fuel that keeps his family warm
Posted from my iPhone/Mobile device

[Raven]

free the hemp
better than cotton
total farce making it illegal
plains states would flourish