Tuesday, October 14, 2014

How to Tell if Someone Doesn't Understand Economics

"A rise in the minimum wage is the most horrible thing there is! These people need to improve their skills and get better-paying jobs!"

Half the people in this country have IQs of less than 100. They aren't going to be "improving" their skills to get better jobs. The government destroyed their high-paying, blue-collar jobs long ago, mostly by exporting them.

The only thing left for such people to be A) be cannon fodder B) life-long welfare C) "Would you like fries with that?"

I am consistently encountering people who think they understand economics, but don't. They praise Wal-Mart and McDonalds as paragons of the free market when both are gigantic tax-money welfare whores.

They have no comprehension half the wealth in this country is located in the Washington DC/New York/Boston corridor, and got that way because of the War Between the States, which was not about slavery but tariffs the North imposed on the South. But they think it was about slavery.

By the way, Lincoln was a brain-damaged, chronically depressed homosexual who admitted he gave his wife (who died in an insane asylum) and his son (who died from it) syphilis.

They have no comprehension that Bill Gates, who is a criminal disguised as a nerd, is a major criminal. As that old saying tells us (said by several people), "Behind every great fortune is a great crime."

And Carlos Slim free market? Please.

Velocity of money? What's that? Not a clue. Inflation transferring wealth from the middle-class to the obscenely wealthy, and therefore destroying the middle-class? Huh?

Corporations as legal persons and are therefore above the law? What?

Bankers and corporations controlling the government?

Yet all they know is the minimum wage.


Anonymous said...

Great concise post. Sure I will take my 100 IQ and clerk job and upgrade my skills in engineering and stem..I will also catch passes from Tom Brady. I am tired of the top 10 percent's trope.

Anders said...

People who blindly worship Capitalism thinking Walmart and Mcniggers are paragons of the free market obviously never played the board game Monopoly as kids... and if they did, the meaning of it when right over their heads.

sth_txs said...

I agree with your overall thesis, but the other issue that is never addressed whether it is those single digit percentage of minimum wage earners or the middle class is the corrupt federal reserve devaluing the purchasing the power of what we are forced to use as money.

Then there is media and institutionalized stupidity. I watch the Nightly Business Report sometimes, and some of the stuff said on there boggles the mind. 2% inflation? Inflation is necessary? A federal government shutdown is bad for the economy? You mean we have a Soviet economy without the material shortages? Makes my eyes roll.