I Smell Third World Quality Bullshit:
Here are total U.S. jobs (pop. adjusted) and total wages (% of GDP) both heading down at the same time since 2000. But that can't be true - lower wages equals more jobs, right? (Yes, but the jobs are all in China).
ORIGINAL POST [Nov. 28th, 2013]:
Happy Thanksgiving aka. "Black Thursday"
Happy Thanksgiving to everyone, but especially to those who have to work the holiday just because there can't be one day in the entire year when the Idiocracy isn't able to buy a fucking xBox.
I've been reading all of the latest garbage spewing forth about the "minimum wage" debate, rife with self-interested junk logic spewing from the frat boys. You would think that bankrupting their own country by shipping the economy overseas would have been enough. But now they have to pound nails in the coffin by slamming every single proposal put forward to lift American wage slaves from poverty. Neither history nor the enraged mob will be kind...
A Zero Dollar Wage aka. Third World Mentality
It's amazing the number of businesses that can turn a profit when the wage is zero. I just read this garbage article on ZH, stating that a higher minimum wage would dampen prosperity and lead to increased unemployment.
So here we go...
Q1: Which of these countries has the highest minimum wage?
http://www.businessinsider.com/a-look-at-minimum-wages-around-the-world-2013-8
...And...
Q2: Which of these countries has a higher minimum wage AND lower unemployment than the U.S.
http://stats.oecd.org/index.aspx?queryid=36324
Unemployment Rate by Country
Q3: In which country does the Middle Class have the most wealth?
It's amazing the number of businesses that can turn a profit when the wage is zero. I just read this garbage article on ZH, stating that a higher minimum wage would dampen prosperity and lead to increased unemployment.
So here we go...
Q1: Which of these countries has the highest minimum wage?
http://www.businessinsider.com/a-look-at-minimum-wages-around-the-world-2013-8
...And...
Q2: Which of these countries has a higher minimum wage AND lower unemployment than the U.S.
http://stats.oecd.org/index.aspx?queryid=36324
Unemployment Rate by Country
Q4: How much are wages as a % of GDP in the U.S.?
Answer: Lowest in recorded history
Q5: How much are profits as a % of GDP?
A: Highest in recorded history
A: Highest in recorded history
Q6: Which country has the highest Third World Multiple?
Average Wealth Divided by Median Wealth by Country:
More Collapse-o-Nomics
The mickey mouse chart below which is referenced in the above link is at the heart of this morally and intellectually bankrupt fiasco. It's the type of specious theory that derives from the econo-dunce textbooks which would easily fetch twice their price if printed in four ply and sold as ass wipe. Apparently raw facts like the ones above are not sufficient to wean frat boys from their billionaire bukkake whore theories. So below, I will take a swing at the bogus theory behind this fiasco...
First off, on the downward sloping supply curve. So apparently those who earn lower wages, work less ? Therefore all of these people who hold multiple part-time jobs and work extra hours to get overtime, and those who get two weeks of vacation per year, they are a figment of my imagination? Unfortunately, in the real world, when people have lower wages, they work more hours not less. It's called survival or otherwise known as "making ends meet". It's something that everyone in the real world knows about, but is of course a totally alien concept to overpaid MBA frat boys who are totally out of touch with reality. Now, look up, at the chart above showing minimum wage. Do the Chinese making $.80 per hour, work less hours? Give me a fucking break.
Now, on to the Demand side...
This textbook supply/demand chart above is what is know as a "static" model. It's a snapshot. Being that it's static it neglects the fact that if people who make low wages receive an increase in their salary, then they would have more spending power and hence more "demand". This would have the effect of shifting the demand curve to the right hence leading to lower unemployment, which is clearly something the Aussies are intelligent enough to figure out. Or, put it in a way that even econo-dunces can understand - the marginal propensity to spend is higher for those on minimum wage than it is for billionaires, shockingly, despite the mega-yachts and McMansions.
Over-confident Buffoons Running Amok
The irony that the author of the article is from Canada which has universal health insurance, a higher minimum wage and lower unemployment than the U.S., didn't escape me. He must look around his own country and think wow if only we had more billionaires here and a lot less of these minimum wage types sucking wealth out of the system, then everything would be perfect. This chart below could have ended this pathetic argument at the top of this post. This shows that in 2008, the Canadian unemployment rate crossed under the U.S. unemployment rate for the first time in my lifetime - 45 years. Pathetic. We are surrounded by buffoons, game show hosts, sociopathic frat boys and other assorted amoral creeps in every fucking direction:
