“Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium.” – Fight Club
My neighbor has had a bad financial crisis. He has to drive a car without a top and his car doesn’t have a roof.
Monday’s post was about Forbidden Science. These are inconvenient truths that simply don’t fit into the ideology of a GloboLeftist. In the tradition of the very best GloboLeftists, whenever this inconvenient set of facts conflicts with their ideology, they do what rational people have always done – they consult how the facts disagree with their ideology and change their positions. Nah, just kidding. Instead GloboLeftists ignore them and stick their fingers in their ears and yell loudly “I’m not listening to you! I’m not listening to you! I’m not listening to you!”
Wednesday is the day I typically post about economics and related issues, so what better topic than Forbidden Economics? Just like on Monday, I’ll start with things that the GloboLeft actually believes and then make fun of them, primarily because they deserve it.
Me? I say bring back the positive power of bullying.
I was a bully to this orphan kid in school. I mean, it wasn’t like he was going to tell his parents.
GloboLeftists believe that Modern Monetary Theory isn’t just made-up justification for “I spend what I want”.
Modern Monetary Theory (MMT) has quietly taken the place of any sort of rational thinking. When I first wrote about it, it seemed so fringe and tongue in cheek that I was shocked anyone smarter than AOC would fall for it. I know, I know, that leaves about 85% of the country, but the GloboLeft has willingly and enthusiastically embraced MMT.
What is MMT? It’s the theory that, since money is entirely made up in the first place, that it doesn’t matter how much you print. Yes, you read that correctly. The idea is that money is like points in a football game. When a team scores a touchdown, there aren’t some vat of points that are decreased to add points to that team’s score. Instead, they’re made up. The limit to the number of points that can be scored in a game is based entirely on the productivity of the teams.
If we reset to zero every day and all played NFL® football, well, that might make sense. In MMT, the idea is that extra cash is just soaked up via taxation rather than the game ending.
What happens when the score keeps going up from game to game.
But the GloboLeftElite really, really don’t like to be taxed. As much as Warren Buffett complains that he’s not taxed enough, the one thing Warren never, ever does is send more than he owes in taxes in voluntarily. In fact, he has fleets of lawyers working every angle possible so that he pays the least amount in taxes possible. (Note: If Donald Trump were to try this he would be tried for felony tax evasion.)
There are two types of people in this world: Those who can find an answer through simple deduction.
This is not a new thing. It really started under W., and has continued through Obama, Trump, and Biden.
But what could go wrong?
GloboLeftists believe that women are cheated in the workplace, earning less than men.
I’ll start by reminding everyone that GloboLeftists don’t even know what a woman is, to the point that a sitting Supreme Court Justice was unable to define what a woman was during her Senate confirmation hearings, and sits on the Supreme Court.
However . . .
The reality is that women actually make more than men when their wages are controlled for things like, oh, career choice, amount of overtime put in, time taken off to have children, et cetera. The idea is so simplistic in that it takes everyone, puts them in a bag, and says that the average man makes X, and the average woman makes 0.8X.
Yes. That’s true. But when I went to a college graduation several years ago and they called out the engineers, 90% plus were men in some fields, and in no engineering field were women even close to a majority.
And they both give sound advice.
I wonder if that could be partially a reason for a pay difference?
Nah. Sexism is easier, and if people will swallow MMT, they’ll swallow anything. I mean, we already knew that about Kamala.
GloboLeftists believe that increasing a labor supply won’t decrease wages.
Immigration is an amazing source of brain rot for GloboLeftists. They think that bringing in hordes of illegal aliens won’t drop the price of unskilled labor. Now, not for one minute do I believe that’s the case, and neither do the people (the GloboLeftElite) that are feeding those thoughts to the rank and file.
But lower labor costs mean higher profits, so why not bring in not only illegal aliens, but tons of people on H1-B visas to take the jobs that Americans had – the number of stories of people showing up to work only to be forced to train their replacements to “earn” their severance package is so common as to be boring. It doesn’t even make the news anymore.
Yet the flip side is that they also don’t think that raising the minimum wage will have any impact on prices?
As found.
The last belief that I’m going to touch on that the GloboLeft has is this: history has nothing to teach us about the danger of an irreligious society basted in feminism and socialism.
Hey, wait, do you hear someone yelling “I’m not listening to you! I’m not listening to you! I’m not listening to you!”?
I’m sure it’s not just me. You can hear that, right?
Oh, and as a follow up to Monday’s post, here is NASA’s Administrator. He believes the far side of the Moon is always dark. Really.