“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.
Had a guy at work who bought a VW Jetta and went on an on about his gas mileage. So 3 of us took turns adding gas, got him up to 110 mpg. He became astounded that is until we stopped.
That is MMT
My friend would do that to his wife. She kept a log of the mileage, and every fourth week or so, he’d add some random number of gallons to the tank.
Genius!!!
Also as a followup to Mon GloboScience…
https://www.zerohedge.com/political/scientific-american-claims-it-misinformation-there-are-just-two-sexes
Scientific American is two lies.
There are two sexes, two genders, and everything else is a fetish.
They were selling this MMT jive when I was in Econ 101 at J.C., fifty years ago. Made no sense but I had it on the test.
That course taught me that Economics is profitable, self-serving mumbojumbo, kinda like Political Science.
It is mumbojumbo, and those yahoos have control of the economy, and all they believe in is the magick they used to conjure up dollars.
I’ll try to help Bill Nelson with what he should have said. “At the poles of the moon there are places that are always dark (down in some craters), which is why we want to go there, to see if there’s ice in the shadows. The far side of the moon gets light and dark just like the near side of the moon (except it never has lunar eclipses). It would be a quiet place for a radio telescope, shielded from radio signals from the Earth. We’ve flown over it many times (just ask Mike Collins!), and it’s not more interesting than the near side, and we’d need a communications relay to know what’s going on there.”
Pink Floyd set back planetary science by decades by talking about “the Dark Side of the Moon”, as if it was a permanent place, and not a temporary shadow.
Lathechuck
Bill is in over his IQ on this one. But he’s a GloboLeftElite member, so, I’m not surprised. Competence isn’t really their thing.
Yeah I think the PInkies were referring to something lunar that was metaphysical or spiritual. Not material.
“Modern Monetary Theory (MMT)”
You agreed w/ one of the lies the Leftists tell about MMT. Taxes do not effect inflation, at all. Inflation is the relationship between supply of goods and supply of money. Moving money around with taxes doesn’t change the money supply, just who has the money. Which isn’t related to inflation.
“GloboLeftists believe that women are cheated in the workplace, earning less than men.”
Best argument re: this- it’s irrelevant even if true. People don’t get paid based upon how much the bosses like them, or even on how much value they add. As the saying goes, “You do not get paid what you deserve. You get paid what you negotiate.”
If women get paid less, it’s because they put up with it.
“GloboLeftists believe that increasing a labor supply won’t decrease wages.”
No, that’s their theory. Real men work, create value, and that’s what an economy is. Gold is a great scorekeeper.
I’m not sure what you are arguing against.
Then I’ll stop. 🙂
NASA = Never A Straight Answer
Like, how’d they get that Moon Rover inside that small, flimsy Moon Lander? Then assemble it? “Oh DAMN!!! We don’t have a 10MM socket!!! But, our ESSO® Moon Map sez there’s a Lowe’s™ in a crater 1/2 mile west of here, thank Gawd.”
We really went to the moon.
The Earth is not flat. Nor is it carried on the back of four elephants standing on the back of a giant turtle.
Yes.
Likewise it is true that NASA, from its inception, has been an occult organization obsessed with Egyptian religion and neo-paganism. They don’t name their equipment and programs after prophets and apostles, last I checked.
I get that rockets and explosions are cool and The Right Stuff was a good movie, however JPL was founded by a homosexual luciferian (Rocket Jack Parsons) and a bunch of newly americanized Nazis. They didn’t mention Jesus much.
And the NASA Administrator will want to put people on the Sun. But we’ll go at night.
It’s well known that you can put folks on the dark side of the sun, as long as the sun is facing . . . ah . . . hold on a sec.
Lemme get back to you.
Yup, he’s caught in a trap. No way out.
John, I can remember the first few times I heard the concept of MMT. I was old enough that there was no sense of disbelief, only a bitter sense of “Well, this will become the dominant paradigm”. And here we are.
Except, of course, that we are not. The laws of economy cannot be ignored. At some point the world will simply give up on the US dollar and our management of it and we can become like Zimbabwe or the Weimar Republic, with scraps of paper and post-it zero’s added to them to sit in the collections of those that made better choices.
Don’t make me bring out Gods of the Copybook Headings. Because I will.
By Rudyard Kipling
As I pass through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all.
We were living in trees when they met us. They showed us each in turn
That Water would certainly wet us, as Fire would certainly burn:
But we found them lacking in Uplift, Vision and Breadth of Mind,
So we left them to teach the Gorillas while we followed the March of Mankind.
We moved as the Spirit listed. They never altered their pace,
Being neither cloud nor wind-borne like the Gods of the Market Place,
But they always caught up with our progress, and presently word would come
That a tribe had been wiped off its icefield, or the lights had gone out in Rome.
With the Hopes that our World is built on they were utterly out of touch,
They denied that the Moon was Stilton; they denied she was even Dutch;
They denied that Wishes were Horses; they denied that a Pig had Wings;
So we worshipped the Gods of the Market Who promised these beautiful things.
When the Cambrian measures were forming, They promised perpetual peace.
They swore, if we gave them our weapons, that the wars of the tribes would cease.
But when we disarmed They sold us and delivered us bound to our foe,
And the Gods of the Copybook Headings said: “Stick to the Devil you know.”
On the first Feminian Sandstones we were promised the Fuller Life
(Which started by loving our neighbour and ended by loving his wife)
Till our women had no more children and the men lost reason and faith,
And the Gods of the Copybook Headings said: “The Wages of Sin is Death.”
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: “If you don’t work you die.”
Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool’s bandaged finger goes wabbling back to the Fire;
And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!