* I’m always amazed at the notion that the demographic with the lowest measured average intelligence, educational, financial and career attainment at the same time has a deep and abiding grasp of history and politics that dictates their 95%+ univocal voting pattern. People who are so easily suckered into payday loans, rent-to-own consumer product agreements, “predatory mortgages” and all other manner of obvious swindles are somehow born with an innate sixth sense for which politicians have their best interests in mind.
Occam’s razor dictates that these people are easily (mis)led and vote for tribal reasons and direct supplies of gibs payments.
* As I made clear in my future-Nobel prize winning piece earlier this month, the basic unit of value in any economy is the lifetime wage required to sustain the worker in a useful, productive, comfortable lifestyle. Anything less results in externalities that must eventually, somewhere down the line, be paid. Nothing’s free.
For example, once you factor in the degradation of China’s ecological landscape, the social poverty created by their soulless housing for their workers, the psychological anguish created by their ruthless labor practices and the reality that the Chinese worker can’t afford to buy what he makes, then it becomes obvious that there is no escape from my formulation of the Iron Law of worker lifetime/lifestyle value.
Henry Ford had it right. If the workers can’t afford to consume what they manufacture, then the economy will limp along at less than optimal capacity. This puts a nation on a downward spiral of searching for ever cheaper labor which will tolerate ever worsening lifestyles–exactly the trajectory the USA is on today. The only way such an economy “grows” is to enlist ever more desperate suckers.
My formulation results in a steady state economy that expands in an orderly progression in which demand balances supply. It is autonomous and doesn’t parasitize its neighbors.
I have provided the essential Idea. I leave it to the technicians, the economists, to work out the details. Contact the NSA for my real email and identity and the address to which you may send my Nobel.
