Friday, May 13, 2011

99% of economists are whore

Our academia economist are bunch of hopeless prostitute. I was corrupted in my mind when took A level economics. By the time when I was around 30s, I then realized  that our economics curriculum inculcate pandering rich and justify the economics oppression system. I am going to elaborate a few items below.

The Iron Law of Wages 

In short, this law states real wages always tend toward the minimum level necessary only to sustain the wretched life of the worker.

This law is rubbish. To make "Iron Law" seem true, the economist advocate creating unemployment. The "unemployment is a must theory" is coined under the name 

Natural rate of unemployment.

The economist fear-monger that full employment is bad as it creates inflation. But then everyone knows that "inflation is always and everywhere a monetary phenomenon" ( Milton Friedman ). In another words, central bank and government is the culprit of inflation and the people has to pay the price.

The elite always has an interest in creating unemployment even if economy is blooming. Full employment will cause firm competing for labor resulting to increase in wages.

In USA, the official policy is to put 5% of the people out of job. God will definitely not judge these elites kindly for their cruelty in destroying life of the peasants.

Consumer Demand Sustained by Debt rather than High Wages  

Have you wonder why government tries so hard to put people into debt. Even if the people are discipline, the government takes up sovereign debt on the behalf of people.

In the environment of low wages, the rich is going burst because no one is going to buy their wares. The only way to perpetuate this low wage game is by debt.

But ultimately, a tipping will be reached when all good collaterals are gone. Next, the debt ponzi will go burst. That will bring everyone down.

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