The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Obama’s Underpants Gnome Economy

Posted on | December 5, 2013 | 73 Comments

Remember the infamous business plan from the South Park episode?

  1. Collect Underpants
  2. ?
  3. Profit

Say hello to the president’s economic theory:

It would be an insult to readers to explain why this won’t work, but I will say that in my adult lifetime, every increase in the minimum wage has been followed within a year or two by a recession. Drew M. at AOSHQ endeavors to address the flaws in Obama’s idea, but it’s depressing to think that any adult can’t figure out why raising the minimum wage inevitably causes an increase in unemployment.

And speaking of depressing things to think about, we’ve got 9 million people on disability, 15% of them for mood disorders!

Mood disorders! More than a million Americans are currently collecting a check every month because they feel sad.

It that’s not enough to make you fly into a manic rage . . .

The Declaration of Independence speaks of “the pursuit of happiness” as a natural right, but we can’t re-distribute happiness, can’t we?Nevertheless, we’ve got 1.3 million people getting disability payments for mood disorders, and Medicaid pays for their happy pills.

If that’s not enough to drive you crazy, try this:

House Minority Leader Nancy Pelosi (D-CA) on Thursday said Democrats would not support a budget deal that does not extend emergency unemployment benefits, which are set to lapse on Dec. 28 for about 1.3 million people.

Right: We must spend more money we don’t have to pay people not to work and WE ARE SEVENTEEN TRILLION DOLLARS IN DEBT!

OK, so now that you’re in a frothing bipolar rage, hurry to the nearest mental hospital and get diagnosed: Obama-Induced Mania.

There’s a lot of that going around lately . . .

 

 


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Comments

  • http://unix-jedi.livejournal.com Unix-Jedi

    $50? If that’s good, $500 would be better!

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  • http://proof-proofpositive.blogspot.com/ Proof

    Raising the minimum wage causes people to lose their jobs or work reduced hours. This leads to prosperity only in cases of unscrupulous politicians who lie to keep their jobs.

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  • archonix

    I feel it eorthointing out that a minimum wage wouldn’t be necessary if the government and the fed weren’t constantly dicking with the apparent inflation rate. It keeps wages depressed, while costs rise in reality.

    UK government does the same. Bloody liars, the lot of them.

  • theBuckWheat

    The smartest people in the room endorse this. But one question. If we are better off as a society when fast food workers are paid $15/hr, how much better of will we all be if we pay them $15,000/hr?

  • https://twitter.com/fit4posts Fit Forpost

    It’s vote buying with your (and borrowed, thus your heirs’) dollars.

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  • cmdr358

    You got that right! Vote buying pure and simple. To the Dems it’s a win-win.

    If the legislation passes, it’s “look what we did for you” despite GOP resistance.

    If it fails, it’s “we tried to help you but the GOP resistance was too strong.”

    If the former happens they get votes and the economy is screwed again, if the latter happens they get votes and the economy gets a chance to recover.

    Either way they get what they care about most of all- reelection and it’s not their fault.

  • MPH

    I read an article recently which discussed why they won’t just index the minimum wage to the median wage, resulting in automatic minimum wage adjustments. It’s because they KNOW doing so would cause hyperinflation. They also KNOW that doing it they way the do it still adds to inflation, and damages the economy, but it lets them present themselves as protectors of the poor, who they say companies would pay $0/hr if it weren’t for the minimum wage. Alas, there are a sufficient number of voters who are either too stupid, or too ignorant (thanks to government schools), to realize the lie for what it is.

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  • Neo

    If the “1%” are the problem, perhaps we should end “1%”-ers on the public dole.
    The growth of “1%”-ers in recent years has been in and about the immediate DC metro area.