Science of Economics
Let me here state my position clearly.
There is no merit in the pseudo-science of economics ... whatsoever.
And that is what America is ... economically speaking, it is most certainly dead ... only the perfumed lies they spray into the air keep you from smelling that rot.
Let us proceed to lay out the evidence of their deception
1) The complete and total lack of productivity increase in America in the past few decades. In fact, productivity has plummeted to unprecedented lows.
To disguise that collapse, economists measure everything in terms of dollars rather than is what actually counts ... the number of hours worked by each citizen to maintain the civilization. On paper, they show you charts and numbers which say you are much better off now than ever before. But the horrible fact is that in the 50s, the mother stayed home with the kids and dad went to work 40 hours per week. They had a modest house, a used car, a TV and a phone. Now, mama works 40 hours as well as dad and ... what extra do they have to show for it? The freaking Internet? That's about all ... oh yeah, they have a cell phone with which to call home to tell the kids that they won't be home for dinner ... just "nuke" some frozen burgers kids, love 'ya.
But, it's not only the fact that people now have to work twice as many hours to maintain civilization ...
2) It's what they do in those hours that reveals most.
Today our work is primarily clerical. We push pencils ... keeping track of physically meaningless minutiae. I would applaud the pushing of a pencil if it were tracing out the design of a new, safe nuclear power plant ... or the design of a new, productivity increasing machine ... or, the equations of a new theory of recombinant DNA ... or, well you get the point. We should come to a point where we do nothing but think and design and do art and sports, etc. But we don't ... we flip burgers. The Chinese do our steel mill jobs ... and we do burgers. That's productivity increase?!
Gone are the steel mills, fabricating plants, chemical factories. Economists will point to those remaining and say, "They are still here". Sure they are. (You KNOW where they are now ... China, Mexico, Brazil, etc.)
Ask yourself this. What is the advantage to our civilization of importing from the other side of the planet raw or finished products that we could get here far more easily? The only answer is "cost" ... the old dollar shill. Remember, the only artifice available to the economist is numbers. Physical reality is antithetical to his "cause" (deception). He cannot get 'round this point. There is no reason to ship something from the other side of the world ... unless ... that commodity is unavailable here.
Then why, pray tell, do we get them from so far away ... ???
3) We get our staples from China because they have been made immensely cheaper through the counterfeiting of money by the Federal Government. Clearly, if there were no counterfeiting, we would run out of money buying things from abroad and our wages would fall so low that our products would compete with the Chinese ... regardless of their low pay.
Then, the money we spent abroad would come back to buy what they could now afford from our side. If no counterfeiting occurred, any dislocation by way of "trade imbalance" would correct itself automatically. Instead, it goes on forever with no sign of abatement.
Do you think this is not happening? Then ... why does a car that cost about 1800 dollars in 1960 now cost 12,000? If there were the same number of people and the same number of dollars available, the car would cost the same. Since there are many more people ... if the dollars stayed the same ... we should see a corresponding decrease in the cost of that vehicle. Get it?
But if there is this terrible "trade imbalance" ... our dollars have ostensibly left the country, so ... the cost of the vehicle should have gone down even more since there are less dollars to go around.
On the economists side, they would claim that the "velocity of money" (really, how fast we work ... or how "productively" we work) has increased so as to increase our wages ... thus, the price of the vehicle has risen ?! In fact, productivity does not increase our wages ... it increases someone else's profit (the owner) ... i.e. when was the last time you got a productivity wage increase? I mean a huge increase on the scale of 1000% in the past few decades?
You can get more money by working more jobs ... or hours. But our hours have only doubled if you account the women in the workforce as essentially doubling that workforce.
No, there is only one way to account for the massive increase in the costs of things ... inflation ... which is ... the counterfeiting of money by the Federal Government. They do it through the banks and some of it is that huge pile called the National Debt.
4) Credit card Debt
No economist will seriously discuss this but ... there is about a ten year lag effect when something big and gradual is done to the free market. It "self-adjusts" to just about anything the government does so as to re-assert itself. There are only a few things it can't totally adjust out. Here are some examples.
If a tax increase is levied against one group of people, say, the rich ... after a time you will find that the rich still live in the style they were accustomed. They don't lose anything ... they just juggle prices and costs around so that they can still have enough money (after paying the larger tax) to live the way they want to live.
On the flip side ... if you have a minimum wage increase ... there is no way for the free market to completely adapt to it. Observe, that if you give someone a dollar (who had none before), you have increased his percentage from nothing to finite, i.e. no matter what price adjustments are made, the dollar can never again become 0%. That dollar can only be "marginalized" by vastly increasing the take of those who before were getting something but did not receive the special dollar increase.
The "adjustment rules" applies to credit card debt. When the economy adjusts to "ready credit" ... prices go up because you are willing to pay a little more ... because you can always put it on the "plastic" ... temporarily (sure). What happens is that the free market adjusts to this "extra cash bonanza" as though an infusion of money occurred (a type of inflation). Now, after a decade or two, you can no longer get by with just your wages. You need the credit card to make ends meet ... because practically everybody is using it, thereby driving up prices on top of that caused by the outright counterfeiting of money by your government. Those who have bad credit are really in deep doodoo. They have to seek ... an extra job (in addition to those already held by both mom and pop.
To answer the above, the economist will say ...
1) Productivity has increased dramatically because the charts show this clearly.
The goal of economists is the same as that of priests ... to get a free ride through life on the backs of others without the necessity of thought. They think (after their own fashion ... making up charts, graphs and a few equations just as priests haggle over the nuances of religious "ornaments") ... all the while being revered as important, contributing members of a thriving civilization. They have a vested interest in keeping you blind as a bat ... just like priests and clerics.
Then use your radar, batty!
And while you're at it ... read the whole damn thing