"The US Economy -- Explained!"

Misaki

Senior Member
Jul 8, 2011
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(http:/economistsview.typepad.com/economistsview/2011/07/fall-into-the-gap-forever.html)

"The argument that we are on a permanently lower growth path is an argument that there's nothing we can do, nothing we need do, and nothing we should do (except, perhaps, measures such as sharing the jobs we have more broadly). This is the new normal and you may as well get used to it."

An analogy (aka a lie):

Jens, Kirsten, and Niloufar constitute an economy. It doesn't matter what they make. Each sells to the other two.

Enter William, who sells iPods. Jens wants an iPod, so he starts buying less from Kirsten and Niloufar. Eventually he has most of the money in the economy, and buys an iPod.

William now has most of the money, Jens has an iPod but no food, and Kirsten and Niloufar are selling less than half what they used to (mostly to each other).

Now, they could all reduce their prices to prevent Jens from starving to death, but they are too stubborn since after all it's Jen's fault no one has any money, and if he wants food he can make stuff for them (which they can buy only slowly because most of the money is gone). Anyway if they did lower their prices, they'd never get their money back from William after Jens gave it all away.

But William just likes collecting money, and only spends what he needs to survive... and before he completely runs out, Kirsten decides she needs an iPod too.

^ You are invited to ponder the solution to that situation before proceeding.

***
Yay I love replying to my own comments. For those who don't know how to fix this simple economy of four persons: make Jens, Kirsten, and Niloufar all do some of the work of assembling iPods, so William has more time to spend money and has to pay the other three to make the iPods that they want to buy.

Again, http:/pastebin.com/Q86Zhgs9 except people think companies are doing badly so the correct action is to reduce average wage for full-time work, but give the option to work part-time at the original wage **which is an offer which should be taken disproportionately more frequently by those working at profitable companies making iPods**.

FACT: A girl in China offered her virginity for an iPhone.
http:/sg.news.yahoo.com/blogs/what-is-buzzing/hungry-apple-chinese-teen-girl-offers-virginity-white-165212298.html

http:/www。whitehouse.gov/contact/
 
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FACT: A girl in China offered her virginity for an iPhone.





There's a place you've got to go for learning
all you want to know about the facts of life
the facts of life.

When books are what you're there about
and looks are what you care about
the time is right,
to learn the facts of life.

When the world never seems
to be living up to your dreams
it's time you started finding out
what everything is all about

When the boys you used to hate you date,
I guess you best investigate
the facts of life you gotta get'em right
the facts of life,
the facts of life,
the facts of life

Seasons 2-5
You take the good, you take the bad,
you take them both and there you have
The Facts of Life, the Facts of Life.

There's a time you got to go and show
You're growin' now you know about
The Facts of Life, the Facts of Life.

When the world never seems
to be livin up to your dreams
And suddenly you're finding out
the Facts of Life are all about you, you.

It takes a lot to get 'em right
When you're learning the Facts of Life. (learning the Facts of Life)
Learning the Facts of Life (learning the Facts of Life)
Learning the Facts of Life.

End Credits
You'll avoid a lot of damages
an enjoy the fun of managing
the facts of life;
they shed a lot of light
If you hear them from your brother,
better clear them with your mother
better get them right,
call her late at night

You got the future in the palm of your hands
all you gotta do to get you through is understand
you think you rather do without,
you will never make without the truth
the facts of life is all about you




 

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