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Wage suppression is retarded, stupid, idiotic, moronic, inane and does not work.

In the short run, it does work as long as you suppress the wages through currency devaluation. In the long run you don't even need devaluation for it to work. But in the long run...

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Mon Feb 20th, 2012 at 01:29:24 PM EST
[ Parent ]
as long as you suppress the wages through currency devaluation

Well, in a currency union you have to find something else that works. Such as transfer payments.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Mon Feb 20th, 2012 at 03:26:32 PM EST
[ Parent ]
Starvid:
Wage suppression is retarded, stupid, idiotic, moronic, inane and does not work.

In the short run, it does work

reminds me of war...

both need heroic levels of social obedience. 'king & country' have morphed into 'deutschebank and goldman sachs'. as secular democracy is where state and church are brightlined apart, what is the word for a democracy that similarly firewalls financial 'orchestration' from legislature?

money is religion, after all... both promise heaven tomorrow and deliver hell today, (for the 99%).

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Feb 21st, 2012 at 10:32:21 AM EST
[ Parent ]

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