I have been getting heat from people who want me to relax my strident antipathy to the proposed hike in the minimum wage, which will make business costs go up, which will make prices go up, which is what the low-wage worker is complaining about to start with!
So let me be as forthright as I can be when I say that I pity them, and the essential message of the Mogambo Guru newsletter in the first place is to object loud and long against the creation of excess money and credit, which will prevent inflation, which will prevent this suffering from inflation from even happening.
But, and hopefully conveying all the venom and contempt that I can muster, I have no compassion for the damned poor or the middle class, who have consistently used their massive electoral power to consistently elect socialists, communists, fascists and morons to every elected office in the land, and it is these lying, brain-diseased politicians who have spent us into the economic grave, as has happened every other time in the last 3,000 years when a government, any government, tried such monetary crap. So it is not like this is anything new.
And so, given the stark lessons of the sheer tonnage of the last 3,000 years of history, it is obvious that government constantly growing, and especially by constantly deficit-spending to accomplish it, is suicidal stupidity writ large, and we also learn that allowing unfettered growth in money, credit and debt is suicidal stupidity writ large. Thus, the behavior of Americans is inexcusable, as it bespeaks a nation of ignoramuses and lunatics, and the historical fate of such persons, and their brain-dead countries, is always bleak. Very, very bleak.
And it has to be the poor who first suffer the coming avalanche of pain, as they have no cushion against it. But as more and more people become poor, and poorer, as prices continue to rise faster than wages, then this cohort will collectively soon have the sheer physical clout to violently overthrow the government and arrest the treacherous politicians (a la the French Revolution) and Federal Reserve numbskulls who have gotten us into such a wretched, miserable state, which is how Mother Nature instills in future politicians and citizens the reluctance to commit the staggering, unbelievable economic idiocies that we Americans have been blithely committing for half a freaking century.
-- Mogambo Guru
Are we sure he's the angriest guy in economics? I just don't see it, personally...