Education and glibness are not intelligence and wisdom. Which isn’t news to you guys. But (via InstaHoyt), the contrast has never been greater. The problem is finding a best example of imbecility is this sea of stupidity.
You see, the world needs our dollars because the world needs oil, and in order to buy oil, you need dollars, which means that the world needs to stockpile dollars, and that means that the U.S. can print all of the money that it wants without incurring massive hikes in interest rates to attract lenders.
For example, if you have universal healthcare, you don’t have to take a job just for the health benefits. If you have a generous Social Security program, you don’t have to invest in the market.
(Note to the easily offended—this the original, “Film Actors’ Guild” version.)
Non-braindead commenters cite Weimar hyperinflation, a perfect example of confusing currency for value. But the others still don’t get it. In this crowd, someone can be colossally wrong and still be the economic elite.
…an economy is exactly analogous to a thermodynamic system;
Uh-huh, because wealth and value can neither be created nor destroyed…er, except when people work to create value or amass it to accumulate wealth. But apart from being non-analogous, the two are exactly analogous.
This is the crowd claiming moral and mental superiority over us. And vertebrate humans still try to reason with them! Sorry. There is only one exactly analogous solution:
Actually, given the time of year, maybe there is one other exact parallel.