Escaped Wage Slave: Economics?

Monday, May 19, 2025

Economics?

Two men sit at a table. Both agree the chunk of gold in between them is worth 20 USD. One decides, and The Other accepts 21 USD and agrees to allow One to take possession. The gold is now worth 21 USD, a 5 percent increase of value caused by private contractual basis.

A Third man, known to both One and The Other, comes into the room and declares that the piece of gold is now worth 46 USD, a 140% increase of value just because he says so. To increase the value on a private contractual basis at the Lutheran 5% rate to recoup his original investment One has to sell that gold at 48.33 USD. If bought, One breaks even, and sets a new agreed upon precedent of value for the piece of gold. The Third man takes a clip on all resulting sales, ballooning the value of over-priced/over-valued gold. He also represents the protection racket that runs this financial hocus-pocus.

The original intrinsic value of 20 USD was based on the expenditure of capital and labor for a gold mining enterprise to exist. Management and maintenance salaries only exist because the pick axe and smelter did their job. If they didn't do their job, scarcity of gold would increase the value, but value based on labor (or lack thereof). The Third man gets his clip paid in humanity and starts a war to clean the table.

The Value of Something seems to be coming like a freight train without signals. It's 'relative', as in love, truth, beauty, honesty, accountability, decency, you name it. Value will soon congeal, and a can of Hormel Spam will sell to the highest bidder at an exorbitant price, challenging modern art in it's value. I can't just imagine what that 1927 Babe Ruth baseball card will be worth. My retirement fund is a digital Bitcoin. I bought a bag a tulip bulbs yesterday. It only cost me 10K USD. I got a deal.

Unable to buy anything, possibly people will re-evaluate what, who and how they value.

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Universal Income? It’s Already Here

By Kevin Brady

Universal Income? It’s Already Here - American Thinker

...Bernie wants even higher taxes at the top to fund even more benefits for everyone else. But how much higher? Should the top 10 percent increase their revenue contribution from 72 to 100 percent? If yes, the remaining 90 percent of the country will pay no income tax and they will all make roughly the same amount. This appears to be where Bernie is going, a true socialist paradise where the wealthy pay to flatten the rest of society -- all through the graces of a benevolent state.

Such a society would compress income, destroy mobility, and entomb a rigid class structure within the tax code. Such a government would strong-arm the wealthy and control the rest through state-sponsored enticements. Such a country is unhealthy, unstable, unviable, unbalanced, unjust and un-American.

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