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Obama's Former Chief Economist Has Some Words Of Encouragement For US Workers
The minimum-wage-hiker-in-chief will not be happy this morning. Former Obama administration economist Alan Krueger has some choice words for the hope-filled living-wage seekers of America:
- *KRUEGER SAYS WORKERS NEED TO 'RATCHET DOWN WAGE EXPECTATIONS'
Isn't it odd how quickly the views of ethical economists change once they have tenure and the shackles of government-servitude are removed. We don't remember hearing Krueger arguing that a 'fair' wage is a little much to expect in the current environment.
It would appear Mr. Krueger should stop being cynical and just get hopey.
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He's a hunk, of shit.
Just another shitbag in Obama's War Criminal Administration.
Freddie Kreuger: "Cut" your expectations
Why have wage expectations when there's no job expectations.
Unless of course you've just walked across the southern border, then the jobs all yours Juan.
He's right. What do slaves need wages for?
The arc of slavery moves east to west. When labor in America became too expensive it moved to to China, now labor in China is considered too expensive so they produce incresingly bad products in Africa,maybe the Africans will cut us off a bit of work in a decade or so. Forward comrades! We need to work to afford stuff.
What could be better than to be able to re-live your youth?
I am looking forward to the tie-dye sheets on the windows, the frameless waterbed on the floor, cinder block and 2x4 shelving and the bean bag chairs.
I am breaking out all the old vinyl (some Lou Reed and Hendrix to start) and the old Sansui amp, Dual Turntable, and large Advent speakers.
No work, no cares except to protest the war..
and the grass is legal this time around!
Got any spare change for hope?
Lol awesome post...so true
The guy in the picture looks like he has a dead animal on his head.
Except that this time a case of the munchies will cost you a week's pay at minimum wage.
+1 from me though. This is economic cannabalism. The middle class is being gutted because it is the logical next step from the perspective of those who would like maintain power.
Arc of slavery - surely you would include dependency on government.
Jobs for the sand fleas? Fuck me, mate! They're on a full time all expense paid vacation in a luxury resort!
http://houston.cbslocal.com/2014/08/01/immigrant-detention-center-has-ha...
What about America's Homeless?
There not homeless there there campers yeah yeah that's the ticket
This douche also answers to Captain Fucking Obvious
He says to "Ratchet down wage expectations."
My son is in college. When the African American kids want to tease one of their own about being too "ghetto" they say, "that is so ratchet." "Drank" is "ratchet." Multi colored hair in odd styles and certain clothing styles are "ratchet," but it even extends to things done poorly, or in disrepair, "That car is sooo ratchet." Kind of like how us whites might refer to other whites as being "so trailer trash" or ''white trash" more generally.
So yeah, ratchet down your wage expectations...
This economy is sooo ratchet...
I think thats ebonic for "wretched".
Yes.
It's cultural.
i think its spelled...ratshit....
Yep... you beat me too it!
"Cut your expectations" is based on "The Weakest Link" game.
Plan accordingly: Make sure you're not the weakest link. Better still, Be the Game Master, and you control the fate of its participants. Best of all, decide which games you will and won't play, and join those who seek to "replace" the current Game Masters - the 0.01%.
I thought it was Obummer's New World Order cabal.
He started out, outside the cabal
He was subsumed as a useful idiot
He has greatly embarrassed the cabal with his incompetence
He has fucked up their plans, which they will spend additional time resurrecting
He has been ostracized by the cabal
He was always a El See Eye A doh cutout like his "mom" who worked with Geithner's dad at The Ford Foundation aka a See Eye A front.
You expect wages, this jobs not for you!
You think we made of money?!?! We already feed ya boy!
http://www.bizjournals.com/washington/blog/2013/12/dc-far-outpaces-natio...
Damn these people have stones!!
I used to wonder if these guys are stupid or evil. I've settled on evil. No one with half a brain can believe that there is a basis for the real economy to support higher wages when it has been obvious for years that the printed money is going (by design) to the .01%.
And had the nerve.. unmitigated gall today to say we need infrastructure money... again. Not stupid, mission driven and on point and target.
o that is
Wages were once upon a time what Americans worked for.
The Free Shit Army doesn't work, doesn't want to seek work and probably won't work. Ever.
The end.
By the "Free Shit Army" I assume you reffer to Fortune 500 CEOs, Poliricians, Public Saftey workers and Hedge Fund managers, right?
NihlistZero - Correct. The fish rots from the head down. There memo is "bootstrap yourself up" when in reality is "fuck you I got mine." This cycle of course leads to very ugly things like world wars until the pain reaches the ivory tower then some sensibility is restored after they lose family members to such.
Of course, those bright and innovative enough to "bootstrap up" are now deemed criminals. Fred Bastiat "The Law" is a great 150 page read on how the world really works and it ebbs in cycles thankfully bringing a little relief too in this world. However, this is the cycle of the robber or what I call the Dark Carnival. Excess from producers draw predation from robbers in evolution.
You know I asked my Mom if the Vietnam protests ended the war. She said "No. It was when politicians were no longer exempted from the draft."
Welcome to how the world really works. You can have a decent quality of life in good times and bad but be prepared to educate yourself to the rules of evolution of the jungle. Slowly, we are rising above it and that is happening quicker these days as in decades verse centuries. However that still is a LONG time when one lives 80-90 years. Whack off and be destitute or use that computer to educate. Hmmm, think I'll keep educating myself. Besides, masturbation physical or emotional is so droll...
America: Lower your expectations and you'll never be disappointed. If you start to get disappointed, lower them some more.
The US is beginning to resemble a dive bar at closing time.
You don't have to go home, but you can't stay here. Unless your name is Jose.
Go ugly early
Right on. "If you're not gettin' enough, lower your standards".
Hitting bottom is when conditions deteriorate faster than you can lower your expectations.
Ah, a fellow traveller, a friend of Bill.
What is a 'fair' wage?
It's what they pay carnies.
By the look of things, much of America is already paid in cotton candy and deep-fried Snickers.
how much can pressing each others pants be worth?
I laughed.
$18 million for 3 years of work in the private sector after leaving office committing treason against the nation like some chicago mayor?
Wow, like I've beamed back to the 70's.
Better turn down the thermo and find that Cardigan. I'm off to siphon my neighbors gas, but I'll be back in a few.
Fuck, these drones making min wage or Wall Reich wagers 'need to lower their expectations'? To what for ffs. They're already half feral animals.
And Joe Sixpack says US gov needs to ratchet down domestic tranquility expectations.
These mother fuckers need to burn
Why won't you DIE? [/Freddy Krueger]
The Kruegmans ... brothers from other mothers Princeton-style
RATCHET DOWN DEVALUATION, PUTZ.
Krueger was Chairman of the Council of Economic Advisers
He's Jewish, was preceded by a Jew, and succeeded by a Jew....
meaning the Chair of the CEA, like the Fed... had 3 jews heading it in a row... and like the IRS if Steve T Miller was in fact Jewish
http://en.wikipedia.org/wiki/Steven_T._Miller
He definitely was preceded and succeeded.
Then there's Lack Jew in treasury - both of whose deputies are Jewish
http://en.wikipedia.org/wiki/Jack_Lew
He used to chair the OMB where he was preceded and succeeded by a Jew but theres an asterisk there because it was the same guy - Jeff Zients
Jeff Zients, you ask? Yes - Jewish
http://en.wikipedia.org/wiki/Jeffrey_Zients
here's the thing - as director of the National Economic Council he followed a Jew...who followed a Jew...so that also had 3 jewish heads in a row.
http://en.wikipedia.org/wiki/United_States_National_Economic_Council
and as head of the Office of Management and Budget he followed a Jew by the name of.... wait for it.... Jack Lew... the OMB had 4 jewish heads in a row
http://en.wikipedia.org/wiki/Office_of_Management_and_Budget
2.5% of the population, folks.
I keep waiting for a MSM or even alternative news story on not only the Goldman Sachs and K street revolving door, but the sheer, massive, obvious , easily verifiable wild over-representation of Jews as heads and senior staff at the Fed, IRS, Treasury, Commerce, Trade Rep, FDIC, CBO, and ion and on and on....
add to this the total Zio domination of State and AIPAC doesnt even have to work that hard, eh?
Hear tell that Ron Popiel is next Secretary of Television Commerce.
"Set it and forget it."
He'll fit right in.
and Duffy hits it out of the park. Of course he's a Jew, how else could they find anyone else without a soul or a conscience? Need to lie and cheat and need a sociopath? Hire yourself a Zionist. No worries, works every time.
Surprised that no one addressed that besides Krueger being a Zionist sociopath he was also Obama's chief pole smoker. Gay as gay can be.
What a disgusting country we've become.
How bout'cha eat a bag of dicks there guy?
Time to get the entrepreneurial spirit propaganda machine out again
What ever happened to green shoots?
That worked so well back in the days gone by.
The green shoots were an idea promulgated by his Prince in Waiting, Plugs, when he was awakened rudely by escaping gas during a somewhat overly quiet cabinet meeting. He vouchsafed that as his newly transplanted hair follicles would create a glorious head of hair thereby embellishing his false pride, he suggested the same pattern would occur naturally in the economy. Hence, "Shoots". But, of course, Vallerie (The Mad Col.) was quick to point out that favorable economic conditions are not oft referred to in pubic terms and suggested the term "Green Shoots" be employed in order that the Economic Growth Prospects be Inextricably Tied to Grand Benefactor Monsanto's Agenda of Wonderful Plentiful Genetically Modified Harvests of Magnificent Abundance.
And, the name stuck.
So you can thank Joe for that, too. Not the plumber. The Other Joe. The kinda goofy one. Like your senile drunken uncle Joe. Yes, him. Uh huh...
Sooo... we should settle for the salary we're going to get after we go to prison for lopping off some bankster's heads?
Bingo Postal, we can all get on the Cloward and Piven playbook, and break 'em by getting 3 hots & a cot.
I wonder what percentage of a prison meal is cullulose.
Probably a lower ratio than you can find in most products at ChinaMart (Walmart).
That is too funny! I wish I could ratchet down my rising bills. Where is the recovery? Ain't one. WTF do you expect with big and getting bigger government and all that that entails. Here is a story for you, a local lefty columnist who always calls for bigger government and he loves Obama and obamacare, his column today warns us about taking early social security while still working. You get penalized, and the penalty depends on income and he warns of the hoops you have to go thru with the social security office, to get it all figured out correctly, as he feels he is being overly penalized. He is just overwhelmed with how hard it is to get things straightened out with S.S.. Yet this same idiot writes column after column in the local rag calling for more top down federal power and it's accompanying red tape and enpowered burro-rats that come with it. Amazing.
You've just given the perfect anecdotal evidence of "Cognitive Dissonance".
Shouldn't be a problem -- they've been lowering the expectations of the American worker since the late 70s.
Oh yeah, and it's all Obama and the Jews fault.
L K, I think many/most here would say it's the fault of Both of these POS Parties, CB's and Ourselves, for not placing Heads on Pikes and in Baskets.
PS, as to the "Jew" part of your comment; I don't give a Rat's Ass if they're black, white, red, Baptist, Jewish, Agnostic or anything else. (But I would like to see the Per Capita Stats on the head-count when it's all over).
Pre or Post Culling?
Post culling/cleansing. (Indicated by the words, "head-count" not body count.
"And then -- perhaps it was not happening, perhaps it was only a memory taking on the semblance of sound -- a voice was singing:
"Under the spreading chestnut tree
I culled you and you culled me"
"The tears welled up in his eyes..."
Friend, don't get too hopey that you'll be around after the Great Culling.
Just sayin'.
One of my greatest advantages, I came to comfortable terms with my own mortality many years ago.
"Shouldn't be a problem -- they've been lowering the expectations of the American worker since the late 70s."
The trend is their friend
"Chief economist"
Has this mental munchkin jagoff ever run a real business?
Doesn't matter, he was indoctrinated at Cornell and Harvard, he is a political party hack, and now he is a professor at...Princeton!
Empire in decline. Those that will be crushed the most are those least able to vacate. panic first, avoid the rush
It would appear Mr. Krueger should stop being cynical and just get hopey.
They have a 501cX app for the hoaxy stuff.
It's easier to tell everyone else to lower their expectations rather than say they have no clue what they are doing. This seems to be the line of this administration right now now matter what the subject or policy.
Damn good point. Be happy eating rocks peasants, for tomorrow there shall be none. And praise be to me for making sure you had a rock today.
It's Déjà vu all over again; 1979. A crisis of confidence.
https://www.youtube.com/watch?v=1IlRVy7oZ58
It must be our fault, we just have to get out of this great malaise.
Food to eat and a place to sleep is asking way too much!!! Get back to work!!
My wage expectations are about as ratcheted as low as they can go w/o me living under the overpass. What a fucking filthy out of touch worm he is.
On the other hand, the sheer poverty in my college years taught me how to do things on my own. I'm getting ready to replace the fuel injectors in my car tomorrow. I scored some new old stock ones off of eBay for $50 versus $400 through official channels and add in a few hours of my wrenching time and done.
It beats paying $500 "labor" + parts at a repair joint and giving an out of control government more tax revenue plus an already rich owner more money at my expense.
Starving the beast one project at a time!
yep.... the labor rates at the 'shops' are insane. $85 an hour or more.... then they fuck something up and blame the customer that it was a 'preexisting condition' like a health insurance company.
Then they fuck something up ON PURPOSE....
There, fixed it for ya
Hell, they are known for doing it in way fewer hours than they claim in that little book they use too.
Years ago, my mother took her car to a stealership where they told her she needed a brand new engine for no reason. Well, her brother worked there and found out about it. He got the guy fired.
This is just another facet of a society that condones and ignores fraud just like Banksters are allowed to operate above the law. If I committed a crime 1/1000000 that of a Bankster, I'd be doing hard time for a long, long time.
Do they not realize that “May I take your order, sir?” jobs, are only a touch screen away from going away? Fifteen an hour? Okay, so you used to sell mortgages for $120k a year, gone. Or you started off making $140k /yr writing code for Mister Softee; a guy in India does that now for much less. You were spoiled, get over it. Learn to live smaller…tough to give up the two SUVs, the jet skis and the motor home, but that’s how the ‘New Normal’ is, and will be forever!
The Fed Bank will not save the middle class from disappearing. Silicon Valley will implode and with it the last traces of the excesses. Facebook and Twitter worth hundreds of billions of $? Camera on a stick, billions?
How many f***ing I-Toys can any one human being use? Cars again being sold to anyone who can fog a mirror…repo man is thrilled. The Fed has painted itself into a corner, and they will tell you they had no other options. There are still plenty of people upside-down and walking away from their houses every day after the bankers tell them no to a short sale.
Most everyone chooses to take the blue pill and they wake up in their beds, the sun is shining and they are confident the Fed will support the markets. They will all be rich with no effort and no risk. ZHer’s have all taken the red pill.
Krueger is correct and a dick at the same time.
Well, I think he's correct for about 80% of the current US population. The 80% might go to 99% pretty quickly, though, I reckon.
and starting with congress, let the ratcheting begin
expecting real leadership in conformance with the US Constitution and for the betterment of the nation is apparently expecting too much as well.
That slimeball should be CEO of WalMart!!!eom
But then how can I afford to build another guillotine or three?!
Geez Louise Tyler, you post this here and it's copied all over the Interwebs already, but where did YOU get it? Whose wages is he talking about? Does he mean not to expect an increase, or that we should expect more decrease? Does this apply to minimum wage or maximum wage or riders of the purple wage? Or do I just have to give up ten hours a week to a Guatemalan child?
...my comment to Mr Krueger:
(akrueger@princeton.edu)
Mr Krueger,
You have had the unfortunate occurrence of having your words scrutinized by zerohedge: http://www.zerohedge.com/news/2014-08-01/obamas-former-chief-economist-h... How erudite your high placed observations were in attempting to dash hopes of the common man in these united States. The fatal flaw contained in your erroneous opinions obviously lie within the misplaced loyalties and corruption of conscience. Certainly time will cure that. In case you are apt to blithely dismiss the obvious please, for the sake of appearing dim witted or a profane liar, be sure to include an accounting of the $ trillions of counterfeited wealth stolen from the back pockets of of everyone that earns a wage in the counterfeit fiat currency. As you elucidate the nefarious means by which the banking cabal, through the guise of the Federal Reserve (neither federal nor a reserve), steals from the population on a daily basis, do so boldly displaying the file photo with the jutting jaw held high and proudly defiant. It would be a fitting and ironic twist when the powers that be (PTB), the ones writing your paychecks to pay for you to spew this tiresome drivel, finally have you whacked (or suicided, as they have one for so many of their mid level banker executives) a fate befitting the spineless, gutless wonders of the "bought and paid for" political establishment. Good day to you sir,THE NEW AMERICAN DREAM
"You should be happy you get to work for free. Some people have to pay to work at the job you got."
Welcome to the Third World
Freddie Krueger? WAR
Isn't it odd how quickly the views of ethical economists change once they have tenure and the shackles of government-servitude are removed.
So the author of this article believes an "ethical professional" tells lies when they are paid to (when it benefits them), and then tells the truth later after they've helped cause and justify atrocities (when it benefits them)?
If that's what "ethical" means, this author should retire and shut up.
Dear America:
Don’t blink.
Blink and you’re dead.
Don’t turn your back.
Don’t look away.
And don’t blink.
Good Luck.
The government is jam-packed with these stinking hucksters.
where's Robert Reich
ZH needs to provide links to articles to verify statements.
ZH needs to provide links to articles to verify statements.
"KRUEGER SAYS WORKERS NEED TO 'RATCHET DOWN WAGE EXPECTATIONS'"
How much are the 6 figure bonuses at Goldman Sachs expected to be this year?
How much in stock options are the publicly held corporate CEO's, getting this year?
Rich Charlie Munger said suck it up and cope. Of coarse, he never has to follow his own advice for the 90%.
oxymoron
Obama's Chief Communist Asshole
there, fixed it
Bourgeosie are the the biggest component of the Free Shit Army. They get their free shit mainlined from the source at the central banks.
then the question is more if it's fair to call them bourgeouis
your argument goes in the direction of the "Great Subsidies" of the American Suburban Home, going on since WWII, courtesy of the USG, the FED and the American Banking System