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Obama's Former Chief Economist Has Some Words Of Encouragement For US Workers

Tyler Durden's picture




 

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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Fri, 08/01/2014 - 17:36 | 5035075 WTFUD
WTFUD's picture

He's a hunk, of shit.

Fri, 08/01/2014 - 17:37 | 5035086 OldPhart
OldPhart's picture

Just another shitbag in Obama's War Criminal Administration.

Fri, 08/01/2014 - 17:43 | 5035123 knukles
knukles's picture

Freddie Kreuger: "Cut" your expectations

Fri, 08/01/2014 - 17:57 | 5035212 Pure Evil
Pure Evil's picture

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.

Fri, 08/01/2014 - 18:01 | 5035230 kliguy38
kliguy38's picture

He's right. What do slaves need wages for?

Fri, 08/01/2014 - 18:17 | 5035320 Zirpedge
Zirpedge's picture

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.

Fri, 08/01/2014 - 18:46 | 5035453 Manthong
Manthong's picture

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?

Fri, 08/01/2014 - 19:56 | 5035811 EverythingEviL
EverythingEviL's picture

Lol awesome post...so true

Fri, 08/01/2014 - 23:12 | 5036472 Slave
Slave's picture

The guy in the picture looks like he has a dead animal on his head.

Fri, 08/01/2014 - 20:13 | 5035879 centerline
centerline's picture

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.  

Sat, 08/02/2014 - 00:12 | 5036603 TrustbutVerify
TrustbutVerify's picture

Arc of slavery - surely you would include dependency on government. 

Fri, 08/01/2014 - 18:02 | 5035233 knukles
knukles's picture

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?

Fri, 08/01/2014 - 20:27 | 5035793 stant
stant's picture

There not homeless there there campers yeah yeah that's the ticket

Fri, 08/01/2014 - 18:01 | 5035229 Mr Pink
Mr Pink's picture

This douche also answers to Captain Fucking Obvious

Fri, 08/01/2014 - 18:14 | 5035259 MsCreant
MsCreant's picture

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...

Fri, 08/01/2014 - 18:17 | 5035322 813kml
813kml's picture

I think thats ebonic for "wretched".

Fri, 08/01/2014 - 18:27 | 5035363 knukles
knukles's picture

Yes.
It's cultural.

Fri, 08/01/2014 - 18:32 | 5035399 smlbizman
smlbizman's picture

i think its spelled...ratshit....

Sat, 08/02/2014 - 04:37 | 5036940 PhilofOz
PhilofOz's picture

Yep... you beat me too it!

Fri, 08/01/2014 - 19:32 | 5035688 Kirk2NCC1701
Kirk2NCC1701's picture

"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%.

Fri, 08/01/2014 - 17:56 | 5035197 junction
junction's picture

I thought it was Obummer's New World Order cabal. 

Fri, 08/01/2014 - 18:05 | 5035245 knukles
knukles's picture

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

Fri, 08/01/2014 - 19:55 | 5035808 Freddie
Freddie's picture

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.

Fri, 08/01/2014 - 17:55 | 5035194 Sudden Debt
Sudden Debt's picture

You expect wages, this jobs not for you!
You think we made of money?!?! We already feed ya boy!

Fri, 08/01/2014 - 20:49 | 5036013 doctor10
Fri, 08/01/2014 - 17:37 | 5035082 LetThemEatRand
LetThemEatRand's picture

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%.

Fri, 08/01/2014 - 17:55 | 5035176 Cruel Aid
Cruel Aid's picture

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

Fri, 08/01/2014 - 17:38 | 5035093 Chippewa Partners
Chippewa Partners's picture

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.

Fri, 08/01/2014 - 18:19 | 5035332 NihilistZero
NihilistZero's picture

By the "Free Shit Army" I assume you reffer to Fortune 500 CEOs, Poliricians, Public Saftey workers and Hedge Fund managers,  right?

Fri, 08/01/2014 - 19:03 | 5035505 Raging Debate
Raging Debate's picture

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...

Fri, 08/01/2014 - 17:39 | 5035095 McMolotov
McMolotov's picture

America: Lower your expectations and you'll never be disappointed. If you start to get disappointed, lower them some more.

Fri, 08/01/2014 - 17:43 | 5035119 813kml
813kml's picture

The US is beginning to resemble a dive bar at closing time.

Fri, 08/01/2014 - 17:52 | 5035177 LetThemEatRand
LetThemEatRand's picture

You don't have to go home, but you can't stay here.  Unless your name is Jose.

Fri, 08/01/2014 - 19:26 | 5035682 max2205
max2205's picture

Go ugly early

Fri, 08/01/2014 - 18:06 | 5035254 boattrash
boattrash's picture

Right on. "If you're not gettin' enough, lower your standards".

Fri, 08/01/2014 - 17:47 | 5035148 tarsubil
tarsubil's picture

Hitting bottom is when conditions deteriorate faster than you can lower your expectations. 

Fri, 08/01/2014 - 18:05 | 5035252 knukles
knukles's picture

Ah, a fellow traveller, a friend of Bill.

Fri, 08/01/2014 - 17:39 | 5035098 darteaus
darteaus's picture

What is a 'fair' wage?

Fri, 08/01/2014 - 17:40 | 5035104 McMolotov
McMolotov's picture

It's what they pay carnies.

Fri, 08/01/2014 - 17:50 | 5035160 813kml
813kml's picture

By the look of things, much of America is already paid in cotton candy and deep-fried Snickers.

Fri, 08/01/2014 - 19:03 | 5035569 unrulian
unrulian's picture

how much can pressing each others pants be worth?

Fri, 08/01/2014 - 18:54 | 5035518 Black Warrior W...
Black Warrior Waterdog's picture

I laughed.

Fri, 08/01/2014 - 19:43 | 5035763 Vendetta
Vendetta's picture

$18 million for 3 years of work in the private sector after leaving office committing treason against the nation like some chicago mayor?

Fri, 08/01/2014 - 17:41 | 5035108 Make_Mine_A_Double
Make_Mine_A_Double's picture

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.

 

Fri, 08/01/2014 - 17:41 | 5035115 813kml
813kml's picture

And Joe Sixpack says US gov needs to ratchet down domestic tranquility expectations.

Fri, 08/01/2014 - 20:01 | 5035837 EverythingEviL
EverythingEviL's picture

These mother fuckers need to burn

Fri, 08/01/2014 - 17:45 | 5035121 buzzsaw99
buzzsaw99's picture

Why won't you DIE? [/Freddy Krueger]

Fri, 08/01/2014 - 17:46 | 5035149 Rainman
Rainman's picture

The Kruegmans ...  brothers from other mothers Princeton-style

Fri, 08/01/2014 - 17:50 | 5035171 Chuck Knoblauch
Chuck Knoblauch's picture

RATCHET DOWN DEVALUATION, PUTZ.

Fri, 08/01/2014 - 18:05 | 5035173 Duffy
Duffy's picture

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?

 

 

 

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