PeakTrader.com

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PeakTrader:

It’s amazing the lengths the two charlatans, Morganovich and Jon Murphy, go to.

One just makes things up and assumes it’s economics. He’ll also create statements you didn’t make and then disagrees with them to prove you’re wrong. LOL. Moreover, he’ll personally attack you with something he doesn’t understand, e.g. how to turn $6 into $33,000 in three weeks trading RMBS calls, or making over a 40 times return trading only IMCL calls over several months. He just can’t believe anyone can hit it big, although it’s not surprising given his poor understanding of risk and reward.

The other charlatan will cut & paste a statement about economics without putting it in quotes in the first half of his comment to establish he knows economics, and in the second half of his comment present a simple example that completely contradicts his own conclusion, e.g. the higher minimum wage caused teen unemployment, although in reality the real minimum wage declined, while teen unemployment increased.

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And, I say, they’re charlatans, because one claims to have a BA in economics, from Brown University, along with multiple other BAs, and the other often calls himself an economist.

Yet, neither uses the economics terminology appropriately, the few times they use it (economics is rich in terminology), understands basic models (not only partial equilibrium models, also input-output models, optimization models, contemporaneous models, etc.), nor realizes when their statements are in the form of equations, they’d be full of contradictions and simply wouldn’t make any sense.

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Jon, you have it backwards. The teen labor force participation rate, for example, has collapsed over the past few decades, which makes the teen unemployment rate much lower.

So, your point is unemployed teens are actually much higher than the teen unemployment rate shows.

You don’t believe higher wages will attract teens with higher reservation wages or the opportunity cost of work.

Employers are exploiting plenty of workers. Some Americans don’t want or need to be exploited.

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How do you know? Maybe, rather than working for cheap wages, they’d rather play video games, mooch off government or their parents, or build-up tens of thousands of dollars in debt going to college.

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Harold Saxson, the purpose of raising the minimum wage is not to create employment, it’s to increase output and efficiency in production, along with correcting a market failure.

If you want to just create employment, you can pay people to dig holes and fill them up again.

You’re as ignorant about economics as the misery loves company crowd, i.e. the five or six wackos, who drove most normal people out of this blog.

No one will build-up inventory and hire workers when there are no customers, because wages are too low.

Prices don’t have to fall. Profits can rise instead, and firms can underproduce to maximize profits.

Also, I may add, it’s amazing, when the Morganovich zoo describes me, they describe themselves perfectly.

Very cute.

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http://www.aei-ideas.org/2013/11/in-western-europe-the-average-jobless-rate-is-twice-as-high-in-countries-with-a-minimum-wage-vs-those-with-no-minimum/#comments

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PeakTrader:

marque2 says: "As near as I can figure, the VA is one of the vectors in N-space."

And, you’re nowhere near explaining what you’re trying to explain, if anything.

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I find it interesting some people don’t trust rigorous models. I guess, they’d rather blast-off in a rocket that hasn’t been tested rather than a rocket that has been thoroughly tested and passed every test.

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A rigid ideologue, whether a communist or a libertarian, relies on faith, regardless of the outcome.

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There are many rigid ideologues.

Of course, the problem with Libertarians is they’re just as rigid and political as Liberals, except they don’t get anywhere.

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It seems, the only major accomplishment of Libertarians, besides fracturing the Republican party and driving moderates to people like Obama, Pelosi, and Ried, is making drug use more socially acceptable.

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Obamacare:

http://online.wsj.com/news/articles/SB10001424052702303460004579192081764514664

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