Yesterday the stock market swooned over the “unexpected surge” in unemployment, to 6.1% (which, by-the-by, is still one of the lowest rates in the world). Naturally the media breathlessly echoed this sentiment.
Well, I'm beginning to think they're all idiots. This “unexpected surge” was completely expected by me. Along with a few of the (truly unexpectedly!) more intelligent politicians who opposed the raise in the minimum wage.
Because, you see, every single raise in the minimum wage has been followed by a surge in unemployment – as employers get rid of the workers whose work is no longer worth what they're legally required to pay them.
Bet those workers aren't all that pleased right now. That raise in minimum wages sure did them a lot of good now, didn't it?
There's only two possibilities here, you know. Either there's a lot of idiots around, or there are a lot of people who believe in magic and the tooth fairy.
Either way, it sure ticks me off.
Idiots!
