Is the abuse of capitalism; there are two parts to Asshole Economics. First is Price gouging, the second is poor wages. In price gouging, the theory is to charge as much as the consumer is has to pay, vice how much a consumer is willing to pay. The price of the item is based off a need; the higher the need, the higher the price. Housing, pharmaceuticals and gasoline are much needed items that are price gouged. Banks that offer Adjustable Rate Mortgages start off with offering a monthly mortgage of $500, then it rapidly increases to $2500 per month in a short period of time. Pay-Day loans are yet another example of Asshole Economics, they are legal loan sharks, and they generally target military, low income and minorities. Higher Education is also guilty of this by charging exorbitant tuition fees and pricey text books, insuring that college is out of reach for the working classes.
In poor wages; the asshole managers will be totally opposed to minimum wage, citing buzzwords like “competitive performance”. When Minimum wages are imposed by the state, the asshole economist will be making massive profits, but still pay their staff barely enough to keep them from leaving. To sum up the meaning of Asshole Economics; The rich stay rich, the poor will remain poor.
Customer: “I need these medications, if I don’t get them, I could die!”
Pharmacist: “Well, that’s your problem. It’s $3055.35 for your cancer treatment drugs, you only have $250.”
Customer #2 “Well, that’s Asshole Economics are work!”
Employee “I have been working here for the last five years, I felt it was time to ask for a raise”
Asshole Boss “You have been working for the past five years, I felt it is time to ask for your resignation.. the answer is ‘NO’”
Employee “That’s not right!, what is this Asshole Economics?”
Asshole Boss “I will be nice to you today, either get back to work or go home”
Homeowner: “But you said the rate would never go past $100 dollars!”
Broker: “It doesn’t matter what I said, it’s what you agreed to when you signed the contract”
Homeowner“I can’t afford this!
Broker: “Sorry to hear about this, maybe you can try payday loans.”
Homeowner: “What do you have your degree in? Asshole Economics?”