Ah, Collectivists. They're everywhere. And they’re infuriating, yes, but try to enjoy their tantrums. Pity their weaknesses. Look forward to their comeuppance. Don’t let them provoke you into doing something foolish.
Labor unions (including public sector unions, such as the Wisconsin state employees) are infuriating, but they are going to lose, I think. Whether they do or not is important politically. If Wisconsin, and Ohio, and Indiana and the other states can defeat them and enforce reductions in their benefits and restrictions on collective bargaining, the reduction in government worker union power will continue. If on the other hand the unions win, the crash will simply come a bit sooner.
Robert Samuelson, the economist, provides the history of labor unions, which are in serious decline in the private sector, but growing when it comes to government employees. Carl Rove cites a significant and growing wage gap between unionized and non-unionized government workers, in favor, of course, of the unionized workers.
Collectivists aren't just in the unions. Senator Diane Feinstein weighs in with a whiny, whimpering column about a cut in federal government subsidies for "green energy" programs in California. Too bad, so sad.
And Don, a long-time listener to this podcast, provides a scholarly piece on the federal debt, interest on the debt, and what makes its reduction mathematically possible but politically all-but-impossible.
Finally, ditch the term "New America", folks--the collectivist Left is about to grab it for themselves. Let's go with "Free America" instead. Something they're less likely to steal, it's more explicit about what post-crash America will be all about, and it even works as a noun and a verb.
Free America. I like it! Let's make it happen!
The Market Ticker - Is Tesla On The Verge of Bankruptcy? - *If you want one of their alleged "Super-Roadsters" you need to ante up $5,000 now plus $245,000 more within 10 days by wire transfer*. Note that the car...
30 minutes ago