Sunday, May 22, 2016

Greetings, Slaves! Richard Fernandez pulls it all together with a must read economic/political commentary ripe for our times.

The issue which dogs Hillary and which no cosmetic distancing from Sanders will solve is that the middle class is losing faith in the platform. The political turmoil threatening to break apart the EU and the American Blue Model is rooted in the fact that both are broke and have no prospect of meeting obligations as manifested in the stagnation of wages in the West and also in the collapse of the "security" safety nets for which the present-day slaves have traded away their freedom. The progressive campaign is essentially predicated on the assumption that a sufficiently resolute government can defy the laws of financial gravity. There is now some doubt on that point.

Collectivism cannot even pay its pensions. "The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years."  One of the culprits, ironically, is that the socialists have succeeded all too well in changing mankind's dreadful habit of forming families and breeding children.

It's not just the Government that's broke but also its political partners. Recently the Teamsters' Central States Pension Fund announced that it was bust. Unless it gets an infusion of taxpayer money, pension benefits for about 407,000 people could be reduced to "virtually nothing." Orwell famously said that "if you want a picture of the future, imagine a boot stamping on a human face — forever." What he and Belloc failed to anticipate was that the boot might rot to pieces and fail to fulfill its function to oppress.

1 comment:

  1. The faithless are not qualified to lead the greatest christian nation in this world.