Posted on 05/07/2016 5:30:23 AM PDT by Kaslin
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: "If you don't work you die."
Puerto Rico has financial problems. There’s a movement afoot in Congress to help them out. Paul Ryan has said he’s all for it.
The problem is that, traditionally, states and municipalities have had to take care of their own financial bankruptcies.
More importantly, help for Puerto Rico would be a camel’s nose under the tent event, providing precedent for socializing the government employee-pension driven debt of such sinkholes as Illinois, New Jersey, and Detroit. It would be a milestone on the path to creating a permanent government-favored aristocracy and client class.
Think about it... long retired Teachers, police, firemen... those whose unions have aggressively played the short-term election drivent weaknesses of our elected representatives... would be given opulent pensions for the rest of their lives.
They’ve been promised that already, of course, but inadequate funding and unrealistic promises should not be dumped on the non-governmental taxpayer, the payer of last resort.
Puerto Rico: Camel’s Nose Under the Tent.
The author is correct, but isn’t going deep enough.
The problem is the lying and thieving.
Just because a person has a $40,000 a year government job doesn’t mean that he/she doesn’t think they deserve a Mercedes and a condo in Hawaii.
They just have to steal to get it.
47% of our citizens think that it’s OK to steal if it benefits them.
[Democracy’s Death Spiral]
And the Democratic Party is in full blown panic mode.
Terror and slaughter.
They’ll return.
Rounding the bend right now.
360 Million years ago? The Carboniferous Period? I missed it altogether. No such thing as the Carboniferous Epoch.
“And the Democratic Party is in full blown panic mode.” Unlike the Republican Party which is busily eating its own.
There’s no “Feminian Sandstones”, either, but they’re in the poem too.
I think the fix for this is to allow people to vote based on the share of taxes they pay. The higher someone’s taxes, the more their voting clout. Just like no taxation w/o representation, then no representation w/o taxation.
Crappy “poem”
[ Unlike the Republican Party which is busily eating its own.]
Can’t argue with that, the old status quo republicans are doing just that since Trump blew the whistle on them and revealed to the country what they REALLY are.
While eating one’s own is one solution, it will lead to decades of liberal judgements on SCOTUS and Dem rule for lifetimes. Thanks.
Call it “crappy” if you want, but it was written a year after the end of the Great War, and foretold the next century.
Crappy poems are crappy poems by gd awful “poets” whenever they are written. Read what you want into it or just read Nostradamus who “foretold” centuries of history.
I didn't realize Puerto Rico was a country. I always thought it was a territory. And no, we do not need to subsidize its economic dysfunction.
The world is awash in massive levels of debt that will never be repaid, and the perpetrators’ only hope of keeping this fraudulent game going is zero interest rates, eternal debt rollovers, widespread delusion or suspension of disbelief, and endless money creation to produce more and more liquidity to use as serial short term makeup applied to hide burgeoning insolvencies.
GAAP accounting is long dead, and amplifying this disaster is a mountain of opaque unbacked derivatives with notional values in the hundreds of trillions of $, corrupt and unregulated shadow banking, repetitive rehypothecation of skimpy, crappy, over-valued assets as loan collateral, global regulatory capture, and increasing dominance of once market-based stock and bond exchanges by central banks playing the role of pied pipers run amuck. Former leading western Democracies have become statist structures that are now run increasingly by global monied interests and their parasitic political dupes and shills.
The only questions are how long can this financial house of rotten cards be kept standing, and how one best protects one’s assets in this worsening situation. Oh, and did I mention the many trillions of $ in underfunded pension liabilities and other unfunded public and private liabilities that grow worse each day with ZIRP and non-performing markets cannot address?
Happy Mother’s Day.
Roosevelt’s approach, federal intervention and micromanagement of markets and businesses, was endorsed as constitutional by SCOTUS in Wickard v. Filburn.
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