The Biden-Trump rematch is in the books. Who won and who lost? Nobody won, and Biden lost. Will they move on to a second match? Hardly.
In a nutshell, by the end of the talkathon, my fears about Biden’s infirmity were confirmed, but my concerns about Trump were elevated. Biden came off as a doddering old Marxist head honcho like one of those Eastern European party strongmen in the waning days of the Iron Curtain, or the party elders standing next to Brezhnev overlooking the May Day grand parade in Moscow in the 1970s. Yes, Biden is infirm but what came out of his mouth in his infirmity was the socialism that is firmly established Democratic Party doctrine. If the party movers and shakers succeeded in pushing him aside, his replacement won’t be an improvement, just more presentable.
The left-wing party establishment got what it wanted under Biden (and Obama), and the country is a wreck for it. Biden resorted to the party’s doctrinal tics throughout the debate: tax the “rich” to save Social Security (it won’t), all the “pay their fair share” talk, the greenie nonsense, the “glories” of ending unborn life as if it was God’s eleventh commandment, and more bribery of friendly political constituencies with other people’s money. It’s disgusting, and ruinous.
For his part, Trump was . . . Trump. He brought his “A” game, as in donkey. He donned his adolescent schoolyard bully uniform for all to see. Vague generalities, superlatives in regard to himself, avoidance of questions in favor of rudimentary insults, and the repetitive use of a monotonous standard line were the essence of his performance.
Trump boasts were routine. For instance, “I’ll end the Ukraine War before inauguration day.” How’s he going to do that? He has no practical leverage on Putin. He’ll hang Zelensky out to dry and give Putin a third of the country, that’s how. All will be done in an isolated meeting after which there will be a smiling Trump photo op. Zelensky won’t be smiling, Ukraine will be in tears, and naked aggression will have been rewarded. Speculation? It’s more realistic than any of Trump’s self-assessments.
Trump made the correct observation that other world leaders see Biden as an embarrassment. After last night’s performance, they see our country as crazy. Are these two people the best that we can come up with?
Now more than ever, we need a real leader to prosecute the case against the creeping socialism that is smothering us, and for the unborn. We don’t have one, certainly not in Trump. Trump has always been merely a walking gesture, the middle finger to our decrepit politico-cultural elites. He’s incapable of presenting an argument, a line of reasoning. It shows every time that he steps onto a stage. In the meantime, the country is careening to insolvency. At this juncture, neither party will even recognize the tidal wave of debt that threatens to swamp us and our ability to defend ourselves. Eco-central planning is no more coherent than the kind in the old Soviet Union. Who do we have to make the case? Who has the wherewithal to convince the American people to turn away from their belief in the impossible, from decadence?
Don’t look for it in Trump. Don’t look for it in either political party. We need leadership, not a middle finger.
Demonstrators march down Pennsylvania Avenue during a protest against police brutality and racism on June 6, 2020 in Washington, DC. This one end of the voter spectrum. (Photo by Drew Angerer/Getty Images)Trump supporters, the other end of the voter spectrum
Debt. Debt. Debt. Government at all levels is awash in it. Mountains of bonds and treasuries, unfunded mandates, and government spending galore is bankrupting the country. The numbers are in the trillions for Washington, D.C., and beyond millions and into the billions in some state and local hives. California stands out, and is leading the way to massive, harebrained fiscal imbecility, and a dismal future for anyone too young or unborn to vote.
And to think that nobody really cares. The public doesn’t, just try and do something about it. What animates the Trump crowd is rhetorical red meat, sticking it to the libs, and other acts of political theater. No talk of debt, addressing it, or facing the runaway train of our entitlements.
Donald Trump waves to the crowd at one of his rallies in Florida, 2024.
Nothing in Trump’s past or in his recent four years at the Resolute desk is promising. The guy is a real estate magnate who fumbled around in debt and bankruptcy most of his adult life. As president, he just wanted to spend and spend and spend, even chastising Senate Republicans for balking at another spewing of checks across the fruited plain to grease his reelection campaign. The only problem with his personality kink is the absence of the discipline of a bottom line in a federal government that can issue more debt and dollars at will. No state has a Federal Reserve Board. Trump is a child in a candy store, and so are his followers. Enough of this inane talk of having a businessman in the White House, especially this businessman.
The other choice on the political landscape is a band of neo-Marxist central planners who never met a tax, new bottomless social engineering gambit, and outright giveaway that they didn’t like. The central planning is bad enough, but the vacuuming of more taxpayer dollars from potentially productive endeavors in the private sector into the hands of politicians and their special pleading lackeys is a recipe to repeat 1920s Weimar Germany, or maybe 1920 Bolshevik Russia.
President Biden delivers remarks regarding student loan debt forgiveness in the Roosevelt Room of the White House in 2022. (Demetrius Freeman/The Washington Post via Getty Images / Getty Images)
Where are the adults? Do we really want adults in decision-making posts? Apparently not. Adults aren’t popular. Never have we been more in need of someone who will speak truth to power, and that power means the American public who keep electing these clowns. We, the American voter, are the real “establishment”. As before, watch demagoguery short-circuit any come-to-Jesus talk.
The numbers are staggering. The national debt of $34.5 trillion is not far from the country’s total productive output, increasing $1 trillion every 100 days (see #1 and #3 below). Meaning, we are close to the land of no return. Compound the nightmare with rising interest rates adding fatter interest payments to the astronomical total and the magnitude of our fiscal immaturity resembles the black hole at the center of the galaxy. Democrats and Trump only know how to spend, with the Democrats performing a lethal injection of tax hikes into our bloodstream as we drown in the sea of debt.
If there’s one thing both sides agree on, besides the profligate spending, it is, “Don’t touch Social Security and Medicare!” As entitlements, both are on spending autopilot. The spending flies on, but the funding source is deteriorating; the revenue fuel tank of the contraption is shrinking in real time. The program is set up as pay-as-you-go, so the elderly need to stop saying that they are only getting their contributions back. Balderdash. Current retirees are receiving the contributions of current workers. That’s the truth behind the lies. When the amount of inflow stagnates or declines due to demography or deteriorating prospects for the young contributors, and the outflow prances forever upward, the fiscal tipsiness is guaranteed to add more huge infusions of red ink.
How much of an infusion? Don’t let the banality of these colossal numbers (trillions) habituate you into accepting them as tolerable. They aren’t. Euphemistically referred to as “unfunded obligations” among official bean counters, Social Security is scheduled to pour $19.8 trillion into the master “unfunded obligation” of the national debt through 2095. Medicare promises another $68.1 trillion. If we take the trend line into the great beyond, in perpetuity, as far as it can be calculated, Social Security raises the ignominy to $59.8 trillion and Medicare $163.2 trillion (see #2 below). If this was a drunk, the victim would have long ago expired from alcohol poisoning.
California is paving the way to this sordid future, but in their muddled thinking, in their clichéd mind, it’s a compliment – all the talk about “California is the future”. Well, they got this one right. California is likely to be the country’s future. They went right from a state that could conceive and build the California Water Project to inmates running the asylum. It’s a playground of the insane. There’s your future.
California governor Gavin Newsom speaks at a press conference in Beijing, China, October 25, 2023. (Tingshu Wang/Reuters)
The state’s popularly elected governor and legislature discovered, like kids coming downstairs to the Christmas tree, an eye-popping $100 billion pot of gold, or “surplus”, in the summer of 2022. Chief inmate, Governor Gavin Newsom, gushed, “No other state in American history has ever experienced a surplus as large as this.” And then he and his fellow adolescents went around showering the largesse in a splurge of incontinence. 23 million of its residents received checks worth as much as $1,050 at a price tag of $9.5 billion. It then would seem only natural for a self-proclaimed sanctuary state for immigration law violators to bankroll $5 billion for the health care of the same immigration law violators (see #4 below). Foreign nationals in our country in violation of our laws now get bennies. Got that?
In their unthinking habit of seeing bigger budgets as success in any social venture – not kids reading better or the number of homeless declining – the Sacramento clown car shoveled $20 billion into the pockets of the professionalized homeless “advocates” in their opulent NGOs, with no positive impact on public defecation, open-air drug dealing and use, crime, or the number of filthy encampments littering city streets. The state’s potentates could go a long way in curing the problem just by being a little more energetic, as they demonstrated recently in sprucing up grimy San Fransisco for the ruling thug of Red China, Xi. Instead, you’re likely to see an increase in real estate investments by those professionals in their NGOs. They don’t have an interest in curing the problem for that would only make them get a real job (see #4 below).
The state’s deficit stands at $78 billion, and rising. Add the state’s massive overspending to local wantonness and the total debt picture throughout the state approaches $1.6 trillion (see #4 below). I’m not sure if a cliff or wall is the most appropriate metaphor, but the car is more than driven by the mandarins in city hall or Sacramento. These nincompoops are popularly elected. The people of the state have their foot on the pedal. The people want fiscal insanity.
So, let’s stop blaming some abstract others for this dire situation. The people voted for it, and continue to do so. I’m reminded of Michael Jackson’s “Man in the Mirror”.
As one stanza puts it:
“I’m starting with the man in the mirror
I’m asking him to change his ways
And no message could’ve been any clearer
If they wanna make the world a better place
Take a look at yourself and then make a change”
Leave it to the King of Pop to issue a come-to-Jesus moment. It’s astounding to think that a deeply flawed man, who died of a deadly cocktail of drugs, made more sense than the people do in their elections. Stew on that for a while.
RogerG
Sources:
1. US Debt Clock at https://www.usdebtclock.org/. You can watch it climb in real time.
2. “The Real Federal Deficit: Social Security And Medicare”, John C. Goodman, Forbes, 2/25/2024, at https://www.forbes.com/sites/johngoodman/2023/02/25/the-real-federal-deficit-social-security-and-medicare/?sh=25189f695679
3. “The U.S. national debt is rising by $1 trillion about every 100 days”, Michelle Fox, CNBC, 3/1/2024, at https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html
4. “California’s Deficit: Bring Your Alibis”, Will Swaim, National Review, 3/18/2024, at https://www.nationalreview.com/2024/03/californias-deficit-bring-your-alibis/
California State Teachers Retirement System headquarters in Sacramento, Ca.
Really, can I sue California’s STRS, the state’s teacher pension system? I would think that I have standing. After all, I am receiving a CalSTRS pension. Why would I sue? They are imperiling my pension. Simple.
How are they harming the integrity of my pension? It comes in three letters – ESG – and, to no great surprise, California is all into it. The initials stand for “environment, social, governance” and the plan is to impose these political abstractions on the entire business sector including finance, which also includes pension investing. In practical terms, ESG means the grab bag of leftwing causes from transgender ideology to the crusade against “systemic racism” to climate-change apocalyptics. The purpose is to strongarm businesses into leftwing causes with the use of the mother’s milk of business – capital – capital even from pension members.
A leading advocate among mega-financiers for ESG under label of “sustainable” is Chairman and Chief Executive of BlackRock, Laurence Fink. Here he speaks during a session at the World Economic Forum (WEF) in Davos January 25, 2014. (REUTERS/Ruben Sprich)
The State of Utah is suing – that is, suing Standard and Poor’s (S&P) for assessing the state’s financial stability and credit worthiness according to leftwing metrics (ESG), or how diligent the state is in furthering leftwing causes such as hostility to the firearms industry and energy companies. Since the electorate of Utah doesn’t have the political sensibilities of gun controllers, BLM, the progressive ladies of The View, or the Sierra Club, the state’s financial status and bonds get downgraded by S&P acting in the role of the Left’s hatchet man. If the state’s electorate doesn’t pay heed to the fascinations of a college Sociology faculty, their bonds get branded “B” (junk). The purpose is to jeopardize the state’s financial health if they don’t come to heel.
Public-employee pension funds are particularly prone to the sway of the zealots, especially CalPers and CalSTRS in California, already under the direct thumb of an off-the-charts progressive one-party state. Out goes the standard fiduciary rule of working in the best interests of the client, in comes a redefinition of “best interests” to involve the political inclinations of those like Gavin Newsom wanting to risk the pensioners’ contributions and ultimate payout on Solyndra-type ventures and away from investments that until yesterday were pro forma.
In the case of a public-employee pension system, “best interest” can’t be limited to managers taking dictates from powerful and ideologically pretentious politicos. Contributions come from everyone from Marxists to NRA members in general funds like CalSTRS. The only real requirement is to be a teacher of the requisite number of years. The one thing that they all have in common is being retired and spoiling their grandkids. If any of them want to fund the antics of The Squad, they can do it from their pre- or post-retirement income, not beforehand after a deterioration of potential payouts to every beneficiary by Gavin Newsom’s preferences.
Kentucky’s AG, Daniel Cameron, senses the chicanery as well. He hit the mark with a letter to the state’s pension fund managers when he warned them about ESG investing because it would “violate statutory and contractual fiduciary duties.” He continued, “There is an increasing trend among some investment management firms to use money in public and state employee pension plans — that is, other people’s money — to push their own political agendas and force social change.” Those fiduciary duties might apply to California as well.
Daniel Cameron, Kentucky’s AG
A favorite tactic to make ESG seem legitimate is to label the opinions of the Left a matter of “science” and a product of a “consensus”, therefore irrefutable, therefore “misinformation” if challenged, therefore above and beyond the standard rules of fiduciary responsibility. This new “science” – the scientific truth (?) of Leftist opinion – is actually a “science” without the scientific method. Think about it: What scientist comes from an experimental test of his/her hypothesis with the observation that the results are wrong because they violate a “consensus”? The whole exercise is as nonsensical as handing over my pension’s investment portfolio to the screeching ministrations of Greta Thunberg or Alexandra Ocasio-Cortez.
But here we are at a place where we can’t challenge the destruction of a pension because anyone who disagrees is censored as a “denier”. So, the Left gets carte blanche with the money for my old age. I don’t think so. Send lawyers, guns, and money. Oh, drop the “guns” part and let’s sue.
I identify with Warren Zevon’s predicament in his song “Lawyers, Guns, and Money”. The lyics:
“I went home with the waitress, the way I always do
How was I to know, she was with the Russians, too?
I was gambling in Havana, I took a little risk
Send lawyers, guns and money, dad, get me out of this, ha
I’m the innocent bystander
Somehow I got stuck between the rock and a hard place
And I’m down on my luck, yes I’m down on my luck
Well, I’m down on my luck
And I’m hiding in Honduras
I’m a desperate man
Send lawyers, guns, and money
The shit has hit the fan
Alright, send lawyers, guns, and money
Huh, yeah
Send lawyers, guns, and money
Uh
Send lawyers, guns, and money
Hey
Send lawyers, guns, and money
Oo, yeah
Yeah
Yeah”
Zevon’s performance of “Lawyers, Guns, and Money”:
RogerG
Read here for more:
* “Follow Daniel Cameron’s lead, purge every hint of ESG from your state’s finances”, Washington Examiner, Nov. 4, 2022, at https://www.washingtonexaminer.com/restoring-america/faith-freedom-self-reliance/follow-daniel-camerons-lead-purge-every-hint-of-esg-from-your-states-finances .
* “Utah pushes back against pro-Putin ESG financial analysis”, Washington Examiner, May 2, 2022, at https://www.washingtonexaminer.com/opinion/editorials/utah-pushes-back-against-pro-putin-esg-financial-analysis .
“Every decent man is ashamed of the government he lives under.” H.L. Mencken
Are the people pushing “Build Back Better” (BBB) proving Mencken right? As if we need any further examples, we’ve already got the person who nosed across the finish line first in the 2020 presidential derby sounding grossly incoherent on most matters, and especially on his bigger-than-WWII lollapalooza — the “BBB”. He’s not alone. Listen to Psaki at pressers, and Pelosi, Schumer, and the rest of the big wheels running the show in Congress.
Here’s the head-scratcher: How can you have “costs nothing” and “paid for” in conjoining sentences? They’ve said it regularly, and with a straight face. If it costs nothing, it’s free. Right? If it’s “paid for”, somebody, probably many somebodies, paid for it. Reality sets in. It will be taken out of one group’s hide to fatten the financial accounts of others, least of all the beneficiary down-and-outs.
The Congressional Budget Office just scored the latest edition of BBB. Surprise, it comes up short, way short. The DC capos (as in mafia “captain”) invented a number – $400 billion – from various BBB empowerments to the IRS. The CBO awakened the conjurers from their wet dream by downgrading the number to $120 billion. And this may be an overestimate since the law of unintended consequences will be unleashed as it was for LBJ’s Great Society of the 1960’s.
The poster child of the failures of the Great Society: the east side of Detroit as seen in a recent video.
Bear in mind that the whole shebang is designed to turn your life upside down and give you wasteful government services that you don’t want and won’t like. That’s not the end of it.
Just think, if it fuels inflation, interest rates rise and interest payments of the accumulated debt jump to new levels. Financing “paid for” will eat up the budget, and say goodbye to our blue water navy and a sane dollar. Of course, we could be a banana republic and repudiate the debt. It’s easy, don’t pay it, and we’re off to oblivion.
How do politicians lie? This way. Yep, our recent edition of the clowns is making Mencken’s point.
Our new god, The State, speaks: “Thou shalt drive an electric car.” When this god-imposter speaks, run!
Something normally left to individual choice, along with vacation destinations, is now the province of The State. Combine a neurotic over-reaction to unprovable threats (climate change hysterics) with a growing State impulse to engineer the person along the lines of the neurosis and the result will be a pure, unadulterated mess. The State is a hammer-for-everything when a shed full of tools is the actual necessity. Our lives will begin to look like the incessant and crude pummeling of a hammer. Translation: live less well.
And, God almighty, are they out to get the internal combustion engine. Gavin Newsom, governor of the looney bin formerly known as the State of California, and emboldened by his survival of the recall, signed the death warrant for the gasoline car in the state, the lethal injection to be performed by 2035. From DC, Biden’s Build Back Better – errrr Worse – has $13.5 billion for scarring the roads and interstates hither and yon with plug-ins for the things. To make sure that you use those plug-ins, the feds will bribe you with other people’s money – to the tune of $12,500 per purchase – to buy the contraption and junk your quite functional family sedan. That’s right, replace something that works for a will-‘o-the-wisp.
*Read about the EV and its heart and soul, the battery, here.
I equate the EV craze to gender reassignment surgery. Surgeons jettison the Hippocratic Oath by destroying perfectly healthy organs to align a person’s physique to their imagination. Ditto for Build Back so-called Better: mutilate the transportation grid to better fit the fancies of the half-witted representative from NY’s 14th congressional district.
And what are we going to get out of it, besides the will-‘o-the-wisp? A mess, a big mess. How much of a mess? Just think it through. Those holiday trips to grandma’s house will be measured in battery capacity. Don’t take too many long trips, commutes, or otherwise because the trip’s mandatory half-hour quick charges degrade the batteries. Don’t expect 100,000 miles out of the thing. And just think, you were forced to give up something that works very well for . . . God only knows what. Wait for this to percolate through the economy and into higher unemployment figures and higher grocery bills and poorer diets.
That’s a ticket for a return journey to the Middle Ages.
And what of those now-common California blackouts? After all, the greenie grid functions like the greenie car. The physics of the substitution of high-density energy with low-density doesn’t add up. The trillions spent on trying to make it work is an attempt to bend the laws of nature to the half-literate musings of The Squad. What will you do with an EV with no juice to its umbilical cord and plug? Commutes will be made more formidable, the suburbs will atrophy, and its back to cramped apartment life at the mercy of Lori Lightfoot’s or Bill de Blasio’s defund-the-police rantings. Is raising kids in decrepit schools and on streets filled with gangs, the homeless, needles, and feces supposed to be “Build Back Better”?
Homelessness in LA.
Remember, the trillions and trillions going into this bottomless pit is money not spent on other things. An adult, not the eco-fanatics in Congress, would recognize this as trade-offs. Our decaying military will make it possible for the Pacific to become a CCP lake. Try a supply chain under that regime. Reliance on more expensive and unstable energy and less functional vehicles means less productivity, and productivity is the name of the game for prosperity. More money going into greenie infatuations is less money for R&D for the next wave of world-impacting innovation. Add it up . . . and cringe.
Have we lost our minds? Our car fleet is more efficient and less polluting than nearly any outside the Anglosphere and Europe. We are now expected to dispense with the great strides in the use of fossil fuels and jump headlong into electricity-everything, just at the time when they plan to make the production of it more unstable and vulnerable. It’s crazy, absolutely crazy
Intentional blackouts caused widespread damage and outrage throughout California over the past couple of years. (photo: JOSH EDELSON/AFP )
Part I in this series was about hysterics over the virus driving a people to mommy-state absolutism and the consequent slide to greater poverty, and a Medieval life. Part II concerns the climate-change delirium that promises to depress much of what’s left of our generally benevolent quality of life.
I’m reminded of Eastwood’s 2019 film, “Richard Jewell”. Shortly after the 1996 bombing in Atlanta’s Olympic Park, the FBI and a big-city newsroom moved from “lone bomber” to “hero syndrome” to Richard Jewell, the man who discovered the bomb and saved hundreds by evacuating the area before the explosion. Instead, he was turned into the lead suspect, which was broadcast to the world for months. Later, after months of FBI aspersions and negative press coverage, he was finally cleared and the actual culprit convicted.
Why mention this? Simple, organizations exhibit psychoses like individuals. Call it a social psychosis. An erroneous idea enters the organization’s social bloodstream, is reinforced by the mores of the group, and is hard to shake despite little evidence. It is so entrenched that caution and humanity get tossed to the wind. It is an alternative reality for them. The effect is magnified when allied organizations, such as a big-city newsroom and the FBI in the case of Jewel, feed each other’s prejudices.
Today, instead of some organizations’ blind embrace of the “hero syndrome” to guide their judgments, we’re experiencing another socially entrenched idea, climate change, that promises to deliver much greater and longer-term harm, and not in the ways intended by Earth First.
As before, allied organizations intensify a belief’s impact. These entities are less independent of each other as they reflect more homogeneous backgrounds such as college, intermarriage, and family status. Background examinations of the membership and employment lists of the Ford Foundation, Sierra Club, Department of Energy, US Forest Service, EPA, and much of the administrative state, etc., including the desk jockeys in national security, are an excursion from campus to campus and white collar to white collar. Increasingly, social homogeneity means a greater ideological homogeneity. The same mental bugs, such as the supposedly imminent threat of climate change, has resonance and force.
EPA employees joined the People’s Climate March rallies in Washington, D.C., Chicago, Philadelphia, Dallas, and Denver as part of the 370 events held April 29, 2017. The AFGE in the banner on the right stands for American Federation of Government Employees which is the largest federal employee union representing 700,000 federal and D.C. government workers nationwide and overseas.
We everywhere hear of climate change as a “fact”, hidden under verbal constructions like “scientific consensus”. Science isn’t about “consensus”. It’s about research, labs, and the constant testing and reformulation of hypotheses, not Gallup opinion surveys. A majority opinion is just another thing to be tested, not an end to the process so activists can rush off to write The Green New Deal.
What do these prophets of climactic doom have in store of us? Hmmm. It’s obvious they don’t like people or individuals organized in free societies. They’re utopians in the mold of Karl Marx with all the “alienation” nonsense (human alienation from nature) and the militant reflex to engineer a “better” person. Their 20th-century literary and ideological Trail of Tears goes from Rachel Carson’s fear of chemicals (’62, Silent Spring) to Paul Ehrlich’s fear of more people (’67, The Population Bomb) to Charles Reich’s greenie-Marxist totalitarianism (’70, The Greening of America) to Murray Bookchin’s open advocacy of eco-socialism (’86, The Modern Crisis) to Michael Mann’s graphic global temperature “hockey stick” (’98) to AOC’s declaration of the end of the world in 12 years. Rhetorically, they went from legitimate concern to doomsday in the span of 60 years, all in the campaign to impose their control over the most intimate details of our lives. Lenin, Mao, and Pol Pot would be envious.
As in the devastations of Lenin, Mao, and Pol Pot, little good and great harm will come of it. Take a look at what sits before Congress today. In the mold of “the power to tax is the power to destroy”, the Democrats’ budget monstrosity of $3.5 trillion ($5 trillion by sober analysts), the reconciliation bill, is chock full of tax increases, all excused under “fair share” rhetoric. Hikes are to occur nearly everywhere in the tax code: capital gains, inheritance, the income tax’s top rate, business taxes, retirement savings, almost anything material and immaterial. If that isn’t enough, they’ve got a carbon tax bouncing around to hike the cost of your commute, keep the lights on, and prevent you from freezing this winter.
Democrats in Congress push their massive greenie social engineering scheme in a presser at the Capitol.
The tax haul is hawked by Democrats at $3.5 trillion so they can astoundingly claim “zero cost”, or as they euphemistically say, “paid for”. Odd, how so terribly odd. Taxes aren’t about “zero cost”; they’re about making somebody pay, and pay a lot, $3.5 trillion a lot.
Do you actually think that the Dems’ math calculations are an accurate depiction of reality? Under their greedy eye shades, they make some artificial sense, but that assumes people won’t try to avoid the whip hand of the IRS, who, by the way, will be given an additional $78 billion to hunt us down. In the real world, they won’t get that much, but the money spigot will still be cranked wide open from the Treasury Department to the Fed’s open market operations to a flood of dollars chasing fewer goods. Meaning . . . i-n-f-l-a-t-i-o-n, big time.
We don’t need Milton Friedman to remind us “inflation is the cruelest tax of all”. We’ll live it. So, add this monster extraction on top of all the other abuse. You’ll wake up one morning with a phone call from your accountant frantically advising you to change your portfolio, pronto, as your wife discovers at the grocery store that the price of everything in the basket doubled.
Scratch that long-planned family vacation to Disney World.
Why are we being forced to live this way? The answer lies deep in the synapses of the Democratic Party. For them, no social problem can be addressed without more government welfare spending. Also, their inner eco-totalitarian can only be satisfied with more crony capitalism and the power to coerce the population to live according AOC’s tweets, Congress’s airhead-in-chief.
Commissar Ed Markey (D, Mass.) put it quite succinctly, “. . . the Green New Deal is in the DNA [of the reconciliation bill].” For instance, the greenies get their own version of the Young Pioneers (official USSR communist youth group), or Red Guards (of Maoist fame), called the Civilian Climate Corps, to conduct unspecified “green” actions. It could mean anything from door-to-door canvassing to pressure residents to turn down their thermostat to Portland-style “peaceful” protests.
And trillions of dollars in giveaways for electric bikes, solar panels (of course), advocacy of “environmental justice” (anything “justice” in their mouths means CRT), university grants to push the agenda, massive greenie “weatherization” campaigns, worker retraining away from the things people actually want (cars, trucks, air conditioning, single-family homes) etc., etc. Combined with the tax punishment, we’ll end up with a life of California-style energy prices, California-style capital flight, California-style welfare dependency, California-style shortages and inflation, California-style dirty commutes in gang-infested mass transit, and the rest of the social and economic miasma that is California. And our airhead-in-chief will call this Shangri-La.
Do you think that they’ll stop with the federal budget? Hogwash. Remember, they’re totalitarians, and, as such, they care just as much about what you think as what you do. The indoctrination will be pressed into the minds of the kids by curriculums and teachers. Nothing will escape the commissars’ gaze. Criticism of your diet will be part of the lesson plans: meat bad, veganism good. Just picture the teacher in her reading session with the kiddies seated around as she reads “Heather Has Two Vegan Mommies”.
The way is gradually being set for a Stalin-like war on the peasants, or actually the farmer, for producing the stuff that goes into my burger-and-a-Bud. Cattle flatulence, stockyards, farming the plains and woodlands, production of implements and fertilizer, and much more, disrupt the greenie utopia. So, expect the now-common shaming campaigns, penalties, and bountiful awards from the public treasury corrupted by gazillions of meaningless dollars. “Let them eat cake” is readjusted to “Let them eat tofu”.
Is this any way to live? Our economic and social lives are wrecked by COVID-hysterics, the public fisc of a drunken sailor that is an insult to drunken sailors, and militant social engineering based on the loony platitudes of The Squad — and the rare pleasure of a cheese burger and fries will be treated as deviant as pedophilia. My only solace lies in the fact that the Russian people managed to put up with it for 80 years and survived . . . albeit with a Putin helmsman-for-life, rampant alcoholism, a stagnant economy, and a disappearing birth rate.
Reading time for the kindergarteners might be better served by preparing the kids for a life of perpetual COVID shutdowns under an eco-Politburo. “Heather Lives with Her Mommies in a Dirt Floor Hut and Her Sisters Died in Infancy” might be a better choice for reading time. By the way, Heather cries a lot.
Ii comes down to a basic question: How many body blows can a nation endure before it is irreparably damaged? I don’t know, but these hits come from the worst possible source: our wildest imaginations put to practice absent much restraint.
Dégringolade: noun; a rapid decline or deterioration (as in strength, position, or condition), downfall.
Pres. Biden and Senators in front of the White House, August 12
The Democrats running the show in DC have passed a $1.2 trillion infrastructure bill – $550 billion billed as “additional spending” – and approved on a party-line vote (50-49) the Socialist Bernie Sanders’s $3.5 trillion “reconciliation” blue print. We are throwing money to the wind and will reap the whirlwind. We’ll get little for it but a national wasteland.
We could end up as the next Argentina. Argentina presents an abject lesson in the effects of drunken-sailor public finance. The Latin American country in 1970’s and 1980’s faced a debt crisis and began to wildly print money to address it. The result was an annual inflation rate that averaged 300% from 1975 to 1990. Middle-class purchasing power shrunk 30%. What is waiting in the wings as we embark on our own colossal spending binge, almost all of it from borrowing, bloating the national debt to such astronomical levels that the only way out is the one paved by Argentina? Could this be the beginning of the USA as simply another failed state?
Dire? Yes, because the numbers point in that direction. The national debt is scheduled to balloon from $17 trillion to $40 trillion over the next decade.* To put it in perspective, 1 trillion square miles would cover the surface of 5,000 earths; 40 of them would amount to 200,000 planet earths. There’s no solace in the fact that I won’t be around to experience the worst of it. My kids and grandkids will live to see their country become a basket case.
Much of this bloat will be swallowed up under “infrastructure”, which the most recent little and big sister editions aren’t. It’s a race-mongering, greenie utopian, nation-building exercise. It’s infrastructure to produce a faculty-lounge Soviet Union.
Leaving that aside, let’s take a closer look at the $550 billion mini-monster (remember, it’s $550 billion in $1.2 trillion) coming down the pike. Simple question: Is it even necessary? No. State and local governments currently spend $500 billion on real infrastructure. It’s not that there’s no infrastructure expenditures without this monstrosity. The drunken sailors in charge of the federal fisc are burying the cupcake of state spending under a gargantuan load of ice cream of federal cash. Don’t expect a cherry on top. Look forward to a belly ache and diabetes.
So, there’s no shortage of cash for “infrastructure”, if we understand that 500 billion hours ago would place us in the onset of the Early Eocene Period, which would leave another 56,762,626 more years before we started to walk upright. What happened to this interstellar load of dollars to justify an additional intergalactic heap? Well, it’s essentially wasted. Once again, the numbers are dispiriting.
Spending reform isn’t in the cards, just more cash. The problem isn’t that we don’t spend enough. It’s that we squander so much of it. Union featherbedding in the form of Davis-Bacon, and the little Davis-Bacons (state), bloat the cost of these projects by 22%. With federal Project Labor Agreements, labor costs are ballooned 30% when more workers are mandated than comparable projects in the European Union. It’s a sweet gig for the union hall, but in the end, we’ll still be plagued with crumbling bridges and interstates and a national debt that’ll relegate more of our children to pauper status.
Remember Obama’s measly $787 billion stimulus bill of 2009 which was supposed to produce those “shovel-ready jobs”? “Shovel-ready” ran into the buzz saw of entrenched environmentalism. Those lovable Environmental Impact Statements (EIS) in federal law, to be combined with Environmental Impact Reports (EIR) in states like California, empower environmental jihadists to delay and run up costs till they have squashed the thing and the proponents throw up their hands in disgust.
Nearly every step on the approval path is plagued with public hearings. A great idea, right? It seems peachy till you notice who’s attending. Let me tell you it isn’t the young family breadwinners negotiating clogged freeway traffic trying to get to work or the grocery store. It’s the traveling troupe of eco-zealots who seek to make mincemeat of planning commissioners and building department officals. If that isn’t enough, the laws give the same lunatics the right to sue, which frequently shoves the project back to the EIR/EIS level and a restart of the whole rigmarole.
California set the tone at the state level with the California Environmental Quality Act (CEQA) and the creation of new commissions and boards like the Coastal Commission. Others were empowered like the Air Resources Board and the sundry Air Quality Management Districts scattered throughout the state. Other states followed suit. California gave us Silicon Valley . . . and Ottoman regulatory efficiency. As a result, will we go the way of the Ottoman Empire, courtesy of the golden state?
Putting a number to the scene, EIS’s take 7-25 years to complete, depending on the availability of legal talent and motivation to mash up the works. Eco-zealots have both in ample supply. I’m reminded of Rachel Maddow standing before the Hoover Dam in 2011 wondering why we don’t seem to be able to accomplish big-scale feats anymore. Apparently, it never occurred to her that her eco-allies had something to do with it.
Rachel Maddow in front of the Hoover Dam, 2011
Disgorging a couple of humungous bills through Congress can only be considered a win in one sense. They were examples of a group of overpaid, insular politicos in DC getting more votes than the opposition in a couple of rooms in the capitol building. They won’t be wins for the American people, particularly the young and the ones yet to be born. Our children will be burdened with a legacy of dégringolade.
RogerG
*“Time to Move On from COVID Capitalism”, Kevin D. Williamson, National Review, April 5, 2021
A LAUSD bus driver joins school workers at SEIU Local 99, which represents about 30,000 support workers, as they march at Marlton School in February 2018. (Al Seib / Los Angeles Times)
40 years as a one-party state has made California very vulnerable to bear markets, like the one that we’re experiencing right now. Sometimes black swan events can come in the form of a virus and the effects move down the money digestive tract to the California taxpayer. Watch out taxpayers, pensioners, younger government employees and the whole gamut of local governments.
There are two bears stalking the state. One is the huge bond and pension indebtedness and the other is the public employee unions. The second one gave birth to the first one.
A local newspaper headline announces bankruptcy in Stockton, California June 27, 2012. (REUTERS/Kevin Bartram)
Here’s the scenario. Unsustainable defined-benefit public employee pensions – the most expensive to maintain, as opposed to the defined-contribution kind – requires a high rate of return to successfully service the payouts to retirees like my wife and I. The coronavirus bear market has shattered the 7 percent rate of return to adequately fund CalPers, CalSTRS, and any others out there. The pension bear was beget by the public employee union bear, the most powerful lobby in Sacramento. Who’ll make up the loss? If you said the taxpayer and lower-rung government employees, move to the front of the class.
The pension fund managers will go to the one-party state, which is housed in the state capital, to make ends meet. These clowns will then try to bilk more out of the “rich”. Already the top 1% of the state’s income earners account for 50% of the state income tax, which contributes 60-70% of the dough to the state’s coffers. What’ll happen? You guessed it: capital – meaning the “rich” – have already begun to flee to places like Incline Village just across the border in Nevada. Others seek refuge further points east. For a state that prides itself in its open heart for refugees, why is it so intense about making them?
Watch for how totalitarian taxation leads to totalitarianism. The State Franchise Tax Board is already manning up to scowl the nation for what it considers its truant millionaires and billionaires. We’ll see what the Supreme Court has to say about California’s attempt to fleece the new-found residents of other states. Does a state have the power to enter another state – literally or digitally – and force that state’s residents to prove that they didn’t spend 6 months in the People’s Republic?
The next in line to the guillotine will be local governments. To meet their pension obligations, they’ll have to layoff workers. It’s highly unlikely that the state with one of the highest combined rates of taxation in the nation can squeeze any more out of local residents. To pay the bill, they’ll have to raise the contributions from a shrunken workforce.
And what’ll happen to current retirees (like myself) whose retirement decisions were based on contractual obligations over a 30-year career? I’m nervous for the bear in the woods. Little did we know that Reagan’s 1984 commercial would have relevance beyond the Soviet threat. Watch the 1984 ad below to get my point.
The situation is clearly laid bare in a podcast interview of state Senator John Moorlach (R., Costa Mesa) by Will Swaim of the California Policy Center. You can listen to the discussion by clicking on Moorlach’s picture.
I was listening to Pandora’s “Cool Crooners” station this morning. A thought occurred: What makes Frank Sinatra, Frankie Valli and the Four Seasons, Dean Martin, Nat King Cole, and Tony Bennett, among others, stand head and shoulders above your uncle Fred who just so happens to have a good voice as he works at being a very good CPA? Is their success an accident? Certainly, many factors account for their fame, but in the hustle and bustle of life they congealed into excellence. They had a special talent.
Joseph Schumpeter, Austrian economist
What’s this got to do with economics? A lot. The economist Joseph Schumpeter made it abundantly clear. The economy rides on the backs of a few very talented risk takers, whether it be Henry Ford or Jeff Bezos. The accomplished few weren’t just a collection of lucky mediocrities. At the core, this is a remarkably different story than the one peddled by the Democrats.
To justify their love of the state – the key plank of Progressivism – the Dems have convinced themselves of the bottom-up falsehood. In a nutshell, their favorite suggestion for the economic riddle is to confiscate from the rich, deposit the takings in the government, and then have public employees scatter a portion of the proceeds to the hoi polloi. Leaving aside the absorption of a sizable slice of the booty by a hungry bureaucracy and the political chicanery that is endemic to government, the gimmick remains pure, unadulterated economic nonsense.
It’s as if the Dems will create jobs by punishing job-creators. That’s right, they believe that they can confiscate from the people making thousands of jobs and expect the poorer rungs to more than take up the slack with their limited and desperate consumer spending. The rich guy and gal (or the 38 other genders) can’t help creating jobs, even if they fritter away their gains on yachts, private jets, and California coastal real estate. Talk to the guys and gals building the mansions, making the yachts and fancy jets, or the hirelings who maintain or captain them. How many jobs can we expect from a Section 8 housing recipient?
Section 8 housing recipient
Let’s face it, the donkey party isn’t about economic sense. They’re all about class identity – as well as the other identities on their long scroll – and class victimhood. They’ve got too much Marx rolling around in their heads. In the end, the scheme won’t pencil out. These materialist levelers forget that the economic pie isn’t a static thing. Yes, some peoples’ slice grows bigger than others, but in reality, all slices expand. That’s the beauty of a growing pie. The pie is dynamic, not static.
The Lefty alternative is like what happens when the Chinese bound the feet of young girls. Everything gets mangled. Specifically, it’s a mad scramble to take as much for yourself from the only treasure chest in the room. The government becomes the weapon to wield against your rivals. In the end, you’ll find the chest empty, and more than that. It just got smaller.
Now you end up like North Korea. What rich person – you know, the guy or gal who made all those jobs possible in the first place – will wait around for Bernie Sanders, et al, to confiscate their gains? The Sanders crowd will only be able to do it once. The next year, the successful are gone –- along with the jobs.
The UK called it the “brain drain” of the 50’s, 60’s and 70’s. Many talented Brits escaped their country’s King Kong taxman by fleeing to the US. The Beatles even made a song about it (George Harrison’s “Taxman”). Nancy Pelosi and company want to replicate the Labor Party’s economic reign of terror.
For Trump’s America, the proof is in the pudding. CBO numbers on the post-Republican tax cut economy are out. The tax cuts are a financial winner; unemployment is at historic lows (for all of the Democrats’ favorite identities); GDP is growing faster than Paul Krugman’s reputation is declining; wages are rising; and corporate profits are bountiful enough to demand more workers – i.e., more jobs and higher pay – and pay more lucrative dividends. Either way, it all adds up to an economic renaissance.
It’s the same playbook of the 1946/1948 Republican Congresses, JFK, and Reagan. The only response of the Democrats is the caterwauling about the filthy rich, with their emphasis on “filthy”. They deserve to be relegated to the place that used to be reserved for the psychotics, but, today, congregate in the tent cities of the Dems’ strongholds in the LA-to-Seattle corridor.
California governor Gavin Newsom announces the end of the high speed rail project, Feb. 12, 2019. (AP)
Is it a coincidence that the Green New Deal is all the rage as 43 states have legalized the relocation of dime bags of pot to the aspirin isle of the pharmacy, if not the produce section of the supermarket? Our teenage central planner’s (Ocasio-Cortez) afterbirth – The Green New Deal – disappeared without a trace as people began to realize the insanity of reshaping our society according to the musings of sophomores in pot-smoke-filled dorm rooms.
The same fate awaited the LA-to-SF bullet train because the idea probably originated in the same dorm room.
What’s left is a rump. Were the same young and addled geniuses responsible for a bullet train from … Bakersfield to Merced? With the fiscal probity of drunken sailors, Californians showered $5.4 billion on the $100 billion psychedelic vision. Virginia’s governor, Ralph Northam, showed the way out of the morass: allow it to be born – Bakersfield to Merced – and then abort it. Gavin Newsom, California’s hair-gelled governor, played the role of Kermit Gosnell.
