Wonder how they sold Democrats on Obama’s astronomical debt? By bald-faced lying:
We are told that the burden of paying off the debt will be borne by our progeny, our children, and their children. But unless the Western commercial system undergoes fundamental changes, the children and grand children of most Americans will never have to bear this burden. Why? Not even governments can pick empty pockets. So if the debt is to be paid by raising taxes, the children and grandchildren of that 20 percent of Americans who hold 93 percent of the nation’s financial wealth will have to pay them. Most, if not all, of these people are also investors. Given the acrimonious debate about letting the Bush tax cuts for the wealthy expire, the chances of that ever happening are slim to none.
Will the debt then be paid by devaluing the dollar, by printing money? Many believe that the government will eventually take this alternative. Let’s say it does. Then all the dollars held by anyone anywhere will be devalued equally, including the dollars held by that same 20 percent of Americans. Again the wealthy 20 percent of Americans, having the most, lose the most. The devalued dollars they collect on their investments are merely added to their other devalued dollars, and the more the dollar must be devalued to repay the debt, the more the wealthy lose.
And finally, will the government default? Most seem to believe this to be unlikely. Perhaps, but isn’t it the best alternative? Investors will simply not be paid, but the rest of their money will retain its value unless other economic consequences reduce it. Even Morgan Stanley recognizes that “the sovereign debt crisis won’t end till deeply indebted rich country governments give holders of their bonds a good soaking.”
So relax, Americans, your children will never bear the burden of paying off the national debt. Just sit back and enjoy watching the wealthy squirm.
And Democrats, we all know, are dumb enough to believe this.
Speaking of Democrats being dumb, I used to sometimes impute malevolent motives to them and other scoundrels on the grounds that nobody could possibly be stupid enough to believe what they claimed to believe.
Then I read this in John Derbyshire’s wonderful We Are Doomed:
I was once friendly with a journalist who wrote a financial column for a downmarket London newspaper. He told me that the question he was most often asked by readers was “Since the government controls the printing of money, why doesn’t the government just print enough to make everyone rich?”
So clearly they are that stupid. But of course there’s no reason that we shouldn’t be subject to the politicians who these people elect. It would be elitist to suggest anything else.
I continue to collect evidence proving that not only the electorate, but also the elected, have long since lost control of the government to a great extent. Here are my latest links about this:
“Work expands so as to fill the time available for its completion.”
Liberals – those who do not insistently state that they live in a parallel universe in which terrorism does not exist – keep saying that they want to combat terrorism through “intelligence” rather than through military force. I’m not sure just what they mean. Maybe they had a vision of a bunch of college-educated white-collar sorts like themselves sitting in a nice cozy office somewhere sifting through files (which I suppose will be supplied by Santa Claus) and listening in on wiretaps until they hear, “We’re going to hijack Flight 77 and fly the jet into a skyscraper tomorrow,” and then they’ll have the police there to arrest everyone on that flight and strip-search them, little old white ladies as well as twentysomething Mohammedans because we can’t have profiling.
Of course, these twits have no idea how intelligence gathering is actually done, or what would be required to infiltrate a Muslim terrorist group. They probably think it’s just a matter of joining the right mosque and making pleasant conversation over labneh afterwards.
But really, we don’t even need that type of intelligence to thwart terrorism, only a much more basic kind. What on earth did anyone think would be the result of letting millions of Muslims into our country?
Speaking of Islam, via VFR I read an interesting theory about Mohammed.
[William Muir] demonstrates, step by step, that Jesus’ responses to the three temptations of Satan were the exact opposite of Mahomet’s behavior. Whereas Jesus refused to use his divine powers for his personal advantage or for power, Mahomet often used his (false) claim of direct divine authorship of the Koran for purely personal ends (such as his various murders and marriages), and, of course, to make his religious teaching into an earthly, conquering, political force. In other words, Mahomet yielded to the temptations that Jesus rejected.
I’ve alluded a few times here to my waning faith in capitalism and industrialization. (Waning faith should not be interpreted to mean outright condemnation.) Agnostic has elucidated one of the reasons why: How economic specialization led to the welfare state.
More than a quarter million British children have been accused of racism since the country passed its Race Relations Act in 2000, the Daily Mail reports.
Munira Mirza, a senior adviser to London Mayor Boris Johnson, says teachers are being forced to report children as young as 3 years old to the authorities for using alleged “racist” language.
“Teachers are now required to report incidents of racist abuse among children as young as three to local authorities, resulting in a massive increase of cases and reinforcing the perception that we need an army of experts to manage race relations from cradle to grave,” she wrote in Prospect magazine.
According to civil liberties group the Manifesto Club, 280,00 incidents have been reported between 2002-2009.
However much we may condemn Roissy’s morals, his insight cannot be faulted. For example, The United States Of Autoimmunity. He is even beginning to see the light about monarchy. When even libertines – people who take full advantage of the current system for their personal pleasure – can see the evil of that system, it is time to admit that things just aren’t working out.
CHRISTIANITY HAS BEEN DEMOTED BY THE POLITICAL CLASS by Theodore Dalrymple
There is a yet more cynical reason for the political class’s hatred of their own culture: it is politically advantageous to them. The mass immigration that has been permitted into Britain in the last few years, with the concomitant ideological glorification of the multi cultural society, has had as its purpose the production of a permanent change in the nature of the British population, which can be relied upon to vote for ever for the kind of politicians who brought it about.
It is one thing to encourage immigration because your commerce is so strong that there is a labour shortage but quite another when neither of those conditions obtains. Our commerce was never strong and there never was a labour shortage. We imported people while there was still mass unemployment (admittedly disguised as sickness) merely to create a vote bank for those who brought this about.