Politics, The Economy, and More

I'm not even sure a good share of the republic...

2011-05-12T06:57:24.740-07:00

I'm not even sure a good share of the republican candidates even understand what Mauldin was saying. I worry that most of them have just picked up the "decrease the deficit" chant without thinking deeply about it. Overall I'm not feeling super hopeful for the upcoming election season.

Sitting on the cusp of what is the assumed retirem...

2011-04-17T15:04:50.727-07:00

Sitting on the cusp of what is the assumed retirement window, I can see this couldn't be more true. 13 years ago when I started getting my own spiritual house in order, it was neither a fun nor particularly rewarding (monetarily, at least) experience. We are now starting to really get there, finally, on a monetary basis. Where we couldn't balance the books on $110k/yr, we now are making progress on $80k. It had to do with a promise we received at the time that if we were faithful, we would "have sufficient".
Now my idea of sufficient has not always been in line with the Lord's, but he has always been right.
As for our country, the massive moral obligation known as Social Security has nothing in the bank, is now running an annual deficit (last year was the first and it was $3B), and the big wave of entitlement babies has barely started. (I would argue that the special issue bonds held in a vault in West Viriginia, issued by the US govt in exchange for revenues collected by the IRS as FICA taxes, which were then spent as general revenues, with the IS bonds payable to the US govt, do not constitute a liquidable asset.)
So what do we do? Raise ages for early and regular retirement. Reducing scale of benefits depending on post retirement income, although this rewards profligacy by those with large pre-retirement incomes. Change Medicare from central pay to premium support with a wide array of options rather than the soon to controlling IPAB (rationing board). Block grant Medicaid and do away with all fed control. Sell all BLM and most Forest Service lands to make them productive and tax paying as well as to pay off national debt.(Takes about 10 years to do in an orderly way to avoid fire sale giveaways). Do away with most non-defense fed programs.

I agree. I was thinking about all the welfare iss...

2011-04-14T07:49:00.279-07:00

I agree. I was thinking about all the welfare issues and etc, and would cutting it off be more tragic than someone losing a job? I know that oversimplifies things a bit, but its gotta happen.

These programs are a joke. In some ways I am glad ...

2011-03-01T07:22:47.597-08:00

These programs are a joke. In some ways I am glad only $1B has been spend but that means there is a big question mark as to what is happening or going to happen with the other $74B? My hope is that it is just absorbed back into the budget but we ALL know how that really goes.

As for the way the program works... well it's a joke. There are so many holes that they are able to deny anyone AFTER stinging them along long enough to have caused serious default even if the person complied exactly with what they were told to do.

If you are reading this and considering a modification... do NOT do anything unless you have talked to a HUD agent and, even then, make sure this is the absolute last resort.

I know a family that the husband lost his job (layoffs) and his wife was on medical rest because of a really hard pregnancy and they tried for a modification. After being strung along for 2 years on "trial payments" they were denied and lost their home.

This program made a lot of politicians look like heroes but it has honestly been more of a detriment than a help to America.

Actually, he is promising to drink only what he di...

2011-02-17T18:56:53.204-08:00

Actually, he is promising to drink only what he did yesterday plus one more high ball.

China is a problem in that we are looking at a mer...

2011-01-30T15:38:33.035-08:00

China is a problem in that we are looking at a mercantilist economy that is basically in an untenable position. It racks up its foreign currency accounts through large subsidized manufacturing ops plus focusing on low cost mass producable items that it floods the market with. When the bill comes due to build the support infrastructure and taxes are extracted, many of these businesses go poof. It appears to me to be a smoke and mirrors economy that one hickup in the US will bring down. Hard.
The deficits have reached unsustainable levels because they are outpacing growth of GDP. THE Bush trick was to allow growth and the national debt to maintain proportionality, and so it never got out of hand. That is until a big recession hit. Of course, part of this was trying to fight a war(which I consider essential) without stressing the economy. We did not so all we needed to do or should have done, but we nade progress. This was okay until the Happy Days crowd got into power.
Now with the Great Depression redux, the crash is upon us. We can only grow our way out if we remove 99% of the regulatory burden. This will not happen. So, we are most likely doomed for the foreseeable future.

It's nice to get a non-alarmist perspective on...

2011-01-29T07:37:08.767-08:00

It's nice to get a non-alarmist perspective on things. I do wonder what the financial ramifications of Egypt's problems are, though.

You forgot that we all get to look forward to the ...

2011-01-28T16:09:11.212-08:00

You forgot that we all get to look forward to the presidential election season starting this year (so that we all get to listen to those talking heads for over a year like last time) ;)

I agree with you Maegan. I went to college and ca...

2011-01-28T13:59:32.712-08:00

I agree with you Maegan. I went to college and came pretty darn close to getting a degree, but at the time I was working in my chosen career and had progressed enough that I felt (and still feel) that the degree didn't give me any more of an advantage over my competition. I am a firm believer in life-long learning and I would rather study subjects on my own.

I also agree with what Tom said in that getting a degree doesn't mean you're smart or know any more about your chosen major than those without. All it means is that you had money and could jump through the hoops. Sure there are a lot of people who actually used their college time to learn and grow and most likely gained valuable insights that I still haven't learned, but I think there are more who got the degree who still have no clue and can't compete with our international competition.

I am the only person in my department who does not...

2011-01-27T16:26:20.084-08:00

I am the only person in my department who does not have a college degree and I feel as though I grasp the work requirements much better than my coworkers. I also consistently receive the highest reviews. I chose work experience over education and I have a very good corporate job. Obviously, for some professions work experience isn't enough. But making college an absolutely essential part of a person's career path isn't logical. I think the culture of education needs to change. Thanks for posting this article!

That's interesting. I've also read elsewh...

2011-01-21T08:49:36.307-08:00

That's interesting. I've also read elsewhere about China's strides in weapons systems, particularly aeronautical. Between drones and reverse engineering the Russians' most advanced fighters (which, believe it or not give even our F-22 formidable competition) they are becoming a force to reckon with. The drones are still about 10 years behind ours, but at their rate of advancement it won't take them 10 years (although drones are no match for manned aircraft) and they could already be very effectively used for crowd control should the Chinese masses get too restless.

YES! I agree with both Matt and Cathy. I reflect...

2011-01-20T20:17:14.880-08:00

YES! I agree with both Matt and Cathy. I reflected on my own education, and I felt mine was a little above the average that was described, but still I understood the limitations and where it could have been better. Some semesters where I would have 200+ pages of reading due in a given week while others having only around 50 between all of my classes. A lot of people fudged the readings as much as possible (guilty upon occasion), and as I got into higher level classes, it was obvious those who tried to do as little as possible.

Cathy, I think you're right not only for higher education but high school as well. I think a diploma should mean something again.

I absolutely agree. It follows the old adage that...

2011-01-19T09:41:18.647-08:00

I absolutely agree. It follows the old adage that says those who are given everything appreciate nothing. If you simply need to wait out your degree and somehow find the funding (though it is ridiculously easy to do that much) you'll get a college degree. To be worth anything, it has to be exclusive. Not intentionally eliminating people, but having high standards that require work and growth and development. I think the system and requirements needed to be looked at as well.

Agreed. I also don't agree with applying it t...

2010-12-10T11:55:21.969-08:00

Agreed. I also don't agree with applying it to the Health Care bill, but his appeal is definitely true. But, at the same time a lot of the problems would be solved if the Federal government just didn't do as much and left more for the state and city governments, as was intended with a Constitution that limited the powers of government. Individual states tend to be a lot more homogeneous (relatively) than the entire United States and a coherent policy could more effectively be implemented.

It is true that they want to force equal outcomes ...

2010-11-17T07:13:58.877-08:00

It is true that they want to force equal outcomes instead of allowing equal opportunity. That this would make us all poorer doesn't matter to them. They will feel better about themselves by doing this to the rest of us.

I agree. I think it goes back to a previous post ...

2010-11-09T12:28:27.129-08:00

I agree. I think it goes back to a previous post on here from Statfor pointing out that we have become an empire and we need a leader who can truly lead that empire, not someone who is apologetic for what we have become.

The problem in the use of American power to accomp...

2010-11-08T06:48:00.676-08:00

The problem in the use of American power to accomplish things is that Obama, apiori, believes a ta visceral level, that American power is BAD. In fact it is the one REALLY BAD thing in the entire world.
Remember that power has uses, either to be accumulated as an end in itself, or to accomplish things in one's interest. President Obama frankly does not believe that America's interests are worthy or worthwhile, and so accumulation of power by America is wrong.
Welcome to a worse Jimmy Carter.

That's a really good point, Tom.

2010-10-30T18:42:53.656-07:00

That's a really good point, Tom.

In the quote, he argues that the president is the ...

2010-10-27T19:43:47.323-07:00

In the quote, he argues that the president is the one that can most successfully preserve the republic while managing the empire. I would say that while that is true, I also personally think that he is the greatest threat to the republic. I'm not calling for the end of the presidency, but I do worry about some of the muscling that the Obama administration has done on legislation, and alleged reports that he may govern through executive order if his majorities in congress disintegrate. Past experience with this sort of thing (FDR) has brought some of the worst moments in US history (Japanese Internment).

I wish I knew someone. I have been thinking about...

2010-10-27T15:21:22.363-07:00

I wish I knew someone. I have been thinking about the very thing that the quote from Stratfor discussed. We aren't the same country we were in the late 1700's. Not by a long shot. So, what can we do with what we are now. I agree that leadership really is key. I wonder if we are too far removed from our leaders. They can "reach out" to millions of voters through television without ever having to look anyone in the eye and pledge anything. There's something more binding and real about personal contact.

Let's just hope the voters in Massachusetts re...

2010-10-21T20:29:04.986-07:00

Let's just hope the voters in Massachusetts realize how poorly Frank has performed...and how he has lied to them.

We are definitely addicted as a nation to the doli...

2010-10-19T13:24:52.716-07:00

We are definitely addicted as a nation to the doling out of public moneys. And, just as the heroin addict, we need increasingly larger amounts of the drug to get the same effect. Evidently the US has an insatiable lust for easy/free money from everyone's favorite sugar daddy: Uncle Sam.

Uh...Wow. That's all I have to say. If that ...

2010-10-18T11:16:08.462-07:00

Uh...Wow. That's all I have to say. If that is true, then I guess the silver lining is that the private citizens will have less debt on average. Sure, the financial industry may crumble before our eyes. At least we will have a great time on the way down.

Good points! Another one I'd add is that so ma...

2010-09-20T18:22:37.327-07:00

Good points! Another one I'd add is that so many women are working that shouldn't be. If the women that don't need to work (ie: their husbands make enough money, but the women don't want to stay home/want more items/want out, etc) would actually stay home with their kids, then there would be more jobs opening up. :)

Why would they listen to businessmen? They're...

2010-09-16T10:14:15.305-07:00

Why would they listen to businessmen? They're just out to make themselves rich, and besides which the politicians know better than anyone what to do. They said so themselves.