The Federal Government's Pension Benefit Guarantee Corp. is going to need a bailout. That is not news to readers of the AEC.
At some point all of the folks that don't have a pension of any sort (taxpayers) are going to get pissed at the idea that the have not's are going to get soaked to pay for the have's (government employees, union members). It is one thing to save the entire financial system by giving the banks a bailout - it quite another to bailout one group of citizens at the expense of the others.
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I keep getting email and comments from folks who have mistakenly concluded that because I advocate farmland investment and some level of self sufficiency that I am a "Die Off Doomer".
Not the case at all. With each person that comes into the self sufficiency life style the threat of the "Die Off" scenario declines. I have seen reports that 20% of single family homes in America have a kitchen garden. Well, increase the size and number of these gardens (and ad some small livestock), and voila! No problem.
This is not to say that the fertilizer industry's warnings should be disregarded - you would be a fool to do so. It merely means that I am hopeful that people will do the right thing for themselves and their families. Here in rural Tennessee I see more and more people interested in home food production and preserving and it is my sincere hope that this will continue.
I can tell you from personal experience that it is very rewarding on many levels, enjoyable, soulful, a family effort far better than board games, and will keep you fit. Most of us live our lives in a frantic state. Chilling out in your garden, digging in the dirt, watching your stuff mature and ripen, beats the snot out of waiting at a red light on your way to the grocery store.
You don't need "doomer" drama to motivate and start a garden.
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Libertarianism is spreading, thankfully we haven't seen its nemesis, the Fascists rear their ugly skin head.
Here are some common sense policy ideas for cash strapped states from Mike Shedlock's excellent blog:
M1 - Cut legislative pay by 20%I could add a bunch of stuff to that list, but that would be a hell of a start.
M2 - Legalize Marijuana
M3 - Free all the prisoners on minor drug offenses
M4 - Privatize services starting with the prison system
M5 - Eliminate defined benefit pension plans for all new state employees
Mentatt (at) yahoo (dot) com
7 comments:
http://i408.photobucket.com/albums/pp165/bho_facist/DemoFascist320.jpg
Universal health care, firearm registration, mandatory youth 'volunteering', Politically Correct speech. Alles in Ordnung!
The Repuglicans are doing a great job of aiding and abetting.
This administration cares not one bit about the law where things economic are concerned, and I've not heard anyone challenge the legality of its policies.
The Germans gave up their liberty for the promise of economic security. It's a general trend in the evolution of socialism that when things get really screwed up, a strong man steps up to set things right...
Es ist nicht alles Gold was glaenzt!
Regards,
Coal Guy
I like Mish, but his solutions are pennies while he ignores the dollars. 80% of Federal spending (and I'm sure similar state spending) goes for five wildly popular programs: social security, medicare, medicaid, interest on the debt & defense, and unloading prisoners who cost $10 a day isn't going to save much. Sure, legalize weed, but if we can't make much on cigarette taxes, who says we'll make any more $$ legalizing the doobage. And you can cut all us awful bureaucrats' pensions & benefits, but be aware, we are not going to just drift away and be less hungry. We're going to complain until we get something else. Right now, we are "contractor-gaga" over eliminating the legacy (benefit) costs of government workers. Do you think you're going to get away with not paying benefits of some type to hungry, health care-starved Americans?
Bureaucrat,
And with what, pray tell, do you wish to be paid? There is no money left to fund these wildly popular programs. The US Government is just too big to support absent the credit bubble. Read Mish's continuing saga on the fate of California. If they laid-off the entire state workforce, California would still be in the hole.
If the Federal Government makes good on its promises at all, it will be in dollar terms but paid in much less valuable dollars. With uncapped COLA written into so many entitlements, I can't see even that happening.
All the whining and yelling in the world won't create a single bit of value. There was only so much to go around, and now there is less. When you figure out how to make wealth out of thin air, please send me some!
Regards,
Coal Guy
Bureaucrat:
Not the point. Of course marijuana will yield ZERO in taxes, the stuff grows like a WEED, remember?
State budgets are not Federal budgets. States BIGGEST expenditure after healthcare is their justice, law enforcement and "public safety" expenditures.
The funding for Treasuries is going to dry up - and soon - leaving the Federal Reserve as the Treasury debt buyer of last resort. This will leave the big 3 expenditures in free fall.
Or not. But my bet is yes.
The defense security (military, police,prison) financial,medical and agricultural industrial complexes in this country already constitute a pretty facist state, in the technical sense: merging of government with corporate interests.
We worship at the shrine of the "free" market. An in this case, Freedumb really isn't free.
How nasty it gets and whether it devolves into Nazism is still an open question.
All those dope smoking free love libertarians will be the first to knuckle under to the "Big Man" when he arises or disappear into the Gulag.
I bet Blackwater, aka Xie, is just full of Libertarians waiting to bring order to the streets of the USA.
For all you working class heros out there, the last time it was Pinkertons beating the shit out of your grandaddy for the Big Men of the day.
There's a reason the gubbimint got involved. Rockefeller, Carnegie, Morgan, duPont, et al would have instituted an iron clad feudal system without it.
Illinois state expenditures (I assume most states are similar) ...
30% Healthcare and Family Services
28% Education
17% Human Services
5% Public safety
so 80% of the state budget are the above items
I'm gonna guess the "liberal" part of the budget (Healthcare and Human Services) could be shortchanged on funding, but there would be a major outcry, and the same goes for education. California is on the edge of a cliff because they can't bring themselves to cut similar programs. So, you can talk about needed cuts and the apocalypse that will occur if you don't, but these hugely popular programs just aren't going to get cut by much .. period. You'd have more luck pushing the "waste, fraud and abuse" savings malarky.
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