Category: The Economy

That Thing That Wasn’t Supposed to Happen

For years, the Left Wing has been agitating for hikes in the minimum wage. When conservative and libertarian critics have pointed out that raising the minimum wage increases unemployment, they respond that “studies” prove this not to be the case (said studies usually being deeply flawed and having little connection to reality). As I’ve said before: you’re going to have to go a long way to convince me that the law of supply and demand is magically suspended when it comes to wages.

Last year, Seattle raised their minimum wage to $15 an hour. How’s that working out?

Seattle’s $15 minimum wage law goes into effect on April 1, 2015. As that date approaches, restaurants across the city are making the financial decision to close shop. The Washington Policy Center writes that “closings have occurred across the city, from Grub in the upscale Queen Anne Hill neighborhood, to Little Uncle in gritty Pioneer Square, to the Boat Street Cafe on Western Avenue near the waterfront.”

Of course, restaurants close for a variety of reasons. But, according to Seattle Magazine, the “impending minimum wage hike to $15 per hour” is playing a “major factor.” That’s not surprising, considering “about 36% of restaurant earnings go to paying labor costs.” Seattle Magazine,

According to the Washington Restaurant Association, restaurants currently spend 36% of their income on labor. This hike could send that as high as 47%. Very few businesses operate with that massive a profit margin. They either have to fire employees or raise prices to compensate.

Restaurant owners, expecting to operate on thinner margins, have tried to adapt in several ways including “higher menu prices, cheaper, lower-quality ingredients, reduced opening times, and cutting work hours and firing workers,” according to The Seattle Times and Seattle Eater magazine. As the Washington Policy Center points out, when these strategies are not enough, businesses close, “workers lose their jobs and the neighborhood loses a prized amenity.”

Right now, this “grand experiment” is producing panic. We’ll see how things look in a year. Keep in mind that increased prices will move many of the poor out of the city completely, which may dim the impact of this on paper. But even with that cushion, this is looking very bad.

Told ya so.

UNEXPECTEDLY! They spend a shitload again

We have had discussions here about the fact that the Obama administration has presided over an unprecedented growth of deficit spending and US debt. Most of us have pointed out things are not good and heading in the wrong direction. Some have argued otherwise. This administration looks like it wanted to settle the argument once and for all:

WASHINGTON (AP) — The federal government ran a bigger deficit in January, pushing the imbalance so far this budget year up 6.2 percent from the same period a year ago.

The Treasury Department said Wednesday the deficit for January stood at $17.5 billion compared to $10.3 billion a year ago. For the first four months of the budget year that began in October, the deficit widened to $194.2 billion from $182.8 billion during the same period last year.

The budget deficit has gradually narrowed since 2012, which was the fourth straight year in which it topped the $1 trillion mark. The improvement reflects the country’s economic recovery from recession. The government is seeing higher tax revenues as people go back to work and smaller payments for safety-net programs such as unemployment assistance. It also represents efforts by Congress to control deficits through higher taxes and across-the-board spending cuts.

First off, the AP political hacks are full of shit when they pretend there has been an economic recovery of any kind. These assholes have been playing fast and loose with the numbers for 6 years now to convince people that the idiotic tax and spend, big government nanny-state, central planned practices favored by the collectivists in charge, actually work. But the facts are that the only people doing well are the super-rich and the freeloaders. And of course the political class has really raked in the dough and drastically expanded their ability to lord it over us serfs. The middle class however, is getting hammered. The number of employed people in this country is at an all-time low, and the trending shows that it will go lower despite all the efforts to pretend otherwise. The number of freeloaders has also hit a new record, and the trending shows that it will continue to go up. The really rich, the people the left loves to pretend to hate, are raking in the cash. The country is being invaded, by design, and with help from the nanny-state entities in our government that want to fundamentally change the balance of power by making the freeloader class undefeatable at the polls. That’s “social justice” and the signs of an economic recovery for the left I guess.

Recovery my fucking ass. And the government is raking in a ton of cash in taxes despite their actions and efforts, mostly by fucking over businesses and the upper middle class. The point that should never be lost is that the left will never lower spending. These excuse makers responsible for this propaganda piece masquerading as news all but admit that they are cool with the insane jump in spending, because the tax revenue is up! The label “Tax and spend” is absolutely accurate. I bet they saw a projected 3% jump in revenue, so they did a 6.2% jump in spending. That’s what leviathan does.

We need to get rid of the collectivists and dismantle the “vote for a living” state they have created before the whole house of cards comes tumbling down.

Too big to fail uber alles!

Why would anyone be surprised to find out that collectivists pretending to be solving a financial problem opted to implement more of the too big to fail and centrally planned solution, despite the fact we have history showing this approach will lead to trouble and failure?

A new study by Marshall Lux and Robert Greene reports that since the enactment of Dodd-Frank community banks have lost market share at twice the rate that they did prior to Dodd-Frank.

The authors note that many of the regulations implemented pursuant to Dodd-Frank are not linked to the size of the institution, thus there are economies of scale in regulatory compliance. Thus, regulatory costs tend to fall proportionally heavier on smaller banks, which, in turn, tends to promote consolidation of the industry (as I noted several years ago when I predicted that Dodd-Frank would promote industry consolidation).

The study has lots of interesting data on the industry patterns of lending by various types of banks as well, most notably that large banks tend to make fewer agricultural loans than community banks.

This result was to be expected and is only news to people that believe doing the same old dumb pseudo-marxist shit will suddenly produce a different result. If anything, history, replete with examples of how this stuff fails, stagnates, and breeds inefficiency and trouble, shows us that the statists on the left believe in an unholy alliance between state and big business. In their minds it provides them with the ability to micro manage and centrally plan. That it only serves to create a monopolistic environment where innovation and cost reduction are destroyed by ever growing protectionist regulation and that the people forced to deal with these entities lose out, seems to escape these moron’s ability to cogitate.

The demcorats created the “too big to fail” entities they then successfully managed to convince an ill informed and low information based public was Boosh’s fault. Dodd-Frank upped the ante here. Those of us that pointed that out were told that it was needed to curtail evil people in the financial industry, as if the problem wasn’t with the system, the rules, and implementation of contradictory and bad regulations that encouraged the bad behavior in the first place. People should not be surprised that what we end up with will be giant unresponsive, bloated, inefficient, and costly financial conglomerates, in bed with our own government, and a system that remains fragile and prone to costly and painful implosions.

But don’t worry. The democrats responsible for the problem in the first place will be more than happy to throw oodles of tax payer dollars, syphoned from the productive, at the problem. Then they will blame the rich, the financial sector, republicans, and anyone they can conveniently scapegoat instead of themselves and their wealth redistribution schemes and scams. They will demand the right to fix the problem they conveniently blame on others, like they did when they created Dodd-Frank. And when their regulation results in even more of the same, but just on steroids, they will rub their grubby hands together and laugh at the envy and jealousy driven idiots that will go along with them yet again.

Collectivism sucks.

Real world intrudes on stupid collectivist’s delusions

My state, “The People’s Republic of Connecticut”, overrun with moochers and other blue staters that have been living large on the work of the few productive, is in dire economic straits now that its government has done what the left always does: mismanage their tax & spend agenda. So now, with skyrocketing taxes and an orchestrated class warfare campaign backfiring on them they are worried about the super rich moving:

“There are probably a handful of people, five to seven people, who if they just picked up and went, you would see that in the revenue stream,” said Kevin Sullivan, the state’s commissioner of the Department of Revenue Services.

I hope these people move. Even if the collectivists that are running the place into the ground would then just solve the problem by jacking up taxes on the middle class, yet again. It would be worth watching their anguish. How dare people do what is in their best interest when collectivists with their own idiotic agenda want things from them? And I bet that everyone of these super rich are democrat donors and voters. Fucking idiots.

It is only a failed presidency if you don’t understand the destruction is by design

Town Hall has a post up dealing with Obama’s failed presidency. Those of us that no longer remain in the dark know better. Obama has achieved a lot of what he set out to do, as he promised he would when he made the claim he would fundamentally transform America, but the problem is with the people that think he meant to improve things. To the left and Obama the only failure on their part was to not straddle us with even more destructive marxist bullshit. More fast growing debt, millions of illegals sucking at the government’s teat, millions of people unable to find work and forced to suck at the government’s tit, millions of people that have made sucking at the government’s teat their way of life, and the middle class under assault and driven to collapse by the government tax and regulatory burden, have all been bonuses to these fucking crooks. That’s the plan they had from the start, because they think we are all too stupid and in need of micro management.

Oh yeah, the LSM must be doing battlespace preparations for the coming elections as well, considering the number of articles telling us that lying is not a bad thing. Sure this is not really about politics, but this belief that lying is a good thing is part and parcel of the left’s modus operandi. Remember Obamacare? Shit, might as well say “remember the Obama presidency?”, because it has all been lies and criminal acts.

The Minimum Wage Kills Jobs, Part 5529

Of all the sounded-clever-but-was-actually-idiotic things Obama said in the State of the Union address, this was the most cleverly-sounding-but-really-stupid:

And to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, go try it. If not, vote to give millions of the hardest-working people in America a raise.

As I said, sounds clever. A bunch of liberals in my Twitter feed said the equivalent of, “Oh, snap!” But the reality is that you’re not supposed to be raising a family on minimum wage. Minimum wage is an entry level wage, a wage to get your foot in the door for future better-paying jobs. I made minimum wage once. Actually, I made less than minimum wage because I was paid in cash under the table. But I was a teenager, so it was fine.

The biggest reason to oppose the minimum wage, of course, is the Law of Supply and Demand. If you artificially set the price of something high (low-skill labor), you will find that people learn to live without it (i.e., they stop hiring people). We’ve been told this is a myth, despite clear evidence that it’s not. Well, here’s another example of this thing that supposedly never happens:

In November, San Francisco voters overwhelmingly passed a measure that will increase the minimum wage within the city to $15 per hour by 2018. Although all of us at Borderlands support the concept of a living wage in principal and we believe that it’s possible that the new law will be good for San Francisco — Borderlands Books as it exists is not a financially viable business if subject to that minimum wage. Consequently we will be closing our doors no later than March 31st. The cafe will continue to operate until at least the end of this year.

Many businesses can make adjustments to allow for increased wages. The cafe side of Borderlands, for example, should have no difficulty at all. Viability is simply a matter of increasing prices. And, since all the other cafes in the city will be under the same pressure, all the prices will float upwards. But books are a special case because the price is set by the publisher and printed on the book. Furthermore, for years part of the challenge for brick-and-mortar bookstores is that companies like Amazon.com have made it difficult to get people to pay retail prices. So it is inconceivable to adjust our prices upwards to cover increased wages.

The change in minimum wage will mean our payroll will increase roughly 39%. That increase will in turn bring up our total operating expenses by 18%. To make up for that expense, we would need to increase our sales by a minimum of 20%. We do not believe that is a realistic possibility for a bookstore in San Francisco at this time.

I will point out something else that they gloss over. It’s true that businesses like the cafe side of Borderlands can cover the minimum wage hike by increasing prices. But you know who pays those increasing prices? Primarily poor and middle class people who go to the kind of places — fast food restaurants, cheap bookstores, etc. — that pay their employees minimum wage. So you’re giving them money with one hand while taking it with the other.

This is a liberal bookstore ownership. That’s clear from the way they talk about this. But they point out that the minimum wage hike will increase their operating costs by 18%. Other business will see similar hikes. Do you know how many business are operating at an 18% profit margin? Very very few. And certainly none that are patronized by the poor and middle class.

Minimum wage hikes sound good and make liberals feel good. But they are a nightmare for the job market. If you don’t believe me, believe the guys at Borderlands. They have no reason to spew “right wing propaganda”.

The collectivists will NEVER let that happen

And by “That”, I mean anything that undermines their centrally planned, leviathan owned, healthcare system destroying, economy crushing Obamacare scheme. The agenda is after all to destroy the healthcare system as we know it in the US so they can then peddle the single payer system they want. So the new republican proposal that actually would make changes to that wouldn’t destroy the healthcare system and the country economically will both be demonized and undermined to make sure it won’t interfere.

Thursday, we are unveiling our vision of policies that would strengthen our health care system while reducing federal spending and taxes. The Patient Choice, Affordability, Responsibility and Empowerment (CARE) Act outlines specific ideas that could replace Obamacare with more choices and higher quality, while protecting those with pre-existing conditions.

And that is why democrats want it to be DOA and will do everything to derail it. Not a fucking chance in the world that they would want something that actually fixes any of the problems they have managed to exacerbate with Obamacare. It undermines their powergrab and would make it obvious that’s what Obamacare was all about once it is implemented and works.

First, our plan would lower health care costs by empowering millions of lower and middle-income families with a refundable tax credit to purchase private health care coverage of their choice. They would no longer be subject to an individual mandate and limited to Washington-approved plans. Workers for small businesses would be eligible, too.

WTF? No central planning? No government meddling and use of force to comply? More importantly, you remove the politician’s ability to get their hands on money they let people borrow and deny them the ability to play with those people’s lives if they refuse to comply? Who is going to make sure insurance companies only make the profits that their masters in government fell are OK, huh? That’s insane!

By scrapping dozens of mandates, we estimate premiums would drop, on average, by double digits. We’d also reverse harmful changes that limited consumers’ ability to save and manage spending through health savings accounts and flexible spending accounts, and we’d encourage small-business insurance plans to give smaller employers better and more affordable options.

Are you fucking insane? Low premiums only help people, not the power hungry nanny state politicians! And why would you ever want to trust people to manage their money? Without the threat of force from government they will make the wrong choices, don’t you know? Affordability is something, according to Gruber in his rare moments of telling the truth, that you pretend you are giving people, but it is of no concern. Did the CBO even score this bad plan? What was the fixed/rigged system you gave them to make it look palatable, huh? We had a doozy when we got them to score Obamacare and make it look good. WTF do you have?

This sort of nonsense is what I expect to hear from them and their lackeys in the LSM. They will then follow it with the “But what about the poor people denied because of preexisting conditions that used to not be covered?”. Well:

What our plan would not allow is a return to the days before Obamacare when insurance companies turned away patients simply because they were sick.

Under our proposal, no patient could be denied coverage based on a pre-existing condition. We create a new “continuous coverage protection,” and if you change your job and buy a plan on your own, we would provide protections so you could not be denied coverage or be forced to pay a higher premium because of a pre-existing condition.

We would also ban insurance companies from imposing lifetime limits on a consumer, and we’d adopt age-rating changes, which lower costs for younger Americans. Individuals could stay on their parents’ health plan up to age 26, unless a state chose otherwise.

Oh snap! You have to wonder – no you don’t: I am being facetious – why the democrats didn’t do that and only that if they really cared about these people. People who because of the way Obamacare is set up can’t be denied but now can’t afford the care because of cost. Again: Obamacare was never about making healthcare affordable or available. It was about letting government get its hands on the money and decision making process, with the end game of crashing the existing system and then coming to the rescue with a single payer system they would otherwise never be able to sell anyone. It was just another giant wealth transfer scheme pretending to be something else.

Not only would our policies lower costs for patients, they would be good medicine for taxpayers. By scrapping Obamacare’s Washington-centered approach, we estimate our proposal would cut more than $1 trillion in taxes and reduce federal spending by hundreds of billions of dollars. All of Obamacare’s taxes would be scrapped, including the medical device tax, health insurance tax, pharmaceutical tax and other taxes masked as mandate fees.

In the coming months, the Supreme Court will hear and decide an important case regarding the president’s health care law, King v. Burwell. The justices should uphold the rule of law by overturning the administration’s unlawful decision to tax and spend through the federal exchanges. If they do so, we believe modifying and adopting some of the ideas outlined in our proposal could provide a path toward minimizing the disruption experienced by consumers.

Faster please. Kill this idiotic shit before it destroys the healthcare system and plunges the economy into an even more depressed state. Of course, getting this passed will be a monumental task, because the left will never admit that Obamacare is bad policy and that they had an agenda that wouldn’t be possible if it goes away.

Why is this news to anyone?

Here comes the BOOM!

Us Debt Interest vs. Defense & Non-Defense discretionary spending

Take a good look at that graph above. The WSJ created that graph to show how interest payments on US debt will balloon as interest rates finally adjust. The fact of the matter is that our government has kept interest rates artificially low, through a slew of costly tricks, schemes, and scams, in order to keep interest payments low. And their success is debatable. They had to right the interest index, by removing the cost of fuel and food, while throwing billions at the problem in the form of QE and other such stupid schemes, to prevent the interest payment from going over $200 billion a year.

These government games have wrecked the economy and caused serious harm to the middle class, which has been punished for doing the right things. This all has happened while these programs have made the already rich richer and transferred a ton of wealth from the middle class to those that vote for a living. There is a class war going on in the US, but the left has targeted the middle class in order to expand their voter base: the non-productive. But let them keep borrowing despite the fact they are expecting an unprecedented windfall.

Our problem is twofold. First off, we have a shitty economy. Despite whatever they tell you that the numbers represent, the truth is that most new jobs are going to illegals, with over 18 million illegals now flooding our job market, and the 5.6% unemployment rate is a gross exaggeration that masks how bad things really are. If there was any reality to the claim of steady job growth and low unemployment, consumer spending wouldn’t be at its lowest since 2009 and there wouldn’t be a gloomy view of the future. But them is the facts.

Secondly, we fucking spend too much, mostly because the political class wants to buy votes from people impacted by the damage caused by the legislation enacted as a result of the vote buying agenda. Socialist paradises always end up with the same play book and results, and we are heading that way. We need to get spending under control, and the only way that happens is if we cock-block the vote buying schemes. Time is running out on us, and we have a choice between the people that think the answer is a bigger economy and less government spending, especially to improve the quality of life of people not working in the first place at the expense of the middleclass and those working, and those that feel the problem is government and government spending isn’t big enough because people are keeping too much of the government’s money.

They Don’t Want a Welfare State; They Want a Plunder State

The strange thing about the 2014 election is that Obama seems to have taken it as a mandate … for more liberal polices. In addition to unilateral immigration “reform”, he has just released his budget proposal, which has massive tax hikes and spending hikes, no hint of entitlement reform and claims it will find $640 billion in deficit reduction (a paltry amount over the time frame) from tax hikes, immigration reform and, I believe, money imported from Narnia. It’s a fantasy budget that is making the hard-core liberals at Vox swoon but has connection to reality. And it puts the lie to the idea that Obama is a “conservative” as one newly-retired blogger has argued.

Here’s the thing, though. Liberals have long said that what they favor is a European-style welfare state (such as the one that imploded in Greece). Obama says this and his budget makes noises in this direction and is being praised as a step in that direction.

But the Democrats do not want a European welfare state. As much as they claim they do, that’s not what they want and not what they are advocating. If they really wanted a welfare state, they would be proposing something very different: huge tax hikes on the middle class.

The United States has one of the most progressive tax systems in the world, being very reliant on the wealthy for revenue. The European welfare states, by contrast, are more regressive, having flatter taxes and relying on VATs and sales taxes that are regressive. They have to be that way because you simply can’t finance a welfare state by taxing the 1%.

A welfare state financed by the rich doesn’t even work politically. When everyone is paying taxes, there is more support for a welfare state because everyone is pitching in. The perception is that you’re getting out something related to what you paid in, which is why Social Security and Medicare are popular in this country (both financed by a regressive tax that is denounced by Democrats for not soaking the rich enough). But a system that is dependent on taxing the rich isn’t a welfare state, it’s a plunder state. And as I’ve pointed out before, most people don’t want that. They don’t want to feel like they’re living on someone else’s dime or on stolen property. The Communists discovered this 70 years ago when they tried to “redistribute” estates to the commoners only to discover that the commoners didn’t want that wealth if it was stolen.

The gripping hand, of course, is that there isn’t any support for a huge middle-class-funded welfare state either, which Vermont discovered when they had to abandon their experiment in single-payer healthcare. And so the Democrats keep trying to sneak their welfare state through the backdoor. First it was taxes on the savings in 529 plans, which was quickly killed. Now it’s a tax on overseas earnings. Tomorrow, it will be more sin taxes.

(And if that fails, I expect them to embrace Modern Monetary Theory, currently being pushed by Bernie Sanders. This theory says that government shouldn’t worry about deficits; it can just print money. Taxes only exist to keep the rich from getting too rich. Seriously, that’s what it says. It’s like a politician’s wet dream: spend whatever you like and never worry about the bills.)

Thankfully, none of this is going to fly with the Republican Congress. But Obama’s absurd tax-and-spend proposal is a sign that we are still running out of other people’s money.

There is an agenda, and it profits them, not us

Because of the controlled and lying media in the US, which is both scrutinized and attacked by the people in power if they don’t play ball with the left and this administration, we are forced to get the facts about how fucked up things are elsewhere. Most of the time we are only able to glean the facts through the miasma of smoke & mirrors created by the LSM from the foreign press. Especially when we are talking about the economy or the economic impact of the shit done by the statists currently in charge. Case in point, and article of all things in Al Jazeera, pointing out the effects of the past six years of social justice policies by the Obama administration and the left:

The first data on 2013 incomes show continuing bad news for Americans, my analysis of a new Internal Revenue Service report shows.

Average income fell 2.6 percent in 2013, even though the economy grew 3.2 percent in real terms over 2012.

Average inflation-adjusted income in 2013 was 8 percent lower than in 2007, the last peak economic year, and 6.9 percent less than in 2000, the year President George W. Bush set as the standard to evaluate the effect of his tax cuts and regulatory policies.

This is the latest sign of a disturbing trend. An ever-shrinking share of national income flows to individuals while corporate profits expand.

Yeah, you might want to take this with a grain of salt because the report is compiled by a politically motivated attack dog of this administration that has been proven to target and attack the enemies of the state and has an agenda. And Al Jazeera, despite the fact that it was dumped by Al Gore the climate warrior to a conglomerate of oil men, also suffers from some credibility problems because of its usual anti-American agenda. But the truth is that we can glean most of these details that back up how terribly unjust these “social justices” schemes and scams the left engages in, for profit, by ourselves, and with just a little bit of research. The leftists love big business and hate small business, and the actions of the last 6 years show that. It is nothing more than that whole central planning shit that worked so well for communist countries rearing its ugly head with our credentialed elite class. The leftists in charge have pissed away trillions of tax payer dollars pursuing this unicorn, and things are worse than they were before, especially for the middle class, which they absolutely want to eliminate in their vision of what an utopian society should look like.

TARP, for example, was nothing but an attempt to keep afloat those companies that because of a couple of decades of horrible politically motivated legislations and behind the scenes encouragement to engage in horribly stupid and risky lending practices, followed by government assisted laundering of the bad paper tied to these politically motivated schemes and scams, got in huge financial trouble when the house of cards came crumbling down. Tax payers footed the bill for the obvious consequence that indubitably always follow in the wake of social engineering attempts like this one. That was accompanied by the left, under the pretense of to wanting to fix the problem they caused in the first place, and in the most self serving way possible, producing a slew of new legislation that did nothing to address the fundamental underlying problem, only to then come full circle again. Tax payers better be ready to have another trillion dollar or more bill served to them, some time in the not too distant future, to correct for the same problem that caused the previous meltdown.

Then we had the trillion dollar Porkulus bill that served to do nothing more than funnel a shit-ton of money these crooks stole from the productive to democrat friends, activists, causes, or donors. From fucking over investors in favor of their union buddies at GM to pissing away billions on shitty green projects that went nowhere, many connected democrats and democrat friends made oodles of money, often at the expense of others. Democrat politicians were then richly rewarded for that largess with fat donation checks. A ton of criminal shit happened too – check out old New Jersey’s governor Jon Corazine and how a big donation to the Obama administration let him get away with the crime of the century – and is still going on. Big money pissed away making democrat élites and their connected buddies rich.

And let us not forget Obamacare, which is by far the best example of how fucked up these “social justice” scams are, and was only passed by lying to the public at large about what the real intent was. In a nutshell, Obamacare boils down to the crooks in government that want to destroy healthcare in America – so they can finally force the single payer system they can’t get otherwise on us – getting in a temporary arrangement with the very same evil insurance industry companies they blamed for the need to this shit for in the first place. How is that working out for you, huh? Stupid and envious idiots that bought the lies about other people – particularly the rich – paying for this, are now all shocked that they are the ones getting slammed in the ass with the costs. And the high price all comes with very little to show for. Wait until this mess plays itself out to see how much damage it will do to the middle class.

I can go on and on about how horrible things are for everyone but the liberal elite and their connected friends, but you should get the picture by now. That is, unless you are one of the true believers of this collectivist bullshit cult’s “social justice” nonsense. My one consolation is, unless you happen to be one of the lucky freeloaders, that the damage being done is fucking you envious collectivist a-holes over just as hard as it is me. And even the free loaders are going to be screwed by the left’s desire to fuck us over with millions of illegal immigrants they hope will become good democrat voters in return for tax payer provided largesse.

At least my 401(k) is soaring for now because of this unholy union between the collectivists and the big business conglomerates. The problem is that might not last long either considering that these collectivists already are trying to raid the savings of the middle class to keep their unicorn on life support for a little longer.

The lesson here is that “social justice”, like many other such collectivist buzz words, is really code for criminal behavior.