Tag: Failure of Keynesian economics

In the age of Obama..

The world is all upside down. The Social Justice Warriors have presided over a period when the rich have gotten richer than ever, and at a record pace. And ironically one of the biggest winners, Mr. Bezos, who raked in $16 billion in one year, runs a newspaper that makes him a ton of money peddling the SJW bullshit to idiots.

Then again, the crime syndicate in charge has had a lot of such first. Evil Boosh was a warmongering monster that made everybody hate and want to attack America. But the worst humanitarian crisis caused by war can be laid directly at the feet of the incompetent idiots showing us that it is amateur hour at every level of this administration. At least the crisis is fucking over the Europeans mostly right now, but the morons in charge will find a way to make Americans not just pay for their mistakes, but to make them suffer as well.

I won’t bore you with other such contradictions, ranging from environmental disasters caused by the very agency trying to destroy our economy with burdensome regulations that it is immune to and seem to mostly exist to help enrich connected rich people like Mr. Bezos in the first place, to the massive surveillance state created by the most open and ethical administration ever. Obamacare? That promise that it would save everyone big money, insure all the uninsured, and generally heal the sick across the board if we just let our betters pass it already? Yeah, it is costing us an arm and a leg, has barely covered a fraction of the uninsured they tauted would all disappear, and is replete with waste and horrible and destructive regulation that’s causing far more harm than if we had kept the status quo.

We are still printing money like it is going out of style and living large on borrowed money. The economy, which has been in recovery since 2009 when Black Jesus took office is in shambles, but the same idiots keep telling you all is well. Employment numbers are abysmal. Income inequality – another one of the big talking points of the SJW crowd – is at its worst. And the stock market, which had rallied primarily because of insane government spending and an ever devaluating dollar, is giving back every gain it has made.

Robots are taking the manufacturing jobs and even the McJobs, now that the SJW are pushing for insane wages for what amounts to entry level work any bozo off the street would be able to do. Cost of living is flying up, and the only reprieve is the fact that despite their promise to make us pay a shit ton more for energy usage, oil prices – you know that commodity they have been telling us for decades was just about to run out – have plummeted. And that happened despite efforts by this administration to do otherwise, although they are trying to take credit for this now.

Green energy has failed miserably (Volkswagen anyone?), across the board, and yet, this has not deterred the priesthood. After all, they have made more money than ever peddling this bullshit.

And the abuses of power continue as well. The IRS Scandal still remains unanswered. And they are not the only big government entity screwing over political enemies of the left. From the EPA to the DOJ, they are going after any and all that dare point out how corrupt these bastards are. Veterans are being fucked over. Whistleblowers that dare tell the truth about the abuses of this administration get crucified and destroyed. A criminal that has basically shown she shouldn’t be given any kind of security clearance is the top contender to replace Obama as the “Capo di tuti capi”. And the list goes on and one.

I guess, I think, my point is that these people are crooks and liars, and the true believers can’t be bothered either way. Long live the free-loaders!

Obamacare did that..

Who woulda thunk that there would be rate hikes on health insurance caused by the stupidity of the progressive unicorn fart sniffing crowd that passed Obamacare so we could find what was in it? Well, some of us not only predicted this, but warned others this was the pan from the start:

Major insurers in some states are proposing hefty rate boosts for plans sold under the federal health law, setting the stage for an intense debate this summer over the law’s impact.

In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016. The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase. In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products.

And on and on. Because this thing wasn’t just flawed, but set up to fail and do exactly this to those of us that actually produce and pay for these things. Since Obamacare was passed, my rates have gone up over 30%. And I was not one of the people directly impacted by the individual mandate because I had an employer sponsored plan for which the marxists behind this debacle kept pushing out the date the rules would kick in for fear of the political damage it would cost. Well, the 2014 elections are done, and the chickens are coming home to roost.

And speaking of employers: my employer has done a lot of talking about how they will not stop offering healthcare because they care about employees. This much bloviating is a red flag to me. Too much effort when they could just not even bother. Someone in the industry will sooner than later drop company provided insurance, that’s because the penalty is cheaper than paying for the insurance, and every single company in the industry will follow suit because their competitiveness is impacted – by design, mind you – to dump everyone on the government rolls.

This thing was designed to destroy the worlds most effective and efficient healthcare system – based on the medical capability and access, and not on the bullshit stats progressives like to push such as who gets care at other people’s expense – so the left could pass a single payer system that would give them even more control over the life of the serfs under them. Of course, people that have already used other branches of the government to punish dissenters, political enemies, and anyone they feel disrespected them – from the IRS to the DOJ, or the EPA – would never decide to use healthcare as a weapon against their enemies when they control it.

The left will always resort to tyranny, because that’s the natural and logical conclusion of what they believe in always leads to. The over 100 million murdered and billions made to live in misery, in the name of social justice of all things, during the last century of progressive power has not served to dissuade low information, brain washed, mushy headed idiots from voting for the people preying on their jealousy and envy.

Don’t you know that we need to break a shit ton of eggs for this giant shit omelet they want to feed us, you evil individualist! Power to the nanny state! Get ready to pay a lot more, for less, and have to wait a long ass time to get whatever mediocre service you can get. And don’t you dare complain that you though they would bleed someone else to give the slackers more free shit in return for their votes. Sad to have to admit it, but the only reason I feel justice is happening is the army of idiots that pushed for this monstrosity and are now going to take it up the ass (not that there is anything wrong with that if you are into that).

Thomas Sowell deconstructs Obama and the left’s bullshit

I love Thomas Sowell. This man gets economics and the way the real world works. So as soon as I heard he had a new article discussing the stupidity of another Obama “You didn’t build that” and “Pay your fair share you evil capitalists” moment, I had to go check it out. As usual, Thomas Sowell cleans the floor with the stupid shit liberals say> Here’s an excerpt:

In a recent panel discussion on poverty at Georgetown University, President Barack Obama gave another demonstration of his mastery of rhetoric — and disregard of reality.

One of the ways of fighting poverty, he proposed, was to “ask from society’s lottery winners” that they make a “modest investment” in government programs to help the poor.

Since free speech is guaranteed to everyone by the First Amendment to the Constitution, there is nothing to prevent anybody from asking anything from anybody else. But the federal government does not just “ask” for money. It takes the money it wants in taxes, usually before the people who have earned it see their paychecks.

Despite pious rhetoric on the left about “asking” the more fortunate for more money, the government does not “ask” anything. It seizes what it wants by force. If you don’t pay up, it can take not only your paycheck, it can seize your bank account, put a lien on your home and/or put you in federal prison.

So please don’t insult our intelligence by talking piously about “asking.”

And please don’t call the government’s pouring trillions of tax dollars down a bottomless pit “investment.” Remember the soaring words from Barack Obama, in his early days in the White House, about “investing in the industries of the future”? After Solyndra and other companies in which he “invested” the taxpayers’ money went bankrupt, we haven’t heard those soaring words so much.

Then there are those who produced the wealth that politicians want to grab. In Obama’s rhetoric, these producers are called “society’s lottery winners.”

Was Bill Gates a lottery winner? Or did he produce and sell a computer operating system that allows billions of people around the world to use computers, without knowing anything about the inner workings of this complex technology?

Was Henry Ford a lottery winner? Or did he revolutionize the production of automobiles, bringing the price down to the point where cars were no longer luxuries of the rich but vehicles that millions of ordinary people could afford, greatly expanding the scope of their lives?

Most people who want to redistribute wealth don’t want to talk about how that wealth was produced in the first place. They just want “the rich” to pay their undefined “fair share” of taxes. This “fair share” must remain undefined because all it really means is “more.”

Once you have defined it — whether at 30 percent, 60 percent or 90 percent — you wouldn’t be able to come back for more.

Obama goes further than other income redistributionists. “You didn’t build that!” he declared to those who did. Why? Because those who created additions to the world’s wealth used government-built roads or other government-provided services to market their products.

And who paid for those roads and other government-provided services if not the taxpayers? Since all other taxpayers, as well as non-taxpayers, also use government facilities, why are those who created private wealth not to use them also, since they are taxpayers as well?

The fact that most of the rhetorical ploys used by Barack Obama and other redistributionists will not stand up under scrutiny means very little politically. After all, how many people who come out of our schools and colleges today are capable of critical scrutiny?

And that’s the point though, isn’t it? You target envious low information voters with a head full of leftist mush for support to give pretense to robbing the productive, all while stealing tons of that money, under the pretense of helping those less well off. Now if we had anything like a honest media, they would point out how much money these class warriors bag while peddling this liberal nonsense, no matter what the medium chosen to gain acceptance of thing sane people would never go with, while selling the snake oil.

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.

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.

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.

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.

Deja Vu of collectivist stupidity

I admit I didn’t even bother watching the freak show, because I figured it was going to be more of the same, and I was not disappointed. From what I have read and seen now, I can tell that the man is just full of shit, talks out of both sides of his mouth, has a forked tongue, again showed why he is a narcissistic a-hole, by peddling the same trope the left has been peddling for decades: envy and jealousy. Pathetic.

The Washington Times points out that he calls for civility, then taunts. What’s new about that? I mean this has been the guy for 7 years. The Weekly Standard points out that in typical democrat fashion Obama attacks campaign donations, then proceeds to ask for them. The fact that these people that cry the loudest about the evils of donations – but specifically donations to their opponents – isn’t either new or news. These are after all the people that usually want to ban corporate money but see no problem with union money. They are also the people that denigrate and attack the rich, but get the most money from them and as the last 7 years show. do the things that make those rich people richer. The Washington Times also points out that in typical petulant child fashion, Obama managed to tell those evil republicans that just won the last electoral cycle with massive popular support that he was going to take his ball home if they didn’t let him win the game. This has been president “I won”, after all, and by now everyone should know that when they talk about working together or bipartisan efforts, democrats always mean “do what I want”.

This thing was such a snooze fest of the usual collectivist trope that even Ruth Bader Ginsburg seems to have nodded off. There were some highlights though. The Examiner points out that while Obama touted the left’s “War on Womenz” meme and again talked about the pay disparity, that the misleading and false statistics they usually use to back their cherry picking up was not repeated this time. Maybe this had something to do with that. Obama had so much good to say about our clearly broken secondary education system, but that is because, as Glen H. Reynolds has pointed out repeatedly, these institutions are one of the collectivist’s biggest donor blocks.

Fox News does a good job explaining what we saw, and that was that after this last electoral cycle’s shellacking, Obama went back to the usual democrat talking points. More class warfare – preying on the envious and the jealous works – and more taxing the productive and spending to buy votes from those that vote for a living, because that serves the country so well. Basically we got another “Give me your votes and I will give you free shit” donkey speech. Old and tired shit. If you like me just parodied what you expected an old collectivist twit would say and then watched something else, you didn’t miss much and were probably dead on.

Obama has managed to make my predictions that democrats in power would by their very actions sooner than later make sane people realize they are nothing but snake oil salesmen robbing Peter to pay Paul, while bagging a huge chunk of that change, back when everyone was talking about evil rethuglicans and Boosh, come true, and then without a shadow of doubt. I would love to rub it in people’s faces, but then again, when I look at the path of destruction these crooks have left in their wake, I don’t find much pleasure even in that.

I think it will come even sooner..

MRC TV has a piece up about how the demise of Social Security is coming far earlier than even the worst case projections put it at, but then again, as the first commenter pointed out, one has to wonder if these new projections even take into account the impact of Obama’s new executive order that would allow millions of illegals that have not paid or paid a pittance to now suckle at the government’s teat.

I am putting my faith in what I will be able to save in my own 401(k) plan, and not counting on SS for a penny. I have known that by the time I could collect from that failed system it would likely be belly up or rigged to pay nothing of value. Of course, all my planning to not need SS might be for naught if these progressives, after they collapse the economy and break everything else in their campaign to redress the ills their policies cause, decide that raiding private accounts is justified – because of “social justice” or some other such catchy bullshit.

Let the good times roll!