Not our family – given December begins with our wedding anniversary and ends with my husbands birthday (in addition to everything else going on). Economically, we’re on a wild ride. From The Register – the UK is farther along our particular path, yet not as far as the rest of the continent
Article: Feeling Poor?WHO took all your money? NOT capitalist bastards? (subtitle: actually it was nurses and firemen and teachers)
The Trades Union Congress ays that the labour share of income has been falling. Which it has. They then tell us it’s the capitalists grinding the workers into the dust. But we’ve had…no rise in the profit share. So why is it that the workers have ever less money?….
Far from it being the capitalist bastards pulverising the workers pay cheques, it’s government that is doing so to pay for the public sector workers….
This is how you and I are ruled these days. The Robin Hood Tax campaign tells us of all the lovely things we can spend the extra money on...the problem is this sort of stuff works. And not just among the general public.
We could call this economic statistics being deployed to make a political point. I prefer to call it government by lying. The sad part being that lying works.
Worldwide the rulers of the west hope – pray – that the music doesn’t run out on them. “Please let the roaring 20’s continue on MY watch!!!”
What’s the half full part? From another blogger (Musings from the Chiefio) a friend on FB reads:
We will be dealing with the Demographic Bomb as the Baby Boomers retire and there are not enough productive workers to support them for the next 20 years (or more…). We will be dealing with the $16 Trillion …Debt Bomb for the rest of our lives. There is nothing about the next week, month, or even year, that makes those go away. You will have a law expire. You will have a budget out of control. You will have entitlement spending that can not be covered, in any way, from taxes, growth, or borrowing. You will not get more revenues from a hike in tax rates.
I sat back, and realized that no matter what happened in Congress this week, it will be evasion of the inevitable. It’s economics by musical chairs – hoping that your administration, your time in office is not the one the music runs out on.
Eventually an economic intervention will occur – the question is not “if”, but “when” and who is without a chair when it does
Keynsian money acts exactly like any addictive drug. Take a little bit of speed, for a very short period of time, to survive a dog fight as a fighter pilot, well, that actually works well (which is why we put speed in the cockpit starting in W.W.II). Do it every day for years? You slowly burn out and end up a wreck.
While we can’t force our country to put down the QE5 meth pipe, we can refuse it ourselves.