Wednesday, 23 January 2013

LEFT WING MATHEMATICS

Ken Berwitz

John Hinderaker, at powerlineblog.com, has written a very worthwhile blog (hardly unusual for him) titled "Is Liberalism Doomed".

I take issue with the title itself:  I distinguish liberalism, which I define as openness and tolerance of many different positions, with the left wing, which I associate with a group of specific positions on specific issues.  But, that aside, the points Mr. Hinderaker makes are well worth considering.

Here are excerpts from the first four paragraphs:

The left's real enemy isn't Republicans, it is arithmetic.

Welfare states are collapsing all around the world. Ours is on the same course. It is commonly observed that America's entitlement programs are Ponzi schemes, which is correct. What is less often noted is that federal government spending in general is a Ponzi scheme, sustained only by influxes of new money-real money from China and a handful of others, and fake money from the Fed-that cannot long continue.

Every Ponzi fraud inevitably crashes when its exponential growth cannot be sustained because there is not enough new money-not enough suckers, to put it bluntly. In the context of entitlements, "new money" means young people. That point is now approaching rather rapidly.

This is why the Democrats cannot adopt a budget. A budget requires arithmetic, and arithmetic demonstrates that the welfare state must either come crashing down, or be exposed as the terrible deal it is for those who didn't get in on the ground floor.

Is this true?  Are we in the latter stages of a ridiculous Ponzi scheme that cannot be sustained - the same kind of scheme that is taking down the European countries ours is modeled after, right in front of our eyes?  A Ponzi scheme that, we are being told by the Obama administration - will somehow deny mathematics - not to mention basic logic - and not do the same for us?

You certainly wouldn't know about this by reading most mainstream media, would you?  Which part of the Obama agenda - i.e. keep spending and keep borrowing, while telling the masses that it all works out if "the rich" will just pay "their fair share" - do they speak about in negative terms?  Warn us about?  Lay out the potential consequences of?

We are running, not walking, toward a cliff.  And there is no safety net.

When do we start doing something about it?.


CONGRATULATIONS TO BENJAMIN NETANYAHU

Ken Berwitz

Congratulations to Benjamin Netanyahu for winning Israel's national election yesterday. 

And congratulations to the New York Times for calling his win a "lukewarm vote", and a "humbling rebuke" because Mr. Netanyahu did not win by as much as expected - due to opponent Yair Lapid's personal charisma and the fact that, in the Times' own words, Lapid "avoided antagonizing the right, having not emphasized the traditional issues of the left..." (translation:  he moved toward Netanyahu's positions to get votes).

Sour grapes, anyone?


LEFT WING MATHEMATICS

Ken Berwitz

John Hinderaker, at powerlineblog.com, has written a very worthwhile blog (hardly unusual for him) titled "Is Liberalism Doomed".

I take issue with the title itself:  I distinguish liberalism, which I define as openness and tolerance of many different positions, with the left wing, which I associate with a group of specific positions on specific issues.  But, that aside, the points Mr. Hinderaker makes are well worth considering.

Here are excerpts from the first four paragraphs:

The left's real enemy isn't Republicans, it is arithmetic.

Welfare states are collapsing all around the world. Ours is on the same course. It is commonly observed that America's entitlement programs are Ponzi schemes, which is correct. What is less often noted is that federal government spending in general is a Ponzi scheme, sustained only by influxes of new money-real money from China and a handful of others, and fake money from the Fed-that cannot long continue.

Every Ponzi fraud inevitably crashes when its exponential growth cannot be sustained because there is not enough new money-not enough suckers, to put it bluntly. In the context of entitlements, "new money" means young people. That point is now approaching rather rapidly.

This is why the Democrats cannot adopt a budget. A budget requires arithmetic, and arithmetic demonstrates that the welfare state must either come crashing down, or be exposed as the terrible deal it is for those who didn't get in on the ground floor.

Is this true?  Are we in the latter stages of a ridiculous Ponzi scheme that cannot be sustained - the same kind of scheme that is taking down the European countries ours is modeled after, right in front of our eyes?  A Ponzi scheme that, we are being told by the Obama administration - will somehow deny mathematics - not to mention basic logic - and not do the same for us?

You certainly wouldn't know about this by reading most mainstream media, would you?  Which part of the Obama agenda - i.e. keep spending and keep borrowing, while telling the masses that it all works out if "the rich" will just pay "their fair share" - do they speak about in negative terms?  Warn us about?  Lay out the potential consequences of?

We are running, not walking, toward a cliff.  And there is no safety net.

When do we start doing something about it?.


A QUICK COMMENT ABOUT BEYONCE, AND HER HUSBAND

Ken Berwitz

I do not care whether the singer, Beyonce, did or did not lip-sync the Star Spangled Banner. 

I do care about the violent rap lyrics her husband, Shawn Knowles-Carter (stage name: Jay-Z) has made his immense wealth from - the ones that young people buy and listen to.  Maybe even young people like james holmes or adam lanza.

Does Jay-Z care about that?  Does Beyonce?  Do you?


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