What happened to all of the doom and gloom economic threads?

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June 25, 2011 - 6:56 pm
There Are No Socialists
Victor Davis Hanson
NRO

Two unconnected developments were announced this past week. President Obama is releasing oil from the Strategic Petroleum Reserve, despite the absence of a global embargo or horrific natural disaster — and despite a litany of assertions from 2008 that drilling and increased supply might only have a marginal effect on prices.

Like the sudden Afghan withdrawal announcement, the tapping is largely explained by political worries about reelection, as in increasing oil supplies to lower gas prices by election time — and thus avoiding campaign ads equating Obama’s opposition to drilling with high prices at the 2012 pump.

In a second piece of news, the Europeans seem to be winning far more plane orders than Boeing. One wonders whether that fact is remotely connected with airlines’ collective worries about obtaining orders on time and as specified — as in uncertainty whether Obama’s NLRB ruling that attempted to shut down a nearly $1 billion new aircraft line in South Carolina translates into something like “who knows what those Americans are doing next?”

All this raises some questions. The strangest things about the global statist crack-up are socialists’ unhappiness with their socialist utopia, and their subsequent efforts to avoid the consequences of the very redistributive state that they themselves once so gladly crafted.

Greece is the locus classicus. Why are the Greeks protesting? Against whom? They obtained long ago the promised bloated sector and high taxes that all schemed to avoid. Their alma mater EU is hardly a demonic capitalist-run plutocracy, but a kindred socialist state. Is Greece an oil producer, industrial powerhouse, high-tech innovator — anything that might explain the sort of upscale life, modern infrastructure, legions of Mercedeses, and plush second homes that one began to see in Greece after 1985?

In truth, socialist Greeks are furious that they have impoverished themselves and demand that private money and far harder-working Germans bail them out — but why so, when socialism should not need outside capitalist-generated dollars? Could not the Greeks, Soviet style, set up a Cuban collective, and adjust their lifestyles (there goes Kolonaki culture) to their means, living in an opportunity of result utopia with a huge public sector, more siestas, high but ignored taxes — with a collective good riddance to those awful intrusive German bankers?

Here at home, Obama got his ObamaCare. Why, then, did he grant hundreds of exemptions — many to northern California liberals? Should they instead not have lined up to volunteer to implement such a wonderful, long-needed entitlement?

He said energy would rightly sky-rocket, given his determination to curb fossil fuel production (cf. “bankrupt” coal companies). Why then is Obama concerned that gas hit $4; is not such a high price a welcomed retardant to burning hot fuels? The higher the gas prices, the more that subsidized wind and solar power, and electric cars are attractive, and thus the more we enjoy “sustainable” power. Right? Am I missing something about this desire within our grasp of “living within our means”?

Obama enjoyed big majorities in both houses of Congress; and on the campaign trail he had promised a de facto amnesty under the euphemism of “comprehensive immigration reform.” So why did he not grant such exemptions, and absorb 11, 15, or 20 million new “citizens” from Oaxaca? Is not that the point of amnesty, to welcome in new constituencies who will remember a benefactor at the polls?

We have heard that taxes, more taxes, and more taxes are the cure for the massive deficits, run up by out of control spending. OK, fine. But why then does multimillionaire John Kerry go to great lengths to avoid taxes on his yacht (why a luxury yacht when so many have so little?); why are redistributive overseers like Timothy Geithner, Eric Holder, Tom Daschle, Charles Rangel, and Hilda Solis either late or delinquent in paying the federal, state, or local governments what they owe? Were not high taxes on the upper incomes like themselves the point of it all? Should not they pay all they can to ensure that their brethren receive needed entitlements? I thought Bono would lead an international effort of multimillionaire rock stars to relocate to socialist states like Ireland or Greece, so that they might gladly pay 75% of their incomes (which at “some point” they had enough of) to help others closer to home. Why instead is he fleeing to low-tax nations? Did not such socialists have enough money by now without undermining the socialist state?

This discussion is, of course, a belabored example of why and how socialists do not like socialism. Indeed, statism is not a desired outcome, but rather more a strategy for obtaining power or winning acclaim as one of the caring, by offering the narcotic of promising millions something free at the expense of others who must be seen as culpable and obligated to fund it — entitlements fueled by someone else’s money that enfeebled the state, but in the process extended power, influence, and money to a technocratic class of overseers who are exempt from the very system that they have advocated.

So what is socialism? It is a sort of modern version of Louis XV’s “Après moi, le déluge” – an unsustainable Ponzi scheme in which elite overseers, for the duration of their own lives, enjoy power, influence, and gratuities by implementing a system that destroys the sort of wealth for others that they depend upon for themselves.

Once the individual develops a dependency on food stamps, free medical care, subsidized housing, all sorts of disability or unemployment compensation, education credits, grants, and zero-interest loans — the entire American version of the European socialist breadbasket — then expectations for far more always keep rising, with a commensurate plethora of new justifications, usually in the realm of someone else having more than the recipient, always unjustly so. The endangered aid recipient is always seen as being pushed off a cliff in a wheel chair — therefore, “they” can afford to give “me” more; things are not “fair”; there is no “equality.”

Cutting back $2,500 a month in combined benefits and subsidies to $2300 a month is always seen as far more heartless and cruel than not in the first place giving someone without subsidies a mere $200 a month. For every dollar taken, two are demanded. And that creates a powerful constituency for whom the shrillest rhetoric of oppression is, well, never too shrill. Revolutions are not fueled by the very poor seeking their daily bread, but by those on entitlements that revolt at the thought of less to come. A rioting Greek today is far better off than his parents in 1973 when I first arrived in the country; and he would remain far better off even under an “austerity” plan. But his expectations have soared geometrically with each euro received, and he now has convinced himself that not to have more is to have nothing.

History is not kind to such collective states of mind. Pay an Athenian in the fifth century BC a subsidy to go to the theater; and in the fourth century BC he is demanding such pay to vote in the assembly as well — and there is not to be a third century free democratic polis. Extend to a Roman in the first century BC a small grain dole, and by the late first century AD he cannot live without a big dole, free entertainment in a huge new Coliseum, and disbursements of free coined money. Let the emperor Justinian try cutting back the bloated bureaucracy in sixth century AD Constantinople and he wins the Nika riots that almost destroy a civilization from within even as it is beset by hosts of foreign enemies.

Social Security started out as a few dollars a month to the elderly, in their last two or three years of life, to ensure that they could feed themselves without the indignity of borrowing from their children. It has morphed into someone living well for twenty years on far more money taken than was put in — or a young family with a dyslexic child on “disability” for life. To cut any for the latter would cause far more riot and mayhem than not to have given the former anything in the first place — despite the fact that the 21st century recipient was far less needy and got far more than the early 20th century recipient who needed more and got less.

What stops socialism?

I fear bankruptcy alone.

Who are socialists?

There are none. Only technocratic overseers who wish to give someone else’s money to others as a means of winning capitalist-style lifestyles and power for themselves — in a penultimate cycle of unsustainable spending. When this latest attempt at statism is over, Barack Obama will enjoy a sort of Clintonism, a globe-trotting post officium lifestyle of multimillion dollar honoraria to fund a lifestyle analogous to “two Americas” John Edwards, “earth in the balance” Al Gore, a tax-exempt yachting John Kerry, a revolving-door Citibank grandee like Peter Orszag, or a socialist Strauss-Kahn in $20,000 suits doling out billions to the “poor.”

That is just the way it has been and will always be.
 
FINALLY!!!

Some positive economic news:

"The U.S. Department of Commerce delivered a bit of good news this Friday, announcing that real GDP growth during the first quarter of 2011 was measured at 1.9% (final reading), which was a bit higher than the prior estimate of 1.8% provided a month ago; moreover, the result was above the Street's estimate of 1.8%."

President Obama has scheduled a rare Sunday afternoon press conference to proclaim this tenth of an adjustment is proof-positive that his stimulus scheme is finally beginning to pay dividends...

Unfortunately:

"On the downside, we should point out that GDP during the fourth quarter of 2010 registered at 3.1%, so the department's most recent result clearly showed significant deceleration to the GDP trend."

http://seekingalpha.com/article/276642-a-bit-of-good-economic-news
 
WE'RE NOT IN A RECESSION!




We'll tell you when it feels like it! When unemployment gets up around 5% like under the failed Republican Policies of the Bush Administration!
 
While NIGGER POON

is posting yesteryear

In teh real world.....

“On economic growth, real GDP has risen 0.8% over the 13 quarters since the recession began, compared to an average increase of 9.9% in past recoveries.”

 
meanwhile

in the

real world

Recession%20Chart-thumb-600x359.jpg
 
Ku-Klux-Klan.jpg


The BusyShit Trio gets ready to play a free jazz set at Summerstage. Busy, as band leader, will be doing vocals and electric klezmer.
 
meanwhile

in the

real world

Recession%20Chart-thumb-600x359.jpg

James Carville is famous for the slogan that helped elect Bill Clinton in 1992: "It's the economy, stupid!" You'd think there'd be a few of the old posters with this slogan from the famous Clinton campaign war room floating around someone's flooded basement that the Obama people could dust off. Of course, what I'm calling "Carville's Razor" would just as likely nick the Obama campaign's jugular vein. So they'll try to change the subject.

My pal Steve Moore of the Wall Street Journal points out the dismal dimensions of the current economic cycle, which he and others mockingly call "Recovery Bummer":

The standard response from Obama apologists is that recession of 2008 and 2009 was different because, as former Clinton administration economist Robert Shapiro puts it, "this was a financial crisis, and these take longer to recover from." In fact, in most cases, the deeper the recession, the stronger the recovery to make up for lost ground.

That was what Ronald Reagan's critics said when the U.S. economy soared during 1983 and 1984 with quarterly growth numbers exceeding 7%. At the time, liberal Keynesians yawned and declared the good times nothing more than a normal snapback from the deep recession.

The chart above, produced by the Joint Economic Committee, tells the story.



Meanwhile, if you want to see where there is real job growth occurring, forget "green" jobs. Turns out old-fashioned "brown jobs" are where the action is. Nine of the 11 fastest-growing job sectors right now are drilling-related. Forget red and blue states in the next election. The real divide might be between fossil fuels states and the states still trying to break wind for their energy and economy.


--------------------------------------------------------------------------------
 
I love your family pictures, which one are you?

have to say, the dress you are wearing, well it flatters your figure



Ku-Klux-Klan.jpg


The BusyShit Trio gets ready to play a free jazz set at Summerstage. Busy, as band leader, will be doing vocals and electric klezmer.
 
I love your family pictures, which one are you?

have to say, the dress you are wearing, well it flatters your figure

That's right, you little repetitious cunt. Keep on sucking up to the racist cock on here, you need his gruelly protein to fill out the boney ass of your brain.
 
wow, but what can one expect when irezumalkiss mother was on crack and then in jail. so who raised you once you hatched? did you have an aunt or a foster child in the system?



That's right, you little repetitious cunt. Keep on sucking up to the racist cock on here, you need his gruelly protein to fill out the boney ass of your brain.
 
wow, but what can one expect when irezumalkiss mother was on crack and then in jail. so who raised you once you hatched? did you have an aunt or a foster child in the system?

wow, but who is "irezumalkiss?"

wow, but can't you fucking type correctly?

wow, but your brain needs that jizz protein like Nestle quick, huh?

wow, but you better start sucking on BusyShit's racist nub to get that bittermilk pretty soon, eh?
 
okay, so it is true that your mom was on crack. okay. that helps explain a few things.

now, why do you hate having a job? where did that come from? how does that make you feel?



wow, but who is "irezumalkiss?"

wow, but can't you fucking type correctly?

wow, but your brain needs that jizz protein like Nestle quick, huh?

wow, but you better start sucking on BusyShit's racist nub to get that bittermilk pretty soon, eh?
 
okay, so it is true that your mom was on crack. okay. that helps explain a few things.

now, why do you hate having a job? where did that come from? how does that make you feel?

okay, so it is true that you're a repetitious cunt who buffs up the taint n' nutsack of the resident racist asshole. okay. that helps explain a few things.

now, why do you suck so much idiot cock on this site? where did that inner ho come from? how does being a jizz jar make you feel?
 
I'm sorry, i don't understand getto, please type English words

okay, so it is true that you're a repetitious cunt who buffs up the taint n' nutsack of the resident racist asshole. okay. that helps explain a few things.

now, why do you suck so much idiot cock on this site? where did that inner ho come from? how does being a jizz jar make you feel?
 
bla bla bla dribble


QUOTE=IrezumiKiss;37912472]What's "getto?" Is that the name brand of an Italian dress shoe?

Did you mean ghetto, you illiterate dumbshit?[/QUOTE]
 
We've already established that these top links are someone's school project. I already laughed your source out the door and here you are posting it again. Never link this source again please. It's incredibly stupid of you to do so. And let's look at the study discussed in your economics21 link. Did you even read it??? Here are some of its points.

1) It says that 2 million jobs were saved by the stimulus - and that's only counting until March 2010 when about 1/3 of the stimulus was still left to be spent. If we extrapolate that 1/3 at the same factor as the 2 million jobs, we have about 2.7 million - the same conclusion as Moody's. :rolleyes:

2) Oh look, your source is only looking at a fraction of the stimulus in that 2 million figure - just the aid to states part. "The results of this one study should not be seen as definitive. As Wilson emphasizes, the results only apply to the variation caused by additional state-level spending."

3) When your study accounts for all aspects of the stimulus, here's it's outcome:

Table 13. Estimated Number of Jobs Created/Saved by ARRA
December (Q4) 2010
This paper (spending only) 3.0 – 4.0 million
Congressional Budget Office 1.3 – 3.5 million
Council of Economic Advisors 2.5 – 3.6 million

Way to get your ass kicked by your own (completely non-Keynsian!) source. You just found me a LOAD of evidence that the stimulus worked. Not only that, but it's estimates were even higher than Moody's. You're really awful at this AJ. Really, I couldn't have asked for better help in our little debate. From now on I'm just going to refer you back to your own link. Thanks man. :D



Aj, where did you go? Finally admitting you were wrong? Way to pull an "Oh FUCK" and just pretend like you didn't just prove yourself wrong with your own source.
 
WE'RE NOT IN A RECESSION!




We'll tell you when it feels like it! When unemployment gets up around 5% like under the failed Republican Policies of the Bush Administration!


Good thing we had the stimulus then huh? Or else right now we'd be sitting in a far worse place looking at 12% unemployment and dreaming of the GDP we have today.

Source: the link you posted that you say is non-Keynsian and objective
 
Good thing we had the stimulus then huh? Or else right now we'd be sitting in a far worse place looking at 12% unemployment and dreaming of the GDP we have today.

Source: the link you posted that you say is non-Keynsian and objective

the so called President said that with the STIM PAK it wont go above 8% and without it it will go higher

or did you forget? NIGGER POON?
 
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