Monday, February 8, 2016

Millenials/An Update


  1. Show me a young Conservative and I'll show you someone with no heart. Show me an old Liberal and I'll show you someone with no brains. - Winston Churchill


  2. “The state is that great fiction by which everyone tries to live at the expense of everyone else.”
    ― Frédéric Bastiat

  3. It amazes me how people see these issues 180 degrees apart.

  4. Replies
    1. The basic message that everyone but Bernie is conveying to young people is, "We couldn't control ourselves and though we say we feel bad about that, the reality is that we have absolutely no intention of paying any of it back. Further, since we have no intention of paying it back, we are also going to use our entrenched power and resources to make sure you pay through the nose for many things we were able to obtain at a reasonable price, such as education. Lastly, when we die, we will just pass our wealth on to our spoiled children because it's only a handout when money is given unearned to poor people. So, good luck figuring out how YOU will pay for our mistakes."

    2. Interesting as the debt is the accumulation of spending for 60 years before that there was debt but not at this level.

      The problem is that it can not be slowed, stopped without lower spending and higher taxes (not just for the upper 10%) but everyone.

      Other option is hyper inflation, another would be default. In any case when the well runs dry and it will eventually when investors say 10% interest please, things will change. Perhaps the government can make it mandatory that all people working invest 10% of their earnings in 30 year treasury bonds as an investment that cannot be cashed in until the due date. Give us another 30 years of pretending that debt doesn't matter.