tag:blogger.com,1999:blog-6244999628674918029.post4820666339288127000..comments2024-03-29T09:25:32.972-05:00Comments on Bayou Renaissance Man: The US presidential elections are essentially irrelevantPeterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-6244999628674918029.post-10921569985599744232012-02-05T17:08:54.210-06:002012-02-05T17:08:54.210-06:00@A_Nobody: I'm very sorry to have to inform y...@A_Nobody: I'm very sorry to have to inform you that SS is not, repeat, NOT "a PAID program for most". Politicians have repeatedly inflated the SS benefits they promised to voters, <i>without increasing SS premiums to a level sufficient to pay for those promises.</i> In order to pay the promised level of benefits, SS taxes would have to be almost doubled <i>right now</i> - which clearly isn't going to happen. The only alternative is to reduce SS benefits to what can be paid according to the current level of taxation, or delay the age at which those benefits are given so that more recipients die before they reach that age. That's the cold-blooded calculation that we face right now.<br /><br />I truly sympathize with the position of those who rely on SS as their primary (or even sole) means of support in their older years . . . but that's the way it is. It isn't the way it was MEANT to be, and it isn't the way anybody in his or her right mind WANTS it to be, but it IS that way, whether we like it or not. Heaven help us all - because no politician can do so!Peterhttps://www.blogger.com/profile/10595089829300831372noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-62864214090021639552012-02-05T14:52:45.176-06:002012-02-05T14:52:45.176-06:00Please, all of you. Quit harping on S.S. as an ent...Please, all of you. Quit harping on S.S. as an entitlement program. It is a PAID program for most. The problem is your heroes in government have put a burden on the program and have been doing so for years. There's plenty of waste in government that can be removed and start us down the right road if we can get some men in COngress instead of political lackys but I don't see that happening. IF you really want to drop S.S. and Medicare, I want every damn cent plus interest that would be stolen from me if it's done. I paid in good faith and expect the same of it was taken fraudulently.A_Nobodynoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-15703220677776938552012-02-03T20:59:55.053-06:002012-02-03T20:59:55.053-06:00Peter, I agree, because massive, deliberate inflat...Peter, I agree, because massive, deliberate inflation is the only outcome that is politically feasible.<br /><br />People will get their benefits because programs like Social Security are politically untouchable. No politician - of either party - is going to risk his office by screwing around with it, even if it is for the good of our nation and our posterity. <br /><br />But nobody can have what is not there. So what the politicians are going to do is keep running the printing presses to keep paying the promised entitlements until the entire monetary system finally collapses. When that happens – and it *will* happen – all benefits and investments - all of them, 401Ks, savings, stocks, bonds - all of it – will be worthless.Royhttps://www.blogger.com/profile/10108430731483801350noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-16296685453269070332012-02-03T20:09:02.118-06:002012-02-03T20:09:02.118-06:00Peter, you left out the best part- after inflation...Peter, you left out the best part- after inflation smashes everyone's living standard flat, the politicians will turn around and point their fingers at "the greedy businesses" raising prices. <br /> But wait, it gets better- then they enact wage and price controls, and the shortages start-it does not make to much sense to produce when you can't make a profit. Then the real fun starts with nationalization of industries to provide "affordable" goods-(at this point, mostly food, as the country will be starving.Nobody who has ever visited this blog need worry about that, however, as we will be on the "no food list")<br /> <br /> As a brief note of interest regarding how far governments will go regarding debasing the currency, France, in the 1792 hyperinflation , made it a capital crime to demand payment in coin instead of paper. The coins of course were gold and silver. <br /> Of course, our own coinage act (also 1792?) made it a capital crime to DEBASE the currency.ravennoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-67506550221016553092012-02-03T19:31:29.583-06:002012-02-03T19:31:29.583-06:00That's OK, Roy. I agree with you about the la...That's OK, Roy. I agree with you about the lack of political solutions - which is why I wrote this article to begin with. I think the only chance we have is to elect sufficient Representatives and Senators to be an obstacle to the 'business-as-usual' crowd, and to block the most egregious bills.<br /><br />I think that massive, systematic, deliberate inflation of our currency is the most likely outcome of all this, as it's the only way in which the powers that be can pay off our enormous deficit, yet still claim to be providing the 'freebies' voters want. If they're providing them in debased currency, which doesn't cost as much in real terms, they can at least still argue that they haven't actually <i>cut</i> entitlements. It's a weaselly thing to do, but that's about all one can expect of the current crop of politicians.<br /><br />I'm not sure you're wrong about voting for Obama so that the blame rests with him and his ilk. Certainly, I don't think Romney would be any better than Obama, and I don't trust Gingrich as far as I can throw him. At this point, I really wish Sarah Palin would run as a populist candidate - not because I think she'd make a great President, but because she'd shake up the race, and she couldn't possibly be a <i>worse</i> President than any of the other likely candidates! Who knows? She might be a whole lot better!<br /><br />*Sigh*Peterhttps://www.blogger.com/profile/10595089829300831372noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-88691359492485354932012-02-03T18:38:48.885-06:002012-02-03T18:38:48.885-06:00Upon review, I can see that my last comment came a...Upon review, I can see that my last comment came across a bit stronger than I meant it to be.<br /><br />My most humble apologies to you, Peter. The fact is that I mostly agree with you. I just don't see a way out of the mess - at least not politically.Royhttps://www.blogger.com/profile/10108430731483801350noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-42972633926936957032012-02-03T18:28:54.847-06:002012-02-03T18:28:54.847-06:00Okay, Peter, I'll bite. Which one of the front...Okay, Peter, I'll bite. Which one of the front running, likely-to-get-nominated candidates does "get it"? Which one of them has policies that are both economically literate and economically realistic? <br /><br />Personally, I'm beginning to wonder if I shouldn't just go ahead and vote for Obama. Since it seems we are going to go over the cliff no matter what, maybe it would be best for our posterity that we go over it with the Socialist Democrats in charge. At least then maybe the people who are left will finally "get it" at last. Because that is ultimately where the problem lies - with the people.<br /><br />I've said it before, and I'll say it again: Our politicians are *not* the problem. They are only a symptom of the problem. The problem is that we have too many people in this country who would rather have "free-stuff" rather than "free-dom".Royhttps://www.blogger.com/profile/10108430731483801350noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-52671482746895996422012-02-03T12:28:01.951-06:002012-02-03T12:28:01.951-06:00Even if the electorate was able to get the "h...Even if the electorate was able to get the "honest" congress in numbers large enough to address the issue it will still fail because no conress can bind a future congress. Wheen the reality of the loss of entitlements hits the populous in full force the "honest" congress will be swept aside by the candidates that promise relief in the very next election. Therefore there will only be a delay of the inevitable.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-88036640033484763492012-02-03T11:21:49.765-06:002012-02-03T11:21:49.765-06:00It does matter who we elect.
And I agree complete...It does matter who we elect.<br /> And I agree completely with your assessment of the economy.<br /> The question is who do we want at the helm when we hit the reef. <br />The "let no crisis go to waste" types would regard this as an ideal opportunity to enact all sorts of measures to "save" us, and end up putting chains on us.ravennoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-60930101808022938222012-02-03T08:26:29.368-06:002012-02-03T08:26:29.368-06:00Roy, unfortunately Ron Paul doesn't "get ...Roy, unfortunately Ron Paul doesn't "get it". His policies are economically <i>literate</i> (i.e. they take basic economics into account), but they're not economically <i>realistic</i>. As is the case with so many of his policies, he's great on theory, but falls very short indeed on practice. That's a great pity, because with greater practicality, he'd become a more viable candidate.<br /><br /><b>*Sigh*</b>Peterhttps://www.blogger.com/profile/10595089829300831372noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-83859799630096124802012-02-03T08:12:23.238-06:002012-02-03T08:12:23.238-06:00The problem, Peter, is that any candidate who even...The problem, Peter, is that any candidate who even attempts to address the problem in his campaign will *not* get elected in the first place. I give you Ron Paul as an example. He is the only one of the present presidential candidates who even comes close to addressing the issue, yet he is an "unlikely" candidate and gets called "crazy" for his troubles.Royhttps://www.blogger.com/profile/10108430731483801350noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-15665871335441687122012-02-03T07:05:37.935-06:002012-02-03T07:05:37.935-06:00Agreed, Mikael: but I did say "likely candida...Agreed, Mikael: but I did say "<i>likely</i> candidates". Neither Ron Paul or Gary Johnson is a likely candidate (although I think Mr. Johnson is the most economically literate and realistic of the entire field, and I'd vote for him in a heartbeat).Peterhttps://www.blogger.com/profile/10595089829300831372noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-8573071565314447412012-02-03T04:41:16.127-06:002012-02-03T04:41:16.127-06:00Actually I think Ron Paul is facing it... (and Gar...Actually I think Ron Paul is facing it... (and Gary Johnson, who doesn't have a snowball's chance in hell).Mikaelhttps://www.blogger.com/profile/04894602732468692375noreply@blogger.com