Saturday, May 14, 2011

Block Maintainence

Seniors, Guns and Money -

Here we have Krugman, alledgedly an economist and columnist for the "Paper of Record", the New York Times. Assured to be "unbiased" by NBC, CBS, ABC, NPR, CNN, etc. The Wall Street Journal and Fox news are "biased". The real answer? ALL are biased, but falling into the trap of thinking that your biases are "truth" tends to deepen and widen the unacknowledged bias.

Here is a little quote from USA today before we begin --

Tungare is part of the wealthiest generation in American history — a group of 67 million people 55 and older who are so affluent that the gap between them and younger people increasingly is making the USA a nation of haves and haves-much-less.

Got that? One great way to divide the haves and have nots is by age. Seniors are richer. Way richer.
Much attention has focused on the multimillion-dollar paychecks of corporate chief executives and hedge fund managers, who've enjoyed windfalls at a time when the wages of ordinary workers have stagnated. But the graying of wealth and income may be the most important twist in the new inequality.
Now let's hear what the ever-helpful Mr Krugman has to say about the issue:
Anyway, the truth is that older Americans really should fear Republican budget ideas — and not just because of that plan to dismantle Medicare. Given the realities of the federal budget, a party insisting that tax increases of any kind are off the table — as John Boehner, the speaker of the House, says they are — is, necessarily, a party demanding savage cuts in programs that serve older Americans.
No Paul, the TRUTH is that older richer Americans need to look hard at taking benefits from poorer, younger and unborn Americans. The core of the Ryan plan is to turn Social Security and Medicare from a Ponzi scheme where everyone believes they can get more out than they put in, to a serious safety net program for the NEEDY ELDERLY. Because if the country goes bankrupt, the truly needy will be the ones hurt the worst. It is pretty hard to go back to work when you are sitting in a nursing home with no remaining living relatives.

Eventually, reality will force us to be honest. FICA and Medicare were Democratic programs to buy votes by making promises that it was known could not be kept and would bankrupt the nation. Krugman knows this, the Democrat elite knows that, but to them this isn't about anything but raw political power. They could care less about the fact that their path will hurt the neediest Americans the most of all, just as they care nothing about the fact that their poverty programs have destroyed the lives of millions of their supposed beneficiaries through broken families, addiction, and the loss of the cultural impetus to personal responsibility and work.

If Krugman DID want to do something about "the wealthy", he would do something like what Ryan and the Republicans are trying to do -- admit that the jig is up on vote buying programs, and it is time for those who have been responsible in life and saved for their golden years to pay. While I'm a little short of those actual golden years, I'd consider myself in that group. I'm one of the people that will pay for the Republican approach. What is up? Have I turned benevolent rather than evil as we all know conservatives are at their core?

Actually not. The Democrats programs are nearly guaranteed to give us hyperinflation, while I'm hedged to a degree, there is no way that is good news for my portfolio, let along my children's future. I've still got money in the market, and also money that I would like to see in bonds drawing interest. A bankrupt US is not going to make for great market conditions going forward. I'm getting older and will nearly certainly need more health care. Since someone has to pay for that and I'm certain it won't be the Democrats mythological super-rich, it is MUCH better if we can ratchet down the giveaways to those of us that have put away assets, broaden those that are paying down to say "$50K income",  and focus assistance on the truly needy. That kind of approach is best able to give us some sanity.

While we are speaking of sanity, let those that can afford to pay for treatments that cost $100s of K in their 50's or 60's pay for them and have them -- just like they have their million dollar motorhomes  to arrive in, or multimillion dollar planes. God bless them -- they can be the paying guinea pigs for the advanced stuff that can be available to the rest of us later. 

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