The Core

Why We Are Here => Economics & Investing => Topic started by: Mackin USA on September 18, 2017, 11:30:56 AM

Title: “the bubble in government promises”
Post by: Mackin USA on September 18, 2017, 11:30:56 AM

Elected officials at all levels have promised workers they will receive pension benefits without taking the hard steps necessary to deliver on those promises. This situation will end badly and hurt many people. Unfortunately, massive snafus like this rarely hurt the politicians who made those overly optimistic promises, often years ago.

http://www.mauldineconomics.com/frontlinethoughts/pension-storm-warning

Title: Re: “the bubble in government promises”
Post by: ergophobe on September 19, 2017, 03:14:54 AM

I don't blame the politicians. Any politician of any party who promises to cut Social Security, add means testing, increase the age at which you get full benefits, etc is TOAST.

Until the people vote intelligently, we can't expect politicians to act intelligently

Title: Re: “the bubble in government promises”
Post by: rcjordan on September 19, 2017, 10:40:27 AM

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. ―

^{Misattributed to Alexander Fraser Tytler or Alexis de Tocqueville, but is actually still evolving in the public's political dialogue. Some parts are attributable to Henning Webb Prentis. There are many "Ben Franklin" variants circulating. Whatever. It's a pretty good point, IMO.}

Title: Re: “the bubble in government promises”
Post by: Mackin USA on September 19, 2017, 11:45:44 AM

A majority of Americans now say they get their news from social media sites led by Facebook and from Google's search.

Title: Re: “the bubble in government promises”
Post by: rcjordan on September 19, 2017, 11:50:10 AM

>majority

Abandon hope all ye who enter here -- Dante Alighieri

Title: Re: “the bubble in government promises”
Post by: Mackin USA on September 19, 2017, 01:38:39 PM

and THEN there are THESE
http://time.com/247/millennials-the-me-me-me-generation/

Title: Re: “the bubble in government promises”
Post by: Drastic on September 19, 2017, 02:01:35 PM

>It's a pretty good point, IMO.
No doubt, I think it sums it up succinctly. We've already hit peak America.

I think we are close to the apathy stage, you?

Title: Re: “the bubble in government promises”
Post by: rcjordan on September 19, 2017, 02:40:21 PM

>apathy

Yeah, somewhere in that part of it. Some areas worse than others, of course. 

Title: Re: “the bubble in government promises”
Post by: rcjordan on September 19, 2017, 02:44:28 PM

<added>

Look at the current situation in Venezuela.  I was just reading how the prior governments used oil revenues to fund its social programs.