The empty suit video above aside, I’d like to direct you to an excellent Wall Street Journal article that reviews the scope of our Entitlement State circa 2012. It’s not that we have reached an unaffordable precipice (we most certainly have), but that the extent and volume of government fund transfers both in dollar terms and in terms of the percentage of the citizenry receiving transfers has begun to transform our own national character. The article is appropriately called “Are Entitlements Corrupting Us?”
A lot of U.S.-based and foreign leftists tend to complain whenever anyone brings up the subject of American Exceptionalism, but I wonder how many of them are enjoying this current slide into mediocrity, and how many will be happy when we’re just another European-type welfare state? I think quite a few of them have a niggling feeling in the back of their head that something is slowly being lost, much as the rest of us on the other side of the aisle have done. I don’t think one can help it. I also cannot believe that the majority– even on the Left– sense this will be a net positive for the world.
But who really knows? Spite and schadenfreude are powerful emotional succors. One never knows where a person, once corrupted, will get their kicks.
The dollar continues to tumble overnight, but draws near some major Fibonacci support at the high $80.80′s region. Don’t be surprised if we get a bounce. Perhaps a weak one, but maybe enough to deflate this current gold and silver run up for several days or even over a week. I’m cautious here, only because I saw a lot of euphoria last week. I’m about 60% invested on my PM positions, and will be patient here.
Best to you all.
30 Responses to Deja Vu All Over Again?
Jake, if you’re serious about getting the US fiscal house in order, including entitlements, you gotta think beyond the false dichotomy that they’ve cleverly got your mind boxed into. Unplug from the matrix and vote 3rd party.
By the way, per your article, Republicans fuel entitlement program growth more than Democrats – “In current political discourse, it is common to think of the Democrats as the party of entitlements, but long-term trends seem to tell a somewhat different tale. From a purely statistical standpoint, the growth of entitlement spending over the past half-century has been distinctly greater under Republican administrations than Democratic ones. Between 1960 and 2010, the growth of entitlement spending was exponential, but in any given year, it was on the whole roughly 8% higher if the president happened to be a Republican rather than a Democrat.”
has nothing to do with the path that 0zer0 wants to take us down. he will be known as ,”the food stamp president”.right up there with LBJ. so who was the repub that instituted welfare..oh yea, LBJ.i’ll make a bet, right here, and right now,that there will be national guard walking the streets of chicago before elections.
Indeud. There’s no question the RINO-element of the GOP (including Bush) has been complicit in growing government.
That said, with the TP influence, it seems that the GOP is at least headed in the right direction, while the Dems seem to be headed towards greater dependence and statism.
And please, constructing a 3rd party that exists in the same sphere as the GOP is a non-starter. It will just guarantee the statists will completely submarine the country. The corruption is in the money running through Washington anyway, not in what manner of party is in charge.
Best to reform from within, so that we don’t lose ground while trying to make internal gains.
The ’60s, and more specifically the Boomers, fucked this country up beyond all repair; economically, governmentally (not a word, I know), mentally, educationally, sociologically and morally.
That giant goat carcass of a population cohort moved through this country like a swarm of locusts, stripping all away to its own benefit.
You must also be referring to entitlements such as Romneyesque tax benefits/shelters available only to the ultra-wealthy, otherwise known as the one-tenth of one percent, who have their army of well-paid, well-connected, loop-hole-oriented/educated accountants and lawyers.
Other than that, there should basically be no freebies unless one is disabled, handicapped, ill, etc. No food stamps, no unemployment without working on government farms, projects, etc, communist-style.
I’d be content if they’d just fix the “disincentive curve”…you should never have less take home pay after making more money.
Of course I’m talking about tax shelters, you privileged boob. Your tax shelters, East Hampton.
And that’s exactly what’s in Romney’s plan… lower everyone’s taxes and help pay for it by taking out the loopholes that allow limo libs to advocate for higher taxes that you won’t pay anyway.
naturally you weave a whole host of assumptions/presumptions in your assessment of me, as well as anyone else who holds a differing view from yourself, because opposing views are not only incorrect but stupid & should be put down, nipped in the bud & the holder of opposing views should be denigrated and rubbed into the dirt
however, you are only exposing your own hypocrisy/unknowledgeness/arrogance
Gimme a break, wouldja Brucie?
The tax avoidance racket is a $500 bn industry. Think about what we could do with all that dough efficiently employed in net positive value investments?
It would be horrible if CPAs and tax lawyers had to go off and do something useful for a change. And what would K St have to do? Perhaps we cannot afford the hit to employment stats if the tax code were simplified.
Yup. Patient also. I figure ill get interested on GDX at around 47 and high 46.75s where i may add.
I think that is an excellent entry point.
Keep an eye on GDXJ as well… it has so much farther to run…
Good to see you blogging more. You seemed to disappear for a while so i stopped visiting the site as frequently.
Got very busy… still busy, but trying to post more now that the summer is out and “the season” is in.
Agreeud. NUGT looks like it has a rendevouz with the 200 ema , maybe it backs up just a skosh first.
Glad you’re back as well.
Thanks for posting when you’re busy. I know it can’t be easy.
I was going to cry if you weren’t on Twitter for November 1.
*November 6, sorry
Many Shuvs and Zuuls will roast in the pits of the Slor THAT DAY I tell you!
Brilliant video. Seems this election cycle the right has figured out the whole social aspect of propagandizing the vote. They certainly aren’t getting left behind like they were in 2008.
I’m torn on a 3rd party. I want desperately to get rid of our European Socialist and give a more sure thing like Romney a go. He is not perfect but will certainly have a more reasonable steward of America into its collapse.
Been buying physical silver. Seems to me that it stands a better chance of doubling from here than gold, or maybe I’m being too simple in my analysis.
I think they both double, but silver has the better chance of tripling.
Is Hakeem Nicks playing tonight or what? This ‘questionable’ status is effing up my fantasy lineup.
I would not start him either way. Probably “limited.”
Start Reuben Randle if you can.
@chris third party is a waste of vote and really a vote for Obama. Ryan Romney U have to give them a shot.
Hopefully the Repubs are reforming within, mostly including conservative and libertarian ideas and policies. That’s the hope for change.
That’s all we can hope for.
We have to get rid of our “Pelosi and Reid” equivalents, which are Boehner and McConnell.
JIG. Jake, what’s up with the PM’s generally? What’s the “real” story on the recent action? So far, I barb about with superfluous hyperbole and coincidence theories.
Jake good to see you back. I really enjoy your posts. BTW, thoughts on EXK?
Thoughts are extremley warm on EXK and all the mini-silvers. AG, SSRI, PAAS, MVG, etc.