GLEANINGS FROM THE PASSING SCENE …(Politically Uncorrected)

alfred_e-_neumannOur current crop:

Social Security: Democrats propose to raise benefits and taxes to fix deficits (Report)

The culture: Boy Scouts inaugurate first all-girls troop (Report) (Whom the gods would destroy …)

New Jersey wants to tax property that delivers rain runoff to sewers? (Report)

Los Angeles upset by military battle drills in city (Report)  (Hmnn – Why is the U.S. military drilling in U.S. cities?)

Science: Migratory magnetic poles gaining more attention (Report)

Geology: Multiplying Pacific Coast quakes and a threatening Mt. St. Helens volcano (Article)

India: Sacred cows eat too much of poor farmer’s incomes (Report)

Oil politics: Will Saudi Arabia/OPEC team with Russia to counter U.S. shale production? (Article)

The economy: The U.S. government’s debt trap explained (Article)

Los Angeles follows San Francisco into expanding poverty/disease? (Article)  City Hall is overrun by rats while typhus spreads (Report)

Venezuela: One insider’s view/update (Article)

Venezuela: Soldiers deserting in droves (Report)

More Venezuela: Could Trump’s meddling be more about oil than democracy? (Article)

Serbia: Street protests spread (Report)

The culture: Continuing rise in cohabitation, decline in marriage as student debt surpasses credit card debt (Article) (Disintegrating culture, accelerating impoverishment?)

Syria: Russia attacked Iranian facilities in Syria? (Report) (Helping Israel?)

U.S. Government has rigged filing lawsuits against its wrongdoing? (Article)

The economy: Modern Monetary Theory (MMT) (Article) (The coming scam from the spend us rich crowd)

 Politics: Is Trump abandoning his “hire Americans” policy? (Report)

The economy: One writer’s specific predictions (Article)

More economy: Is the U.S. Treasury running out of suckers to lend it money? (Article) (Bond buyers vanishing …)

 The culture: 5 black Nashville kids, 12 to 16 years old, arrested for robbing and killing 24 year old white musician (Report)

Amazon: Building a “Sprawling surveillance state” for everyone? (Article)

The internet: Governments increasing control (Report) (In U.S. net providers do it)

The war on guns: Gun seizure laws proliferating among states (Report)

Science: Improved measurement of Hubble constant exposes holes in standard model (Article) (We don’t understand what we thought we knew)

The guaranteed minimum income experiment in Finland was unsuccessful (Article)

The economy: Next stop: Recession (Article)

Chicago: 3 killed, 19 wounded in weekend shootings (Report)

A naked woman was arrested running along route 30 in York (Report)

Enough, already

 

EDITORIAL:   A Social Security Scam from Democrats

So many are now at least vaguely aware that Social Security taxes have become insufficient to fund pension payments that politicians anxious about the 2020 elections are already promising a fix. The fix has to be a tax increase of course but that is sweetened with a pension increase, a tacit admission that pensions have not kept up with inflation.

That this is a scam will become clear when the size of the tax increase necessary is published, which may be awhile as the requisite numbers will be discouraging if not faked. Retirements are rising with the arrival of the Baby Boomers; births of future workers/taxpayers have been declining. More retirees will for a while, be collecting pensions from fewer workers in a system already bankrupt. It will take a lot of new money to put that right, so much that we doubt it can be reality.

But at least somebody is recognizing the very real Social Security bankruptcy in public, which has to be better than continuing to ignore it. Or, if they are going to continue faking it, maybe not.

About Jack Curtis

Suspicious of government, doubtful of economics, fond of figure skating (but the off-ice part, not so much)
This entry was posted in Economics, Goverrnment, Politics, Uncategorized and tagged , , , , . Bookmark the permalink.

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