Nation of Moochers
Sam riffs on this FoxBiz story.
So does Denninger.
Which way do you think Team Moocher will vote in 2012?
I think we just lost #4 engine.
Feather #4....feather #4....
posted by Concerned American | 1:07 AM
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Thursday, April 21, 2011
Sam riffs on this FoxBiz story.
So does Denninger.
Which way do you think Team Moocher will vote in 2012?
I think we just lost #4 engine.
Feather #4....feather #4....
4 Comments:
It's surreal, and it's happening right in front of us.
I think to myself- if it's this clear to me, it has to be wrong; there's something I don't understand...
This is merely denial.
Don't worry everyone. This will culminate soon. Then all of this talk will go away; and it will be showtime.
On the bright side, we could explode into a fireball before hitting the water.
There's always that, I guess.
AP
AP, very true. As a historian, I read about numerous empires and kingdoms that made the same mistakes we are and fell to ruin. I close the book and think "God help us, we're about to repeat."
Fortunately, there is still time to swap seats with other passengers so you are closer to the emergency exit...
Denninger writes: "You cannot have "free trade" with a nation that has a per-capita income that is a tiny fraction of your own. Such is nothing other than exporting your labor and wealth to that nation, and it never comes back so long as those policies remain.
The same holds true so long as you allow illegal immigrants to come into the country and undercut the wage base of Americans here. These policies must end."
Wrong. A best-in-the-world producer and a mediocre producer can still profitably trade for mutual advantage, by allowing each to specialize. This is basic Austrian economic analysis, and you can google worked examples with numbers. What other economic and political analysis does he get wrong?
@Disciple of Night: "Fortunately, there is still time to swap seats with other passengers so you are closer to the emergency exit..."
Emergency exits are useful in a controlled ditch. This is going to be more like the American Airlines Flight 11/North Tower interface. The best we can hope for is a Flight 93 slam into the ground while brave folks are fighting for the controls.
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