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Read your Marx better - Capitalsm is to collapse as a result of its own internal contradictions. The sorts of things that Obama has been doing delay that collapse. Let the Tea Party in and the collapse will come a lot faster, if Marx is correct.
Municipalities aren't going broke because the unions negotiated good retirement deals, they are going broke because of poor financial and fiscal management. Had they realistically valued the returns on retirement fund investments they would have made adequate provision for it and, most probably, would have resisted generous benefits. Instead they pretended they would get returns of ten or twelve or fifteen percent per annum on their investments which was a fantasy. Now both the municipal employees and the municipalities are paying the penalty for spending too much time in financial fantasyland.
Municipalities aren't going broke because the unions negotiated good retirement deals, they are going broke because of poor financial and fiscal management. Had they realistically valued the returns on retirement fund investments they would have made adequate provision for it and, most probably, would have resisted generous benefits. Instead they pretended they would get returns of ten or twelve or fifteen percent per annum on their investments which was a fantasy. Now both the municipal employees and the municipalities are paying the penalty for spending too much time in financial fantasyland.
In response to:

Spain: A Very Different Fiscal Crisis

frans2 Wrote: May 27, 2012 2:47 PM
You stole my argument - Joseph's interpretation of Pharoh's dream is wisdom that we should remember and incorporate in our policies.
In response to:

Spain: A Very Different Fiscal Crisis

frans2 Wrote: May 27, 2012 2:44 PM
Actually, those investments were wise but they have a very long term payoff and needed to be integrated with other decisions that offset those expenses. Unfortunately, the attitude in Spain was "I want it all. Now."
In response to:

Spain: A Very Different Fiscal Crisis

frans2 Wrote: May 27, 2012 2:41 PM
The lesson of the European countries and the U.S. government and the individual U.S. states is to not let your expenditures increase at the same or greater rate than the growth in revenues. When revenues are growing then it is time to put away money for when they next decline. "Balanced Budget" amendments are dangerous because they prevent governments from planning long-term because they don't discourage imprudence on the up side of the business cycle or provide any fix for the down side of the business cycle.
In response to:

Spain: A Very Different Fiscal Crisis

frans2 Wrote: May 27, 2012 2:35 PM
The minimum wage has a trivial effect on unemployment. Employers hire because they need to service their customers and if they don't have customers they won't hire. Furthermore, they'll suffer a decline in service quality and overtime in preference to adding headcount. The minimum wage is $5.50 (in International Dollars) per hour in Spain. The amount of revenue that an additional headcount needs to generate eachhour to pay for his salary and benefits is negligible. That isn't the problem. The problem is the lack of sufficient customers to make hiring additional employees sensible.
Great argument for getting them into society and paying taxes, isn't it?
Suggest you attend a course in logic. Only one exception is required to disprove your contention that everything the government does is short-term. I'll give you several: Interstate Highway System, research grants, space program, Pell grants, student loans. All long-term. As for your reading on EMR companies, the P/E will go up in the rush to invest and then decline as they settle into becoming utilities.
Please support your claims. How will it be terminal for the U.S.? What is your basis for saying that the U.S. is the greatest nation ever? What makes the democratically elected president a tyrant? How is Obama a jihadist? What evidence do you have that the destruction of the U.S. is Obama's goal? BTW I'd like to see your report card to prove that you actually made it through kindergarten.
You want the rest of us to be free to pay for your care when you show up in the ER? Thanks a lot. Ayn Rand called such people moochers.
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