This chart is from Theo Spark’s blog. It shows the contrast between dwindling labor force participation and exploding food stamp subscription.
The great Herb Stein is noted for his postulate that “things that can’t continue won’t”. The problem is that this postulate doesn’t come with scales to measure when we’ll reach the break-down point.
Neither The Donald or Crooked Hillary can do much. In fact, the policy prescriptions they spout will likely only accelerate Zero Hour.
Here are some things that will break, and when it happens, there should be no surprise…
- Social security and other entitlements will be cut back … Ultimately with means testing. That means that productive citizens who live within their means and put away money for retirement, will get nothing!
- Illegal immigrants will have to be legalized. Despite the heat of the current political debate, illegals have to brought out from the shadows so they can be taxed!
- Immigration in general has to “fixed” to go from the free flow of unskilled (i.e., Latin American) immigrants to high skill groups. Since “native” Americans are checking out of the workforce and checking into Mom & Dad’s basement, they’ll have to be replaced by an ambitious cadre who will seize the opportunities they’ve wasted.
- The monetary system has to be “revalued” … at least heavily inflated. Today’s debt and future debt service has to be reduced as a percent of total GDP, otherwise we end up insolvent.
- Environmental regulations will have to be scaled back so that mineral rights, forestry, and sales offederal land can be exploited as a source of cash
On this last one, the Federal Reserve probably has to be cashiered as we currently understand the US Central Bank. Since 2008 it has proven incapable of juicing GDP growth or full-employment. It has been unable to accomplish its primary goal of inflation, being stymied by the over-regulated banking and capital markets.
When the breakdown begins, maybe we can also have a discussion of first principles. Namely, that “entitlements” are NOT rights, but rather social-political agreements.
Logic certainly eludes most people when they blather on about politics. But the one term we need to stop is the lose use of “rights” when talking about healthcare or retirement. When someone else has to foot the bill for your groceries or medical bills -forcibly- we are not talking about rights!