Saturday, February 21, 2009
Chris's Words of Wisdom (WOW)
“This country will collapse economically, when the government cannot pay for the seemingly reasonable demands of the people .”
ChrisZ
I wrote this over 8 years ago - the next bubble will be the government bubble - what we are seeing this year in CT, IL and many other states.
My claim is that the state budgets are not allowed to expand and CONTRACT, like they do in normal business. This is why government jobs always have to lag behind jobs in private industry. For example:
Geno Auriemma is a great coach, but he should not be making 2 million dollars a year at UCONN. His salary should have been capped at around $500,000. "Then he would have left UCONN!" Right, and someone would have taken his place. "But we would have not won all those championships!" Maybe, maybe not; but winning championships just led to more spending and increased taxes.
Teachers salaries and pensions should be phased out and moved to IRA's. Current teachers with pensions should have them adjusted to current economic conditions. No one group should be guaranteed isolation from the ups and downs of the economy and still be paid more than the average worker with the same skills.
Companies who lay off people because it is cheaper to deploy robots and pay unemployment, should be taxed extra for replacing people in the first place. Technology is driving the economy and making a small group of people wealthier, with out any concern for the collateral damage in their wake. You cannot claim protection against third world competitors while making record profits....
I give these as examples - not to pick on any person or group - every person is looking out for their own good. Nothing wrong with that unless they look at the world as a unlimited salad bar. The world is closer to a zero sum game, than an win/win or infinite sum game.
ChrisZ
