Thursday, August 25, 2016

The biggest jobs program since World War 2!

Hillary Clinton is promising to enact "the biggest infrastructure and jobs program that we've had since World War II," according to Yahoo writer Rick Newman.

Oh great. According to Newman:
Clinton's plan would amount to $300 billion in transportation projects spread over five years... That $300 billion would come from new taxes on the wealthy...
Oh great. Do these people never learn? That taking money from rich individuals and spending it on crony capitalist "infrastructure" deals is bound to be a net loss economically? Because the things that rich people would have done with their money would have done more for economic growth and "jobs" than the crony capitalist/union deals that government calls "infrastructure."

Of course, they don't want to learn. The ruling class does not have much interest in reducing the size of government and releasing resources to the private sector. Where's the power in that? Where's the pay for play?

Also, the Clintons have done us a favor with the corrupt Clinton Foundation links to the State Department under Hillary Clinton. It has shown us how expensive it is to keep a presidential operation in being, and how politicians will stop at nothing to fund their political operations, and how the world is full of people eager to pay for play with politicians.

So of course when the politicians get into office they need "infrastructure" programs to pay off their supporters.

But the sad thing is that the journalists of the nation -- Rick Newman excepted -- allow this to go on without protest. Hey, liberals: I thought protest was your thing. There are all kinds of issues, mostly about evil Republicans, for which the journalistic response is immediate recourse to protest or the fainting couch. But the journalists of the nation seem to be able to digest economic and Democratic Party sponsored rubbish three times a day without so much as a hiccup.

Let us get this straight. All government spending, from the Pentagon to the latest wizard wheeze for an offshore wind farm, is a weight on the economy. Period. All economic regulation, from labor laws to building codes, is a weight on the economy. Period. Some of these things may be good ideas, and not just special interest giveaways, but they are good in spite of the damage they do to the economy. We may say that we want to spend money on Social Security to help seniors, but those monies sent to the government are monies that might have been saved for private investment. We may say that we want a living wage of $15 per hour, but that means that unskilled minority youth gets screwed.

But you won't see liberal journalists writing things like that. And you have to wonder why. I think that most of the time liberal journalists are strategically incurious about economic knowledge; they instinctively know that economic knowledge is bad for their career. Also, I suspect that there is a "you'll never work in this town again" aspect to journalism. You go along to get along. Or else. I suspect there has been quite a lot of that during the Obama administration.

The fact is that the Great Enrichment of the last 200 years has been a surprise all the way. It is my belief that the Great Enrichment, seen as a succession of surprise innovations, has succeeded because most of the time the special interests and their bribed apologists in government and media did not see it coming. And when they finally realized what was happening and mobilized against the innovation -- e.g. cab cartels against Uber -- it was too late. Except in Austin, Texas. But Austin, Texas, is a liberal town.

All along, during the last 200 years, one crank idea after another has come along to discredit capitalism and the Great Enrichment. And intelligent, educated people have believed each one and boosted it. Marxism, Fabianism, Institutionalism, the National Industrial Recovery Act, cheap money, economic regulation, Keynesianism. The educated ruling class has lusted after anything that could discredit capitalism. Yet one after another, these gods have failed. What is wrong with these people?

Yet here we have Hillary Clinton running on increasing taxes and rolling out yet another stimulus program.

OK, I'm not dumb or somep'n. I know what it's all about. It's because the average voter doesn't give a flying fig for economics and the market system. All the average voter cares about is the prospect of some loot from the government. Although I suspect that the average voters doesn't really understand how many middlemen get their cut when politics is involved.

It was the conceit of the present educated ruling class, decades ago, that an educated ruling class, relying on the advice of experts, would use the best science and knowledge to govern wisely and well and neutralize the brutish instincts of the hoi polloi and the corrupt spoils system.

Instead, it has governed by appealing to ignorance and greed. Just like every other ruling class in history. And today's spoils system, featuring the Clinton Crime Syndicate, makes the spoils systems of Tammany Hall & Co to be Boy Scout stuff.

So when will the kid show up to tell us that the emperor has no clothes?

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