“Much of American wealth is an illusion which is being secretly gnawed away and much of it will be completely wiped out in the near future….So what is the rest of your future? A grisly list of unpleasant events — exploding inflation, price controls, erosion of your savings (eventually to nothing), a collapse of private as well as government pension programs, and eventually an international monetary holocaust which will sweep all paper currencies down the drain and turn the world upside down.” . . . financial advisor Howard Ruff (writing in 1979 – The Ruff Times) . . .
“For Americans who don’t think the welfare state riots of France or Greece can happen here, we recommend a look at the union and Democratic Party spectacle now unfolding in Wisconsin. Over the past few days, thousands have swarmed the state capital and airwaves to intimidate lawmakers and disrupt Governor Scott Walker’s plan to level the playing field between taxpayers and government unions. Mr. Walker’s very modest proposal would take away the ability of most government employees to collectively bargain for benefits. They could still bargain for higher wages, but future wage increases would be capped at the federal Consumer Price Index, unless otherwise specified by a voter referendum. The bill would also require union members to contribute 5.8% of salary toward their pensions and chip in 12.6% of the cost of their health insurance premiums. If those numbers don’t sound outrageous, you probably work in the private economy.” . . . The Wall Street Journal . . .
“[Public-sector] unions are government organized as an interest group to lobby itself to do what it always wants to do anyway — grow. These unions use dues extracted from members to elect their members’ employers. And governments, not disciplined by the need to make a profit, extract government employees’ salaries from taxpayers. Government sits on both sides of the table in cozy ‘negotiations’ with unions.” . . . columnist George Will . . .
“At the union protests in Wisconsin, several doctors were on hand to write fake excuse notes for teachers who called in sick to attend the rallies. Wonder if this is some of that medical waste, fraud, & abuse that Obamacare was supposed to fix?” . . . former Senator Fred Thompson . . .
“The modern Welfare State is merely a complicated arrangement by which nobody pays for the education of his own children, but everybody pays for the education of everybody else’s children; by which nobody pays his own medical bills, but everybody pays everybody else’s medical bills; by which nobody provides for his own old-age security, but everybody pays for everybody else’s old-age security; and so on. [Frederic] Bastiat exposed the illusive character of all these welfare schemes more than a century ago, in his aphorism: ‘The State is the great fiction by which everybody tries to live at the expense of everybody else.'” . . . economist Henry Hazlitt (1894-1993). . .
“Aren’t investments those things that people make after they’ve paid all their necessary expenses in the present and paid off all their debts for past purchases? That’s how we define investments in our family. There have been times when either my husband or I have taken an extra odd job just to have a bit to add to an investment fund. But for the life of me, I can’t remember a single time when we used bread money or bill money to invest in anything extra. So President Barack Obama has either lost his bearings completely or else he fully intends — as long as he’s in the driver’s seat — to drive our little economic dune buggy off the cliff to the place where civilizations go to die. Are we still on the car-in-the-ditch metaphor? It’s hard to keep track.” . . . columnist Kyle-Anne Shiver . . .
“Since there is no such entity as ‘the public,’ since the public is merely a number of individuals, the idea that ‘the public interest’ supersedes private interests and rights can have but one meaning: that the interests and rights of some individuals take precedence over the interests and rights of others.” . . . author Ayn Rand (1905-1982) . . .
“You cannot claim both full equality and special dispensation.” . . . journalist William Raspberry . . .
Have a good weekend,