Repeating the Same Old Cures With the Same Old Failures

                It is a continuous source of amazement and amusement that people still haven’t realized that so-called jobs bills from the government does absolutely nothing to improve employment. The last times it was tried not that long ago only served to run up the deficit which now has to be paid back somehow. FDR eventually realized that he couldn’t spend money fast enough to put a dent in the unemployment rate, but he went on doing it anyway which was part of the reason why in 1936, in part three of his New Deal, the economy only worsened and it was only WWII that changed things for the better in that regard. This cradle to grave mentality that the government is responsible for every need is why there are Riots in Greece with Italy, Spain, France, Portugal and maybe others beyond that will follow eventually.

                The interventionism which also was adventurism by the government during TARP etc. did not solve the problem either. One big example of why goes directly to General Motors. At that time they had – and this is far from being the first time I’ve reported this fact – they had over a million employees on retirement, disability, or one unproductive benefit or another while they had a mere 93,000 actually working. So how can this be supported ad infinitum? By anyone’s measure it can not, that is without big government bailouts which eventually will fall flat too once even that mountain of gold peters out. I said then and I say now they should have been allowed to go broke because then all contracts were null and void and could have been renegotiated at a sustainable rate.

                So trying to argue that jobs bills being held up in Congress is standing in the way of an employment Renaissance is the zenith of ignorance and imbecility, and very likely something else even more drastic. There is a credo which states that, “If you keep repeating the same behavior and keep thinking you will get a different result, then this is insanity”. So if we continue to pour funny money at a problem and yet no matter how much you throw at it, this too is insanity, no more, no less. If a doctor continued to treat his cancer patients with leeches and bloodletting and they continued to die, wouldn’t he be guilty of malpractice? Yes he would and to a criminal degree. This is how grave this mistake would be if we continued to try it.

                It is a continuous source of amazement and amusement that people still haven’t realized that so-called jobs bills from the government does absolutely nothing to improve employment. The last times it was tried not that long ago only served to run up the deficit which now has to be paid back somehow. FDR eventually realized that he couldn’t spend money fast enough to put a dent in the unemployment rate, but he went on doing it anyway which was part of the reason why in 1936, in part three of his New Deal, the economy only worsened and it was only WWII that changed things for the better in that regard. This cradle to grave mentality that the government is responsible for every need is why there are Riots in Greece with Italy, Spain, France, Portugal and maybe others beyond that will follow eventually.

                The interventionism which also was adventurism by the government during TARP etc. did not solve the problem either. One big example of why goes directly to General Motors. At that time they had – and this is far from being the first time I’ve reported this fact – they had over a million employees on retirement, disability, or one unproductive benefit or another while they had a mere 93,000 actually working. So how can this be supported ad infinitum? By anyone’s measure it can not, that is without big government bailouts which eventually will fall flat too once even that mountain of gold peters out. I said then and I say now they should have been allowed to go broke because then all contracts were null and void and could have been renegotiated at a sustainable rate.

                So trying to argue that jobs bills being held up in Congress is standing in the way of an employment Renaissance is the zenith of ignorance and imbecility, and very likely something else even more drastic. There is a credo which states that, “If you keep repeating the same behavior and keep thinking you will get a different result, then this is insanity”. So if we continue to pour funny money at a problem and yet no matter how much you throw at it, this too is insanity, no more, no less. If a doctor continued to treat his cancer patients with leeches and bloodletting and they continued to die, wouldn’t he be guilty of malpractice? Yes he would and to a criminal degree. This is how grave this mistake would be if we continued to try it.