"The most significant threat to our national security is our debt," Admiral Michael Mullen, Chairman, Joint Chiefs of Staff, August 27,2010

Wednesday, March 4, 2009

The Golden State and The Golden Egg

TheFundamentals has focused its attention on deficits and debt at the national level. Deficits and debt are destructive forces usually following their handmaiden greed. Greed is one of the seven deadly sins. It is part of the human condition and it destroys dreams.

Read about the destruction of the American Dream in California at http://www.newsweek.com/id/185791 and http://www.latimes.com/business/la-fi-jobs28-2009feb28,0,7903208.story

The first article is replete with a litany of the destructive forces in the Golden state.
A key destructive force is public-sector unions. To read about some other examples of public-sector unions and their inflated wages, benefits and pensions that are being paid by working/taxpaying Americans who have no likelihood of ever receiving any such largesse, just click on the links listed under the heading Feeding at the Public Trough located in the left margin of this page.

What can we do about this situation? First, DO NOT GIVE UP. Second be aware that the apparent first act of Messrs. Bush and Greenspan and now the second act of Messrs. Obama and Bernanke to bankrupt the US of A will ultimately stop at the boundary of well run states. Take action locally to stop the spending, stop the public-sector union greed and elect officials who will vow to balance budgets, pay down debt and limit public employee compensation and implement defined contribution retirement plans (more in the future on this topic.) Emigration to states with these responsible policies is already underway. These states will have the new jobs because business is stifled in the other states.

A brief lesson in greed was captured by Mr. Aesop centuries before the birth of Christ. His fables include the lessons of life that withstand the changes of the modern era. The lesson of the Golden Egg is available at http://www.tumbletales.com/stories/story3.html or your library.

The bodybuilder from Austria should have spent some time in the library.

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