Friday, July 19, 2013

Another One Bites The Dust - Detroit Runs Out Of Other Peoples Money

Its a mystery to the informed people of the world as to why, despite the mountains of irrefutable evidence, supposedly educated people still fall for the idea that socialism is the cure to the worlds problems.

The history of all hitherto existing society is the history of socialist failure. Wherever this system has been imposed it has always ended in poverty and misery. Since socialism was first codified by Karl Marx it has always failed.

There has never been a philosopher so consistently wrong than Karl Marx and yet he is still revered by some of the most educated and influential people on the planet. From Presidents, Prime Ministers, Professors, Union Leaders, Industrialists, Rock Stars, Film Stars etc. down to dumbest of brain dead celebrities.

News that Detroit has filed for bankruptcy should come as no surprise to anyone capable of basic arithmetic, but as the whole rational world has learned from other failed entities, including entire countries, the rules of arithmetic don't apply to socialists. They continue to believe that spending more than is earned in revenue can go on indefinitely. They don't seem to be able to grasp the simple fact that continuous spending more than revenue results in unsustainable debt and bankruptcy.

Detroit may be the biggest casualty of economic incompetence so far but it isn't the only one. It may not be the biggest for much longer either as the entire State of California is going belly up. The one thing that these bankrupt cities and states have in common is that they are all run by socialist administrations who are often backed and financed by vested interests, including the agenda driven trade union leaders.

It is beyond dispute that the auto industry unions, aided and abetted by their bought and paid for political puppets, played a major role in the demise of Detroit. Their ridiculous union agreements, sometimes running into thousands of pages, were so restrictive as to make their industry uncompetitive.

The fallacy that trade unions are the guardians of good wages and job security is never challenged by politicians or the media but the fact is that the unions' involvement with politics and an ideological agenda has cost millions of jobs.

One would have thought that lessons would have been learned from that other industrial powerhouse across the pond. Whole industries in Great Britain were closed down and millions of jobs lost due to trade union leaders pursuing their political agenda.

As has been highlighted before, where there is taxpayer's money and politicians there will be corruption. This cannot be better highlighted than by the situation in Bell City, Los Angeles.

Reading about the behavior of politicians world wide, these thieving buggers in Bell are typical, not an exception. The situation in Bell is laughable and well worth a read.

The sad part is that thousands of lives have been ruined by these socialist politicians' inability to understand that you cannot keep taxing the productive private sector to finance largess in the deliberately bloated public sector.

Rational people will live in hope that the bankruptcy of a powerhouse city like Detroit and the imminent demise of the State of California will prompt the political class around the world to stop spending their hard working citizens into poverty and economic oblivion.

In conclusion, what of the former residents who were once proud of their association with Detroit?

Its a recurring theme on this site that the wealthy advocates of equality and fairness, who call themselves 'progressive', never have to suffer the consequences of what they impose on everyone else. It would appear they didn't stick around when the going got tough and legged it somewhere else where they can enjoy the luxury that Detroit once offered.

The cheering fact is that by the time their hero, the 'Progressive in Chief', has finished with his fundamental transformation of America there will be nowhere left for them to run to.

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