Letters by a modern St. Ferdinand III about cults

 This is one of John Maudlin's best articles in a while [link]. The 'perfect world' he references is the fantasy utopia that economists or philosophers-cum-quacks, shape with their model projections about the US economy going forward for the next decade. To wit; 4 % a year growth in GDP [itself a spending algorithm and of little value]; 'core' inflation of 2% or less; defence cuts of 40%; no recession and no entitlement reform. With these 'insights' Obama et al can spend more money forever. These projections are from the 'non-partisan' Congressional Budget Office, or as many would say, the economic-projection bureau of the [un] Democratic cult which desires to run the USSA [into insolvency].

No other team of philosophers-cum-quacks, predicts a 4% growth in GDP. Consensus is more around 2 %. And as Maudlin states, in every decade there are on average 2 recessions, but not a single recessionary event makes an appearance in the 'non-partisan' projections:

“Now notice that there is not one decade without a recession, and most have two. Obama, the Senate, and the House all assume that we have vanquished the recession virus and will not experience that economic malady again in our near future.

Can I get any of my readers to make a wager with me that the US will somehow get through the rest of this decade without a recession? Buehler? Anyone? I thought not.”

No recession in the next decade ? Nonsense. Sounds like a cult belief akin to globaloneywarming.

Maudlin adds a very interesting set of facts to the above which should frighten non-Marxtards. In the past 20 years governments in the US have grown to such an extent, that they are now spending more per household, than household income. In other words, government per household is more important than private incomes. The trend to insolvency is inevitable – unless you are an economist, er quack.

“In fiscal 2010, according to numbers published by the Census Bureau and the Office of Management and Budget (OMB), net spending by all levels of government in the United States was $5,942,988,401,000. That equalled $50,074 for each one of the 118,682,000 households in the country.

In that same year, according to the Census Bureau, the median household income was $49,445. That means total net government spending per household ($50,074) exceeded median household income (49,445) by $629... As recently as 2000, the relationship between government spending and household income was dramatically different. Data from the Census Bureau and the OMB show that in that year net spending by all levels of government was  3,239,913,876,000. That equalled $29,941 for each of the nation’s then 108,209,000 households. In 2000, the median household income was $41,990... (A very interesting e-book called Completely Predictable)”

So in the 'cowboy', 'free-enterprise', red-in-the-tooth, 'capitalist' nirvana of the US, government spend per household has almost doubled in 13 years.....1999 must have been an age of unbridled destruction, darkness, ignorance, poverty and hopelessness. Today must be an era of enlightenment [babies murdered once even when born]; intelligence [reality TV]; values [redefining marriage and the family for a shrill minority cult]; tolerance [hate the Catholic Church, love Islam]; morality [state worship and regulating every aspect of life]. No Dark Age here. Just rose petals and dancing [like Cuba, only without the green drinks].

In any event the end result will be another government inspired disaster and contraction. Markets, Jews and the Church will be blamed. White Christian Conservatives demonized. Little from the future effects of a statist melt-down will be learnt. Why learn from history when we are all little gods and goddesses ? We are history, since we are the change we have been waiting for.