We all know the saying: “If you’re young and conservative you have no heart; If you’re old and liberal you have no money.” Millennials are not doing some of the things that previous generations of young people used to do – they (virtually) don’t get married, they don’t buy houses, apartments, or cars and they […]
We all know the saying: “If you’re young and conservative you have no heart; If you’re old and liberal you have no money.” Millennials are not doing some of the things that previous generations of young people used to do – they (virtually) don’t get married, they don’t buy houses, apartments, or cars and they don’t save any money. We can reasonably blame all this on their paltry incomes.
If I were 25, single, and had few prospects with respect to marriage or significant income then I too would be in favor of high marginal tax rates, free education and free health care. It’s all free to me because I don’t pay taxes. If house prices fall – great, maybe then I could buy one. If the stock market falls -whatever.
The young me would hate big corporations because they are devoted to finding the cheapest workers in the world, not providing me with training or a career path. That’s why I only stay at a job for 2 years max. Loyalty is so last-century. This economic system doesn’t invest in me so I don’t feel invested in it. What’s wrong with socialism anyway? Isn’t that what they have in those nordic utopias?
Bernie may have virtually no foreign policy ideas but my millennial self doesn’t read newspapers online or off. I know nothing of international affairs. I read Twitter and follow celebrities through social media. I sometimes read news headlines but never an actual article. I don’t read books, I play computer games.
It makes sense that when you destroy the feedback loop between unemployment and wage growth, you also destroy the workers engagement with the old system that put workers in the middle class – fifty years ago.
The Repubs have a similar problem but their answer is to double down on the same system. Like a religious fundamentalist they assert that the problem with capitalism is that we haven’t been devout enough. We have drifted toward socialism and lost our way. If we just close our eyes and pretend it’s 1960 then everything will be fine. This argument will never succeed with Millennials who relate to 1960 as much as they do to 1860, (apparently) social media doesn’t include much history. I’ m happy to see economic fundamentalism fail on both sides but both sides need to see that unfree trade has rotted the ship for young workers/voters. It has exploded income inequality so it’s easy to find wealthy political patrons but very hard to appeal and relate to voters unless you go outside normal boundaries.
This is an old story with a new extreme twist. It’s actually very European. What made us different was our ever growing middle class It made political extremism inappropriate. When you get radical extremes in income you should expect to see extremes in political choices.
I’ve described the Apple Computer method of generating extraordinary profits:
Make everything in the third world. Sell everything you can in the first world. Depend on other entities to pay those buyers first world wages. Pay your own first world workers as little as possible, regardless of profitability.
This has worked like a dream and […]Continue reading →
So we hear that our giant blood inflated parasite has a cold or it may be worse – a disease based on corruption. Will any of this reduce its need to suck our (economic) blood – hardly. If anything it makes China scared so it devalues its currency, thereby opening up the vein a little more.
If […]Continue reading →
The Paris climate talks ended with no agreement of any kind – none. The “deal” is to allow every country to set its own happy level of CO2 emissions. Isn’t that friendly? Go ahead China, India, America – knock yourself out. Pollute away. There are voluntary guidelines and NO penalties.
This is of course no different […]Continue reading →
We saw something this week that we have never seen before: GM announced that it will import the first 100% Chinese made car. It’s the Buick Envision.
GM is, as you might remember, the car company that survived the 2008 economic meltdown only by virtue of government money. Now that money is being used to […]Continue reading →
Now that we have a new Islamicist terror attack we are hearing calls for Muslims to denounce it and denunciations of their need to do so. After all (as the Washington Post said) why should we need to hear that a normal man going about his everyday business is not a Jihadist with designs on killing […]Continue reading →
In World War 2 the Danish people, led by King Christian X, agreed to all wear a yellow star on their coats to stand with their Jewish population. That defiance of the occupying German army completely stymied their efforts to round up Jews and send them to death camps. Here’s a WWII parallel I can get […]Continue reading →
The Middle East is a very complicated place where our enemies are often our allies – all depending on what policy we are discussing. The simple dumb rule that says that the enemy of your enemy is your friend, is almost never true. Our response to Islamic terrorism is invariably loaded with multi-part initiatives regarding […]Continue reading →
Bernie Sanders’ heart is in the right place but he sure does get carried away. That’s what makes him Bernie. He rails against Wall Street as greedy fraudsters. If it were that simple then why did Citibank for example (just to pick one) almost bankrupt itself by buying all those ugly mortgage bonds for its […]Continue reading →
The Rabid Independent
This site is devoted to finding solutions to America’s problems and commenting on public issues. Partisan noise is ignored or mocked. Let’s create our own post-partisan reality where reason wins.
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