This article is by my coleague Kurt Hofmann. He comments on the political bias in California gun laws. Los Angeles says civilians can’t have access to a loaded gun, but off duty and retired law enforcement can. Some political contributors are clearly more equal than others.
Read Kurt’s article here==> If Retired Cops Are Safer With Unlocked Guns, Why Aren’t the Rest of Us?
I was thinking about the terribly self-serving politicians we see in Washington. And then I thought of George Carlin’s remarks about politicians. Carlin blames us, the voters, not them, the politicians. I know admirable men and women, and these politicians are the best we could do? WE put these politicians in office.. again and again.
That brought Battista to mind, so here is today’s quote of the day-
An error doesn’t become a mistake until you refuse to correct it.
Happy Independence Day
I wrote about Greece facing bankruptcy here. Today, Greece skipped their scheduled payments to the IMF. Greek finance minister Yanis Varoufakis said that Greece wouldn’t pay the IMF. Maybe my wish came true that Greece would repudiate its debts. Read more about the Greek default here: http://www.businessinsider.com/greece-misses-its-imf-payment-2015-6#ixzz3ebad7Wfp
The US territory of Puerto Rico wants to declare bankruptcy too. Economic output in Puerto Rico has been falling for the last decade. Puerto Rico is bleeding both money and its educated young men and young women. U.S. lawmakers sponsored a bill this week allowing Puerto Rico to file for bankruptcy. The governor of Puerto Rico has until the end of August to submit an economic and financial reform plan.
There are many successful states Puerto Rico could emulate as it reforms. The government of Puerto Rico can’t do so. I predict the government of Puerto Rico will keep the regulations and government kickbacks that drove business out of Puerto Rico. Those are the same kickbacks and crony regulations that put the existing government in power. Like any bankruptcy restructuring, they can’t change their government until they get rid of their politicians. Read more here: http://www.miamiherald.com/news/nation-world/national/article25818208.html#storylink=cpy
This is fascinating.
My friend at the Armoured Porcupine wrote an article about firearms background checks. Some states wave the requirement for a background check if you have a concealed carry permit. A. P. asks what would happen if that was the rule rather than the exception-
Green Stripe and the Charleston Massacre
I’ve been advancing an idea for a universal background check system used in firearms transfers. This is a system that could not be used as a defacto gun, or gun owner registration scheme. That alone means that Bloomberg’s minions don’t like it. This concept could be used in private and commercial firearms sales without having to involve a federal firearms licensee. It doesn’t need an internet connection or a smart phone. Even the average Joe can judge if the prospective buyer is legal, or a prohibited person. The system is as simple as a colored stripe on the driver’s license or non-driver’s ID.
Green= GO!, Yellow= SLOW DOWN. No stripe means the person has to use the federal background check system through a gun shop.
Atlas is the figure in Greek mythology who holds the world on his shoulders. Today the Greeks are refusing to pay their confiscatory taxes.. taxes that keep the over-extended euro financial sector afloat. Today it is taken for granted that Greek citizens don’t pay their taxes. The ugly truth is that the Greeks can’t pay their taxes. I want the Greeks people to stop paying their taxes even if they could pay them. I want the Greek Atlas to shrug.
Nathan Lewis at Forbes pointed out the economic end-game of tax and spend socialism.
“Greece’s 45% payroll tax rate, plus its 23% VAT rate, plus a personal income tax system with a top rate of 46% (and the 32% rate hitting at only 26,000 euros of income), makes business activity basically impossible … unless you evade the taxes.”
The only way to survive in Greece is to be on the government dole rather than run your business or hold down a job. Greece has a political economy designed for government handouts. Those handouts are designed to keep politicians in power.
The current political decisions in Greece will determine who pays the un-payable Greek debts. Will the banks and bond holders take a massive write down on their loans, or will the Greek people take a massive write down on their assets due to inflation and continuing high taxes? Atlas shrugs and the financial world falls down.
I want the corrupt banks to take the hit. My reasons are selfish; I want to end indentured slavery. I want the indebted children of Greece to be able to walk away from their parents debts.. and remain in Greece. The current holders of government bonds are like slave owners controlling the lives of people born into financial debt. Let me make my case.
It is true that politicians pandered to self-serving voters. It is true that past voters burdened future tax payers. I expect nothing more or less from corrupt and corruptible men. I hope to stop these credit-card-politicians by putting the financial burden on the banks. I want any society to be able to reject the debts of the past. I want to end the financial inheritance of slavery.
I am not a populist out to screw rich bankers. I simply want the bankers to suffer because they make loans to people who could not pay.. people who passed their unpayable debts to the next generation.
The people of Greece could repudiate their debt. Alternatively, they could repudiate their children and leave their children in debt. Greek pensioners would then watch their children vote with their feet and leave Greece.
I am hoping that financial institutions will learn their lesson. I want the banks and bond holders to refuse to lend unsustainable levels of public debt.. debt that burdens future generations. Repudiating the debt should stop the means of enslaving our children even if the political desire remains in place.
Charles, this post is for you.
Rob the money lender