So, I had this notion of a post running about in my head earlier today when I read this. It’s about a Tweet from crazy Bernie Sanders ……
You have families out there paying 6, 8, 10 percent on student debt but you can refinance your homes at 3 percent. What sense is that?
Bernie, this makes you a dumbass.
People were quick to note a perfectly simple explanation for the interest rate divergence ……
It’s so weird that someone whose platform is all about economics doesn’t understand secured debt and collateral. https://twitter.com/SenSanders/status/680789930482778113 …
Yes, a home has a value which is put up as collateral if one fails to make the house payments, the bank may take possession of the house.
But, that bit of imbecility is from a self-professed socialist. One expects such stupidity from a professed socialist.
However, there’s another prominent politician which recently expressed a lack of understanding a fundamental principle of free trade/free enterprise/free markets/capitalism.
Paul Ryan, the Republican Speaker of the House, had this to say in a recent interview with radio host Bill Bennett in response to questions about the expansion of H-1B and H-2B visas (skilled and unskilled foreign workers).
Ryan warned, “The point is these businesses would have shut down without this and that’s what we didn’t want to see happen. We didn’t want to see businesses, who are seasonal, shut down because they couldn’t get the labor. That’s why this provision was passed in July.”
Let me make this as clear as I possibly can. In order for a free trade/market system to work it is most essential to allow for failure. It is the failure which causes improvements. Without allowing for failure there can be no improvements.
The fact is we have more Americans available for work than we ever have at any point in time in the history of the US. In other words, there has never been more of a labor surplus in the United States.
There has always been American citizens available for seasonal work. I used to do seasonal work. The nearby recently closed Amazon plant was filled with seasonal workers every holiday season. Young and old, local and people from distant places within the US. We had mobile trailer parks specifically built to serve these people who came every year to work at Amazon.
It isn’t that Americans are not available for seasonal jobs, it is that many of the seasonal jobs simply don’t pay enough for honest law abiding and tax paying citizens.
Let’s reword the Ryan quote and have it come from a different person …… If we could just lower the standard of living for the average American worker across the nation, then my business wouldn’t need to import labor.
This, of course, plays to the lowest common denominator and is a prelude to a never ending spiral of a search for ever cheaper labor.
The whole point of a free market is that it improves the majority of people, not the select few. Unnatural government intervention which props up businesses which would otherwise fail thwarts the natural selection process of businesses.
If a business is going to fail without extraordinary intervention of a government, then the business is suppose to fail to allow for a better business to arrive in its stead.
Does Ryan really believe we won’t have meat packing plants if we don’t import cheap labor? This is reminiscent of the idiotic lettuce picking argument. For many imbeciles, they believe we need illegals from the south to do our lettuce picking, else our lettuce farmers would all go away. <—— That’s a most asinine presumption! Will Americans suddenly stop eating lettuce?
The whole point of a business is to provide for a demand by the consumers. I promise, Americans will not quit eating meat and lettuce if we don’t import cheap labor.
What would happen, I promise, is that a better business model would supplant the failed business model and provide for the demand for basic American food staples! All the while being forced to accommodate the demands of labor. Anyone believing anything different has a simple and basic misunderstanding of a free economic system.
The responsibility of our national leaders isn’t to ensure certain businesses survive, but, it is their obligation to the American people which should be paramount.
To the people of Wisconsin and Vermont …… quit electing these dumbasses!
There’s really very little difference between a Republican like Paul Ryan and a socialist like Bernie Sanders, they’re both statists.