Tuesday, March 01, 2011

Non-whites, youths overwhelmingly support public sector unions in Wisconsin

Argue over whether or not reparation payments are owed to blacks by the descendants of whites who brought the ancestors of these blacks to a country where today they enjoy more than ten times the purchasing power of their cousins back in sub-Saharan Africa? That debate is taking place in states like Wisconsin, Indiana, and Ohio right now.

Pew Research released a survey in which respondents were queried on whether they supported Wisconsin public sector unions or the state's governor, Scott Walker, in the dispute over the collective bargaining rights of the former. Among whites, support for the unions and for Walker are at parity (38% to 36%, respectively). Among non-whites, though, it's a different story. The unions are backed by 51% of non-whites, while only 19% support Walker.

Parenthetically, I was vaguely under the impression that support for unions would mirror their presence in the workforce over time. Consequently, I would've guessed that older folks would be more inclined to back the unions than the twenty-somethings who are having an especially difficult time finding teaching jobs and the like because of union protections that allow existing costly and tenured public sector workers to comfortably remain on their jobs.

Nope. Among those aged 18-29, 46% back the unions compared to only 13% standing behind Walker. For those aged 65 and over, Walker actually wins, 45% to 33%.

In his most recent podcast, the Derb solemnly warned the American public that economic ruin looms unavoidably on the horizon (see item #8):
What is most likely to happen in the near future is that the present feeble recovery will stall and we shall slip into another recession, with the deficit still unsustainably huge. There will then be no prospect of stimulus or bail-outs. The U.S. government will perforce respond to that next recession not by increasing spending, but by cutting it.

That's the right thing to do for long-term improvement; but in the short term, with the debt overhang already humongous, it will leave the economy dead in the water. Even the feeble, unconvincing recovery we've gotten as a result of the last two years' spend-o-rama won't be possible.

In that situation, investor confidence will at last collapse. The markets will dump our sovereign debt, and the only way — absolutely the only way — for the feds to meet their domestic obligations will be by massive and sustained inflation. Your savings will become worthless, a gallon of gasoline will cost $500, and your city police and fire services will be laid off.

Bottom line: Get in lots of canned food, bottled water, and ammo. It's going to be very bad. I don't see any way out. This is serious; I'm not kidding.
As someone of a generally optimistic disposition, I want to shrug this sort of disaster auguring off as hyperbolic apocalyptic porn. But that just keeps becoming more and more difficult to do.


Stopped Clock said...

Young people are easy prey, politically. It reminds me of how, in a recent election in the UK, most of the university students voted Labour, even though the Labour party (in keeping to their philosophy of representing the working class) immediately cut subsidies for college students which had been subsidized by taxpayers for decades. Then the college students got all upset and went on protest marches to make the Labour people feel bad for "betraying" them.

And the young are mostly in support of the healthcare reform in the USA which will raise the cost of their health insurance from nearly nothing (I was recently able to get full coverage for $190 a year) to thousands of dollars because suddenly "age discrimination" is such a horrible thing (but don't worry, it's still OK to age-discriminate against young people, in car insurance and other things).

Maybe the young are just more generous than the old, since they've been children for most of their lives. But I think for the most part they're just falling for the same easy lie as the older pro-union adults are, namely that the unionized workers are the core of the working class, just barely getting by in a long struggle to feed their families, and thus are deserving of special treatment at the expense of the other 94% of the population.

josh said...

Would monetizing our debt increase the money supply? How is a bond backed by the full faith and credit of the USG different from a dollar backed by the same?

Anonymous said...

"As someone of a generally optimistic disposition, I want to shrug this sort of disaster auguring off as hyperbolic apocalyptic porn. But that just keeps becoming more and more difficult to do."

Yeah, the thing that keeps coming to my mind is that so many folks in the US actually have valuable and essential skills. There is widespread ability to deliver goods and services; everything from farming to energy to medicine. Crappy consumer goods, well, no, but all the necessary stuff, we have. Truth be told, we probably produce enough domestic oil, gas, hydroelectric, nuclear power etc. to service all the productive members of society. Yes, our dependency ratio is that high. It will be hell for those with nothing to trade. Things probably will have to get desperate before whites will defend their own and hide from the socially dependent.

Tino said...

Derb is great, but he is wrong about the economy. It will recover. The problem is what will happen 20 years from now.

Anonymous said...

I predicted last year that inflation would be the way they would choose to get out of the situation. Paying off 1% interest with inflated dollars is the quick an easy way to get down the debt. No cuts no taxes. It won't be fun but watch it will happen