Category Archives: Labor

How Is The Oink Sector Holding Up?

Debt, Economy, Government, Labor, Political Economy, Socialism, Taxation, The State

How surprised is everyone that, as Cato Institute scholars affirm once again, “Federal workers make substantially more than private workers, not less, in addition to having a large advantage in benefits.”

Says USA Today: “Federal employees earn higher average salaries than private-sector workers in more than eight out of 10 occupations, a USA TODAY analysis of federal data finds.”

“Accountants, nurses, chemists, surveyors, cooks, clerks and janitors are among the wide range of jobs that get paid more on average in the federal government than in the private sector.”

“Overall, federal workers earned an average salary of $67,691 in 2008 for occupations that exist both in government and the private sector, according to Bureau of Labor Statistics data. The average pay for the same mix of jobs in the private sector was $60,046 in 2008, the most recent data available.”

What’s more, “The number of federal workers earning $150,000 or more a year has soared tenfold in the past five years and doubled since President Obama took office, a USA TODAY analysis finds”.

“The fast-growing pay of federal employees has captured the attention of fiscally conservative Republicans who won control of the U.S. House of Representatives in last week’s elections. Already, some lawmakers are planning to use the lame-duck session that starts Monday to challenge the president’s plan to give a 1.4% across-the-board pay raise to 2.1 million federal workers.” … MORE.

[SNIP]

From “Life in the Oink Sector”: “In the private sector a worker is paid for his productivity. If he were overpaid—in other words, remunerated more than he produces—the proprietor would go belly up. No business means no jobs.”

“Set aside the question of whether productivity—output per unit of labor—is the appropriate gauge in an enterprise, government, that confiscates and distributes wealth, but produces nothing. Understand this: Backed by the power of the State, the sponger sector has unlimited access to income not its own—it has the power to tax, borrow and mint money out of thin air. With such usurped authority, why would public debt that runs to the trillions deter the ongoing orgy?”

“By the standards of honest, if unorthodox, accounting, government workers, moreover, don’t pay taxes, but are paid out of taxes. In other words, they pay taxes out of money confiscated from taxpayers, who, in turn, pay taxes twice: on their own income and on the income of members of the bureaucracy.”

At the very least, state workers should not be allowed to vote, since a group that is able to vote itself raises and other perks, will do so with a vengeance. Again, why the surprise? This is why government should not be a source of so many professional parallels. Privatize these positions, the market will sort out the rest.

Zombie Zakaria Has Some “Ideas” For You

Affirmative Action, America, Education, Europe, Government, Labor, Multiculturalism, Outsourcing, Political Economy, Science, Technology

Fareed Zakaria: is there anyone more inane and wishy-washy than he? Zombie Zakaria’s “Restoring the American Dream” presentation is in the tradition you’ve come to expect from this CNN pundit.

Thus, Fareed vows to “bring you solutions” to “the hollowing out of the middle class” by growing the state’s role in R & D, for, as he concludes, “Almost all of the science and technology research that we take for granted now came out of the Defense Department spending post World War II.”

But surely, and logically, we cannot assert that because the DOD (the Department of Defense) gave rise to certain technologies, without it these inventions would not exist, as ZZ claims? It might be the case that sans state intervention, there would be even more innovation than with it.

This guy’s “ideas” are festooned with similar falsehoods.

Another of ZZ’s lessons comes courtesy of the super-productive German workforce.

“Despite some of the highest wages in the world, strong unions, lots of regulation, Germany has maintained a very powerful manufacturing base, employing millions,” ZZ opined. “It has held in good stead during this economic crisis. Germany’s unemployment rate has actually fallen for the past 15 months straight, an unbelievable record in this economic climate.”

As ZZ narrated the above passage, images of industrious German factory workers flashed on the screen, and were contrasted with the long lines of the unemployed in America. Guess what the American assembly and unemployment lines look like? You are right: By comparison, the German workforce so famous for its industry looked relatively homogeneous.

Still, ZZ hopes to apply efficiencies learned from the German cohort to America’s increasingly third-world, imported, underclass of workers. (“The United States,” we are told, “now ranks 52nd in the world in quality of science and math education.” It used to have “very high levels of performance in math and science.” What happened other than suffocating unionization in education, third-world immigration, and affirmative action?)

As Fareed and his well-to-do, high-achieving (indubitably high IQ) guests conclude, and I paraphrase, opportunities are indeed boundless if somebody has the smarts and the motivation; everybody can be the designer of an iPod or a programmer at Google; this essentially, is not a rarified group. Any one can get to be at “the top end of America.”

ZZ’s smart panel, which can never be called an interest group plumping for government/taxpayer subsidies (no never!), included Eric Schmidt, CEO of Google; Muhtar Kent, chairman and CEO of Coca-Cola; Lou Gerstner, who has run R.J. Reynolds, American Express and IBM; and Klaus Kleinfeld, CEO of Alcoa, the aluminum giant.

All were agreed that laborers are interchangeable in as much as potential is concerned, and if given the right conditions by government.

I have advocated in my writings for “a natural shift from a credit-fueled, consumption-based economy, to one founded on savings, investment and production.”

ZZ favors only a shift from consumption to investment; massive federal-government investment.

“11 Long-Term Trends That Are Absolutely Destroying The U.S. Economy”

Business, Debt, Economy, Labor, Outsourcing, Political Economy

The Business Insider’s list of “Long-Term Trends That Are Absolutely Destroying The U.S. Economy” should form the sub-headings issuing from an overarching main causal agent: The State, its onerous regulations, and its mint. Over the decades, the Federal Reserve Bank, with State imprimatur, has debauched the currency and it manipulates interest rates so that the economy can never self-regulate.

In any event, The Business Insider may, at times, confuse cause with consequence, but, at least, it has looked beyond short-term trends; in itself a break from the trend.

See what you think (and do follow the hyperlinks before you accuse me of being remiss):

Long-Term Trend #1: The Deindustrialization Of America.
Long-Term Trend #2: The Exploding U.S. Trade Deficit
Long-Term Trend #3: The Shrinking Middle Class
Long-Term Trend #4: The Growing Size Of The U.S. Government
Long-Term Trend #5: The Constantly Growing U.S. National Debt
Long-Term Trend #6: The Ongoing Devaluation Of The U.S. Dollar
Long-Term Trend #7: The Derivatives Bubble
Long-Term Trend #8: The Health Care Industry
Long-Term Trend #9: Financial Power Is Becoming Concentrated In Fewer And Fewer Hands
Long-Term Trend #10: Rampant Corruption On Wall Street
Long-Term Trend #11: The Growing Retirement Crisis That Threatens To Bankrupt America

See the details HERE.

"11 Long-Term Trends That Are Absolutely Destroying The U.S. Economy"

Business, Debt, Labor, Outsourcing, Political Economy

The Business Insider’s list of “Long-Term Trends That Are Absolutely Destroying The U.S. Economy” should form the sub-headings issuing from an overarching main causal agent: The State, its onerous regulations, and its mint. Over the decades, the Federal Reserve Bank, with State imprimatur, has debauched the currency and it manipulates interest rates so that the economy can never self-regulate.

In any event, The Business Insider may, at times, confuse cause with consequence, but, at least, it has looked beyond short-term trends; in itself a break from the trend.

See what you think (and do follow the hyperlinks before you accuse me of being remiss):

Long-Term Trend #1: The Deindustrialization Of America.
Long-Term Trend #2: The Exploding U.S. Trade Deficit
Long-Term Trend #3: The Shrinking Middle Class
Long-Term Trend #4: The Growing Size Of The U.S. Government
Long-Term Trend #5: The Constantly Growing U.S. National Debt
Long-Term Trend #6: The Ongoing Devaluation Of The U.S. Dollar
Long-Term Trend #7: The Derivatives Bubble
Long-Term Trend #8: The Health Care Industry
Long-Term Trend #9: Financial Power Is Becoming Concentrated In Fewer And Fewer Hands
Long-Term Trend #10: Rampant Corruption On Wall Street
Long-Term Trend #11: The Growing Retirement Crisis That Threatens To Bankrupt America

See the details HERE.