Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: reality

New York Times Calls Out City’s Pension System

This article was first published at TheNewAmerican.com on Monday, Augusts 4, 2014:

NYC Mayor Bill de Blasio

NYC Mayor Bill de Blasio

In a nearly 4,000-word lead article on Sunday, the New York Times clearly articulated exactly what is wrong with the city’s five separate pension plans: too-optimistic investment assumptions, excessive fees, overly generous pension benefits, and political interference. Mere tweaking on the margins will only delay the inevitable Detroit experience: drastic benefit cuts for retirees and higher taxes on taxpayers.

In 2000, the city’s contributions to its five pension plans (general city workers, police, firefighters, teachers, and other school personnel) consumed just two percent of the city’s budget, and the plans were considered to be adequately funded. For instance, the plan insuring the city’s general workers was actually overfunded by 36 percent. Today those pension plans soak up more than

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The President’s Latest Plan to Flood Colleges with New Students

 

College Students Spending Time Outside

College Students Spending Time Outside (Photo credit: York College of PA)

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, June 18, 2014: 

Mr. Obama has never been very good at math or in getting his facts straight. His misunderstanding of basic laws of economics, however, is breathtaking. Last week, on Tumblr, he announced his latest plans to make it easier for high school graduates to borrow their way into college. First he’ll cap their debt repayments at 10 percent of disposable income. Second, if they default after 20 years, their debts will be forgiven.

Often in error but never in doubt, the president said:

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The War on Poverty Continues to be a War on the Family

This article first appeared at The McAlvany Intelligence Advisor on Friday, June 6, 2014:

 

Family 1

In less than three months, the War on Poverty announced by then-President Lyndon Johnson in August 1964 will be 50 years old. There ought to be some victors in this war that has cost the American taxpayer more than $17 trillion. And indeed, there are: the initial program, the Economic Opportunity Act, was funded by (in today’s diluted money) $178 billion. Today, there are 126 federal welfare programs and numerous state ones spewing forth taxpayer monies at the rate of a trillion dollars a year. That means government jobs for millions to monitor, track, follow, and spend, and then request additional funds for next year.

But what about the intended beneficiaries? How are they doing?

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Glenn Greenwald Catches Establishment Flak for His Book “No Place to Hide”

 

Headquarters of the NSA at Fort Meade, Marylan...

Headquarters of the NSA at Fort Meade, Maryland. Español: Instalaciones generales de la NSA en Fort Meade, Maryland. Русский: Штаб-квартира АНБ, Форт-Мид, Мэриленд, США (Photo credit: Wikipedia)

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, May 28, 2014:

 

Back in 1975, when Idaho Senator Frank Church was running the U.S. Senate’s Select Committee on Intelligence Activities (better known as the Church Committee), he warned:

The United States government has perfected a technological capability that enables [it] to monitor the messages that go through the air….

That capability at any time could be turned around on the American people, and no American would have any privacy left. Such is their capability to monitor everything: telephone conversations, telegrams, it doesn’t matter.

There would be no place to hide.

When Glenn Greenwald was looking for a title for his book, what better choice than that?

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Political Expediency wins over Economic Reality in Michigan

 

Lake Michigan Storm

Lake Michigan Storm (Photo credit: Tom Gill.)

This article first appeared at The McAlvany Intelligence Advisor on Friday, May 30, 2014: 

Michigan Governor Rick Snyder is no fool, but he’s also a realist: It’s an election year, pressure from the left to do something (even if it’s the wrong thing) is mounting, there’s a petition drive that could make things even worse, and so he caves and calls it good. In announcing that he signed into law a bill passed overwhelmingly by the legislature to raise the state’s minimum wage law by 25 percent over the next four years, he said:

This is something that is good for Michigan. It’s good for the hard-working people of Michigan and I believe it is economically sound….

I commend my [Republican] partners in the legislature for finding common ground on a bill that will help Michigan workers and protect our state’s growing economy.

Of course the new law will do no such thing.

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Michigan joins Other States in Raising Minimum Wage

Dollars

Seemingly determined to keep the state of Michigan near the bottom in employment rates among the fifty states, Republican Governor Rick Snyder signed into law Tuesday a bill to raise the state’s minimum wage by 25 percent. Snyder rejoiced that this was a good thing:

This is something that is good for Michigan. It’s good for the hard-working people of Michigan and I believe it is economically sound…

I commend my [Republican] partners in the legislature for finding common ground on a bill that will help Michigan workers and protect our state’s growing economy.

At present Michigan ranks 46th among the 50 states with an unemployment rate of nearly 9 percent. By preventing employers from employing those willing to work for less than the state’s new minimum wage, those willing workers won’t be employed. It’s the iron law of economics:

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New Jersey Governor Christie’s Lipstick Problem

English: , U.S. Attorney, Governor-elect of Ne...

(Photo credit: Wikipedia)

This article was first published by The McAlvany Intelligence Advisor on Friday, May 23, 2014:

Thanks to the current age of skepticism, aided and abetted by the internet, the “lipstick” strategy being used by Chris Christie is about to fail, revealing instead the economic pig that New Jersey has become during his administration.

Back in March 2012, Christie touted his budget that would only balance if a miracle occurred:

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Solution to LA’s Pension Shortfalls? Create Another Commission!

City Heights

City Heights (Photo credit: Christopher.F Photography)

Expectations that the Los Angeles 2020 Commission’s second report would address reality and set in place strong recommendations to rescue the foundering city were dashed with its publication on April 9.

In simple terms, the commission wimped out.

A year ago Los Angeles City Council President Herb Wesson asked former Clinton Secretary of Commerce Mickey Kantor to put together a group of experts familiar with Los Angeles’ problems and come up with some recommendations. In December its first report was alarming if not downright chilling:

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Connecticut’s Governor as King Canute

Seal of the Governor of Connecticut.

Seal of the Governor of Connecticut. (Photo credit: Wikipedia)

This article first appeared at the McAlvany Intelligence Advisor on Monday, March 31, 2014:

King Canute appears to have been reincarnated in the body of Connecticut Governor Dannel Malloy. On Thursday, the governor announced, with great fanfare, that by raising the state’s minimum wage to $10.10 an hour, he will be simultaneously raising people out of poverty, restoring business confidence, and bringing days of wine and roses back to the Nutmeg State:

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The Minimum Wage: Economists and Weather Forecasters

English: Murray Rothbard in the 90's

Murray Rothbard in the 90’s (Photo credit: Wikipedia)

This article first appeared at The McAlvany Intelligence Advisor on Friday, March 21, 2004:

Establishment economists defending interventionist statist policies like the minimum wage really ought to get out more. Weathermen, when they head home after work, are going to be confronted immediately with the reality of their forecasts and the consequences of being wrong. Economists are rarely if ever visited by the consequences of their predictions when they turn out badly.

One such is Jared Bernstein, who has spent his professional life locked up in a cubicle somewhere,

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Fed Transcripts from 2008 Reveal Experts to be Clueless and Confused

English: President Barack Obama confers with F...

President Barack Obama confers with Federal Reserve Chairman Ben Bernanke following their meeting at the White House. (Photo credit: Wikipedia)

Followers of the Fed have carefully analyzed the 1,865 pages of transcripts it released in February of its eight regularly scheduled meetings and six emergency meetings in 2008 and have concluded that these experts were clueless and unaware of the opening economic abyss yawning before them. Even the New York Times was forced to admit, following its review of the documents, that

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More Proof, if it were Needed, that Liberalism Excels at Only One Thing: Destruction

This article first appeared at The McAlvany Intelligence Advisor on Wednesday, January 22nd, 2014:

The chasm between dream and reality, between hope and substance, between promises made and the mathematics behind them, were never more starkly on display than back in 2007 when taxpayers in Highland Park – a three-square mile city located inside Detroit – approved a measure offered by the city council to borrow $27 million from local banks in order to make the city’s pension plan payments. Talk about robbing Peter to pay Paul, or, more accurately, making one credit card payment by using another credit card! So there’s plenty of guilt to go around as the city now

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The Shriver Report decries gender wage discrimination, ignores White House wage discrimination

When Maria Shriver’s latest book, “A Woman’s Nation Pushes Back from the Brink”, became available on Amazon on Saturday, January 11, it already had 25 “five star” ratings reflecting its basic theme: there continues to be a huge gender pay gap – 77 percent to be exact – between the sexes. Worthies ranging from liberal Princeton professor Anne-Marie Slaughter to NBA basketball star LeBron James to Beyoncé

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Time has run out for Scranton, Pennsylvania, says Moody’s

When Moody’s Investors Service said back in November that Scranton, Pennsylvania, had run out of options except for bankruptcy, Scrantonians began to think that was a pretty good idea. tax on local bars.

Economics 101 is kicking in, and Mert Gavin, the owner of Mert’s Piano Bar, complained:

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New Detroit Police Chief favors gun ownership, announces declines in crime

When Detroit’s new police chief, James Craig, took over on July 1st last year he made a strong declaration that crime was going to go down on his watch:

No longer will we stand idly by as criminals run rampant and the good citizens are held captive in their own homes.

Gone are the days that a citizen calls 911 and there is no response. Gone are the days that a citizen comes to a precinct only to find that the doors are locked.

We have taken an oath to protect our citizens and protect them is what we will do.

Six months later Craig reported that criminal homicides

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1.3 million Lose Federal Unemployment Benefits, Another 2 million to Follow

Because the budget deal signed into law last week didn’t extend federal unemployment benefits, some 1.3 million people won’t be getting their $1,166 monthly checks, starting in January. By June another 1.9 million will be cut off.

Keynesians are sputtering nonsense about the need to extend benefits. President Obama called it an

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Illinois pension reform is no permanent fix

When Illinois House Speaker Michael Madigan opened debate over his bill designed to solve the state’s $100 billion shortfall in funding four of its five public pension plans, he said:

There will be changes here, much-needed changes, but this bill is a well-thought-out bill, a well-balanced bill that deserves the support of this body, the state Senate, and the approval of Governor Quinn.

Something’s got to be done. We can’t go on dedicating so much of our resources to this one sector of pensions.

Madigan instead birthed a

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Walmart’s Two New Stores in Washington DC Embarrass a Preacher

This article first appeared at The McAlvany Intelligence Advisor on Monday, December 9th, 2013:

 

When the Rev. Graylan S. Hagler, pastor of the Plymouth Congregational United Church of Christ, saw the two new Walmart stores opening in DC this past week, he admitted that some of his people were going to shop there despite his protestations:

I know some of my congregants are going to be shopping there. I have not called for a boycott or anything like that.

But … when you make this corporation richer, it’s at the expense of making somebody [else] poorer.

Not according to the shoppers, hundreds of whom voluntarily

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Walmart opens first two stores in Washington, DC, after wage fight

When Washington, DC’s city council passed an ordinance raising the minimum wage just for Walmart’s employees, Walmart threatened to pull five stores planned for the DC area – three of which were already under construction – in response. But after Mayor Vincent Gray vetoed the measure and the council couldn’t override it, Walmart went ahead with two of them, both of which

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In death, as in life, the truth about Nelson Mandela is overlooked

With the widely anticipated passing of South African revolutionary leader Nelson Mandela late Thursday, December 5, presidents and dictators from around the world — as well as everyday people, and especially the press — are in mourning. Lost amid the tsunami of praise and adoration, almost canonization even according to some of his supporters, however, is the truth about the man himself, who was, after all,

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.