Recently there have been a spate of “studies,” press releases and articles from government apologists (especially CalPERS) about how we all prosper from (primarily government) pension fund investing and pensioners’ spending. Here’s my response:
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Actually, if the Crips and the Bloods had good PR departments, they could put out similar and equally accurate “analysis” and press releases:
The titles could read something like this:
“Crips’ Thefts Stimulate Economy.”
“Bloods’ Blood Money Energizes Commerce”
A thief who steals someone else’s money and spends (or, indeed, invests) the funds is doing just as much for the economy as the taxes confiscated (under threat of force) for the benefit of our public employee aristocracy.
It’s just another example of the “Broken Window Fallacy,” the ludicrous but too common premise that breaking windows increases prosperity.
http://en.wikipedia.org/wiki/Broken_window_fallacy
In this case, the assumption is that if I take your money and spend it, that’s much more energizing for the economy than if you get to keep your earnings and spend (or invest) them yourself.
No, I’m NOT suggesting that the pensioner cabal is the same as street gangs. After all, the pensioners acquire their booty legally. But the ECONOMIC EFFECT is the same.
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P.S. After I posted this elsewhere, a liberal played the race card. He wanted me to use different gang names. He informed me that it’s okay to use the “Sharks and the Jets.” Denigrating Puerto Ricans is okay, apparently. Good to know.
Kindly alter my previous Crips & Bloods article to include Jets, Sharks, the I.R.A., Cosa Nostra, Russkaya Mafiya, Los Zetas, the Tongs, the Yakuza and the Smerfs.
My abject apologies to any omitted gangs. Don’t hurt me.