It’s Interdependence Not Independence: The New World Economic Paradigm

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It’s Interdependence Not Independence: The New World Economic Paradigm

 

By Michael Boyajian

 

David Marsh in a recent New York Times Op-Ed piece suggested that the problem with the German led bailout of Greece was that the United States was involved to the extent that the President was urging things to move forward to protect world markets.  Marsh felt that this defeated the purpose of the European Union which was for Europe to become independent of the U.S.

As I Predicted The UFT Is Insatiable

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Not content with gutting the schools to pay for teachers with seniority to retire at age 55 instead of 62 without contributing an extra dime under a 2008 deal, the UFT now demands that teachers be allowed to retire earlier. Age 50? Age 45? Needless to say, the UFT doesn't specify the age. They claim yet another early retirement "incentive" will save the city money. Previously, they had claimed that allowing teachers to retire seven years earlier under the 2008 deal, and providing retirement health care ten years before Medicare picked up some of the cost rather than three, would cost nothing. It was, and is, a lie.

There is No Guarantee

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The State Assembly is holding out for borrowing lots of money to cover over problems until after they are all re-elected. Just like in prior fiscal crises, with money that is never paid back. (In between fiscal crises, they borrow money to provide a sweet deal for their campaign contributors and those cashing in and moving out). They are holding out for something like the Ravitch Plan, under which the bonds themselves will contractually obligate future New Yorkers to pay ever higher taxes despite not receiving public services and benefits in order to pay back the debts, without borrowing more. People would be forced to pay taxes, and the bondholders would get the money first, with schools, health care, parks, roads, transit, police etc. paid for if any money was left. Actually bonds would be paid second, after pensions.

I’ve got news for them. The State Constitution says the tax revenues of the state can never be contracted away. And younger generations are under no obligations to pay. None. Even if they were under a legal obligation to pay, they are not under a moral obligation to pay. It’s time to stop talking about running up additional debts, and start talking about who has what obligation to pay the debts we already have. Start with the retired, who are currently exempted from state income taxes.

Huge week for “Governor in waiting” is coming up.

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In the suburban battleground area of nearby Westchester County- The race for governor is about to officially begin.

As State Democrats meet, they can forget Governor Paterson’s poll numbers, and start the coronation towards the future. It’s Andrew Cuomo moment in the sun.

It was be interesting to see how Cuomo is nominated and how he accepts his party’s backing?

What role does his father (Democratic icon and three term N.Y. Governor Mario Cuomo) play at the convention, if any?

Government Labor — The Ongoing Farce

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If there is one thing the public employee unions and newspapers such as the News and Post seem to agree on, it's that the quality of public services doesn't matter and future generations should be worse off. Since the former vigorously defends those workers who do not do their jobs and those with seniority, the latter always seeks to go after future public employees and those who do the most work.

Gatemouth Gets a Scoop (Some quibles now added at the end)

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No posts for a month, and insider oriented gossip sheets still invite Gatey to their parties, insider oriented podcasts still ask Gatey to be their guest and insider oriented columns still run the stories Gatey plants. Publishers even send Gatey review copies.

Life was good.

It was becoming clear that the things people loved most about Gatemouth was not having to read him.

Meanwhile, unfinished pieces concerning Israel, Iran, nuclear arms, Republican insanity, and the continued multi-party abdication from reality by our entire state government continue to pile up on Gatey’s G drive like planes over LGA.

It Isn’t What They Are Doing That is Scary

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It is why they may be doing it. That’s my take on the recent controversy in Arizona. Recall that in the early 1990s recession, when the U.S. and its states faced a fiscal crisis and the economy was down, the blame was cast on the poor, Blacks, Latinos, Immigrants, and those living in older central cities, their problems and burdens. The "Republican Revolution" consisted in cuts in funding for services for such people — and massive funding increases on everything else combined with tax cuts. Well with crime and the welfare rolls down, I thought that wouldn't be so easy to blame the same people this time around. But if you are desperate to find a scapegoat, anything is possible.