02/25/11 Baltimore, Maryland – We can’t allow the week to close without taking note of the spectacle in Wisconsin – seeing as it will hit all 50 state capitals tomorrow.
In case your eyes are about to glaze over, here’s a three-sentence update: The lower chamber of Wisconsin’s legislature passed Gov. Scott Walker’s emergency budget shortly after 1 AM today. It includes the provision that strips the government-employee unions of the collective-bargaining authority. Democratic senators remain camped outside the state, stalling the vote in that chamber.
In our overstuffed inbox this morning is a press release trumpeting “‘Save The American Dream’ Rallies to Take Place in All 50 State Capitals This Saturday” organized by MoveOn and similar groups.
Yes, because collective bargaining is the essence of the American Dream.
Oy. And you thought it couldn’t happen here?
“Participants will protest the attack on workers’ rights,” reads the press release, “and proposed dangerous budget cuts, and demand an investment in decent jobs.” Yes, because government checks and government “investment” in “decent jobs” is also the essence of the American Dream.
“Bring it on!” we say. If there ever were a worthy public discourse, this is it: Is the American Dream about self-determination and political freedom? Or… The “right” to a decent job, education, home, health care and retirement…and government debt…?
We suspect in the end it will all be a waste of time. Only one of these directions is within the government’s power to deliver, regardless of what your local representative says before you cast your ballot. But it will sure be fun to watch the carnage along the way, don’t you think?
More bread. More circuses. And down we go.
Addison Wiggin
for The Daily Reckoning
Addison Wiggin
Addison Wiggin is the executive publisher of Agora Financial, LLC, a fiercely independent economic forecasting and financial research firm. He’s the creator and editorial director of Agora Financial’s daily 5 Min. Forecast and editorial director of The Daily Reckoning. Wiggin is the founder of Agora Entertainment, executive producer and co-writer of I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival, the 2009 Critics Choice Award for Best Documentary Feature, and was also shortlisted for a 2009 Academy Award. He is the author of the companion book of the film I.O.U.S.A.and his second edition of The Demise of the Dollar… and Why it’s Even Better for Your Investments was just fully revised and updated. Wiggin is a three-time New York Times best-selling author whose work has been recognized by The New York Times Magazine, The Economist, Worth, The New York Times, The Washington Post as well as major network news programs. He also co-authored international bestsellers Financial Reckoning Day and Empire of Debt with Bill Bonner.
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looks like the swedish international snowballerZ, there! oy yoy yoy!
i’ve really enjoyed this whole state of affairs, in wisconsin.
when the gendarmes marched on the school and did that foot stompin thing, the stu’s held their cool pretty well, i thought.
many “private economy” labor unions have put themselves out of business. the teamsters and ironworkers are trying to hang, the electrical and other trades, likewise perhaps, or the guysngals can “sub out” often for cashola, for all i know. the auto workers should have been allowed to put themselves out of business.
and, the legal, contractual rights of the GM bond holdoers should have been upheld by the goobermint. Carl Ichan got a bad rash, that day!
the “public employees Unions” put US (The taxpayer) out of business. screw em.
The majority of taxpayers are not union represented and do not have the ability to raise their compensation above market rates. The unions will probably lose this fight. Higher taxes, price inflation and picketing instead of teaching children will not endear teachers to taxpayers.
Government unions and their partners in crime, “our” public officials don’t care about taxpayers. All they want is their “rights”. The only right we have, in their opinion, is to keep paying and shut-up when we are told to. They either don’t care, or don’t know we pay them. How many times have you heard the term “government money”. They may actually believe the gov has money that they don’t receive from taxpayers. Maybe they do. Who knows what the DEA does with all that confiscated drug money. Maybe they pay gov workers with it. I doubt it, but it would not surprise if these folks think that way.
We are the servants in the system and not the masters. The people we pay are the masters. Just don’t ever forget that and you won’t be driven crazy by all this madness. We can’t change it either. It will have to collapse on its own.