Are Federal Employees Compensating for Something?

The US Bureau of Economic Analysis, an “official” source of news, reported what everybody has already known: Government worker compensation in now an average of more than $120,000, or about twice as much as the average private sector worker making less than $60,000.

I find this particularly interesting because I get a chance to answer some of my critics, who say to me, “Bah! Even though you are absolutely right about the foul Federal Reserve and how their continually creating more and more money is going to ignite an inflation in prices that will destroy us, and you are entirely correct that buying gold, silver and oil are terrific bargains right now because of it, and you are completely spot-on that Obama and Congress are repugnant socialist morons, but you are not as handsome as you think you are, and a lot more stupid, too. And lazy. For instance, you never do any real work.”

So, I now shut these complaining, nasty people up by doing a little “investigative research,” in this case to expose more obvious, odious, lying Democrat partisan-bias in, a popular feature that purports to be “sorting out the truth in politics.” They even have a little Truth-O-Meter to show how truthful something was! Oooh!

The story is that last February, which was six months ago, I was looking through the newspaper and was stunned to read where a staff writer named Catharine Richert took issue with US Senator Scott Brown saying that “Federal employees are making twice as much as their private counterparts.”

She looked and found that, sure enough, federal employees made an average wage of $79,197, versus $50,028 for private-sector workers. Then, by completely ignoring the overly-generous benefit packages that government employees enjoy, and thus take the total compensation disparity over 100%, as per Sen. Brown’s claim, she instead rates the claim “false” because government wages, alone, are not twice as high as private wages!

Not “partially true.” Not “slightly true.” False!

The little Truth-O-Meter icon had the red arrow pegged to the left, and “FALSE” written in big, big letters to make sure you got the point.

So much for, as far as I am concerned.

Too bad neither she nor the other Politic-Fact morons rated the veracity of The Mogambo saying, “The neo-Keynesian econometric idiocy of the Federal Reserve that has defined American expansionist monetary policy for the last half-century is a Big, Stinking Load Of Crap (BSLOC), the Democratic Party’s stupid idea that government is supposed to spend its time constantly expanding entitlements and ‘helping people’ by spending more and more money on them and literally giving them money, goods and services is another Big, Stinking Load Of Crap (BSLOC), and the only thing that is NOT a Big, Stinking Load Of Crap (BSLOC) around here, as far as I can tell, is the terrific advice of The Fabulous Mogambo (TFB) to buy gold, silver and oil to protect yourself and prosper as a result of these two idiocies, which makes it all so easy that you involuntarily smile and say to yourself, ‘Whee! This investing stuff is easy!’”

And, if she, or they, had really, really looked at the last 4,500 years of history and how gold has gone up 500% in the last ten years while the stock markets haven’t gained a dime, their precious little Truth-O-Meter would have pegged out as “Completely True.”

And easy, too! Whee!

The Mogambo Guru
for The Daily Reckoning

The Daily Reckoning