New Board

For refugees from MyWay and Tek Board II, and for anyone else wishing to participate.


    Don't worry, she's brilliant! Brilliant I tells ya!!

    Share
    avatar
    sinister_midget
    Admin

    Posts : 3534
    Join date : 2016-08-26
    Age : 65
    Location : Home

    Don't worry, she's brilliant! Brilliant I tells ya!!

    Post  sinister_midget on Fri Nov 16, 2018 10:14 am

    Ocasio-Cortez's rise reveals rampant economic illiteracy in US

    Rep.-elect Alexandria Ocasio-Cortez (D-N.Y.), made headlines when she revealed that she wouldn’t be able to afford Washington, D.C. rent until her government salary kicks in.

    The lack of affordable housing in Washington is no joke, but the predicament also speaks to the young lawmaker’s financial literacy — or lack thereof. The 29-year-old didn’t think to consider something as basic as the relocation expenses of a new job opportunity.

    If she doesn’t know how much an apartment costs, how much confidence should taxpayers have in her ability to effectively deliver trillions of dollars in campaign promises?  

    Ocasio-Cortez has proposed free "Medicare for All," free college tuition, guaranteed federal employment at $15 an hour and free houses for the nation’s poorest. These ideas have been conservatively priced at $40 trillion — twice as much money currently listed on the national debt.

    It’s the kind of extremist proposal you’d expect to hear from someone who has never made a budget, never been responsible for a business and payroll and never had taxes deducted from a hard-earned paycheck. It's the kind of proposal you've heard from Venezuela President Nicolas Maduro and Hugo Chavez before him. 

    While an undergraduate student at Boston University, Ocasio-Cortez’s coursework in economics apparently didn’t make much of an impression about the power of market enterprise.

    The problem with her myriad of “free” giveaways is it’s unbelievably naïve and empirically falsifiable to think the federal government is more cost-efficient than the free market. The first rule of economic thinking is that "there's no such thing as a free lunch." Choices have costs.

    Economics helps us understand that it is entrepreneurs, inventors and new ideas propelled by ordinary people that power an economy. She should have learned that at BU.

    If you want to see young, successful people who are making a real difference, look at someone who started his or her own business, got his or her foot in the door at a prestigious company or worked for what they achieved.

    Most people don’t want to be stuck in a $15-an-hour, guaranteed government job because it stunts their long-term opportunities. The private sector incentivizes hard work and lessons learned, and it pays better than any government position. 

    Unfortunately, the world view espoused by Ocasio-Cortez and Sen. Bernie Sanders (I-Vt.) paints the economy as a zero-sum equation unless the government directs the choices. Their proposals call for showering benefits on certain groups and paying for it by taking money from the wealthy. If millionaires and corporations are losing, then surely welfare recipients will be winning, their logic holds. 

    That’s not how the global economy works. The free market is the world's largest and most successful poverty alleviation program. Market investment and entrepreneurship far outperform government investment, and the resulting surges in economic activity benefits everyone, particularly the poorest.

    There’s also an inadvertently tragic ramification of today’s trendy Democratic Socialist ideas. If you actually added $40 trillion to the U.S. national debt, as Ocasio-Cortez has proposed, it would be younger people and future generations that have to bear the astronomical tax burden when the bills come due.   

    The proliferation of these ill-conceived economic ideas over the past few years speaks to the lack of economic literacy in our education system.

    Graduates of Boston University’s economics program are supposed to be able to “understand economic theory … and be able to apply these models to evaluate policies and real­-world events,” according to the school’s website. 

    Ocasio-Cortez would do well to understand that the path to prosperity is not built on government handouts but on free people unleashing their human creativity to advance the common good. An honest to goodness economics debate between Ocasio-Cortez and her opponent could have been a sorely-needed corrective lesson. By exposing the flimsy arguments of central planners like Ocasio-Cortez, it may have helped young people understand economics better than any college course ever could.

    You could forgive her senselessness if she was 19. But she's 29. She's had ample opportunity to learn something by now, yet has missed every lesson life has offered.

    My wife was constantly frustrated with my nearly 20-year-old son because he lacks the capacity to prioritize various things. (Except money - I think he's finally grasped the need to not fritter it away and then find himself in a bind down the road.) Then she stumbled across something that led her looking in a different direction. Now she concludes that it's normal (I agree) for a young person to be unable to make certain decisions, set certain goals, keep up with certain targets and various other things. She found that prior to 25 it's very common (partially agree) for a young person to not be mentally/psychologically equipped to make order of some things. (Personally I think 25 is probably an average, that some will do it earlier, some later, and it depends on the area of management - like I say, my son has figured out money even if he can't make a dentist appointment until the last minute.)

    Cortez is 29. She doesn't understand economics, though she is as sure of her economic prowess as an 18-year-old. Those two things combined convince me she's going to probably be none too bright all of her life, though she might get a little bit wiser as time goes on. She's the perfect kind of person to lead the next Venezuela from one of the largest economies in the world to near dead last, to take a nation from the wealth of producing an abundant resource (oil) to people staving and zero production.

    I don't want the US to be the next Venezuela. Too many Democrats, and the youth they've misinformed and brainwashed, think people like her are perfect to lead us down the road to universal prosperity. They can't even see the disconnect that somebody like her can't even handle their own finances well enough, they still think brains like hers are the future.


    _________________
    What I want our adversary to know is please work with our State Department. You really don’t want to work with me. That’s our message.
    -- James Mattis

      Current date/time is Thu Dec 13, 2018 5:48 pm