Tag Archives: Socialism

Puerto Rico debt crisis will impact U.S. investors

Which financial companies hold Puerto Rica debt?
Which financial companies hold Puerto Rico debt?

Pay attention to this article from Investors Business Daily if you have investments.

It says:

With the financial world transfixed by Greece’s debt-driven meltdown, Puerto Rico announces it can’t pay its $73 billion in debt. Once again, we’re learning that welfare statism is no replacement for fiscal responsibility.

Compared to Greece’s $353 billion in debt, Puerto Rico’s $73 billion doesn’t sound so big. On a per capita basis, it’s about a third less.

But appearances deceive. Puerto Rico is in deep, owing actually much more than that amount.

We learned this after a report on Monday, co-authored by former International Monetary Fund No. 2 Anne Krueger, revealed the island’s finances are a shambles.

The devastating analysis noted that some 150 agencies ran up deficits that couldn’t even be accurately counted, so the true indebtedness might be even higher — as much as $100 billion by some estimates.

Now Republicans favor privatizing state-owned organizations because the private sector is more efficient. Democrats want to nationalize private sector services so that they can control access to it and use their monopoly to buy votes.

What does Puerto Rico do?

The government has funneled public money to state-owned enterprises that are supposed to be financially independent. Worse, the report said, many workers no longer even look for jobs, since welfare benefits pay more than actual work.

Now guess whether a Republican or a Democrat is to blame for this. Which party likes to borrow money from future generations in order to buy votes with spending right now?

In short, the government has been horrendously mismanaged.

[…]The problem is, Puerto Rico’s dysfunctional economy means the debts only piled higher, with no way to pay them. Deficits grew, too, since spending was never really cut.

Now, as a commonwealth, it can’t declare bankruptcy. It can default, however. That would be messy, creating a financial crisis in the territory, causing businesses to close and sending thousands fleeing to the U.S. mainland. Yet the Democrat-led government has said that, while it hopes to avoid default, it won’t cut either pensions or spending. So disaster looms.

Wow, just like Greece – they refused to cut pensions, raise retirement ages and cut spending, too. There is some good news – we probably won’t have to bail them out:

A bailout? Even President Obama rules that out. If the White House couldn’t bail out union-run Detroit, it sure couldn’t do it for Puerto Rico.

And, despite Padilla’s denials, politics is very much a part of the equation. Just like Greece and dozens of other financial basket cases, Puerto Rico has become a welfare state run by leftist bureaucrats and politicians that overspends on public pensions without having the money to pay for it all.

It’s a story repeated over and over around the world.

If Puerto Rico defaults, it won’t suffer alone, however. As the New York Times notes, “much of Puerto Rico’s debt is widely held by individual investors on the United States mainland, in mutual funds or other investment accounts, and they may not be aware of it.”

So better check your 401(k). Or your hedge fund. Because virtually all of that $73 billion is held by the U.S.

This is not to time for you to quit your job and go on vacations or focus on fun in any way. There is a world-wide financial crisis brewing. It’s nothing to panic over, but this is serious enough for us all to focus on our careers and savings, and cut our own spending. It’s not just Greece or Puerto Rico either, there are other warning signs from other countries, e.g. – China, Japan, etc.

Look:

Meanwhile, across the globe, we’re headed toward a reckoning on excessive debt, and it won’t be pretty. The welfare state model with big pensions for all and lavish unemployment benefits is dead. We’re watching its death throes now. Only the politicians don’t get it.

Even here, many states have severe debt problems with underfunded public sector obligations, as well as other problems. There’s just this problem with people wanting to depend on government. There are too many people wanting a free ride, and too few people willing to work and raise the next generation of workers.

Stay-at-home motherhood falls to record low in the UK

Stay-at-home mothers at a record low in the UK
Stay-at-home mothers at a record low in the UK

Dina sent me this article from the UK Daily Mail, and I want to comment on it.

It says:

The number of stay-at-home mothers has hit a record low as more women choose to get a job, new figures reveal.

In the last two decades, the number of women who do not work to look after their home and raise their family has dropped by a third to just over 2million.

[…]The number of stay at home mothers and grandmothers has fallen steadily since records began in 1993.

New official figures show that there are only 2.024 million women out of work to look after a home or family, a 31 per cent fall on 2.913 million in spring 1993.

[…]The sharp turnaround comes after 20 years of social and economic change, with parents increasingly sharing the burden of raising a family and many women reluctant to give up their career once they have children.

In socialist countries like the UK, the majority of the people are so accustomed to big government and dependency that they cannot conceive of shrinking government and letting the private sector and families and churches solve any problem. Right now, the current problem is that they are spending too much on huge numbers of social welfare programs that reward selfish, destructive behavior like men not working, single motherhood by choice, unskilled immigration, welfare that is not means-tested, welfare that is not time-limited, and so on. It is a nanny state, and during election times, all the candidates do is talk about how they want to spend the people’s money to be “nice”. So, you can get breast enlargements, sex-changes and in vitro fertilization (IVF) as part of the country’s bloated “health care” system. So the question is: how will they pay for all this “generosity”? Well, all the political parties agree on the answer: it’s to put in places taxes and policies that make it impossible for women to stay home with their kids instead of working.

More:

David Cameron has promised to double free childcare for three and four-year-olds from 15 hours per week during term time to 30 hours.

The Tories argue the measure will ‘help parents who want to work’.

But critics warn it is discriminating against people who do not want to go back to work.

Claire Paye, spokesman for Mothers At Home Matter, said: ‘The government has set arbitrary targets to get mothers into work and to make sure that they are using government funds to pay to look after those children instead of mothers doing it for free.

‘There is a real concern that the drop in stay at home others is because mothers are being priced out of the home.

‘The government’s only focus is to get mothers into work and they will not support any other family model than two parents working.

‘We are concerned that these figures represent families who are no longer able to choose to look after their own children even if they want to.’

In a House of Lords debate this week, the Bishop of Durham said stay at home parents were made to feel that they are ‘somehow not doing the best for the nation or the child’.

Rt Rev Paul Butler warned of the ‘implicit and not so implicit message that it is better to put your child in childcare and go out to work than stay at home and look after your own children’.

So, we have a couple of points in there. Stay-at-home mothers are shamed for “wasting” their education on raising children. Daycare, which is proven to affect children negatively, especially in the first two years, is set forward as praiseworthy. Tax increases force women out of the home to work, in order to maintain the same-standard of living they had before the higher taxes and big government. And those big social programs almost never go to help married couples – they are primarily there to enable a permanent lifestyle of disfunction.

I thought of a couple more problems. Easily obtainable divorce and sole custody for the mother is a major deterrent to men marrying in the UK. So, of course the marriage rate is in a free fall as men stop trying to get married and settle for stress-free jobs that allow them to scrape by as singles. Why work hard just to support a wife when the whole culture is telling her to divorce you and get alimony and child support for life? And you’ll never see your kids again, either. Easy divorce and easy premarital sex sounded like such a good idea to feminist ears, but they never thought about how men would respond to it. Most men just take the free sex that the feminist Sexual Revolution provides, and decline the responsibility of marriage and fatherhood.

Another problem is that Christian parents these days have a different view of the Christian life than I have. If you look at the shema in Deuteronomy 6:4-9, it’s very clear that parents have a responsibility to teach their kids about God. And that requires a plan to marry well so that the parents have time to teach their kids about God themselves (homeschooling), and put them into schools that will not push secularism on them.

Deut 6:4-7:

4 “Hear, O Israel! The Lord is our God, the Lord is one!

5 You shall love the Lord your God with all your heart and with all your soul and with all your might.

6 These words, which I am commanding you today, shall be on your heart.

7 You shall teach them diligently to your sons and shall talk of them when you sit in your house and when you walk by the way and when you lie down and when you rise up.

Eph 6:4:

4 Fathers, do not provoke your children to anger, but bring them up in the discipline and instruction of the Lord.

Heb 12:9-11:

9 Furthermore, we had earthly fathers to discipline us, and we respected them; shall we not much rather be subject to the Father of spirits, and live?

10 For they disciplined us for a short time as seemed best to them, but He disciplines us for our good, so that we may share His holiness.

11 All discipline for the moment seems not to be joyful, but sorrowful; yet to those who have been trained by it, afterwards it yields the peaceful fruit of righteousness.

As a man, I would of course be delegating a lot of this responsibility to my trusted chief of staff (i.e. – future wife), whose skill in parenting, especially apologetics, would be phenomenal. I would certainly not trust strangers to implement the specification in these Bible verses. If we had to bring in expert Christians – either through Sunday school, lectures, debates and conferences, or through books, DVDs, etc. then we would. But parenting the kids is our responsibility. Secular daycare and secular public schools will not be the main influence on my kids. And I oppose all policies and laws that make the state more influential than us in raising our kids.

Parents have a responsibility to make sure their kids will be Christians into adulthood, and will make a difference for Christ and his Kingdom. But what has happened is that Christianity has become all about me and my feelings. Parents themselves that they don’t have to know whether it’s true, in order to teach it to the children as truth. We think that it just has to make us feel comfortable and peaceful. But that is not the way to raise kids who will make a difference, much less remain Christian in a world like this.

Was Stalin an atheist? Is atheism or communism responsible for mass murders?

Disclaimer: small-government libertarian atheists, you are exempt from this post’s criticism.

Let’s take a look at what Josef Stalin did during his rule of Russia in the 1920s and 1930s.

The Library of Congress offers this in their “Soviet Archives exhibit”:

The Soviet Union was the first state to have as an ideological objective the elimination of religion. Toward that end, the Communist regime confiscated church property, ridiculed religion, harassed believers, and propagated atheism in the schools. Actions toward particular religions, however, were determined by State interests, and most organized religions were never outlawed.

The main target of the anti-religious campaign in the 1920s and 1930s was the Russian Orthodox Church, which had the largest number of faithful. Nearly all of its clergy, and many of its believers, were shot or sent to labor camps. Theological schools were closed, and church publications were prohibited. By 1939 only about 500 of over 50,000 churches remained open.

Let’s see more from a peer-reviewed journal article authored by Crispin Paine of the University College, London:

Atheist propaganda and the struggle against religion began immediately after the Bolsheviks seized power in 1917. While social change would, under Marxist theory, bring religion to disappear, Leninists argued that the Party should actively help to eradicate religion as a vital step in creating ‘New Soviet Man’. The energy with which the Party struggled against religion, though, varied considerably from time to time and from place to place, as did its hostility to particular faith groups. The 1920s saw the closure of innumerable churches and synagogues (and to a lesser extent mosques) and the active persecution of clergy and harassment of believers. From 1930, though, Stalin introduced a less aggressive approach, and wartime support for the government earned for the Russian Orthodox Church, at least, a level of toleration which lasted until Stalin’s death. Under Khrushchev antireligious efforts resumed, if spasmodically, and they lasted until the end of the Soviet Union.

An article from the pro-communism Marxist.com web site says this about Stalin:

During the ultra-left period of forcible collectivisation and the Five Year Plan in Four an attempt was made to liquidate the Church and its influence by government decree. Starting in 1929 churches were forcibly closed and priests arrested and exiled all over the Soviet Union. The celebrated Shrine of the Iberian Virgin in Moscow – esteemed by believers to be the “holiest” in all Russia was demolished – Stalin and his Government were not afraid of strengthening religious fanaticism by wounding the feelings of believers as Lenin and Trotsky had been! Religion, they believed, could be liquidated, like the kulak, by a stroke of the pen. The Society of Militant Atheists, under Stalin’s orders, issued on May 15th 1932, the “Five Year Plan of Atheism” – by May 1st 1937, such as the “Plan”, “not a single house of prayer shall remain in the territory of the USSR, and the very concept of God must be banished from the Soviet Union as a survival of the Middle Ages and an instrument for the oppression of the working masses.”!

Now, if all you read were atheist web sites, you’d think that Stalin loved religion and wasn’t opposed to Christianity at all. An atheist I know told me that Stalin was a Christian because that’s what he was as a child at one point. Funny sort of way to carry out your Christian faith, isn’t it? If you read atheist web sites, you’d expect Stalin to have had the career of a William Lane Craig or a J.P. Moreland. And yet in the fever swamp of atheist web sites, this is what they tell themselves. They believe it because they want to believe it. They have to believe it, in order to keep God at bay.

Now, if you were going to pick a hero of the Christian faith, you’d probably pick a real fundamentalist like William Wilberforce, who freed the slaves – because of his evangelical Christian convictions. Wilberforce took Christianity seriously – he believed every verse of the Bible, he tried to convert people to his faith, and he pushed his faith on others by passing laws. He was the worst nightmare of atheism – a politically active Evangelical Christian.

But who is a great atheist who was politically active? When I think of a great atheist, someone who really did the most to oppose the “lie” of God’s existence, I think of Josef Stalin. So what kind of morality can we expect from someone who takes the message of Richard Dawkins and Dan Barker seriously and has the political power to really do something about it?

The Ukraine Famine

Take a look at this UK Daily Mail article about a great achievement of the atheist Josef Stalin, which occurred in 1932-1933.

Excerpt:

Now, 75 years after one of the great forgotten crimes of modern times, Stalin’s man-made famine of 1932/3, the former Soviet republic of Ukraine is asking the world to classify it as a genocide.

The Ukrainians call it the Holodomor – the Hunger.

Millions starved as Soviet troops and secret policemen raided their villages, stole the harvest and all the food in villagers’ homes.

They dropped dead in the streets, lay dying and rotting in their houses, and some women became so desperate for food that they ate their own children.

If they managed to fend off starvation, they were deported and shot in their hundreds of thousands.

So terrible was the famine that Igor Yukhnovsky, director of the Institute of National Memory, the Ukrainian institution researching the Holodomor, believes as many as nine million may have died.

[…]Between four and five million died in Ukraine, a million died in Kazakhstan and another million in the north Caucasus and the Volga.

By 1933, 5.7 million households – somewhere between ten million and 15 million people – had vanished. They had been deported, shot or died of starvation.

This is what follows when you believe that the universe is an accident, that there is no objective good and evil, that human beings are just animals, that no God will hold us accountable, and that human beings are not made in the image of God for the purpose of freely choosing to come into a relationship with him. The Ukrainian famine is an action that came from a man whose worldview was passionate atheism.

Atheism today

You might think that today’s atheists are much different than Josef Stalin, but understand that according to a recent survey of atheists conducted by atheists, 97% of atheists are pro-abortion. How many people have been killed by abortion? 56 million in the United States alone. Atheists in a society like ours, founded on Judeo-Christian values, are obviously going to live a lot better than Stalin. For one thing, they don’t have the power that Stalin had to eradicate theism, although you can see Stalinism in the anti-Christian activities of groups like the Freedom From Religion Foundation. But take away the Judeo-Christian foundations of this society, and what would you see atheists doing?

Remember the words of Richard Dawkins:

The total amount of suffering per year in the natural world is beyond all decent contemplation. During the minute that it takes me to compose this sentence, thousands of animals are being eaten alive, many others are running for their lives, whimpering with fear, others are slowly being devoured from within by rasping parasites, thousands of all kinds are dying of starvation, thirst, and disease. It must be so. If there ever is a time of plenty, this very fact will automatically lead to an increase in the population until the natural state of starvation and misery is restored. In a universe of electrons and selfish genes, blind physical forces and genetic replication, some people are going to get hurt, other people are going to get lucky, and you won’t find any rhyme or reason in it, nor any justice. The universe that we observe has precisely the properties we should expect if there is, at bottom, no design, no purpose, no evil, no good, nothing but pitiless indifference.

(“God’s Utility Function,” Scientific American, November, 1995, p. 85)

Now, having said that, I readily admit that many atheists adopt Judeo-Christian values if their society is saturated with them, but they are acting better than their worldview requires. They are acting inconsistently with what atheism really teaches. It’s good for us that they do, but for how long?