Saturday, February 01, 2014

Massive levels of long term unemployment are a feature not a bug of Social Democracy.

State long term jobless percentages have never, ever been higher for most states or the nation as a whole.  USA today story here.  States like blue dynamo New Jersey have more than half of their unemployed as long term unemployed.  So add that to the butcher's bill:

  • 96 million able bodied adults not working - almost one third of the human beings in country.
  • Welfare dependency at all time highs.
  • Labor force participation by men has never been lower in the nation's history.  Never. Ever.

Homogeneous northern European or Japanese nations can cope with all of this statist manipulation and rent seeking, albeit at a much lower levels of productivity than we have.  Australia, who among major countries is closest to us has mean household disposable income of  $36,000 vs. our $50,000 despite weathering the recession in much better shape.  Only Switzerland, at $44,000 even clears $40,000.  Even with very favorable demographics (older, northern european or east asian populations).  And none of them do any meaningful innovation at all, whether technological, economic or social they are dragged along (and defended) by us.  Pathetically parasitic.

But we want so desperately to be like them.  What is wrong with our entitled elites?  Is the power to manipulate your fellows and the approbation of foreign authoritarians so important that you'd sell your soul for this obscene mess of  pottage even as it collapses the world over?

But our lords squeal Gini! Gini! Gini! to try and divert us from the human catastrophe blooming in our midst.

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