Oikonomia
Thursday, October 23rd, 2008Remember a few years ago when Bush the Younger told us that we need to do something about Social Security and meant it —especially for younger people? Well, the usual Democratic hacks screamed bloody murder and insisted that nothing is wrong with Social Security and that it doesn’t need fixing.
So the effort failed. A major underpinning of American working (and retiring) life was declared untouchable and we all forgot about it.
But now we are watching enormous banks, insurers, and mortgage underwriters fail as they have not since the early 1930s, if even then. Fannie Mae and Freddie Mac? Well, as nauseating liberal frauds like Barney Frank and Chris Dodd told us, those giants were too big to fail. That’s because they were the guarantors of greater home ownership amongst the various minority groups and the economic underclass. Thus, in the name of politics, the American Taxpayer was put on the hook for many hundreds of billions of dollars —and now he is hanging thereby.
You think you won’t see more destruction of other untouchable giants?
In the end, all a person can really count on is his home and some pittance to pay the basics. My castle cannot be breached. If some new form of government is imposed upon me and this society in the months and years to come next, I will fight for what I have, but I will not depend on seeing anything at the end of my wage-earning life close to what I put into the Social Security system. It is all haywire and broken promises from here on in. Waste not, want not. Worship frugality and integrity and honesty. And eat at home.