Economics of Envy: The Reality

About that Shrinking Middle Class...



“When the rich get richer, the poor get richer as well.”

–Peter Lynch

Red Planet Cartoon's latest offering, "About that Shrinking Middle Class..." has a great presentation on where the American middle class is headed: UP. Facts and figures that may surprise a few people--especially those predicting gloom and doom for the American middle class.

Of course, the class envy warriors (The Democrats and John McCain, notably, among Republicans) would have you believe that the only shrinkage is because everyone is headed down the ladder of economic ladder of opportunity.

It was once suggested that anyone who is interested in running for political office in America be required to take a basic Economics class. We doubt that would solve the problem of class envy demogouges.

However, the class envy warriors would be less effective if there was a requirement that everyone who wanted to vote was required to take a basic economics course.

If you don't have the time for the Econ 101 class, wander over to Red Planet and you'll fill your requirement for today.

by Mondoreb
image: Red Planet Cartoons
Source: Red Planet Cartoons



Death by 1000 Papercuts Front Page.

Bob Herbert: Economic Knowledge? What Economic Knowledge?

Bob Herbert says, "If it looks like a recession and feels like a recession ..."

To which anyone outside the cozy idealogical confines of the New York Times might be forced to take him by his shoulders and gently shake the man from his dreamy trance-like state. Herbert, is positively Cayce-esque in his ability to pull back the curtains of financial uncertainty, all while sitting in his office.

Nothing will reduce a thinking man to uncontrollable laughter faster than a journalist spouting economics. Thus, Herbert's "Recession? What Recesssion?" is a masterpiece of the genre.

“We have an economy that is based on increased debt,” said Mr. Hinchey. “The national debt is now slightly above $9 trillion, and ordinary working people are finding that they have to borrow more and more to maintain their standard of living."

“The average now is that people are spending close to 10 percent more than they earn every month. Obviously, that can’t be sustained.”

And the grand finale.

The chickens of our denial are coming home to roost with a vengeance. Meanwhile, the elites are scouring the landscape for signs of a recession.

Using such well-known economic terms as "gross domestic product" and "Consumer Price Index", Herbert continues his financial doomsday show, and one imagines the entire New York Times newsroom waving their lighters in the air at the finish.

"Look everybody! Bobby's gonna do his economics thing! Gather round!"

Herbert is as accurate a seer on the economy as he is on the war in Iraq and most other issues. When "Bush?" is the question, Bob's favorite answering mood is despair.

Who knows? Herbert's bound to get one right some day. This one could be it. If he is right, the New York Times will most likely have a party.

Then, maybe Bob Herbert can do his "Economic Wizard" routine again.

by Mondoreb




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Red Planet Cartoons:Tax Cuts For Dummies

For the those who flunked Econ 101 (apparently most of the Democrats on the tax-writing committees in Congress) and those who want an informative look at tax cuts and how they spur economic growth, Red Planet Cartoons has an extremely instructive and completely painless lesson. The above cartoon is only the overview.

Go check it out. Don't be a tax cut dummy.




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