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Archive for August, 2012

Government Involvement, Government Failure

Posted by revkharma on August 6, 2012

Interesting, the headlines on this morning’s paper.
The local, Island Packet has three major stories today.
Top story:
 Bluffton’s Wharf Street homes still empty.
next,
 New plan would help preserve Gullah heritage”
next
Are we getting what we paid for?

First story is about the town housing, paid in full by the Town of Bluffton. Six houses, all built and paid by town money, to be purchased as “affordable housing’. The town made a big deal about how this would help teachers and cops able to afford to buy a house. They have been completed for a year, and not one has been sold. The complex maze of government required paperwork is blamed. Also, and not mentioned, as these are funded by various government grants, there are restrictions attached. should you complete the many forms required by state and fed govt, you are required to keep the house. Should you decide to resell, the town will have veto power, and may require repayment of all ‘mortgage subsidies’
Also, there has yet to be announced a final sale price, as no one in the area is willing to appraise the homes due to the complex nature of the purchase, funding and deed restrictions.
(most of this is NOT in the story, but bits and pieces have appeared over the last several years)
Second story is praising the federal funding of a ‘Gullah Geechie heritage corridor” to help area residents sustain their African roots. Tax money for a group which wishes to emphasize special contributions of a particular racial group and it’s contributions to culture and history.
Well, if this was a strong, vibrant group, would they not have their own ability to celebrate and sustain their culture?
the Italians, the Irish, and other ‘culture and heritage groups’ all manage to privately and successfully ‘celebrate their culture’ without recourse to multi-million dollar federal grants and state funded road signs.
Finally
After decades of deceit, the Social Security Administration has revealed that current recipients will now be paid less in benefits than they had paid in.  By contrast,

” someone who began to receive benefits  in  1960 could expect, if they lived to age expectancy, to collect roughly seven times more than they paid into the system.”

Now the payout will be a fraction of the amount paid in.
This is not a ‘government sponsored retirement system’. This is clearly the collapse of the government sponsored Ponzi scheme.[An interesting side note here. The original story I read is on the front page of the print edition of the Island Packet today, (8/6). However it is to be found nowhere on the paper’s web page. I had to link directly to the AP copy. Wonder why that is?]
What all these have in common is the clear proof that when government gets involved, the market is distorted, and the result is financial collapse and regulatory restriction to work against the stated goals of any project.  In all three cases, had private effort attempted the same projects, there are ample demonstrations of success to contrast with these demonstrations of government sponsored–no– government fostered— failure.

Keep the Faith

The Rev.

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