"By paying one month of salary in T-bills to public workers and pensioners, the government would save an estimated 1.1 billion in expenses, narrowing the budget gap significantly."
I will be interesting to see how this would be incorporated - my guess is the bill holders receiving a receipt for bonds kept in trust by the Govt. Is it possible for something to be worth less than nothing...?
Since the bond and the cash will shortly be worth the same thing, I think the answer to your question is, technically, 'no'...
#1
So instead of using money they don't have now, they are using money they won't have in the future. Skeptical me suspects there is an arithmetic fly in this financial ointment.
"We pretend to work and they pretend to pay us"
-- Ivan Ivanovich, fUSSR
"Since tax increases were out of the question after the unprecedented increases already in the budget, he [Protugal's Prime Minister] said, the only option was to cut back on other public services".
#5
Sure. One of these days I feel I'm going to read a story about workers being paid in bonds or IOUs, and will have taxes due on that income, and will only be allowed to pay the taxes with real money.
#7
Besoeker, that article on trade guns understated the impact of those weapons on the political reality of the west. I've read accounts that as a result of the trade in guns along the Mississippi and Missouri tributaries, the Comanche and other Plains nomads were significantly better armed than the Spanish colonies in New Mexico and Texas, and this was a big part of how New Mexico became a tributary of the Comanche in the late 18th century, and how the Tejans were driven out of the interior and into enclaves near the coast and along the lower Rio Grande. See The Comanche Empire.
Posted by: Mitch H. ||
04/08/2013 9:42 Comments ||
Top||
#8
Thanks for the link Mitch, but I'm so far behind in my reading. Guns and transport have so often made the difference. You might find the following of interest:
1900-1901 - The Government of the United States of America disgraced itself by violating the law and allowing British officers to establish recruiting camps for horses, mules and men on its sacred soil, thereby assisting the great monarchy of the British Empire to destroy two little republics in South Africa struggling so hard for their liberty and independence. One of these camps was in New Orleans, at Chalmette, a spot of ground sacred in the eyes and hearts of all true Americans. The governor of the state protested against this camp. The mayor of the city protested against this camp, and the people of America protested against this camp, yet it was allowed to remain.
John Y.F. Blake, A West Pointer with the Boers, Angel Guardian Press, Boston 1903, page. 216
[Blake was an American and the Commander of the Irish Brigade. He was a graduate of West Point and had served in the Indian Wars in the American west and was quite family with Indian tactics and indigenous struggles.]
#14
There's another factor in the job market that I don't think has gotten enough pub.
Our local school system is drastically cutting back next year on Kindergarten classes. Why? There aren't anywhere near enough 5 year olds in the pipeline.
My wife is a Kindergarten teacher and they may cut her position this summer. Right now, due to seniority, she's okay but they are cutting at least 3 of the 8 sessions in the 4 town grade schools.
Not only are they running out of money to pay public employees, they're running out of jobs for them to do in the schools. The reverse baby boom is starting to pinch.
#15
AC that is interesting. I'd bet this is happening in Europe as I know it is in Russia and China.
Lower incomes means putting of children. Perhaps not getting married then get government money. I know of people with one having a good job and the other is in welfare system. They are way ahead that way.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
