City Journal Spring 2014

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Spring 2014
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Nicole Gelinas
Gotham’s Capital Chance « Back to Story

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Eventually, currency script is going to become worthless.And Ezekiel 9: 7 - 19 will follow. Scripture is timeless because we repeat the same mistakes through the eons and the ages. Sin, at any time, begets inevitable judgement. The example of past punishments are meant to warn us of the consequences of repeating past mistakes. We are told what not to do, and we are given history's exsamples of the price to be paid. To coin a phrase: What fools we mortals be !!!
President Obama and the Congress, both parties to be exact, have followed Franklin Delano Roosevelt into a deep chasm where all will be lost unless “Private Sector” jobs are created.

These jobs will in turn create two-three new jobs and increase by more than 50% the amount of new taxes paid to the government. This was demonstrated by President Ronald Reagan following the collapse of the dollar under President Carter when interest rates climbed to near 20% and unemployment rose to over 10%.

If we don’t incentivize the private sector in the next three-six months we will start looking like Cuba or Venezuela; the result would be 15-20% unemployment and 25% underemployment.

That being the case all of our hard earned money will leave the United States and flow into Japan and China; perhaps even to the European Union which has may be starting to turn itself around.

P.S.: We could lose more than 100,000 additional jobs in the Financial and Banking Sectors under S. 3217, Financial Reform. This is the biggest “Tax Bill” every created. I can’t wait for the new “Cap and Trade” to be produced right after the “tax and run Democrats” take it on the chin on Election Day. That will totally wipe out the private sector.

"Liberty Fraternity Equality"
This is crazy. Didn't we just go through this? Does the author really advocate cutting state budgets, laying off workers, and abandoning pension promises to state workers in order to PRESERVE quality of life? What about the quality of life for those people? And we should do this to ensure that hedge fund managers only have to pay 10% taxes on their multi million dollar annual salaries? Doesn't the author realize that financial management depends on the economy and the economy doesn't work unless people work?