The Norman Transcript

Opinion

October 22, 2012

Down with demand economics

(Continued)

NORMAN —

Many people today have discovered one cannot spend themselves out of debt. Like bad habits, it is a lot easier to stay out of debt than it is to get out of debt. This is true for governments. Getting our government out of debt will be just as painful as it is for the individual to get out of debt.

New college graduates will find this out in the future as they begin to pay back what they borrowed to get that degree. So will our government when these potential future spenders don’t have the cash to spent nor the credit to further mortgage their futures.

Politicians are just hucksters. Hucksters play on creating envy in the buying public. Wanting to be like the rich, the average person gladly goes into debt. They do not realize that they are mortgaging their future to pay for indulging their present envy.

A subtitle result of the escalation of envy is how easy it is for politicians to float the idea of fairness. Fairness is the sibling of envy. One does not think of fairness unless they wish they had what a more fortunate person has. One does not think of fairness unless there is envy present.

Envy and fairness are the parents of class warfare. Much of the crime we read about is the result of the feelings of envy, the feelings of unfairness and simply another kind of class warfare. The religion of demand-side economies ultimately sets the stage for class warfare and the resulting economic dislocations.

JOHN BAUGHER

Norman

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