The road to freedom is paved with repudiation.
Tuesday The Burning Platform website posted an article, “Your Government In Action,” that had a Twitter video of a long line of cars in Albuquerque, the people in them waiting for coronavirus tests. I posted the following comment:
I live in Albuquerque and was not one of the idiots in line. Yesterday was a beautiful day and I rode my mountain bike for 40 minutes in the sun. It was just right, not too cold, not too hot. We have an arroyo near our house and I did some dirt biking on the loose sand, great exercise for the legs. My gym sent an email last night and it’s closing for an indefinite time. Looks like mountain biking will be the exercise for awhile. but I could tell that the fresh air and sunlight were doing me more good than time spent in my hyper-sanitized gym or cooped up in the house. I felt great. The schools have been closed and I found it disturbing that I didn’t see one kid outside playing. Sunshine and fresh air are known disinfectants, but parents are keeping their kids indoors and the world is locking up people in quarantines. No sunshine, no fresh air, only insanity.
Read a Wall Street Journal article this morning about the younger generation in Europe rebelling against the insanity, going to bars and restaurants and having dinner parties. Why not, they aren’t getting coronavirus, and when they do it amounts to a cold or minor flu. My son is 22 and has the same attitude. What all the grim statistics no longer categorize is the age of the people dying. The media still begrudgingly admit that it most severely afflicts those with compromised immune systems, i.e. primarily older people. Our gerentocracy is panicking because they’re the most at risk. One among many issues most boomers refuse to face is their own mortality. I’ve told my son several times that if his generation sits still and pays the taxes and debt service that’s going to be required to fund our generation’s “entitlements” without repudiating the debt, slashing the entitlements, and perhaps out and out revolution, his generation will deserve its fate and its shame. Boomer removal indeed. Party on kids, maybe the coronavirus will lighten the load my generation has foisted on you.
Yojimbo, a Burning Platform commentator, posted the following:
Maybe since you are against Socialism, write a simple, concise argument in an essay about why repudiation of the debt is a far better answer than the Socialism that Bernie is advocating.
Perhaps if it were short, simple, and cogent, it might circulate among the young and truly inform them and turn them away from Socialism?
Just a thought.
I replied:
That’s a good idea. I’ll see what I can do.
Here’s the article. It’s short, by my standards; I hope readers find it “simple, and cogent.”
The Young Have Nothing To Lose But Their Chains
According to usdebtclock.org, the on-the-books’ debt of the US government is almost $23.5 trillion, or over $72,000 per citizen. The four biggest items in the government’s budget are Medicare/Medicaid, Social Security, defense, and interest on the debt. The government’s unfunded liabilities are over $128 trillion, or over $397,000 per citizen. Now it is true that national assets stand at $151 trillion, or over $468,000 per citizen. Unfortunately, many of those assets are debt, equity or contractual claims (like insurance and pensions) on insolvent governments or businesses, or real estate, often subject to a mortgage. The problem is that all these assets are valued at current market, which can shift dramatically in a very short time—as we’re now seeing—while the nominal value of the debt doesn’t go down, it just continues to grow, and with the coronavirus outbreak its growth rate will increase.
Taking a cue from their parents and grandparents, the younger generation wants to grant itself new entitlements—higher education, medical care, guaranteed incomes, etc. They’ve flocked to Bernie Sanders, the most prolific promiser of free stuff. The older generation owns most of the assets and because they’re retiring, whatever they “contribute” towards taxes and debt services will be far outweighed by what they’ll draw in Social Security, Medicare, and Medicaid. Consequently, for whatever it grants itself, the younger generation will be either be paying taxes or adding to its already staggering debt and unfunded liability burdens. It will be shooting itself in the foot.
There is another way that will do much more for them. Instead of voting for supposedly “free” stuff for which they’ll wind up paying, the younger generation would be far better served by repudiating the older generation’s debt and unfunded liabilities. By refusing to be debt slaves to pay for their elders’ entitlement promises to themselves, and for the forever wars they’ve waged since World War II (which the younger generation is now expected to fight), the younger generation could opt for a clean slate. There is already an undercurrent from the fringes promoting debt jubilees and the like.
For the young to be truly better off after a debt repudiation and to solidify its moral basis, they would have to swear off entitlements for themselves, to be paid for by their children and grandchildren. However, that seems like a fair trade—no entitlements, but no crushing debt service and tax loads either, and undoubtedly a far healthier economy than what now lies in prospect. In other words, more freedom, much more so than if their elders’ schemes run according to plan.
The growing debt load is not sustainable; repudiation is going to happen one way or the other. If the older generation wants to make its oft-expressed bromides about the “children,” “grandchildren,” and “future generations” anything more than self-serving pieties, it will support repudiation in a way that benefits their posterity. If they oppose it, they should at least quit lecturing the young about Sanders and “no free lunches.” They’ve been giving themselves free lunches for decades.
As for that posterity, instead of voting for an old guy who’s only going to enslave them more, the younger generations should coalesce around candidates who promote debt repudiation, rescind or eliminate taxes, and freedom. Unite and repudiate, you have nothing to gain from the bankrupt and corrupt status quo and nothing to lose but your chains.
STRAIGHT LINE LOGIC 
Make sure you update us when you, your wife, or an older friend or relative gets infected after your teflon coated son brings it home on a silver (cough) platter. Jeezus – how about focusing on some science here?
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Science. Okay. The corona virus lies dormant in almost every person that has been exposed to it, probably a large portion of humanity by now. However, until your blood serum measurement of vitamin D drops below certain levels, your immune system will not be able to handle the onslaught and symptoms will appear. Cell metabolism will be hi-jacked by the virus and you will become ill.
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Yes, there appears to be good science behind taking supplemental Vitamin D. It may well be a silver bullet. I’ve been taking a high quality formulation for a long time. My point is that everyone is a potential carrier. It’s beyond debate how easily this virus can be transmitted, whether or not the carrier has symptoms. It’s irresponsible to take the position that a low risk individual can behave as if there is no potential impact on other (high risk) individuals.
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I simply cannot understand this fascination with convenience such as a pill or a vaccine. As a recent retiree from an enormous pharmaceutical company, I was a pariah for even suggesting nutrition based health. By hey, there’s no money in that. Get into the sunshine to get your vitamin D.
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Time for math. Italy is exploding. Look at today’s numbers. Figure the USA is only 2-3 weeks behind with similar metrics. Anybody that thinks otherwise is smoking crack or relying on The Burning Platform for data. So many conspiracy theories, so many small minds. Mark this post, check back in 3 weeks. I hope I’m wrong.
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“Unite and repudiate”
This will be a nice start but how long will the “youth” be able to resist the siren call of “other people’s money” and, having short memories, just start the intergenerational rape cycle all over again.
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your an idiot .. social security isnt a entitlement.. it was payed for by the thousands of workers . the congress stole all the money to be set aside for paying out this benifit. if you want to tell a story then at least tell it right and stop lying
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How is Social Security not an entitlement? Beneficiaries are paid out of current taxes, not what they contributed, notwithstanding the fictitious language that calls Social Security a trust fund. The money that goes into Social Security immediately goes out. Congress steals all the money it gets. How can you say benefits are entitlements because they are paid out of pay-as-you-go income taxes or borrowed money, but other benefits are not because they are paid out of pay-as-you-go Social Security taxes? Legally, Social Security benefits are indistinguishable from all the other “entitlements” our government bestows. The Supreme Court has ruled that they are completely within the arbitrary dictates of Congress, which can increase, decrease, or eliminate them, just as it can any other entitlement. I agree with you completely that those who pay into Social Security deserve every penny they put in–in fact far more because they deserve some sort of return on their money–but I don’t think anyone should have ever been forced to pay anything at all. The program is yet another example of government theft, the same as the income tax. Social Security beneficiaries like to think they earned what they receive, but how can you earn anything on money that is immediately paid out, never invested, and so never earns a return? All you “earn” from your Social Security contribution is the hope that Congress will grace you with some sort of benefit paid out of future Social Security taxes, and now that the so-called Trust Fund is running at a deficit, out of future income taxes or borrowed money. I understand why people think they’ve earned their Social Security benefits, because the government certainly encourages them to think they have, but the reality is they haven’t.
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Let’s make a deal! I’ll forego social security and never lay claim to any “entitlements” if the g-man gives me back everything I ever paid in on my stubs. I will not even ask for interest.
Crickets.
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I’d take your deal in a heartbeat. So would everybody else who has worked an honest job and had social security, income, sales, property, and all the other taxes levied by governments stolen from them. The government never “helps” those who provide for themselves through honest labor and productivity and are paid commensurately–value for value. Like you, we reject such “help” and seek only restitution of what we have earned and has been taken and to be free of governments’ theft in the future.
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It is not an entitlement because it was a contract with the government. It was an offer I couldn’t refuse. There was a trust fund before the Clintonistas took it to finance all the shit in the 90s and claim a surplus.
I too would take a buyout but, I want the interest I could have earned or the ROI from investments I could have made.
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“your an idiot” or “You’re an idiot”?
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I guess good editors are hard to find.
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“payed” or “paid”?
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Neither. “Paved” as in a road paved with tar and asphalt.
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Well, he can spell “you’re” at least. I’ve always wondered about the SS “contributions.” It does appear that they were used to fund things like the Vietnam War, for example
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Sounds like you’re ready to get in one of your trademark cattle cars and ride off into the sunset! F. this gen warfare shite! Boomers had F. all as much to do with the gross universal cash heist as the gen before them, perhaps less!
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Ignore Marc and Lisa, Robert. Another great article.
Maybe Marc lives in California. Hope he enjoys house arrest:
California Orders Lockdown for State’s 40 Million Residents
California ordered its 40 million residents to stay at home except for essential activities beginning Thursday night in the largest such lockdown in the U.S.
https://www.wsj.com/articles/china-reports-no-new-domestic-coronavirus-infections-for-the-first-time-since-outbreak-started-11584611233
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This is a great idea. Let’s take it a step further in line with the current and apparently fashionable hatred towards Boomers and just round up everyone over 65 and execute them.
This would be more merciful then cutting off all “entitlements” and watch Seniors die a slow death with no money or medical care.
But, by all means, lets keep paying the FSA to sit around, have 8 kids and get high. Let’s keep building $6 Billion dollar aircraft carriers. Lets keep pouring untold Billions in foreign aid to countries that hate us.
Great idea. BTW…how old are you?
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I’m a Boomer and I’m for the repudiation. SS and all the entitlements were unlawful from the beginning. Boomers didn’t put them in place but we didn’t repeal them either – along with crap like the Dept. of Education (no federal authority for it to exist) and the wars that have continued almost uninterrupted in my lifetime. I have five kids. If they don’t want to take care of me when I am too old to take care of myself then I guess I did a good job.
I hope the younger generations develop the balls to do what we did not.
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This ‘happening’ is revealing. Revealing those who are selfish and think only of themselves. It also is revealing an opposite that is good to see, and witness.
Remember, Fear can be used in a good way (Jude 1:23) or in a bad way.
How do you see the world using it?
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So Bernie won’t / can’t do anything good and the whole system needs to radically change
?
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So Bernie won’t / can’t do anything good and the whole system needs to radically change
?
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Yes.
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The countries that preserve their elder scientists, engineers, doctors, and businessmen will be in a prime position for economic growth. The countries that allow that expertise to slip away will enjoy poverty for generations to come.
So tell me more about this lovely “Boomer Remover”. If you love it so much, charter a flight to Italy or Iran and breathe deep. Or just skip the trouble and find the nearest cliff.
-Signed, a Millennial who hates Millennial and Gen-Z scum.
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Excellent article as usual, Robert!
Linked as usual @https://nothingnewunderthesun2016.com/
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Thanks, although some have suggested that I should be the first boomer removed! (see above)
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If we live, or we die, we are the Lords’. I have almost gone a few times now in this rather surprisingly long life of mine (70 yrs, in the fall) It has given me great comfort to remember, although I don’t know exactly why, that I’m always in G*ds’ hands. It is always He Who decides for you to stay here, or sleep and wait for His Son to awaken you. Many, many, more worthy than me have already passed, and when I go, I’ll be anticipating the Resurrection, and hoping for it. If it’s C-19, so what? It could just as well be a bullet from somebody angry with me. I would not want Robert Gore to go any time soon, as Wisdom is more value than pearls or choice silver. If it’s time for me to smile back, I’ll smile. Stay frosty y’all, the only way to live is standing up and with courage. Audente Fortuna Juvat.
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Sean
Thank you for the kind words, and for this: “the only way to live is standing up and with courage.” Keep standing up, and keep thinking for yourself (after 70 years of doing so, I don’t think that will change).
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excellent article, I remember back in 74 when I had the second longest bus route as a student driver. took about 1 hour and 55 minutes in my chevy bus, but the old tac bus gave me 2 hours and 35 minutes so 5 hours and 10 minutes a day for a month. I awaited my first check and it had this crap on it I had never seen before. fed tax, state tax, ss. it was 208.16. Every job I had done before that I was paid cash.. tossing watermelons or hay bales, working at the gas station doing points and plugs, oil changes, carb rebuilds, grease jobs. working at a store.
I would love that deal of just give me what i’ve paid in with long hours and hard work.
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I note you don’t mention the Federal Reserve. You don’t mention the MIC. You know the government stole 2 trillion in SS monies but don’t mention that. You say the Supreme Court said SS is not insurance. So how does that make it a done deal when the Supreme court also agreed to Obamacare as a tax and countless other infringes upon our rights. And tell us what the ‘I’ in FICA is. Hint- Insurance.
I am a boomer. You say we stole everything not nailed down doing your best to push the generational war button. Then how is it I barely survived? Where is my cut? I worked everyday of my life and yet I am somehow a thief. Somehow all the free stuff never showed up on my door.
You act as if we boomers could have stopped any of the thieving by government or the devaluation of the dollar by the FRB. I voted every election to stop it, yet it went on. Voted for Ross Perot and Ron Paul. Finally I have stopped voting.
I really get tired of being included with the boomers in government. They were screwing us just as they are screwing the other generations.
Tell you what,,, Go write your congress critters and see how far you get.
Your remarks concerning the virus are spot on however so there’s that.
Regards
Ken Munger
Pensacola FL
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Adding to the debt (repudiated or no) I am shocked what was in the most recent “porker” passed this week. My Congress Critter elatedly just sent me an email trumpeting the following (but no sign of who the hell is going to pay for this all) P.S. I thought schools were for education, not free eats.
Eligible employers will receive a dollar-for-dollar tax credit for any paid leave they provide under this program. Employees will be able to receive the paid leave directly from their employer, rather than an inefficient government-run program.
$1.2 billion to help cover the costs of coronavirus testing for all Americans
$142 million to eliminate copay requirements for service members and veterans
100% tax credit for leave for businesses with fewer than 500 employees credited against quarterly payroll taxes (up to capped levels)
Increased flexibility for small businesses under 50 employees so they are not unduly harmed
Expansion of the Family and Medical Leave Act (FMLA) to cover employees unable to work due to unforeseen childcare circumstances, like a school closure
Funding and flexibility to ensure low-income students continue to have access to healthy meals if schools are closed
$500 million for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)
$250m for senior nutrition programs, including home-delivered nutrition programs like Meals on Wheels
$400m for the Emergency Food Assistance Program
$1 billion for emergency grants to states for activities related to processing and paying unemployment insurance benefits
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Great ideas. So the change to repudiation starts when? What day? When there’s a tipping point? When the young get together, like the workers will, one day? Ready set go? This is a senior idea, stuck in the inability to ask the question differently. There is. No. Contract.
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I have always said that the system we live under will go on until either the money runs out or it becomes worthless. Once either of those happen, things will change. It’s debatable which will occur first and it’s possible that we may see both happening in a very short time span.
One thing is for certain. Systemic change is coming. Society and the economy will not be the same as it has been for so long. The way people think and act will change, not always for the better. What the result of all this change will be is anybody’s guess. Total, lockdown-capable, one-world government? Total mindless, violent, Mad Max type chaos? Something in between the two extremes? Who knows? I certainly don’t and am not going to hazard any guesses.
One other thing I am certain about is that it is useless to blame others for what is happening now. We are all in this together. We are all responsible to some degree. We will all have a part to play in the breakdown and the subsequent rise of a new system and society. It is far better and more productive to focus on that than it is to throw stones.
That being said, repudiation of debts is coming. The modern world was built on debt, ever-increasing debt, and it has reached the point where it now costs more to service the debt than the debt produces. It will end. The system we are all familiar with is dying. Get used to it.
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Words of wisdom.
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I predict the end of our nation will begin in 2024, when America elects its first female president, Alexandra Ocasio-Cortez.
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