The US Bureau of Economic Analysis, an "official" source of news, reported what
everybody has already known: government worker compensation in the United
States is now an average of more than US$120,000, or about twice as much as the
average private sector worker making less than $60,000.
I find this particularly interesting because I get a chance to answer some of
my critics, who say to me, "Bah! Even though you are absolutely right about the
foul Federal Reserve and how their continually creating more and more money is
going to ignite an inflation in prices that will destroy us, and you are
entirely correct that buying gold, silver and oil are terrific bargains right
now because of it, and you are completely spot-on that Obama and congress are
repugnant socialist morons, but you are not as
handsome as you think you are, and a lot more stupid, too. And lazy. For
instance, you never do any real work."
So, I now shut these complaining, nasty people up by doing a little
"investigative research", in this case to expose more obvious, odious, lying
Democrat partisan-bias in PolitiFact.com, a popular feature that purports to be
"sorting out the truth in politics". They even have a little Truth-O-Meter to
show how truthful something was! Oooh!
The story is that last February, which was six months ago, I was looking
through the newspaper and was stunned to read where a PolitiFact.com staff
writer named Catharine Richert took issue with US Senator Scott Brown saying
that "Federal employees are making twice as much as their private
counterparts."
She looked and found that, sure enough, federal employees made an average wage
of $79,197, versus $50,028 for private-sector workers. Then, by completely
ignoring the overly-generous benefit packages that government employees enjoy,
and thus taking the total compensation disparity over 100%, as per Senator
Brown's claim, she instead rates the claim "false" because government wages,
alone, are not twice as high as private wages!
Not "partially true." Not "slightly true". False!
The little Truth-O-Meter icon had the red arrow pegged to the left, and "FALSE"
written in big, big letters to make sure you got the point.
So much for PolitiFact.com, as far as I am concerned.
Too bad neither she nor the other Politic-Fact morons rated the veracity of The
Mogambo saying, "The neo-Keynesian econometric idiocy of the Federal Reserve
that has defined American expansionist monetary policy for the last
half-century is a Big, Stinking Load Of Crap (BSLOC), the Democratic Party's
stupid idea that government is supposed to spend its time constantly expanding
entitlements and 'helping people' by spending more and more money on them and
literally giving them money, goods and services is another Big, Stinking Load
Of Crap (BSLOC), and the only thing that is NOT a Big, Stinking Load Of Crap
(BSLOC) around here, as far as I can tell, is the terrific advice of The
Fabulous Mogambo (TFB) to buy gold, silver and oil to protect yourself and
prosper as a result of these two idiocies, which makes it all so easy that you
involuntarily smile and say to yourself, 'Whee! This investing stuff is easy!'"
And, if she, or they, had really, really looked at the last 4,500 years of
history and how gold has gone up 500% in the last 10 years while the stock
markets haven't gained a dime, their precious little Truth-O-Meter would have
pegged out as "Completely True".
And easy, too! Whee!
Richard Daughty is general partner and COO for Smith Consultant Group,
serving the financial and medical communities, and the editor of The Mogambo
Guru economic newsletter - an avocational exercise to heap disrespect on those
who desperately deserve it.
Republished with permission from
The Daily Reckoning. Copyright 2010, The Daily Reckoning.
Head
Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East,
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