Weekly Comments: Greece, oil and immigrants affect US economy
#602 May 9, 2010
COLUMBUS: Just when we get Wall Street and the stock market in a mood to grow, Greece goes bankrupt and knocks our finances in a tailspin. Spain and Ireland are teetering on the edge of a financial cliff. In France, a thousand farmers drove their tractors into Paris to protest the low price for crops and higher taxes. England held an election and nobody won, so the Queen might have to step in and earn her salary. I think Europe was better off when they were covered by the volcano ash cloud.
The problem in Greece is the government overspent and overpromised. Greeks are guaranteed a high retirement income and they live a long, long time after they retire. The government has been living on borrowed money, and the younger folks are not thrilled at the prospect of paying off the debt and getting none of the benefits. So they decided to let Germany and the US bail them out. Seems the least we should get out of the deal is a few islands.
If you think Greece is an exception, look in a mirror. Nobody these days is overspending and overpromising more than the folks in Washington. Read what happens to Greece, and in about ten years you can read the same news story with Greece replaced by USA.
That oil gusher under the Gulf of Mexico is confounding the best efforts to control it. Still, I’ll put my faith in BP and the oil industry before I would trust the government to plug it.
Arizona continues to get hammered for wanting to enforce the federal immigration law. According to polls, two-thirds of the country agrees with Arizona, including young people, old folks, Democrats, and legal immigrants. In fact the only group that seems to be against it is television news folks. Oh, and one other: the NBA basketball team that plays in Phoenix. On May 5 they wore uniforms with the logo in Spanish, and announced to the country they would rather represent Mexico than Arizona. Maybe they should move south of the border. See if they can equal their multi-million dollar salaries as the Mexico City Suns.
This immigration issue won’t go away till we require foreign workers to have an ID, provide them seasonal work permits, and make the employers pay a fair wage. We need more legal immigrants, but not ones who break the law to get here. They should not expect to become citizens automatically. That has to be earned.
Immigration is a complicated matter, and not everyone will be happy with the result. I’ll remind you of a previous battle over illegal immigration, where Oklahoma is now located. The legal citizens at the time were Indians, and the illegal immigrants who sneaked across the border were white folks from Missouri and Kansas. The government in Washington sided with the illegals.
Historic quotes from Will Rogers:
"Greece is frying in her own fat." DT #2683, March 12, 1935