Economically illiterate New York Times writer Michelle Goldberg, who supports the Green New Deal, said she didn’t notice when thieves charged more than $11,000 to her credit card

Michelle Goldberg is an opinion writer for the New York Times. She is in favor of Alexandria Ocasio-Cortez’s Green New Deal. In a recent column, Goldberg wrote:

“Warren, of course, will also be good on climate, and she has endorsed the idea of a Green New Deal put forward by Democrats like Representative Alexandria Ocasio-Cortez.”

In the same column, Goldberg displayed her own economic illiteracy when she explained that she never looks over her monthly credit card statement, and that it was only when her husband looked at it that she found out that a corrupt and fraudulent bank had been charging her hundreds of dollars per month, for years, for a total of more than $11,000. She wrote:

“A few years ago, when I was self-employed and had recently had my second child, my husband went combing through my credit card statements, looking for tax deductions that I’d missed. I’m financially disorganized at the best of times, and with a baby and a toddler, I was barely even trying to keep track of my business expenses. So it’s not surprising that I hadn’t noticed the hundreds of dollars of weird recurring bank charges that my husband discovered.”

“It turned out I’d been signed up for a dubious program that purported to protect users’ credit in certain emergency situations. My bank had been accused of fraudulent practices in connection with it and fined $700 million by the Consumer Financial Protection Bureau, the government agency that was Senator Elizabeth Warren’s brainchild. I tried, maddeningly, to seek redress from the bank — cycling through phone trees, screaming at automated operators. No one could tell me how I’d been enrolled in the program, or for how long.”

“Eventually, I turned to the C.F.P.B. itself, filling out a simple form on its website. A few weeks later, I was notified that the bank had been deducting money from my account for years, and I was being refunded more than $11,000. Having financed my own maternity leave, I badly needed the money.”

The fact that Goldberg never looked over her monthly credit card statements, and that she hadn’t noticed this theft and fraud, proves that she is economically illiterate.

And it’s that same economic illiteracy that causes Goldberg to support the Green New Deal.

Even the supporters of the Green New Deal admit that they don’t know where the money to pay for it is going to come from.

In September 2018, CNN published this transcript of a conversation between Ocasio-Cortez and CNN correspondent Jake Tapper, where Ocasio-Cortez repeatedly refused to answer Tapper’s questions about where the funding for the Green New Deal would come from. Here are their exact words:

TAPPER: Your platform has called for various new programs, including Medicare for all, housing as a federal right, a federal jobs guarantee, tuition-free public college, canceling all student loan debt.

According to nonpartisan and left-leaning studies friendly to your cause, including the Center on Budget and Policy Priorities or the Tax Policy Center, the overall price tag is more than $40 trillion in the next decade.

You recently said in an interview that increasing taxes on the very wealthy, plus an increased corporate tax rate, would make $2 trillion over the next 10 years.

So, where is the other $38 trillion going to come from?

OCASIO-CORTEZ: Well, one of the things that we need to realize when we look at something like Medicare for all, Medicare for all would save the American people a very large amount of money.

And what we see as well is that these systems are not just pie in the sky. They are — many of them are accomplished by every modern, civilized democracy in the Western world. The United — the United Kingdom has a form of single-payer health care, Canada, France, Germany.

What we need to realize is that these investments are better and they are good for our future. These are generational investments, so that not just — they’re not short-term Band-Aids, but they are really profound decisions about who we want to be as a nation and as — and how we want to act, as the wealthiest nation in the history of the world.

TAPPER: Right. Now, I get that, but the price tag for everything that you have laid out in your campaign is $40 trillion over the next 10 years.

I understand that Medicare for all would cost more to some wealthier people and to the government and to taxpayers, while also reducing individual health care expenditures.

But I’m talking about the overall package. You say it’s not pie in the sky, but $40 trillion is quite a bit of money. And the taxes that you talked about raising to pay for this, to pay for your agenda, only count for two.

And I — we’re going by left-leaning analysts.

OCASIO-CORTEZ: Right.

Well, when you look again at, again, how our health care works, currently, we pay — much of these costs go into the private sector. So what we see is, for example, a year ago, I was working downtown in a restaurant.

I went around and I asked, how many of you folks have health insurance? Not a single person did, because these — they were paying — they would have had to pay $200 a month for — for a payment for insurance that had an $8,000 deductible.

TAPPER: Yes.

OCASIO-CORTEZ: What these represent are lower costs overall for these programs.

And, additionally, what this is, is a broader agenda. We do know and we acknowledge that there are political realities. They don’t always happen with just the wave of a wand. But we can work to make these things happen.

And, in fact, when we — when you look at the economic activity that it spurs, for example, if you look at my generation, millennials, the amount of economic activity that we do not engage, the fact that we delay purchasing homes, that we don’t participate in the economy and purchasing cars, et cetera, as fully as possible, is a cost.

It is an externality, if you will, of unprecedented — unprecedented amount of student loan debt.

TAPPER: So, I’m assuming I’m not going to get an answer for the other $38 trillion.

So that’s the relevant part of the conversation between Ocasio-Cortez and CNN correspondent Jake Tapper.

You can see their conversation here:

https://www.youtube.com/watch?v=6CWUgPWRhxU

Supporters of the $40 trillion Green New Deal have already said where $2 trillion of its price will come from. But when Tapper repeatedly asked Ocasio-Cortez where the other $38 trillion was gong to come from, she repeatedly refused to answer him.

Perhaps Ocasio-Cortez could charge that $38 trillion to Michelle Goldberg’s credit card.

April 7, 2019. Tags: , , , , , , , , , , . Alexandria Ocasio-Cortez, Economics. Leave a comment.

The Democratic Socialists of America supports the same policies that have destroyed Venezuela’s ability to feed itself

The New York Times just published this article, which is titled “The Millennial Socialists Are Coming.” The article talks about the growing popularity of socialism among Millennials, and points out several examples of socialist candidates beating long term Democrats in primary elections.

The New York Times article includes this link to the constitution and bylaws of the Democratic Socialists of America. Here is a brief excerpt from it (the bolding is mine):

“We are socialists because we reject an economic order based on private profit, alienated labor, gross inequalities of wealth and power, discrimination based on race, sex, sexual orientation, gender expression, disability status, age, religion, and national origin, and brutality and violence in defense of the status quo. We are socialists because we share a vision of a humane social order based on popular control of resources and production, economic planning, equitable distribution, feminism, racial equality and non-oppressive relationships.”

Let’s take a look at what those two bolded parts manage to achieve when they are adopted in the real world. Specifically, let’s take a look at what’s currently going on in Venezuela, which I have previously described in great detail in this lengthy and well sourced blog post, which I have titled, “The Maduro diet: How most Venezuelans lost an average of 19 pounds in 2016, plus another 24 pounds in 2017.”

The Democratic Socialists of America claim that they “reject an economic order based on private profit.” That’s exactly what Venezuelan president Hugo Chavez was doing when he started implementing price controls on food in Venezuela in 2003. These price controls caused shortages of food. Anyone who understands Economics 101 knows that price controls cause shortages.

The Democratic Socialists of America claim that they support “popular control of resources and production.” This is exactly what Hugo Chavez did when he had the government seize more than 10 million acres of farmland from private owners. As a result of these land seizures, food production fell substantially.

Before Chavez died, he appointed Nicolas Maduro to be his successor. After Chavez died in 2013, Maduro continued Chavez’s policies.

In 2018, all of Chavez’s food policies are still in effect. The profit motive has been taken away from food production. Ownership of the means of producing food has been collectivized.

Because the Venezuelan government adopted the exact same polices that are supported by Democratic Socialists of America, most Venezuelans lost an average of 19 pounds in 2016, plus another 24 pounds in 2017.

And you don’t have to take my word for this. My blog entry that I mentioned earlier contains a very large number of links to sources which document exactly how this happened.

One thing that’s interesting about the links in my blog entry on Venezuela is that many of my sources are links to articles in the New York Times. And yet the current article form the New York Times on the Democratic Socialists of America makes absolutely no mention of the the kinds of horrible disasters that happen when such policies are adopted in the real world.

And before anyone goes and mentions the Scandanavian countries, I would like to point out that those countries have by no means adopted the polices supported by the Democratic Socialists of America that I quoted and bolded above. They have not abandoned the profit motive, and they have not turned their means of production over to collective ownership.

On the contrary, Sweden, Norway, Finland, and Denmark all have thriving private sectors with huge corporations that make massive profits.

 

June 30, 2018. Tags: , , , , , , , , , , , . Alexandria Ocasio-Cortez, Communism, Economics, Venezuela. 1 comment.