Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • EMP Threat
    • Tucker Explains
    • Newport Gas Outage
    • Water
      • Emergency Water Storage
      • Let There Be Water
    • Get Your Gun and Your Training Now
    • Satellite Phones
    • Navy SEAL Survival Kit
  • Your Money
    • Coronavirus Infects Stock Market
    • Looking for a Better America
    • You Invest, They Win
    • Where to Keep Your Cash
    • Paris
    • How to Buy a Boat
    • Dead or Alive? The Future of Long-Term Investing
    • Is Vanguard too Big?
    • Cryptocosm and Life After Google
    • The Last Intelligence Report
    • The Truth Behind the S&P 500
    • RAGE Gauge
    • How Many “Retirees” Will Keep Working?
    • Your Retirement Life
    • You’ll Love This if You’re Dreaming of an Active Retirement Life
  • Weapons
    • Self Defense
    • Every Family Should Own at Least One Shotgun: Here Are Three
  • About Me
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
  • You
    • Our Cabin on Kodiak, Alaska
    • If You Are in Pain, this May Help. It Helped Me.
    • How to Save for a Grandchild
    • FIRE! Financial Independence, Retire Early
    • Compound Interest
    • Arithmetic of Portfolio Losses
    • Maximum Portfolio Withdrawal Rate
    • An Efficient Frontier
    • Retirement Compounders
    • Counterbalanced Total Returns
  • Survive & Thrive
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • Welcome

Here’s Why America Can’t Afford to Give Warren an Inch

November 22, 2019 By E.J. Smith - Your Survival Guy

Professor Elizabeth Warren and Assistant Director for Large Bank Supervision Steve Antonakes sign introductory letters to the CEOs of over 170 financial institutions that are subject to CFPB Supervision.

In The Wall Street Journal, Amity Shlaes explains why even mild compromise with Democrats could unleash terrible consequences. She writes:

She’ll only get halfway. That’s the consensus on Elizabeth Warren: If the senator becomes president, Congress will wear down her ideological edge and stymie much of her radical agenda. The result won’t be something free-marketeers can love, but it will be something they can live with and then undo at a later date.

Maybe not. The lesson of the 1960s is that political compromises with progressives can be much more consequential than they look—and preclude future reform.

In the early 1960s, progressives and even outright socialists were gaining an unexpected hold on the national imagination. Two ideas Ms. Warren is mooting, repealing right-to-work laws to strengthen unions and expanding health-care benefits, topped the progressive agenda. Then as now, a strong economy fed the expansive mood. America could afford more public generosity.

The unions came first. Under section 14(b) of the 1947 Taft-Hartley Act, state governments could vote to make collective bargaining voluntary for companies and employees. Nineteen states did just that, and unions sensed the existential threat.

As a senator, John F. Kennedy fought hard for organized labor, but when he was president, Southern and Sun Belt states blocked repeal of right to work, as the state opt-out was known. The president felt he had to throw organized labor a bone. Daniel Patrick Moynihan, then a Labor Department aide, drafted principles codifying the legitimacy of unions in a new area: the federal government. In 1962 Kennedy signed Executive Order 10988. Kennedy and Moynihan told themselves the order was merely a bone: It authorized collective bargaining for federal employees, but deprived them of strike rights.

Kennedy’s mild compromise triggered an explosion of government unionization. States and towns followed his lead. The public unions used the threat of strikes—illegal or legal—to extract compensation that states and towns could ill afford. Hence today’s state pension crises.

When it comes to Dems you can’t give ‘em an inch. If you do, you may be in for the whole mile. Here’s some of what I have written on the benefits of right to work laws, and the dangers public unionization has created in state pensions:

  • Right to Work South Carolina is Flooded in Jobs
  • Is Your State Pension Really about to Explode?
  • Thankful Missouri Citizens Now Have the Right to Work
  • Fuzzy Math Can’t Hide This State’s Pension Trouble Anymore
  • The Clear Value of the Right-to-Work
  • States and Cities Struggle under Pension Weight

One bad decision by Kennedy and Moynihan led to a hollowing out of states’ fiscal security. Americans shouldn’t let Warren do the same.

The following two tabs change content below.
  • Bio
  • Latest Posts
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
My Twitter profileMy Facebook profileMy Instagram profile

Latest posts by E.J. Smith - Your Survival Guy (see all)

  • Only You Know How Much Gold You Should Own - January 25, 2021
  • Unmasking Heath and Human Services Secretary Nominee Xavier Becerra - January 25, 2021
  • Your Personal Safety: Concealed-Carry How to Carry Your Freedom - January 22, 2021
  • Your Retirement Life: Meet Your BMW Club Racing Program Director - January 22, 2021
  • PANDEMIC Pushes Military-Grade Surveillance on Americans Like YOU - January 21, 2021

If you enjoyed this post, email it to a friend:

  • Email
  • Print
  • Facebook
  • LinkedIn
  • Twitter
  • WhatsApp

Related Posts

Trending

  • Your Personal Safety: Concealed-Carry How to Carry Your Freedom
  • There's Always a Way Forward for Americans Like YOU
  • PANDEMIC Pushes Military-Grade Surveillance on Americans Like YOU
  • How Are You Doing on a Local Level?
  • Do You Know Who’s the Largest Owner of Farmland in America?
  • February RAGE Gauge: Americans Focusing on What's In Front of Them
  • Don’t Be on Their Radar, Get Out of Debt Now
  • Tucker Explains: Who Is Biden Nominee Kristen Clarke?
  • The Fed is Sacrificing Retirees to Save the Banks
  • I’ve Been in Richard Young’s Maximizers for Years

YOUR SURVIVAL GUY MUST READS

  • If the Global Elite Win in November, Say Goodbye to Your Guns 
  • Merry Christmas from Your Survival Guy
  • Hunter Biden’s Focus on the “Family”
  • Richard C. Young Helped ME Get Re-Centered
  • Don’t Sweat It When She Asks, “Do We Have Anything to Watch Tonight?”
  • Vanguard Proving Why It’s Too Big, Yet Again
  • You Invest They Win, AGAIN
  • A Christmas Story: Rich Grandchild, Poor Grandchild
  • Chinese Virologist Says China Manufactured COVID-19, Calls it “Frankenstein” Virus
  • Why Vanguard is too Big: Part VI
Only if You’re Serious
Only if You’re Serious
Only if You’re Serious
Escape the City
Smith Family Robinson
Only if You’re Serious
Why Vanguard is Too Big for YOU
See Who's Missing the Boat
You Invest, They Win
Emergency Water Storage
Emergency Water Storage
Emergency Water Storage
Why Fidelity is Number One

Copyright © 2021 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.