Millennials

Martin Armstrong: ‘The West Has To Learn That Marx Was Just Wrong’

The final post of last week concerned recent material from my research suggesting socialism is becoming popular among Millennials. I ended with this:

Before moving on to a different topic, I must emphasize these last two posts shouldn’t be construed as some sort of attack on Millennials, Democrats, or socialism. Rather, their purpose was to get an idea of where the country might be heading when “America’s largest generation” start flexing their collective political muscle. And what might be required for “protecting and growing self and wealth” when that happens.

I’m going to add just one more thing before departing this subject. And it’s related to getting that “idea of where the country might be heading.”

Back on November 28, 2017, economist Martin Armstrong discussed China in a post on his company’s website. The creator of the Economic Confidence Model included the following in the piece:

What makes the US economy the biggest? The American consumer and lower taxes than Europe. When you leave more money in the hands of the people, they spend it creating jobs for everyone. Europe is following Marx. They think the government is better equipped to spend other people’s money. That produces corruption, not economic growth.

As long as China keeps its tax rate low and allows the people to spend the benefits of their labour, then it will continue to rise economically and displace those in the West who are blinded by power and pursue this Hunt forever more Taxes. The West has to learn that Marx was just wrong. The strongest economic growth unfolds when people are allowed to spend their own money.

(Editor’s note: Bold added for emphasis)

Again, this post is not an attack on socialism/Marxism. But considering the track record of Marxist states in dealing with “self and wealth,” it only makes sense those serious in “protecting and growing” these things would keep a close eye on the direction the collective political mindset of America’s youth is heading. And act accordingly.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Armstrong, Martin. “Renminbi v the Dollar.” Armstrong Economics Blog. 28 Nov. 2017. (https://www.armstrongeconomics.com/international-news/china/renminbi-v-the-dollar/). 10 Dec. 2017.

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Millennials Turning To Socialism?

Early this morning I blogged about findings from a new Harvard University poll which suggest the U.S., with Millennials at the helm, could be headed “left” and towards stricter gun control.

Recent material I’ve come across in my research also suggests socialism is becoming popular among Millennials.

The AFP’s Maggy Donaldson wrote on November 10:

While working as an electrician Lee Carter received a literal shock, through one hand and across the chest, that jolted him into politics and turned him on to what was a dirty word in America for nearly a century: socialism.

His struggle to obtain compensation for the workplace injury inspired him to run for office, and this week Carter ousted a top Republican incumbent to nab a spot in Virginia’s House of Delegates, becoming one of over a dozen unabashed socialists newly elected to US state and municipal seats one year after Donald Trump took the White House.

The 31-year-old former Marine is part of a growing cadre of Americans, particularly millennials, pledging their allegiance to the Democratic Socialists of America, the nation’s fastest growing leftist group that was originally founded in 1982 as a foothold for Marxists.

Riding the wave of democratic socialist Bernie Sanders’s spirited White House bid against primary rival Hillary Clinton, the organization is helping propel socialism out of the shadows.

In the years prior to the Sanders campaign, the DSA’s number of card-carrying members hovered around 6,500- and has nearly quintupled since 2016’s presidential race to more than 30,000.

Its median age has dropped from about 60 to 35, according to organizers, some of whom have playfully referred to the surge among youth as a “socialist baby boom.”

(Editor’s note: Bold added for emphasis)

There’s also this November 2 media advisory from YouGov (international market research and data analytics firm) and the Victims of Communism Memorial Foundation (D.C.-based nonprofit “devoted to commemorating the more than 100 million victims of communism around the world and to the freedom of those still living under totalitarian regimes”):

Annual Poll Release Shows Americans Still Have A Lot To Learn About Communism

New Poll Reveals Troubling Facts and Encouraging Trends About Millennials in America

This year’s centennial anniversary of the Bolshevik Revolution has caused many to reflect on the legacies that Marxism and communism have left on our cultural memory. It has been a full century since Vladimir Lenin’s Bolsheviks seized power in Petrograd and communism made its bloody debut on the world stage. Authors, activists, and politicians alike are asking the question: what has America learned from one hundred years of communism?

When the Victims of Communism Memorial Foundation published our inaugural study on American attitudes toward socialism and communism last year, the results revealed some disturbing trends in American society.

We just completed our second annual study, tracking how opinions about communism among Americans have changed since 2016. The results aren’t very encouraging.

For starters, as of this year, more Millennials would prefer to live in a socialist country (44%) than in a capitalist one (42%). Some even said they would prefer to live in a communist country (7%). The percentage of Millennials who would prefer socialism to capitalism is a full ten points higher than that of the general population.

It seems that the majority of America’s largest generation would prefer to live in a socialist or communism society than in a free enterprise system that respects the rule of law, private property, and limited government. This is even more disconcerting when coupled with the fact that, despite Millennials’ enthusiasm for socialism and communism, they do not, in fact, know what those terms mean.

One remarkable finding of our study is that, to a high degree, Americans favor absolute protections for free speech, regardless of their views of communism or socialism. Communists and socialists more broadly have historically and ideologically favored state regulation of the press, speech, and popular assembly. Our results suggest that Millennials who favor socialism and communism have not thoroughly considered the implications of their political beliefs.

Communism isn’t back: It never left. We simply forgot about it. And as it rears its ugly head once more, openly and shamelessly, we seem far less prepared to meet the challenge in this century as we did in the last.


Victims of Communism Memorial Foundation, “What is Socialism?”
YouTube Video

Before moving on to a different topic, I must emphasize these last two posts shouldn’t be construed as some sort of attack on Millennials, Democrats, or socialism. Rather, their purpose was to get an idea of where the country might be heading when “America’s largest generation” start flexing their collective political muscle. And what might be required for “protecting and growing self and wealth” when that happens.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Donaldson, Maggy. “Once taboo, socialism finds comrades among US millennials.” Agency France-Presse. 10 Nov. 2017. (https://www.yahoo.com/news/once-taboo-socialism-finds-comrades-among-us-millennials-051949477.html). 7 Dec. 2017.

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Harvard Poll: Millennials Prefer Democrats To Control Congress, Stricter Gun Control Laws

I spotted the following headline on the Washington Examiner website yesterday:

“Harvard: Millennials now biggest voting group in U.S., 2-1 Democratic”

Considering this Gen Xer always strives to get a good picture of where the country might be heading and Millennials surpassed Baby Boomers last year as the nation’s largest living generation, I thought I’d go to the source and see what this is all about. From Harvard University’s Institute of Politics website:

“Two-thirds of youth fearful about America’s future, prefer Democratic control of Congress, Harvard youth poll finds”

CAMBRIDGE, MA – A new national poll of America’s 18- to 29-year-olds by Harvard’s Institute of Politics (IOP), located at the Kennedy School of Government, finds that two-thirds of young Americans (67%) are more fearful than hopeful about America’s future. Less than one year before the 2018 midterm elections, likely young American voters cite preference for Democratic control of Congress, 65% to 33%.

The Fall 2017 poll, the IOP’s 34th major public opinion poll since 2000, also shows that President Trump’s approval ratings continue to decline, heightened concern about the state of race relations in the country and increased support for stricter gun control laws.

(Editor’s note: Bold added for emphasis)

Key findings included:

4. Democratic control of Congress preferred 2:1; Democrats more engaged, Republicans less so, compared to 2014 midterm cycle; motivation among Democrats +9 since January

Among 18- to 29-year-olds who are likely to vote, 65% would prefer to see Democrats control Congress after the 2018 midterms. One third of young voters (33%) prefer Republican control. Independent voters prefer Democratic control by over 30 points (66% to 32%). Across most measures, young Democrats in our poll are more engaged politically than they were at a comparable time in the 2014 midterm cycle, while Republicans are less engaged. The percentage of Democrats who consider themselves politically engaged has increased 8 points, from 24% to 32%, while Republican engagement is down 7 points, from 31% to 24%.

(Editor’s note: Bold added for emphasis)

Among the additional findings:

7. 61% of young Americans believe gun laws should be more strict, representing a marked change since 2013 when less than half (49%) felt the same way.

(Editor’s note: Bold added for emphasis)

These poll findings suggest the U.S., with Millennials at the helm, could be headed “left,” with more gun control laws being enacted.

That being said, I did observe the following in the poll’s “Topline Report” which could raise questions about the findings/claims made:

6. When it comes to voting, with which party do you consider yourself to be affiliated?

Net: Democrat… 38%
Net: Republican… 22%

Independent/Unaffiliated… 39%
Lean Democrat… 10%
Lean Republican… 6%

7. When it comes to most political issues, do you think of yourself as a…?

Net: Liberal… 37%
Moderate… 28%
Net: Conservative… 32%

Critics might point out the “shortage” of Republican, Republican-leaning Independent, and Conservative poll respondents.

Still, the findings of this new Harvard poll only increases my suspicions of what could be in store for America down the road.

More on that later. In the meantime, you can read about the poll on the Institute of Politics’ site here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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SP Intel Report- November 11, 2015

Chicagoland

Moody’s Predicts Chicago’s Unfunded Pension Liabilities Could Grow For At Least Another Decade

Regrettably, the City of Chicago’s pension crisis is far from being resolved. From a press release out of Moody’s Global Credit Research division Tuesday:

New York, November 10, 2015 — Today, Moody’s Investors Service released a scenario analysis of the City of Chicago’s (Ba1 negative) possible pension funding paths. The scenarios incorporate the city’s recently adopted property tax increase as well as the outcomes of two key decisions pending with the State of Illinois (Baa1 negative) and the Illinois Supreme Court. The analysis indicates that, despite significantly increasing its contributions to its pension plans, Chicago’s unfunded pension liabilities could grow, at a minimum, for another ten years.

“Chicago’s statutory pension contributions will remain insufficient to arrest growth in unfunded pension liabilities for many years under each scenario,” Moody’s AVP-Analyst Matthew Butler says in the new report, “Chicago’s Pension Roadmap: A Scenario Analysis.”

(Editor’s note: Bold added for empashis)

You can read the entire press release on Moody’s website here.

National

U.S. Adults Over 30 Are Less Happy Than Their Predecessors

I spotted the following yesterday on the MarketWatch website. Catey Hill reported Monday night:

It all goes downhill after 30 — at least when it comes to happiness.

“Adults over 30 are less happy than their predecessors,” concludes a study published online Thursday in the journal Social Psychology and Personality Science, which examined happiness data from more than 50,000 adults, gleaned from the General Social Survey, carried out by NORC at the University of Chicago, a nonpartisan, independent research organization, which has collected information about American adults since 1972.

From 2010 to 2014, adults over 30 had an average happiness score of just 2.18, compared with 2.24 a decade ago. That’s significant considering happiness scores were measured on a tiny scale from just 1 to 3, with 1 being “not too happy” and 3 being “very happy.” (The data used five-year cohort periods so that single year fluctuations were smoothed out.)

(Editor’s note: Bold added for emphasis)

A graph within the article depicted happiness scores by age over time. Something stood out right away for me looking at the measure for the “30 or older” crowd. Happiness scores rose from around 1993 until 2001- then plummeted ever since. In 1993, I remember older classmates of mine at the University of Illinois at Urbana-Champaign saying the job market was pretty rough (but better than recent years where graduate school was a popular option). Lots of bad economic news as well back in 2001. Hill added later:

What’s perhaps even more interesting is that, for the first time ever, adults ages 18 to 29 were happier than adults over 30

(Editor’s note: Bold added for emphasis)

The authors weren’t sure why “younger adults are happier than older ones for the first time in at least 40 years.” I’d like to offer up one possible explanation for some in that demographic:


“Cartman sends his mother to the store”
YouTube Video

In all seriousness, I come across a lot of miserable stuff on a daily basis while conducting research for this blog and other projects. I try to keep upbeat by remembering:

1. While I still see a financial crash in store for us, I don’t envision the end of the world taking place. Although it could be the end of the world as we know it (TEOTWAWKI).
2. Life ain’t fair. Nobody’s perfect. Just do the best you can.
3. God’s got my back. And I’ll try to be the best Christian I can.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Hill, Catey. “Americans over 30 are more miserable than they’ve ever been.” MarketWatch. 9 Nov. 2015. (http://www.marketwatch.com/story/americans-over-30-are-more-miserable-than-theyve-ever-been-2015-11-09). 11 Nov. 2015.

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Survival And Prosperity
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Christopher E. Hill, Editor

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