‘Just the facts’ presented about 
Mesa County’s jobs and economy

Thanks for visiting The Daily Sentinel

Subscribers and registered users, log in to continue reading for free*

Forgot your password?    

Register to read for free! Become a subscriber

* 7-day subscribers have unlimited access to online content.
Registered users may read 12 articles per month.


Commenting is not available in this channel entry.

Jim Spehar’s Tuesday column – “’Just the facts’ were presented about county jobs” – debunks two myths which underlie the Romney-Ryan campaign.  First, the “government” does create jobs – as well as providing the infrastructure upon which all businesses depend for their success.  Second, success in business does not necessarily provide experience that is transferable to public governance.
  This latter insight is particularly applicable to Mitt Romney – who was the direct beneficiary of a $10 million loan write-off by the Federal Deposit Insurance Corporation and the indirect beneficiary of “corporate welfare” redistributed to Bain Capital through a distorted and unfair tax code, but all in the name of mythological “free enterprise”.
  The financial strategy of Bain Capital was to cherrypick companies ripe for take-over because of their cash-on-hand or fully funded pension plans.  When Bain Capital’s infusion of private equity into a marginal or failing business enabled that endeavor to survive, Romney justifiably made money.  Because of a perversion of the tax law, profits distributed to partners in venture capital firms are taxed as capital gains, not “income”.
  However, if that business failed, Bain Capital did not loose its investors’ money (as one would expect in the context of true “capitalism”), but rather also made money – having legally absconded with the business’s cash reserves and/or mortgaged its pension funds (which were insured by the federal government and thus by American taxpayers).
  Moreover, taxpayers also picked up the tab for unemployment benefits payable to the hundreds (if not thousands) of former employees who had lost their jobs; for the Food Stamps for which many of those now newly jobless workers became eligible; and for the emergency room visits and other medical expenses incurred by families who had lost their medical insurance – thanks to Bain Capital’s involvement.
  Romney and Bain Capital used financial spreadsheets to maximize profits by targetting “low hanging fruit” – and by “outsourcing” thousand of American jobs.
  As Spehar suggests, the decisions faced by a President of the United States are not so easily reducable to spreadsheets.  Those “easy” decisions are made by subordinates in the various cabinet departments.  A President deals with the most unpredictable situations and is handed only the most difficult decisions – where there may be no “right answers” – and cannot cherrypick either the challenges he will confront or the other elected officials upon whom he must rely.
                Bill Hugenberg

Happy belated birthday, Jim!

Jim Spehar’s “Just the facts” might be better called “just the sophistry”.
Spehar confuses his desire to avoid “values judgments” with his inability to articulate with clarity the specific mechanics of Economics 101. In the process of doing that, he completely ignores the reality-based differences between the manufacturing and service sectors of any economy. Government is ostensibly a “service” sector, hence the misleading euphemisms “public service” and “public servant.”
Spehar might benefit from reading Ludwig von Mises “Human Action” and comparing it to Karl Marx’s “Das Kapital”. I had to wade through the latter twice to realize the entire work failed because Marx incorrectly presumed “value” was an objective thing regulatable by government. It isn’t. It’s an individual subjective notion existing only in the eye of the beholder. (You might love liver, I hate it. What’s it’s “value”?)
Spehar mistakenly sees wealth in terms of being “money”. It isn’t. Wealth is material THINGS which have to be made by LABOR and either used directly by the maker or sold to willing buyers for a profit in the marketplace. LABOR creates all THINGS which are made. Without profit, all enterprises go broke. Without profit, there can be no taxes for government, part of the alleged “service” sector, to forcibly collect and fund its exploits and agendas.
Food, clothing and houses are material THINGS which have to be made by labor for human survival. Things are made by MAKERS who provide REAL jobs making things useful to humans. Government is a TAKER. Government is not reason or logic, it is FORCE. It doesn’t make either things, profits or real jobs. It takes the labor (via coercion/taxation) of the Maker class.
I realize full well that the government clerk who goes home at the end of a hard day with tired feet can’t be convinced she doesn’t have a real “maker” job. But it might be explained to her in a comprehensive essay on the difference between flexible manipulation-based political money and inflexible commodity mediums of exchange. She might also benefit from understanding the inherent unsustainability and injustice in legal tender laws which politicians hate to talk about.
But that is too long a discussion for this space. Plus Spehar, in all his sophistic glory (or ignorance), would call that “far right”.

Where does Mr. Wilkenson place private service sector jobs (jobs that do not “make things”), since the service sector is much greater than the manufacturing sector of the US economy?

It seems obvious to me that food, clothing and shelter are a more important priority than “service sector” considerations. It is a complex study well worth the undertaking.
For any persons who have intellectually serious questions, rather than merely mindlessly supporting an unexamined political agenda, I highly recommend “Socialism: An Economic and Sociological Analysis”, by Ludwig Von Mises - http://bit.ly/PGxvBY and “The Fatal Conceit: The Errors of Socialism”, by Friedrich Hayek - http://bit.ly/SREerc
Both can be purchased as books or read free online and downloaded as pdf files.

Search More Jobs

734 S. Seventh St.
Grand Junction, CO 81501
Subscribe to print edition
Sign in to your account

© 2014 Grand Junction Media, Inc.
By using this site you agree to the Visitor Agreement and the Privacy Policy