Armstrong Economics Blog/Politics
Re-Posted Aug 4, 2018 by Martin Armstrong
The Democrats are counting on a new generation of Socialists who know even less about how things work than just about anyone else perhaps in history. Alexandria Ocasio-Cortez has had a viral campaign video that has pushed her into stardom. Clearly, she won because of the Trump Revolution which is all about just throw the career politicians out the door. But there is a lot more to representing people. It would be nice to at least have someone who understands the subject matter.
Alexandria Ocasio-Cortez created a huge backlash over her description of Israel as an occupier of Palestinian land. She describes herself as a socialist, which enthralled the Democrats who love the idea of living off of other people’s money. She calls our economic system “hyper-capitalism” and says that capitalism has not always existed and will collapse. Equality to Democrats ends with race and gender. If you make more than them, that is “unfair” and you have no right to the fruits of your own labor. And for working hard your whole life and you want to retire, well you still have to pay property and income taxes. And of course, you saved to help your children, that’s not fair that they should inherit anything they do not have so they put in inheritance taxes.
So if Ocasio-Cortez has not lost the Jewish vote by saying that the Jews occupy Jerusalem, then in an attempt to explain why unemployment levels have dropped to lows of 3.9% and below under the Trump administration, Alexandria, who was an economics and international relations major, explained, “Unemployment is low because everyone has two jobs.” Obviously, she may have majored in economics and international relations, but there is clearly a reason she could not find a job and was still a waitress/bartender. It looks like she failed in both subjects.
The “Firing Line” host Margaret Hoover asked Ocasio-Cortez directly if she still thinks that capitalism is not the best system for promoting the middle class. Her response was astonishing:
“I think the [unemployment] numbers that you just talked about is part of the problem,” said Ocasio-Cortez. “Because we look at these figures and we say that unemployment is low and everything is fine, right? Well, unemployment is low because everyone has two jobs. Unemployment is low because people are working 60, 70, 80 hours a week and can barely feed their kids.”
If everyone is working 60 to 80 hours and that is why unemployment is low, I do not see where she is capable of basic logic. That would mean there is a shortage of labor and room for a lot more jobs so people can work just 40 hours.
Her comment that America’s economic system is “hyper-capitalism” is really strange. She defined her term: “So I do think right now we have this no holds barred, wild west hyper-capitalism. What that means is profit at any cost. Capitalism has not always existed in the world and will not always exist in the world.” Those are words right out of Marx and Lenin. They said socialism/communism would be the new world order and capitalism would collapse. In her world, what is yours is hers, and what is hers, is hers. Former workers speak out about how she was anything but fair in splitting tips. Preach what people should do, but never do it yourself.