• 520 days Will The ECB Continue To Hike Rates?
  • 521 days Forbes: Aramco Remains Largest Company In The Middle East
  • 522 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 922 days Could Crypto Overtake Traditional Investment?
  • 927 days Americans Still Quitting Jobs At Record Pace
  • 929 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 932 days Is The Dollar Too Strong?
  • 932 days Big Tech Disappoints Investors on Earnings Calls
  • 933 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 935 days China Is Quietly Trying To Distance Itself From Russia
  • 935 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 939 days Crypto Investors Won Big In 2021
  • 939 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 940 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 942 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 943 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 946 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 947 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 947 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 949 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

The Mogambo Guru

The Mogambo Guru

Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo…

Contact Author

  1. Home
  2. Markets
  3. Other

The Governmental Money-Vacuum

George Washington

The drunker I get, the more it seems to me that you slave away at your stupid job every day of your stupid life, hating every moment of it, reviling all the idiotic people you deal with every hellish day, but you bravely and heroically put up with the aggravation, tedium and ennui because you desperately need the money.

And then your idiot boss comes walking up, out of nowhere, and wants to get in your face, complaining about all of your mistakes, and erroneous reports, and missing deadlines, and leaving work early, and how you bring your putter and a golf ball to work so that you can practice putting on company time, which you loudly deny by shouting, "That's a lie! That's a big stinking lie! If I was practicing, I would be better than I am! And if I was better at putting, I'd play so much more golf that you probably wouldn't see me for freaking days at a time! But here I am, working at my stupid job, proving that I am not practicing putting on company time!"

And so you, tragically, put up with this, too, because you still need the money, a circumstance alluded to in an earlier paragraph where I also needed money, a literary device to show you that there may be many variables in the universe, but needing money is actually more of a constant.

You find it curious that no matter how much you work, you always have less and less money at the end of the month. It's outrageous! And you want to know where the money went! "Hey", you shout. "Somebody is stealing my money!"

More probably, it is the wife and kids wasting my money on frivolities like, for example, going to a movie, when they have a perfectly good TV at home where they can watch movies for free, instead of costing me money.

Or they are eating in a restaurant, instead of coming home to eat food that is, admittedly, past its expiration date, but the loss of crispness, taste and nutrition are more than offset by the savings that add up when paying the much lower cost of this food, some of which is actually free if you dig it out of the dumpster out back.

I personally don't eat it, of course, but it ought to be good enough for teenagers, and if they don't like it, then they can get a job and buy their own food!

Justifiably incensed and angry about all of this financial foolishness, I am on my way out the door to yell at the wife and kids for being such wanton wastrels, foolishly buying whatever it is that they are buying that is wasting all my money, when I happened to see that the real reason my money is disappearing is revealed in an editorial in The Washington Times: "We Can't Afford This Government."

This was no doubt prompted by the announcement by Americans for Tax Reform that "the average American worked 231 days just to support government, which consumes 63.41 percent of national income." Yow! The government consumes two-thirds of income! We're freaking doomed!

Even more horrifically, the cost of government is getting monstrously, exponentially, catastrophically higher, as, "Just two years ago, Cost of Government Day fell an astonishing 34 days earlier," which is a tax increase of 17.3% in two years! And now the Obama administration wants to raise taxes even more! We're freaking doomed!

A lot of this is due to, as USA Today reported Aug. 10 and The Washington Times reminds us, that "federal pay and benefits per employee now average more than twice that of private workers: $123,049 compared to $61,051."

An interesting sidebar is that "Federal salaries outpaced inflation in the past decade by 33 percent."

Now, as angry as you get about the income disparity between the gilded public servants and their impoverished masters, it is worse than that because I notice that this gain of 33% by federal workers is only the part that was more than inflation, which was, according to the Bureau of Labor Statistics, 27%, meaning that federal salaries went up 60% in 10 years! Un-Freaking-Believable (UFB)! It's surprising they only make double what we private-sector people make!

Imagine how fabulously well these public employees would have done if they had invested their money according to the dictates of the Fab-U-Tastic Mogambo Portfolio Theory (FUTMPT) and invested it all in gold, silver and oil! They would all be multi-millionaires!

This only proves that buying gold, silver and oil, as per the immortal FUTMPT, is not only immensely profitable, but it's easy, too! As in "Whee! This investing stuff is easy!"

 

Back to homepage

Leave a comment

Leave a comment