Optimizing Student Debt Relief


One of the pieces of lard that the Democrats have gummed up the passage of a pandemic relief bill with is $10,000 in debt relief for student loans. People have been asking what relationship exists between student loan debt and the Wuhan virus panic.

I think I see their angle. They’re trying to optimize the amount of debt to be forgiven.

You see, while student loans are not dischargeable in bankruptcy, they don’t usually survive the death of the debtor. Thus, dying results in 100% debt relief.

Now, if the nation’s response to the pandemic can be delayed enough to increase the number of excess deaths, it’s possible that the total amount of student debt relief could exceed a mere $10k per debtor.

At least, that theory makes as much sense as anything the Democrats have said in public.

The Morning After Stupor Tuesday


It looks as if Biden has taken the lead with 397 delegates, and Bernie is not far behind with 356. Fauxcahontas is in a distant third place with 48, but that still more than the 43 that Mini Mike was able to buy. The two dropouts, Mayor Pete and Klobuchar, have 26 and 7 respectively, and the least insane of the Democrats running, Tulsi Gabbard, has 1.

A side note about Sanders and Bloomberg: There’s an old line that says and honest politician is one who stays bought, meaning one who honors the “requests” of his significant “donors.” Bernie and Mini Mike seem to be pursuing what they hope is an honest electorate—one that will stay bought. The difference between the two is that Bernie is promising to use other peoples’ money while Mini Mike is also using quite a bit of his own.

Yep, everything is proceeding more or less as I have foreseen.

Stupor Tuesday


Tulsi Gabbard won a delegate which would have qualified her for the next debate under the old rules, so the DNC is already making noise about the rules changing.

Fauxcahontas came in third in her home state of Massachusetts.

Bernie finally got more than 50 % of the vote in a primary—in his home state of Vermont.

Biden appears to have beaten the 50 % mark in Virginia and Alabama.

The poll are just closing in California as I type this, and I’d rather get some sleep than pretend to be especially interested.

BTW, there were more voters in the Republican primaries than in the Democrat races in Alabama, Arkansas, Oklahoma, Tennessee, and Utah.

Math is Hard


Bernie Sanders is proposing a national health care system commonly referred to as Medicare for All. The low-side estimates of the program’s cost are around 3 trillion dollars a year.

Michael Bloomberg’s net worth is estimated to be about 62 billion dollars. If Bernie were to confiscate all of that wealth (and it could be liquidated as cash), he could pay for a week of his proposed program. If he could similarly liquidate the fortunes of the ten richest Americans, he wouldn’t find enough money to run Medicare for three months. And he would have destroyed productive assets that would generate further cash flow to fund the system. Even if he kept the seized assets as an investment portfolio (equivalent to a 100 percent income tax rate), a reasonable long-term rate of return would only provide for a week-and-half of Medicare for all each week.

The other 95 percent of the money required would exceed the government’s current income from taxes, so bringing Medicare for All online while maintaining something near the current level of other government services would require at least doubling the current total amount of federal taxation. If the billionaires have had their assets seized so that they have nothing left to be taxed, who do you think is left to be taxed? Cleaning out the millionaires won’t produce the same windfall as billionaires. If it’s still possible to pay wages at the current level after much of the productive investment in the economy is destroyed, then the average citizen’s share of the federal tax burden would likely rise to above 33 percent of personal income.

And then we’d have to figure out how to pay for the Green Nude Eel.

Bernie Bros and Bernie Bots


The Washington Post reports that Senator Bernie Sanders has received a briefing from intelligence officials claiming that the Russians are acting to interfere in the Democrats’ primaries in support of Sanders. My podcasting partner Stacy McCain has posted his thoughts on the matter, and they’re worth reading.

Yesterday, I pointed out that the 2016 Russian Collusion Hoax never make sense. Why would the FSB or GRU or other Russian organization work to support an American presidential candidate who was promising to take effective actions against Russia’s interests? Russia supporting Trump over Clinton made no sense.

Recycling Russian collusion, this time supporting Sanders, may be a act of desperation by the Democrat establishment, but at least it makes sense.

Sanders claims to be a socialist, but based on his record, it’s probably more accurate to view him as a communist. If one of America’s adversaries were looking to support a politician who would weaken our economy, our military, and our standing in the world, who in the 2020 field of candidates fits the bill better than Sanders? While many Russians are too young to remember the USSR, the country’s leadership does. They saw (and many participated in) they way communism ruined Russia. They are no longer communists because they’ve seen communism fail, but they still think as Marxists, so they view the world in terms of a zero-sum power struggle. The logic of that worldview would lead them to favor candidates such as Corbyn in the UK and Sanders here.

And it is all about power.

The Russian nomenklatura have maintained power by allowing a quasi-Fascist alliance between government and oligarchs to evolve. Similarly, the Deep State has developed alliances throughout the West which are threatened from the Right by Trump and the Left by Sanders. In 2016, the Democrat establishment was successful in suppressing Sanders’ candidacy, but they failed to defeat Trump. Four years later, they’ve failed in their efforts to nullify that election. As one prominent Democrat observed, elections have consequences, and one of the consequences of 2016 is that the Deplorables learned they can push back against the elites and win. The ongoing struggle for command of the Democratic Party will be interesting to watch.

I’m ready for my second cup of coffee this morning. I think I’ll put a bag of popcorn in the microwave as a mid morning snack.

This Ain’t Staying in Vegas


I was tempt to simply comment, “Everything is proceeding as I have foreseen,” but that wouldn’t be strictly correct. Another commenter on Twitter tweeted that Mini Mike had brought a wallet to a gun fight, and I had expected that Bloomberg’s billions should have brought him bette debater preparation. It didn’t.

Bloomberg clearly has run up against the Dunning-Kruger effect with respect to his ability to move from a AAA position (large city mayor) to the big leagues. His money can’t buy competence. While I did foresee him swinging and missing, he’s done it sooner than I expected.

Can he get his act together, or will he strike out? We shall see.

Meanwhile, buy popcorn.