I received an interesting email from Hugo Salinas Price in response to Reflections on "Moral Choice" and the Definition of "Temporary"
Hugo writes ...
Hi Mish!Law of the funnel certainly describes the economic results we see.
Thanks again, for the mention!
It's odd that only those who are to pay, have to make a "moral choice". In Mexico, we call this "La Ley del Embudo" ("The Law of the Funnel"): at the wide top end the 99% contribute, at the bottom narrow outlet the 1% collect.
I think many good teachers would make the right moral choices, but as the California law now stands, they are actually prevented from making any choice, since their money is taken from them and they have no say in how it is to be used.
Used to be that great teachers - I had one, God bless him - taught because they loved to teach children, and lived very modestly indeed.
Here are links to Hugo's two most recent articles.
The first link above is on fiat money vs. gold, and the second is about the crisis in Europe.
Mike "Mish" Shedlock