This was an idiotic move by Hungary in the first place. Good to see that people power set the government straight. It is always good to see a tax revolt. An anti-Internet tax revolt is even better. Hopefully this sends a message other pols pining for an Internet tax. We know you’re out there.
This comes from a friend of ACC Alejandro Chafuen. He argues, as we did a while back, (Chafuen does it more elegantly here) that The Economist Index of Crony Capitalism is not very good. In fact it’s pretty darn bad.
I personally have been a fan of Amazon for a long time. However, that they are now a CIA contractor gives me some pause. At the very least CEO Jeff Bezos should assure its customers publicly in a legally binding way that it won’t share customer information with the Central Intelligence Agency. (As activists are demanding.) That seems pretty reasonable to me.
The taxi guys (not the drivers for the most part) are used to getting their way. They are used to cozy relationships with city halls all across America. What they aren’t used to is market pressure to increase the value of their service for their customers. Now, after years of neglect the taxi guys are complaining. Sorry guys.
I am personally on the record as agreeing with this sentiment. Legalization of cannabis nationally and then the state to state regulation of pot is the Constitutional position. It is the limited government position. There should be no federal prohibition of marijuana.
I recommend this book. It’s not all right but it explores some very important geopolitical and economic concepts. Stuff which is not usually discussed.
The bankers are all sighing with relief. It looks like they weathered yet another fit in the markets.
Is there a “Yellen put” in place? Yes. But more accurately it is a “Federal Reserve put.” It’s been around for quite a while. We don’t have real prices. We don’t have a real market.
Also one thing which is not really discussed often in depth is the degree to which the petrodollar plays into all of this. Oil goes down in price, the dollar typically goes higher (and vice versa, also oil is priced in dollars on the world market) and lower fuel prices juice the American economy. It may be that fracking, and the oil supply it has created (along with a Saudi Arabia which has turned on the spigots, likely to hammer the economies of Russia and Iran who are both hurt by a Saudi created glut) is actually the most important “monetary” tool right now.