Fox’s Charles Payne: “The Problem of Crony Capitalism” (Video)

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Charles Payne gives a great speech on crony capitalism at Hillsdale College. Definitely a good one to listen to on the commute home today. It’s chock full of  crony capitalism nuggets.

Plus he gives a nod to this site in the middle of the speech too.

The Index Of Cronyism By ‘The Economist': A Call For Improvement

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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.

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Amazon-CIA $600 Million Deal Facing Scrutiny: ‘What’s the CIA Doing on Amazon’s Cloud?’

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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.

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Taxi Association President Compares UberX To ISIS Terrorists

Philly ccThis is almost as bad as the taxi association guy in Chicago who threatened to out local gay alderman if they voted to let Uber operate within the city.

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.

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If Republicans really want limited government they should support marijuana legalization

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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.

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Fed Ending QE Is Not the End of Easy Money (And welcome to “easy oil.”)

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.

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.

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