I just stumbled across this video I did 5 years ago. 5 years, man, seems like this morning practically.
Every time I see one of the posts I did back in those years I am reminded that for the most part I should probably stick to writing. But this one is pretty good.
Of course many people besides Congressman Hensarling are behind the effort to kill the Export-Import Bank of the United States, often called “Boeing’s Bank.” But he is leading the charge on the Hill.
China is the ultimate crony state and it may just export some (more) Sino-cronyism to our shores—well, California—soon. Cali wants a bullet train and China has the know how and the financing to build one.
If it’s the best product at the best price, hey have at it. Thing is, bullet train+California+China just has gigantic boondoggle written all over it. It will be a crony feast.
Technology and open sourced methods of organization—of people, money, and information—represent a real threat to the crony capitalist system.
Cronies are like mushrooms, they grow best in the dark. For too long Washington has been a dank cave of insider dealing and general corruption*. Money is made (legally stolen?) in the shadows.
Time for some sunshine.
Ron Paul has long been ahead of the curve. He anticipated the 2008 financial crisis. His “Ron Paul Revolution” was the seed which grew into the robust and mainstream libertarian tendency within the GOP we see today. And he was right on Iraq—it was a mistake of colossal proportions.
But while Ron Paul was predicting a Fed created economic catastrophe and outlining why it was that invading Iraq was wrong and indeed anathema to what America was supposed to stand for, the GOP was fully engaged in disavowing the spirit of Ronald Reagan (spirit) and embracing a big government philosophy.
The Bush years were years of big government “conservatism.” The neocon coup.
Iraq in many ways is what broke the modern—William F. Buckley, Jack Kemp, Ronald Reagan—conservative movement. Bush blew it up just like so many bridges across the Tigris.
Let’s be clear, socialism is fundamentally crony. It is a system of cronies helping other cronies to exploit any legitimate and real wealth there is. That is, until the wealth runs out.
Statism in all its forms is death. Communism, socialism, fascism, all the variants are death – for the economy sooner or later and in many instances for the people who live under such systems. (Sometimes, as in parts of Europe people just go into a kind of coma, like in Denmark for instance where socialism has slowly sapped the vigor of the people since World War II.)
It’s sad to see that 25 years after the fall of the Berlin Wall some still want to believe that reality can be denied. That markets aren’t just the way universe orders itself in economic terms. Markets are like water flowing downhill. Cities are like economic rain forests with millions of market microclimates and unique economic species. It’s a complex web, an ECOsystem. But socialists want to clear cut this beauty with the bulldozer of the state. All in the name of “social justice” of course.
It should also be noted that Mayor de Blasio who supported the communist regime in Nicaragua during the 1980s was probably not a happy guy when communism mercifully came crashing down around the world. That this fellow has anyone listening to him today is a crying shame.
This is good news for consumers. This is good news for cities. It’s bad news for the crony medallion systems and the insiders who benefited from these systems.
As I’ve written many times before, I grew up around the military industrial complex. I am a Navy brat and am still a Navy Football fan. (Pretty much the only team I care about these days.) I know the squeal of an F-14 as it banks in at sunset to land with its wings open. I can practically recite Top Gun to you. At one point I thought I might want to be a navy SEAL. My mother used to take us to the beach and we’d watch the giant hovercrafts ramp over the dunes. I used to go surfing right next to a gunnery range. (No joke. The break is called Pendleton and one could watch the shells splash into the water just to the south.) The point is when I post articles about the Military Industrial Complex I do not come from a position of ignorance. I do not come from a place of jaded familiarity either. But I am a tax payer. And it disturbs me that the weapons industry is the juggernaut of cronyism it is. It’s not healthy for our republic. To say the least.
It concerns me even more to think that war is perpetuated officially because behind the scenes powerful interests want to see warfare continue. I don’t want to believe that’s true. Most Americans don’t want to believe that’s true. And it may even be less true than many critics believe. But I think most informed individuals think that the MIC drives foreign policy at least to some extent. And even some is pretty messed up and not the way it should be in the United States.
George Stephanopoulos did of course work for Bill Clinton. That’s how he rose to fame and fortune. Now that he’s a well healed fixture of Washington it’s not surprising that he wrote a check to the organization.
But Stephanopoulos should have disclosed that he had donated to the Clinton Foundation prior to interviewing Peter Schweizer the author of Clinton Cash. And as an anchor at ABC should he really be giving any money to political organizations?
Stephanopoulos certainly should be barred form moderating any of the upcoming debates, that’s for sure.
A couple of years ago I spent an evening talking economics and entrepreneurship with the developer of the new gold backed cryptocurrency The Business Insider reports on below.
I’ll say this. Anthem is darn sharp and I love that he has named his currency the Hayek. He told me about this venture when we met and I am pleased to see that his dream has become reality.
A gold backed virtual currency is just smart.
I’ve known a few people in significant positions of power. Some in government. Some in business. The people I like(d) the most are the ones who despite their power are always conscious of the cost of things, either to the taxpayer or to their private employer. Chris Christie does not appear to have that frugal gene.
And I’m not saying that one must always fly coach or must refrain from a steak dinner. But $82,000 of the taxpayer’s money on football “concessions” in a year is a bit much.
Soon we‘ll find out who is the real revolutionary – Bob Marley
Russell Brand is a guy who understands about half as much as he thinks he does. Though we applaud his general political nonsense he advocates statism which only perpetuates the very corporatism he says he is against. In the end it seems that people like Brand just can’t get over the hump to realize that the voluntary exchange of goods and services is the most just way an economy (and world) can work. That capitalism itself is just, far more just than statism.
You want to actually make the world a better place Brand? Advocate for free markets, free banking, and a gold standard. Otherwise you’re just part of the problem.
And now he jacks Ron Paul’s (open sourced) logo with a TRADEMARK? Way to go dude. Go make some (fiat) money. These days one doesn’t even get 30 pieces of silver.
The prison industry is full of nastiness on all sides. The companies which run private prisons, the unions in these prisons and in state and federal prisons, the “drug warriors” from the Feds on down to the local cops. It’s an ecosystem of cronyism of vast proportions. There is a whole lot of money to be made in locking people up, especially when taxpayers are on the hook.
The only reason we highlight the following article is to show the hypocrisy of a community so often associated with big government advocacy and “environmentalism.” It’s pretty easy to be an environmental advocate (of the statist flavor) if one has the means by which to bypass the impact of regulation.
This bill is probably a step in the right direction, but the focus should be first on auditing the Fed under a bright burning magnesium fueled light. We need to know what’s really going on in the institution before we can chart the best way forward. Open the beast up. Let’s see what happened in 2008/2009 and during the QE binge. Then we can tinker, or hack away, or blow up as needed.
It should be noted that Senator Warren, who is co-sponsoring this legislation in the Senate with Senator Vitter, opposes an audit of the Fed.