And then the obvious question is – “Where do the central bankers get all this money?”
Only a few people think about that, and half of the people thinking about it don’t care that this “money” comes from nowhere. All they care about is the next quarter, the next day, the next tick, whatever helps them trough their withdrawal.
Rest assured that none of the $7 billion dollars went directly to war lords and other avowed enemies of the United States. I am sure the money didn’t go to fund new “deep wells” which enable poppy cultivation in previously inhospitable places, or to finance the transport of heroin into Europe, China, and North America.
Nope. That money, that taxpayer money, was money well spent.
Click here for the article.
Crony capitalism is deep in the DNA of both major parties. Republicans do it. Democrats do it. This is a case in point.
GM is a cronyism vortex. The closer one gets to the company the stronger the crony force is. Taxpayer dollars disappear into it and are gone forever. Common sense too. The free market and genuine innovation? They long ago passed over the event horizon.
The “plunge protection team” (PPT) used to be something which was whispered about. Now it’s openly discussed in the New York Post. Hell will become a frost covered plain before the New York Times will ever mention the PPT of course.
As I have written before, there is an understanding among traders post-2008. If the market heads into a nose dive the Fed will intervene. It will actively buy futures (and likely whatever else it has to) in the market to buoy the market.
The PPT is kind of like the Israeli nuclear program. No one acknowledges it officially but almost everyone thinks it exists and as such this impacts markets.
It does. I thought everyone knew that already.
The Rams are threatening to move back to LA?
I just got used to them in Saint Louis.
As we’ve said before, for many pro sports is a religion. As such the fervor and irrational behavior of adherents to the creed are manipulated by the people who run the show. Just like any religion.
This isn’t new but it deserves attention. Much of life, and especially political life is engaged in online these days. It’s no surprise that the government is interested in controlling what goes on there.
Government isn’t all bad. A very small and generally limited one can make some sense. I will even go so far as to say that a very modest taxpayer supported safety net for the truly indigent is OK if for whatever reason a private net does not exist. (I think that it would generally however in a very small government world, but that is for another post.) But government is at best, at best, a necessary evil. It is never something to be celebrated, but we unfortunately have celebrated government for far too long in this country.
If you live in a wealthy part of the country it is very likely that you are represented in Congress by a Democrat. Often a very “liberal” Democrat. Why is this?
Socialism is inherently a crony capitalist system. Basically a true socialist state is a uni-corporate entity. It is a monopoly (more or less) of goods and services (and most importantly force) where the cronies control the means of production. The Soviet Union for instance was basically one giant, very poorly run corporation which killed (often literally) any competitors which challenged it.