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Category Archives: Crony Capitalism

Food and beverage powerhouses spend big money on lobbying. Companies like Chipotle and Whole Foods don’t

This reminds me of another article which we ran years ago about Apple. The article was also from Politico and basically amounted to a warning to the profitable company – “Throw some money to the lobbyists, or else.”

This article isn’t as heavy handed, indeed it may be a straight report, not a threat.

But that some of these newer, more innovative food companies are not “paying to play” clearly irks some within the Washington political class.

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No question that “low interest rates have exacerbated the wealth gap between the poor and the rich because the rich have assets.”

Michael Bloomberg said this recently and he is right. If one had assets prior to 2008, particularly of the stock variety, there is a very good chance that your portfolio is looking pretty good these days. The Fed through various means has inflated markets artificially.

If however one had no assets prior to 2008, or went bust during the chaos of the Crash one is probably still struggling.

The Fed, the central planners, have made the rich much richer. (For the time being.) It wasn’t free market capitalism which did this.

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This is interesting, Head of Democratic Party can’t explain difference between “a Democrat and a socialist.” (VIDEO)

“I used to think there was a big difference.” – Chris Matthews

To be fair Debbie isn’t really running things. She has bosses who determine direction. But even still.

Kudos to Chris Matthews for a good question.

Bernie is pushing the Dems in interesting directions and creating contrasts and shadows where there weren’t ones before.

Trump is doing similar things in the GOP.

Fun to watch.

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Cabbies (likely cabbies) go berserk in Mexico City, attacking Uber drivers (Video)

The enemies of progress (real progress) always lash out when bested. They fear the market. They fear the free flow of prices and the competition it brings.

Things change. Buggy whip companies go bust. So do cab companies. Sorry, my suggestion is that you learn how to do a better job than the Uber drivers.

Most of us over the age of 35 have seen massive changes to our livelihoods. I certainly have. This is the nature of the economy. Thankfully a changing economy is also an economy which is full of new opportunities.

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Boo hoo, Boeing cries over potential loss of taxpayer underwritten bank, Threatens to move many operations overseas?

OK, so you lose Ex-Im and the sweetheart deal which goes with it. So you decide to take your ball and go play – wherever – outside of the United States. Fine.

But it seems reasonable then, going forward, not to award Boeing any lucrative military projects. That’s only fair. Go live off the Swedish taxpayers. They like socialism.

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BET Reports: Black Teens Are Fired When the Minimum Wage Rises

As we’ve argued many times before, arbitrarily raising the minimum wage, particularly to a level which is far above the real wage rate is an idiotic move. It creates unemployment for low wage earners, and in many cases for the people who formerly employed low wage earners. A “living wage” sounds nice. It sells to economically unsophisticated people. But a job doesn’t suddenly become “worth” more just because the government declares that it is. One can not revoke gravity. Likewise one can not revoke supply and demand.

Magic is not real, no matter what the politicians say.

This is an old article, but given the current debate it is worthy of a post.

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How People Outpace Politicians

(From FEE)

Maybe there was a time when the political culture seemed to keep up with the pace of innovation. If so, those times are long gone. The rhetoric of electoral politics is exposing the great rift in civic life.

The tools we use every day, the technologies we love, the way we engage each other, the means by which our lives are improving are a consequences of innovation, markets, community, and globalization — that is, by the interactions of free people. Not by politics. And not by the systems politics creates.

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The CTA Empire Strikes Back

By Ed Ring, executive director, California Policy Center

Emperor Palpatine: There is a great disturbance in the Force.
Darth Vader: I have felt it.
Emperor Palpatine: We have a new enemy, the young Rebel…
Darth Vader: How is that possible?
Emperor Palpatine: Search your feelings, Lord Vader. You know it to be true. He could destroy us. The Force is strong with him.
– Quote (edited for brevity) from Star Wars Episode V: The Empire Strikes Back, 1980

There are indeed great disturbances in the force. There are indeed challenges to the imperial monopoly that, for nearly 40 years, has eroded the quality and escalated the costs for California’s system of public K-12 education. And the imperial stormtroopers who enforce their educational edicts on California’s state legislature, its thousands of public school boards, and by extension, millions of parents and children, are all part of an evil empire called the California Teachers Association, or CTA. In plain English, the teachers union.

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Market Manipulation Goes Global (Are you prepared for a hubris driven downdraft?)

It hasn’t GONE global. Its long been global and on a massive scale. But China is freaking people out.

Play this game if you want. But understand that it is a game which is run by cronies, for cronies, and that cronies are very fallible. Can you handle the kind of downdraft which may come when reality catches up with the hubris of central bankers?

It’s an important question, and one which should be asked when things (in the USA) are still relatively calm.

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