Where capitalism has been allowed to thrive it has pulled the world along. We are in the midst of a micro-entrepreneurial revolution facilitated in large part by technology which is cheap and powerful. Please notice how technology is one of the least regulated sectors of the world economy. At least it is right now.
More people think like producers these days than probably ever before. They think more like owners than as employees. This is a very good thing for the economy if we allow the revolution to bloom.
Interesting essay from Dan Collins at Conservativecommune.com, and he’s just about right.
Private industry has been informed that it is now under the power of the state. The government can compel industry to do it’s will pretty much without restriction now. “Private enterprise” in this country is being destroyed. (Though it can be revived with lots of hard work.)
The bailouts have benefited those closest to the fiat money spigots. Those in banking and in government around the world have seen their wealth rocket up thanks to loose money from the central banks. Times have been very good for the connected, and they’re buying mansions hand over fist in South Florida turning that fiat money into little pieces of coconut palm lined paradise.
Now comes a new bailout for our lucky friends who may not now have to pay market rates for insurance premiums. In Florida and many other places this is serious money, which will soon be the responsibility of the US taxpayer.
Currently congresspeople and their staffs have 75% of their premiums paid for by the taxpayer. The plans they enjoy are also top notch. Top top notch.
But because of the way Obamacare was written, the law we needed to pass before we knew what was in it, lawmakers and their aides are about to be thrown into the vortex of the Obamacare healthcare “exchanges.” And guess what? They don’t wan’t to go down the hole.
Now, it’s perfectly OK for the average American to deal with this nightmare.
There is a chill moving through markets right now. The great central bank experiment of the last 5 years (the acute version) is misfiring again. As they say – you can’t get something for nothing, and the experiment which has failed the lower and middle classes of the Western world is now failing the monied classes. At least at this moment and in Japan. The markets which were feeling pretty good about themselves (for the most part, though Japan has had significant volatility recently) aren’t feeling so good.
The world is coming to terms with the possible end of QE, and like a heroin addict who’s methadone prescription may soon run out, markets are getting very nervous.
Of course they are hostile. Many establishment “leaders” have long Oked the NSA spying program. They know potentially that the public outrage associated with the scandal could affect them and their election prospects.