Crony Capitalism is a Feature (Not a Bug) of Obamacare

We have long asserted this. Obamacare is/was good for the insurance companies, the pharmaceutical companies, the drug stores, all sorts of large vested interests. The lobbyists for these interests wrote large pieces of the legislation.

Obamacare is a vehicle for cronyism. That is its nature. That is what makes Obamacare Obamacare.

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Barack Obama Will Be The Only President In History To Never Have A Year Of 3% GDP Growth

Wonder why a large part of the population is spitting mad? This is a big part of it.

Yet another indictment of Keynesian Kult nonsense. Had we let the markets clear post 2008, the stock market, the housing market, other markets, we would have had robust and real growth in relatively short order. People would have been able to build on honest to goodness, market for-realsies growth. But markets must clear for the economy to heal itself.

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Charles Hugh-Smith – Why Real Reform Is Impossible: We Can’t Believe the Mighty Titanic Could Actually Sink

This one isn’t an uplifter but it is a sober assessment which deserves attention. Sobriety is a valuable thing, especially when dodging icebergs.

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Bigger government does not mean more “social justice” in fact it often, usually, means the opposite

Socialism has a half life. Once honest to goodness socialism is instituted it is only a matter of time before the system implodes on itself. The primary factor in the speed of collapse is the amount of fat within an economy before massive state intervention and redistributionist policies. If the disease of socialism, hard core socialism, think the USSR, Cuba, North Korea, and even places like Venezuela, really takes hold, if the state assumes pretty much every aspect of the economy,

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TIME: Many Foods Subsidized By the Government Are Unhealthy (You don’t say…)

This is good to see from TIME. We’ve (along with others) made this point for years and it is such a waste. We subsidize unhealthy food, which benefits Big Ag – mostly corporate farming, which is then disseminated into the grocery buying public which is often subsidized through various means including food stamps, then when people get diabetes (and other diseases) after a lifetime of eating subsidized unhealthy food we subsidize their healthcare and disability payments. It’s a multilayered bologna sandwich of public policy dysfunction.

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The For-Profit Government Industry (How close Obama friends are about to cash in)

There is a whole group of folks in Washington and to a lesser extent outposts afield, and it is mostly Dems, who think that just because they hold “enlightened” attitudes about business that means they can engage in whatever cronyism they want. (Republicans do crony capitalism in slightly different ways and with less affectation in my experience than Democrats, though they are plenty prone just to be clear.)The Great Green Rush (of your tax dollars) during the beginning of Obama’s presidency is a good example of this.

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How much of US corporate profits comes from cronyism? Maybe a lot and growing

This is a big problem people. Businesses are increasingly getting addicted to the government extracted money which comes from you and me. (And from our children and their children’s children.) Good to see even the folks at Harvard getting hip to this. Now if we could just reduce the key to crony capitalism, the thing which insulates these businesses from competition and which costs consumers billions, crony government. (And really there is no other kind.)

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ObamaCare: A Crony Capitalist’s Best Friend

Indeed Obamacare is a massive, colossal vehicle for crony capitalism. We have maintained this from the very beginning of the program. It is full of sweetheart deals, exceptions for politically powerful groups, and most importantly nice fat revenue streams to the health care monolith. It should always be remembered that pharma and the insurance industry wrote big parts of Obamacare. It’s how the Dems bought off industry to squeeze in a highly partisan, hyper-partisan, piece of legislation.

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Too much is being made of The Economists crony-capitalism index

The man who founded the religion which gave crony capitalism a degree of respectability for too long. J.M. Keynes.

We absolutely agree. As we have said in the past the effort is laudable and we will continue to watch it. And it appears that the folks at The Economist are heading in the right direction. The most recent edition is much better than the initial effort for instance. Our hope is that this trend will continue.

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5 Things ACA Supporters Don’t Want You To Know About UnitedHealth’s Withdrawal From ObamaCare

D’oh.

In another life I was a property and casualty insurance underwriter. I would assess risk and figure out if premiums for a given area were enough or too much. Was the company too exposed to hurricane damage? What about earthquakes? Balancing risk with premium was the name of the game.

Given my background I have never understood how Obamacare was going to “work.” Obamacare seemed (and is) an adverse selection machine. The sick are more likely to sign up and the healthy have shied from the program for any number of reasons.

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