So the I guess the Fed needs to start thinking about cutting rates right? No one can afford monthly payments because rates are too high right? But they are as low practically as they have ever been you say? Uh oh, what does that mean?
Washington and the Fed think they can plan out society. That they can manipulate the levers of the economy to elicit positive outcomes (mostly for them). That leaving the world to the “whims of the marketplace” is madness. That dispassionate managers (no one is dispassionate, especially political managers) can and will make the world anew. There is no God. Government is God and it will giveth and taketh as it pleases.
The National Review’s Jonah Goldberg argues that what is called the American “Left” will never really fight crony capitalism. That what the progressives actually want is not the separation of business and the state but business which will do as it is told. Business as junior partner to the government. A lapdog.
Is he right?
Dodd-Frank, though passed 4 years ago in the wake of the Crash still isn’t even half written. It may never be fully written. As we speak regulators write new rules and regs with help from the financial industry of course. “It’s a living document.” Sigh.
At best we have been treading water since 2008. Check that, we’ve been treading water while the tide continues, unrelentingly to go out.
You cannot do business anonymously any more. There must be a trail for every transaction lest some amount of money escapes the clutches of the managers. There must be control.
Bitcoin directly challenges the current banking system. That’s why the banks (via friends in Albany) are trying to shackle it down with regs.
The market keeps going up so things are good right?
Is he right?
To be fair the Republicans have been the party of big business and big government for a long time too.
But for all the talk of “ending corporate welfare” we’ve heard over the years from the Democrats it sure is disappointing to see how quickly the Dems have abandoned this rhetoric to defend the billion dollar, taxpayer funded corporate slush fund which is the Export-Import Bank of the United States, aka “Boeing’s Bank.”