For all the cronyism we have in the United States, and we have plenty and it is growing, Brazil is far beyond us. It is truly a crony capitalist state through and through. It has probably always been but the country’s recent socialist leaders haven’t helped things.
The TEA Party was, and sadly we must now use the past tense, a ray of light in a time of enveloping gloom. After the exasperation caused by George Bush and his profligate spending and foreign adventurism, the bailouts of the banks, and the ascendancy of Barack Obama who promised only more profligacy, people rose up and said – no more!
This was the TEA Party. TAXED – ENOUGH – ALREADY.
Most people who care tie its birth to the below rant by Rick Santelli on CNBC.
Everyone should have a summer home. In fact everyone should have a $600,000 summer home on Lake Champlain. Anything else would be unfair.
This particular video has nothing to do with cronyism, aside I suppose from the fact that these people have left the modern life loop which is so dominated by cronyism.
Most of us are caught up in the hustle and bustle of modern suburban and urban life and every once in a while it’s good to see that there are other ways of living. Often life change is just a matter of realizing what is possible. So I post.
This, dear readers, is how it works. The rules, as we saw with the Comey announcement a few weeks ago do not apply to everyone. Some people and banks are even too big to even embarrass or shame, never mind fail or jail.
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.
The split illustrated in this article is the same split I see in America generally. Those who have done well since 2008, people in banking, in government, teachers, academia, all areas of the economy which have benefited from our crony system (which exploits the middle class) seem to lean Hillary. Those who are on the outs in the crony economy tend to favor other candidates be they Trump, Johnson, Bernie, or now Jill Stein.
Remember Mr. Bailout, Mr.
It’s not just the Democratic convention. There’s plenty of this sort of thing going on at Republican get-togethers. However, this year, some corporations were afraid to associate themselves with Trump and so the parties at the RNC weren’t as good as usual by some accounts.
This one isn’t an uplifter but it is a sober assessment which deserves attention. Sobriety is a valuable thing, especially when dodging icebergs.
This is interesting. Trump is an unknown quantity. No one knows for sure what he’ll do, particularly the DC political class. As such Washington, an oddly conservative town in some ways seems to have picked its candidate. I’ll bet this number would have been more evenly split if say Bush had won the nomination.
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,
Europe and the UK are coming to terms with some big changes right now. Italy’s banks are in trouble. London’s insane property market may have snapped back to something closer to reality.
Reality can be a big bummer in finance.
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.