As we’ve said before – there will be wins and losses with Trump.
“I will have in my race more than $100 million put in of my money, meaning I’m not taking all of this big money from all of these different corporations like she’s doing,” Trump said at the debate. “What I ask is this. I’m putting in more, by the time it’s finished, I’ll have more than $100 million invested. Pretty much self-funding.” -Donald Trump
One of the great appeals for many with Trump was his assertion that he was “self funding”
Hernando de Soto (the author of the below article) is someone anyone who cares about trade, the betterment of the world, and the rule of law must read. His thinking on property rights and regulation has influenced my thinking on such issues deeply. And indeed in the attached article, and yet again, Sr. de Soto is correct. It isn’t global trade that hurts people. Far from it. It’s that some people, cronies, benefit from the global trade regimes negotiated in places like Vienna,
Going forward the Trump needs to be held accountable. With properties and projects around the world there are and will be many opportunities for crony capitalism to sprout within the new administration. It is incumbent upon those of us who believe in free markets and a non-crony economic system to hold the new administration’s feet to the fire. Cutting the federal workforce is excellent. Handing out subsidies to favored businesses would be very very bad.
Trump has an historic opportunity to rise above the crony temptations which are now laid out before him.
If Trump is serious about draining the swamp he’s got to consider how his outside business dealings, including the dealings of close family, reflect on this effort. With power comes the temptation to line one’s pockets. Best to erect firewalls so that this temptation is mitigated to the largest extent possible. Even if Mr. Trump isn’t interested in engaging in crony capitalism there are going to be people around him, there always are, who will be interested. Best to just avoid future headaches.
The central banks want your cash. And the “cops” want the data that comes with a cashless society.
Football was the only sport I was ever really good at and I used to love it. (Though I abandoned playing by junior high.)
I was a pretty good soccer player. I loved and love surfing, though at my very best I still wasn’t an “A” or even “B+” level surfer. I’m a reasonably good golfer. I used to play a lot of tennis. But football was the only sport where there was even the glimmer of something extraordinary for me.
We don’t call it “mutant capitalism,” we call it crony capitalism. But the main point made in the attached article is vitally important.
What many young people know as “capitalism” is not capitalism. They’ve known only crony capitalism. Many young people have never seen a world in which the economy was allowed to breathe and one where people were generally free to start businesses and carve out a claim while helping fulfill the needs and desires of their fellow humans.
The CFPB is/was housed within the Federal Reserve. The funding for the CFPB comes/came from the Federal Reserve. That’s a problem as Congress is the entity which is to allocate money for such programs.
This is Versailles.
I am extremely fortunate to be able to do what I do for a living. Most of the time I get to write about the news and work on other business projects from my base in the Shire of the Blue Ridge. Broadband is a beautiful thing. But every once in a while I leave the shire and go into Washington DC for meetings.
I enjoy going believe it or not. There are many interesting and smart people who live and work there.
Federal Reserve “independence” is a convenient untruth for the Fed and for many in the Washington political class. The Fed is absolutely influenced by politics. This is evident even to the fairly casual observer.
(From The Dallas News)
Carnegie Mellon University’s Allan Meltzer, a distinguished monetary economist, had this to say about Fed policy during the crisis: “Under Mr. Bernanke, the Fed has sacrificed its independence and become the monetary arm of the Treasury.”…
…Bernanke’s Fed seemed to care just as much about the health of prestigious financial houses as the state of the economy.
The minimum wage debate is one we’ve covered closely here at ACC. One of the primary reasons is we know that a significant increase in the minimum wage above the market rate for unskilled labor will result in job losses. No one wants job losses.
But even though a significant minimum wage increase would pretty obviously put some people out of work, reduce hours for others, and force some businesses to just close up shop, there are those who have continued to push for a higher wage.