Lots of ouzo being partaken of in Greece these days, if people can even get money out of their accounts to buy the stuff.
The Ultimate Crony Capitalist State is feeling a bit unstable right now. Instability is the great enemy of the Chinese Communist Party. The market mechanism continues to bleed through all across the Chinese economy and Beijing is getting (more) nervous. The state “capitalism” miracle is looking a lot less miraculous these days.
The Chinese stock market is off over 20% since mid June. (Though still up more than that for the year.) A property bubble continues to pop. Exports have slowed. Change is in the air. Of course it’s been in the air before.
Now it looks like China may have deployed its own version of the “Plunge Protection Team” to hold back reality. Thing is reality is reality.
Gary Hart is a good big government liberal, with solid big government liberal credentials. And he is as fearful of the raging corrupt beast in Washington DC as any TEA Partier. Perhaps not quite.
Outrageous corruption in Washington is now legal. What once put elected officials in prison now is business as usual. DC is a hive of legal villainy. And if we don’t do something about it soon we are going to lose this precious thing. This unique flash of enlightenment. This anomaly in the experience of humankind. Our United States. Are we the generation which lets the American miracle descend into the mire?
This musn’t be. Not just for us, but also for millions and millions, billions, of people who look and have looked to the USA for leadership. The “shining light on the hill” is flickering.
Though we disagree with some (important) points here and there in this piece, generally it is good, especially considering Hart’s overall disposition toward large government.
He focuses only on corporate America however and as such he’s missing at least half the picture.
Hart’s broadly right though. Things are bad. We are flirting with real disaster. And sadly many of Hart’s buddies are the ones who put us on this path.
We’ve written about some smart TVs and their ability to essentially surveil your living room. But if you have Chromium installed on your laptop you may have to worry about your computer doing the same thing. (Not that it’s ONLY Chromium which can turn your device into a bug.) That Google is one of the largest defense contractors in the world and has encouraged the spread of this software is of some concern also.
TTIP (TransAtlantic Trade and Investment Partnership), TPP (TransPacific Partnership), TPA (Trade Promotion Authority, aka fast track authority), so many acronyms. It’s almost like they are confusing on purpose.
Think of the TTIP as the TPP for Europe.
Open this industry up. I don’t mean “deregulation” like in the 1970s. I mean let’s examine why it took forever for Virgin to get routes within the USA. (A fantastic airline by the way. I encourage anyone with the opportunity to fly Virgin to do it. It’s almost pleasant.) Let’s make it easier for international carriers to do business here. Let’s stop protecting the legacy carriers and start getting some of those lay down seats on domestic flights.
As the great economist Murray Rothbard observed, cartels and monopolies don’t last very long unless they are protected by the government.
Ron Paul calls out the Plunge Protection Team on CNBC. I don’t think I’ve ever heard it mentioned on financial television. Seriously anyway.
And boy is he right. There is an assumption that the Fed will never let stocks (and other assets) revert to real levels.
The thing is the Fed for all its power is still subject to the laws of thermodynamics, just like the rest of us. That is, even the mighty central bank will feel the sting of its hubris.
Of course so will the rest of the planet. Which let me tell you is a real bummer.
Some surprises here. Did not know that Long and Foster, a real estate broker was the largest business in Virginia.
I like Mike Rowe and I like his general philosophy of work. His perspective dovetails with a quote which has long stuck with me from Ted Nugent of all people, who said that a (not the) key to success was to find something one is good at that ads value to other people’s lives. Then develop that skill. If one can do this one can probably make a living and might even achieve something extraordinary.
As our regular readers know I am generally loathe to post articles which use the terms “right-wing” or “left-wing”. We need to get away from that. However in this case I will happily make an exception.
Let’s hope so. But the “bank” isn’t dead until its dead. So let’s make sure it’s dead. The lobbyists will try to revive the thing once it’s in the grave too by getting allies to attach the reauthorization of Boeing’s Bank to other legislation. We must make sure they (particularly some big government Republicans in the Senate) don’t do that.
It is a crying shame that this country started down the socialized medicine road under LBJ. The introduction of government into healthcare was probably one of the 5 worst decisions we have made policy-wise as a country. And now we’ve doubled down with the crony capitalist Obamacare.
Who would want to become a doctor these days? The pay has been good. But the debt on the way to that pay is significant for most. And there is the very real possibility that salaries and fees for doctors will be federally regulated – down – at some point anyway. Throw in acres of paperwork, kilometers of red tape, and all this while working for a massive government connected healthcare company which controls your paycheck?
It won’t take long for “the best and the brightest” to adjust their career preferences. It’s probably happening already.
Who cares that he bold faced lied for years and years over and over glomming onto a war story to look like a big shot and disrespecting the people who protected him in Iraq in the process? No big deal. Give the guy another show. The American people love a good liar.
China, despite what you may have heard is NOT now a capitalist country. It is a crony capitalist country. The chief cronies are the members of the old Communist Party.
The Chinese economy is one in which prices are often set by decree, as such there are massive inefficiencies in the system. This is not healthy, and it is destabilizing. The Chinese crony corps knows that there are serious problems with the economy and society, especially as China is witness to its first real economic slowdown in 3 decades. As such the party is reasserting itself to sure up its position.