We at ACC are for capitalism because it is a liberating force. It makes lives better. It provides opportunity. It offers escape from despair.
Obamacare, more than anything is a big giveaway to the health insurance industry. It’s a crony capitalist scheme to its core and more people (and entire states) are coming to realize this.
The Obama administration thought it could buy off industry and it did. But industry did not anticipate how incompetent this administration was. It bought the show and dazzle.
This week Senator Rand Paul, who is likely running for president, suggested that Congress act to pass legislation which would declare Detroit an economic “freedom zone.” That is to lower taxes in Detroit to near 0% levels spurring business activity and development.
We at Against Crony Capitalism wholeheartedly agree with this idea. We even called for something similar last year. Unleash the market in Detroit and the city will bloom.
Few cities have been as ravaged by inept governing and crony capitalism as Detroit has. Because of decades of mismanagement and neglect what was once one of the great cities of the world is now a rusting heap. But it need not remain so.
80 years ago today alcohol became legal again in the United States. Truly a day to celebrate.
The lead singer of U2 is absolutely correct.
I think Ron Paul would agree with me that the Fed has been doing a pretty good job of destroying the dollar all by itself. Bitcoin could be a watershed however.
The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.
I have to say that I was saddened by Pope Francis’s recent assertion that “rampant capitalism” is a source of many of the world’s ills.
We’ve written about this in the past. The most important industry in the USA, also the least regulated (go figure) is tech. Technology companies thrive on innovation and beating each other to market. Historically tech, based on the other side of the country from Washington DC, has been a fairly free market. There is a reason why the price of computing comes down every single month and the quality goes up. The power the average person holds in his or her hand when they glance down at their iPhone is well beyond what a computer the size of a city block could do a generation ago. This is because of a relatively free market and very limited government influence.
What a great movie this is. Welcome to the world of crony capitalism in full bloom.