Some CEOs don’t like that cronyism is increasingly under the microscope

“The precipitousness of the political debate is a little scary right now,” said Jim McNerney, who served as chief executive of Boeing Co. until last year and as chairman until February, at a recent industry conference.

“Anti-business” and “anti-market” are 2 very different things.

Many feel frustrated these days. There is the sense that there is an agenda and that everyday people are not part of that agenda.

Many people have been under considerable economic pressure since the Crash in 2008,

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How White Castle Will Adjust to a $15 Minimum Wage in New York

The effort to increase the minimum wage is driven by a mix of economic ignorance, self interested unions which will benefit from such an increase (dues, adjustments to other contracts etc.) and good old political opportunism.

Some will never understand (or prefer not to understand) that the business owner provides a service which has value in the marketplace. A business preforms or it goes out of business.

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Ignorance reigns on Twitter yesterday, #Resistcapitalism trends, Cluelessness abounds

If you are “resisting capitalism” you are “resisting human progress.” You are resisting the voluntary exchange of goods and services. You are resisting opportunity for people to make a better life for themselves through hard work. You are trading that opportunity for a system which rewards the uncreative and unambitious. (And perhaps you understand this.) You are fundamentally resisting FREEDOM and LIBERTY, because “economic liberty,” the right to do what you want with that which you own, is not separate from social FREEDOM and LIBERTY.

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Obama: Forget The Difference Between Capitalism And Communism

“It’s cool. The ball games are free.”

He basically makes the case that most moderately left Americans have made since the fall of the Soviet Union. And it is actually a pro-crony capitalism case. Yes capitalism can generate wealth, but it must be mitigated by government controls in the name of “fairness.” Best to have planners manipulating markets for “social justice” reasons. We can’t simply let the market do its thing. That’s dangerous.

Balderdash. Markets empower the poor and the middle class.

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Why socialism always fails

And they failed…But not before killing millions of people first. Either directly or through the implementation of terrible economic programs.

It’s important to understand that crony capitalism, the partnering of special interests with government to amass wealth for the partnering entities is a form of socialism. Crony capitalism does not work if there isn’t a government to hand out cash and influence. Government is cronyism’s catalyst.

The bigger the state, the regulations, the favoritism, the programs, the tax burden,

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Faber: Central banks will create global socialism

They actually already have plenty of socialism.

He makes a good point. The next economic downturn is likely to be nastier than the last and in an effort to “save” the world central banks will probably buy up everything in free fall, bonds, stocks, real estate. It is sad that we are talking about such a scenario. The statists think there is nothing to hold them back.

This is socialism which will help the asseted, the rich. A deeply crony economy.

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Another bit of the college bubble pops: Ernst and Young says hires no longer need a college degree, ‘no evidence’ university equals success

Recently Penguin Publishing did the same thing and the “no college required” trend is a trend which is picking up steam in the working world. It’s about time. There are many qualified candidates out there who are marginalized simply because they lack a college degree.

As we’ve said before, college can hold much value. It was valuable for me that is for sure. However, the cult of college has long been out of control. Many many people who go to college these days shouldn’t really be there.

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Recession Already Reality in Spots From West Virginia to Wyoming

I am sorry but we can’t help reposting this tweet from the president from last week.

We also can’t help posting this graphic from last year.

Pay attention to what the graphs actually say and what the measurements are, but it is pretty clear, even before the likes of Bloomberg and CNBC started talking about a looming recession a recession was looming.

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The world can’t afford another financial crash – it could destroy capitalism as we know it

This is an issue which we need to revisit soon, and we will at greater length. And there is is some validity to this fear.

First, the Crash of 2008 was a crash caused by central planning. It was the Federal Reserve which created the necessary climate for the Crash. The planners screwed up royally. They kept interest rates too low for too long and everyone came to believe that there was a “Greenspan Put” built into the stock market.

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New Republic: Ayn Rand Made Me a Communist

I am not a Randian. I am more of the Murray Rothbard school of politics. A school which though libertarian is noticeably, and famously (in some circles anyway) not Randian.

But I have respect for Ayn Rand and her Objectivist movement. I was honored to speak at the Crony Awards which were sponsored by the Atlas Society, an Objectivist organization last summer. One would be hard pressed to find a group of smarter people on average.

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Sanders Camp: Microsoft working with DNC in Iowa, Can caucus app be trusted?

Image: Twitter

The Sanders folks are wise to keep a particularly close watch on how votes are tabulated in Iowa, of course. But they are also right to concern themselves with the involvement of Microsoft in the Iowa caucuses. Could Microsoft influence the results?

It seems very unlikely. But one can never be too sure, particularly when going up against a candidate like Hillary Clinton in whom many very powerful interests have invested. Politics can be a darn nasty business.

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