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Tag Archives: City of London

Carnival Against Capitalism in London, Should Be Against “Crony Capitalism.”

People are chaining themselves to barricades and waving red flags in the streets of London in protest of the G8 talks. The protest has been called a “carnival against capitalism.” Sadly these folks do not understand the vital difference between “capitalism” which is voluntary and provides opportunity for those not blessed with access to the modern aristocracy, and “crony capitalism” where the state is hijacked by the powerful to line their pockets and consolidate power.

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EU Hedge Fund Manager Bonus Caps May Actually Make Things Worse.

Anyone who has read us for very long knows that we give bankers a hard time, often. The financial industry, especially the big banks, is rife with crony capitalism. The big banks are arguably the biggest crony capitalists of them all, and the corruption which comes with a Wall Street/Washington DC axis must be dealt with. It is vital for the future of our economy. Ending the Fed would be a good start.

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