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Tag Archives: Congress

Dividing the spoil$ (In the new Congress)

This essay is pretty good with a couple of important exceptions.

Even though Moyers and Winship take the Dems to task for being a part of the crony capitalist game in Washington DC they still clearly see the Dems as preferable to the GOP which they refer to as the Guardians of Privilege. Though there is some truth to this jab the Dems are absolutely a party of privilege also, perhaps even worse than the GOP. That said, both parties are terrible.

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Why the New York Fed Annoys Republicans and Democrats Alike

By far the most secret and least accountable operation of the federal government is not, as one might expect, the CIA, DIA, or some other super-secret intelligence agency. The CIA and other intelligence operations are under control of the Congress. They are accountable: a Congressional committee supervises these operations, controls their budgets, and is informed of their covert activities. It is true that the committee hearings and activities are closed to the public; but at least the people’s representatives in Congress insure some accountability for these secret agencies.
It is little known, however, that there is a federal agency that tops the others in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise, its operations. The Federal Reserve, virtually in total control of the nation’s vital monetary system, is accountable to nobody – and this strange situation, if acknowledged at all, is invariably trumpeted as a virtue. – Murray N. Rothbard from The Case Against the Fed

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Chief Executive Magazine: Why Crony Capitalism Hurts Us All

C.J. Prince, the author of this article does an excellent job of examining crony capitalism and the associated dangers to the economy. Crony capitalism does indeed hurt us all. Even Boeing and GE will likely be hurt in the long run. If the USA becomes a truly cronyist economy growth will limp along (if we are lucky), dynamism within the economy will suffer from lack of oxygen, wealth will slowly erode away from the middle class, and we will wake up one day and find ourselves outclassed by freer economies in other parts of the world.

The American Dream is being chased out of America by the cronies.

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Ebola and CDC: Distrust of White House (and government generally) grows

Government isn’t all bad. A very small and generally limited one can make some sense. I will even go so far as to say that a very modest taxpayer supported safety net for the truly indigent is OK if for whatever reason a private net does not exist. (I think that it would generally however in a very small government world, but that is for another post.) But government is at best, at best, a necessary evil. It is never something to be celebrated, but we unfortunately have celebrated government for far too long in this country.

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The (all too) Sane Case for Auditing the Fed

By far the most secret and least accountable operation of the federal government is not, as one might expect, the CIA, DIA, or some other super-secret intelligence agency. The CIA and other intelligence operations are under control of the Congress. They are accountable: a Congressional committee supervises these operations, controls their budgets, and is informed of their covert activities. It is true that the committee hearings and activities are closed to the public; but at least the people’s representatives in Congress insure some accountability for these secret agencies.

It is little known, however, that there is a federal agency that tops the others in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise, its operations. The Federal Reserve, virtually in total control of the nation’s vital monetary system, is accountable to nobody – and this strange situation, if acknowledged at all, is invariably trumpeted as a virtue. – Murray Rothbard from (the original) Case Against the Federal Reserve

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Ex-Im to finance $1B Mexican oil and gas deal (Ha ha suckers!)

There is absolutely no legitimate reason why this deal is being done through the Ex-Im Bank. None. It is simply a gift to the state Mexican oil company and the American contractors which will supply Pemex. That’s it. This deal could easily have been done through private banks. But hey, if you can get the US taxpayers to subsidize a credit line why not get them to do it?

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