Fannie Mae and Freddie Mac, one of America’s most crony couples.
I have to admit I do love the gull wing doors. However the last taxpayer backed car with gull wing doors didn’t do so well.
We’ve said before that Elon Musk isn’t a crony king (other people hold that crown) but more of a crony prince. But he is a crony to be sure (no matter how much good press he gets) as many of his most famous endeavors hinge on government (taxpayer) funding. Tesla,
Indeed it is. Central planning always fails and make no mistake in many ways our economic system is “planned.” Not in the sense that it was planned in the Soviet Union but planned and controlled by the Federal Reserve through the manipulation of interest rates. The Fed creates malinvestment by trying to juice the economy. People over invest with cheap credit on office buildings, homes, cars, infrastructure projects and so on. Then when the reality of the economy hits this juiced economic situation failure occurs broadly.
“You will report the reality the Communist Party says is reality. Everything’s fine. Everything’s great. There’s no “hard landing”. Right?
That’s what we thought.”
Certainly is true with health care.
One can not blame these people. Call them internal economic refugees. It’s not unlike other parts of the United States where big local government and unsustainable patronage structures have collapsed. Puerto Rico is kind of like Detroit with palm trees in many respects.
The solution for Puerto Rico is similar to the solution for Detroit too. Basically they need to come to terms with default. The massive government employee system has to implode and a new economy, a free market,
This guy (or someone like him) should set up one of these in Washington DC. I’ll bet it would do serious business. No joke. I’d go on it and I go to DC all the time. Just start at the Watergate and work one’s way to the Capitol.
As for Chicago it’s pretty amazing the amount of corruption which comes from the place. Some people even believe that Nixon would have been president in 1960 if it were not for vote rigging in the city.
Funny how socialism makes one appreciate the finer things in life, like simple price discovery.
No one in Washington really seems to care about reining in the size of government. (There is a tiny minority.) The Dems want welfare and corporate welfare. The Republicans want corporate welfare and “defense” spending. There is no real effort to save money for the taxpayers. And the thing is many supposed small government “conservatives” give “defense” a pass on spending. Much of the military is chock full of boondoggles. Anyone who has been around the military (and I am a Navy brat) knows this.
Leaked to whom?
Savers, you can forget about opting out of the stock market. If you want any kind of return you will get in the market and you will like it. So what if artificially repressed rates are crushing you? So what? Do you think you matter? Most of you savers will be dead soon anyway. You and your bank CDs. How quaint. Now pony up and buy some more stock grandma. Oh I’m sorry? You think there’s too much risk in the market?
The refrain from politicians and Wall Street has now become all too familiar.
Bail us out or the world will blow up! Financial dysfunction will catch like wildfire. If you don’t give us piles and piles of money (taxpayer money of course) you may just wake up to a world which is a smoldering cinder. It will be Mad Max in the streets. The sun will go down and never come up. In short, do YOU Mr.
(From The Investors Business Daily)
Puerto Rico, an awkward legacy of America’s 1898 testosterone spill, the Spanish-American War, is about to teach two things that few Americans know: If conditions get bad enough there, its residents, who are American citizens, can come here. And if Congress does not deal carefully with the mess made by the government in San Juan, Congress will find itself rescuing governments in Springfield, Ill., and other state capitals…
…But some Democrats — perhaps anticipating a day of reckoning for their one-party state of Illinois,
Dun, dun, duuuunnnn….