And the drug companies would lose money too as the author of the attached article points out.
The great disconnect continues. Those who are tapped into the (crony) financialized system have seen their stocks and bonds do well as the market has ridden a Federal Reserve created bubble. Those who do not have assets, or only real estate assets, (unless they have nice arable farmland) have fallen behind. It’s a case of the rich getting richer and the poor getting poorer, but the situation has been exacerbated by the central bank experiments of the last 6 years.
There are so many tragedies associated with the VA medical system. Imagine being a vet who had to rely on the VA to survive. It’s easy for us to poo poo the corruption at the agency but I imagine it’s something very different when one is sitting in a wheelchair staring at where one’s legs used to be, all the while knowing that the VA system is a den of dysfunction. Not very encouraging.
Both major parties are corporatist parties and both have been for a long time. But Dems seem to be signalling that they are interested in cozying up even closer to crony corporate America.
Think we’re being over the top here? We’re not.
I always have to laugh when people talk about how the “free market” has failed etc. etc. We don’t have a free market. We have a deeply regulated and highly crony market. Where the market is actually allowed to work it works. But in most of the economy planners plan and parasites suck the vitality out everything. It’s hard for a dog to be healthy if it’s racked by worms, fleas, and ticks.
Look, this comes from John Oliver who has no love for libertarians or objectivists. (At least as far as I can tell.) Saying that I am still a fan and every once in a while when his statism doesn’t get in the way he shines a bright light on a subject in a humorous way. His breakdown of foreign military aid to Egypt was fantastic for instance.
His effort here is less fantastic. It’s basically a semi-funny hit piece on Ayn Rand. However, it is informative (if obviously biased) and I think our readers will enjoy it, both those who are pro-Rand and those who don’t like her.
And we’re not talking about Al Gore. (Forgive me the joke wake just teed up.)
Tim Berners-Lee has called for an Internet “Magna Carta” for cyberspace.
The idea that schools are supposed to serve students first and teachers second doesn’t seem like a radical idea. Let’s be frank, for pretty much everyone this is just assumed. But it is NOT assumed by the teacher’s unions, especially in California where they have a stranglehold on the system.
One of the problems with the attached article is that it implies that the reason Goldman pulled the things it did and does is because the Federal Reserve, the regulator, wasn’t and isn’t strong enough to curtail Goldman’s power.
The Fed is plenty strong. Far too strong in fact. What the author doesn’t appear to get is that in this instance we don’t have a case of “regulatory capture” per se. The Fed doesn’t kowtow to Goldman Sachs. The Fed and Goldman, and JP Morgan etc., are partners and always have been.