The California high-speed rail project is full of waste, money grabs, and makes non-union construction workers pay for the pensions of of their unioned brethren.
Our public debt does have consequences. (Despite what many statist economists argue.)
The scam goes like this-
And like today, during the Great Depression government enabled monopolies in big business, which hurt the overall economy.
A very good (and brief) video from Prager University
So Biden’s economic advisor Jared Bernstein and David Frum, speech writer for George Bush have both come out railing against David Stockman and his new book. This is a shock.
Though the book is not perfect, it is one of the best books on economic history that I’ve read.
OK maybe it’s not a “complex” but it sure is a racket.
In this interview which first appeared at Alternet.com and was reposted at Salon.com Jim Chanos, famous for shorting Enron and highlighting the fraud at the firm, talks corporate fraud generally and crony capitalism. He makes a number of assertions worth considering regarding the dishonesty on Wall Street, and explains why short sellers are vital to the marketplace. He explains that all the big fraudsters taken down in the past 20 years have been taken down by short sellers or journalists or both,
He is dead on in his critique. As we say all the time here. It is not “Right” versus “Left.” It is not “business” versus “government.”
The real battle in American politics today is between those who are inclined toward freedom and free enterprise and those who believe in collectivism (in its many forms). It is between those who believe in “a better mouse trap” and those who believe in the blunt hammer of government power. It is a fight between those who believe liberty and freedom for everyone is an ideal for which this country should stand,
The article goes on to say that the bailout of Fannie Mae and Freddie Mac was good because it helped buoy the housing markets. It does say that the bailouts were not free of cost however because of the moral hazard the US government has enabled.
The article refers to the “Tea Party” as “far right” and I don’t think that is exactly right. But that aside, the article reflects the widespread dissatisfaction with the piece of legislation signed by the president.
It looks like the defense industry is having a pretty good sequester. Most of the big companies are beating the stock market average since the sequester began.
Another great one from Demonocracy.info
Source: Yahoo Finance
Another good one from Stockman. We’ll stop the parade o’ Stockman in a bit. In the meantime, enjoy.
Wind energy makes sense in some parts of the country. Areas of Texas, the front slope of the Rockies, a few other places. But in many other locations, places with lots of wind turbines, it does not.
About sums it up.