This week Senator Rand Paul, who is likely running for president, suggested that Congress act to pass legislation which would declare Detroit an economic “freedom zone.” That is to lower taxes in Detroit to near 0% levels spurring business activity and development.
We at Against Crony Capitalism wholeheartedly agree with this idea. We even called for something similar last year. Unleash the market in Detroit and the city will bloom.
Few cities have been as ravaged by inept governing and crony capitalism as Detroit has. Because of decades of mismanagement and neglect what was once one of the great cities of the world is now a rusting heap. But it need not remain so.
Everywhere Boeing goes subsidies follow. Without fail. In defense, in commercial aircraft, it doesn’t matter. It almost appears that subsidies are built fundamentally into Boeing’s business plan.
80 years ago today alcohol became legal again in the United States. Truly a day to celebrate.
I am convinced that many municipal, state and federal workers have no actual idea how good they have it. That is why they always seem to be complaining about their pay. Many must just be clueless. In most cases government jobs are jobs for life, benefits are far above the private sector, and pay usually is too.
Everybody is supposed to just muddle through because the Obama administration insisted on starting Obamacare before people realized how bad it was. Now we know, but the administration thinks it can keep the program alive because the ball is (barely) rolling. (And which way?)
Now the insurers are supposed to issue policies without the promised subsidies because there is no way for the government to pay the insurers in Obamacare. The mechanism wasn’t built into the program.
Big business still likes many Republicans, don’t worry. But Dorfman is right, big business sees real opportunity in partnering with big government and is increasingly doing so. You know like in 1920s Italy.
The political and banking classes both demand easy money right now. (They always want it.) Print more and more money and the world will continue on as it has (limping that is) for the past 5 years. This is the “new normal.” Sure it’s corrupt, sure it’s counterfeiting, sure it encourages unsound economic and political decisions, but hey we need to do what we need to do.
The Federal Reserve just grows and grows. Born in 1913, 100 years later it sits atop world finance the unrivaled master of what it surveys. And the master likes to know whats going on in his kingdom.
The railroads and the government have been weary partners from the earliest days. This is nothing new, but the railroads shouldn’t brag about how they aren’t on the take.