Of course many people besides Congressman Hensarling are behind the effort to kill the Export-Import Bank of the United States, often called “Boeing’s Bank.” But he is leading the charge on the Hill.
Some of our older readers might not like this one. Thing is, it’s true.
This is a huge piece of legislation. The administration (and many others) want a simple up or down vote on the treaty and no debate (or amendments) in Congress. Obama would prefer the TPP pass before we get to see what’s in it. Some in Congress are saying that they don’t want to do that again.
China is the ultimate crony state and it may just export some (more) Sino-cronyism to our shores—well, California—soon. Cali wants a bullet train and China has the know how and the financing to build one.
If it’s the best product at the best price, hey have at it. Thing is, bullet train+California+China just has gigantic boondoggle written all over it. It will be a crony feast.
OK, Boeing has every right to go wherever it chooses as far as I’m concerned but this sort of posturing should be kept in mind when it comes time to award defense contracts. Basically the company is holding a gun on some members of congress and demanding money from the taxpayers—or else. This kind of behavior should not be rewarded.
For those who don’t remember the massive (and we mean massive) LIBOR manipulation scandal from a few years back (the reason UBS is now paying a fine) here’s a short video explaining what essentially went on.
The unions don’t like it. Many libertarians and free market types don’t like it. But Obama and the Chamber of Commerce are keen. Something smells here.
Something else to keep in mind. Just because something is called free trade doesn’t mean it actually is free trade. My bet, and the author alludes to this, is that the agreement will be full of crony nooks and crannies. Nooks and crannies some would prefer the public not learn about.
Until it’s too late.
Ron Paul has long been ahead of the curve. He anticipated the 2008 financial crisis. His “Ron Paul Revolution” was the seed which grew into the robust and mainstream libertarian tendency within the GOP we see today. And he was right on Iraq—it was a mistake of colossal proportions.
But while Ron Paul was predicting a Fed created economic catastrophe and outlining why it was that invading Iraq was wrong and indeed anathema to what America was supposed to stand for, the GOP was fully engaged in disavowing the spirit of Ronald Reagan (spirit) and embracing a big government philosophy.
The Bush years were years of big government “conservatism.” The neocon coup.
Iraq in many ways is what broke the modern—William F. Buckley, Jack Kemp, Ronald Reagan—conservative movement. Bush blew it up just like so many bridges across the Tigris.
Indeed it does as we said a few weeks ago. Someone can make it profitable. The transportation equation is very different from when Amtrak was created. The highways are more full. Plane travel is a much bigger hassle. A private Amtrak can work.
Let’s be clear, socialism is fundamentally crony. It is a system of cronies helping other cronies to exploit any legitimate and real wealth there is. That is, until the wealth runs out.
Statism in all its forms is death. Communism, socialism, fascism, all the variants are death – for the economy sooner or later and in many instances for the people who live under such systems. (Sometimes, as in parts of Europe people just go into a kind of coma, like in Denmark for instance where socialism has slowly sapped the vigor of the people since World War II.)
It’s sad to see that 25 years after the fall of the Berlin Wall some still want to believe that reality can be denied. That markets aren’t just the way universe orders itself in economic terms. Markets are like water flowing downhill. Cities are like economic rain forests with millions of market microclimates and unique economic species. It’s a complex web, an ECOsystem. But socialists want to clear cut this beauty with the bulldozer of the state. All in the name of “social justice” of course.
It should also be noted that Mayor de Blasio who supported the communist regime in Nicaragua during the 1980s was probably not a happy guy when communism mercifully came crashing down around the world. That this fellow has anyone listening to him today is a crying shame.
Crony capitalism is bipartisan, transpartisan even.
Though there is a general rule which holds, and that is that the degree to which a politician enables the state is the degree to which that politician will probably enable cronyism. The bigger the government the more crony the government. It’s just the way it is.
The only real way to fight crony capitalism is to lesson the catalyst which makes crony capitalism possible, government. There is no “electing good people” to government and then having a large government “work for the people.” Government corrupts. It is at best a necessary evil. For the most part, get it out of the way.
As I’ve written many times before, I grew up around the military industrial complex. I am a Navy brat and am still a Navy Football fan. (Pretty much the only team I care about these days.) I know the squeal of an F-14 as it banks in at sunset to land with its wings open. I can practically recite Top Gun to you. At one point I thought I might want to be a navy SEAL. My mother used to take us to the beach and we’d watch the giant hovercrafts ramp over the dunes. I used to go surfing right next to a gunnery range. (No joke. The break is called Pendleton and one could watch the shells splash into the water just to the south.) The point is when I post articles about the Military Industrial Complex I do not come from a position of ignorance. I do not come from a place of jaded familiarity either. But I am a tax payer. And it disturbs me that the weapons industry is the juggernaut of cronyism it is. It’s not healthy for our republic. To say the least.
It concerns me even more to think that war is perpetuated officially because behind the scenes powerful interests want to see warfare continue. I don’t want to believe that’s true. Most Americans don’t want to believe that’s true. And it may even be less true than many critics believe. But I think most informed individuals think that the MIC drives foreign policy at least to some extent. And even some is pretty messed up and not the way it should be in the United States.
If you are an employer with over 500 employees in Connecticut and you hire someone for less than $15/hr you must now pay a tax of one dollar for each hour your employee works.
It’s a shakedown from the state wrapped in the banner of “wage justice.” It’s a revenue stream for government and another barrier to employment for low skilled workers.
Just another reason people and business continue to leave the Northeast.
Gotta keep that taxpayer money spigot flowing. Defense is big government too.