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Tag Archives: economics

US spends $7 billion to eradicate opium crop, Crop 50% bigger in 2014 than in 2012

Rest assured that none of the $7 billion dollars went directly to war lords and other avowed enemies of the United States. I am sure the money didn’t go to fund new “deep wells” which enable poppy cultivation in previously inhospitable places, or to finance the transport of heroin into Europe, China, and North America.

Nope. That money, that taxpayer money, was money well spent.

Click here for the article.

GOP Michigan Governor bans Tesla direct sales, GM smiles

Crony capitalism is deep in the DNA of both major parties. Republicans do it. Democrats do it. This is a case in point.

GM is a cronyism vortex. The closer one gets to the company the stronger the crony force is. Taxpayer dollars disappear into it and are gone forever. Common sense too. The free market and genuine innovation? They long ago passed over the event horizon.

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The market is rigged? No : ‘Plunge protection’ behind market’s sudden recovery

The “plunge protection team” (PPT) used to be something which was whispered about. Now it’s openly discussed in the New York Post. Hell will become a frost covered plain before the New York Times  will ever mention the PPT of course.

As I have written before, there is an understanding among traders post-2008. If the market heads into a nose dive the Fed will intervene. It will actively buy futures (and likely whatever else it has to) in the market to buoy the market.

The PPT is kind of like the Israeli nuclear program. No one acknowledges it officially but almost everyone thinks it exists and as such this impacts markets.

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The crony casino move against online gambling

Gambling is not a particularly good thing. But it is something which millions, if not billions of people enjoy responsibly. Many of those people go to casinos now. The casinos however are afraid that if gambling is legalized online in the USA many of those customers will never again walk through casino doors. As such the gambling industry has mounted an anti-online gambling campaign in Congress.

But the tack the casinos have taken is just insulting. Their argument is that online gambling will increase moral depravity and encourage the vice. The CASINOS are making this case.

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Ending Crony Capitalism in the Michigan Live Entertainment and Sports Industries

By Andrew Langer

A coalition of Michigan sports fans, consumer groups, and free market advocates are locked in a battle over the right to resell tickets. Michigan is one of the few states that still prohibits consumers from reselling their tickets on the secondary market for more than face value, without the venue’s permission.

In addition to representing a gross interference by the government in the free market, the 83 year old law has enabled big ticket companies like Ticketmaster and StubHub to create a state-sanctioned monopoly on reselling tickets for more than face value.

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Time to reduce economic dependence on Pentagon spending

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. – Dwight D. Eisenhower

Indeed, it’s long past time.

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Ebola Comes to America: Krugman & Stiglitz Must Be Delighted

Paul Krugman is famous for having said essentially that one of the ways the US could pull itself out of the current recession/depression is by mobilizing for an alien invasion. A War of the Worlds would do the trick. Everyone could build space ships and laser guns and whatever to fight the otherworldly menace. Stimulus. Full employment!

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