Excellent article! But look who wrote it!
In his Washington Post article, Summers argues for capitalism operating under a rule of law that applies to everyone, not a capitalism that is based on “deals” with government. We agree. The only problem is that coming from Summers it is the height of hypocrisy.
Summers favors policies that put government more and more in control of the economy, which is a sure recipe for crony capitalism.
By RON PAUL
Former Dallas Federal Reserve Bank President Richard Fisher recently gave a speech identifying the Federal Reserve’s easy money/low interest rate policies as a source of the public anger that propelled Donald Trump into the White House. Mr. Fisher is certainly correct that the Fed’s policies have “skewered” the middle class. However, the problem is not specific Fed policies, but the very system of fiat currency managed by a secretive central bank.
Federal Reserve-generated increases in money supply cause economic inequality.
These United States.
India’s decision to ban Rupee notes above 500 has become the financial media’s topic du jour.
However, India is in fact just the latest in a series of countries to ban physical cash in higher denominations.
The war on cash has been going on since at least 2014 if not earlier.
To that end, France has banned any transaction over €1,000 Euros from using physical cash.
It’s not just the Rust Belt and California that have issues with municipal pensions. Dallas, deep in the heart of Texas is in the midst of a full blown crisis. And this is really saying something as Dallas is a vital and growing city with lots of prospects.
But the promises made to to municipal employees were too much and now threaten to bankrupt the city. Promises were made by politicians based on unrealistic investment returns and now as the baby boomers hit the retirement rolls the money is simply running out.
Is there anything more important in our time than reversing the march of the statists, the people who would regulate everything and game the government for themselves and for their allies. Perhaps not, at least in the political sense.
The only way to truly fight crony capitalism, to fight the entrenched neo-aristocracy, is to make the state weaker. More regulation isn’t going to solve the problem. That is, frankly, a foolish dream. The powers that be like regulations.
You have probably seen the list of “fake news sites” created by Merrimack College assistant professor Melissa Zimdars that has been making the rounds. But it isn’t a list of “fake news” sites, it is a list of sites that challenge the official narratives put forth by outfits like The New York Times and PBS. At least this is true for many of the sites.
For instance sites like Zerohedge and LewRockwell.com were both on the list which is total nonsense.
The possibility of having a Supreme Court Justice who is explicitly against crony capitalism, for property rights, and for human liberty is a tantalizing prospect.
Below The Texas Observer introduces Don Willett to the non-legal non-Texas world. Known for his sense of humor, his extensive social media following (at least for a judge), his transpartisan friendships, sharp mind, and commitment to liberty, the current Texas Supreme Court Justice could usher in a new era for the Court.
The central banks want your cash. And the “cops” want the data that comes with a cashless society.
This is the last thing I’m going to post on Bannon for a while. But the attacks have been so vicious I think this post is worth posting.
It is from Breitbart, Bannon’s old website, but in this case I don’t think it really matters.
The reason the establishment is going after Bannon is because he’s good at what he does. That is brawling with the powers that be. He also tends to win.
Below is part of the transcript from Bannon’s 2014 talk. The rest of the transcript is linked below.
The Obama administration told New Balance to to stop complaining about the TPP. In return New Balance would get a (crony) contract to provide sneakers for the military. Then the Obama administration went back on that deal even though New Balance kept quiet. No wonder the shoe company is happy with a new direction for the country.
Saying that, live by the crony sword, die by the crony sword.
According to Trump’s 7 point plan for the first 100 days he wants to institute a requirement that;
“for every new federal regulation, two existing regulations must be eliminated.”
In Canada they did something similar recently (though it was only one regulation removed for each one created) and a few months ago ACC argued that we should try a similar tack in the USA. ACC would have been happy with a 1 for 1,