It seems fairly obvious that it would not. It is very hard for a large business to remain a dominant player without gifts from the government. Big business is not enamored with the free markets libertarians advocate. In a free market big businesses are constantly sniped at by smaller but more nimble competitors. Smaller newer companies are hungrier and usually have newer equipment. They often have fresher personnel. Free markets make life hard for big business.
Attached is a a bit of market based white lightning. It’s not for everyone.
In the wake of the housing crash, wide swathes of the desert Southwest, Florida, Atlanta, parts of California, and other places were littered with relatively new homes which were empty. The pre-seeded lawn turf often hadn’t even taken root before the foreclosures began.
Each vacant home represented a personal economic disaster for someone. Families moved in with grandparents. Pets were left in shelters which were filled far beyond capacity. It was only a couple of years ago. For many the memory is still very fresh.
But at about the same time parts of Tuscon started to be reclaimed by tumbleweeds a few hedge funds (and banks) figured that there was yield to be made from renting the homes which were now unused back to the people who could no longer afford to own them. If the homes could be pooled along with the rents, perhaps the investments could even be sold as derivatives.
Market solution right?
I am all for the liberalization of marijuana laws, as I have written many times before. The prohibition of cannabis is simply wrong in my estimation for a number of reasons, not the least of which is that it is a crony capitalist construct. For years millions (really billions) have been made off of keeping weed illegal. From prison unions to Big Pharma lots of interests wanted to keep the inexpensive, relatively innocuous drug in the illegal category. I think legalization of pot is a good thing.
It’s time for the former head of America’s central bank to make bank.
I’d encourage everyone to read the attached article because it is a lovely example of the infatuation some people have with their masters. Actually that’s not fair. The guy makes plenty of good points from the progressive perspective. All the ones one would expect. We wouldn’t have any roads without government. (We would.) We’d all die from salmonella poisoning without the government. (We wouldn’t) Society would devolve into a scene from Mad Max where kids with mohawks marauded through the mall with chainsaws. (It wouldn’t.) All the ones one would expect.
Public pensions are really a joke in many parts of the country. In Chicago, Detroit, California, New York and many other places the economy is saddled with completely unrealistic pension “obligations.” The benefits are just too rich for the people who must now pay for pension plans negotiated by union friendly politicians in years past.
Well, it seems that the good g-men at the SEC, the folks who pursue insider trading, might be moving on insider information themselves. I am shocked! Shocked!
I have to admit, I once bought a new car. I was in my mid-20s. I had no children. I still didn’t know the fun of a mortgage. The car was blisteringly fast and I like cars which go fast. So I bought one fresh and new. I shouldn’t have.