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Tag Archives: economy

Millennials Favor Private Accounts for Social Security Even if Benefit Cuts to Current Seniors Required

Look, I think there should be a phase out of the old system over say 10 years.

Older people have made calculations with the idea that Social Security would be there forever as it is now. Most people are not economists. They just did their thing in their working life and then retired as they were told they should. If we are going to change social security we should be sensitive to this very important (and very political) point.

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Partisan Press Cover-ups of Crony Capitalism Part of The Problem

The Fed’s Consumer Financial Protection Bureau is a crony capitalist’s dream, but don’t expect to read about it in the press, especially in Bloomberg.

In the story below, a Bloomberg reporter refuses to acknowledge that the Consumer Financial Protection Bureau is renting space from an Obama bundler (major fundraiser) while its boondoggle building is being built.

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Medical Care Cronies Not on Same Page

The American Medical Association claims to represent doctors. But it is very much part of the crony coalition which put together the broad outlines of Obamacare in meetings inside the White House. In return for going along with the government, the association receives most of its funding from a medical coding monopoly granted and protected by the Department of Health and Human Services.

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The only way back to an honest economy: A new gold standard

Gold is honest money. Gold has been valued throughout the millennia at roughly the same real amount. The old example is that the cost of a nice tunic and a good pair of sandals in Jesus’ time was roughly an ounce of gold. In 1900 the cost of a nice suit and a good pair of shoes was roughly an ounce of gold. Now, today, at $1300/ounce this example still holds. The real value of gold has of course varied a little over time. A little bit up, and a little bit down, but generally gold is a steady Eddie when valued in real goods (not dollars).

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Crony Capitalism Pays Well For Rent-Seeking CEOs

Crony capitalism works great for the cronies. The executives at companies which secure government privilege often benefit handsomely. But according to a new study from the Mercatus Center workers at these privileged companies do not benefit very much if at all from the largesse. Most of the taxpayer money is captured by the upper echelons of management.

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Nirvana’s Krist Novoselic on Punk, Politics, & Why He Dumped the Dems (Great Video)

Novoselic was the bassist in the biggest band of my youth, Nirvana. I always kind of liked the guy despite what I thought were his statist leanings.

But what do you know?  He has eschewed a lot of these tendencies for real DIY politics. For honest punk politics. Free thinking politics. In many ways free market politics. I like the guy a bit more now and I am interested in learning more about his efforts to reform our electoral system.

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Tim Carney: The Democrats are the party of Big Business and Big Government.

To be fair the Republicans have been the party of big business and big government for a long time too.

But for all the talk of “ending corporate welfare” we’ve heard over the years from the Democrats it sure is disappointing to see how quickly the Dems have abandoned this rhetoric to defend the billion dollar, taxpayer funded corporate slush fund which is the Export-Import Bank of the United States, aka “Boeing’s Bank.”

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