Oh Jet City. Where did you go wrong? It started long before the minimum wage hike. Probably even before Eddie Vedder.
It’s not supposed to be like this. What with the central planners of the Chinese Communist Party in charge. And yet like pretty much every really big government regime outside of the tiny Nordic countries (and even there sometimes) there is massive pollution.
In socialist countries the planners call the shots, and despite what many of our “progressive” friends might think, those in government don’t typically have “the public” in mind. This is the great myth. It’s as obvious as the smog hanging in the Beijing sky.
Notice that there was no celebratory “Google doodle” yesterday.
Consider that one of the classic forms of “welfare” in this country is also absolutely a form of corporate welfare too – food stamps. Many big corporations owe a large part of their bottom lines to these programs. In some places one can even buy McDonalds and other fast food directly with EBT cards. Years ago we did a story on how JPMorgan has EBT servicing contracts with states worth hundreds of millions of dollars.
Add in Walmart and other discount stores that see immense flows from government programs and one begins to see the picture.
Is inequality bad? It is assumed that it is for some reason. And to the degree that it is caused by the already powerful gaming the system it is absolutely a problem and one we examine closely here. (That the big banks have access to the Fed window and that the Fed backstops the bankers is a good example of unjust inequality of wealth.) But what of an inventor who made the world a better place? Should a person or company who cures cancer for instance feel bad in any way about the vast sums which would likely follow such a cure?
Both the current president Rousseff Dilma and the former president Lula da Silva, both of the socialist Worker Party, have been caught (it appears according to a publicly released wire tap) colluding to avoid justice. People spilled into the streets last night, again, to demand Dilma’s and now Lula’s head.
Just a few years ago both leaders were darlings of the Chavista (and socialist) inspired “Pink Tide” in South America. That tide has clearly turned. But it has not taken Dilma out to sea –
I despise parking tickets primarily because they are such a racket. Washington DC, the major city in which I drive regularly collects tens of millions of dollars in parking ticket fines each year. If one visits DC keep an eye out for the folks in the red jackets. They’ll answer your questions and give you directions but they are also patrolling the streets looking to fine drivers.
I’ll grant you that there are legitimate reasons for parking tickets.
Wouldn’t that be great? Porsches for everyone! Well, not really. Perhaps some groceries in most cases.
An interesting little experiment. We’re guessing that the interns at Bloomberg needed something to do one afternoon.
The way out of poverty is through capitalism, free enterprise, free markets, and free prices. But so many people who I believe honestly want to do good do not understand this. They believe that central planning and aid from “rich countries” will solve the world’s problems even though they have only worsened things in aggregate around the world for decades.
Where poor people can build wealth and enjoy property rights and honest pricing the tendency is toward prosperity.
The state would prefer to keep the capitalists down on the bottom. Innovators make things uncomfortable for the powerful and connected.
Ms. Pelosi has played the crony capitalism game well. The way she sees it – I promise you this is how she sees it – she’s just doing well, while doing good.
It’s the tune of many a crony.
“See, it’s OK that I live like this, even though I rail against the ‘rich,’ because I am one of the good guys. I’m for more money for welfare, and all sorts of other government programs to help the peasantry…
What to do when the law is lawless?
I did not grow up with money. But I did work in finance for years and I have known a number of people with significant wealth. I also live in an old money town, Charlottesville, Virginia.
There is an adage about significant wealth which I think holds generally true and that is that “old money” is smaller than “new money.”
Often with older money there is some patriarch a few generations ago who made a pile of cash in some endeavor,