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Tag Archives: regulation

Former Maryland Gov explains that the idea that crony capitalism hurts the poor and middle class is “bull—-“

Governor O’Malley it should be noted wants to be the president of the United States of America. Though he has not officially announced he may challenge Hillary Clinton for the Democratic nomination.

Consider for a second how flatly ignorant this statement is;

“But it is not true that regulation holds poor people down or regulation keeps middle class from advancing. That’s kind of patently bullshit.”

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(The statists are really getting scared now) Salon: America’s libertarian freakshow – Inside the free-market fetish of Rand Paul & Ted Cruz

Let’s get one thing out of the way. Both Paul and and Cruz are libertarianish. Paul more libertarianish than Cruz. Neither however is really pushing a hard core liberty oriented agenda.

In the attached article Paul and Cruz aren’t the real focus anyway. Crony capitalism is.

The author tries to make the argument that crony capitalism is what capitalism actually is. There is no distinction between capitalism partnered with the state and capitalism in general. It’s the same phenomenon.

This is the argument that many big government people try to make all the time on this site, because it is what fits the statist worldview. It is what people have been taught all their lives. I was certainly taught this.

On one side are the “progressives,” owners of progress, good government, making the world better and more fair. On the other side there are the “capitalists” monsters of greed and exploitation. Angels and demons.

This worldview is as simple as it is simple minded.

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Big Business’s powerful wingman (Government)

Many people wrongly believe that politics is to a large extent a battle between government and business. That the 2 represent opposite dispositions. This is a foolish notion. Business and government are more often partners than adversaries. Especially now.

But crony capitalism has a long history in this country.

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How Government-Imposed ‘Net Neutrality’ Is Recipe for Crony Capitalism

This is such an annoying topic in a couple respects. 1 because “Net neutrality” is basically a done deal unless the courts rip it apart. But either way its out of the public’s hands. And 2 because a large number of smart people are convinced that “Net neutrality” is actually net neutrality. It’s like the Patriot Act circa 2002. No one could see that the Patriot Act wasn’t actually patriotic. Well, some folks did but they weren’t listened to at the time.

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An Oscar-winning actor’s fight against the minimum wage. (It’s Tim “red” Robbins, yeah I know)

Hey, good for him. He’s arguing against a push by the Actors’ Equity Association, to impose a minimum wage on small theaters. These theaters are basically volunteer operations, many showing old movies for a handful of people a showing. Places, usually tucked away in college towns and hip neighborhoods where one can see Gone With the Wind, The Rocky Horror Picture ShowFantasia, or Doctor Zhivago* on the big screen.

But these theaters might disappear overnight if the AEA gets its way. Robbins understands this.

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Crony marijuana in Ohio, Cartelization in the legal pot market

The good news is that Ohio may soon legalize the recreational use of cannabis. This is a huge step forward for personal liberty and common sense generally. No one should be going to jail for weed.

But there is a fly in the hash oil. If the new law in Ohio passes, and it likely will, only a few select marijuana “investors” will have the right to grow the plant for profit. Essentially Ohio will create a cartel for weed and that certainly is NOT progress.

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Washington Times: Blue-state businesses on endangered species list

I hate the whole “blue state”/”red state” nonsense. Cuba and North Korea are “red states” not Texas. And the color blue is traditionally a conservative color not one associated with the “Left.” For some reason the colors the networks designated as indicating whether a state voted for one party or the other flipped in 1992 with the election of Bill Clinton.

That aside, let’s move on.

One of the most shared posts we’ve had during the last couple of weeks was on the widespread closing of Seattle eateries due to an increase in the minimum wage in the city.

It’s an important story. Raise the minimum wage too much, (try to) negate the price mechanism for wages and watch margins erode or disappear, along with businesses and jobs. The cost of food at the remaining restaurants goes up and becomes a luxury item. Meanwhile low skill workers must now move out of the city to make ends meet. It’s a disaster with far reaching ripple effects.

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Rents that make the brain bleed in San Francisco: $5,295/month for a one bedroom apartment?

This picture was just too good not to share.

I quite like San Francisco. I have a client out there and for the past 4 years I’ve spent a week in the city (and around it) in June. I wouldn’t say that I’ve left my heart there, or that I could ever imagine living in the place, but it has a certain foggy, pot odored, good beer doused charm. I respect the place even though it has a road, I’m not kidding, named Nancy Pelosi Drive.

But the cost of living there is mind blowing. The city makes life very difficult for landlords to evict anyone and as such forces landlords to inflate rental rates to compensate for the risk. Also the city won’t allow much in the way of new development. There is a huge potential market for new apartments in Frisco but the city fathers (and mothers) would rather preserve the nasty parts of town I guess. And there ARE nasty parts of town. Too many new, young, more or less rich folks moving in might shake up the local politics a bit too much.

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New Poll: Obama Aids Rich, Not Middle Class

One doesn’t need a poll to see this. During the Obama presidency the rich have done quite well. The so called “underclass” has been largely placated. (Obama got rid of Clinton era “workfare” for instance making welfare a “life choice” again.) But the middle class, the core of America, has been hurt. There is simply no denying it. (I mean one can, but one would be wrong.)

It’s not entirely Obama’s fault. He is only a part of the puzzle, if a big part.The Federal Reserve has fundamentally undermined the economy. It has rewarded those who already had assets before the 2008 Crash with an inflated stock market. Those without assets, or those whose only “asset” is their home? Well, too bad so sad.

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Bitcoin poker exec: “I was led out in handcuffs in my underwear”

Poker is a game that I think most people should learn to play. I am not suggesting that everyone sit down at a Vegas table and start betting. By no means. Unless you have a burning desire to lose money. But learning the rules of the game and how it works is very beneficial. The lessons I’ve learned while playing poker (I haven’t played in years) have served me well. It’s too bad our government(s) has such a problem with the game.

In fairness this fellow may have broken the law. But should law enforcement really make busting up poker websites a priority? Seems odd in a “free country.”

It’s poker.

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