Eternal vigilance as they say. We need to keep our eyes open and trained on Washington. An important victory for free speech and the American people.
Some of our older readers might not like this one. Thing is, it’s true.
Because people who typically go into government are power hungry control freaks who have something to prove to their dads, the elementary school bullies they grew up with or both. That’s my theory.
It’s not just that regs kill innovation and slow commerce, (And not ALL regulation is bad. I’m OK with not selling booze to 4th graders, and licenses – though they could be non-government certifications – for brain surgery.) it’s that companies often partner with the regulators to shut out competition or flat out siphon money from the taxpayer.
Like Hillary Clinton Ms. Fiorina is the only woman running for the presidential nomination in her party. But that’s pretty much where the similarities stop, as Edward Hudgins reports.
We’re not referring to Sacramento…Da dum dum. We are referring to Governor Brown’s “behest payments.” Money which is given to the governor which he can then distribute to the charities of his choosing. So far it’s been a banner year for such payments.
We’ll see. But we are very pleased that crony capitalism has emerged as a key issue in the 2016 presidential race. It is one which we obviously believe is of vital importance.
GE got caught with its pants down. It over leveraged itself like much of Wall Street before the 2008 Crash and then begged Hank Paulson in Bush’s Treasury to save the company from its bad bets. Which Paulson did – or rather WE did. Now, fully indemnified and then some, GE is getting rid of its financial division. Exiting the scene free and clear. No problem. No pain. Everything’s fine. No Thank You to the taxpayers.
This is an odd video. Jeh Johnson is testifying before the Senate and he looks like he’s really not ready for prime time. I’m not saying that he is being a typical bureaucrat hiding behind legalese and talking in circles as is typical in these situations. I’m saying that the video is difficult to watch without cringing because Jeh Johnson does not appear to have a full grasp of the subject matter on which he is testifying. And he is the head of the Department of Homeland Security.
Given the amount of power at the fellow’s fingertips this should concern all of us.
This is how it’s done folks. Regulate your competition away. Enjoy fattened bottom lines courtesy of your sponsored politicians in Washington.
Of course consumers have fewer choices, overall quality is likely diminished, entrepreneurs go out of business, and employees lose jobs. But hey, it’s a crony world. You actually thought you’d get a fair shot? Ha! You’ve got a lot to learn my soap making friend.
The US Chamber of Commerce loudly proclaims that it operates in the “spirit of free enterprise.” Sadly that is not true.
The Chamber is beginning to show its true colors as a truly anti-crony lobby gains strength in Washington and in the country generally. Some of the enemies of crony capitalism are Republicans. One such Republican is Congressman Jeff Sessions, who wants to end the Export-Import Bank, “Boeing’s Bank.” This annoys the Chamber which wants to make sure that taxpayers continue to subsidize loans for its client(s).
The supposed champion of “the spirit of free enterprise” even ranked Harry Reid, Harry Reid, ahead of Congressman Sessions (someone who appears to actually believe in the spirit of free enterprise) on its scorecard.
Big political shifts are happening.
In the attached article Kevin D. Williamson associates functionality and competence a little too closely with Republicans. Saying this his analysis otherwise is right on.
What we saw in Baltimore this week is a symptom of big government urban politics. Why are places like Detroit, much of Chicago, St. Louis, Philly, still large parts of New York, Atlanta, Richmond, a good part of Washington DC, and dozens more cities so poor and so dysfunctional? Largely (but not solely), because in these places the reality of the marketplace is not embraced. (At least not the legal marketplace.)
Why do businesses leave these cities? For many reasons. But a big part is because taxes are too high in major cities, almost across the board. Or perhaps like Seattle the minimum wage is being pushed up to levels which are divorced from reality, which also acts as a tax. There is a reason some cities feel like skeletons, because the business community long ago was picked clean. Urban America killed the goose that laid the golden tax base egg. Now it wonders why all the jobs are gone.
The simple fact is that a minimum wage which is completely divorced from the natural wage rate will cause havoc all through the economy. People will lose hours and jobs. Businesses will go out of business. People will leave for lack of jobs. Lives will be disrupted.
I wish this wasn’t the case. But it is.