The times they are a changin’ and they are a changin’ in jolly old England.
Well this is interesting. And as you can see all the major news outlets are all over this one.
Corporate America is doing a full press in DC right now, even during the lazy days of the Congressional summer recess. The big boys don’t want the Export-Import Bank, the taxpayer backed corporate slush fund, to go away. Congress may stop funding it in September. If Congress does stop funding Ex-Im it will be a major win for everyday Americans and it will be a real loss for the crony capitalists.
Though the President called the Export-Import Bank of the United States “corporate welfare” when he ran for president, his message has changed. Many of his former staffers are pro-Ex-Im too as the attached report outlines. Who followed whom is unclear.
The one and only time I met Ron Paul was in his office in DC in 2007. I had long admired him and I had come to pitch Dr. Paul on becoming a client of mine. I was a fledgling stock broker and I thought I might be able to interest him in some gold stocks.
What’s funny is that as soon as I walked through the door of his office and he and I sat down I forgot all about doing business and we just talked politics and strategy for about 20-25 minutes.
I left his office with a deepened respect for the man. Something which rarely happens (I now know) after meeting a politician in person.
I don’t agree with everything John Tamny writes but boy does he hit the target in this piece.
For as long as there have been “leaders” they have lived off of the wealth created by their subjects, or in some cases – citizens. But people forget (or simply don’t know) how well the political class lives and how little regard is given by those who owe their livelihoods to taxpayers to the taxpayers.
I wouldn’t say everything. We’ve had a very nice summer in Virginia. Not too hot. Kind of what I imagine Summer in Ithaca New York is like.
But it’s true. On the political and economic front things just don’t look good.
The barbarians are now inside the gates and things are absolutely changing. What is happening in Los Angeles is happening across the country. The libertarians are driving the GOP toward a more across the board small government philosophy. They are making big government conservatives uneasy and changing the dynamics of the American 2 party system.
I actually don’t think libertarian politics needs to be vindicated. It is the future. At least for a large part of the electorate.
Amash is the real deal. He explains each vote he makes on Facebook. He is an ardent critic of big government and of crony capitalism specifically. He is staring down Karl Rove and his money machine in a primary battle as I write this. He was once called an “asshole” by Speaker Boehner. What is NOT to like about this guy?
The Export-Import Bank has hit some rough waters. There is a reasonable chance the taxpayer funded corporate slush fund could be abolished. The boondoggle could die. I put the odds at 50/50. We’ll find out in September. If it is ended it would be a significant win for those who are fighting crony capitalism.
An old libertarian friend of mine used to make the point when we discussed the expansion of the state (which was often) that parasites tend not to kill their hosts. Bureaucrats and the political class tend not to kill the productive sector of the economy completely. If the apparatchiks did, they’d die too.
But the operative word here is “tend.” Sometimes parasites do kill their hosts. Sometimes the short term gain is so sweet, or leadership is so inept, that the parasites lose control of themselves. Think Detroit.