The word “cascade” comes to mind. China is the world’s second largest economy. The continued crash has real implications for the rest of the world economically and probably politically. What those implications are at his point we do not know but it is certainly time now to keep one’s eyes on the horizon.
The Export-Import Bank (Ex-Im) provided millions of dollars in financing to a Miami small business perpetrating a Ponzi scheme, according to a recent report by the Department of Justice (DOJ). The business had already defrauded private lenders out of $8 million in loans and used $2 million in Ex-Im financing to pay off these lenders and continue their scam.
The business, run by three family members defrauded private lenders out of millions of dollars by creating fictitious invoices for the sale of merchandise that never occurred.
An interesting and somewhat desperate statement on corruption from a fan big government in Salon.
Thing is, as we say often, government is inherently corrupt. One can’t just get “good people” into office and then things will change. Government must itself be reduced.
Yes this means that many big modern liberal dreams must be abandoned.
I do not write this flippantly. I understand that this would constitute a political sea change.
Ralph Nader is one our favorites here at ACC. We disagree with him on a myriad of issues. He likes government quite a lot. We, well are more skeptical of the state. Saying that though, there is no doubt that Mr. Nader is an enemy of crony capitalism and one of the good guys running around Washington. (There are a few.)
Below is a declaration. A call to town halls. A call to take the rhetorical fight directly to our elected officials during their summer recess. If our representatives are going to ignore us in DC they will have a much harder time ignoring us at community meetings and grandstanding events. Turn on your iPhones. Record responses to hard questions. See what happens.
They do work for us.
Tens of millions of pounds of UK aid money has been siphoned through charities linked to Hillary Clinton, it emerged last night.
British politicians – including Gordon Brown – stand accused of diverting huge amounts of cash through the organisations after falling under the spell of the US presidential candidate and her husband Bill.
At least £50 million of taxpayer-funded foreign aid money has gone to Clinton charities, which are at the centre of allegations in the US that foreign governments used donations to buy influence.
In the words of the online editor at CSPAN, you know “we show no emotion” CSPAN.
Here’s an appetizer.
It’s the same party with 2 wings. The Washington Crony Party. If one can fleece the taxpayer it will be done, Republican, Democrat, whatever, so long as money is funneled to the narrow interests which fund your campaigns.
The Republican Party, though it has a free market wing which is young and growing is still dominated by the older big government crony Republicans. How long that generation can hold on, and how much damage they will create to the economy is anyone’s guess.
That we have an IRS is bad enough. For the majority of our country’s history we had no IRS and we prospered. And we would again if the IRS and the income tax disappeared. But it is exponentially worse that the agency has been used as an outright tool of persecution by the White House. The IRS wasn’t looking for tax cheats, it was looking for enemies of the president.
And the president says that the real scandal is that the IRS doesn’t get enough funding.
Destroying (or attempting to destroy) one’s political opponents with said agency is no big deal however. Not like that is straight out of the 3rd world crony playbook or anything.
The question I have is why Congress, and specifically leadership keeps letting the Obama administration get away with this sort behavior. Behavior which is quite serious and damaging to the United States.
Homeland Security is a massive Jabba the Hutt-like pile of bureaucratic fat. It is a works program (to a large degree) with far too much power. It is full of waste and cronyism. The last thing this agency needs is to be expanded. We’ve got dozens of agencies trolling through cyberspace already. Homeland just wants an even larger piece of the taxpayer funded pie.
Homeland Security has already eaten way too much pie.
Though “security” may be part of the issue here, money is the bigger one, and bringing home cyberbacon. Or cyberpie, or whatever. Jabba’s drooling.
We have a copy of this book and will be doing a review of it soon. In the meantime, if you’re headed to the beach or lake this summer this might be a good one to take along.*
I wonder if it has anything to do with high taxes, over regulation, or the highly crony governments in at least a good number of these cities. Add in crime, and traffic, and of course people want to get out of Dodge, or Chicago anyway.
Many of today’s office workers should be telecommuting most of the time. It just makes sense. Why sit in a cube in a building when one can do the same job, likely more efficiently at home? This would take people off the roads and generally make America a more pleasant place.
All one really needs for many jobs these days is a high speed Internet connection. One can live almost anywhere if one has that. Why commute into a dirty, congested, city if one doesn’t have to?
So it can’t dogfight. (Maybe not an issue but probably will be if history shows us anything.) It is also a single engine aircraft which means if one engine goes out, that’s it. Over land the situation may be salvageable. Over the ocean, where an extra engine is particularly valuable, it’s a much tougher spot. The Navy as I understand it wanted a dual engine jet for that reason. Others did not.The F-35 is also a manned aircraft in an era where this is less and less necessary.
And this is just for starters.
A few posts ago we made the point that we should all count our lucky stars that we were not some newly middle class guy in China who leveraged his home to play the stock market.
If however you are that guy and you are reading this know that at the very least you have our sincerest sympathies. Though that doesn’t pay the margin call we understand.
Heads they win. Tails you, well you know how it goes. You read this website.
Akin Gump (And just to be clear Bubba Gump is a shrimping company and not affiliated as far as we know) is an equal opportunity bundler. Republican? Ok. Democrat? No problem. Need money to get elected? We’ve got you covered. Easy terms too.