Tag: crony capitalism

RANT: Seems like the Totalitarians are taking control

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https://cafehayek.com/2022/02/some-covid-links-392.html

Some Covid Links
by DON BOUDREAUX on FEBRUARY 22, 2022

*** begin quote ***

Writing in the Wall Street Journal, Michael Taube wonders if Canadian democracy will survive strongman Justin Trudeau’s authoritarianism. A slice:

At the same time, Finance Minister Chrystia Freeland announced the Financial Transactions and Reports Analysis Centre of Canada would be expanded to monitor funds raised by the Freedom Convoy through GoFundMe and cryptocurrency. Banks would also be able to freeze accounts of people suspected of contributing to this protest, without a court order. This has caused both average citizens and business owners embarrassment and potential harm to their livelihoods.

While some Canadians supported Ottawa’s decision out of frustration with the protests and blockades of border crossings like the Ambassador Bridge between Detroit and Windsor, Ontario, others were furious. Mr. Trudeau was criticized for abandoning civil liberties, free speech and the right to protest. He’s been called a “tyrant,” “totalitarian” and “dictator.” The Canadian Civil Liberties Association took the prime minister and his government to court last week. Left-leaning newspapers like the Toronto Star have condemned him.

*** end quote ***

This freezing the assets of contributors has exposed how fragile control of one’s own assets is!

Coming to the USA soon.

—30—

TECHNOLOGY: Sounds like “Social Media” won’t be afforded protection from accountability any more

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https://dailycaller.com/2020/11/27/trump-section-230-national-security-biden/?fbclid=IwAR0xufJwDTMAFBq0ZFR6ncje-ZkknUuB3u-QEcGk8JNtgpdG8qwQwPgUSww

‘Immediately Terminated’: Trump Calls For Abolishing Section 230 In Late Night Tweet
ANDERS HAGSTROM — WHITE HOUSE CORRESPONDENT
November 27, 202010:22 AM

*** begin quote ***

Trump and Republicans have argued for years that social media giants like Facebook and Twitter were abusing the immunity to silence conservative voices on their sites.

*** end quote ***

Long overdue!

—30—

GOVEROTRAGEOUS: The BHO44 DOJ interfered in the Clinton Foundation investigation

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http://dailycaller.com/2018/04/15/fbi-clinton-foundation-investigation/

Behind The IG Report — How The Obama Justice Department Tried To Shut Down The FBI’s Investigation Into The Clinton Foundation
RICHARD POLLOCK — Reporter — 8:37 PM 04/15/2018

  • The Department of Justice Inspector General released a report Friday claiming “lack of candor” by former FBI deputy Director Andrew McCabe
  • The report also details Justice Department’s influence to close a multi-state investigation into the Clinton Foundation
  • The IG claims McCabe leaked DOJ’s pressure to end the Clinton investigation to battle claims he was partial to the Clintons

*** begin quote ***

The Department of Justice Inspector General report on the “lack of candor” by FBI deputy Director Andrew McCabe also documents for the first time the Obama administration’s effort to shut down the bureau’s investigation of the Clinton Foundation, according to a review of the report by The Daily Caller News Foundation Investigative Group.

*** and ***

The question is how much additional pressure did the Obama administration apply upon the FBI to end its investigation of the Clinton Foundation. The IG’s report is silent on this point.

*** end quote ***

Seems factual that the BHO44 DOJ interfered in the Clinton Foundation investigation.

How high did the interference go? 

To BHO44 himself?

Who knew what and when?

Argh!

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GOVEROTRAGEOUS: Crony Capitalist Medicine?

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https://www.ac2news.com/2018/01/do-we-have-a-free-market-medical-system/

Do We Have a Free-Market Medical System?
Posted on January 19, 2018 by Hunter Lewis

*** begin quote ***

Edward K. Glassman, my long ago Harvard classmate, author of Dow 36,000 (predicting Dow at that level by 2005), and current director of the George W. Bush Institute, extolls our free market medical system at FoxNews this week. The first reader to comment on the article agrees that we have a “ free market” system, but thinks that “profit based healthcare” should be “outlawed.” Another reader thinks that we actually have “socialized medicine.”

So what do we have? I think the most apt description would be “crony capitalist” medicine, one in which powerful special interests conspire with government officials to create legally mandated monopolies, with the specific goal of thwarting free market competition.

Here is how it actually works:

[Excerpts follow … …]

  • Most people wonder why there are no visible prices in medicine.
  • These monopolies are further sweetened for doctors by legally barring nurses, 
  • drug companies claim a legal monopoly when they patent a drug. The drug research may have been done by the government or by a university using government money 
  • the FDA approval process eliminates any competition 
  • FDA enforcement

No, this is not a free market system nor anything remotely close to one. 

*** end quote ***

It’s obvious that Obama/SCOTUS/Trump care merely seeks to perpetuate and extend this corrupt cronyism.

The obvious solution is to withdraw consent as much as possible.

Seek to avoid the “medical establishment” as much as possible.

Take all their diktats as recommendations. Take responsibility for your self. Take issue with the powers that be at every opportunity.

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POLITICAL: Abolish the IRS

Published on by reinkefj3 Comments

http://www.againstcronycapitalism.org/2015/04/enough-is-enough-abolish-the-irs/

Enough Is Enough: Abolish the IRS
By Editor on April 12, 2015

*** begin quote ***

The income tax is absolutely crazy if one takes a moment to think about it. We’ve become so conditioned to accept it that we don’t even realize how ridiculous it is. The government taxes one for being productive, for creating income for one’s family, for doing one’s part to grow the economy. It doesn’t make any sense.

*** and ***

The IRS has also become a political tool as the Lois Lerner debacle illustrated. 

*** and ***

We should seriously consider a flat tax. Forget consider, we should institute a low flat tax tomorrow. 12.5% across the board. I could live with that (for right now.) 1 postcard on April 15th. No forms. Easy. Actually EZ.

*** end quote ***

I say 10%!

With reduction every year.

Until it’s zero.

Like Prohibition, “(pseudo) War on (some) Drugs”, and the Federal Reserve, “We, The Sheeple” have allowed a lot of mistakes to be made.

Argh!

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POLITICAL: Crony Capitalism meets Regulatory Capture

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http://www.cato.org/blog/california-gives-inspectors-new-power-menaces-more-unlicensed-contractors-jail

SEPTEMBER 19, 2014 11:36AM
State Inspectors Get Run Of California Worksites—At Business Groups’ Behest
By WALTER OLSON

*** begin quote ***

How could the California legislature have unanimously (as it did) passed a measure curtailing property rights by giving more state inspectors access to places of labor against owners’ will? Simple: it was framed as a pro-business measure. Among its backers were the sponsoring Contractors State License Board and such groups as the Air Conditioning and Refrigeration Contractors Association, the electrical contractors, the landscape contractors, the plumbing and heating contractors, and so forth. 

*** end quote ***

Crony Capitalism meets Regulatory Capture!

It’s all about reducing competition.

That’s the first rule of Crony Capitalism: payoff the politicians and bureaucrats and keep competition out of the marketplace. 

Argh!

Maybe it’s just me.

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ECONOMICS: Tom Woods give a clear definition and distinction

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http://www.lewrockwell.com/2014/07/no_author/why-were-winning/

The Role of Austrian Economics in the Liberty Movement
July 22, 2014

*** begin quote ***

Tom Woods kicks-off this year’s Mises University with a brilliant discussion of the ‘Role of Austrian Economics in the Liberty Movement’.

*** end quote ***

An interesting hour.

I was fascinated by his clear definition and distinction between “Austrian Economics” (i.e., von Mises et al.) and the “Liberty Movement” spawned by Ron Paul.

Are “we” a minority? Absolutely.

So were the Dead Old White Guys!

The interesting part is about “we are winning” because “our” ideas align more closely with reality that do the Keynesian Economics and the big Gooferment welfare / warfare state with it’s Crony Capitalism, corrupt politicians, and lifetime lazy bureaucrats.

On to New Hampshire, as part of the Free State Project (http://freestateproject.org) to make it the FIRST truly “Free State”.

Argh!

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RANT: Why subsidize ANYTHING?

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http://washingtonexaminer.com/bill-de-blasios-first-decision-corporate-welfare-for-the-yankees-and-an-arab-sheik/article/2540574

Bill de Blasio’s first decision: Corporate welfare for the Yankees and an Arab sheik?
BY TIMOTHY P. CARNEY | DECEMBER 11, 2013 AT 3:50 PM
TOPICS: BELTWAY CONFIDENTIAL NEW YORK CITY BILL DE BLASIO SUBSIDIES

*** begin quote ***

Progressives like NYC Mayor-elect Bill de Blasio want Big Government to work for the deserving. So, the question is: How deserving are the New York Yankees and Sheik Mansour Bin Zayed Al Nahyan?

The New York Daily News reports:

Under the complex proposal, the new soccer team — a joint venture of the Yankees and Manchester City Football Club, a British team owned by Sheik Mansour Bin Zayed Al Nahyan — would pay virtually no rent for 38 years for the largely city-owned land on which the proposed 28,000-seat soccer venue would sit.

The new franchise would also be permitted to divert the property taxes it would normally owe the city to pay off its bonds, the sources said — a deal similar to the one the Yankees and the Mets got for their new stadiums in 2005. The soccer club would be exempt from sales taxes or mortgage taxes.

Sports owners may be the most subsidized class in America. Every year, we hear of a few new stadiums getting taxpayer subsidies.

Today, the Atlanta Tea Party filed a lawsuit to block subsidies for a new Atlanta Braves baseball stadium in Georgia’s Cobb County. Washington, D.C., is going to spend nine figures on a soccer stadium and charge the team $1 in rent. There are hundreds of examples of this.

*** end quote ***

There is no justification for this type of favoritism.

It should be de facto not even eligible to be considered by any politician or bureaucrat.

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POLITICAL: GM $14 billion in taxpayer dollars

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http://www.lewrockwell.com/2013/12/eric-peters/14-billion-up-in-smoke/

The Bailout
By Eric Peters
Eric Peters Autos
December 13, 2013

*** begin quote ***

In Washington, they always try to announce unpleasantness during the off-hours (weekends, holidays and such) so that – hopefully – the stink will be less noticed.

In Detroit, too.

The recent announcement of the accession of Mary Barra as the new CEO of General Motors just happened to be exactly coincident with the announcement that the federal government has divested itself of its remaining partial ownership of GM.

This is good news.

The bad news – according to the Center for Automotive Research – is that $14 billion in taxpayer dollars went up in smoke as a result of the government’s “investment” in GM.

*** end quote ***

Sorry, but that is just the bailout cost.

What about all the lawyers, productivity, and personal losses?

Frau Reinke lost 5k$+. Where does that get tallied?

And, the loss of market discipline.

Bailouts are addictive. And, immoral, ineffective, and inefficient!

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POLITICAL: Hemp, why not?

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http://www.care2.com/greenliving/5-surprising-health-benefits-of-hemp-2.html

5 Surprising Health Benefits of Hemp
Brandi, selected from Diets in Review
August 17, 2013

*** begin quote ***

Hemp has always had trouble stepping out of the shadow of its dirty cousin marijuana. While it is closely related to whacky tobaccy, hemp has microscopic amounts of THC — the chemical in marijuana that gets you high — and eating hemp foods won’t jeopardize your next drug test. The health benefits of hemp are so vast that people are beginning to abandon the antiquated stereotypes of the versatile plant.

Sharon Palmer, author of The Plant Powered Diet, wasn’t wasting her breath when she said, “I think hemp is the next ‘it’ food — it has been for a while.” The hemp seed is bursting with Omega-6 and Omega-3, essential fatty acids that have heart health and anti inflammatory benefits. Hemp seeds are nutty in flavor and breathe life into salads, desserts, yogurts, cereals, and breads. Hemp seeds can be turned into butter, milk, protein powder, finishing oil, and soap.

Unfortunately, Uncle Sam outlawed hemp farming in 1958, a shame when you consider how amazing a crop it is. The plant thrives without pesticides, purifies the soil around it, and kills weeds. The U.S. is the only country that bans industrial hemp farming, quelling what could be an agricultural and financial boon for our indebted country.

*** end quote ***

How about we get the Gooferment out of farming?

Why do we have a “Department of Agriculture” any way?

Oh yeah, that’s right we need to reward “crony farmers” who make contributions to politicians.

Why can’t we feed the world with our exports?

Argh!

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RANT: Detroit will hurt EVERYONE

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http://www.againstcronycapitalism.org/2013/07/guest-post-detroits-bankruptcy-will-bite-you-in-the-wallet/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+againstcronycapitalism+%28AgainstCronyCapitalism.org%29

Guest Post: Detroit’s Bankruptcy WILL Bite You In the Wallet
By Editor on July 20, 2013

*** begin quote ***

All this isn’t even taking into account the rampant corruption, bribes, and ulterior motives that every municipal government is crawling with – those are self-explanatory. Fast-forward a few decades and the politicians who planted the seeds of decay are long gone in one way or another – but now the municipality cannot afford its obligations. Losses on poorly planned projects, debt, and exorbitant employee compensation eat up most of its revenue, and it can no longer afford to provide the essential public services every resident counts on.

*** end quote ***

See that is the essence of the problem.

Folks want “free lunch”, but there ain’t none.

Detroit is what happens when the bill comes due.

And they Sheeple and Clover there have voted Democratic for 50 years. (Not that the R’s would be MUCH better.)

Like the Delta pilots, everyone’s getting a haircut.

Unfortunately, a promise is worth what backs it up.

On Wall Street, they have a name for it — “Counterparty risk”.

Sorry to say, but you depend on Gooferment, politicians, and bureaucrats at your own peril.

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RANT: Moat, like around a castle?

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http://www.alternet.org/books/outrageous-david-cay-johnston-explains-how-big-corporations-withhold-your-taxes-and-then?page=0%2C1&akid=10233.1122391.f44_vU&rd=1&src=newsletter813672&t=9

JH: David, you detailed very, very well how we are constantly being ripped off. It’s a death of 1,000 cuts. Why is that? The story that we’ve gotten, for years and years and years, is that we have less regulation in order to spur competition. Ultimately, that competition was supposed to benefit consumers. What’s going wrong?

DCJ: I want more competition. Here’s what really goes on, however. We put up barriers to competition, and in fact, Wall Street has institutionalized this concept. Morningstar, they’re a big financial advice firm. They tell people that they should grade companies and decide whether to buy their stock, based on something called a “moat index.” Moat, like around a castle? A moat index asks, “What barriers has the government erected to keep anybody else from competing against that company?” Indeed, as I show in my book, you could get rich if you invest in those companies that have regulatory moats — where under the name of deregulation, we have insulated them from the rigors of the market. 

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Unfortunately, what we have today is faux capitalism!

The “regulators” are in bed with that which they are supposed to “regulate”.

FDA and Big Pharma is the classic example.

The SEC, FTC, OCC, and all the other bureaucrats are a revolving door with Wall Street.

And, the politicians are like the whorehouse Madam!

Argh!

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“It is a mistake to look too far ahead. Only one link of the chain of destiny can be handled at a time.”- Winston Churchill

RANT: Senator Harkin introduces a bill which would require the president to develop a centrally planned manufacturing strategy.

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Senator Harkin introduces a bill which would require the president to develop a centrally planned manufacturing strategy.: “

obama harkin cc

One can track the bill HERE

The contempt for the market and the freedom of the average individual seems to have no bounds for some of our politicians. They have absolutely no understanding of the natural order of things, or efficiency, or innovation, or creativity. They always want to manage. They want to get into everyone’s business. They want control.

 

And that’s what it really is all about folks- control. Many people in Washington DC do not consider you capable of making your own decisions. You are little more than chattel, serfs, drones (the non-flying kind) to be shuffled and prodded to do the will of those who know what is best for society.

A free individual? Don’t be so naive. You are not free. Frankly you should give up such quaint notions and capitulate. You’ll be much happier as a cog. You’ll see.

Let’s plan everything in this country. And let’s let Tom Harkin and the President do it. I am sure it will all work out great.

(From The Business Insider)

In effect, Senator Harkin wants the President to centrally plan the economy. Never mind that the President has zero experience in business or manufacturing. But hey, this worked out so well for Stalinist Russia, it’s no wonder Mr. Harkin wants to copy that model.

Click here for the article.

The post Senator Harkin introduces a bill which would require the president to develop a centrally planned manufacturing strategy. appeared first on AgainstCronyCapitalism.org.

“

(Via Against Crony Capitalism(dont delete) – Against Crony Capitalism.)

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Can you imagine a worse idea?

I can’t. We already have too much interference in the free market. Or, the facsimile we have of one!

# – # – # – # – #  2013-Mar-15 @ 18:25  

CORRUPTION: What a surprise buying a politician

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http://www.againstcronycapitalism.org/2013/03/radioactive-fraud-company-overcharged-taxpayers-for-cleanup-of-hazardous-waste-gave-big-money-to-senator/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+againstcronycapitalism+%28AgainstCronyCapitalism.org%29

Posted on March 10, 2013 by Editor

Radioactive Fraud: Company overcharged taxpayers for cleanup of hazardous waste, Gave big money to Senator.

*** begin quote ***

A story of nuclear waste and tax dollar waste, a company which was contracted to clean up radioactive refuse has been overcharging taxpayers (by a lot) for over a decade. In 2009 however the times got particularly good when the stimulus train came through town. It dropped off $1.9 billion, with a little help from friends in high places.

*** end quote ***

Yeah, just billions from the taxpayer’s pocket!

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POLITICAL: FACEBOOK gets taxpayer money from BHO44

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http://www.businessweek.com/articles/2013-02-15/facebook-gets-a-multi-billion-dollar-tax-break

High Finance

Facebook Gets a Multibillion-Dollar Tax Break

By Peter Coy on February 15, 2013

It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.

Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.

The tax-research and -lobbying organization says companies such as Facebook should treat stock options the same in their reports to shareholders as they do in their tax filings. Citizens for Tax Justice calls the tax footnotes in Facebook’s Jan. 30 financial statement “an amazing admission,” but there’s nothing illegal about the breaks the company is claiming. Companies like Facebook are allowed to treat the cost of non-cash compensation, such as stock options, as an expense that reduces profits, essentially the way they treat cash compensation such as salaries.

*****

Can anyone say — “Crony Capitalism”?

Argh!

–30–

MONEY: It’s “too big to fail” is “to big to exist”?

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http://etfdailynews.com/2012/12/04/the-coming-derivatives-panic-that-will-destroy-global-financial-markets/

The Coming Derivatives Panic That Will Destroy Global Financial Markets

December 4th, 2012

*** begin quote ***

It would have been really nice if we had not allowed these banks to get so large and if we had not allowed them to make trillions of dollars of reckless bets.  But we stood aside and let it happen.  Now these banks are so important to our economic system that their destruction would also destroy the U.S. economy.  It is kind of like when cancer becomes so advanced that killing the cancer would also kill the patient.  That is essentially the situation that we are facing with these banks.

It would be hard to overstate the recklessness of these banks.  The numbers that you are about to see are absolutely jaw-dropping.  According to the Comptroller of the Currency, four of the largest U.S. banks are walking a tightrope of risk,

*** end quote ***

The bottom line is that Big Gooferment likes Big Anything.

More contributions.

More crony faux capitalism. Get money by playing the game; NOT satisfying customers.

Simple solution. Artificially constrain the size by limiting balance sheets. Require excess to be spun back to the owners.

Ever hear of “anti-trust” or “restraint of trade”?

Not going to happen, because they are all in bed with one another.

–30–

FUN: Bernard McGirk on “replacement refs”

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“Our long national nightmare is over!. — Bernard McGirk on the Don Imus show about the regular refs coming back to work

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We have so many problems. Serious problems — unemployment, deficit, debt, crime in Chicago, immigration, … … California finances, crony capitalism … … 

… … where in this list is “replacement refs”?

Argh!

# – # – # – # – #  2012-Sep-27 @ 07:41  

POLITICAL: What the government is not

Published on by reinkefj2 Comments

http://lewrockwell.com/napolitano/napolitano34.1.html

The Case for Austerity
by Andrew P. Napolitano

*** begin quote ***

Government is not a jobs program, and government is not your caretaker. Government is an arrangement made by free individuals to protect their rights and their property.

It doesn’t take $3.6 trillion a year to do that effectively in America today. I doubt it takes a trillion. We must swallow the bitter pill of austerity now, on our own terms, while we are still the undisputed leader of the free world and while we still have a Constitution, so that we can restore our prosperity in a way consistent with personal liberty.

*** end quote ***

Certainly seems that the 15T$ national debt is OUR problem.

If we were all on the same page, then we could amortize that over generations.

Bet we could sell 50 year bonds!

But we’re not even on the same planet as some people.

The Tea Party and the Occupy folks were all screaming about the same thing. Crony Capitalism, Regulatory Capture, and Rule by the Effete Elite. (imho)

Time to cut spending. And get everyone back to work.

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