My message to the LA Times Editorial blog today regarding the passage by the Senate of the Wall Street Takeover: "Correct, this is not reform in that it does not make things better. It limits competition and creates further barriers to entry. It makes the few favoured firms of Big Finance virtual partners with Big Government (along with Big Pharma, Big Auto, Big Agra, Big Ed, Big Labor, Big Energy, Big Media...). It adds ups to Big Brother. My opinion. - Jean-Baptiste of blogspot"
The bill cannot be stopped by fillibuster now because some loathsome Republican Senator(s) voted for it.
Thursday, May 20, 2010
Wednesday, May 19, 2010
Tea Party vs. Big Government Big Business Progressives
After the latest Senate vote failed to pass the Financial "Reform" bill, one of the Democrat senators stated that big money had won out over the little guy. She and other Democrats were for the "little guy." Nothing could be further from the truth. The progressive plans of those who currently wield povernment power, that is BHO and the Democrat Party, are and always have been very close to big business of all kinds. They need one another. Politicians need the donations, which they can obtain by promises, trickery, bribes, extortion, and black mail. Industries need government to give them favorable treatment over their competitors. Big spenders in government are also some of their best customers.
The so called Progressives are the masters of the big government big business game. Progressives need a lot of power to implement their schemes because they have the biggest schemes, so they need big money support. Usually they will dump their supporters after they serve their purpose. For example, communists use the big unions to obtain power. After communists gain power, workers essentially become slaves.
Now there are dozens of progressive plans gaining support in Congress or waiting on the sidelines. Big Government is pushing bills to support Big Pharma: regulate their natural supplement competitors. Big Agriculture: remove limits and stigma attached to genetic modified food. Big Labor: dozens of ideas, such as the Card Check bill. Big Media: Propaganda directed against competitors ("Net Neutrality"), and maybe eventual bailouts for failing liberal news outlets. Big Medicine: Government Health Care. Big Energy: Cap-and-Trade. Big Finance: "Reform" proposals (which will destroy competition and make the big remaining companies virtual government partners.) Big Education: Bailouts and grants for state education (with plenty of strings attached) to support high teacher unionized salaries and benefits.
The business government bandito business goes on with Democrats and Republicans both. However, the Demos, being bigger spenders, have the most to offer. This is exactly what the Tea Party is about, ending the government business spoil system that is bankrupting the country. Luckily we still have a semi-free press for the most part which is exposing their schemes as quick as they pop up. For example, from what little I know about the recent book, "The Manchurian President," many of the progressive, communist, money, power connections are explored vis-a-vis the Obama phenomenon.
One of Washington State's congressional members seems to be a poster child for a lot of these progressive schemes. Jay Inslee's web site:
http://jayinslee.com/index.php?page=display&id=83
The so called Progressives are the masters of the big government big business game. Progressives need a lot of power to implement their schemes because they have the biggest schemes, so they need big money support. Usually they will dump their supporters after they serve their purpose. For example, communists use the big unions to obtain power. After communists gain power, workers essentially become slaves.
Now there are dozens of progressive plans gaining support in Congress or waiting on the sidelines. Big Government is pushing bills to support Big Pharma: regulate their natural supplement competitors. Big Agriculture: remove limits and stigma attached to genetic modified food. Big Labor: dozens of ideas, such as the Card Check bill. Big Media: Propaganda directed against competitors ("Net Neutrality"), and maybe eventual bailouts for failing liberal news outlets. Big Medicine: Government Health Care. Big Energy: Cap-and-Trade. Big Finance: "Reform" proposals (which will destroy competition and make the big remaining companies virtual government partners.) Big Education: Bailouts and grants for state education (with plenty of strings attached) to support high teacher unionized salaries and benefits.
The business government bandito business goes on with Democrats and Republicans both. However, the Demos, being bigger spenders, have the most to offer. This is exactly what the Tea Party is about, ending the government business spoil system that is bankrupting the country. Luckily we still have a semi-free press for the most part which is exposing their schemes as quick as they pop up. For example, from what little I know about the recent book, "The Manchurian President," many of the progressive, communist, money, power connections are explored vis-a-vis the Obama phenomenon.
One of Washington State's congressional members seems to be a poster child for a lot of these progressive schemes. Jay Inslee's web site:
http://jayinslee.com/index.php?page=display&id=83
Sunday, May 2, 2010
Coast to Coast Does not Quite Get It
I usually spend the weekend working outside, visiting friends, or running around dong the things that I do not have time for all week. By 9:00 or so I usually am home trying to get caught up on indoor chores. Inevitably, I turn the radio on. I do not watch television because it requires your complete attention. You can't do anything else. Usually I listen to to Coast to Coast AM with George Noori, who took over for Art Bell. As much as I disagree with the politics and economics of most guests, another guest always comes along to balance it out.
What they do not have, which is a shortcoming common to most news and commentary forums, is a true free market, libertarian, Austrian economic outlook. They do take cognizance of their existence but only long enough to mischaracterize and thereby dismiss their ideas. For instance tonight, Mr. Noori and the guest, author of "The Looting of America," talk about Ayan Rand. They decide that she and her like believe in "enlightened self interest." They define this as the belief that by seeking what is best for ourselves, we will serve society as a whole. Unfortunately, they say, this has not worked. They of course are ignoring for the most part the place for charity but this is only the trivial case. The more important issue they do not understand is the importance of distortions by government involvement.
This is exactly the error of progressives. Progressives create a vast regulatory structure in order to steer business in such a way that they will have an incentive to help society in general, as a by-product or directly by their profit seeking activity. This is doomed to failure. Finance, the most regulated business, follows the rules that government regulators set up. Within the framework, they find a way to make more money that the progressive like so the progressives say they are gaming the system. This is also a trivial aspects of what happens. More at the core is the implied government guarantee when they business follow the rules, against their better judgment. For example, when banks made government encouraged, sponsored, or even mandated risky loans, they were expecting some type of government bailout and playbacks. Financial engineers figured out how to make money on risky loans that government had encouraged them to do.
When things go wrong, as the schemes of the progressives eventually do, business is blamed and more regulations are enacted. There is always a new recipe to fix things. Very often, as now, capitalism itself is blamed. Mr. Noori favors a "moral capitalism." He has good instincts but is no match against the progressive plans. Progressives will never acknowledge that it is the regulation itself that leads to the problem. Business can never make a big mess on it own. The cooperation of or forcible intervention by government is needed to really screw things up.
Unfortunately, the guest on Coast to Coast tonight is essentially a progressive soldier. He is attacking banks and Wall Street, not to have a discussion on developing a theory of government and finance interface. His mission is to help get a regulatory bill past by this congress. In this he joins virtually all of the press. With BHO and his operatives pulling the strings, any bill passed now will be a virtual take over of the financial functions by the government.
What they do not have, which is a shortcoming common to most news and commentary forums, is a true free market, libertarian, Austrian economic outlook. They do take cognizance of their existence but only long enough to mischaracterize and thereby dismiss their ideas. For instance tonight, Mr. Noori and the guest, author of "The Looting of America," talk about Ayan Rand. They decide that she and her like believe in "enlightened self interest." They define this as the belief that by seeking what is best for ourselves, we will serve society as a whole. Unfortunately, they say, this has not worked. They of course are ignoring for the most part the place for charity but this is only the trivial case. The more important issue they do not understand is the importance of distortions by government involvement.
This is exactly the error of progressives. Progressives create a vast regulatory structure in order to steer business in such a way that they will have an incentive to help society in general, as a by-product or directly by their profit seeking activity. This is doomed to failure. Finance, the most regulated business, follows the rules that government regulators set up. Within the framework, they find a way to make more money that the progressive like so the progressives say they are gaming the system. This is also a trivial aspects of what happens. More at the core is the implied government guarantee when they business follow the rules, against their better judgment. For example, when banks made government encouraged, sponsored, or even mandated risky loans, they were expecting some type of government bailout and playbacks. Financial engineers figured out how to make money on risky loans that government had encouraged them to do.
When things go wrong, as the schemes of the progressives eventually do, business is blamed and more regulations are enacted. There is always a new recipe to fix things. Very often, as now, capitalism itself is blamed. Mr. Noori favors a "moral capitalism." He has good instincts but is no match against the progressive plans. Progressives will never acknowledge that it is the regulation itself that leads to the problem. Business can never make a big mess on it own. The cooperation of or forcible intervention by government is needed to really screw things up.
Unfortunately, the guest on Coast to Coast tonight is essentially a progressive soldier. He is attacking banks and Wall Street, not to have a discussion on developing a theory of government and finance interface. His mission is to help get a regulatory bill past by this congress. In this he joins virtually all of the press. With BHO and his operatives pulling the strings, any bill passed now will be a virtual take over of the financial functions by the government.
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