ConAgra, Walmart and JPMorgan Lounge In The Food Stamp Safety Hammock
Thus we are left with stimulus spending that is not self-sustaining and a structural expansion in the food stamp program. In effect, we have an increase in the disincentive to work or to search for better paying employment….The Congress, however, has not helped its case by taking what so far has been a do-no-harm attitude toward agricultural subsidies. Most of the benefit of these subsidies | Read More »
Crony Capitalism and the Power of The Fed
On today’s edition of Coffee and Markets, Brad Jackson and Allysen Efferson are joined by Hunter Lewis to discuss his books, the undo influence of the Fed, and if there is room in America for libertarian populism.
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#Waywire: Cory Booker’s Ticket To Board The Torricelli Express
It was a little over 1 year ago, and Cory Booker, Mayor of Newark, NJ launched an IPO to fund his own brainchild; a social media aggregator entitled #Waywire. He felt that he could offer something brand new to the social media industry and speak for younger Americans of The Millennial Generation. His project started with a bang, but appears to be about to end with a thud. Mayor Booker has discovered what many before him have learned already. You can’t lie down with the dogs and not get infested with fleas.
Booker described his mission as a modernization. “Traditional media is controlled by a handful of companies with one destination and a specific point of view,” Booker said, “while [Millennials] have come of age expecting social media, user-generated voices, the open web and technology led media.” Techli.com wrote a glowing description of the initial success of his IPO.
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Obama for America… taking out $15 million dollar loan… from BANK OF AMERICA?
This is a situation where the traditional “…Wait. WHAT?” seems a bit… understated: “Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.” Now, | Read More »
This, This, A Thousand Times This
Finally, someone has seized upon what I think is THE winning narrative in this election cycle. It used to be that if you worked hard enough you could be successful in America. But in Barack Obama’s America, you have to work hard and give to Barack Obama. It’s all about the team you are on, not the work you do. The website Crony Chronicles has | Read More »
Mitt Romney Fans the Flames of Free Market Energy Policy
Mitt Romney actually stood for bold colors yesterday. For conservatives, it should be the biggest story of the week. Conservatives are rightfully focused on the impending tax cliff that is facing American taxpayers at the end of the year. But we must not forget the subsidy cliff either. Dozens of special interest tax preferences, known as tax extenders, are slated to expire at the end | Read More »
We’ve Defeated Fred Upton!
Well, not exactly. Fred Upton has defeated Fred Upton. As the primary season progresses, we’ve see this pattern repeat itself on numerous occasions. There’s an old bull Republican who has been pushing for big government and anti-free-market policies for years. Then, as soon as his primary opponent begins to sow the seeds of disquiet in his district, the old bull lurches to the right, introduces | Read More »
The Cycle of Government: Subsidize the Living; Tax the Dead; Benefit the Corporate Cronies
In recent weeks, we’ve been subjected to mellifluous pandering to our nation’s farmers by liberals in both parties. They admonish us about the need to provide farmers with a “safety net” and to protect them from catastrophic events. To that end, they are pushing a massive $1 trillion Ag subsidy, which happens to contain over $750 billion in food stamp spending. Aside for the fact | Read More »
Obama’s crony capitalism talked about by Obama crony capitalist:
(Via Instapundit) What does crony capitalism look like? This is what crony capitalism looks like:
Shelley Berkley (D, NV-01) under ethics investigation for medical crony capitalism.
OK, here’s the background: back in 2011 it came out that in 2008 Congresswoman Shelley Berkley (D, NV-01) intervened to prevent the shutdown of a Nevadan kidney transplant program that was killing patients. It’s important at this point to distinguish between proper and improper responses: for example, it is proper to be concerned about what was reported as being “the only transplant center in Nevada” | Read More »
Scorecard: Solyndra vs. Konarka
In a move that they’ll surely regret, the Obama campaign has called attention to a “green energy” loan to Konarka Power Plastic of Lowell, MA while Mitt Romney was governor. They have accused Romney of hypocrisy in his criticism of the Obama Administration’s DOE loan guarantee to Solyndra and other “green energy” firms. Here’s how the two loans panned out: Obama Romney Failed Green Company | Read More »
Dick Lugar Haunts the Free Market from the Grave
You might have thought that we vanquished Dick Lugar from the levers of power a few weeks ago. But if nothing is done to stop the impending 5-year Farm Bill, he might harm us with his regressive policies long past his time in Washington. Last month, the Senate Agriculture Committee passed a 5-year farm bill that continues to serve as one of the most potent | Read More »
, crony capitalism
, Dick Lugar
, farm bill
, free market
, kent conrad
It’s Time to Dump Upton for Jack Hoogendyk in MI-6
It’s hard to think of a more liberal Republican that occupies a more consequential position in Congress than Fred Upton. It’s not just the fact that the Chairman of the Energy and Commerce Committee, one of the most powerful House panels, is a big supporter of green energy. It’s not just the fact that this same man was the Thomas Edison of the incandescent light | Read More »
Some GOP House Members Beg Leadership for Ex-Im Bank Extension
Undoubtedly, as we pursue a limited government agenda, we face an arduous task in reducing personal dependency on government. Democrats have successfully created a scheme where almost half the population pays no income taxes, while 40% receive something from the government. Their relentless demagoguery makes it difficult to wean people off welfare and entitlement programs. However, there is a lower hanging fruit in the statist | Read More »
The Chamber of [Government Run] Commerce
Recently, some of my friends have expressed shock and dismay over the Chamber of Commerce’s endorsements of big-government establishment Republicans like Dick Lugar and Jon Bruning. After all, they suggest, isn’t the Chamber a bastion of free-market, pro-growth policies? The answer is really simple. It is no enigma. The Chamber of Commerce is not conservative, pro-free-market, or even necessarily pro-growth. They support the special interests | Read More »