Crony Capitalism

The Guardian: Paul Krugman should be U.S. Treasury Secretary

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The friend who sent this article to me wrote:

Part of me actually hopes for this appointment because he will accelerate the collapse of the current psychotic Keynesian ideology and our unsustainable fiscal practices. The sooner it ends, the better…even if that end is painful.

I couldn’t agree more.  Now for some snippets from the latest Op Ed insanity from a major publication:

Not only is he the world’s best-known economist, Krugman has the intellect and integrity to resist Wall Street’s calls for austerity.

He could ignore what Wall Street and conservative media interests want and pick somebody who would represent what the electorate voted for. And not even just the people who voted for him: there are a lot of Republican voters out there who are also unemployed.

It didn’t take long for the author to expose his lack of understanding in the above paragraph, where he uses the same old false left-right divide to imply Wall Street is “conservative.”  They are the furthest thing from conservative, they are simply financial oligarchs that own both major parties and Paul Krugman would be an ideal tool for them as well.

Then again, he does make one point I agree with:

This was unprecedented and an historic change; Kim is practically the only World Bank president in 60 years who was not previously a banker or a war criminal.

However, he immediately reverts to nonsense very quickly when he states:

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Washington Post: “Markets Saved World” in 2012

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This is a brilliant piece of propaganda.  Central Planners are trying with all their might to force people into behaviors and financial assets that are in direct contrast to their logic as well as long term financial well being.  This is the height of immorality, not to mention hubris.  In the end, there is no chance of any of this working as the reality on the ground will overwhelm all of the manipulations and lies of the corrupt oligarch class.

From the Washington Post/Bloomberg article “Almost All of Wall Street Got 2012 Wrong as Markets Saved World”:

Blankfein was more prescient. “I tend to be a little more positive than what I’m hearing from other people,” the 58-year- old CEO told Bloomberg Television in an April 25 interview at Goldman Sachs’s New York headquarters. “One of the big risks that people have to contemplate is that things go right.”

Well of course Mr. Blankfein was optimistic.  He knows he has the Treasury Department and the Federal Reserve in his back pocket and they will do whatever he says with one phone call.  Furthermore, if things go wrong you just get a bailout.  Crony Capitalism 101.  That’s how the World’s 100 Richest People Got $241 Billion Richer in 2012.

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World’s 100 Richest People Got $241 Billion Richer in 2012

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I am not an envious person, nor am I someone just trying to make as much money as possible.  If that was my goal I would’ve just stayed at my cushy and easy Wall Street job.  This isn’t about money, it is about the fact that the richest people in the world are merely abusing the monetary and political systems of their nations while pushing everyone else into deep debt servitude.  Moreover, now in the United States the oligarchs are attempting to disarm the population so that their fortunes are protected from the masses that they have just raped and pillaged.  From the Los Angeles Times:

The richest people on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 100 wealthiest individuals.

The aggregate net worth of the world’s top 100 stood at $1.9 trillion at the market close Dec. 31, according to the index. Of the people who appeared on the final ranking of 2012, only 16 registered a net loss for the 12-month period.

“Last year was a great one for the world’s billionaires,” said John Catsimatidis, the billionaire owner of Red Apple Group Inc., in an email written poolside on his BlackBerry in the Bahamas.

Meanwhile, as Spain descended into the gutter in 2012…

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In California, Lobbyists and Lawmakers Travel the World Together

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Crony capitalist sightseeing tours.  Nothing like being a corrupt political oligarch in today’s America!  Great story here from the Sacramento Bee:

It’s mid-November. The election is over, and the new legislative session has not yet begun. Perfect time for a lawmaker to take vacation – or go on an “educational” trip with some of the Capitol’s most powerful interest groups.

Destinations for the talks? Hawaii, Brazil, China, Australia and New Zealand.

He said the cost of the trip – not yet determined – will be reported as a gift to the lawmakers attending: Republican state Sens. Anthony Cannella of Ceres, Bill Emmerson of Hemet and Mimi Walters of Laguna Niguel, as well as Democratic Sen. Michael Rubio of East Bakersfield and Democratic Assemblyman Steven Bradford of Gardena, who chairs the utilities and commerce committee.

“They who pay for the education have a way to decide what the legislators are going to be educated on,” said Dan Jacobson, a lobbyist for Environment California, which is not a member of CFEE. “It’s not a full education – it’s a partial education and will end up being a (biased) education trip.”

Sharing hotels, meals and exciting experiences with interest groups creates an imbalance for legislators, Jacobson said, where moneyed interests are favored over everyday constituents.

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My Thoughts on the Election: The Devil You Know

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Politics is the entertainment branch of the Military-Industrial Complex. – Frank Zappa Democracies die behind closed doors. – Judge Damon J. Keith Every act of creation is first of all an act of destruction. -Picasso. My Thoughts on the Election: The Devil You Know Regular readers know that I voted for the Libertarian candidate for … Read more

Obama Wins 8 of the Nation’s 10 Wealthiest Counties…Impressive Stats for a “Socialist”

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I just love these statistics posted by CNBC yesterday: In an election that often focused on debates about class warfare, President Barack Obama was favored over multimillionaire businessman Mitt Romney in eight of the nation’s 10 wealthiest counties. For a guy that supposedly wants to redistribute wealth, the wealthiest people sure do seem to like … Read more

The Last Domino

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Whenever you find yourself on the side of the majority, it is time to pause and reflect. – Mark Twain I think we’re being run by maniacs for maniacal ends and I think I’m liable to be put away as insane for expressing that.  – John Lennon (watch the video of Lennon actually saying it … Read more

The Department of Homeland Security is a Conduit for Crony Capitalism

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As if we needed more evidence.  Not only is Big Sis’ Department of Homeland Security (DHS) taking away our civil liberties, but we now find out it is a conduit for crony capitalists to make more money off the U.S. taxpayer.  The story I am referencing today concerns the Federal Protective Service (FPS), which is … Read more

Revolving Door Update: Shamed Swiss Central Bank Chief to Join BlackRock

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Anyone surprised here?  So the guy who decided it was a great idea to peg the Swiss Franc to the sinking stone that is the Euro, and whose wife was accused of insider trading by front running that decision, finally received his reward from the crony capitalist financial oligarchs…a top position at BlackRock!  He will … Read more