Democrats Support Subsidies for the Rich

They fight for taxpayer subsidies for the rich while claiming to stand against income inequality. It is a shame that half of Republicans support the Export-Import Bank, but it is telling that nearly all Democrats do so. This was documented recently in the Washington Examiner: In order to overcome the opposition of the House majority leader, speaker-elect, the House Financial Services Committee chairman, and most Republicans on the committee, Democrats got behind a Discharge Petition that eventually Read more […]

Obamacare Gives Insurers Billions of Dollars

The Obamacare reinsurance plan arbitrarily became a gift to insurance companies that was stolen from those who were required to buy insurance. Obamacare seemed risky and the system had a mechanism for inducing insurance companies to cooperate. That mechanism ended up simply giving insurance companies money. As the Federalist reports: The Transitional Reinsurance Program is one of three mechanisms in Obamacare created to protect insurance companies from the risks associated with entering into Read more […]

Minnesota High-Speed Rail Is Welfare Handout to Crony “Capitalists”

The proposed Minnesota high-speed rail system is supposed to connect Rochester and the Twin Cities. If people really need a fast connection between Rochester and the Twin Cities of Saint Paul and Minneapolis, then someone would invest in the land purchases or easement rights, build the rail, and profit from the sale of tickets. If there isn’t enough money to be made to support such a venture, then there is not enough demand for the high-speed rail to justify its construction. More importantly, Read more […]

Chamber of Commerce Out for Revenge over Ex-Im Bank

The Chamber of Commerce has decided to start working for the defeat of conservatives in Congress. Others have written before on this blog about the open war between moneyed Republicans and the Tea Party, and especially between the Chamber of Commerce and the Tea Party. Another chapter in that story of battle and betrayal has come upon us as the Chamber of Commerce swears vengeance over the defeated, crony-capitalist Ex-Im Bank. The Ex-Im Bank, remember, used taxpayer subsidized loans to provide Read more […]

Another Welfare Queen Billionaire: Elon Musk

The entrepreneurial gift of Elon Musk is his ability to follow the government money and ride the taxpayers to riches—his own. As regular readers will know, I have defended Tesla, a company started by Elon Musk, from Chris Christie, and from other state rulers. But whether or not a company should be crippled in order to help its competition is a different question than whether or not taxpayers should be used to start that company. It seems that Elon Musk is a master at using taxpayer money. According Read more […]

Health Insurance Giant Gets Massive Profits Thanks to Obamacare

The health insurance Giant Aetna is profiting a great deal through the Affordable Care Act. Burce Jaspen writes at Forbes.com, “Aetna CEO Says Obamacare An ‘Attractive Growth Opportunity.’” How nice for him. Health insurer Aetna said it would make more money than originally anticipated thanks to “attractive growth” from new enrollment on public exchanges under the Affordable Care Act. Aetna now expects its 2015 earnings per share of “at least $7.00” compared to an earlier Read more […]

Centralized Power Is a Corruption Magnet

The reason we have so much corruption is that centralized power makes such corruption possible and profitable. From the Of Two Minds blog: I confess that reading Francis Fukuyama’s latest cri du coeur in Foreign Affairs,America in Decay: The Sources of Political Dysfunction made me think Mr. Fukuyama has either been reading or channeling Of Two Minds.com , as his brutal assessment of America’s terminal political dysfunction reflects many of the themes I’ve been hammering on for the past Read more […]

No Fear of God among Bankers and Politicians

When the fear of God departs, you’d better be ready for the consequences. Western elites from Washington, DC, to New York, to London and Brussels have made sport of lawlessness in recent years, and because general and economic education has been so dumbed down, most citizens have no clue how much those in power have robbed us in the guise of “rescuing” us. As Jeremy Warner writes for the Telegraph: Like common brigands, central banks have been acting outside the law… by driving up the value Read more […]

Watch The Corruption Flow: Obama Sends $70 Million-Plus To Allies In Chicago

Here is how the Chicago Tribune repeats White House PR about this bogus program to buy influence with Federal funds: Obama will officially announce the Chicago hub Tuesday at the White House. The initiative follows Obama’s new playbook for dealing with an oppositional Congress unlikely to enact any part of his economic vision. The announcement also delivers on the president’s pledge in his 2013 State of the Union address to set up three new manufacturing institutes from existing government Read more […]

Insurance Companies Planning To Profit Off American Pain & Fascism Are Now Worried: Good!

Our own Bob Allen pointed this out to me from the Bloomberg news site: Insurers Oppose Obamacare Extension as Danger to Profits Allowing Americans more time to enroll for health coverage under Obamacare may raise premiums and cut into profits, insurers are telling members of Congress in a bid to stop such a move. Extending the enrollment period would have a “destabilizing effect on insurance markets,” said Robert Zirkelbach, a spokesman for the Washington-based lobbyist group American’s Read more […]

More Evidence Obama Is a Wall Street Pawn

It continues to amaze me how brazenly hypocritical the Obama Administration can be when it comes to corporations and “corporate greed.” All Obama has to do is insist on a higher tax rate for the rich and all his other actions (or inactions) on behalf of major corporations are given a free pass by the media. Last night the Wall Street Journal reported that Bob Ryan has a new job. Who is Bob Ryan? His past, before he took his new job, is described thus: “Mr. Ryan is currently a senior advisor Read more […]