The American economy was designed to be based on free market capitalism. Somewhere along the way it began to look more like crony capitalism. That is what I think we have become. So how do we get back to the place where every man has an equal opportunity to become wealthy? Oddly enough, Elon Musk has a few ideas on the subject.
On Tuesday, Townhall reported:
What people actually paying attention know? Is Big Business and Big Government work in tandem – to their ongoing mutual benefit. And the country’s destruction.
Big Business writes laws making Big Government bigger. Which Big Government then passes. Bigger Big Government then works to make Big Business even bigger. Bigger Big Business then writes laws… Lather, rinse, repeat…
Nauseatingly over-remunerated Big Bank employees become Big Government bureaucrats. Who then help the Big Banks get even bigger. Then the Big Government bureaucrats are rewarded by becoming nauseatingly over-remunerated Big Bank employees. Who then become… Lather, rinse, repeat…
To wit: I give you the United States’ financial sector. The Big Banks are titanic, dominant forces that control great and growing percentages of the market. The Big Government agencies that allegedly exist to prevent Big Bank abuses? The Federal Reserve and the Consumer Financial Protection Bureau (CFPB) chief amongst them? Are titanic, dominant forces that control great and growing percentages of the market.
Together? They dominate and have destroyed their huge portion of the US economy.
The article reminds us:
Dodd-Frank massively increased the power of the unconstitutional, unaccountable Fed. And created the unconstitutional, unaccountable CFPB.
The allegedly “independent” Fed and CFPB have now been so powerful and so unaccountable for so long? Their bureaucrats respond with anger and revulsion to even the thought of anyone even prospectively reining them in.
Fed chairman Jerome Powell is a government villain too cartoonish even for Ayn Rand:
“Jay Powell says Donald Trump couldn’t fire him even if he tried….’Not permitted under the law,’ the central bank chair said Thursday in curt but clear responses to reporters who asked about his views on any legal authorities Trump might have in terms of firing or demoting him or any other top Fed officials.”
The article concludes:
Which brings us back to the Trump Administration and its DOGE – The Department of Government Efficiency.
One of the two co-czars of DOGE is Elon Musk. Who has said some VERY promising things about both the CFPB and the Fed.
Elon Musk Reposts Call to End the US Federal Reserve Bank
Yes, please. And yes, please.
The first two letter of DOGE are “DO.” As in it let’s DO it. Times two.
Just a reminder: