Crony capitalism
Tens of billions of dollars’ worth of subsidies to millionaire corn farmers to be paid by middle class consumers. Then toss in the sh*tty science that this all to reduce CO2 emissions.
https://hotair.com/archives/2018/10/09/trump-caves-year-round-ethanol-king-corn-still-rules/
We had previously heard rumblings that the President had been toying with this idea, but with the midterms fast approaching it’s apparently going to happen. I’m referring to President Trump’s ill-conceived plan to abandon long-standing EPA policy and allow the sale of E15 ethanol blend gasoline all year. (It’s currently limited such that E15 can’t be sold during the summer months.) There’s really only one reason for the President to do this, and Politico points out the obvious. This is all about Iowa politics.
President Donald Trump has ordered the Environmental Protection Agency to expand sales of corn ethanol, a senior White House official said on Monday, delivering a gift to farm state Republicans a month before the midterm elections.
The move ends months of bitter behind-the-scenes fighting between corn backers and the oil industry over Trump’s calls to increase ethanol sales, and it could benefit Iowa’s Republican governor, who is trailing her Democratic challenger in the polls, as well as at least two Iowa House incumbents who are also vulnerable. But the oil industry’s most powerful trade group immediately said it will fight to block the action.
Trump is expected to announce the change on Tuesday in Washington before leaving for a rally in Council Bluffs, Iowa.
Comments
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Not an issue for me. Winners win.
I run no-ethanol premium gas.
Superior hp, cleaner, fewer maintenance issues -
And 75 cents more a gallon.sarktastic said:Not an issue for me. Winners win.
I run no-ethanol premium gas.
Superior hp, cleaner, fewer maintenance issues -
- Increased mpg
- have you priced new turbos recently? -
The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
Car makers love it because over time ethanol destroys your engine. Glad I changed to diesel a couple years back.
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You mean like the last collapse that was largely caused by government intervention in the housing markets and artificially low interest rates set by the fed? Thanks for literally illustrating the cartoon to make my point.2001400ex said:
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
There wouldn't have been a meltdown if banks didn't lend on stated income loans and actually had standards for who they were giving loans too. And big business didn't fire half the company. There's a whole host of causes. But wall Street created the mess, fired half the workforce, then asked for a bailout.UW_Doog_Bot said:
You mean like the last collapse that was largely caused by government intervention in the housing markets and artificially low interest rates set by the fed? Thanks for literally illustrating the cartoon to make my point.2001400ex said:
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
And banks would have never made those loans if the Government hadn't created the secondary mortgage market with the creation of Fannie and Freddie. Wall Street definitely exacerbated the problem but the problem would have never gotten as large as it did without the creation of Fannie and Freddie.
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Yes, if only businesses ignored market factors the way the government would like them to it would all work out so well.2001400ex said:
There wouldn't have been a meltdown if banks didn't lend on stated income loans and actually had standards for who they were giving loans too. And big business didn't fire half the company. There's a whole host of causes. But wall Street created the mess, fired half the workforce, then asked for a bailout.UW_Doog_Bot said:
You mean like the last collapse that was largely caused by government intervention in the housing markets and artificially low interest rates set by the fed? Thanks for literally illustrating the cartoon to make my point.2001400ex said:
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
and asking for bail outs is a form of rent seeking, hth. Now we have a market where even market funds are essentially FDIC insured, that should work out well for us long term.
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Why were lenders still able to give loans to people who didn't have the income to make the payments on those loans? Surely a bank wouldn't loan to someone if they thought they weren't going to get repaid. That is unless the lender knew that he was never going to have to keep that loan on his books. Now, what was it that allowed the lender to move all of those questionable loans off of their books?2001400ex said:
There wouldn't have been a meltdown if banks didn't lend on stated income loans and actually had standards for who they were giving loans too. And big business didn't fire half the company. There's a whole host of causes. But wall Street created the mess, fired half the workforce, then asked for a bailout.UW_Doog_Bot said:
You mean like the last collapse that was largely caused by government intervention in the housing markets and artificially low interest rates set by the fed? Thanks for literally illustrating the cartoon to make my point.2001400ex said:
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order. -
SFGbob said:
Why were lenders still able to give loans to people who didn't have the income to make the payments on those loans? Surely a bank wouldn't loan to someone if they thought they weren't going to get repaid. That is unless the lender knew that he was never going to have to keep that loan on his books. Now, what was it that allowed the lender to move all of those questionable loans off of their books?2001400ex said:
There wouldn't have been a meltdown if banks didn't lend on stated income loans and actually had standards for who they were giving loans too. And big business didn't fire half the company. There's a whole host of causes. But wall Street created the mess, fired half the workforce, then asked for a bailout.UW_Doog_Bot said:
You mean like the last collapse that was largely caused by government intervention in the housing markets and artificially low interest rates set by the fed? Thanks for literally illustrating the cartoon to make my point.2001400ex said:
Question. When the free market needs money during economic collapse. Where does it come from? Axin for a fren.UW_Doog_Bot said:The term "Crony Capitalism" is a progressive re-branding of the term Rent Seeking.
[Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth. Rent-seeking implies extraction of uncompensated value from others without making any contribution to productivity.]
It is a trademark failure of a centrally(government) planned economy and not one of free markets aka capitalism. Freer more "capitalist" markets = less Rent Seeking or "crony capitalism"
The Left points to capitalism as the cause of Rent Seeking, or "crony capitalism", and demands ever more government intervention to solve an issue that is caused by government intervention in the first place.
Both the Left and the Right are guilty of rent seeking for their favored industries. The term "crony capitalism" just pisses me off as it is a form of double speak at its highest order.
https://www.govtrack.us/congress/votes/106-1999/h570
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Hondo showing he doesn’t understand basic economics... again.
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Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
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And this Kunt accuses others of relying on talking points.2001400ex said:
Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
Repealing Glass-Steagall had nothing to do with the mortgage market meltdown. Bravo Hondo, your streak of dumbfuckery is still intact. -
That's the talk around here. If you ask sledog it's was purely that repeal and the community reinvestment act. But ok!SFGbob said:
And this Kunt accuses others of relying on talking points.2001400ex said:
Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
Repealing Glass-Steagall had nothing to do with the mortgage market meltdown. Bravo Hondo, your streak of dumbfuckery is still intact. -
But I'm not talking to Sledog, I'm talking to you and you just put your head up your ass. Hondo stick to topics you actually know something about, like posting "funny" pictures and tonguing Coug's ass.2001400ex said:
That's the talk around here. If you ask sledog it's was purely that repeal and the community reinvestment act. But ok!SFGbob said:
And this Kunt accuses others of relying on talking points.2001400ex said:
Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
Repealing Glass-Steagall had nothing to do with the mortgage market meltdown. Bravo Hondo, your streak of dumbfuckery is still intact. -
I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
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Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
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Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
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You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession. -
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession.
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There isn't just one thing. Fannie and Freddie was one component but not the biggest. Banks lending money to unqualified people was the biggest factor. You are correct on the rating agency bullshit and them packaging shit mortgages and selling them to free up more capital to lend more was an issue. Then the selling of derivatives of those bullshit mortgage packages made it even worse.SFGbob said:
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession. -
Started by Jimmy the Peanut and expanded by Wet Willy Clinton. Run by Faggy Barney Frank and his boyfriend. All Commiecrats. HTH2001400ex said:
There isn't just one thing. Fannie and Freddie was one component but not the biggest. Banks lending money to unqualified people was the biggest factor. You are correct on the rating agency bullshit and them packaging shit mortgages and selling them to free up more capital to lend more was an issue. Then the selling of derivatives of those bullshit mortgage packages made it even worse.SFGbob said:
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession.
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Breathtaking stupidity2001400ex said:
There isn't just one thing. Fannie and Freddie was one component but not the biggest. Banks lending money to unqualified people was the biggest factor. You are correct on the rating agency bullshit and them packaging shit mortgages and selling them to free up more capital to lend more was an issue. Then the selling of derivatives of those bullshit mortgage packages made it even worse.SFGbob said:
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession. -
Wasn't trying to argue, just wanted to call you a dumbfuck. HTH.2001400ex said:
Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
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Now you can answer the questions I asked in my initial post. You know the one where you posted the vote totals for the repeal of Glass-Stegal. Without Fannie and Freddie, and the creation of the secondary mortgage market and the widespread securitization of home loans, banks would have never made those loans in the first place. If those loans would have stayed on the books of the banks that did the lending you would have never had people making liar loans, no money down, zero interest loans.2001400ex said:
There isn't just one thing. Fannie and Freddie was one component but not the biggest. Banks lending money to unqualified people was the biggest factor. You are correct on the rating agency bullshit and them packaging shit mortgages and selling them to free up more capital to lend more was an issue. Then the selling of derivatives of those bullshit mortgage packages made it even worse.SFGbob said:
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession.
I never claimed it was just one thing that led to the Financial meltdown. But Glass-Stegal had little if anything to do with mortgage meltdown. That's a lib talking point with no validity. But if you were to go back in a time machine and change one thing, stopping the creation of Fannie and Freddie would have halted the series of actions and events that followed that led to housing meltdown and it's a great example of how Government distorts the free market often with disastrous consequences. -
He pretty much does that on his own with everyone of his responses.CuntWaffle said:
Wasn't trying to argue, just wanted to call you a dumbfuck. HTH.2001400ex said:
Great argument as always.CuntWaffle said:Hondo showing he doesn’t understand basic economics... again.
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Yep, one of the ways the banks were initially enticed to make loans to people who previously didn't have the credit and income scores to get a mortgage was the lowering of the standards Freddie and Fannie used in order to purchase the originals loans. Bank balked when they were initially being pressured to issue more sub-prime loans. To overcome their resistance the Feds used some stick (we're going to hold up your merger or expansion) and a lot of carrot, you won't have to keep those loans on your books, Freddie and Fannie will buy those loans from you.RaceBannon said:
Breathtaking stupidity2001400ex said:
There isn't just one thing. Fannie and Freddie was one component but not the biggest. Banks lending money to unqualified people was the biggest factor. You are correct on the rating agency bullshit and them packaging shit mortgages and selling them to free up more capital to lend more was an issue. Then the selling of derivatives of those bullshit mortgage packages made it even worse.SFGbob said:
Glass-Steagal allowed the banks to get bigger. It didn't create the secondary mortgage market and the relaxing of lending standards or the rating agency fraud. If you really want to look at one item to blame the 2008 financial meltdown on blame Fannie and Freddie. Without their creation you would have never of had climate that existed that led to mortgage meltdown.2001400ex said:
You asked this question.SFGbob said:
Google it. How did that vote total image address anything I said Hondo?2001400ex said:
Ok. Give me your synopsis of the recession.SFGbob said:I love how the dipshit thinks his posting the House vote totals from the repeal of Glass-Steagall addresses even one of the questions I asked. Hondo lets go of the side of the kiddie pool and sinks like a rock.
Now, what was it that allowed the lender to move all of those questionable loans off of their books?
You don't think the glass steagal repeal had anything to do with it?
Now give me your synopsis of the recession.
