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.
