Rational Nation USA

by: Les Carpenter Rational Nation USA Purveyor of Truth Excerpt from NATIONAL REVIEW ONLINE that highlights the reality that republicans are, and have been as supportive of crony capitalism and corporate welfare as democrats. ... If Republicans in Congress simply do nothing, the New Deal–era Export-Import Bank, which guarantees loans so that American multinationals can sell products overseas, will vanish at the end of September. Last year, the bank backed $37.4 billion in loans, loan guarantees, working-capital guarantees, and export-credit insurance, the vast majority of which went to mega-companies such as Boeing, General Electric, and Caterpillar. Despite Ex-Im’s protestations that it has programs to help women, minorities, and small businesses, the bank is essentially a form of corporate welfare for giant multinationals. As the Wall Street Journal puts it : “If a private bank won’t do an export-financing deal, why should Congress put taxpayer money at risk to clinch the de...

by: Les Carpenter Rational Nation U S A Purveyor of Truth It seems Pope Francis has the GOP is a twist. I can understand this because the Pontiff, being the head Theologian steeped in education and the pursuit of Mysticism really hasn't a clue when it comes to economics, business, or how to run anything other than the Church. Supposedly a purely altruistic and spiritual pursuit. On the other hand we have the ex Randian (for political reasons he later denounced Objectivism) Representative Paul Ryan talking about capitalism and how the Pope, who hails from Argentina, doesn't understand capitalism because all Argentinians have known is crony capitalism. Fair enough. Let us take a look at the definition of crony capitalism and see how it all plays out shall we? Crony Capitalism - An economy that is nominally free-market, but allows for preferential regulation and other favorable government intervention based on personal relationships. In such a system, the false appeara...