Above The Law
- Posted by Jeff Carter
- on January 9th, 2013
In America, we have a two party system. But, we also have a caste system. Either you are in the know and in power courtesy of crony capitalism, or you are a chumbalone.
MF Global’s Jon Corzine is in the know.
NBC’s David Gregory in the know.
James Brinkley is a chumbalone.
Rob Blagojevich is an example of someone that was in the know, but crossed over the line to become a chumbalone.
In the military, there is a saying, “Rank has its privileges.”. RHIP works in the military because there is a chain of command. Sometimes it is abused, and it’s up to officers higher up to bring discipline back to the chain. In the civilian world, we have begun to take RHIP and apply it. Crony capitalists monetize it. They are able to be above the law, above prosecution, and maintain their reputations with networks intact-no matter what they do.
Over and over, we are seeing many types of crony capitalism executed for fun and profit. I recall during the Bush era how liberals screamed bloody murder over government contractors getting business from Iraq. They were upset that no environmentalists were included in discussions of energy policy.
Occupy Wall Street was a chumbalone movement, screaming about bank bailouts when the root of the problem was big givernment.
The Obama administration has seen massive increases in crony capitalism. The scale is magnificent. Green energy boondoggles, government program boondoggles. Each boondoggle costs taxpayers millions and billions.
While the warring factions may not agree on the means to the end, they ought to at least agree to end crony capitalism. There is only one solution to that. End big government. Enact term limits for every elected legislative office.
Government service should be about service to your country, not using government to serve you.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
Jeffrey Carter is an angel investor and independent trader. He specializes in turning concepts into profits. He co-founded Hyde Park Angels one of the most active angel groups in the United States in April of 2007. He previously served on the Chicago Mercantile Exchange Board of Directors. He has done market commentary for (More...)