Entries Tagged 'Corruption' ↓

Public Choice Theory

Public Choice Theory  was the brainchild, born in the mid-20th century by two professors, James Buchanan and Gordon Tullock.  These two men were libertarians whose goal in the name of “freedom” was to diminish the  American government to a skeleton level and wipe out its bureacracy in favor of the private sector economy.

Tullock and Buchanan curried favor with wealthy conservative American donors who helped them hold lavish seminars in Florida during summers. The seminars were free for judges and law students. Here Tullock taught judges his theories of economics and politics.

In this century, Tullock’s  dream of converting judges in Florida has reached fruition in the current Supreme Court and the federal courts that we are now seeing.

The Public Choice Approach

Public choice is also called preference voting. Tullock proselytized public choice voting. His words spread among American universities and even over to the pond to a Russian college. Under the moniker of Ranked-Choice voting was recently used in Maine elections.

Gordon Tullock, like Steve Bannon in our century, realized that public choice voting was a way that political minority groups could gain power over majorities. Continue reading →

Thanks to the incessant drone of the media and and social media this century there is a huge split between the “right” and “left” in the U.S.

I look at that split and I feel it only goes to serve the ends of the wealthy to become even wealthier at the expense of the rest of us. Here’s how.

Coronavirus-19 seems to have accelerated that split even faster as we watch the death count in our country rising more and more each day. 

If you don’t believe that corruption lies in D.C. take a look at the chart I just posted on Brucenomics. 

In four weeks, the cream of trillions of dollars was skimmed off by Wall Street, while our President said, “Let them drink disinfectant,” and he urged us to go on contaminating each other by not wearing masks. 

Now on the second-and third- rounds of the “stimulus”, things haven’t changed much. Public corporations are getting money and so are foreign students. The death rates are still underestimated and tests and PPE supplies undelivered.

Now our President is promising a miracle cure in just months. Let’s take a look at the left and right responses to this. Continue reading →

This image by the St. Louis Fed is taken from a Wolf Street article  by Wolf Richter in San Francisco. This picture is worth a 1,000 words….

Total assets on the Fed’s balance sheet from debts of the federal government increase to $608 trillion in four weeks. The stimulus program handed out $1.77 trillion to big banks to loan to their largest customers who pay them the biggest fees. All money was spent in four weeks, bankrupting the original stimulus program.