Wednesday, June 15, 2016

Capitalism Always Wins?
"Under communist rule, Vietnam suffered some of the worst economic conditions imaginable: soaring debt, inflation, corruption, unemployment, rampant poverty, and even famine. The central planners created extraordinary mismatches in supply and demand and production inefficiencies. It was just like those old stories from the Soviet Union– too many factories making left boots without any factories making right boots. This lunacy lasted for years, resulting in mass migration and a full-on refugee crisis. Things finally started to change after the Soviet Union collapsed– a giant warning sign that socialism and central planning simply don’t work. By the late 1980s, China, Vietnam, and other Asian socialist states were among the most impoverished countries in the world. Yet market-oriented Hong Kong and Singapore were right next door… and thriving. Eventually they saw the light, and nearly all of these socialist countries started a long, slow conversion to embrace capitalism. It really started in earnest about 15 years ago after Vietnam signed a trade deal with the United States. And since then the changes have been extraordinary. Vietnam is now consistently one of the fastest growing economies in the world. Capitalism ALWAYS wins. Rather than fight the war, the U.S. government would have been a lot better off saying, 'Oh you want to be Communist? Wonderful! You go ahead and enjoy that, and give us a call in 20 years once you’re totally impoverished…' It would have saved a hell of a lot of time, money, and lives. Capitalism always wins because people want the comfort and lifestyle that become possible when talented people have the incentive to work hard and innovate. It doesn’t even really require too much to create these incentives. The recipe is simple: property rights, financial reward, and limited bureaucracy.
Amazingly though, the West seems to be sprinting in the direction of more central planning."
- Sovereign Man
LINK HERE to the essay

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Anonymous said...

EXCLUSIVE: Cryptic NY Filing Reveals Clinton Foundation’s Millions In Foreign Donations Richard Pollock and Ethan Barton on June 14, 2016

Clinton Foundation officials used an obscure New York state charity board filing amendment to disclose that the non-profit received $17.7 million in donations from foreign governments while Hillary Clinton was Secretary of State, the Daily Caller News Foundation has learned.

The specific foreign governments involved and the particular amounts they each gave were not disclosed on the document, entitled “Exhibit A” and filed to the public charity division operated by New York Attorney General Eric Schneiderman, a Democrat. The money was given between 2010 and 2013 when Clinton was America’s chief diplomat.

“There is no doubt that the foundation purposely refused to make public certain things as a way of protecting the Secretary of State during her tenure,” former U.S. attorney Joseph DiGenova charged. “The entire process to hide information from the public is completely inconsistent with a public charity.”

DiGenova predicted that “the new revelations will up the ante for the FBI. This will just add fodder to the ongoing investigation.”

The former federal prosecutor also doubted that the $18 million figure was accurate. “There is no reason to believe that the $18 million figure is complete,” he said, citing the “unreliability” of past foundation accountings. “It may very well be much, much more.”

“One has to wonder what the New York State Attorney General is doing,” DiGenova said. “He’s a very partisan Democrat. And it is readily apparent that he intends to do nothing about the Clinton Foundation.”

Cleta Mitchell of Foley & Lardner law office in Washington D.C. agreed, saying “the Attorney General of New York has a statutory and fiduciary responsibility to conduct an investigation into the Clinton Foundation to determine whether this entity is engaged in fulfilling its charitable mission.”