Category Archives: markets

Regulatory Capture

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…and campaign finance hypocrisy.  Regulatory capture is where companies subject to this or that regulatory body are large enough and financially successful enough to…influence…their regulators and guide the nature and scope of the regulations to which they, and their competitors, are subject.

The most recent presidential campaign filings show that [Senator Elizabeth, D, MA] Warren and [Senator, I, VT (or D, depending on which spin is current] Bernie Sanders—who has called for ramping up antitrust enforcement and taking on the big tech companies—have each attracted large amounts of contributions from people connected to Google and other tech companies.

As The Wall Street Journal noted just ahead of that cite,

No other candidate for the Democratic presidential nomination has been as eager to call for the breakup of Google as Sen. Elizabeth Warren.

Therein lies the hypocrisy: these two, along with many of their fellow Progressive-Democratic Party Presidential candidates, argue most vociferously for getting Big Money out of campaign finance.

Alphabet Censorship

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They’re at it again.  This time, it’s Alphabet’s YouTube, owned through Alphabet’s subsidiary Google that’s inflicting censorship.

YouTube has blocked some British history teachers from its service for uploading archive material related to Adolf Hitler, saying they are breaching new guidelines banning the promotion of hate speech.

Alphabet restored the censored data, but only after it had gotten caught in its censorship and the ensuing uproar got too uncomfortable.

Alphabet’s censorship was because the material consisted of

content that promotes hatred or violence against members of a protected group.

Yeah—the protected group here was Alphabet’s censors.

One of the victims of this censorship, though, seems to have missed the lesson.  Scott Alsop owns the MrAllsopHistory website saw Alphabet censor his efforts to upload archival Hitler imagery and video clips because Alphabet disapproved of them.

I fully support YouTube’s increased efforts to curb hate speech, but also feel that silencing the very people who seek to teach about its dangers could be counter-productive to YouTube’s intended goal[.]

“Counter-productive?”  Well, NSS.

Alphabet’s IT personnel are professional folks, fully versed in what they’re doing.  So are Alphabet’s folks responsible for testing IT’s…fixes.  This failure shows that Alphabet either did this deliberately and got caught—to stop people being radicalized, because these Precious Ones know better than their users—or it demonstrates the inevitable outcome of well-intentioned incompetence.

Either way, censorship itself is a failure that directly attacks free speech.  Some speech is inherently uncomfortable.  The discomfort, though, is in the perception of the hearer (who plainly is not a listener) and not at all in the speech of the speaker.  The hearer can listen better or stop paying attention to the speaker altogether.  The hatefulness of other speech is in the speaker, true enough, but those who receive the speech still have only two choices: stop attending to the speaker, or answer him with their own speech.

The Alphabets of the world—private enterprise, as in the present case, or government man—have no business dictating to us what they, in their precious awesomeness, will presume to permit us to say.  Or to hear.  And we have no business sending them our money in the form of buying their product, nor do we have any business electing them to office.

Bad Policy

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Recall that President Donald Trump has threatened a sequence of rising tariffs on all Mexican goods in an effort to get Mexico to take seriously its broad contribution to the crisis we have on our border with that nation.

Republican lawmakers are gearing up for a vote to potentially override President Trump’s planned tariff on Mexico this month….

These lawmakers are concerned that the tariffs could jeopardize passage of the USMCA, and they’re worried that they will hurt Americans.  These folks have lost sight of some important facts.

One is that, after the announcement of the upcoming tariffs, the Mexican government said it intended to move ahead with ratification of the USMCA. The only ones in the way of its final acceptance are Congress’ Progressive-Democrats, who generally don’t like the deal in any event, and these Republicans.

Another is that international trade, including tools of international trade like tariffs, have nothing to do with economics and everything to do with foreign policy.

A third is the nature of conflict.  These Republicans need to understand that no conflict is bloodless for either side.   They need to stop worrying so much about their own stubbed toes and consider the effect these particular tariffs would have on Mexico and whether they just might have the intended effect.

Any attempt by Congress to get in the way can only undermine Trump’s foreign policy move to push Mexico to get serious about those whom Mexico is allowing illegally to cross its own southern border and the resulting flow of these illegal aliens north to illegally enter our country.

Senate Majority Whip John Thune (R, SD):

Congress is going to want to probably be heard from.

If Congress wants to be heard from, it should get serious about immigration, beginning with immigration legislation, that beginning with something akin to Trump’s offer of a year or so ago that offered a path to legalization for DACA beneficiaries plus a million more who were similarly situated.  Along with the means to better physically secure our own southern border.

A Nutshell

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On the matter of the House voting up the US Mexico Canada Agreement, the trade agreement agreed among the US, Canada, and Mexico to replace NAFTA, Congressman Gerry Connolly (D, VA) had this to say:

Given his behavior, I don’t see some great groundswell of support for this on our side of our aisle. I’m a free trader and I’m in no rush to approve this agreement.

That is the Progressive-Democratic Party’s hysterical anti-Trumpism in a nutshell. Party opposes the USMCA over Trump’s behavior; its opposition does not consider the merits or lack of merits in the agreement.

Never mind that Mexico’s President Andrés Manuel López Obrador has said his government will proceed with ratifying the USMCA despite President Donald Trump’s threat to impose tariffs on Mexico over the latter’s “migrant” flow failures.

Another Hollywood Culture War Campaign

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[Robert, Chairman and CEO of The Walt Disney Company] Iger told Reuters [last] week that it would be “very difficult” for Disney to continue filming its movie and television content in Georgia if a new state abortion law takes effect.

This is the same Bob Iger whose company enthusiastically operates a theme park and peddles movies in the People’s Republic of China, which government spies on its citizens with, among other things, facial recognition software and which government has locked up millions of PRC citizens—Muslim Uighurs, for the most part, but not exclusively—in “reeducation” camps reminiscent of the worst of Mao’s camps.

Since neither Iger nor Disney has any concern for the lives of aborted babies or for the principles of freedom generally, it will be far more than very difficult (no quotes necessary) for me to patronize any Disney movies, parks, or other product or service.

It will be impossible for me to do so.