Losing our Free Market?

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And not just through Progressive-Democrats’ Big Government demands and planned impositions.  Now it’s fund MFWICs with bugs up their noses about their currently favored special interest, exemplified by BlackRock’s Larry Fink.

BlackRock, along with Vanguard and State Street, are the three most powerful investment funds, holding as they do roughly 20% of the S&P 500 through funds they run for investors.  And now Fink is starting to dictate to the companies his company owns shares in what they must do vis-à-vis climate change, Fink’s issue du jour.

Mr Fink is surely right that investors should worry about climate risks leading to big shifts of capital, and therefore big price moves.

No, Fink isn’t “surely” right, for all that he might be. More likely, the climate-related risks are political, as politicians extend their pandering, rather than empirical.

Regardless, though, Fink’s rightness or wrongness isn’t relevant. What’s important here is that Fink shouldn’t be allowed to dictate to those investors that they must invest according to his diktat rather than in accordance with their own imperatives or read of the factors relevant to their own investing.

The Contempt of the Left

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Progressive-Democratic Party Presidential candidate Joe Biden says it’s time to start censoring private enterprise eliminate protections for tech platforms that publish user posts [emphasis added].

“Section 230 should be revoked, immediately should be revoked, number one,” Biden said in the interview, which was published on Friday.
The law, which was enacted in 1996 as part of the Communications Decency Act, gives websites like Facebook, YouTube, and Twitter broad legal immunity—essentially, it eliminates the possibility of legal consequences over what their users post. The statute was created to protect free speech on the internet.

Biden went further:

…we should be setting standards not unlike the Europeans are doing relative to privacy[.]

This is just more of Progressive-Democrats “be like Europe” sewage.

Biden did more:

[The Times] can’t write something you know to be false and be exempt from being sued. But [Zuckerberg] can….

This…foolishness…is a deliberately false analogy. Facebook isn’t originating content like [The Times] does. A more honest, albeit equally loose, analogy would be to liken Facebook to the distributor of editions of [The Times].  Maybe Biden wants newsstands, or the neighborhood paperboy, censored as responsible for [The Times]’s content.

It is propagating falsehoods they know to be false….

This is yet another example of the utter contempt in which Progressive-Democrats hold us average Americans. We’re just too grindingly stupid, Biden and his fellows insist, to discriminate for ourselves among the false, the erroneous, the satire, the foolish, the uncomfortably true, the simply true, etc. Our Know Betters have to do that for us.

There’s much over which to criticize Facebook, but government censoring free speech isn’t on that list.

Medicaid Block Grants

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The Trump administration is planning to set up procedures for allowing States to convert the Medicaid funding they receive from the Federal government from matching funds to block grants.

The new procedures would represent a large change.

Medicaid funding is open-ended, meaning the federal government matches state spending. If that funding is converted to a block grant, a state could get a limited, lump sum of federal money instead.

There are two key differences here. One is that the funding would go from strings-attached matches to no-strings block grants. The other is that the decision to go to block grants would be each requesting State’s, resulting in less Federal control over that State’s internal affairs.

Of course, this has vested interests twisting in their knickers.

Consumer groups and [Progressive-]Democrats say that limitation means thousands of people could lose Medicaid coverage or be unable to enroll if states’ costs rise or enrollment swells.

This is cynical and disingenuous. Whether a State’s citizens lose or can’t get access to their own State’s Medicaid is a matter strictly for, and wholly under the control of, the politicians and bureaucrats in that State’s government and the citizens who elect those politicians—who are the bureaucrats’ direct bosses.

At bottom, there is nothing at all preventing a State from reallocating its own spending to cover those costs or enrollments. Or of limiting access to ensure the truly needy can get the aid, limits that too often are blocked by those Federal strings.

Political Parties

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Joseph Sternberg, in his WSJ op-ed last Thursday, opined that the Democrats aren’t the only liberal party in collapse, averring that Great Britain’s Labour Party and Germany’s Social Democratic Party are in similar straits. He claimed early in his piece that

three of the West’s major economic powers are undergoing leadership turnover within their main center-left parties.

While the US’ and Great Britain’s leftist parties are threatened with leadership turnover (Germany’s SPD has already undergone one, and it may be continuing), Sternberg is operating under a false premise with most of his claim. Neither the US nor Great Britain have a center-left political party anymore.

The US has only the Progressive-Democratic Party, a far-left party given life by Barack Obama and Hillary Clinton and vigor by Pete Buttigieg, Elizabeth Warren, Bernie Sanders, Alexandria Ocasio-Cortez, Ilhan Omar, Rashida Tlaib, and such (so far) lesser lights as Bill de Blasio and Gavin Newsom.

Great Britain has only its Labour Party, which has gone as far-left in the British political spectrum as has the Progressive-Democratic Party in ours. Labour has been enthusiastically taken there by the party’s continued and continuing leader, Jeremy Corbyn and the party’s own lesser light Sadiq Khan.

It would be good for both our nations did our two actually have center-left parties, but there’s nothing forming even in the wings for either of us.

Impeachment

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Now the House Progressive-Democrats have deigned deliver their Articles of Impeachment to the Senate, and the Senate’s trial will begin in earnest (the Chief Justice of the Supreme Court has been sworn in, and the Senators have been sworn in) tomorrow right after lunch Eastern Time.  There remains speculation about whether the Senate will call additional witnesses in the course of the trial or whether the Senate should simply dismiss the case.

The matter seems clear to my august self.

Under our Constitution, the House has the sole responsibility to conduct an impeachment investigation and to produce the resulting Articles of Impeachment. Further, only the House is allowed to conduct that investigation. Finally, that investigation is entire and complete with the writing of the Articles. Art I, Sect 2:

The House of Representatives…shall have the sole Power of Impeachment.

Under our Constitution, the Senate has the sole responsibility to try the House’s impeachment Articles. Further, that’s all the Senate is allowed to do vis-a-vis impeachment. In particular, it cannot conduct its own investigation. Art I, Sect 3:

The Senate shall have the sole Power to try all Impeachments.

The Senate should hear the cases presented by the House’s and President’s impeachment managers, evaluate the case as presented in the Articles, and then vote to acquit or convict. No further investigation, no witnesses, nothing else at all is required or legitimate.