DAILY RECKONING CONTINUES TO GET THIS ONE WRONG

I enjoy The Daily Reckoning, insofar as it provides an alternative viewpoint to mainstream analysis.

But its extreme right-wing opinion that there’s no role for government when it comes to business is so Ayn-Randian Right it offers no genuine response to wild-eyed lefties nor to the mainstream. It’s just plain wrong.

The boys at The Daily Reckoning might even have written the screenplay for Atlas Shrugged.  It makes me shudder that these guys could actually be sitting in a theatre nodding their approval at the claptrap that spilled from what must be the worst movie of 2012.

Has it been released here yet? I saw Atlas Shrugged in New York in October and envied my wife for nodding off throughout much of it. How I would have loved to have slept through all that excruciatingly arrant nonsense!

It’s like this guys. Free enterprise is a great thing.  The corporatisation of natural monopolies aint. The ONE thing a government MUST do is to capture the rent of our natural resources instead of taxes, because they are OUR rents – any surplus after necessary government revenue to be distributed to citizens as a dividend.

Leave the operators their profits, but NOT the super-profits which are our natural resource rents.

Otherwise you’ll have the 0.01% continuing to become obscenely rich at the expense of we 99.99%; the 99.99% losing their purchasing power, getting into too much debt, and economies grinding to a halt – like now.

It’s easily fixed, of course. Let’s have true FREE enterprise, sans the plutocrats stealing our natural resource rents, and without self-defeating taxes on labour and capital.

It works.

But I’ll bet the blokes at The Daily Reckoning haven’t caught up with the case for Georgism, or how our economies have long been run by the rent-seeking plutocrats, like banks.

Guys, do yourselves a favour and read this new insightful account by Brian Czech on how we’ve been dudded. It will expand your mind on how our natural monopolies must be treated – if you’re up for it, that is.