Eps 593 - Cronyism in America is NOT Free Market

When Tucker Carlson gave a speech to this year's attendants at the Turning Point USA convention, he discussed a very simple idea about the prosperity in America. Can you afford a house in your late 20s or early 30s? He made a point to highlight that GDP doesn't mean anything if you can't afford a house and raise a family. The engineer in me wants to understand the cause of this peculiar insight that Tucker highlighted. If you don't understand a problem, solving is virtually impossible. However, this is commonplace inside our political system. Tucker also talked about how the least impressive people that don't seem to have any skills are getting rich in America while the vast majority of us are getting poorer. The connected class is the subject of today episode where we review an article in The Misesian, authored by Patrick Newman. It's an insightful revision of the economic history from 1948 to 1929. This period set stage for what we now call Cronyism which is now thoroughly entrenched in America's political system.

Cronyism in America - The Misesian - Mises.org

https://mises.org/misesian/cronyism-america

President George W. Bush Bailout Announcement

https://www.youtube.com/watch?v=1SFz6AsUUrQ