Republican presidential candidate Sen. Marco Rubio, R-Fla., speaks during a Republican primary night celebration rally at Florida International University in Miami, Fla., Tuesday, March 15, 2016. (Photo: AP)
Sen. Marco Rubio posted a statement on social media on Monday saying he “will not seek” and does “not want to be considered for Vice President.” The freshman senator, who was defeated by presumptive Republican nominee Donald Trump in his own state, has remained largely quite and out of the public eye since he suspended his campaign for president on March 15.
While Republican voters have chosen Donald Trump as the presumptive GOP nominee, my previously stated reservations about…
Worth noting, the campaign for Texas Sen. Ted Cruz has leaked an alleged story to CNN claiming their polling showed they could’ve beat Donald Trump if Sen. Rubio agreed to be the vice presidential nominee. For the record, we at PPD do not buy this story or their assertion. Our polling simply did not support that theory. In fact, many of Sen. Rubio’s supporters had already shifted to Cruz at that period and more went to Mr. Trump as time went on.
The Cruz campaign polled in three March 15 primary states, Illinois, Missouri and North Carolina — though not in Ohio, home to Kasich, or in Florida.
They also tested the matchup in a poll in Arizona, which would hold its contest on March 22, and in Wisconsin, which would hold its primary on April 5…
“Blowout,” said a source close to Cruz. “65%-35%,” with Trump losing…
But Cruz could not reach [Rubio] on the phone, and others reported back to the Cruz campaign that Rubio did not seem interested in having a discussion about this at all.
“He went off the grid,” said a source close to Cruz. Cruz campaign officials speculated that Rubio was interested in preserving his political viability for a contested GOP convention or the 2020 race.
This great publication is the first thing I check when I want to see whether a country leans in the direction of markets or whether it is burdened by a lot of statism. And it allows for meaningful comparisons between nations since it relies on global data sources.
But not all economic variables have good data sources that allow apples-to-apples comparisons. It’s very difficult to measure the degree to which various governments interfere with the price system by imposing controls (either minimum or maximum price limits).
Identifying the degree of cronyism in an economy also is a challenge since there are not reliable numbers for the degree to which politicians in various nations provide favors for particular firms or sectors.
So I was very interested when I saw that the Economist has put together a ranking that shows the degree to which a nation’s billionaires either earn their wealth via markets or cheat their way to wealth via cronyism.
It obviously doesn’t cover nearly as many nations as Economic Freedom of the World, but perhaps the folks at the Economist have come up with a methodology that eventually will allow a specific measure of cronyism in the future.
The article explains how the rankings were derived.
…for the past 20 years, from Malaysia to Mexico, crony capitalists—individuals who earn their riches thanks to their chumminess with government—have had a golden era. Worldwide, the worth of billionaires in crony industries soared by 385% between 2004 and 2014, to $2 trillion. The Economist’s crony-capitalism index tries to measure the extent of this graft for a number of important countries.Industries that have a lot of interaction with the state are vulnerable to crony capitalism (a full list of industries is provided in the table below). These activities are often legal but always unfair (Donald Trump, a casino and property tycoon, earns the 104th spot in our individual crony ranking). …Germany is cleanest, where just a sliver of the country’s billionaires derives their wealth from crony sectors. Russia fares worst in our index: wealth from the country’s crony sectors amounts to 18% of its GDP.
I’m glad to have these new numbers, but I’m not completely sold on the methodology used by the Economist.
Is all banking and finance really cronyism? That seems a bit of a stretch. While there are some indications that Warren Buffett is now a cronyist, I’m not aware of any evidence suggesting he used government connections to become rich in the first place.
And what about energy and chemicals? That description may apply to some rich people in the U.S. and elsewhere, but there are plenty of examples (the Koch brothers) of billionaires in this sector that have earned their wealth.
And speaking of wealth, why did the article compare wealth (which is a stock) and GDP (which is a flow)? I realize the Economist needed some sort of benchmark, but they chose an approach that has dubious methodological value.
All that being said, I suspect that the countries near the top of that list have a genuine problem with cronyism and the ones near the bottom do a better job of letting market forces operate.
So congratulations to Germany and South Korea and boos for Russia and Malaysia.
And a bit of applause for the United States. We have some egregious forms of cronyism that benefit the undeserving rich, but most American billionaires apparently earn their money.
Now let’s zoom out and look at the historical case against cronyism with this superb video from Prager University.
From an economic perspective, too much government spending is harmful to economic performance because politicians and bureaucrats don’t have very good incentives to spend money wisely.
By contrast, there’s a bottom-line incentive in the private sector to use resources wisely. This generates the most prosperity for society because the only way to earn income in a free market is to produce goods and services that other people value.
That’s sort of a macro perspective.
From a micro perspective, when government allocates money, you can only make yourself better off by taking from others. In a market economy, you make yourself better off by serving others.
In other words,enlightened self interest (you can even call it “greed” if you prefer) is channeled productively in a free market system, as Adam Smith observed several hundred years ago.
Whoever put this together was quite clever to highlight the fact that people in the private sector generally buy in the top-left quadrant while people in government generally buy in the bottom-right quadrant.
And if you want to see the late Milton Friedman discuss this concept, here’s a video for your viewing pleasure.
[brid video=”37110″ player=”2077″ title=”Milton Friedman The Four Ways to Spend Money”]
I’ll simply add a few observations. One of the reasons I often compare market-oriented nations and government-oriented nations is to highlight how countries are more likely to become prosperous when most resources are allocated by private decisions rather than political decisions.
Mitch McConnell and Paul Ryan attend a bust unveiling ceremony for former Vice President Dick Cheney in the Capitol Visitor Center’s Emancipation Hall, Dec. 3, 2015. (Photo: Tom Williams/CQ Roll Call/AP)
There are existential threats to the United States of America. I, for one, am tired of the Republican Party doing nothing about them. So, I’m ready for a change.
For all of you self-styled “conservatives” out there. The ones screaming in petrified unison that Donald Trump is not a conservative. You know who you are. The ones who signed a pledge to support the nominee of the Republican Party and then broke that pledge. Before you go to war with Republican voters, get off your self-righteous horse and answer some simple questions.
First, we are approaching $20 trillion in debt on our way to $30 trillion in a heartbeat. Soon we not be even able to service this debt, much less pay it off. You did nothing about this when you were in power, even when you held the power of the purse. In fact, you just upped the debt a trillion dollars in six months and funded all of Obama’s programs. Don’t lecture me about a conservative fiscal agenda and how you are the “conservatives” in the room.
You were an equal branch of government and did nothing. I sincerely doubt you will do anything about it in the future if given power. Don’t lecture me about how your ‘agenda’ is more conservative than Trump’s. You enabled this debt because you are bought and sold by special interests. You wanted to get reelected above all else so you could serve your globalist masters. You are not for the common man and the people know it. They have figured it out. Trump will deal with the debt.
Second, uncontrolled illegal immigration is killing America. It is hurting the American worker. It is killing our culture of the rule of law and bursting our entitlement budgets. Illegal immigrants are literally, routinely killing Americans. You didn’t care. You still don’t care. You enabled this great cancer eating at the American soul. You did nothing about this since the Clinton presidency. You did nothing because your masters wanted cheap labor. Admit it. You could have built a wall and you didn’t. You could have stopped it and you didn’t. And don’t say I’m a racist. Immigration is a wonderful thing—IF done legally. Trump will deal with illegal immigration.
Third, federal involvement in education is killing our culture and our children’s future. The Left has absconded with our university system and is creating socialist zombies who can’t survive in the real world and demand free stuff. The Left is winning the second act of the Cold War subtly through education and you’ve done nothing about it. You enabled Common Core. In fact, the 3rd Bush was its standard bearer. You refused to do anything to do anything about shrinking the size of the federal education bureaucracy, even when you controlled the power of the purse or the executive branch. Trump will shrink the Department of Education and send education back to the local level.
Lastly, Obamacare. You allowed it to continue. You held the power of the purse and didn’t stop it. Our healthcare system has been destroyed, while you were more worried about being reelected. Trump will install a market based, competitive healthcare system. You talk about limited government but the government keeps growing. You don’t stop it when you have the power. So, why are you calling yourself a conservative? You’ve had your chance and you blew it.
These four issues alone are enough for anyone who loves this country to vote for Trump. All your think tanks, magazines, angry ‘conservative’ journalists, and highbrow talking points won’t hide the fact that the Republican Party has been complicit as these cancers metastasize to stage four in America. All the other issues don’t matter. Bathrooms, minimum wage, Planned Parenthood, et cetera won’t put a sword through the heart of America in the next few years. These issues will.
If you don’t vote in November, or vote for Hillary Clinton, or a third party, America as we know it will die. It’s that simple. I want better for my children.
(H/T This article was first published on L. Todd Wood’s “Threat Assessment” via The Washington Times)
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President Barack Obama stands with House Speaker Paul Ryan of Wis. in Emancipation Hall on Capitol Hill in Washington, Wednesday, Dec. 9, 2015, during an event to celebrate the 150th anniversary of the 13th amendment that abolished slavery. (Photo: AP)
House Speaker Paul Ryan, R-Wis., reportedly has suggested that he’d be willing to step down as the chairman of the Republican Convention if Donald Trump asks him to do so. The report comes as the two gear up to meet in Washington, D.C. on Thursday to discuss the party platform and the divide over the direction the party should move in the future.
Speaker Ryan caused a political firestorm when he refused to endorse Donald Trump, the Republican Party’s presumptive presidential nominee. During an interview last week with Jake Tapper on CNN, the 2012 vice presidential nominee said he was “not ready” to support Mr. Trump.
The presumptive nominee fired back with a statement saying he isn’t ready to support Speaker Ryan’s legislative agenda. As PPD reported, Mr. Trump’s differences on trade and immigration directly threatens Speaker Ryan’s top benefactors (donors).
Former House Speaker Newt Gingrich, R-Ga., the last well-liked conservative Republican to hold the gavel, criticized Mr. Ryan for his statements, which he called a “big mistake” and irresponsible. Meanwhile, Republican National Committee Chairman Reince Priebus, a fellow-Wisconsinite and personal friend to Speaker Ryan, brokered the meeting between the two men following the dust up.
Paul Ryan said that I inherited something very special, the Republican Party. Wrong, I didn't inherit it, I won it with millions of voters!
North Carolina Gov. Pat McCrory appears on Fox News Sunday with Chris Wallace on May 8, 2016. (Photo: Fox News Sunday)
North Carolina Gov. Pat McCrory on Monday filed a lawsuit against the Justice Department over its challenge to the state’s controversial transgender bathroom law. Gov. The lawsuit is a declaratory judgment action asking the federal courts to clarify federal law and it comes in response to an ultimatum sent by the Obama administration.
“The Obama administration is bypassing Congress by attempting to rewrite the law and set restroom policies for public and private employers across the country, not just North Carolina. This is now a national issue that applies to every state and it needs to be resolved at the federal level,” Gov. McCrory said in a statement. “They are now telling every government agency and every company that employs more than 15 people that men should be allowed to use a women’s locker room, restroom or shower facility.”
The state law requires transgender people to use bathrooms that match the sex printed on their birth certificate and it applies only to government offices, universities and road-side rest stops, not every bathroom in the state. However, the Justice Department sent a letter on Wednesday May 4 claiming the law violates the federal Civil Rights Act of 1964. To be clear, the Civil Rights Act was intended to protect racial minorities against discrimination in education and the workplace. There are separate laws targeted toward gender, but they are meant to protect women, not men who say they are women and visa versa.
“The Civil Rights Act of 1964 does not address gender or sexuality,” said Judge Andrew Napolitano, a columnist at PPD and Fox News’ senior legal analyst. “This is a typical clash of a 50-year-old statute that was written in a time when transgender wasn’t even an issue.”
The lawsuit argues the government is basing their opposition to the law on a “radical interpretation” of the Civil Rights Act. Gov. McCrory and the legislature faced the choice of either tossing the state’s law or face legal action from the federal government and the loss of federal funds. When he requested an extension, the Obama administration granted him only until the end of business day Monday.
“I don’t think that three working days is enough time for such a pretty big threat,” he said on an appearance on Fox News Sunday. “It’s the federal government being a bully, making law.”
Meanwhile, the Obama administration will push the issue of transgendered bathrooms even further. They will seek to ensure transgender students are protected under federal law. A source in the White House, who spoke on the condition of anonymity, said the push will cite a federal law that prohibits sex-based discrimination in federally funded education programs and other related activities. The source said the president will deploy multiple agencies in a multi-pronged approach.
Gov. McCrory, a Republican targeted by Democrats and facing a tough reelection, said he on Sunday he was exploring “all legal options” before the deadline. He warned the issue has widespread implications that will reverberate far beyond the borders of North Carolina.
“I’m taking this initiative to ensure that North Carolina continues to receive federal funding until the courts resolve this issue,” said Gov. McCrory.
Rapper Azalea Banks had her Twitter account suspended after she tweeted her support for Donald Trump and slammed Hillary Clinton for how she treats minorities. Worth noting, the social media giant, which has struggled financially in the last few quarters to keep pace with Facebook, took no such action when Ms. Banks tweeted out far more egregious statements about Sarah Palin.
In fact, previously Ms. Banks had some pretty harsh things to say about Mr. Trump, who has been the Republican frontrunner and now presumptive nominee for the party. Again, Twitter took no such action until she tweeted over the weekend that Mrs. Clinton, the former secretary of state and Democratic frontrunner, treats black people like pets.
Twitter users responded:
Azalea Banks endorsed Trump, now her accout suspended. That is crap. We love you for your endorsement #AZALEABANKS
Last month, Facebook actually announced they will monitor and censor news to promote leftwing politics and stifle the conservative message. Ms. Banks is far from a conservative, judging by her past statements, but she joins a long list of celebrities (currently nearing 50) who have surprisingly gone public in support of Donald Trump.
Democratic presidential candidates Hillary Clinton, left, and Vermont socialist Sen. Bernie Sanders, right. (Photo: Win McNamee/Getty Images; Joshua Lott/Getty Images)
While Hillary Clinton won the Guam Democratic Caucus on Saturday, her net 1 delegate haul was swamped by Bernie Sanders being awarded 49 more delegates in Washington state. According to a district-level breakdown of the state’s primary results, Sen. Sanders netted 22 more delegates than Mrs. Clinton out of the 101 delegates awarded.
Mrs. Clinton, the party frontrunner, picked up 18 of the remaining district-level delegates. With the 9 delegates she won on Election Day, her total haul increased to 27. Still, even though the newly awarded delegates won’t give Sen. Sanders an edge needing to win 66% of the remaining pledged delegates, he remains a thorn in her side as the other side of the aisle wraps up their nomination process.
Donald Trump, who is expected to sweep almost all of the remaining states, became the presumptive nominee following his win in Indiana, a strange twist of events that the vast majority of the experts expected to be the case for Mrs. Clinton.
Clinton entered Saturday with 1,683 pledged delegates, to 1,362 for Sanders, according to the PPD delegate tracker. Now, the total of pledged delegates has Mrs. Clinton leading Sen. Sanders 1705 to 1415. With superdelegates, she leads 2228 to 1454.
Meanwhile, in Guam, Mrs. Clinton won nearly 60% of the vote in Guam, though she was only awarded 4 delegates to 3 for Sen. Sanders. The Western Pacific island has just seven pledged delegates, thus both Mrs. Clinton and Sen. Sanders only reserved five-figure ad buys.
Sen. Sanders went into the Guam Caucus with the momentum, having won the Indiana Democratic Primary earlier this week. He is likely to score another victory this Tuesday in the West Virginia Democratic Primary, where he has a lead in recent polling and the PPD average.
North Carolina Gov. Pat McCrory appears on Fox News Sunday with Chris Wallace on May 8, 2016. (Photo: Fox News Sunday)
UPDATE: North Carolina Gov. Pat McCrory on Monday filed a lawsuit against the Justice Department over its challenge to the state’s controversial transgender bathroom law.
The state was facing a Monday deadline set by the Obama administration to respond to its demand that North Carolina either scrap the law or face legal action and risk losing federal funds.
ORIGINAL STORY
North Carolina Republican Gov. Pat McCrory said he is exploring “all legal options” before a deadline set by the Obama administration over the state’s transgender bathroom law. The showdown was set after the Justice Department gave the state an ultimatum.
Gov. McCrory and the legislature can either toss the state’s controversial transgender bathroom law or face legal action from the federal government and the loss of federal funds.
“The right and expectation of privacy in one of the most private areas of our personal lives is now in jeopardy,” Gov. McCrory said in a statement. “We will be reviewing to determine the next steps.”
The state law requires transgender people to use bathrooms that match the sex printed on their birth certificate and it applies only to government offices, universities and road-side rest stops, not every bathroom in the state. However, the Justice Department sent a letter on Wednesday claiming the law violates the federal Civil Rights Act. When he requested an extension, the Obama administration granted him only until the end of business day Monday.
“I don’t think that three working days is enough time for such a pretty big threat,” he said on an appearance on Fox News Sunday. “It’s the federal government being a bully, making law.”
Gov. McCrory, a Republican who was targeted by Democrats and facing a tough reelection, told “Fox News Sunday” he will make a decision by the end of the day. He also said the issue has widespread implications that will reverberate far beyond the borders of North Carolina.
“This is not just North Carolina,” said Gov. McCrory.
One option could be a court challenge. But Gov. McCrory doesn’t have the legal authority to change a law debated upon and passed by the state legislatures, though he signed it into law in March. He said that the expectation that he can is “unrealistic.” To be clear, the Civil Rights Act was intended to protect racial minorities against discrimination in education and the workplace. There are separate laws targeted toward gender, but they are meant to protect women, not men who say they are women and visa versa.
The Justice Department decision, if allowed to stand, will impact every single university that receives federal funding.
Meanwhile, the Obama administration will push the issue of transgendered bathrooms even further. They will seek to ensure transgender students are protected under federal law. A source in the White House, who spoke on the condition of anonymity, said the push will cite a federal law that prohibits sex-based discrimination in federally funded education programs and other related activities. The source said the president will deploy multiple agencies in a multi-pronged approach.
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