Viewing entries tagged
Labor

Brexit: Good Riddance Goldman Sachs

Goldman Sachs has threatened to leave London after the UK leaves the EU. That's like cancer threatening to leave your body.

Goldman Sachs is the co-creator of the 2008 American recession, and the primary creator of the Wall Street Bailout, in which hundreds of billions of dollars were stolen from producers and given to financial parasites. They then contributed to the Greek financial collapse.

There are some companies that you just don't want around. Halliburton, Monsanto, and Goldman Sachs are at the top of the list. These companies are rich, but their wealth comes from cronyism and corruption, not from the creation of value.

They are the worst of the crony capitalists. They produce nothing of value, but instead manipulate government into making them rich at the expense of hard working producers.

No country needs companies who get rich off of government sanctioned theft instead of productivity. Imagine how much better off America would have been if companies like Goldman Sachs had not turned a minor housing surplus into a massive financial catastrophe.

As Britain transition from a cronyist, EU economy into an innovative, independent one, it will need great innovators and producers. It will not need reckless financial parasites. It will not need the company whose largest financial success in its history was getting bailed out for its staggering incompetence.

The only possible downside of Goldman leaving London: they might bring more of their people to America. While jobs are usually good, it's never great to have parasitic, crony capitalist, corporate welfare queens around. Maybe we can ask Trump to build a wall to keep them out.

In Liberty,

Arvin Vohra
Vice Chair
Libertarian National Committee

Brexit: Positive Market Readjustment

In a couple hours, you may see the British pound and stock exchanges massively fall. Here's why that's good:

1. For the last several years, investors have been strategically investing in crony capitalists. They have been investing in whichever companies had most political influence to get special favors from EU regulators.

2. With Britain out of the EU, that no longer makes sense. Special favors from EU regulators don't matter as much now in Britain.

3. Investors' first step is to pull money out of stock in those crony capitalist companies. Those corrupt companies just aren't as valuable any more. When investors leave crony capitalists companies, stock prices will obviously fall, and the demand for the pound sterling will also fall.

4. Their next step is to find innovative, productive companies to invest in. It will take several weeks or months to figure out who those companies are. Few investors have been looking, since it didn't matter. In the EU, innovation doesn't matter as much as political influence. But in Britain, innovation will be king.

5. Once investors figure out which new, innovative companies to invest in, demand for British stock and currency will increase again.

As long as Britain can stay competitive by lowering taxes and regulation, its economy will grow. They've thrown off the yoke of the EU. If they can throw off the yoke of their own socialism, they will succeed.

In Liberty,

Arvin Vohra
Vice Chair
Libertarian National Committee

Brexit: Truly Free Labor

Free flow of labor is great - but that's not what the EU provides.

The EU makes it easy to hire workers from within the EU. They make it nearly impossible to hire skilled workers from outside the EU. If you want to hire a skilled engineer from outside the EU...good luck.

In other words: you can hire anyone you like from 28 socialist factories of laziness. But it's much harder to hire anyone from anywhere else.

Dyson, for example, routinely needed to wait four months to hire the engineers it needed. Imagine the struggle of smaller companies!

Britain now has the option to continue that insane policy, if it wants. It can hamstring its own industries by preventing companies from hiring skilled and productive workers from outside the EU.

But it can also turn that policy around without any approval from Brussels.

While the rest of the EU prioritizes refugees, Britain can prioritize engineers. While the rest of the EU makes it easier for people to not work, Britain can make it easier to be productive. Britain can invite the best and brightest from the other 160+ countries. They can help grow industries and create more jobs for Britons.

Britain has its own socialist welfare and statist policies to fight. But if it can overcome them, it can become the center of growth and innovation in Europe.

In Liberty,

Arvin Vohra
Vice Chair
Libertarian National Committee