themarketswork

a common sense approach to a liberal world

Populism – The Road Back to Capitalism

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“Many observers have noted that populism is inherent to representative democracy; after all, do populists not juxtapose ‘the pure people’ against ‘the corrupt elite’?” Cas Mudde

Consider these statements I am going to put forth and see if you agree.

  • Globalism is a political goal – not an economic one.
  • Globalism is not the same as Global Integration.
  • Populism is a generalized term to describe the responses by citizens across the world to the failures of their various political parties.
  • What was once called Sovereignty is now dismissed as Populism.
  • Populism is a rightful response against centralized government and central decision-making.
  • Populism is labeled as a movement against free markets and yet the exact opposite is true.
  • Globalism hinders free trade.
  • Globalism begets Socialism.
  • Populism begets Capitalism.

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The Euro’s Failings

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I remember when the European Union, and the creation of the Euro, was being discussed and formulated. I was sitting in an economics class in college.

The European Union would be the culmination of a series of efforts to unify Western Europe – starting in 1951 with the creation of the European Coal and Steel Community (ECSC) and later, the 1957 creation of the European Economic Community (EEC) – which removed many barriers of trade between member nations. Over time, the EEC added additional European nations and expanded its influence and scale. Fast forward to 1987 and the creation of the Single European Act (SEA) which strengthened both legal and foreign policy influence and concentrated the decision-making power of the EEC. It also established a timetable of 1992 for the completion of a common market. And thus, the Maastricht Treaty was signed on February 7, 1992 and formally created the European Union (EU) – it also called for a common currency – the yet to be named Euro.Continue Reading

Birth of an Administration

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Our nation’s best and brightest do not work in Washington.

Our best and brightest work in the private sector. They are on Wall Street and in the financial markets. They are CEO’s of companies. They are running hedge funds. They have created successful start-ups. They are collectors and managers of capital – both financial and human. They have no attraction for a traditional Washington and its hyperactive politics. They can deploy their skills far more successfully, and with far greater reward, in the free and open markets.

And yet they suddenly seem to be gravitating to Trump Tower – and that is of enormous benefit to our country’s future.

What do these folks have in common? They are all in jobs typically vilified by the left. They do not work in government. They are some of the smartest and most capable individuals this nation has to offer. They are driven.

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An Election Too Far?

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This has been an election characterized by low emotions. We’ve all had almost visceral reactions to the tenor (and words) of the entire process.

The 2nd debate reignited those feelings. The attacks from both candidates were like nothing we’ve ever seen before. Trump threatened to appoint a special prosecutor to go after Clinton and Hillary came right out and stated that Donald was unfit to be president. And so much more. An amazing spectacle it was.

It feels wrong, cheapened somehow. Our presidential election should be better, nobler. Continue Reading