God Save The King

Thecrown influence of kings has not disappeared. Kings, queens and chiefs all evolved along the same path. Back in the old days people banded together for protection. In basic societies, the strongest, most powerful and smartest took control. In return for providing protection this person got to live off the efforts of the others in the group.  Kings, for the most part, are gone but the function of the powerful living off others continues.

Today, billionaires are the new kings. I have explained rent seeking on other occasions. Basically it amounts to using political power to privately impose taxes on society in general. In the days when kings did this, they did at least provide protection.  Today government taxes the population but corporations and certain rich individuals also tax to the overall population.  This presents a problem with lowering or eliminating the corporate income tax. A corporate tax of 35% sounds high and it is when compared to corporate taxes imposed in other countries. American corporations have the power to levy taxes as well as bear a responsibility to pay taxes. Obamacare is a good example of a tax imposed by corporations.  Corporations use political power, literally, to extract money out of the people who occupy the country. Make no mistake, when corporations get laws passed to pay them simply because they exist, that is a tax in every sense of the word.

What we are seeing in the 2016 election process are billionaires panicking over the prospect of loosing their king privileges. It has been long observed that human beings will go to greater extremes to hold on to what they have than they will to gain something new. As the fall election gets closer, the efforts of the rent seekers to hold on to power will become totally viscous.  The common word used to describe these folks is “the establishment.” Do not be surprised at attempts on the lives of candidates they cannot control. Should Americans wise up and unseat a large number of incumbents, do not expect them to leave. Chances are just as good that the president will declare martial law for a transition period and then never end up making the transition.

The establishment, as they are called, have no moral compass and will stoop to murder, theft, violence  or any other method to hold on their enormous power.

 

 

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About Fantasy Free Economics

James Quillian independent scholar,free market economist,and teacher of natural law. Who is James Quillian? Certainly I am nobody special, Just a tireless academic and deep thinker. Besides that, I have broken the code with respect to economics and political science. Credentials? Nothing you would be impressed with. I am not a household name. It is hard to become famous writing that virtually no one in the country is genuinely not in touch with reality. But, if I did not do that, there would be no point in my broking the broken the code. If you read the blog, it is easy to see that there are just a few charts, no math and no quantitative analysis. That is not by accident. Given what I know, those items are completely useless. I do turn out to be highly adept at applying natural law. Natural law has predominance over any principles the social science comes up. By virtue of understanding natural law, I can debunk, in just a few sentences , any theory that calls for intervention by a government. My taking the time to understand the ins and outs of Keynes General Theory is about like expecting a chemistry student to completely grasp all that the alchemists of the middle ages thought they understood in efforts to turn base metals into goal. Keynesian theory clearly calls for complete objectivity. Government can only make political decisions. Keynesian techniques call for economic decisions. So, why go any further with that? Fantasy Free Economics is in a sense a lot like technical analysis. Technical analysis began with the premise that it was impossible to gain enough information studying fundamentals to gain a trading advantage. Study the behavior of investors instead. Unlike technical analysis, I don't use technical charts. What I understand are the incentives of different people and entities active in the economics arena. For example, there is no such thing as an incentive to serve with life in the aggregate. In the aggregate, only self interest applies. It is routinely assumed otherwise. That is highly unappealing. But, I am sorry. That is the way it is. I can accept that because I am genuinely in touch with reality. Step one in using Fantasy Free Economics is for me to understand just how little I really know. A highly credentialed economist may know 100 times what I do based on the standard dogma. Compare the knowledge each of us has compared to all there is to know and we both look like we know nothing at all. There is always more than we don't know than what we do know. I am humble enough to present myself on that basis. Why? That is the way it is. I am not bad at math. I have taught math. What I understand is when to use it and when to rely on something else. Math is useless in natural law so I don't use it. While others look at numbers, I am busy understanding the forces in nature that makes their numbers what they are. That gives me a clear advantage.

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