Economic Freedom Zones?
This is surreal. I generally approve of Rand Paul's stated goals, but this is one has me scratching my head. It's sort of like wealth/debt redistribution by zip code. I can see how success could lead to national implementation, but I don't see any short term benefit to the rest of us unless we all migrate to these zones (maybe that's the point- that many would?).
America does not need government relief, America needs relief from government!
HR
I do not have links to hand but there are a number of similar zones around the world, curious that there is no reference to these in the paper (it loads ok here). From memory all have had at least some moderate success.
Consider, the relative success of Hong Kong and Macao compared with mainland China, and China after the economic freeing up compared with before.
The idea of slicing out an experiment in freedom by a geographical zone could serve as a demonstration to those who have been intellectually crippled by government education - those who have learned nothing from history.
We may need to address the concrete bound thinkers too as we reeducate the electorate to vote for freedom.
In our political climate, ANY advancement toward liberty should be considered a victory.
The point might be: see how many people migrate to these zones.
What is happening instead is that States like Texas are turning themselves into economic freedom zones--of a sort--and encouraging immigration from State to State. But to do the job properly, they're going to have to secede from the Union and risk another civil war. Think Admiral Ragnar Danneskjöld, Commander of the Free Texas Sea Militia. Or simply "The Boz," like Jean Lafitte but without the depredation against private vessels or property.
There was the Confederate War, but that wasn't a civil war because the States seceded to form the Confederacy, therefore it was a war with another sovereign country.
Imagine the per capita debt that would be left to the remaining states if a significant number of states successfully seceded today. Not to mention the overwhelming military assets that would remain under the control of the states that remained!
I do think secession should be a serious threat made by any and all states that find the federal government to be overreaching its constitutional authority, but I don't really think that any states truly have the guts (or the military assets) to back the threat. Am I wrong in this line of reasoning?
Jan
Look how often the EPA, often following UN Agenda 21, and its seeming goal to destroy business and farming, do exactly that with their unproven regulations. How many other stupid local requirements set by supposed-local boards, but actually UN Agenda 21 infiltrated, hinder both business and private life? Maybe not as crazy as you think. I am sure Paul is very aware of where the UN and world socialism are taking us, and it is the destruction of capitalism and personal freedom, including the right to own property. As long as it has an end clause and expiration times, that is more than one in and never out government handouts.
If they really wanted to make Detroit an "experiment" go the whole way and make it truly free market
Paul went there?
I mean, we used to be a capitalist nation, then came the social revolution of the past half century, and now we're an anti-capitalist nation.
And in the social revolution, bankers have become vilified.
Do you know anyone who doesn't keep the bulk of their savings in a bank or brokerage (yes, per capita personal savings are pathetically small these days due to [insert entitlement name here]). Do you recognize that businesses borrow these funds for capital investment and growth?
Yes, the government bailed out banks that should have been allowed to fail, and continues to buy assets through the Fed to keep banks solvent by giving them the (out-of-thin-air) cash to continue to lend at artificially low interest rates. This IS bad government policy that must be corrected.
But what does any of that have to do with the reality that banks facilitate commerce and are vital to our economy? As far as I know, checks are written and cashed by individuals and businesses every day, credit and debit cards function reliably, and there is no significant fear of villainous bankers running off with our money.
If individuals choose to get into vast amounts of personal debt and fall prey to predatory lenders, I can see how they might hold a grudge, but there are sickening numbers of debt restructuring programs out there, and there is always the option of bankruptcy.
What, exactly, is this "social revolution" to which you refer? Is it some disparate, loosely-linked band of liberals looking for random entitlements and blaming banks for not getting them?
As for your "hanging" Dargo.....I'll swing with you.
The door OUT of the Gulch is that way --->
Maybe we need to define our border...and erect a 'fence'? ;-)
No more so than non-bankers.
Where's your proof for this assertion?
This fire is too hot, so I'll just back away a bit.
(Thumbs back up for "A good merchant does not argue religion with his client")