Destroying the economy in order to save it / Regulators warm to the harm their rules create

The Washington Times ^ | October 19, 2015 | Richard W. Rahn

[expat_panama]

On Sept. 29, Congress held a hearing on the rules proposed by the Consumer Financial Protection Bureau (CFPB) that would likely destroy much of the small-dollar loan industry and drive many low-income and poor credit-risk people into the arms of loan sharks.

[snip]

...the black marketeers will be the only ones serving the poor.

[snip]

The Internal Revenue Service’s new Foreign Account Tax Compliance Act regulations have made it both very expensive and, in many cases, impossible for Americans living abroad to obtain bank accounts in the countries where they live. The new IRS and Treasury “know your customer” regulations have also made it extremely costly...

[snip]

President Obama has made clear his intent to kill the coal and other fossil fuel industries. The results are that energy costs are being driven much higher, that hundreds of thousands of workers in these industries are now losing their jobs, and that low-income people will suffer the most from unnecessarily high energy costs.

[snip]

A new report published last week by the Global Warming Policy Foundation, authored by former Intergovernmental Panel on Climate Change delegate Indur Goklany, calls for a reassessment of carbon dioxide. Mr. Goklany said: “Carbon dioxide fertilizes plants, and emissions from fossil fuels have already had a hugely beneficial effect on crops, increasing yields by at least 10-15 percent.”

[snip]

Finally, I was struck by the fact that during the Democratic Party debate last week, no one listed the rise in global government debt as a percentage of gross domestic product as a major risk.

[snip]

This crisis will spread around the globe...

[snip]

The political class, in its lust for power and control, is in the process of destroying the global “economic village” while falsely claiming to be saving it.

[expat_panama]

Happy Tuesday!  Yesterday had stocks "up in lower volume" while metals eased off a tad (gold/silver now at $1,175.35/$15.94).  Futures traders however now see stock indexes mixed with metals tanking -1.5%.  

Housing Starts and Building Permits will be coming out in a half hour (fwiw).  More threads:

• FACT SHEET: White House Launches American Business Act on Climate Pledge
• The Numbers Say That A Major Global Recession Has Already Begun

--etc.:

Irrational Fears Of Rate Hikes That You Can Bank On - Ken Fisher, Forbes
Don't Let Oct Crash Talk Influence Investing - Michael Gayed, MarketWatch
Bond-Market Cracks Signal End to Good Run - Anthony Mirhaydari, TFT
Investors Shouldn't Give Up On Canada - Martin Pelletier, National Post
New Left Econ. Gurus Wrong As the Old Ones - Matthew Lynn, Telegraph
How Not To Fix Fannie Mae and Freddie Mac - Antonio Weiss, Bloomberg

[buckalfa]

"The political class, in its lust for power and control, is in the process of destroying the global “economic village” while falsely claiming to be saving it."

All according to the plan.

[SaveFerris]

I used to think it was simple greed. No longer.

[i_robot73]

Of course, I have to see where We the People, through an Amendment, have authorized Congress to create departments, bureaus, etc., let alone pass regulations with the force of Law by people whom We have never voted for nor confirmed.

I’m sure SCOTUS will get right around to that shortly

[petercooper]

ELAINE: All right, let’s go, I give you half an hour.

JERRY: What?

ELAINE: Come on!

JERRY: Are you serious?

ELAINE: Look, Jerry, we have to have sex to save the friendship.

JERRY: Sex... to save the friendship. Well, if we have to...

[MarchonDC09122009]

Machevellian creative destruction.

Oh to be a fly on the wall of the soul-less psychopaths NWO planning discussions.

RE: “”The political class, in its lust for power and control, is in the process of destroying the global “economic village” while falsely claiming to be saving it.”

All according to the plan.”

[expat_panama]

All according to the plan.

That may be assuming too much of the left, the idea that they can plan and succeed in attaining a chosen goal.   My take is that they're clueless and just making a mess of things while they blame everything on others.

[citizen]

Not a lot to add to your snippets, except perhaps “Et tu, Canada?”

Now that Canada is in the fold, look for an all out assault by the power mongers at the Paris global warming meetings beginning Nov. 30.

[1010RD]

Good article, but I don’t see any regulator ever giving up their power. They love the pay, benefits and easy work. I mean how hard is it to destroy what others have created?

[Georgia Girl 2]

Nothing will change for at least 15 months until we hopefully get Trump in the Whitehouse.