Derek Turner really nails it down good in this one. What other groups out there more closely resemble the stereotype of what a “fascist” is besides these losers?
Monthly Archives: March 2010
American New Right Update 9
The updated American New Right blog has many new essays well worth reading, including some material by our regular participant Quagmire. These include critiques of Anti-Racist Action, Noam Chomsky, the “ongoing pussification of American culture ,” and even a defense of Yours Truly against a leading critic. Check it out.
The Health Care Crisis: A Crisis of Artificial Scarcity Reply
Another masterpiece from Kevin Carson.
Iceland: Saudi Arabia of the Left? 11
For some time I have argued that the feminazi/therapeutist Left is every bit as much an enemy of sex worker rights as the Religious Right. This more or less proves my point. Emma Goldman said way back during the pre-suffrage era that this is what you would eventually get if you gave middle class liberal and socialist women the vote. Down with democracy! Aristocracy, forever!
Updated News Digest March 27-28, 2010 2
“Marcuse Is Dead…And We Have Killed Him.” -Quagmire, ATS Reader
Spontaneous Order-NEW VIDEO!
AlternativeRight.Com Is Now Live!
Community Organizing and National-Anarchism presentation by Andrew Yeoman
Tribal Anarchism Video Series Parts One, Two, Three, Four
United Anarchism Vs United Nationism
Vermont Secession Strategy by Kirkpatrick Sale
A Strategy Manual for the Liberty Movement by James Ostrowski
Taser Nation by Eric Peters
Truth Has Fallen and Has Taken Liberty With It by Paul Craig Roberts
Covering Up American War Crimes by Charles Glass
The Crime of Iraq by Laurence Vance
Civil Liberties in Obama’s America by Anthony Gregory
The Creepy Tyranny of Hate Speech Laws by Glenn Greenwald
Dr. Leviathan Will See You Now by William Norman Grigg
The Health Care Crisis: A Crisis of Artificial Scarcity by Kevin Carson
America’s Illegal Combatants by Eric Margolis
The District of Crooks by Walter Williams
Stop Funding the Israelis by Justin Raimondo
Israel Wins Again-Is War Next? by Philip Giraldi
War in Iraq: Seven Years On by Greg Mitchell
Israel’s Passport Farm by Justin Raimondo
Will Obama Lose His Troops Over Israel? by Pat Buchanan
The U.S. Has No Place Brokering Peace by Charles Pena
More Sanctions Against Iran Are Not the Answer by Ivan Eland
Republicans Seek Deal on Detainee Trials by William Fisher
Buzzkill at the Tea Party by Kelley B. Vlahos
This Is Your Army on Drugs by Kelley B. Vlahos
Anarchy in Africa? by John James
Louis Ferdinand Celine: An Anarcho-Nationalist by Tom Sunic
From Good to Bad Social Engineering by Doug Bandow
The President’s Nullification Power by Jacob Hornberger
End the Wars by David Henderson
What’s Got Obama So Pissed? by Matthew Cole
Two Cheers for Netanyahu? by John Walsh
Don’t Expect a New Era in U.S.-Israel Relations? by Alexander Cockburn
Will the Taliban Regain Control of Afghanistan? by M. Shahid Alam
Are You Part of the Remnant? by Albert Jay Nock
We Must Nullify by Rob Natelson
Congress, Israel, and U.S. National Security by Ralph Nader
Immigration: The Elites Versus the People by Pat Buchanan
Washington Murdered Privacy at Home and Abroad by Paul Craig Roberts
The Wars of Tribe and Faith Return by Pat Buchanan
American Naifs Bringing Ruins to Other Lands by Paul Craig Roberts
The Offshored Economy by Paul Craig Roberts
What Our Rulers’ Non-Reaction to American Renaissance’s 2010 Suppression Means by Jared Taylor
Texas Set to Execute Another Possibly Innocent Man by Dave Lindorff
The Special Interests Who Love Obamacare by Matt Welch
A Challenge to the Tea Parties: Embrace the Class Struggle by Brad Spangler
Hard Lessons From the Soviet Union by Stuart Bramhall
Libertarians for Redistribution by Gary Chartier
Conspiracy and the Paranoid Center by Kevin Carson
Conspiracy and the Paranoid Center, Part 2 by Kevin Carson
Resilient Communities and Darknets Featured in Time Magazine by John Robb
John McCain’s Attack on Liberty by Chuck Baldwin
Independent Columnists Perhaps, But Not Independent Minds by Derek Turner
Health Insurance Bonanza by John Walsh
On to the Unemployment Crisis by Craig D. Rose
Obama’s Bloody War in Mexico by Mike Whitney
The Uncertain Fate of Afghan Detainees by Gareth Porter
Seven Years of War in Iraq by Andy Worthington
Why Israel Always Prevails by Jeffrey Blankfort
Secrets of the Tribe by Barbara Rose Johnston
Practice Makes Perfect by Steve Sailer
Hipsters on Food Stamps by Jennifer Bleyer
History’s Most Destructive Volcanoes by Andrea Thompson
Foreign Policy Murder Is Still Just That by Allan Stevo
Ancient Rome in a Modern Light by Robert Bianco
Technophilia, Technotyranny, Technoinfantilism by Christopher Ketcham
Imperialism Rebooted in Latin America by Todd Gordon and Jeffery R. Webber
Rebirthing the Antiwar Movement by Clare Bayard and Sarah Lazare
“When You’re Dying, You Explore Radical Medication” by JoAnn Wypijewski
Kucinich and the Media by David Swanson
The City of Detroit Is Dead by Gary North
Israeli Libertarians: Strangers in a Strange Land by Phil Maymin
A Brief History of Political Scandals by Andy Bloxham
Truth Versus the Federal Liar State by Judge Andrew Napolitano
Euro Headed for Extinction? by Dan Weil
16,500 New IRS Agents by Ron Paul
The Lunatic Left is Getting Desparate by Thomas DiLorenzo
The Crash of 2010 Is Coming by Gerald Celente
Retire In Poverty by Ron Holland
Who Is a Jew? DNA Can Hold the Key by Steve Jones
American Conspiracies: Up Close and Personal With Jesse Ventura by Tom Murro
Hillary Clinton: Women Don’t Own Their Own Bodies by David Kramer
States Seek to Legalize and Tax Marijuana by Ryan McMaken
The War on Drugs Causes Violence by Wilton Alston
Has the FBI Infiltrated the Tea Parties? by Lew Rockwell
Attention, NRA Members: It Isn’t Just “Liberals” Who Are Out for Your Guns by Christopher Donovan
Do They Wear White Hoods to Their Tea Parties? by David Franke
Have a Nice War, Folks by John Pilger
$PLC Finds Another Target by David Kramer
Which Is Worse? U.N. or U.S.? by Manuel Lora
PIGS Assault Innocent Civilians in Chicago by William Norman Grigg
You Can’t Have It Both Ways with Original Intent by James Leroy Wilson
“The Italians were called wops, the Jews were called hymies, I was of course a greaseball, and every Hispanic was a spic. Well, we all got along famously! It was rough, but it was fine.”
-Taki Theodoracopulos
Putting Israel First Grant F. Smith interviewed by Scott Horton
Left and Right Against the Empire Jesse Walker interviewed by Angela Keaton
American Insanity in Somalia Ivan Eland interviewed by Scott Horton
Americans Against World Empire Jon Basil Utley interviewed by Scott Horton
China Need Not Be an Enemy John Walsh interviewed by Scott Horton
On Agrarianism, Part 2 by Matthew Raphael Johnson
“The “clash of civilizations” is, in a very literal sense, a clash of God and Mammon. The Islamic revolutionaries are driven by a fanatical devotion to their god and the promises they believe he has made to them if only they take up arms on his behalf. The nations of the West are driven by an almost as fanatical devotion to Mammon, that is, to wealth, luxury, power, pleasure and privilege. Further, the culture of the West combines this unabashedly materialist ethos with rejection of strength and discipline in favor of a maternalistic emphasis on health, safety, “sensitivity”, “self-esteem”, “potential”, “personal growth”, “getting in touch with one’s inner child”, “feelings” and other concepts common to pop culture psychobabble. Of course, the socio-cultural ramifications of this is to create a society of weaklings, mediocrities and crybabies.”
-Keith Preston
No Class by The Plasmatics
The Late, Great G. G. Allin on Jerry Springer
Bite It, You Scum by G.G. Allin
Guns, Bitches, Brawls, and Bottles by G.G. Allin
For the Love of Chains by The Impotent Sea Snakes
Cream In My Jeans by Wayne/Jayne County and the Electric Chairs
Dare to be Fat by Root Boy Slim
Animal (Fuck Like a Beast) by W.A.S.P.
Die With Honor by Manowar
Psychopath by Lizzie Borden
(Commentary from Maury2k)
Sam Francis: A Paleo Against Movement Conservative Pussies
Human Events Neocons Pat Buchanan
(hat tip to Chris Donnellan for the following links)
“Life is war and conflict, struggle and strife, from conception till death…Never shall the lion lie down peacefully with the lamb…”
“Why are those who espouse Univeral Love, Tolerance, and ‘Human Brotherhood,’ usually the most screwed up people you’ve ever met, socially and emotionally? Not to mention some of the nastiest and most self-centered narcissists around?”
-Chris Donnellan
A Cloward-Piven Strategy for Single Payer
Widening Income Disparities in America
Wachovia Admits It Laundered Millions in Mexican Drug Cash
Facebook Linked to Rise in Syphilis
Pass the Soylent Green by John Zmirak
Mexico’s Drug Wars Rage Out of Control
New Species of Human Ancestor Found in Siberia
Netanyahu for President by Thomas Fleming
The New World Order According to Arthur Jensen
Carl Schmitt, the Inquisition, and Totalitarianism
Emile Cioran and the Culture of Death
This Difficult Individual Eustace Mullins
Oil Reserves Exaggerated by One-Third
Neo-Fascist Review of Hurt Locker
(hat tip to Andrew Yeoman for the following links)
“What You Believe is Not as Important as What You Do.”
-Andrew Yeoman
Prayer Warriors and Palin Organizing Spiritual Warfare to Take Over America
Democrats Offices Across U.S. Attacked
The Lesson of Detroit Is That Experts Do Not See a Collapse Coming
79% Say U.S. Economy Could Collapse
Lawmakers Eyeing National ID Card
14 Reasons Why Somali Pirates Run a $150 Million Per Year Business
How Run Your Business Like a Somali Pirate
The Deadly Art of Knife Fighting
Rage and Health Care by John Robb
Outlaw Motorcycle Clubs: Planned Tactics for the Collapse
Huge Escalation in Organized Gangs Taking On the Police
A Nation of Sheep, Ruled by Wolves, Owned by Pigs
The Revolution Within Anarchism
Forty Years in the Wilderness?
Liberty and Populism: Building An Effective Resistance Movement for North America
Organizing the Urban Lumpenproletariat
National Anarchy and the American Idea
“The king is most wounded by ridicule.” -Thomas Hobbes
Don't Forget AlternativeRight.Com! Reply
If you haven’t been reading AltRight, then you should be ashamed of yourself.
Interview: Sebastian Ernst Ronin of the Renaissance Party of North America 2
Read it here.
Mr. Ronin is the Chairman of the Renaissance Party of North America (RPN), for which I am the Secessionist Outreach officer. This is a brand new party, having been formed only in December of 2009, and it is the only political party in North America that I would even consider becoming involved with at present. The party’s mission statement and philosophical outlook is light years ahead of any of its competitors, as it combines syndicalist/distributist economics, radical decentralization, “archeofuturism” and other ENR-inspired ideas, anti-globalism, peak oil theory, anti-Cultural Marxism, anti-political correctness, anti-imperialism, a Spenglerian view of history, pan-secessionism, race-realism, a strident yet reasonable environmentalism, a social conservatism that is measured and libertarian, neo-paganism within a wider spirit of religious toleration, and criticism of mass immigration in the name of civilizational survival and self-preservation. In other words, all of the best and most far-sighted contemporary ideas are being pulled together into a unified and syncretic whole.
Chomsky: "Anarchists Need to Get Their Act Together" Reply
See the interview here.
Most of the criticisms that Chomsky offers of the anarchist movement are spot on, yet some of his comments in this reveal some of the limitations of Chomsky’s application of anarchist theory as well. I will definitely need to write an extensive reply to this.
Updated News Digest March 13-14, 2010 1
“Marcuse Is Dead…And We Have Killed Him.” -Quagmire, ATS Reader
AlternativeRight.Com Is Now Live!
Community Organizing and National-Anarchism presentation by Andrew Yeoman
Tribal Anarchism Video Series Parts One, Two, Three, Four
United Anarchism Vs United Nationism
The Case Against Domestic Military Detention by David Vittgers
Is Greece the Future of the United States? by Sheldon Richman
An Oscar for America’s Hubris by Robert Scheer
American Elites Abandon Their Faux Regret Over Iraq by Glenn Greenwald
Lessons of Vietnam Revisited by Andrew Bacevich
Come Home, America: Prospects for a Coalition Against Empire by Jeff Taylor
Iraq War Still a Mistake by Georgie Anne Geyer
Time to Leave Afghanistan by Rep. Timothy Johnson
Relax, the Empire’s in Safe Hands by Alexander Cockburn
Palestinians Should Now Declare Their Independence by Johann Hari
Drug War Without End by T. P. Wilkinson
Phantom of Mexican Narco-Guerrillas Haunt U.S. Security Chiefs by John Ross
Rachel Corrie’s Famil Finally Puts Israel in the Dock by Jonathan Cook
An Iraq Without Terror? by Patrick Cockburn
Thomas Sowell: Them Poor Ole Bosses Need All the Help They Can Get by Kevin Carson
National Id Cards Won’t Stop Terrorism or Illegal Immigration by Ron Paul
New York Lawmaker Wants to Ban Salt by Radley Balko
Centrally Planned Suburbia by Matthew Yglesias
Bakunin’s “The Political Theology of Mazzini” by Shawn Wilbur
The End of Newspapers by Marie Benilde
The Pentagon’s Runaway Budget by Carl Conetta
The Rogue Nation by Philip Giraldi
Washington’s Cult of Narcissism by Tom Engelhardt
Why Labor Is Mad at Obama by Laura Flanders
Chomsky on Haiti by Keane Bhatt
Congress of Corruption by William Blum
In the Shadow of Power by Ralph Nader
Breaking the Fever of Militarism by Chris Floyd
Leaving Iraq by Daniel Larison
Victory In Iraq at Last (Not!) by Leon T. Hadar
Anarchists in the Student Movement from Infoshop.Org
Long Battles Erupt in Athens Protest March from Infoshop.Org
PIG Faces Suspension for Gun Draw at Snowball Fight from Infoshop.Org
Obama’s Potemkin Afghanistan by Justin Raimondo
The Truth Hurts by Jeff Huber
Third World War by Philip Jenkins
The Cheney Government in Exile by Joe Hagan
Is There a Middle East Solution? by William Pfaff
U.S. Needs to Let Go in Iraq by H. D. S. Greenway
What If the War Is for Nothing by Daniel Larison
The Trial of Azzam the American by Justin Raimondo
Heroic Icelanders by Lew Rockwell
Thoughts on America’s Jewish Ruling Class and Noblesse Oblige by Steve Sailor
“Free” Germany’s Police State by Paul Gottfried
Should Middle Class Americans Subsidize Six Figure Pensions for Government Workers? by Pat Buchanan
How Megachurches Would Profit from Temple Prostitution by Tim Worstall
Turn a Quarter of Detroit Into Semi-Rural Farms by Cory Doctorow
Corporate Propaganda: How Does It Work? by Stuart Bramhall
What Does the Left Need to Know About Prison? by Vikki
Poverty Without the State by Gary Chartier
Down With the Bosses! by Shawn Wilbur
Statists Don’t Get It by Darian Worden
Housing at Pine Ridge Indian Reservation Worst in the U.S. from Infoshop.Org
PIGS Arrest Queers at Canadian Drag Show from Infoshop.Org
Israeli Left Emerges from Coma Amid Atrocities by Mel Frykberg
Conservatives Are Running on Empty by Butler Shaffer
The Nuker-In-Chief by Eric Margolis
The Great Benny Hill: Another Casualty of Political Correctness from The Daily Mail
Zimbabwe’s Dispossessed Farmers Strike Back at the State by Peta Thornycroft and Sebastien Berger
Thank You for Not Expressing Yourself by Theodore Dalrymple
Police State America: Do You Feel Free Anymore? by Don Cooper
The Few, the Proud, the High School Students by Laurence Vance
Losing Your Mind: Is Modern Civilization to Blame? by Bill Sardi
The State Moral Code (What a Joke!) by William Norman Grigg
Armed Citizens: They’re Prepared Not to Be Victims from America’s First Freedom Magazine
Should America Apologize? Of Course! by Connor Boyack
Jesse Ventura Unscripted by Roy A. Barnes
Anti-Pot Propaganda by Paul Armentano
Walmart Cuts Price on Black Barbie Doll: The Sky Falls by Bill Anderson
Israel: The 51st State? Or the 1st? by David Kramer
The PIGS Protect Us From Beer by Bill Anderson
Woman Sprays PIG with Mother’s Milk by William Norman Grigg
Neutrality Is the Only Decent Foreign Policy by Ron Paul
The Gods of the Empire Are Not the Gods of Vermont by Thomas Naylor
The Green Mountain Tax Haven by Thomas Naylor
Could Free Vermont Lead the World Back to the Gold Standard? by Thomas Naylor
Secessionists Need to Get Involved in Tea Parties by Tom Malinich
Are Security and Education Like Health Care? by TGGP
The War on Sports Gambling by Ross Everett
Collapse of the American Empire by Paul B. Farrell
Fidel Castro: Has He Survived 683 Assassination Attempts? by Rory Carroll
Kucinich and Paul Confront the Criminals in Congress
The Health Nazis Continue to March in NYC by David Kramer
Anarchist Murdered by the PIGS in Athens from Infoshop.Org
The Angola Three: 37 Years of Solitary Confinement by Erwin James
Jefferson and Nullification by Clyde Wilson
Prepare for the Worst by Gerald Celente
Czars to Serfs: Shut Up and Pay Up by William Norman Grigg
Too Little, Too Late by Laurence Vance
Can a Christian Join the Tea Party? by Christopher Manion
Felix Ortiz Represents Government in Action by Mike Rozeff
A Love Letter from AIPAC to the U.S. Congress by David Kramer
The Thin Blue Whine, Pittsburgh Edition by William Norman Grigg
Biden in Israel: They Bitch Slapped Him Good by Justin Raimondo
An American in Zurich by Patrick Foy
How Not to Argue for IP by Kevin Carson
A Bit About Bourgeois Libertarianism by Thomas Knapp
European Anarchist Has to Cancel Trip to the U.S. by Matthew Rothschild
Worker Cooperatives: From Hippie Fringe to Economic Mainstream by Rina Palta
Jew Versus Jew: Protests, Threats Reach Fever Pitch Over Israel by Michael Gould-Wartofsky
“The Italians were called wops, the Jews were called hymies, I was of course a greaseball, and every Hispanic was a spic. Well, we all got along famously! It was rough, but it was fine.”
-Taki Theodoracopulos
The New Anti-Empire League David Henderson interviewed by Scott Horton
Obama Is Just as Bad as Bush Anthony Gregory interviewed by Scott Horton
Neocons Still Pushing for Iran Strikes Philip Giraldi interviewed by Scott Horton
The Empire Is Broke Ron Paul interviewed by Scott Horton
“The “clash of civilizations” is, in a very literal sense, a clash of God and Mammon. The Islamic revolutionaries are driven by a fanatical devotion to their god and the promises they believe he has made to them if only they take up arms on his behalf. The nations of the West are driven by an almost as fanatical devotion to Mammon, that is, to wealth, luxury, power, pleasure and privilege. Further, the culture of the West combines this unabashedly materialist ethos with rejection of strength and discipline in favor of a maternalistic emphasis on health, safety, “sensitivity”, “self-esteem”, “potential”, “personal growth”, “getting in touch with one’s inner child”, “feelings” and other concepts common to pop culture psychobabble. Of course, the socio-cultural ramifications of this is to create a society of weaklings, mediocrities and crybabies.”
-Keith Preston
“Take Your Stinking Paws Off Me, You Damn, Dirty Ape!”
Morning Dew by The 31st of February
I Made Linda Lovelace Gag by David Allan Coe
Now I Lay Me Down to Cheat by David Allan Coe
Fancy by Bobbie Gentry
Him and You by The Pandoras (R.I.P. Paula)
Roll Over Beethoven by The Electric Light Orchestra
Showdown by The Electric Light Orchestra
(Commentary from Maury2k)
What Is the Partisan Tendency?
Robert Welch and the Principle of Reversal
Saul Alinksy and the Venus Fly Trap for Radicals
(hat tip to Chris Donnellan for the following links)
“Life is war and conflict, struggle and strife, from conception till death…Never shall the lion lie down peacefully with the lamb…”
“Why are those who espouse Univeral Love, Tolerance, and ‘Human Brotherhood,’ usually the most screwed up people you’ve ever met, socially and emotionally? Not to mention some of the nastiest and most self-centered narcissists around?”
-Chris Donnellan
The Proposed National ID Card: Your Passport to a Police State
The Properties of Property by Thomas Fleming
White People Have Less Sex Than Other Americans
U.S. Can’t Afford Military Aid to Israel by Josh Ruebner
Arrest Warrant for Netanyahu in Dubai?
North American Dictators Do Their Shopping in Europe
Greece’s Crisis Could Presage America’s
High Immigration Rate Impacts the Unemployed
Critical Mass by Brett Stevens
Aliens Visiting Earth Will Be Just Like Humans, Scientist Says
McDonald’s Parking Spot Dispute Turns Violent
The Looting of $11 Trillion from the U.S. Economy
Palin Crossed the Border for Canadian Health Care
Why Many Americans Prefer Their Sundays Segregated
An Important Distinction: Democracy Versus Republic
No Signs of Life on MARS by John Derbyshire
Pennsylvania Woman Charged with Trying to Recruit Terrorists
Tale of a Seditionist: The Lawrence Dennis Story by Justin Raimondo
(hat tip to Andrew Yeoman for the following links)
“What You Believe is Not as Important as What You Do.”
-Andrew Yeoman
Massive Brawl in High School Sends 8 Kids to the Hospital
The Guerrilla Gardening Homepage
German Woman Writes Ground-Breaking Account of WW2 Rape
Israel Liberation Week Hits UC-Berkeley
Ethnic Violence in Nigeria Kills 500
A Disposable Toilet That Could Help Grow Crops
Disney Isn’t Punk, But He’s Punk Enough for Me
A Nation of Sheep, Ruled by Wolves, Owned by Pigs
The Revolution Within Anarchism
Forty Years in the Wilderness?
Liberty and Populism: Building An Effective Resistance Movement for North America
Organizing the Urban Lumpenproletariat
National Anarchy and the American Idea
“The king is most wounded by ridicule.” -Thomas Hobbes
The Consumer Protection Agency Reply
by Josh Fulton
http://joshfulton.blogspot.com/2010/03/consumer-protection-agency.html
I had heard about this, and hadn’t really thought much about it. I guess if I had any reactions to the idea, they were probably positive. Elizabeth Warren seemed likable and well-meaning, and if she’s pushing for it, why not?
Then I started watching this video of her on Charlie Rose, and I started thinking “Oh, it’s another regulatory agency.” One person’s “protections” are another person’s “regulations.”
I’m not exactly sure what this agency would “protect” or “regulate,” but the example Elizabeth Warren used was credit card contracts. The problem is they’re too long. Well, I think most people would agree with that, but how do we get the change most people want?
I think we can see how other “regulatory” agencies have worked in the past. Look at the SEC who let Bernie Madoff continue his Ponzi scheme for years despite warnings. Look at the FDA whose ‘Food Safety Czar’ is a former Monsanto chief lobbyist. Government regulatory agencies have a funny habit of becoming “captured.”
The solution isn’t government regulation, but free market regulation. Only the free market can determine what businesses deserve to succeed or fail. Some people may say that we have free market regulation now and that it hasn’t worked, but no, we do not have a free market in just about any sector of the economy.
Let’s just take a look at two different time periods to see how government intervention affects the economy in general. In 1920, industrial production fell 25%. Unemployment increased nearly nine fold. Yet the government did not intervene much, and the economy was in recovery beginning in 1922.
Compare this to 1930, when industrial production had only fallen 12% from its 1929 peak, but because of government intervention such as the Smoot-Hawley tariff and the National Industrial Recovery Act, the country spiraled into the Great Depression. No American depression had ever lasted so long.
Even today, government “regulations” are ever-present in virtually every industry. Between 2001 and 2009, there were 159 “economically significant” new regulations created. “Economically significant” means that they cost the economy $100M or more. The regulation ranged from boosting fuel economy standards for light trucks to continuing a ban on bringing torch lighters into airplane cabins. In 2009, $42.7B was spent just on “regulatory activities,” meaning issuing and enforcing regulations.
How does the government intervene in the credit card market? Well, the most obvious way is through the Fed setting the federal funds rate (even though the Fed is technically a “quasi-governmental” agency.)
The Fed allows Chase, BoA, and Citi, who collectively control over half of the nation’s outstanding credit card debt, to borrow for money .25%. That’s not a market rate. It’s a rate that’s created by the Federal Reserve. Anyone who wants to borrow at the same rate has to go through the hoops of chartering a bank. Is it any surprise that we begin to reward bad actors when we make it so difficult to enter a market?
The solution to “consumer protection” is to get rid of government-caused distortions in the market in order to allow competition, not to create new “regulators.”
