Crony capitalism in action

A Keynesian stimulus is nothing other than a way for our elites to reward each other with other people’s money. This is a story that ought to lay bare what you need to know about public sector spending where the pretence is made that the stimulus is to help those at the bottom of the income pile. Here is the reality: Most Americans Still Worse Off Than Before Recession, Fed Finds.

Newly released income and wealth data from the Federal Reserve Board’s triennial Survey of Consumer Finances show that America’s richest families enjoyed gains in income and net worth over the last decade. Not part of the top 10 percent? Then your income probably fell. The data show that families ranked in the highest percentile saw an income gain of $16,300 from 2007 to 2016. Those below are still making less money.

A government has very poor judgement on what is value adding for a community but is absolutely perfect in being able to reward their friends.

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