Tag Archives: FCC

Dangers of Government Control, by Walter E. Williams

Posted on January 3, 2018 | Leave a comment

Why does the Federal Reserve have so much control over the monetary system and the FCC over the internet? From Walter E. Williams at lewrockwell.com:

We are a nation of 325 million people. We have a bit of control over the behavior of our 535 elected representatives in Congress, the president and the vice president. But there are seven unelected people who have life-and-death control over our economy and hence our lives — the seven governors of the Federal Reserve Board. The Federal Reserve Board controls our money supply. Its governors are appointed by the president and confirmed by the Senate and serve 14-year staggered terms. They have the power to cripple an economy, as they did during the late 1920s and early 1930s. Their inept monetary policy threw the economy into the Great Depression, during which real output in the United States fell nearly 30 percent and the unemployment rate soared as high as nearly 25 percent.

The most often stated cause of the Great Depression is the October 1929 stock market crash. Little is further from the truth. The Great Depression was caused by a massive government failure led by the Federal Reserve’s rapid 25 percent contraction of the money supply. The next government failure was the Smoot-Hawley Tariff Act, which increased U.S. tariffs by more than 50 percent. Those failures were compounded by President Franklin D. Roosevelt’s New Deal legislation. Leftists love to praise New Deal interventionist legislation. But FDR’s very own treasury secretary, Henry Morgenthau, saw the folly of the New Deal, writing: “We have tried spending money. We are spending more than we have ever spent before and it does not work. … We have never made good on our promises. … I say after eight years of this Administration we have just as much unemployment as when we started … and an enormous debt to boot!” The bottom line is that the Federal Reserve Board, the Smoot-Hawley tariffs and Roosevelt’s New Deal policies turned what would have been a two, three- or four-year sharp downturn into a 16-year affair.

Here’s my question never asked about the Federal Reserve Act of 1913: How much sense does it make for us to give seven unelected people life-and-death control over our economy and hence our lives?

To continue reading: Dangers of Government Control

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Posted in Banking, Business, Debt, Government, Technology

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Net Neutrality – The End of Google’s Biggest Subsidy, by Tom Luongo

Posted on December 17, 2017 | Leave a comment

It turns out net neutrality has been a godsend for the bandwith hogs. From Tom Luongo at tomluongo.me:

Net Neutrality is gone.  Good riddance.

Lost in all of the theoretical debate about how evil ISPs will create a have/have-not divide in Internet access, is the reality that it already exists along with massive subsidies to the biggest bandwidth pigs on the planet – Facebook, Google, Twitter, Netflix and the porn industry.

Under Net Neutrality these platforms flourished along with the rise of the mobile internet, which is now arguably more important than the ‘desktop’ one in your home and office.  Google and Apple control the on-ramps to the mobile web in a way that Net Neutrality proponents can only dream the bandwidth providers like Comcast and AT&T could.

Because, in truth, they can’t.  Consumers are ultimately the ones who decide how much bandwidth costs, not the ISPs.  We decide how much we can afford these creature comforts like streaming Netflix while riding the bus or doing self-indulgent Instagram videos of our standing in line at the movies (if that’s even a thing anymore).

Non-Neutrality Pricing

Net Neutrality took pricing of bandwidth out of the hands of consumers.  It handed the profits from it to Google, Facebook and all the crappy advertisers spamming video ads, malware, scams, and the like everywhere.

By mandating ‘equal access’ and equal fee structures the advertisers behind Google and Facebook would spend their budgets without much thought or care.  Google and Facebook ad revenue soared under Net Neutrality because advertisers’ needs are not aligned with Google’s bottom line, but with consumers’.

And, because of that, the price paid to deliver the ad, i.e. Google’s cost of goods sold (COGS), thanks to Net Neutrality, was held artificially low.  And Google, Facebook and the Porn Industry pocketed the difference.

They grew uncontrollably.  In the case of Google and Facebook, uncontrollably powerful.

That difference was never passed onto the ISP who could then, in turn, pass it on to the consumer.

All thanks to Net Neutrality.

To continue reading: Net Neutrality – The End of Google’s Biggest Subsidy

 

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Posted in Cronyism, Government, Technology

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Infowars, Breitbart, Drudge Could Soon Face An FEC ‘Inquisition’ Over Russian “Collusion”, by Alexander Paul

Posted on July 13, 2017 | Leave a comment

If you’re looking for foreign influence in the last election, the first place to look isn’t Moscow, but rather into how many immigrants from foreign lands illegally voted. From Alexander Paul at planetfreewill.com:

Conservative news outlets like Infowars, Breitbart and the Drudge Report could soon be facing an inquisition from the FEC for coordinating with the Russians to blitz the realm of social media with deceptive anti-Clinton stories that effectively could have influenced the 2016 presidential election.

This could happen if top Federal Election Commission Democrat, Ellen Weintraub, is able to get her way during this Thursday’s FEC meeting.

The Washington Examiner reports:

The plan, set for discussion at Thursday’s FEC meeting, could open the door to political subpoenas targeting the websites, their editorial news decisions, and their owners, maybe even Matt Drudge and Alex Jones, according to an expert analysis.

In her effort targeting foreign influence in federal and state elections, Commissioner Ellen Weintraub would probe spending by overseas sources and even partially-foreign-owned U.S. firms on campaigns, including their media buys. Foreign influence is illegal in elections.

She said that tackling foreign influence in elections could be the FEC’s finest hour, adding, “I believe that this Commission can indeed rise to the challenge of understanding what happened in the 2016 election and plugging any legal or procedural holes that could allow foreign actors to interfere with our future elections.”

Politico recently reported that “Weintraub’s interest was piqued by an article published last week by Time magazine that revealed intelligence officials had evidence that Russian agents bought Facebook ads to disseminate election-themed stories. It also indicated that congressional investigators were examining whether Russian efforts to spread such content were boosted by two U.S. companies with deep ties to Trump — Breitbart News and Cambridge Analytica.”

The Time Magazine article which influenced Weintraub also pointed to Russian ties to conservative ownership and funding as a potential target of investigators. The report reads, citing McClatchy, “FBI counterintelligence investigators were probing whether far-right sites like Breitbart News and Infowars had coordinated with Russian botnets to blitz social media with anti-Clinton stories, mixing fact and fiction when Trump was doing poorly in the campaign.”

To continue reading: Infowars, Breitbart, Drudge Could Soon Face An FEC ‘Inquisition’ Over Russian “Collusion”

 

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Posted in Civil Liberties, Government, Media, Uncategorized

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