Understanding the Watchdog’s Axis of Evil

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Yeah, four score and seven years ago, I don’t know how many years ago, I came up with my watchdog on Wall Street Axis of Evil. And it was in contrast to George W. Bush’s Axis of Evil, which was, it was Bush’s. It was North Korea, Iran and Iraq at the time. And I explained that my Axis of Evil is a hell of a lot scarier and a hell of a lot more dangerous than North Korea, Iran and Iraq combined at the time.

time and that is big business, the media and politicians, Washington DC. Hell of a lot more frightening to me than those three countries and what they can do to my business, myself, what they can do to you, what they can do to any of us at any point in time. And I want to try to, again, we’re 4th of July tomorrow and just fair warning, I’m going to go off on my usual

epic Fourth of July rant on the radio show this weekend. I’m doing little bits and pieces here and there. And I want to talk about the understanding, the imagination, how the watchdog on Wall Street axis of evil works. You see, we have in this country, these politicians in D .C. that feel the need that they need to step in. They need to help all of us.

they need to control the economy. They’re there to redistribute wealth and deal with inequality in our economy when the reality is they do nothing of the sort. They make matters worse time and time again. You ever think about it? You know, again, businesses. Why would a business? Why?

would a business give money to politicians, give money to lobbyists? Think about that. Are they doing it out of the goodness of their heart? I’m telling you right now. Tell you right now, these businesses would much rather, much rather put up a museum. They’d much rather give money to charities than have to give money to some ridiculous politician. Why do they give money to the state? You ever think about that?

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because it helps them.

It benefits them. If our government was kept under wraps, if our government was kept under wraps and was not allowed, was not burdening with ridiculous regulations, if companies couldn’t carve out for themselves special deals when it comes to the tax code, when it comes to federal regulations,

Do you think that these corporations would be giving money to these politicians? I’ve told people, I said, true power in Washington, DC comes from two things. It comes from the tax code and it comes from the federal registry. We’ve discussed this in terms of investing. Warren Buffett has talked about the concept of regulatory capture.

Billions and billions of dollars are made, are gained by big corporations here in America. Why? Because they have politicians in their pocket, politicians that can benefit them, politicians that can price out a competitor because of regulations.

It was a column today. It was written by Jonathan Newman. And he cited Ludwig von Mises and his economic policy thoughts for today and tomorrow. And he talked about this in terms of pressure groups. A pressure group is a group of people who want to attain for themselves a special privilege at the expense of the rest of the nation.

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This privilege may consist in a tariff on competing imports. It may consist in a subsidy. It may consist in laws that prevent other people from competing with the members of that pressure group. At any rate, it gives to the members of the pressure group a special position. And this is why we have special interests groups. And this is why the government gets involved in intervening in our economy.

I, you know, in some respects, if you actually think about it, I mentioned this before on the program, I go to Goodfellas and there’s there’s a scene in Goodfellas early on in the movie where Henry Hill and they’re showing a barbecue barbecue at the back of somebody’s house and Paulie Paulie Paulie sitting there is played by Paul Servino. He’s the he’s the head of the family and they’re explaining, you know, nobody’s

Nobody really speaks to Paulie, just like nobody oftentimes don’t really speak to these politicians directly. They go through their lobbyists to some degree, but I think they speak to them as well and how it’s basically a police force, an organization for wise guys. And that’s, you know, that’s basically what Paulie is. That’s what their system is for bad guys. And in the same respect, that’s kind of how our government works and what it’s turned into a one

big, giant, racketeering bit of organized crime. And don’t tell me this paid off. You take a look at the wealth surrounding Washington, D .C. You talk about the corporations that have moved to Washington, D .C., the surrounding area that’s there, and all of the little hangers -ons that live off all of this money where we pick and choose winners

and losers. All I ask for and I think all most Americans ask for is for the government to get out of the way. To get out of the way, to allow people to go out there and build and create, succeed beyond their wildest dreams and also, you know what, the side effect of that, you might also fail. That’s part of it. Don’t have it now. Don’t have it now. And again, all the

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machinations and all the things are gonna be said this, freedom and we have free country, home of the brave capitalism. Come on, man. You really believe that? You really believe that. Watchdog on wallstreet .com.