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The dangers of ‘Crony Capitolism'
...Because Obama’s government minions have inserted themselves into business, more deals must go through the greasy fingers of Washington, D.C., to get done. I call it “Crony Capitolism” because unless you are connected politically you cannot achieve your business objectives.

Examples abound, but the most recent two tell the story.

While opposing offshore drilling at home, the Obama administration found $2 billion of U.S. Export Import Bank money for a Brazilian oil company for drilling off Brazil’s coast. Why? Leading Democratic donor and pseudo-Bond villain George Soros owned a large position in the Petrobras Oil Company. I can envision Soros stroking his hairless cat and saying “exxccceellent.”

Can you say “payback”?

Then there is Rahm Emanuel, who has set up his brother, Zeke, in a plum job to remake health care in Obama’s image. His nine fingerprints are all over dishing out jobs to friends....

...This is Chicago politics at its finest. No wonder Oprah is leaving town. The result, per Forbes magazine, is that we are losing ground to foreign competitors.

Korean automaker Hyundai registered record sales in August. Chinese telecom manufacturer Huawei might soon pass Cisco in sales. Brazil’s jet maker Embraer is, according to Cessna CEO Jack Pelton “scaring us to death.” And more IPOs are happening away from America’s overly regulated capital markets. In addition, India has heart bypass surgery outcomes equal to the U.S. at half the cost, and Singapore is willing to pay U.S. biotech research stars about $715,000 in annual salaries.

In short, we do not have a monopoly on capitalism. We risk losing out to a world market that moves faster and with more resolve today than ever before. Our new political class does not seem to care that innovation and capitalism are fleeing.

At least a pimp protects his hookers, which is yet another economic reality that escapes this administration.