Cronyism and Regulatory Capture

Rebound In Used Luxury Watches Continues During the COVID-era flood of free money, from stimulus checks to the Federal Reserve's zero-interest-rate policy, luxury watch prices skyrocketed to the moon. But once that liquidity boom faded and interest rates were pushed sharply higher to rein in the inflation monster fueled by helicopter money, the secondary luxury market slid into a multi-year correction. Over the last year and a half, however, that downturn appears to have bottomed out (see here and here), with prices continuing to rebound. The Bloomberg Subdial Watch Index, which...

'Manufactured Story': Hegseth Goes Off In CBS Interview On Crisis Of US Arms Stockpiles Pentagon chief Pete Hegseth joined CBS's Margaret Brennan on Sunday for an interview which quickly degenerated into a tense, finger-pointing segment over billions poured into the military-industrial complex, as well as foreign coffers, amid multiple global hotspots and a couple major war fronts - most notably Ukraine and the Middle East. Brennan pressed Hegseth on the hollowed-out state of American arms stockpiles, invoking a recent plea from Ukraine for localized weapon production. "Let me ask you before...

UK House Of Lords Rams Through 'Abortion Up To Birth' Law; Only 1% Of Brits Approve Authored by Steve Watson via Modernity.news, The unelected House of Lords in the UK has just voted to embed extreme abortion provisions into law, decriminalising terminations right up to birth. This comes despite clear polling evidence that only 1% of the British public supports the move, exposing a ruling class utterly detached from the people it claims to serve. The change forms part of Clause 208 in the Crime and Policing Bill. It removes criminal liability for a...