Picking winners and losers

Listen to the podcast segment "Is Amazon being held hostage for bad blood?" from the March 31, 2018 episode

The President, the interventionist: President Trump needs to learn to restrain himself against the impulse to create enemies, whether real or imagined. While it's only circumstantial evidence, the weight of the evidence is overwhelming that his antipathy towards the Washington Post (owned by Jeff Bezos) is translating into a reckless campaign against Amazon.com (which was started by Jeff Bezos, but exists as a publicly-traded company). Bezos owns about 79 million of Amazon's 484 million shares outstanding, for about 16% of the total. 

Thus the President's ire is not only un-American, anti-market, and factually dishonest, it is also poorly targeted. 

At this pace, he is on track to make FDR look like Milton Friedman. The President's enthusiasm for government intervention in the economy produces lots of wicked outcomes and should be roundly denounced by anyone who considers themselves pro-markets and pro-freedom. 

This isn't about being pro-Trump or anti-Trump, but rather about drawing a consistent line around those things that any President should or should not do. And picking winners and losers? That's the kind of thing most of us should consistently recognize is beyond the pale.

Brian Gongol

Brian Gongol

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