When people talk about markets, they talk about transparency. This word is being construed to mean different things than what transparent markets are really supposed to be about. There are two editorials today, one here and one here, that illustrate how damaging the past four years of excess regulation added to the books really are. Most of the really bad stuff in all the things Obama has passed come after the election, which is why it is critically important that he be defeated. Ironically, a lot of the things that take effect after 2013 affect personal liberty. If you are a fiscal conservative and a social liberal, things on the social liberal front will get a lot more regulated in January.
Dodd-Frank was one of the worst laws ever signed into history. It’s that bad. One of the things many people payed lip service to was transparency. But because of the way the regulations are being written, markets will be less transparent than ever before.
For example, if you are perceived by the government to be a risk to the financial system, they can go through every bit of data you have line by line. Right down to checking accounts and credit card statements. That’s not transparency, that’s fascism.
Do you save for retirement? Guess what. Dodd-Frank could eliminate your retirement account.
A study last year by the Oliver Wyman Group found that the Fiduciary Rule could result in higher retirement account minimums and cause 7.2 million individual retirement account (IRA) holders to lose access to investment advice. Even the Labor Department was unable to show that the rule’s illusory benefits outweigh its substantial costs.
We know that the far left wing of the Democratic party would like nothing better than to mimic what they did in Argentina and seize retirement assets to pay for bigger government. Heck, at the end of the Bush administration, there was even a sub committee hearing where that idea came out.
Dodd-Frank will affect you in ways you never dreamed about. For example, everyone is sensitive to the price of gas. Dodd-Frank will make energy trading less transparent, and drive up costs for every one artificially. Jack Gerard writes,
The SEC has broad discretion in determining what the disclosure requirement under 1504 will be. Yet indications from meetings with SEC officials are that it may favor a draconian approach that would irreparably harm U.S. oil and natural-gas companies.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 1st, 2014 | John Ransom
In Other News: WH Daily Intel Briefings Are Optional? Obama Attends Fewer than Half | Michael Schaus
John Ransom and the Social Security Show-- Get Your Social Security Questions Answered | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 29th, 2014 | John Ransom
In Other News: Hey White People! All GOP Policies Apparently Designed to Kill Black People | Michael Schaus