Sunday, July 22, 2012

A Tale of Two Cities and Two Visions; Market-Driven Williston vs. Politically-Driven Fremont

"This tale of two cities has a moral, which is that no political or governmental leader can forecast the future. Barack Obama and his Nobel Prize-winning energy secretary thought solar panels were a huge growth industry. They bet billions of tax dollars and lost.

True, many private investors guessed no better. But they were risking their own money, not ours. And yes, government research provided some early help in developing fracking.

But Fremont and Williston are more evidence, if any is needed, that the collective decisions of participants in economic markets do a better job of allocating resources than the often contributor-driven decisions of a few politicians.

Williston's jam-packed motels and trailers don't look as glamorous as the Solyndra headquarters in Fremont. The weather in North Dakota is seldom as pleasant as the microclimate of the East Bay.

But the Bakken shale is doing much more for America's economy than the shuttered solar panel plant."


9 Comments:

At 7/22/2012 12:24 PM, Blogger Steve said...

Yep and a second example is Obama's bet on the American Auto Industry.

Oh never mind.

 
At 7/22/2012 3:09 PM, Blogger Scott Drum said...

Private money flows toward uses with the highest economic payoffs. Government money flows toward uses with the highest political payoffs.

 
At 7/22/2012 6:38 PM, Blogger sethstorm said...

Just a case of pandering for both.

 
At 7/22/2012 8:41 PM, Blogger Hydra said...

And yes, government research provided some early help in developing fracking.

================================

'Nuff said.

Hedge funds sometimes invest other peoples money on losing bets, same as government.

It is unrealistic to hold government to a standard private eneterprise could not meet on its own.

 
At 7/22/2012 9:04 PM, Blogger Ken said...

Hydra,

'Nuff said

Spoken like a child. Government didn't completely fuck up spending other people's money, so you're all for government spend all of other people's money.

Idiot.

It is unrealistic to hold government to a standard private eneterprise could not meet on its own.

Private industry doesn't take money people by force. When private industry they invest their own money and not others that was taken by force. That government shouldn't be held to a higher standard only shows your moral decay.

 
At 7/22/2012 9:07 PM, Blogger juandos said...

"It is unrealistic to hold government to a standard private eneterprise could not meet on its own"...

Well hydra you really have outdone yourself lad for truly stupid comments and you've minted a bunch already...

Government unlike a hedge fund uses extorted money whereas a hedge fund isn't holding a gun to anyone's head...

 
At 7/22/2012 9:32 PM, Blogger Scott Drum said...

Hedge funds sometimes invest other peoples money on losing bets, same as government.

The part before the comma is true, but the part afterward is not. If hedge funds had the same ROI as government's "portfolio", there wouldn't be any hedge funds.

 
At 7/22/2012 9:50 PM, Blogger Adios said...

It is apparent you have a bunch thugs following this blog. I take umbrage from some of those hostile comments but will save my energy for a more balanced forum.

 
At 7/23/2012 10:08 AM, Blogger Paul said...

Fremont "...voted 71 to 27 percent for Barack Obama over John McCain."

Is it any wonder they went bust with that many liberal nitwits running around loose? Liberals poison every thing they touch.

 

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