What a day in the news. While having my coffee this morning, my emotions traveled the whole spectrum. Marco Rubio’s comments on capitalism made me pensive, Daniel Payne’s opinion piece on intolerance and the university campus made me cry, and Bloomberg’s run for president gave me type to ponder the what ifs.
Recently Marco Rubio, one of the Senators from Florida, spoke at the Catholic University’s Busch School of Business. William McGurn summarizes Rubio’s comments as arguing that shareholder capitalism needs overhauling, and the solution is “politicians such as himself making more decisions about where capital gets invested.” I see this as no different than what John Hickenlooper and Elizabeth Warren have stated in the past. This is nothing more than State Capitalism. Don’t get me wrong, government should be a referee in the economy, but government should stay out of the day-to-day decisions associated with running a business. To ensure this occurs, business needs to make better decisions when it comes to stakeholders. I can’t say this too strongly, business needs to control its own destiny by supporting American workers in their business decisions. Make good business decisions and you keep government out of your face.
The article that made me cry involves the condition of our college and university campuses. Daniel Payne begins his editorial with, “Most Americans know that higher education has for several decades been in the grip of a deeply intolerant, fanatical and uncompromising strain of progressive activism. Students and sometimes even faculty members regularly chase heterodox speakers off campus, demand complete fealty from terrified campus bureaucracies, and denounce and destroy each other over the slightest and most inconsequential ideological deviations.” I think this may be a bit sensational, but I do see his point. Often conservative professors feel uncomfortable on college and university campuses. So much so, it impacts how they teach their classes. I do think Payne is using an accurate descriptor when he says, “The environment isn’t unlike George Orwell’s Animal Farm, a place where no one dared speak his mind, when fierce growling dogs roamed everywhere, and when you had to watch your comrades torn to pieces after confessing to shocking crimes.” I cried this morning because there is some truth to this analogy.
The topic though that has me thinking is Michael Bloomberg entering the presidential primary as a Democrat. The reason I say I am interested is because there is not one Democratic candidate I would even consider voting for, until now. I do have some issues with him. First, I don’t think he should have apologized for stop and frisk policing. First of all, the fill title to the policing method is stop, question, and frisk. The police would “stop people who they suspected of criminal behavior,” then ask them questions to determine if there were problems. It did help to lower the crime rate in New York City. However, I am not black or a Latino which if I were, I would probably see things differently.
Bloomberg, mayor of New York during the use of this method, “defended the policy for years” until just recently when he apologized for it. Whether he really believes what he said in his apology is one thing, but now that he is running for president, he needs to remove hinderances. Elizabeth Warren, Pete Buttigieg, and Joe Biden have all done the same thing.
What I do find so interesting about Bloomberg is the reason he has chosen to enter the race. The WSJ says Bloomberg has an “essentially limitless budget for his Democratic presidential bid.” He has announced his entry into the race as a centrist. But, just like the other Democratic candidates, Bloomberg stated he has entered the contest, “to defeat Donald Trump and rebuild America.” He is worth $54 Billion and can self-fund his campaign. I assume if he is elected president, he will donate his salary as president. Trump who is only worth $3.1, billion donates his, with this quarter’s paycheck going to fight the opioid crisis.
Will Bloomberg win? Probably not! He reminds me of Ross Perot. If I were a Democrat, and I am not (not a Republican either), I would find Bloomberg interesting. At 77 years old, which is eight years older than me, he seems a little old for me as president. However, he does look like he is in good shape. And if what was reported is true, and the majority of Democrats are centrist, then maybe I’ll be incorrect about him not winning the nomination?
If I were Bloomberg, the first thing I would do is tell my news agency to follow the company’s policies. In other words, how they investigate and deliver the news should not change. Yes, he is the owner, and yes, he is running as a Democrat, but to have his agency announce they would not investigate Democrats, just Trump is wrong.
Lukas Alpert reported in the WSJ that “Bloomberg news won’t do investigative reporting on any Democratic presidential candidates now that the news organization’s multibillionaire owner, Michael Bloomberg, has jumped into the 2020 race.” The news agency stated, “We will continue our tradition of not investigating Mike (and his family and foundation) and we will extend the same policy to his rivals in the Democratic primaries.” This so-called courtesy will not be extended to Trump. However, Bloomberg News will publish investigative articles by “other credible journalistic institutions on Mr. Bloomberg or other Democratic candidates.” Although I think this is admirable, I also think it is an ethical dilemma. I do think it will be interesting to see if the same conflict of interest argument rises as we have seen with Trump.
I do think the actions Bloomberg himself has taken to distance himself from his business is good. He has established a management committee to run Bloomberg LP, which is similar to what Trump has done.
I don’t have a problem with a wealthy person running for president. I don’t have a problem with our politicians being wealthy if they have done it ethically. What I do have a problem with is the lack of consistency on how the news media treats progressives over conservatives. It will be interesting to see how this plays out. Howard Shultz is long gone; we’ll see how long Bloomberg lasts, nd what the news media tries to do to him.
This is my thought for the day!