Runaway Train All Aboard Florida Seeks Subsidies

runaway-trainThere seems to be some confusion regarding the looming train-wreck of All Aboard Florida and tax dollars. All Aboard Florida is not seeking to impose a new tax to help fund the private venture. Instead All Aboard Florida is seeking federal loans that provide guarantees, rates and terms not available to other businesses.

All Aboard Florida is taking this railroad subsidy because they cannot otherwise obtain funding for the private project. Tax dollars are needed to help fund the project for private gain. Florida East Coast railways could not secure the resources needed to fund their business venture and instead will take it from the public trough that crony-capitalist feed off, your tax dollars.

The question that looms is how great of an investment will this be when the next bubble pops? Here is where we are now, can you spot the Long-Term Capital bubble pop? The real estate bubble pop?

Crony-capitalism is more inline with fascism than capitalism.  Railroad industry among others is one that remains heavily subsidized for the gains of a few.

Fascism is commonly defined as the merging of state and corporate power.

Then again you could read Murray Rothbard.

rothbard fascism

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