Ma Bell, Misunderstood: Capitalism destroys monopolies, government protects them

[FreeSTOCKnolossROBOT]

thanks Peter...

[ghostclownprophet]

Separation of church and state was a good idea.

Separation of economy and state is a great idea.

[MrDeathSmiles]

I like Schiff. He's not some rich guy hanging out in his ivory towers all of the time, but he has a show where he connects with people and he comes down to the streets and talks to OWS.

[MajorRugburn]

i left AT&T because they kept on overcharging me in minutes. they would add 1 minute on top of the rounded-off minute. when i brought it to their attention the opened an "investigation" that they closed on their own with no results. also, you cannot bring a class action suit against AT&T because by signing up for their service you have agreed to arbitration and litigation is not an option. check the minutes they charge you on their website vs. the minutes you talked recorded by your cell phone.

[noclouds111]

@MajorRugburn Regarding litigation, & in a similar way, AT&T has 'circled the wagons' against their employees by making it as difficult as possible to raise red flags against AT&T's policies, which are corrupt, at best. I can tell you that the CEO of AT&T was born without a heart.

[MajorRugburn]

@noclouds111 we can only vote with our dollars, which are soon to become worthless too. i'm with T-Mobile now, we'll see how that goes :))

[drankin2112]

What stopped monopolies before monopoly laws? Six banks have merge and acquired themselves into holding 70% of all US deposits. What stops that, the people? Right. How mant Americans are direct depositing thier paychecks into the hands of the very companies that desimated the value of thier home. Bankers don't answer to the people and they know it. Wall Street = Diversification : Main Street = Concentration. What is the difference between a regulation and a law? De-regulation = lawlessness.

[xMaXiMuSx]

@drankin2112

yes but you are missing the point slightly.. These "regulations' they pass dont really regulate anything.. all they do is protect the well established big corporations who are politically connected.. They make it more difficult for small, not politically connected corporations to compete because the cost of compliance goes through the roof.. WE need to enforce consituitional regulations.. Laws against fraud, bankruptcy laws, contract laws and so on..

[drankin2112]

@xMaXiMuSx I agree. I am for removing regulation, or law, that is designed to elimainate fair competition. Well said.

[noclouds111]

@xMaXiMuSx Agreed. And the corporations that have the most dollar resources, have the most lobby influence, and eventually become the benefactors of favorable regulations.

Back during a time when most everyone would benefit from economic growth, corporate corruption was not an issue. Economic growth is dead here, and a major contributor to its' fall was NAFTA...thanks to Bill & Al. IMsomewhatHO!

[jeffiek]

@drankin2112 "Six banks ...."

The FED has been around since 1913. The FDIC since 1933. There are so many regulations on banking you couldn't read them all in your lifetime.

You want an answer to the current economic crises? Why don't you ask the guys that have been in charge for decades? You clearly think they can solve things in spite of a 75+ year track record of failure.

"What stopped monopolies before monopoly laws? "

Nothing, there are none. Law creates monopolies.

[drankin2112]

@jeffiek Since some regulations are erronious we should remove all regulations? That argument is like saying that if you remove all laws, people will not commit crimes. It's not a question of ideological purity. Captialism is about one thing, leverage. Corporations will always use leverage over thier competitors, the public, and thier employees to the maximum extent they can get away with legally. When the public gets over-leveraged, socialism gets introduced. We are a mixed society.

[mrrobotica]

@drankin2112 Explain to me this mechanism of leverage. How does it work in a completely capitalist society? How is it a bad thing? Explain to me how this means we should be a mixed society.

[drankin2112]

@mrrobotica (1)

Your post reads as if I owe you an explaination for something. Please don't do that. I am simply posting my view on youtube. You are implying either that corporations don't use leverage, which is silly, or that a mysterious force inherently prevents over-leveraging in an unregulated society. I will take the time to offer you one simple and relevant example of overleveraging but it is only one example.

[drankin2112]

@mrrobotica (2)

Following the housing bubble, a handful of US banks had merged and acquired thier way into holding nearly 70% of the country's depository accounts. In 1999, a Glass-Steagall provision was repealed after 70 yrs of preventing the same holding company from controlling both a commercial bank and an investment bank. This restored an unethical point of leverage whereby the granting of credit, and the use of credit, can be managed by the same entity.

[drankin2112]

@mrrobotica (3)

Unfortunately, a society needs a system of laws to prevent such obvious and gross conflicts of interest from being exploited. The first obvious change you could feel from this was that the profit model of the commecial banks moved from charging front-end banking fees, to selling and investing in back-end financial products. Around 2000, we started to see banks offering inhouse brokerage services.

[drankin2112]

@mrrobotica (4)

This gave commercial banks a complete competitive advantage over community banks because they could offer banking at nearly no cost to the consumer. Commercial banks don't compete with each other through pricing, they colude and fix prices on the front end. This leverage created a boom in commercial banking leaving smaller banks to be bought out mainly for thier depository base and thier real estate.

[drankin2112]

@mrrobotica (5)

Not long after that the Derivitives and Credit Default Swap (CDS) markets were born. They were invented by the investment bankers and, conveniently, are totally unregulated and demand no capital requirements from the commercial or investment banks that use them. In this system a single entity can write a loan, sell that loan, write insurance against that loan, and wager that the payor will default on that loan. None of these actions require the entity to depart with any money.

[drankin2112]

@mrrobotica (6)

They invented a casino where they can legally gamble with the citizen's deposits with the implicit guarantee of FDIC insurance. This is a form of bank de-leveraging. The leverage is passed onto you. Prior to the 1930s, private banking was extremely unpopular among citizens for a litany of reasons that preceeded and culminated in the Great Depression of the 1930s. Prior to 1933, you literally deposited your money into a bank with no warranty that you would ever get it back.

[drankin2112]

@mrrobotica (7)

Without "some" system of guaranteed deposits, an economy like the US economy just isn't possible. How does this bank deleveraging create leverage over you?

1) The narrow visioned incompetence of a small number of bankers can destabilize local, national and global economies.

2) They can gamble with the implicit promise that you will cover thier losses in threat of condition 1).

3) They are exempt from prosecution because effective punishment would invoke condition 1).

[drankin2112]

@mrrobotica (8)

4) They can't be easily torn apart under threat of condition 1).

5) A small number of companies control most lending in a free society (picking winners and losers).

6) Capitalism isn't free or fair if businesses don't have equal access to capital.

etc...

[twk373]

@drankin2112

5) You are an idiot. Lenders do not pick "winners and losers." It is up to the borrower to demonstrate to the lender that they are a good bet.

6) In a free market, everyone has equal access to capital, silly. You just mad that capital, in fact, has a price.

[drankin2112]

@mrrobotica (9)

In your world view, who do you see guaranteeing bank deposits? And, through what mechanism do you enforce it? The only solution so far, that has worked, is to have the govt. do it and regulate the shit out of the banks who have thier hands in the cookie jar. It isn't feasable to just go back to pre 1933 banking.

[twk373]

@drankin2112

You cannot be serious. No one "should" guarantee bank deposits. Are you insane? Now, if someone can make a PROFIT guaranteeing bank deposits (c.f., the insurance industry) then it's great.

The cookie jar is the government, silly. If you hate cookies such much, get rid of the jar.

Oh, it's very feasible to go back to free banking. But statists are terrified of that because then they'll lose all their power.

[drankin2112]

@twk373 You discredit yourself by sounding hostile and tossing around insults for no reason. Lenders do pick winners when they eliminate fair competition and access to lending. Businesses used to have many more lending sources than they do now. But that doesn't matter because you obviously put zero thought into the economic fallout that cancelling FDIC and SIPC would create. Instead, you just respond with extremely predictable rhetoric. Good luck.

[twk373]

@drankin2112

No, you discredit yourself by being wrong.

What the fuck, exactly, is "fair competition?" FACT: no one is entitled to a loan--indeed, no one is ever entitled to some else's property. PERIOD. However, genius, lenders are looking to make a profit, thus they (shock!) do their best to only loan to those who can pay it back with interest.

The FDIC as it has no hard money with which to guarantee anything, anyway--the "guarantee" is an lie, like Bernie Madoff's ponzi scheme. Wake up.

[SMWhit3out]

The Government picking winners and losers. The downfall of us all.

[Dejavo]

Hey Peter. I think you're doing a great job but I just want to give some input:

Listen more to what the guests are saying. Don't ignore them with whatever smart thing is on your mind at the moment. Reply to what THEY are saying. And don't cut them off.

[bullshit3118]

@Dejavo hacks and agent provocateurs often do that. They interrupt because their logic is twisted and flawed. They might have sudden bursts of anger...how can anyone trust a guy who claims to be in the 1%. he's a hack and his own investment company is a failure. Ask his investors from 2008 until now.

[TWSceptic]

@Dejavo Doesn't seem like a problem in this particular video. He does that sometimes though and I agree he could let his guest or callers speak a bit longer sometimes.

[Tomta20012]

Honestly the govt its so freaking dangerous

[brendanmcwilliams]

If tobacco or alcohol companies miss a lobbyist payment to the gov't, we will turn on them faster than we did on our former allies, Saddam Hussein, Gaddafi, Stalin (also known as "Uncle Joe" back when Churchill was warning FDR not to support that genocidal maniac), etc.

[brendanmcwilliams]

I forgot prohibitions. Where the gov't condones certain industries like alcohol, tobacco, etc and receiving taxes, kickbacks, and lobbyist "gifts", while banning less harmful and dangerous substances like marijuana (actually, most drugs are seen as being safer than alcohol, whether speaking on long term health or driving under the influence of).

We spend tons of money buying hemp products from Canada because it is illegal to grow in the US.

[brendanmcwilliams]

If gov't is not involved, people have control of monopolies.

If a monopoly charges too high of price or irritates the people (unfair payment for their workers, etc), boycotts and competition quickly bring the company to it's knees.

On that note, here is a link to the list of companies supporting SOPA bill (internet censorship bill disguised as Anti-piracy). Boycott if you like

gizmodo.com/5870241/presented-­without-comment-every-single-c­ompany-supporting-sopa-the-awf­ul-internet-censorship-law

[brendanmcwilliams]

Monopolies only exist if people allow them to.

When gov't is involved in funding, supporting, or bailing out private industries and monopolies, problems occur and power to end monopolies is taken from the people.

For instance, tax dollars in Fanny and Freddie (Housing), guaranteeing contracts to Pharma in Healthcare bill (Medicine), the Fed (tax dollars to private company setting interest rates and inflation), artificial gov't student loans (allow infinite tuition increases).

[adamgreen222]

I'm curious to hear more on the spying of brokers on customers. Also, if anyone benefits from obstacles to new fund competitors, it's the established funds, so follow the money to see who wrote the Patriot Act.

[Truthpolice9698]

Herbert Hoover formed the cartels on agriculture. Government sustains cartels, absolutely!

[bullshit3118]

@Truthpolice9698 Yeah, especially if the government is staffed by corporate lackies and lobbyists. If we didn't have government you would really see the monster of corporate fascism. Government is a tool. There are free markets RIGHT NOW. The Glass Steagall Act is gone. The SEC is a limp dick. What more do you want? or is it because the super rich don't allow you into their club. You free market twats just wanna steal from the rest of us just like your paymasters.

[Truthpolice9698]

@bullshit3118 If we had capitalism the banks would have failed.

[bullshit3118]

@Truthpolice9698 Firstly read the definition of capitalism and get back to me on that. You have no idea what it means. Secondly, if we had GOVERNMENT regulated markets and these fucking schyster bankers were held accountable by the law, the banks would have failed. Do you get it now? free market bankers are in charge and there is no rule of law. Get your head out of your ass. This is the free market you want so bad. Quit your bitchin.

[Truthpolice9698]

@bullshit3118 If we had capitalism and a free market the banks would have failed. Regulations never work. Bernie Madoff.

[bullshit3118]

Schiff's father and himself are tax evaders. They think that no one should pay taxes and that government should not regulate business. He believes in the private sector and free markets, and no regulation. Well, the SEC doesnt regulate. Corzine hasn't been indicted. ZERO regulation. How's that working out for ya? In 2008, he devalued his client's assets. He aint Warren Buffet buddy, wake up. He's a not a patriot, he'd leave the U.S. in a second if the economic shit hit the fan.

[Truthpolice9698]

@bullshit3118 Schiff had a father, more than we can say for 43% of children today.

[bullshit3118]

@Truthpolice9698 Oh that's a great response. The "truth" is that Americans are only patriotic if they get paid. Nice way to break with topic, very "truthful." 

[11hani11]

The problem is I think there is no other GSM service in the USA, so it does create a monopoly in a way. I'm all for free markets but if ATT had taken over T-mobile, the rates would have went up. 

[turboteabag08]

Amazing how Peter gets attacked by people whom I thought would agree. They agree with Mr. Schiff that socialism is not the answer but then say the Government was/is spending the money the wrong way. Who else wants to pull their hair out when you hear this nonsense?

[bullshit3118]

@turboteabag08 Ya know why? because this connecticut financial investor fraud is really a 1% wannabe. He's a disinformation artist and his poor track record at his own firm tells you about his financial success. Go look it up, you can find it at wikipedia. he's another one of these Von Mises types that blame socialism (in line with Fox News)--except if it pays him well. Well yeah, he's just another angry business guy that wants to be rich, but the 1% wont let him. personally? he's a shill.

[coturnix19]

@bullshit3118 he is 1%, he himself said so. Your just 15 years old acne-covered troll. It is ok, young people are stupid, youll get better.

[bullshit3118]

@coturnix19 Ill get better at learning how to use a gun and blow your goddamned head off :)

[Garyscott7]

As pre-told in Atlas Shrugged. Government workers will always act the same.

[Tressco]

Government is just a tool, not an entity.

If you have no maximum wage/reasonable taxes for the super-rich to avoid monopolies, capitalism grows to corporatism all naturally like a calf grows into a bull, since money is the best dopamine trigger & therefore highly addictive. When surplus money is invested to buy influence through bribing criminal elements in government, the only tool for citizens to suppress medieval slavery is out of hands...

Don’t blame the car, blame the driver.

[brendanmcwilliams]

@Tressco

Corporatism is Cronyism. It only works when government helps one company over another, bail out one over another, give tax payer money to one rather than another (specifically Fanny Mae and other Private/Govt companies.

[bullshit3118]

@brendanmcwilliams Have you ever heard of the "revolving door" in government? The same people working for big business are being appointed in government. Politicians are being paid off. it's not OUR government. Wake the fuck up. You blame the government but its big business running the show. You are arguing for your own enslavement.

[pipem4n]

@Tressco

toll righ?

blah blah blaha, government tool right? who is in charge?

[anothaview]

@Tressco thats not what they said to Toyota

[bullshit3118]

@Tressco great wisdom there. Schiff is really arguing for the private sector and blaming the government. And how is that private sector "free market" privatized system working for us now? No SEC. No law enforcement? Sounds like a free market to me. Schiff once compared himself to Warren Buffet, but he's doing videos on youtube. go figure.

[ch1kusoo]

Lots of crony capitalism and government regulations on the telecom industry here in Canada, especially with the "anti-foreign owernship" regulations that insulate the telecom companies. The left here whines when the telecom companies charge an arm and a leg for services but at the same time, whine when any government threatens to repeal those regulations.

[bullshit3118]

@ch1kusoo yeah, but your country isnt fucked, in debt, without health care, 15% unemployment, and living day to day wondering how you can ever pay the bills. Canadian, thank your lucky stars your leaders have some compassion for the poor. You don't have to worry about becoming an indentured servant for life by breaking your leg or getting sick. And we got Schiff here arguing for the fucking law of the jungle when there is already rampant deregulation in the evil "government." Wake up will ya?

[treysparker]

@ch1kusoo

Absolutely right. The CRTC is an absolute JOKE!

[doctorjtr]

The FEDERAL RESERVE is a private bank and a monoploy!

[bullshit3118]

@doctorjtr Right, it's not the government. it's a private enterpise running our country.

[AndroidPolitician]

This is a joke right? Bell became a monopoly in 1913 because the government decided not to enforce the law allowed it to monopolize the market, then about 70 years later it broke it up.

And since when does profitability mean higher living standards? For all the profit companies get they can't build a public transportation system or create things like the internet, GPS and superconductors.

[ElJefer]

@AndroidPolitician What happened to companies that tried to compete with Bell? Did Bell abuse its power?

It's not profitability that creates higher living standards, it's competition, innovation, and efficient production.

What do you mean companies can't build a public transportation system? Of course they can't because they're NOT PUBLIC. A company that is private, by definition, is not public. What kind of logic are you using?

And you said companies can't create the Internet? Evidence?

[AndroidPolitician]

@ElJefer

Yes it did, it used anti-competitive tactics to drive everyone else out of business.

Ok call it a transportation system then (trains, buses etc.) and the evidence is none of those things are profitable, the internet, GPS, computers, satellites took decades to create with what today would billions of dollars without any kind of profit.

[bullshit3118]

@ElJefer You are a fucking moron. What happened to Tesla's innovations when JP Morgan burned down his Wardenclyffe Tower because he had monopoly on copper wires? Are fucking stupid, the Android was saying private companies dont give a shit about the public's welfare or the advancement of society. yeah ok public is strictly separate from private..fuck you. What the fuck, Bell had a monopoly for 100 hundred years? NO competition. Stupid, thats an abuse of power.

[ElJefer]

@bullshit3118 Can you show me a source for JP Morgan setting fire to the tower? If he did, that's a criminal case that is covered by the free market.

Which Android are you talking about?

Companies don't have thoughts, so they can't care or not care about people.

You haven't answered my question about Bell's methods of keeping companies from competing. Notice that anger might mean you aren't as confident in your beliefs as you should be.

[bullshit3118]

@AndroidPolitician Exactly the government is a traditional tool or mediator between the elite and the people. it can be anything and with differing varieties, but the reality is that private enterprise buys off the "government" and corrupts it. Schiff is a shill that influences halfwit Americans that are selfish and ignorant. basically. other middle upper class businesspeople that still beleive in this bullshit American dream.

[AndroidPolitician]

@bullshit3118

True although it's important to note it only acts as the mediator when it's pushed by the people, the government is inherently controlled by whoever owns the most in society.

[bullshit3118]

@AndroidPolitician of course! ;)

[VisionsOfTheNobody]

Government does protect monopolies, yet a market without any intervention can also lead to a monopoly, which is why anti-trust companies were created back in the 19th century. That system was much more effective than government regulation the United States imposes today... Classical liberalism has always been a great ideology regarding the expansion of civil liberties, however, this is of course, using the US as model for this idea, in other countries it may not be the best way to go with...

[xcvsdxvsx]

a monopoly/polyopoly in telecommunications would never become an issue because new companies can enter the marketplace if the monopoly refuses to charge a reasonable rate for their service. But what would happen if some entity managed to gain control of 95% of the worlds supply of some useful natural resource, then would there be a need for government intervention? what if that resource was farmable land we would have no choice but to buy from the monopoly.

[ElJefer]

@xcvsdxvsx I don't see the 95% figure as realistic, but assuming it for the sake of argument, the company that owns 5% may survive long enough to bankrupt the 95% company with its lower prices.

As far as farmable land, that would be impossible, because people live on farms etc, and companies can't force farmers to sell their land without government. But if they did own 95% of farmable land, people would buy fish or fruit or meat and the 95% company would lose revenue until it imploded/changed

[xcvsdxvsx]

@ElJefer ok then lets use a theoretical example. Say we find a new isotope of some element that we never knew existed naturally before, this isotope can only be found in one specific part of the planet which is wholly owned by one man, it turns out that this isotope can be used for cold fusion which would create a nearly limitless supply of energy. The man decides to sell this resource in quantities which do not meet our planets demand for energy. Should something be done?

[jcolbyv]

@xcvsdxvsx No

[jcolbyv]

@xcvsdxvsx Find another method of production. If the competitions price is 90% of everything, there is a lot of room for competition. Do you advocate killing the person and taking the property? Or, say it's the product of this persons mind, do you advocate enslaving him?

[xcvsdxvsx]

@jcolbyv lets be clear i don't advocate anything its just a mental exercise. i would say that there could potentially be a legitimate way to cease his property for the greater good if we are talking about dr evil here who has the only cure and is demanding one hundred gazillion dollars. i would say a nationwide referendum with 99% of the population voting to cease his property may be a legitimate mechanism for wealth redistribution in times of crisis.

[bullshit3118]

@xcvsdxvsx Yes, we need a responsible government for and by the people in the case of monopolies. The U.S. government intervened in 1913 and made the Bell Company put a cap on their profits at 10%. However, they created subsidiaries in Western Electric and Bell Labs to try and avoid this. Only selfish and stupid men would argue against this because the fiat money system is a joke. It's greed, just like Schiff. We need a people's government, not this fucking banker corportacracy.

[dubified89]

This is really messed up that government regulations literally drive companies that could otherwise provide a good service to us for cheaper out of business. People need to learn that the free market is not a goddamn conspiracy against 'working people', it's government who are the conspirators.

[HachiZenki]

The flip side is true as well, government sanctioned monopolies also hurt consumers. All you have to do is look at your local utilities, cable provider, and the Jones Act.

[a4finger]

Keep spreading the truth about government monopolies Mr. Schiff!

[eleganz]

Peter, you made a great point with the mobile phone industry but how would the oil industry be beaten? they're so filthy rich they could just buy-out or suppress new technology and competitors before we even hear of them.

[Gollywog]

@eleganz

Just look at Toyota, Honda and even Tesla that are putting a dent in the oil industry and also alternate energies like solar and wind. Soon solar will become grid parity and then you'll see the oil company declining

[dubified89]

@Gollywog Hyrbrids, as well, cut down on oil consumption. And the more advanced they get the less gas they're need to run. Shoot, they might be talking about bailouts for the oil companies in a few years to 'save the economy' just like the banks!

[UnoriginalUsername06]

This is a reasonable argument, but there is one flaw. Even if the government does break up a merger, you can't blame the government for a company's inability to compete. Merging with another company is just one of many ways to raise capital.

And, in reference to the Blockbuster/Hollywood movies example, even merging wouldn't save them. They provided an outdated service that doesn't have enough demand. They went the way of the blacksmith, and that is no one's fault.

[Xasew]

@UnoriginalUsername06

The point isn't whether Blockbuster/Hollywood Movies would've been saved or not. The point is that they stopped the merger.

[Kangaryoo513]

peter schiff 2016

[troublehoff]

go RP - i'm not even from the USA

[Stokjockey]

Ron Paul 2012 that is the answer

[Go2thebeach69]

PM's : It's all going to the insurance agents, investment advisors... hell I learned from the best... YOU!!

[Go2thebeach69]

Guess you are listening to me now??.... 6 minutes in.... told you they are not playing around Peter.... that's just the Patriot Act!!

[noclouds111]

@Go2thebeach69 In fact, the connection between the phone companies, the Patriot Act, & our dear government goes much deeper than folks realize. I will not elaborate here, but it would make your toes curl.

[Go2thebeach69]

@noclouds111 i know what you are talking abut

[johammbass]

4 people are mentally handicapped

[mcapps1]

But doesn't AT&T / Bell companies own the basic infrastructure and are forced to "share" it with these other companies?

[bilpayne]

AT&T sucks

[kinceymoy]

Peter always has the best music

[LibertyDownUnder]

In Australia, were in the process of nationalising our broadband industry.

You yanks need to be thankful you have patriots like Peter exposing these activities, and explaing the meaning behind it all.

[fiapop]

nice Brazilian song in the end there!

[Bristecom]

Well... I disagree that wireless providers are in a competitive market. The current companies are able to raise prices and cap data bandwidth at a ridiculously low amount (at the same time pushing services like HD streaming that use a lot of bandwidth). But I still blame the government because they only allow certain bandwidths and certain providers to do certain things which makes it near impossible for new companies to come in. And of course I don't believe government should prevent mergers.

[InspireImages]

I can tell you're diggin that new microphone Peter. :-)

[noclouds111]

Post 2..My point is this..every customer is subjected to a 'batch' type mentaliy, where repair, & installation of your service is restricted to a given, average time parameter. No employee wants be caught going beyond this parameter, whether that time period is fair or not. Employees are diciplined as a result.

The result is to short-change the customer.

This is AT&T's true character.

My view is that Mr. Stephenson should be fired for being presumptuous to ASSume that the deal would go through.

[noclouds111]

Here's a different view from a 39 year employee at AT&T.

I interact with a large cross-section of employees across the US, and most of them agree with me.

Within AT&T, there is pressure applied to employees to misrepresent service parameters which are reported to the Dept of Utilities.

The joke is that we each and all 'compose' our timesheets at the end of the day so that AT&T looks like a champ, and the employees are rewarded accordingly.

Sound illegal? I think that it is.

Continued... post 2

[radiovan1]

I am still suprised that nobody even mentions fascism, it's right infront of everyones noses, yet nobody smells it...the current USA gov't would make Mussolini proud.

[Salford999Red]

Cool music Peter. :)

[anevilpettingzoo]

@NBrown654500 Bell was a GOVERNMENT granted monopoly. It prohibited placed a barrier to entry to other companies. Comcast, too, is a GOVERNMENT granted monopoly. Natural monopolies generally don't exist unless due to economy of scale they produce the best product at the lowest price. Can't complain about that!

[wadosbn4lyf]

Speak!!!

[HotMustard420]

Two morons don't like Peter's shirt.

[NBrown654500]

So you don't support any antitrust enforcement? Remember ma bell and how prices to the consumer dropped!! I bet if Comcast was broken up now it's customers would end up paying less.

[gunscarscigars]

The child mentality of the sheeple that rely on the government to solve every problem that exists is so disturbing. Their solution to the problem of a monopoly (myth) is to use the ultimate monopoly (government) to achieve what they feel is right through force.

[acotytamwiesz]

@gunscarscigars yes , it is disturbing. It proved inefficient hundreds or thousands of times, but still, sheeple always need one more time, and again.

[trekkie102]

@gunscarscigars This is just one of their many contradictions.

[bullshit3118]

@gunscarscigars Guys that smoke cigars are really cock suckers and everyone knows it. ;) there are currently five banks running the show you fucking shill. Monopolies are myth? JP Morgan and Goldman Sachs have its former executives operating the Federal Reserve, which is NOT a government agency. You fucktard, the government is currently unregulated and powerless. How's that free market action for ya? nice name, if I worked for Schiff, I call myself guns, cars, and cocksucker too.

[coturnix19]

@bullshit3118 It is governmental agency, you retard. It gets its power from government. And tru, the government today is not regulated, but it is powerful and vicious, it can kill you without the court order and not answer to anyone, or take your belongings or put you in jail, and u cant do a shit about it. Some sheepel never learn...

[ForTehNguyen]

Govt just ensured that T-mobile will die out

[qtutoringhelps]

Research in Motion (RIM) seriously needs a new executive team. What an embarrassment.

[tapary]

In my opinion, this is one of the best arguments of a free society. Murray Rothbard's writings on this subject are phenomenal. Rothbard also references a book called "The Triumph of Conservatism" (can't recall the author's name), which shows how the progressive era was about big business using govt. to achieve what the free market denied it (and said book was written by a left-wing historian).

[yabcoder]

the government is so out of control and pathetic.. thank you schiff.. the government is destroying america

[powergirl901]

@yabcoder No shit? You noticed that too...

[yabcoder]

the government is so out of control and pathetic.. thank you schiff.. the government is destroying america

[TheOrdinaryEconomist]

I could not agree more!