"Fiat money is backed by men with guns; Bitcoin is not. So why should this thing have any value?"--Uber statist economist Paul Krugman.
Similar, from Volokh: Whether or not you believe the PPACA has been or will be good for the American people, it has certainly been good for the lobbyists and legislative staffers who wrote it, as Tim Carney explains. Glenn Greenwald comments further:This is precisely the behavior which, quite rationally, makes the citizenry so jaded about Washington. It’s what ensures that the interests of the same permanent power factions are served regardless of election outcomes.Adds Carney, this is “a good reminder of what Obamanomics and Bushonomics have in common.”
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