Case 2. INDIANAPOLIS -- "Drivers attending the Indiana State Fair or a major sporting event downtown may sometimes opt to grab a parking spot in someone's yard rather than pay higher prices in a parking lot, but some city officials think people who provide parking spots should get a permit first. City leaders are proposing that residents pay a $75 fee (per event) if they want to turn their yards into parking lots."
Case 3. Atlanta handed over all public-property vending to a single company' This company wants to throw two street vendors out of the spots they have worked for over a decade to build kiosks that rent for almost $20,000 a year.
(Source: the always excellent Carpe Diem).
The way bureaucracy exercises power -- and job security -- is by convincing us of imaginary risks so that we need to keep updated on obscure regulations and licensing requirements. By doing so, however, the economy is gradually becomes strangled. Furthermore, increasing regulations justify an army of auditors to make sure business people follow the law.
Unfortunately slow economic growth encourages the bureaucracy to increase regulations protecting ourselves against ourselves.
I have seen this movie already. In Italy. And it is like standing in quicksand. Slowly and steadily you feel suffocated by unrealistic constraints.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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