I’ve had fun at the expense of Mark Cuban before (calling him a brainwashed slave and a useless idiot)… but he just makes it so easy!
He opened his mouth today on CNBC stating that Alibaba should not have been allowed into the US because it is based in a “communist country”. It took me a moment to wrap my head around his words… and then I realized as I read on that he was referring to China. I was confused because China is far less communist in many ways than the USSA.
Perhaps Mark hasn’t noticed the changes in the last few decades since Mao has passed on? Or didn’t notice that the new very capitalist China has surpassed the US as the largest economy on Earth?
The Alibaba Group (NYSE:BABA) was started out of Jack Ma’s apartment in Hangzhou, China in 1999 and is now worth over a quarter of a trillion dollars and serves more than 79 million members from more than 240 countries and territories. That is staggering growth rarely seen anymore in the fasco-communist USSA due to all their central planning and regulations.
Cuban stated that his biggest problem is that USSA centrally planned “insider trading” laws are hard to apply in capitalist China where they just don’t have a massive, centrally planned overseer of the securities market.
“Insider Trading” laws, upheld by large bureaucratic organizations who wiretap and eavesdrop on people like Martha Stewart, are ridiculous to begin with. The idea that big government should be watching over the markets to make sure that no one, ever, acts upon information they have is the height of big government and is typical of former-communist places like East Germany and Mao’s China. Yet, Mark Cuban, seems to think the opposite.
This post was published at Dollar Vigilante on December 12, 2014.