The Light Bulb Crony Capitalism Produced
Crony capitalism has become the main tool used by politicians to raise money and buy votes. Ever since Congress ceded the power of the purse and oversight of the federal government (bureaucracy) to the Executive Branch tax dollar giveaways have become common place. Always the opportunists, the Obama administration has used the bureaucracy to funnel your tax dollars to friends, donors, and bundlers. Obama’s tax dollar giveaway is so significant that it is not an exaggeration to say that every rich Democrat in America has probably received a large amount of your tax dollars, since Obama became the POTUS.
I assume you’ve seen the commercial below. It is a commercial that touts Cree’s LED light bulb while attempting to create a negative impression of incandescent light bulbs by placing a piece of bologna on an incandescent light bulb. You are supposed to be shocked at how much heat the incandescent light bulb produces. The commercial does not provide any important information regarding Cree’s LED light bulb nor does it obviously provide any background on Cree, but I am happy to provide both.
The only positive to an LED light bulb is that it lasts longer than other light bulbs. An LED light bulb is supposed to last 50,000 hours, which is 45 to 50 times longer than the typical incandescent light bulb, but that is the only positive. The negatives are many and ridiculous, so ridiculous, it is absurd to think that LED light bulbs are going to make incandescent light bulbs obsolete.
Before I address the outrageously high price tag for LED light bulbs compared to incandescent bulbs, I am going to provide you with the instructions for cleaning up a broken LED light bulb. Here are the instructions:
- Put on protective gloves, protective mask or cloth to cover your nose and mouth.
- Use a broom to sweep up the light bulb.
- Dispose of the broom, gloves and mask in a sealed container.
- Contact your waste management company to ask about disposal guidelines for materials contaminated with lead and arsenic. They may allow you to dispose of the bulb with your garbage, or may direct you to a hazardous waste center.
These LED light bulbs sound rather toxic don’t they? They are according to a study on LED light bulbs by University of California (UC) – Irvine. Researchers at UC Irvine discovered that red, LED light bulbs contain up to eight times the amount of lead (neurotoxin) allowed by California law. According to researchers, the LED light bulbs “exhibit significant cancer and non-cancer potentials due to the high content of arsenic and lead.” When studying white, LED light bulbs, the researchers concluded that not only did they contain lead, they also contain large amounts of nickel and copper. The light bulbs of the future appear to be hazardous to your health.
The price for LED bulbs compared to incandescent bulbs is outrageously high for very little light compared to incandescent bulbs. The lowest price you will find for an LED light bulb is $11, which is pathetic considering you can get a 100 watt incandescent light bulb for approximately 75 cents. How much wattage do you get for $11? The most wattage you can get from an LED light bulb is 23 watts, which means you might as well burn candles. Of course, when you use your political connections to eliminate the cheaper, better, non-toxic alternative to your product you don’t have to worry about price or quality.
I assume you are wondering why incandescent light bulbs are being phased out by the fedgov while LED light bulbs are supposedly the future of light bulbs, right? Look no further than the CEO of Cree, Chuck Swoboda.
Chuck Swoboda is a crony capitalist who has spent a lot of money lobbying Congress to outlaw incandescent light bulbs. His lobbying proved successful when the Energy Independence and Security Act became law. The law provided the competitive advantage Swoboda needed by placing restrictions on the sale of incandescent light bulbs and eventually forcibly phasing out the incandescent light bulbs completely. The competitive advantage Swoboda spent $100,000 on represents the new form of capitalism whereby companies use lobbying efforts and their political connections to destroy their competition (crony capitalism).
Swoboda and Cree have been able to secure tens of millions of your tax dollars from the Obama administration. Last year, Cree’s net profit was $87 million thanks to your tax dollars and the elimination of its strongest competitor, the cheap, non-toxic incandescent light bulbs it paid to have eliminated from the U.S. market.
Cree has enjoyed most favored status with politicians and bureaucrats. In 2010, Speaker of the House Nancy Pelosi signed off on a $140,000 deal to have Cree light the Rayburn House Office Building’s cafeteria. Obama also threw Swoboda and Cree $40 million in “stimulus” cash, and another $18 million via Department of Energy research investments and grants. Senator Kay Hagan (D-NC), not to be outdone by Pelosi, secured an earmark of $500,000 for Cree to light up Raleigh, North Carolina. What does all of this mean? It means Swoboda and Cree have their mouths firmly attached to the public teat and they do not plan on letting go until the teat is dry.
Swoboda and Cree are shining examples of the cancer known as crony capitalism. Democrats despise free market capitalism, but love crony capitalism because it allows them to use other people’s money (your money) to reward their donors and bundlers with “stimulus” cash and government grants. Companies like Cree prefer crony capitalism because it eliminates the need for a business plan or viable product.
What politicians have done to the incandescent light bulb is government tyranny. What happened to incandescent light bulbs is something you see in Marxist countries like Venezuela where the government shuts down businesses or nationalizes them in order to seize their assets for the good of the people. Democrats eliminated incandescent light bulbs and gave away your tax dollars to Cree for the benefit of the American people, right?