Ten years in the past whereas most of us had been centered on getting ready for the affect of Y2K, an occasion that was as soon as once more over-played within the media, there really had been different vital occasions going down on the earth. Amongst different key occasions, the EURO forex was first launched, there was a warfare happening in Kosovo, Hugo Chavez was elected President of Venezuela, Putin changed Yeltsin as President of Russia, and Invoice Clinton was acquitted by the Senate in his impeachment.
However, one thing else was going down that the majority of us by no means heard about. Wanting again at what transpired, and the top consequence, makes me assume that having the federal authorities concerned in enterprise may not be the most effective various. In truth, if historical past repeats itself, it could be the least fascinating various.
Here is what occurred. Because of shedding a federal case for racketeering and fraud in 1999, the Mustang Ranch, a authorized brothel close to Reno, Nevada, was forfeited to the federal authorities. The Mustang Ranch was the primary brothel in Nevada to be licensed. It was by far and away the most important authorized brothel as measured by annual income. At the moment, its revenues reportedly had been larger than the mixed revenues of all the opposite authorized brothels in Nevada. In 2002, a mere three years later, the property of the Mustang Ranch together with its work, its furnishings, its equipment, and so on. had been auctioned off by the federal authorities. In truth, the bar stools, the beds and bedding, the bidets and the room numbers had been auctioned off in an try to get well the previous proprietor’s again taxes. In the end, the federal government acquired inventive and put the Mustang Ranch up for bid on eBay the place it bought for the grand sum of $145,100. It has since been reopened by the profitable bidder.
The purpose right here is that if the federal authorities couldn’t make a go of a authorized enterprise entity whose principal merchandise had been prostitution and liquor, what’s their actual motive for moving into the banking, automotive and well being care industries? It actually cannot be revenue motivated! Are we now taking a look at utilizing our taxpayer on a unbroken foundation to offer ongoing bailouts to industries the place the federal authorities has elevated their involvement and gained extra management? Is that this the start of one other large Dance Chicken, the place we the taxpayers are being dragged to the dance ground involuntarily, or is it one thing extra in step with what used to go on on the Mustang Ranch?
From the place I sit, the conclusion is fairly apparent. In case you can not become profitable on the oldest career on the earth, you don’t have any enterprise working some other enterprise!
