December 31, 2024 • 6 mins
Chris breaks down the staggering impact of government regulation on private sector jobs and the economy. With over 300,000 federal regulators destroying an estimated 138 jobs each annually, the economic toll exceeds $5 trillion. Learn how excessive regulation benefits big corporations while strangling small businesses, stifling competition, and hurting GDP growth. It’s time to rethink bureaucracy and embrace efficiency. www.watchdogonwallstreet.com
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Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Ah jobs for all those soon to be fired government workers,
at least, I hope so. Yes, Yes, I'm hoping many
government workers get canned.
Speaker 3 (00:31):
Yeah.
Speaker 2 (00:32):
I want mass firings taking place, especially when it comes
to the whole regulatory circus that takes place in Washington TC.
Peter Saint Awn's just put out a really interesting piece.
Auburn University has just concluded a study saying that every
(00:54):
single government regulator destroys one hundred and thirty eight private
sector jobs. Everybody's having a collective freak out, at least,
you know, the half wit magatypes, not the ones that
are actually thinking out there about the all of the
(01:15):
terrible immigrants that we've got here in this country. How
about this, Every single regulator destroys one hundred and thirty
eight private sector jobs every year that you keep them
on the job. It's not a one time thing. Every
single year a government regulator is employed one hundred and
(01:39):
thirty eight jobs are gone. They're not created, they're destroyed,
they don't happen. You want to guess how many federal
regulators we have? Over three hundred thousand, over three hundred thousand. Man,
it's a surprise we even have jobs in this country anymore.
(02:02):
You actually think about this today, I actually think about
it today. That's GDP adjusted. That that's sixteen point five
million dollars of economic output for one one hundred thousand
dollars bureaucrat. Again, you're also thinking about how all of
(02:27):
these businesses out there are strangled and how big corporations benefit.
You are the ones that cut big checks to politicians
out there. We often talked about the watchdog on Wall
Street acts of evil big business politicians, and the mainstream media.
How about all the mom and pops that closed down
due to new regulations? Restaurant I can't afford. I can't
(02:51):
afford that new fifty thousand dollars low energy fan that
the regulator is making me buy.
Speaker 3 (02:59):
I get this all the time.
Speaker 2 (03:01):
This morning, I'm doing a guest appearance on a radio show,
and the host is asking me about these businesses that
are shutting down and why they seem so busy. I'm like,
you do understand that just because a place is busy
and it's got a lot of customers doesn't mean that
it's always going to be able to make ends meet,
especially when the government adds regulations on. I've discussed this
(03:24):
when it comes to my business, which is one of
the most regulated businesses.
Speaker 3 (03:28):
That there are.
Speaker 2 (03:30):
I couldn't start my business today, started thirty years ago.
Couldn't do it today with the capital that I had,
adjusted for inflation. The regulatory costs are just too damn high.
Do you understand, There's been nothing, nothing when it comes
to the financial sector, no new banks. We'd have new
banks start up in this country all the time, not anymore.
Speaker 3 (03:54):
Can't do it. Regulatory costs are so high.
Speaker 2 (03:58):
So all the big banks who are responsable for the
financial crisis benefited from the financial crisis and benefited from
the regulations. It was almost like a professional hit for
crying out loud, taking out all of the smaller banks
and also making it impossible for them to ever have
any new competition. Now, it's not conspiracy theory, it's reality.
Speaker 3 (04:20):
Don't believe me.
Speaker 2 (04:21):
Look it up, Look it up. Go how many new
banks have been created? In the United States. Just go back,
go back to twenty ten.
Speaker 3 (04:32):
Anyway.
Speaker 2 (04:33):
You know, the funny thing is, Peter writes in his article,
you can actually fire the bureaucrat.
Speaker 3 (04:38):
You could fire the bureaucrat and just keep paying him,
just keep paying him for life, and it would be beneficial.
Speaker 2 (04:49):
One dollar in taxes said that one dollar in taxes
destroys three dollars in GDP. Every dollar in taxes destroys
three dollars in gd How much a regulator does each
dollar in regulatory every regulatory salary destroys one hundred and
twelve dollars in output. Think about that, they got three
(05:15):
hundred thousand employees in regulatory activities. That's a regulatory cost
to the overall economy of over five trillion dollars, which
is one fifth of our overall economy. So if you're
thinking about this, and if you're concerned about all of
these government workers and what are they gonna do if
(05:37):
they get laid off because of Elon and Vivek and Doge,
maybe they can go out and get a real job.
I'm just saying, yeah, I've been going after ridiculous regulators
for some time because I know how useless they are. Hey,
they used to be portrayed properly in the in the movies. Again,
(05:59):
no one can refer you know, you can't forget what
was his name, Walter Peck. Walter Peck there who shut
down the laser containment grid there at the Ghostbusters headquarters
and let all of the ghosts out.
Speaker 3 (06:12):
Yeah. Watchdog on Wall Street dot com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Ah jobs for all those soon to be fired government workers,
at least, I hope so. Yes, Yes, I'm hoping many
government workers get canned.
Speaker 3 (00:31):
Yeah.
Speaker 2 (00:32):
I want mass firings taking place, especially when it comes
to the whole regulatory circus that takes place in Washington TC.
Peter Saint Awn's just put out a really interesting piece.
Auburn University has just concluded a study saying that every
(00:54):
single government regulator destroys one hundred and thirty eight private
sector jobs. Everybody's having a collective freak out, at least,
you know, the half wit magatypes, not the ones that
are actually thinking out there about the all of the
(01:15):
terrible immigrants that we've got here in this country. How
about this, Every single regulator destroys one hundred and thirty
eight private sector jobs every year that you keep them
on the job. It's not a one time thing. Every
single year a government regulator is employed one hundred and
(01:39):
thirty eight jobs are gone. They're not created, they're destroyed,
they don't happen. You want to guess how many federal
regulators we have? Over three hundred thousand, over three hundred thousand. Man,
it's a surprise we even have jobs in this country anymore.
(02:02):
You actually think about this today, I actually think about
it today. That's GDP adjusted. That that's sixteen point five
million dollars of economic output for one one hundred thousand
dollars bureaucrat. Again, you're also thinking about how all of
(02:27):
these businesses out there are strangled and how big corporations benefit.
You are the ones that cut big checks to politicians
out there. We often talked about the watchdog on Wall
Street acts of evil big business politicians, and the mainstream media.
How about all the mom and pops that closed down
due to new regulations? Restaurant I can't afford. I can't
(02:51):
afford that new fifty thousand dollars low energy fan that
the regulator is making me buy.
Speaker 3 (02:59):
I get this all the time.
Speaker 2 (03:01):
This morning, I'm doing a guest appearance on a radio show,
and the host is asking me about these businesses that
are shutting down and why they seem so busy. I'm like,
you do understand that just because a place is busy
and it's got a lot of customers doesn't mean that
it's always going to be able to make ends meet,
especially when the government adds regulations on. I've discussed this
(03:24):
when it comes to my business, which is one of
the most regulated businesses.
Speaker 3 (03:28):
That there are.
Speaker 2 (03:30):
I couldn't start my business today, started thirty years ago.
Couldn't do it today with the capital that I had,
adjusted for inflation. The regulatory costs are just too damn high.
Do you understand, There's been nothing, nothing when it comes
to the financial sector, no new banks. We'd have new
banks start up in this country all the time, not anymore.
Speaker 3 (03:54):
Can't do it. Regulatory costs are so high.
Speaker 2 (03:58):
So all the big banks who are responsable for the
financial crisis benefited from the financial crisis and benefited from
the regulations. It was almost like a professional hit for
crying out loud, taking out all of the smaller banks
and also making it impossible for them to ever have
any new competition. Now, it's not conspiracy theory, it's reality.
Speaker 3 (04:20):
Don't believe me.
Speaker 2 (04:21):
Look it up, Look it up. Go how many new
banks have been created? In the United States. Just go back,
go back to twenty ten.
Speaker 3 (04:32):
Anyway.
Speaker 2 (04:33):
You know, the funny thing is, Peter writes in his article,
you can actually fire the bureaucrat.
Speaker 3 (04:38):
You could fire the bureaucrat and just keep paying him,
just keep paying him for life, and it would be beneficial.
Speaker 2 (04:49):
One dollar in taxes said that one dollar in taxes
destroys three dollars in GDP. Every dollar in taxes destroys
three dollars in gd How much a regulator does each
dollar in regulatory every regulatory salary destroys one hundred and
twelve dollars in output. Think about that, they got three
(05:15):
hundred thousand employees in regulatory activities. That's a regulatory cost
to the overall economy of over five trillion dollars, which
is one fifth of our overall economy. So if you're
thinking about this, and if you're concerned about all of
these government workers and what are they gonna do if
(05:37):
they get laid off because of Elon and Vivek and Doge,
maybe they can go out and get a real job.
I'm just saying, yeah, I've been going after ridiculous regulators
for some time because I know how useless they are. Hey,
they used to be portrayed properly in the in the movies. Again,
(05:59):
no one can refer you know, you can't forget what
was his name, Walter Peck. Walter Peck there who shut
down the laser containment grid there at the Ghostbusters headquarters
and let all of the ghosts out.
Speaker 3 (06:12):
Yeah. Watchdog on Wall Street dot com
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