Fifty-five percent of small business owners and manufacturers would not have started their businesses in today’s economy, according to a new poll that also reports 69 percent say President Obama’s regulatory policies have hurt their businesses.
Much of the blame is heaped on Barack Obama, but let’s be fair: this mess has been a long time coming. It’s been thirty years since Chuck Schumer got the bright idea of making environmental violators criminals. Sarbanes-Oxley was passed under George W. Bush. And we’ve had NIMBY and the insane tax code as long as I’ve been around.
Barack Obama is just the current darling of a Luddite élite who not only has no idea how to manage a productive economy, but has a real horror of one ever arising, for both environmental and personal reasons. They’ve been working on making it impossible to legally operate a viable business in the United States and they’ve just about succeeded.
When you combine that with our financial “wizards of Bubbleland” who have created a credit allocation and monetary system increasingly divorced from economic reality, you have the makings of what we have: stagnation. And the prospects of that changing in the foreseeable future are slim.