Please allow me a contrarian view on the economy.
Yes, the private sector is under assault, from the impairment of credit, to the attempted squelching of energy, the printing of money, the growing deficit, and increasing regulations, and perhaps the worst-Obamacare.
But, capitalism is very, very resilient. I am a small business owner, and three years ago, I didn’t think I’d make it this far. I may not make it yet.
Here are the few positives that only a few seem to be recognizing.
1-Businesses have, out of necessity, had to increase productivity. And that is happening. We have hunkered down, cut expenses, and rallied our employees.
2-Energy. In spite of Obama, there’s an oil and natural gas boom going on in this country. Cheap natural gas is bringing manufacturing jobs back to the US. Gas prices are down 10 to 12 percent in the last couple of months. This is a huge benefit to consumers and business.
3-The underground economy has grown in leaps and bounds, and cannot be measured. I know this because my business brings me in contact with those working for cash. The growing welfare programs, including disability payments, is creating this phenomenon.
4-Banks are not lending, because of Dodd-Frank over-scrutiny and meddling, but non-bank entities have cropped up to fill the void.
Am I saying the economy is flourishing? Heck no. I am saying that capitalism-the private sector, is like a weed, that is very difficult to kill, even for the regime now in power determined to kill it.
Keep the faith. We’ll make it through this.
I'm pretty certain that even in Communist countries, there is a flourishing black market for certain items, if one has the means to pay for them. Capitalism is the economic system of a free society, and the natural desire of people is to be free.
Thanks you for that post. The one part of the economy that appears to be growing right now is the underground economy. While of course it’s difficult to measure it’s size and growth, one interesting stat is the rise in in the amount of physical currency out there. Not all of that is being stuffed into mattresses.