It’s going to be decades before any company sets up a factory in this country. Or anyone starts a business with the confidence that it won’t be literally confiscated or strangled by red tape.
I have some capital... but I'm holding 'em, so to speak, and sticking with investing via the public markets. In my last business, the red tape was increasingly bad over the last dozen years; it's worse now. I'm not eager to subject myself and my capital to that, absent some extraordinary opportunity.
“It’s going to be decades before any company sets up a factory in this country.”
Oh, I disagree. We’ll see factories again. But they won’t be like the ones we’re used to. It’ll be more on the Sicilian model where they operate out of sight, off the books, and don’t officially exist.