Posted on 07/16/2009 5:36:34 AM PDT by reaganaut1
You don’t produce wool by skinning the sheep. But that seems to be the present strategy to get small businesses to begin hiring, buying, and expanding.
There is apparent surprise among Obamians that unemployment has soared the last six months. The much-anticipated stimulus sputtered, and there is a sense of bewilderment in the administration about why joblessness and economic growth are stagnant after the government injected trillions of dollars into the system.
Perhaps the Obama administration needs to remember the psychology of business. After the shock of the September meltdowns, the natural reaction of anyone whose livelihood relied directly on markets was to conserve, pull in one’s horns, and ride out the mess. To restart the paralyzed economy called not just for printing money, but also for words of encouragement to businesses that their assets would be safe, interest rates would be stable, and their work would lead to greater profits.
Instead, exactly the opposite message was sent in a time of crisis. Take first the “spread the wealth” rhetoric. The impression created in the last half-year is that business is culpable for the new mess, while unions and the general public are victims who need relief from the greedy.
Everyone is angry at the Masters of the Universe on Wall Street, but under Obama ironies abound: Banks and investment houses, whose recklessness largely caused this problem, have been lumped in with the small-business person as the kindred “wealthy” who make over $200,000 a year. The family dentist, neighborhood contractor, and owner of the local insurance firm feel neither wealthy nor culpable in the fashion of AIG or Lehman Brothers. If one wishes to stimulate the economy, it makes no sense to conflate productive small businesses with financial-sector zillionaires as enemies of the people.
(Excerpt) Read more at article.nationalreview.com ...
I hear that Fred Robinson might be his running mate.
“I hear that Fred Robinson might be his running mate.”
If Fred is half the man that Jim Thompson is, that will be a great thing.
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