My candidate isn’t in the race!
Newt makes a great debater and historian but he is making Obama’s class warfare case a platform for conservatives. Newt’s ego is getting in the way of staying on point and making small business folks like me turn against him.
How do you feel about “free trade” please?
Criticizing Bain doesn’t have to be class warfare.
Bill Gross at PIMCO has made a distinction between the finance economy and the productive economy, as has Eric Janszen at iTulip.
Bain is part of the finance economy and as such relies on rising asset prices to earn wealth. Firms in the productive economy rely on increased production of goods or service to make money.
The finance economy, or FIRE sector, used to assist the productive economy. But in recent decades it came to dominate the American economy, sometimes at the expense of the productive economy which it would dismantle and ship overseas. Growth in the productive economy historically meant a higher standard of living for the American middle class. Growth in financial economy doesn’t necessarily do the same.