We do have an idea, Sears, and it is this: Stop thinking that someone in
the government can fix the economy.
Imagine how upset you'd be if someone
from the government showed up at your front door and told you that
he was going to take complete control of your (and ONLY your) household
budget because he knew better how to spend your money. You would
think that man crazy.
However, year after year the notion persists
that "the government" can somehow fix any aspect of the economy.
Where is the evidence of this? Did the government create the dot-com
boom? Did it create the dot-com
bust? Should it have spent a billion dollars saving Pets.com because
it was too important to fail?
If you look back at past failed companies,
it's hard to make a case now that the government should have
spent billions of dollars saving them then. Indeed, can you
even name one company that went bankrupt in 1988 that is still
negatively affecting the economy today? However, at the time, those
bankruptcies were certainly perceived as being negative. It is only
with the passage of time that we realize that those companies failed
because they were out of touch with the marketplace.
If Obama really wants to change something,
he could try having truly
free markets. Our suspicion, however, is that he'll be just like
every other politician in Washington, believing that his government
plan is the one that will transport us to an economic Utopia.
Our prediction: don't hold your breath waiting
for the Promised Land. Obama's no different than anybody else.
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