Saturday, June 27, 2009

C. Edmund Wright - Recovery When? How About If?

Back in December I posted on and linked to an article in the American Thinker by C. Edmund Wright, a small business owner who had been reading the handwriting on the wall post election and not liking what he saw, decided to wind his business down. He has just written another article for the American Thinker entitled, "Recovery When? How About If?". He lays out a very good synopsis of the series of events that have led the economy to where it is today. It starts with energy prices. Go and read the whole thing of course but here is the lede:

"Shhh. Don't let this get around, but Warren Buffet just let the cat out of the bag -- no economic recovery in sight.

Well no kidding. I have long tired of the economists and investment gurus debating "when our economy recovers" and how to position your investments for "when America bounces back" and so on, as if it's a foregone conclusion. Haven't they heard? The America that always recovers is not in anymore. Any assumption of a recovery fails to consider the idea that we now have a government run by people who ignore American history and who are hell bent on changing America's future.

Obama has done more than apologize for America's greatness and generosity while abroad. He is wreaking havoc on the economy that paid for that greatness and generosity at home. Don't you remember? He is "the one" we've been waiting for to finally do something right around here.

Thus the conviction that Americans always bounce back and bring their economy with them is not necessarily relevant anymore. The rules for business have changed and continue to do so daily. Incentive has been devastated. The reliable motivations of the past do not matter, because most of those dynamics have been targeted as what is wrong with this country and they are systematically being removed at a stunning pace.

In reaction, Atlas is shrugging. And who can blame him (and her)."
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