Heavy Hitters!

Will small business "Going Galt" be Obama's downfall?

Let's hope so. Glad I have NO plans to open a business. CDs MAY be the only safe investment, but I do NOT know???

Commenter Sean says:

Businesses aren’t hiring because no one knows what in the hell our economic system is going to look like 5 years, or even 5 months, from now.

No prudent investor is going to bet their money (i.e., invest in growth) when it is conceivable that the government is going to radically alter how 50% of this nation’s economy functions.

Another commenter responds:

Sean is spot-on, but misses the potential for union mischief with the passage of EFCA. How many entrepreneurs are going to pour their money and effort into starting or expanding companies when a handful of union thugs can show up, bully their way into organizing your firm and then you have to spend two years with an Obama Labor Dept. telling you how much you have to pay your employees?

Many business owners I have talked with say they are scaling back and not hiring because of the uncertainty of this political climate. Even if the economy recovers, many small business owners will stay on the sidelines because it may be too expensive for them to do otherwise. It's a capital strike as described in Amity Shlaes' excellent book, The Forgotten Man.

http://drhelen.blogspot.com/2009/10/wil ... lt-be.html



go John Galt

Small business - and many large businesses - will not survive Obamanomics. Between the coming health insurance requirements and the already crushing burden of regulation, it's just not worth it. Obama hates capitalism and he hates anyone who succeeds under that system of freedom.

Evidently neither does the Congress. And hasn't in a very long time.