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I’m not going to the join the legions of talking heads on the cable news networks all in a panic about the stock market. Corrections are part of the business, and considering that whenever the market goes down provides ample opportunities for those looking to get in (and vice-versa) I have little doubt we’ll have our drop and then start working our way back up again.
That being said, should it come as any surprise that the market is tanking? I mean, how much bad news can one investor take? This economy is heading back into recession (if it ever climbed out of it to begin with), and it’s all because no one in their right mind would be trying to hire in the over-regulated and hostile environment the private sector finds itself trying to do business in these days. This country is awash with elitist bureaucrats attempting to control every facet of American society, and they’ll succeed if the sheep in this country let them.
NRO’s Victor Davis Hanson serves as the doctor-in-residence offering a cure to what ails this economy:
If the government were an individual household, the only way out would be to cut spending and find new sources of wealth. Given worldwide demand for food and fuel, and given recent quite astounding new finds of natural gas and oil in the Dakotas, the eastern seaboard, offshore, the American west, Alaska, and Canada, it seems that we should be hell-bent on recovering these high-value fuels through new drilling, refineries, and pipelines, including ways to power our heavy trucks and equipment on natural gas. We should be planting acre to acre and end nonsensical biofuel subsidies and artificial limitations on irrigation deliveries to California’s West Side and elsewhere in the West. We need a national manufacturing policy that prunes regulations and encourages investment here in the U.S., ceases talk of new taxes, repeals the trillion-dollar take-over of the health-care industry, and stops hectoring Boeing about opening a new facility or trying to shut down energy generation plants. Unemployment, food stamps, gargantuan debt, absorption of private companies, solar and wind subsidies, new environmental, labor, and financial regulations atop an existing labyrinth of red tape — all that has not led to new job creation or economic growth.
Only a private sector confident that of long-term government predictability and encouraged by a national culture that applauds manufacturing, energy and food production, and private health initiatives and reform can see us of this mess.
Sounds like a plan to me.
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