The Precarious State of the Union | WHAT REALLY HAPPENED


The Precarious State of the Union

In the words of the Spanish philosopher George Santayana, “Those who cannot learn from history are doomed to repeat it.” Since our President cannot even learn from the mistakes of his immediate predecessor, to say nothing of those he made himself while in the Senate or during his first year as president, we are surely doomed to repeat them, perhaps more quickly than Santayana could have imagined.

Rather than tightening the reins on the reckless monetary policy that undermined our savings, diminished our industrial output, inflated asset bubbles, and led to reckless speculation on Wall Street and excess consumption on Main Street, we are loosing them further. Rather than repealing regulations that distort markets and create moral hazards, we are adding new ones that do more of the same.

Webmaster's Commentary: 

One of the most terrifying intellectual deficits from which this President suffers is an absolute ignorance of how businesses get started, and what they need to grow and succeed.

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