.comment-link {margin-left:.6em;}

Friday, April 25, 2014


GE: We Bring Bad Karma to Life

It turns out that GE, in bed with Obama from before the beginning of his disastrous administration, is suffering from the policies of the administration it cheered on.

General Electric is telling its investors that Obamacare is to blame for recent losses in the company’s health care division, The Daily Caller has learned.

It's noted that it's the stupid inconsistency of Team Obama that is leading to the current economic malaise, much as it did during FDR's "Great Depression."

The second under-discussed issue is what scholar Robert Higgs has called “regime uncertainty.” Roosevelt’s victory in 1936 had been so convincing that people believed he might do anything. FDR reinforced this suspicion with an inaugural address so aggressive that modern presidential advisers would never allow it on the teleprompter. Roosevelt told the nation he sought in government “an instrument of unimagined power.” That scared markets and small businesses.

Roosevelt relished hunting down big firms through regulatory action and blaming new sectors, such as utilities, for slowdowns — on some days. Other days, he invited business leaders into the Oval Office and talked about partnership and a “breathing spell.”

This inconsistency itself posed a problem. The diary of an Ohio lawyer named Daniel Roth, which was recently republished, captures the pervasive anxiety of the period. “We are having a bad steel strike in Youngstown and the mills have closed,” Roth wrote on June 22, 1937. “The state and federal governments seem to support the labor unions and there has been a complete breakdown of law and order. Business is very quiet.”

From the U.K., John Maynard Keynes wrote to FDR that it was all right
to nationalize utilities or to leave them alone — but what, Keynes asked, was “the object of chasing the utilities around the lot every other week?””

Labels: , , , ,

Comments: Post a Comment

Links to this post:

Create a Link

<< Home

This page is powered by Blogger. Isn't yours?