◼ All Fall Down - Victor Davis Hanson/PJM
...Those with capital—slurred as one-percenters, fat cats, and corporate jet owners unless hit up for Obama campaign donations—are not hiring or buying. Maybe they think oncoming Obamacare will smash them. Maybe they see on the Obama horizon rampant inflation, debt cancellation, or higher taxes as planned liberal remedies for our endless borrowing. Maybe these shrugging Atlases see that fossil fuel energy is not pursued on federal lands, but needless new regulations are implemented.
Whatever the reason, they hesitate—only sorta buying here, kinda hiring there. And the result of millions of these collective hesitancies is an ossified Europeanized economy, run by technocrats without private sector experience and exempt from the sacrifice they demand of others, as they desperately try to borrow and grow the government to ensure a permanent lease on power...
