Friday, September 17, 2010

This Is A Great Rant

This is a great rant/video from Bernie Marcus founder of Home Depot and head of the Marcus Foundation.

Mr. Marcus is against government regulation and intervention in business. In essence, the government has gone too far, and rather than aiding the economy, government is actually stifling growth and job creation. I agree with Mr. Marcus wholeheartedly - the pendulum has swung too far in the direction of more government and more regulation. What I find particularly ominous about this administration (which sets the tone of government) is their belief that their policies are the right policies even when they fail. A flawed $787 billion stimulus package that's ok....let's just do it again. With this administration, the policy is not the failure. It is the implementation of the said policy that was the failure. In their view, a stimulus package focused on increasing consumer demand wasn't the wrong thing, we just didn't have enough stimulus.

Why does the administration have this dogmatic view of the world? Because it is their belief that they (government?) are benevolent and of course, they know what is best for all of us.

One other thing about the video and this is the comment (at 3:48 on the video) by host Joe Kernan that all we need to fix the economy is to have more business people in government. This is a constant refrain heard on CNBC over the past weeks. All we need is a Wall Street CEO in government and our problems will be fixed. Let's put this argument to rest with two words: Hank Paulson. While the former Treasury Secretary and Goldman CEO is widely held (simplistic view) as the person who "rescued" the economy in its darkest days of 2008, he was also at the helm and oblivious leading up to the crisis.

The last thing this country needs is more government whether it be TSA officers or Wall Street CEO's. Mr. Marcus is right, and hopefully, some day soon the pendulum will start to swing in the other direction.

1 comment:

bobble said...
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