Wednesday, April 29, 2015

More of the Same from Big Government

This morning the Commerce Department reported that the US economy grew at 0.2 percent in the first quarter of 2015.  Given the way this data is collected, it is a reasonable possibility that the US economy actually contracted.

Wall Street focuses on the reaction of the Fed, as if that matters. What matters is that government policy is strangling the economy with excessive regulation and taxation. Until bad government policy is ended and reversed, don't expect the mighty American economic engine of the past to re-emerge.

Meanwhile, the SEC is putting forward more "kill the Golden Goose" rules that will strangle the public stock market as well. Too bad for the little guy.  Stocks have, historically, been great for the little guy.  But, policy makers can't be happy about that and, egged on by Elizabeth Warren and Barrack Obama, are determined to snuff out the prospects of the average American.

The inequality debate is nothing more than the first salvo in a drive to turn the average American into a modern day serf, as the liberal elite fly around in their private jets and move from one gathering of the faithful to the next in their chauffered limousines. It's no wonder they have no knowledge or interest in the average American -- when do they ever encounter an average American (unless it's through encounters with their pilots, chauffeurs, cooks, or gardeners)?

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