The idea that you can regulate your way to prosperity is absurd. Nevertheless, that is the current American economic policy. Economists spend their time discussing non-issues, such as when will the Fed make a move. Nothing could be less important than what the Fed will do next. It really doesn't make any difference for good or evil, at this point.
The regulatory overkill has done it's damage and the perceived, possibly real, threat of massively higher taxes is enough to kill off the entrepreurial spirit necessary for growth. Better to start a foundation and join the coming Clinton regime. That seems to work well and apparently the majority of Americans don't seem to care. So, why not.
This is not your grandfather's economy. It's not your father's either. The enemies of economic growth have captured the high ground and have no plans to retreat.
It takes time to destroy an economy. Ask the Chavez crowd in Venezuela. They managed it in less than a generation. The US path is slower, but the direction is clear.
The stock and bond markets have figured this out as well. This is probably a time when uncertainty is probably better than certainty. But, unfortunately, certainty is setting in. We may be facing a generation of no real prosperity in financial markets. Incredible debt levels by various levels of government stand as a huge roadblock on the path to prosperity and an overbearing government has stamped out much of the economic dynamism of what once was the most dynamic economic engine in the world.
The chances of rolling back the American bureaucracy, bent on stifling US economic growth, is diminishing. Low income Americans will be the biggest loser in what is coming. The powerless always lose when economic growth disappears and the bureaucrats are riding high....and they are riding high.
It's been slow coming, but the air is coming out of the balloon.