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This is the smartest man ever to occupy the Oval Office?
Let’s analyze. What makes us weak, he explained, is when we can’t afford to buy products. This is idiotic. We can always afford to buy products unless we are completely impoverished. The question is which products we can afford to buy. If we could not afford to buy products, the prices would drop until they reach the level at which we can afford to buy them. This is why when markets go down, deflation occurs.
As for risk-taking, the real problem with risk-taking is not the risk of failure – risk-takers try and fail and try again. The real problem is unpredictability of regulatory regime. Sure, we are more risk averse when times are bad. But that’s not solved by handing out money to poor people. That’s solved by allowing banks the freedom to loan – which requires people to save their money in banks. The market solves these problems if left to its own devices. Obama won’t leave the market to its own devices.
Obama believes that prosperity comes from the bottom up. Have you ever been hired by someone poor? No? Join the other people who have worked for a living. People who hire are people who are successful financially. Those who are poor can’t afford to hire workers. They are trying to live day to day. Taxing a rich man $10,000 to give $2,000 to a poor man, the rest being eaten up by government bureaucracy, is a rotten deal.
This is basic Marxism. It assumes that because people in the lower economic rungs work hard and work long hours, they produce inordinate wealth. They do not. Specialized skill sets produce wealth. Providing goods and services to a willing market, and finding innovative ways to do so – that produces wealth. Wealth is always trickle-down; wealthy people are wealthy because they are good at making money. If poor people were good at making money, they wouldn’t be poor – and that’s why many poor people become wealthy. No poor man becomes wealthy by simply picking up a government paycheck.
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