Tuesday, June 26, 2012

Strangled by Regulation

The American economy isn't going anywhere.  Even a Supreme Court decision against the Obamacare mandate can't fix the absence of commercial and residential lending mandated by Dodd-Frank.  American business is strangling under the heavy boot of government.  Hiring is simply irrational given the political and regulatory environment.

The energy industry will do well and there will be technology shows of strength, but the broader economy is weighted down by regulatory red tape and bureaucratic mistrust of free enterprise.  All of this bodes ill for the prospects of those seeking employment.  All the rhetoric about inequality and taxing the rich simply reinforce all of the reasons why business has no interest in adding jobs.

Unless and until the political environment changes in the direction of free enterprise, the American economy will remain on its present course, sputtering along with no real sense of direction.