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bradysmanboobs
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bradysmanboobs said...
IMO, it already has (obama and the dems have destroyed the work ethic by expanding entitlements), but Niall Ferguson doesn't think we are quite there yet, but are on our way. Below are some excerpts from his interview in this week's Barron's stating why he believe's this.
The rule of law has become more expensive in the U.S. without becoming more efficient. Any business, particularly small to medium-size, that has had encounters with litigation in the past 10 years will know what I'm talking about. The rule of law in the U.S. has become, at some level, dysfunctional. One reason for that is the way Congress works. It is a honey pot for lobbyists. The result is that complex legislation is riddled with ambiguities that—guess what?—only lawyers can resolve. Dodd-Frank is designed to improve regulation, but what it actually does is institute a massive job-creation scheme for lawyers. There isn't a financial institution in this country that doesn't now require its compliance department to retain a whole bunch of lawyers to explain to them what this 2,000-plus-page monster means for their business. That concerns me.
What made the West unusual was that risk takers were not only rewarded but honored, whether in science, exploration, or in trade. Spreading across the Atlantic from Europe is an anti-risk culture that manifests itself in two ways. One is the welfare state, designed to remove risk from your life by guaranteeing you an income from the cradle to the grave. That's great because it means that nobody is starving in the streets for want of work. But it isn't great if you create poverty traps and disincentives, so that people in the bottom quintile never work, which is the case in much of Europe.
The other way in which the anti-risk culture manifests itself is with the manic regulatory mentality that tries to prescribe rules for every eventuality, including the tiny, tiny risk that an asteroid will hit this building. Regulations that protect from every eventuality end up being paralyzing because the more things are proscribed, the more the ordinary entrepreneur has to be afraid that if he doesn't comply, he will get sued.
If you locate a new plant in the U.S., you encounter this increasingly unfriendly regulatory and tax environment
It's always a good idea to be optimistic about the U.S. Ultimately, political leadership will materialize, because the popular instinct on many of these questions is sound and there are political leaders—[Wisconsin Republican Rep.] Paul Ryan, for example—who have integrity and are prepared to push unpopular measures that will ultimately prove beneficial. It isn't just the tax code. It's an incredibly complex accumulation of regulation and legislation, the net effect of which is to make it harder to be an innovator and entrepreneur. Not only is the U.S. doing less well in these terms than Hong Kong or Germany, but it is doing less well than the U.S. used to do.
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minsterbuckeye ●
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minsterbuckeye said...
because Paul Ryan actually has the balls to actually put a budget out there, tell me when is the Democraps finally going to put something out thwere with some meat in it,,,,,whats it been OVER 1000 days......U should be embarrased by that, but then knowing your background now.....I understand why u don't.......by the way teach.....how many votes has your HOPE AND CHANGE guy recieved on his?????
This post was edited by McCague on 4/30/2012 at 10:22 AM
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McCague said...
Menstrual,
The only person who expected any votes from the right was Obama himself. He had to learn the hard way that he could hope all he wanted, but Republicans had an entirely different agenda from the start.
"Bin Laden is dead and the auto industry is alive."
"The sky is whatever color Hannity says it is."
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hammerhead said...
So your happy and proud that we are 16 trillion in debt , 47 million on food stamps , and gm and Chrysler were bailed out but the Gaurenteed Creditors got screwed. News flash gm and Chrysler will be broke again because their burden rate and long term debt obligations are too high. The federal govt should not be picking the winners and losers. That what the free market and capitalism is all about.
Use your brain and not just rehash dem talking points.
This post was edited by McCague on 4/30/2012 at 12:35 PM
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McCague said...
We wouldn't be 16 trillion in debt had we created a massive jobs plan for roads, bridges, schools, broadband, energy, etc. There was absolutely no support for anything like that from the Republicans - it would have helped Obama. I was in high school during the 50's when we were building the Interstate System, Electric Energy facilities, etc. Eisenhour was instrumental in all of that. There are no Eisenhours, Reagans, and GHW Bushes in the Republican party anymore. Sad to say, but Nixon was even a better Republican than I see anywhere today. At least he governed well, regardless of his other traits. All we see today are Republicans who are living from one election to another. Can't allow anything to be legislated by Democrats, even if it means voting against something they would otherwise like.
"The sky is whatever color Hannity says it is."
"Bin Laden is dead and the auto industry is alive."
Yeah, I said it.
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McCague said...
One party is much more blind than the other. I accidently up-voted you, but you are right. It's just that you ignore the fact that nothing gets done with one party holding its ears and chanting NO NO NO NO NO NO, so there is no reason to introduce legislation if it is only going to fail. Besides, Boehner wouldn't allow a vote in the first place.
"Bin Laden is dead and the auto industry is alive."
"The sky is whatever color Hannity says it is."
Yeah, I said it.
Is America becoming an anti-risk welfare state?