Tamny’s piece in Forbes, Feb 12, 2013. Key points…
- As a nation, we assume too much in a president’s ability to “do something” about the economy. In fact, the mantra should be, ‘don’t just do something, stand there.!’
- After a first four-year term of office, the legacy is 1) resumption of bailouts of GWB, squared 2) passage of health-care bill that raises the cost of hiring, depressing employment 3) dollar cheapening through Fed activity
- Yes, Mr. President, we can cut our way to prosperity!
- Manufacturing jobs are yesterday’s work–to bring them back to the US makes us poorer.
- Signs that housing is improving are bad signs. Housing is consumption, not investment, and our recent bubble started with overconsumption on housing. Housing drives good money into dirt to avoid Fed devaluation, abetted by bad tax policy. We need investment to grow, prosper and add jobs, not policies that drive money into consumption acvitivies.
As usual, Tamny doesn’t hold back and adds provocative thoughts to the national dialogue.