by Jeffrey Folks –
As every economist outside the White House and the New York Times now recognizes, a healthy recovery is not just around the corner. Economists have been racing to lower their second quarter and full-year GDP estimates to below 2%. There is growing apprehension that the economy is slipping back into recession. And all of this is happening because of the President’s intense hostility toward capitalism.
With the exception of Obama’s evil twin (aka Jimmy Carter), we have never had a president this antagonistic toward the free market. Obama arrogantly refuses to accept even most fundamental law of free-market economics: the fact that businesses must be allowed to make a profit if they wish to expand and hire new workers. [Read more...]