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I am sure you hear it from everyone lately, just as I have. Everyone is completely uncertain about what the administration and Congress will do next to add taxes, help unionize the planet, declare everything including breathing as a threat to the environment, declare everyone who works hard and earns a lot of money to be a crook or a pig, and has screwed up the war effort by declaring our exit before we even got the surge underway. Some of us voted for McCain despite Sarah because we feared the alternative was even worse-and it is. McChrystal did not do a dumb thing. According to a source extremely well connected in the Pentagon, it was intentional because he viewed it as his only way to get out from an extremely frustrating situation and away from Holbrook and the administration’s losing policies. Between the healthcare disaster crammed down our throats, the tax increases coming from every direction, and new regulations about everything, the cramming of the bondholders in Chrysler, protecting the UAW and not creditors in GM, why is anyone surprised that corporations have the largest hoard of cash in history. They view the risks of the unknown with this administration and Congress led by grinning Nancy, as being too great to take a chance of investing, merging, or hiring. Why would you hire anyone unless you had to, when you will face government sponsored unionization, tougher labor laws, higher taxes, and higher benefits costs.

The EU seems to have understood at the G20 that the European model is dead, except in America. They warn that spending and regulation and pensions must be cut. They are standing up to their unions. The IMF says cut. The US voters say stop the spending. So what do Obama and Nancy do, step up spending, and regulating and favoring unions. They do not seem to understand that every such action has a major impact on investment decision making. The combination of the government thinking it knows better, and that all of us upper income earners should carry the 47% who pay no tax at all, is doing grave harm to the economy. They blame the banks for not lending. I say, why lend when there is no certainty of repayment and there is every chance you will be attacked by Washington for charging risk adjusted rates.

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