MAULDIN: And Now Obamacare Is Going To Destroy More Full-Time Jobs...
A Lost Generation
- Marx is back! Class struggle will be the main political theme in the years to come. This is what happens when you entrust a common good such as money to an over educated technocrat who believes he is smarter than the markets.
- In a democracy it is bad politics to follow a monetary policy which favors the rich and condemns the majority to an ever more difficult life (witness damages caused by the euro). This is the "Road to Serfdom" towards socialism or technocracy rather than a sustainable capitalist economy.
- This system will become increasingly unstable: socially, financially, economically. Such unfairness breeds the conditions for political instability. Under similar circumstances, Theodore Roosevelt and the US Congress went after the "Robber Barons." Franklin Roosevelt acted 20 years later during the depression to separate commercial banks from investment banks. The obvious parallel in the crisis of our times is that President Obama is no Roosevelt.
- I have no idea how this problem is going to be addressed, but addressed it will be. My hope is that a normal monetary policy will resume in the near future lest we end up dealing with a vengeful demagogue some way down the line.
Read more: http://www.businessinsider.com/mauldin-obamacare-will-hurt-jobs-2013-7#ixzz2aRtvg2C5