Friday, October 01, 2010
here and here) talked of 'going John Galt'... and I think much of America has in fact decided to do so.
Companies are sitting on a ton of cash, refusing to spend it either hiring or buying equipment. Sector after sector is showing minimal gains, if indeed any. Drivers aren't spending money to buy new cars.
Just as George Will wrote of how people scattered around the country and the world each make a series of independent decisions that result in the manufacture of a pencil, so too are millions of people around the country, acting both in their business capacity and as individuals, independently making decisions that they think are in their best interest... and right now, with Obama in office and pursuing his agenda, they're deciding the best course of action is to do nothing.