Was there a war? is it over? Who won?
Evan Newmark blogs at the WSJ:
The war is over. Almost.
This week President Obama is launching a series of policy proposals that acknowledge his two-year war on American business is lost.
The White House won’t call it a “surrender.”
He proceeds to tick off a series of supposed white flags. And then offers this prediction:
By next year, the week of Obama’s “surrender” will be seen as a turning point for the fortunes of the U.S. economy and stock market.... In the very near term, the stock market may not summon much enthusiasm for Obama’s probusiness shift. After all, no matter how much he talks up the glories of capitalism, many investors (including myself) will never really trust him. His heart just isn’t in it.
But here is the thing. It doesn’t have to be. Obama’s beliefs don’t matter nearly as much as his actions do.
And now facing a failed economic policy and a November electoral rout, Obama has no choice but to act in the interests of American business, the nation’s true job-creators.
I could see Bill Clinton doing that. Not so sure about Obama. It's not only his belief set--once a community organizer, always a community organizer--but the lack of private sector experience throughout his administration. Remember, this administration's top echelon has less private sector experience than any in memory. They may not know how "to act in the interests of American business."
