Stop punishing investment! - San Diego, California Talk Radio Station - 760 KFMB AM - 760kfmb

Stop punishing investment!

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We keep hearing over and over again that the economy is in the tank because we aren't spending enough money.

I must quote from two brilliant economists. First, Robert Higgs:

"The economy remains moribund not because consumption spending has failed to recover and not because government spending has failed to increase, but because the true driver of economic growth—private investment—remains deeply depressed."

We have a Mary Perry original graph using data from the St Louis Federal Reserve and the Commerce Department's Bureau of Economic Analysis:

 

The Left needs us to believe that we're not spending enough money because, in the words of Don Boudreaux, "It gives them intellectual cover to do what they naturally want to do -- namely, spend other people's money."

More from Higgs:

"Here is the true reason for the recession's persistence.  Private investors, despite the full recovery of real consumer spending, remain apprehensive about the future of new investments, especially new long-term investments. I have argued repeatedly during the past three years that an important reason for this apprehension and the consequent reluctance to make new capital commitments is regime uncertainty—in this case, a widespread, serious fear that the government's major policies in areas such as taxation, Obamacare, financial reform, environmental regulation, and other areas will have the effect of depriving investors of control over their capital or diminishing their ability to appropriate the income that the capital generates."

So if consumer spending is high. How can anyone suggest that what the economy needs is even MORE spending? What we need is more investing, i.e. less government!

We talked about this in the second segment of 6:00 this morning:

http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_5324.mp3

 

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