Headline: Pres. Obama hires, hangs with and pays off folks with “little or no credibility among grassroots businesspeople”
Interesting read with some notable snippets from Forbe’s: How The President Helped Kill Progressivism, Capitalism And Moderation
Obama’s progressivism is shaped by his fellow academics, who have enjoyed unprecedented influence in this administration, as well as closely aligned classes such as affluent greens, urban land interests, venture capitalists and the mainstream media.
Obama’s stimulus … largely missed the recession’s biggest victims: minorities, the working class and the young. The president instead chose to service the needs of organized constituencies such as public sector unions, large research universities and “green capitalists.”
Obama … has surrounded himself not with entrepreneurs but consummate crony capitalists — chief of staff Bill Daley (scion of the Chicago machine family), General Electric‘s Jeffrey Immelt and proposed Commerce Chief John Bryson, who has spent much time as a master manipulator for a large regulated utility.
These figures have little or no credibility among grassroots businesspeople. They are seen as being more adept at working the system than succeeding in the free market.
Ken’s Take: There won’t be a significant economic turnaround until business is on board. Period.
The Homa Files 