Bulls and Bears Prosper, Hogs Do Not
By Michael Boyajian
There once was an adage on Wall Street that served American business well for many years. It went, bulls and bears prosper, hogs do not. The New York Times seems worried by President Obama’s exertion of presidential muscle when dealing with the corporate world. The Times raised concern that perhaps Obama’s actions will scare away these corporations from doing business here.
This is a lot of hog wash. These corporations have been gouging at the feed trough for years now barking at any hint of regulation and blindly praying at the almighty alter of a market god and all its managed to do is collapse our economy. Yes, hogs do not prosper.
What would happen if these corporations stopped doing business here? Well new corporations will fill the void and pick up where the old corporations left off. These businesses are driven by money and after weighing the risks they will enter the arena with product and service costs that are based on the measure of that risk. And that risk includes regulations and law suits. One mammoth corporation will leave and many smaller ones will take its place.
And remember, if our government did not give Ma Bell a swift kick in the ass long ago we would still be using rotary dial phones that went as far as the wire that plugged into the wall and cell phones would be an idea whose only reality was on reruns of the original Star Trek TV series.
So what is so bad about Obama’s heavy lifting? General Motors is doing gang busters now after his intervention, Toyota is opening a new plant in Mississippi and the markets are trending upward. Perhaps instead of teaching constitutional law before becoming president Obama should have taught business administration 101. At least he knows the fundamentals of business that corporations have forgotten. That being bulls and bears prosper, hogs do not.
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