Entrepreneur Dan Kennedy writes of the fear Obama’s economic policies are sowing in the business community. He offers the following quote from a board member of a community bank, a man Kennedy describes as someone not prone to wild fears and exaggerations:
The new and proposed regulations will remove every competitive advantage of the community bank, and make every bank identical, forced to operate exactly as does Bank of America,” he explained. “Then, absent competitive opportunity, all of the independent banks will be greatly de-valued and handicapped. They’ll be vulnerable and easily rolled up into the handful of remaining giants … the small bank’s wealth made into fresh food for the insatiable hunger of the big banks’ deficits and losses. This is, I and others believe, the next step in Obama’s plan to take total control of the financial system and money supply, a requirement of dictatorship.
Kennedy also reports owners of small businesses as wanting to sell and even leave the country, while the getting out is good. He says many believe that Obama is “deliberately, systematically destroying the economy as a whole and is specifically targeting small business for extinction—because it’s too difficult to exercise dictatorial control over millions of small enterprises.”
You can say they’re overreacting, and perhaps you’re correct. But I think their fears are an understandable response to the signals Obama has been giving out.
One of the reasons it’s been difficult for many people to see what Obama may be doing is distraction; there’s been such a flurry of activity on so many fronts at once. So it’s not that easy to see the bigger picture.
Obama also utters soothing words every time he does something against the interests of the business world: he’s not really trying to stifle small business. And he’s not really trying to take over (fill in the blank) the banks, the auto companies, whatever. He’s just reacting to the crisis, reluctantly doing what must be done. That’s what he says.
But successful business people are adept at reading which way the wind blows. If they hadn’t been, they wouldn’t be successful. And they sense that Obama is against them; every single policy he has championed seems to have that effect, despite his stated reluctance to harm them.
The small business owners have reason to be especially concerned: when in doubt, Obama will tax them. Need some money for health care? Tax the “rich”–those making more than that magical $250,000 number we’ve heard so much about, which for a small business just isn’t all that much.
Kennedy also describes a person he knows who is director of marketing for a private aviation company, a woman who has worked for over fifteen years in the industry. She says that because of the excoriation of the CEOs who used private jets, her business has suffered. She, like the others in the article, asked not to be named, but she said that her job now feels as though she’s “doing business in a climate of fear, almost clandestinely, as if engaged in espionage rather than commerce.”
Kennedy concludes with the following chilling words:
This is an untold story. The mainstream media would mostly refuse to report on it. But even if they wanted to, these business leaders and countless others like them would refuse to publicly talk about their views. Because they are afraid.
From free enterprise to fearful enterprise. From ambition, initiative and investment, to hoarding and inaction and exit. This the only thing Obama has actually stimulated: a climate of fear.