Barry on BusinessJul 12 • Categorized as Asset Protection
by Adam Wolf, Director of US Operations, Global Wealth Protection
I can’t stop thinking about what Barack Obama recently said about business owners not being responsible for their success.
As I’m sure you’ve seen or heard by now, Obama delivered a campaign speech in Roanoke, Virginia in which he said:
“If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business — you didn’t build that. Somebody else made that happen,”
When I first heard this diarrhea spewing out of his mouthhole, I was dumbfounded and I nearly had a wreck, as I could not believe the drivel that was coming through my truck radio.
The next day it hit me, again while in the truck (I do a lot of thinking in my truck); we all have access to the same tools in the American toolbox, and they are the three fundamental ingredients for success: labor, creativity, and risk.
If you work your ass off, creatively, and take significant risk to your personal and professional well-being, then maybe, just maybe, you will be successful.
In other words, success might come when those three ingredients are combined in just the right amount, and there are no guarantees that success will come at all.
Have you ever heard of Thomas Edison’s metal book that he invented in 1911? I rest my case.
There’s no guarantee of success, and that’s the American way!
Americans believe in equal opportunity, not equal outcomes. There will always be the haves and have nots. There will always be success stories, and there will always be miserable failures. There will always be rich people and there will always be poor people.
When the “War on Poverty” began in 1968 under the misguided leadership of President Lyndon B. Johnson, the poverty rate was 12.8%. Nearly 45 years and $17,000,000,000,000 later (that’s seventeen trillion dollars!), the poverty rate is still about 12.3%.
The point is that government does not create prosperity, wealth, or anything of value. Zip. Nada. Zilch.
Government does not lift people out of poverty. Government does not create successful businesses or successful entrepreneurs. When Obama says that someone else (read: government) is responsible for your success, what he is trying to do is completely redefine the American way of life.
He thinks all labor is equally valuable: “Let me tell you something – there are a whole bunch of hardworking people out there.”
He thinks all labor is equally creative (smart): “There are a lot of smart people out there.”
He thinks all labor should be without risk: “If you’ve been successful, you didn’t get their on your own.”
Those three ingredients, labor, creativity, and risk, are the three legs of the economic productivity stool; when you remove any one of them, the stool collapses. If you don’t work (labor), you can’t be successful. If the work you do is simply digging a hole and filling it in again (non-creative labor), you won’t be successful. If there is zero risk, there will be zero reward. (Eliminating risks by guaranteeing loans and providing bailouts may generate rewards for a short time through the creation of a bubble, but that bubble will always, eventually, pop.)
A few days after his Roanoke debacle and at another campaign stop, Obama was patting himself on the back about the success of his economic policies and his bailout of a select few domestic auto makers when he said:
“We tried our plan — and it worked.”
“I refused to turn my back on a great industry and American workers,” he said. “Three years later, the American auto industry has come roaring back.”
How does this make any sense to anybody?
Do you think he honestly believes what he’s saying? Seriously. Do you?
Deep down in the marrow of his bones, do you think he really believes this stuff?
By every conceivable metric, the U.S. economy is in worse shape than it was four years ago. Every one. Putting politics aside and knowing that everything that comes out of a politician’s mouth is spin, how is it possible to say that the U.S. economy is doing better now than it was before Obama took office? How has his economic plan worked?
There’s no two ways about it. Every time the Imbecile in Chief opens his mouth, he provides incontrovertible evidence that he is economically illiterate and has no business running a country.
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