Going Biblical

“I have been a stranger in a strange land.” I don’t think I fit in, in America, anymore. I am nearly positive that I am the only guy who hasn’t reaped mega-bucks through some form of scam, stock fraud or Ponzi scheme. OK maybe I’m exaggerating. But I am convinced that I’m the only guy who doesn’t qualify for a mortgage bailout because I didn’t buy a house I couldn’t afford or borrow so much money against the equity in my home that now I owe more than the house is worth.

Quiz time! What does it mean that a company is too big to fail? For decades America have been strong-arming the WTO and World Bank into forcing the American economic model upon hapless countries that were quite happy and prosperous with their own systems. And the fundamental tenet was a free market system. Well, in that system, competition reigns. The weak and inefficient give way to the strong and innovative. So let AIG, GM, Chrysler, monster banks and others fail. It’s what they deserve for obscene CEO payouts and only looking ahead 3 months to the next quarterly report. Let them fail! It’s the American way. Subsidizing these companies with government tax revenues and nationalizing banks. Why that’s un-American. It’s downright European!!!

Big companies are not that important to the economic health of America. The backbone of America has always been and will always be small companies, small farmers, small business owners. 99% of America’s +27 million companies have fewer than 500 employees. For the past decade small businesses have generated 60-80% of net new jobs and produce 13 times more patents per employee than large companies.

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