Everyone knows that I am a businessman, having been one for nearly fifty years. And like businesspeople all over America the Georgia election results have me doing a lot of soul searching. Now this may sound self-serving and it is, but the effect of all of this on businessmen such as myself has direct and threatening impact on millions and millions of American citizens. Remember that the greatness of America has always resulted from the ability of businesspeople to create jobs that in turn create wealth for the workers and families of America. Government does not create prosperity, but it has a contra-effect on whether it is a benefit that the people derive from the economy.
So, as a businessman, let me share my immediate thoughts.
As a businessman my main concern is will my business survive under a regime that is nothing like we have ever seen before. Oh sure, when Obama was elected the Democrats controlled both Houses of Congress, but the Democrats in those days were not anything like the far-left Democrats of today. To the new majority in Congress, Obama looks like a moderate.
As a businessman what do I expect? Obviously, I expect substantially higher taxes and massive regulations. That is the easy part to predict, even perhaps crushing cost increases under the New Green Deal seem more than a possibility. But it is not the costs to my business that concerns me, it is the ability of the American people, my clients, those that ultimately will have to foot the bill, to pay for what Chuck Schumer called “a changed America.”
It really does not matter how much the Democrats tax me and my business to redistribute wealth to their base, it matters whether my clients can afford in the future to pay them and have enough left over to hire me. So, if as under Obama and other Democratic regimes before him, they cannot afford to pay for all the folly, then my business declines or goes away, and my employees end up on the government welfare system.
Most people do not understand this delicate balance that is the American economy. Obviously, by voting Democratic, a couple of million Georgians felt that government dependency offered by the Democrats was more appealing than freedom and the ability to earn a good family income.
So here is my projection. Democratic leaders are no fools. They will swamp us with taxes and regulations, they will jam down all or parts of the Green New Deal (Key Point – this scheme is made up of two phrases: Green and New Deal; Green is about the immediate end to dependence on fossil fuels, New Deal is about wealth transfer through government programs), and they know that by doing so they would almost instantly destroy the American economy. So, we will see an unfettered printing of money to keep up the faux image of a healthy American economy. Years from now inflation will catch up to us and the dollar will become less and less dependable. Worse, in that future, if as it seems the Democrats return to playing footsy with China, it is likely that we will see the Chinese currency become the world’s standard. That would mark the end of American economic power and an acceleration of a long decline in the quality of life of average Americans.
As a businessman, in the short term, I believe that the Democrats’ phony economy will support all the folly that they will impose. The problem lies in the future, in my children’s time our great nation will reap the whirlwind of what we are about to see unleashed by a Progressive/socialist Congress.
Obviously, none of this is set in stone. The above reflects my best guess as a businessman who must make immediate decisions about my business’ and its employees’ future of the impacts of the election in Georgia. So, I like all businesspeople, will rely upon my personal logic that is grounded in economic history and my own experience. Over four years the pendulum could easily swing the other way if Americans see through all the Democratic folly and throw the rascals out. But history written in the form of Obamacare, tells us that once collectivism has gained a foothold in American it is next to impossible to root it out.
American business will adapt. The problem is that as it responds to the enveloping grasp of Progressive/socialist government its ability to create prosperity slowly ratchets down. The people may not recognize the negative impact that the rise of Progressive/socialist power will have until it is too late. Even though they may never recognize it, the next generation of Americans will pay the price for letting this genie out of the bottle through greatly reduced prosperity, a loss of freedom, and the very real danger of international conflict.
Self-serving, of course. But if I and millions more businesspeople like me don’t find a way out of the catastrophe imposed on us by naïve voters, then those voters will pay the ultimate price. That is too bad, but that’s why economics is called the “Dismal Science”