Nov 10 2011

A little history lesson from Dick Morris

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Here it is in a nutshell:
  • You can’t have socialism in just one country because the capital will move to countries with capitalism. This is what happened to France in the 1980’s when so many industries were nationalized. Capital fled to Britain and the US.
  • The European Union standardized work rules, maximizing amount of vacation, minimizing the number of hours worked, firing standards and so on. As a result, 80% of new jobs created in the western world between the Reagan and Obama administrations went to the US.
  • A study was done which tracked the poorest 20% in 1990 and again in 2000. 17% of the poorest 20% were still poor, but 18% were in the top 20%. The rest fell somewhere in between. Upward mobility is alive and well in the US! Not so in Europe where it is based upon government policies rather than individual initiative.
  • Obama wants to adopt the European system, the consequences of which mean no economic growth.
  • We need to reverse the expansion of entitlements (50M Americans are on foodstamps!) and vote Obama out of office in 2012!