“People call this the ‘new normal.’ Let me assure you there is nothing normal about this at all. It’s the new ‘abnormal,’ and it won’t last, because as free people we won’t stand for it…”
With those remarks, business magnate and former presidential candidate Steve Forbes drew thunderous applause from his audience last Wednesday. Headlining the “Power Up!” business and motivational seminar with Sarah Palin, Rudy Giuliani, and Indian-born Zig Ziglar protégé Krish Dhanam, Mr. Forbes was speaking before a crowd of ten thousand at the Idaho Center indoor sporting complex.
Forbes had just finished explaining why a confluence of cheap credit, billions of dollars in stimulus spending, lots of new taxes and government regulations, and the ensuing government debt have all failed to stimulate our economy. He was confirming with his technical explanation, what many of us know instinctively in our hearts: the reality that no organization- no individual or family, no business, no government – can spend its way out of debt and re-distribute its way to prosperity.
We should all hope that Forbes is right – that “as free people, we won’t stand for it.” Because if we continue to vote for politicians who viciously take expanding portions of wealth from our society’s producers and selfishly redistribute that wealth to those of their choosing, eventually the politicians will run out of other’s people’s money to redistribute and we will all suffer the consequences. The social disorder and collapse of Greece and Spain could be our future in the U.S., if, “as free people,” we don’t choose more wisely.
For those who have eyes to see and ears to hear, examples abound in this present day of how not to construct a national economy. Greece and Spain qualify, yes, and so does Venezuela. Yet even within the last week the news from France, another bureaucratic, debt-laden, and not-so-free-anymore part of the free world, should be a wake-up call to all Americans.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.