Americans witnessed a brief, but illuminating, incident last week epitomizing President Obama’s contempt for free markets, small businesses and entrepreneurs. During a Q&A session in Iowa, a farmer expressed concern that Obama's tidal wave of new, bewildering regulations and economy-killing mandates disguised as needed oversight, would someday soon require him to spend more time with paperwork compliance than with farming.
Unfortunately, President Obama dismissed the farmer's question, instead rambling on with his usual, shop-worn platitudes. Obama missed the point of the farmer's question and, thus, missed the opportunity to hear and address the unvarnished, unscripted concerns of an average American confronting Team Obama's destructive and intrusive policies.
What a pity. When confronted with real concerns about the economy and issues that are holding back U.S. economic performance, Obama didn't even realize that he was getting a rare dose of good economic advice.
Obama has no first-hand experience with business or with job creation. To compensate, Obama has surrounded himself with a group of suck-ups, crony capitalists that offer advice even they know is flawed, folks more interested in protecting their interests or expanding a narrow economic gain.
Unfortunately, many companies have learned that it is far easier to have Washington liberals and Team Obama enact policies that will tilt the playing field in their direction, freeze out their competitors, and guarantee returns, rather than be forced to compete in the free and open market with better ideas, better services and better products.
These companies, and there are many, have figured out that government regulations can be jiggered behind the scenes to give them advantages that other companies, especially smaller companies, cannot possibly enjoy.
Obama's crony capitalists have also learned the art of hijacking the Justice Department to wage war on a competitor, to tangle them in regulatory knots and bogus lawsuits, to rob competitors of a business' two most valuable resources-time and money.
Crony capitalists are nothing new, but during the Obama Administration they are entering their golden age of prosperity. Sadly, time spent on jiggering the system to their advantage in the short term is time taken away from jiggering their products to be more competitive in the long term.