Richard Salsman on the State of the Political-Economy

Comments economist Richard Salsman in the May 2003 edition of the InterMarket Forecaster:

...Congressional Republicans are helping to gut the tax-cut proposals made by their party's leader in the White House; they promise to phase in any tax cuts that are enacted, thereby inducing deferrals of economic and investment activity and causing near-term stagnation...Not to be out-done, the D.C. regulators, especially at the SEC, persist in suffocating free speech (and the free flow of information) on Wall Street -- while sabotaging investor confidence.

The only honest heroes out there -- the only ones quietly delivering the higher profits and equity gains so eagerly sought by investors -- are the entrepreneurs and CEOs (and the few people who defend them). They are working against enormous odds, under the boot of a hostile government (and public)...It's not the Washington-types but the business heroes who've delivered the goods and the gains in U.S. equity prices that we've all seen since last Fall. We can add a word of sincere thanks to the Pentagon and the military -- the only honest and capable elements in the entire U.S. government...