Minyanville Underground Railroad: The Politics of Policy
Below is an excerpt from Todd's column, The Politics of Policy, which will publish on Minyanville tomorrow morning. This is a MUR exclusive:
The State of the Union was delivered last week and it sparked a myriad of mixed emotions.
From 40,000 feet, one could argue President Obama was spot on; jobs are the primary focus and small businesses -- the fabric of our great nation -- must be encouraged if we're to rebuild our economy from the inside out. There is a ton of motivated human capital trying to pave the way to better days; they (we) must be encouraged, not repressed.
While broad strokes were painted, it remains to be seen if politicians will be able to color within the lines. We've witnessed The Great Divide these last few years: red states vs. blue states, the have's vs. have not's and Main Street vs. Wall Street. The President was correct in saying we must work together to execute solutions but that's easier said when political agendas abound. (See also David Stockman's article How Politics Caused Fiscal Disaster)
Into the 2008 Presidential election, I offered that the vote came down to "diplomacy vs. defense;" that the enormity of the cumulative imbalances embedded in the system was bigger than any one man or political party. The cancer, so to speak, had outgrown the entire economic patient.
I half-jokingly opined at the time that with a forward-looking lens, the Republicans should vote for Obama and the Democrats campaign for McCain. "Someone will fall on this economic sword," I wrote, "and we should be prepared for palpable pushback regardless of who wins."
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In case you missed it...
Please see some of our other recently released top content below.
How Politics Caused Financial Disaster
by Minyanville Staff
David Stockman, former Director of the Office of Management and Budget during the Reagan administration, writes in with a guest column in which he argues that the actions taken by the current and past administrations have led us directly down the path of destruction.
Worst Work Uniforms
by Minyanville Staff
In this package of articles, Minyanville gets to the bottom of some of the least flattering garb for employees... ever. See some of the hilarious get-ups here.
The Statistical Recovery Has Arrived
by John Mauldin
The latest GDP numbers showed the economy has been growing, but that does not mean investors should assume we're in the clear and on the road to recovery. Statistics are only one part of an economic recovery.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at email@example.com.
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