According to President Obama, Entrepreneurs Don’t Build Businesses

Principles & Policy ^

[Sark]

Last night, President Barack Obama delivered some telling remarks to a fire station full of people in Roanoke, Virgina. I’ll save you the trouble of reading the (long and uninspired) speech and provide you with the most interesting part:

“If you’ve got a business — you didn’t build that. Somebody else made that happen.” – President Barack Obama, July 13th, 2012.

It would be easy to respond with something along the lines of, “Somebody else made that happen? Who? Who magically imagined the product or service, started the business, built it up, and created the jobs? Who was it? The tooth fairy?” And to some extent, President Obama’s statement is so ridiculous as to merit that sort of quick, flippant response.

[BfloGuy]

This is a financial gamble and why it takes capital to do so.

One more point your comment spurs: Production takes place before demand is manifest. There was no demand for an iPhone before Apple thought of it, designed it, and spent tens of millions, probably more, producing it.

The consumers came after the fact. Try to tell that to Obama and expect him to understand.

[DaveTesla]

When the the Democrat administration sucked all
the capital out of the market that stalled everything.

Manufacturing is very capital and equipment intensive.
You must have the machinery and materials before you
can hire personnel to manufacture things.

I see that you understand these things but most do not.

They think that government and the tooth fairy create jobs.
It takes money to make money.

Try expanding when there is no credit and all the banks
are operating under a letter of memorandum from the Federal Reserve.

I started to use private capital but they all went underwater.
Things are finally starting to loosen up but for the last
3 1/2 tears we did not expand because the market was depressed
and the capital was not available.

[BfloGuy]

Try expanding when there is no credit and all the banks are operating under a letter of memorandum from the Federal Reserve.

And even if you have your own capital, why would you bother using it if you expect its return to be taxed away by the upcoming fiscal cliff, a President who shows his hatred of free enterprise every day, and the looming health care debacle?

It's bad and getting worse.