Posted on 06/14/2011 7:54:01 AM PDT by george76
The US economy is just "bumbling along" and creating an uncertainty among business that is likely to stifle hiring and growth, investor Wilbur Ross said.
Ross blamed Washington policies for much of the problems, from the lack of a housing recovery to the recent controversy in which the Obama administration is trying to block Boeing ...from building a plant in a right-to-work state.
"This kind of thing is bad because it's unsettling to companies," he said. "Business has a terrible time adjusting to uncertainty. Good news they can adjust to, bad news they can adjust to. Uncertainty makes it very, very hard to make long-term commitments."
Businesses also are facing weak consumer spending. Unemployment remains mired at 9.1 percent while housing prices recently have double dipped despite aggressive efforts in Washington to stem the crisis.
"The consumer still hasn't been rehabilitated," Ross said. "All the meddling in the real estate side of life has not fixed residential real estate. If anything I think it's made it worse because it's extending out the foreclosure time lines and putting more uncertainty and more downward pressure."
...
"Who in American business is going to have confidence to build a new factory, add employees, if you're not even sure you can build the factory where you want to?" he said. "You can't have social experimenting interfering with turning the economy around. And I think that's what's going on here. It's social experimenting instead of building the economy."
(Excerpt) Read more at cnbc.com ...
Mr. Ross is right!
“Oh, Wilbur...!”
Answer: Obama and the Democrat Party must go!!! End of story!!!
“You can’t have social experimenting interfering with turning the economy around. And I think that’s what’s going on here. It’s social experimenting instead of building the economy.”
Well, there you have it. Liberals love that social
tinkering. Just have to mess with things.
Meddlers.
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