Recession is Latin for Tough Love
Nicolas Loris /
“There is no disagreement,” said President Obama, “that we need action by our government, a recovery plan that will help jump start the economy.” Those chilling words were said in January, but we were reminded of that sentiment yesterday when President Obama claimed that “…economists on both the left and right agree that the last thing a government should do in the middle of a recession is to cut back on spending.”
Markets work and there are many companies and entrepreneurs making the best of the current recessionary environment despite the burdensome regulations emerging from Congress and a dragging economy. This is not to say these firms are recession-proof, rather they are simply performing well, if not better, during this recession.
In a recent Wall Street Journal article, Roy Calcagne, CEO of Craftmaster Furniture Inc., said, “We’re stealing market share.” But that is not because of government intervention, but rather the free market adjusting to market forces. Mr. Calcagne company produces high quality furniture below market prices, not only allows them to stay in business but to grow.