Wednesday, June 8, 2011

Inching toward Soviet economics?

According GOP front-runner Mitt Romney, America is “inches away from ceasing to be a free-market economy” thanks to President Obama. Like so much about Mitt, this, too, is laughable. Now for the facts from financial writer Steven Pearlstein: "Just to review: The Bolsheviks have taken over, capitalism as we know it is about to come to an end and, yet, somehow the Dow Jones industrial average has gained 47 percent since the Obama inauguration, private-sector profits are back at record levels and business investment in new equipment and software is growing at the annual rate of 11.7 percent. How weird is that?" A lot less weird than anything coming out of Mr. Romney's mouth these days.

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