Big Business and Big Government: Let the Apathy Olympics Begin!

“Nothing that Obama has proposed, that Geithner has enacted or that Krugman has cheerleaded has meant a damn thing for small businesses in the US.”

My clientele is nationwide and the vast majority are business owners.  They represent every industry, every region in the country and every political persuasion.  When I relay the sentiment on The Street about how the ISM or the ABC or the XYZ survey is indicating an economic recovery, they are completely at a loss as to what recovery I could possibly be talking about.

This is becoming a farce, with the punchline being the small business owner and his employees.  CNN is reporting that President Obama’s upcoming Jobs Summit will be featuring Disney Chief Bob Iger and Google CEO Eric Schmidt, two guys who wouldn’t understand the plight of the independent businessman if they tripped over it on the way to the executive washroom.

With the majority of the administration’s efforts being driven toward coming to the aid of the Fortune 500 and keeping the union/bureaucratic machinery humming at level 10, it’s no wonder we’re staring 20% under-employment right in the face, a year into Obamanomics 101.

How much longer small business will be ignored remains to be seen, but judging by Obama’s guestlist for the event, I wouldn’t be too excited for the epiphany we all know must come for the bleeding to stop.

Let me spell it out for those in the administration who think that higher stock prices are their report card:

CUT TAXES FOR SMALL BUSINESS NOW.  AND GIVE TARP MONEY TO SMALL BUSINESS, TOO.  YESTERDAY.

Small businesses account for HALF the jobs in this country and they have been absolutely trampled in both the recession and the so-called recovery.  While big oil and big tech and big manufacturing are “playing” the dollar carry trade and deriving huge sales and profits from overseas, the provincial business owner can do nothing but watch.  For many, exporting is out of the question logistically or doesn’t translate based on what the company makes or does.

Banks are hoarding and not lending, state governments are using federal stimulus cash to pay down debt, consumers are stampeding Wal-Mart and TJ Maxx for 99 cent Asian-made junk – they are not transacting with the local merchants.  Nothing that Obama has proposed, that Geithner has enacted or that Krugman has cheerleaded has meant a damn thing for small businesses in the US.

Until this changes, the bankruptcies, layoffs and delinquencies will continue.

Have fun at the Jobs Summit Apathy Olympics, fellas.

What's been said:

Discussions found on the web
  1. Robert Wilson commented on Nov 30

    Just give them money?

    That is your solution… this makes sense? as opposed to loaning it to them.

    Of course you need to decide what businesses get money and which ones don’t?

    and it would be nice if you could give some money to someone and they could leverage it up and loan it out…

    wait… this sounds like the program we have!

    at one point these business will have to learn to live without this free money you suggest.

    I guess you think that “Josh Brown-onomics” is somehow better, just run around giving random small business money.

    At one point you are going to explain how if big and small business don’t pay taxes, and the upper class don’t pay taxes… why the people making 30-50K a year should pay for the military and the police and the roads.

    Let me also point out that those people don’t Net 30-50k, 12-15K of their income is from healthcare. So their gross take home is 18-38K…

    those people should pay for everything? Out of what?

    If you ever wonder why we are in so much trouble… it just takes a little math…. or it just takes a quite a few people who can’t do any math.

    TRB: Yes, that’s absolutely correct – my solution is to take a portion of that multi-trillion dollar recovery effort – A PORTION – and give it, no strings attached, to small businesses who can demonstrate and substantiate the fact that they will grow and more importantly HIRE with the money.
    Not a loan from the government, more like an apology gift for the fact that, in part, the recession and credit crunch was caused by the federal government and its policies to begin with.

    And then the government should literally BEG its small business owner and employer constituency for forgiveness to have allowed things to get to this point.

    Thx for reading.

  2. Robert Wilson commented on Nov 30

    Just give them money?

    That is your solution… this makes sense? as opposed to loaning it to them.

    Of course you need to decide what businesses get money and which ones don’t?

    and it would be nice if you could give some money to someone and they could leverage it up and loan it out…

    wait… this sounds like the program we have!

    at one point these business will have to learn to live without this free money you suggest.

    I guess you think that “Josh Brown-onomics” is somehow better, just run around giving random small business money.

    At one point you are going to explain how if big and small business don’t pay taxes, and the upper class don’t pay taxes… why the people making 30-50K a year should pay for the military and the police and the roads.

    Let me also point out that those people don’t Net 30-50k, 12-15K of their income is from healthcare. So their gross take home is 18-38K…

    those people should pay for everything? Out of what?

    If you ever wonder why we are in so much trouble… it just takes a little math…. or it just takes a quite a few people who can’t do any math.

    TRB: Yes, that’s absolutely correct – my solution is to take a portion of that multi-trillion dollar recovery effort – A PORTION – and give it, no strings attached, to small businesses who can demonstrate and substantiate the fact that they will grow and more importantly HIRE with the money.
    Not a loan from the government, more like an apology gift for the fact that, in part, the recession and credit crunch was caused by the federal government and its policies to begin with.

    And then the government should literally BEG its small business owner and employer constituency for forgiveness to have allowed things to get to this point.

    Thx for reading.