Let me tell you about Bill and then I have to bolt.
Bill is my buddy and my realtor. I've known him a long time as I've been in real estate a long time. And ever since I've known him he's been an entrepreneur. He's been in real estate, works hard and has always been on the look out for what we call "Cunning Plans" as a reference to the Black Adder Comedy Troupe.
His "cunning plans" included grandiose things like boosting some of the poorer communities by bulldozing the worst neighborhoods and putting a golf course right in the middle while building around the periphery of the course condos to house those displaced.
Another was to analyze and identify key houses in the richest of neighborhoods, purchasing them and housing ex-cons and loud youth in them to drive prices in the neighborhood down, only to repurchase the land, kick the criminals out and resell the properties at a markup.
Whatever the case, he was always thinking, planning and scheming coming up with new ideas.
Now he's gone into complete defense mode. His purchases and "investments" are not really investments at all, but food supplies, survival gear and potentially finding a safe house. Admittedly he's gone a little further down the "society collapsing" route than I have, but be it him, me or any other young entrepreneur, there is a HUGE ramification that just dawned on me.
The entrepreneurs are no longer entrepreneuring. They've stopped.
Now, if you study economics enough, you will realize that what REALLY advances economies and societies is NOT working harder and more efficient. It is revolutionary ideas, largely led by entrepreneurs and youth, that revolutionize society and produce massive amounts of wealth (ergo why I support STEM degrees and advocate the elimination of liberal arts and other such worthless degree and programs).
Regardless, the juxtaposition of talking to Bill the other day and what the clueless leaders in Washington say is hilarious, though sad. Obama wants a "sputnik moment." He also wants to "win the future" and his rosy budget forecasts rely on 5% RGDP growth in the future. Our governor, Mark Dayton in his speech hailed a "generation of greatness."
Not without the likes of Bill.
For idiots such as Mark Dayton and Barack Obama who never work a real job in their lives and have never produced an ounce of genuine economic production (both trust fund babies), think they can simply "order" "greatness" and "sputnik moments." They don't realize they need to get out of the way, shut up, lower taxes and make the country hospitable to future entrepreneurs. They also don't realize that the single biggest fear driving away investment and future entrepreneurs is that damn deficit and the forever increasing likelihood of economic collapse.
And until that happens, you can expect Bill to store nuts for a horrible economic winter instead of start up another company and employing people.
Enjoy the decline!