Plain Talk About the Economy
General session keynoter says the country is all about government, all of the time.
by Troy Smith for Angus Journal
General session keynoter Stuart Varney says the country is now all about government, all of the time.
TAMPA, Fla. (Feb. 7, 2013) — Has the financial culture of the United States changed? Speaking before a general session audience at the 2013 Cattle Industry Convention in Tampa, Fla., economist, financial journalist and Fox Business Network personality Stuart Varney said a shift in the financial culture followed in the wake of the financial crisis of 2008. Now, said Varney, the country is all about government, all of the time.
Varney said the mainstream media played a role, negatively portraying capitalism as the greedy pursuit of profit. Admitting his own part in it, Varney said the media harped constantly about extravagant spending among executives of failed and failing companies.
It gave corporate America a black eye and stirred anger among the people, he explained.
They wanted government to fix it. According to Varney, that’s reflected in the intensive policy approach of the Obama administration and many members of Congress. They think the answer is regulation and that much more regulation is needed.
“Obamacare is an example. In effect, it nationalizes 15% of the U.S. economy,” said Varney. “But their watchword is ‘fairness,’ and they think it must be controlled through regulation.”
Consequently, added Varney, the U.S. as a country is looking much more like Europe.
“I hate to say it, but slow (economic) growth, high unemployment and massive debt — that’s Europe,” warned Varney.
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