Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth.

Prof. Allen Meltzer in the WSJ. Worth reading.

Image from Getty Archive.

Confucius, Œc. Vol.

Don’t ask impertinent questions like that jackass Adept Lu.