As previously noted, the “recovery” remains an essentially jobless one.
There is no longer any real question as to why that is so.
‘I’m just quitting’: A scene right out of ‘Atlas Shrugged’ in Birmingham
by David McElroy
After Bryant listened to all of the business-bashing, he finally stood to speak. He sounded a little bit shellshocked, a little bit angry — and a lot frustrated.
My name’s Ronnie Bryant, and I’m a mine operator. I’ve been issued a [state] permit in the recent past for [waste water] discharge, and after standing in this room today listening to the comments being made by the people…. [pause] Nearly every day without fail — I have a different perspective — men stream to these [mining] operations looking for work in Walker County. They can’t pay their mortgage. They can’t pay their car note. They can’t feed their families. They don’t have health insurance. And as I stand here today, I just … you know … what’s the use? I got a permit to open up an underground coal mine that would employ probably 125 people. They’d be paid wages from $50,000 to $150,000 a year. We would consume probably $50 million to $60 million in consumables a year, putting more men to work. And my only idea today is to go home. What’s the use? I don’t know. I mean, I see these guys — I see them with tears in their eyes — looking for work. And if there’s so much opposition to these guys making a living, I feel like there’s no need in me putting out the effort to provide work for them. So as I stood against the wall here today, basically what I’ve decided is not to open the mine. I’m just quitting. Thank you.
I have no idea what Bryant will actually do. He might have made a quick emotional decision based on anger at feeling blamed for things that are frequently just normal health issues of life. He might reconsider and go ahead with his project.
I doubt that he will reconsider any time soon. The regulatory and tax environments are stacked against his success. He has much to lose, and very little to gain as things currently stand, and the earliest relief he can hope for won’t arrive until January of 2013.
Hat Tip: Glenn “Instapundit” Reynolds who reminds us (in the words of Robert A. Heinlein):
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
This is known as “bad luck.”
We’re seeing a lot of “bad luck” just now, and an ever increasing number of folks going Galt.