Maine Governor Paul LePage’s ‘Sense on Cents’
Posted by Larry Doyle on January 9, 2013 9:19 AM |
“Investment capital goes where it’s welcome and stays where it’s appreciated.”
Do you ever get the sense that many a politician believe that issues are too complex for the general public to understand? I would turn that around and maintain that basic economics are often not understood by the politicians themselves.
I would go one step further, though, and state that many issues are unnecessarily complex because the payoffs and cronyism embedded in the issues need to find a home in the legislation.
What does America need?
We need to eliminate the payoffs and cronyism. We need to incorporate basic economic principles, aka ‘sense on cents’, back into our American fabric. We can find some of these principles way outside the crony capital of Washington DC in a place where people are fond of saying, “you can’t get there from here.” Where is this? The great state of Maine where Governor Paul LePage recently uttered the simple but powerful statement highlighted above.
Let me reiterate, “Investment capital goes where it’s welcome and stays where it’s appreciated.”
No doubt about that. Why are volumes across most equity exchanges and other market sectors down so much?
Our markets overseen by regulators in the hip pockets of the industry do not welcome and protect investment capital. Our economy and nation suffer as a result. We cannot think that the balance sheet of the Federal Reserve and other central banks will finance our nation in perpetuity. Unless and until we return to basic economic principles — as highlighted by LePage’s statement above — and real regulation practiced by unencumbered real regulators, America’s future will not be what it could be. Here is a brief 5-minute clip of some old fashioned, down home, common ‘sense on cents’ as delivered by the governor from the great state of Maine.
I have no business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.