Quote of the Day
Courtesy of Karl Denninger:
There is no free enterprise without the freedom to fail….I refuse to engage in entrepreneurial activity as I did before because I simply cannot gauge whether the government will protect some firm that I identify as a “good target”, or a “new opportunity” to take apart — piecemeal. I’m more than willing to match wits with anyone else in the private sector, but I’ll be damned if I’m going to take on the government and their guns; that’s suicidal, and I’m not.
THAT is what happens when government gets into the business of deciding which companies succeed and fail: they stifle worthy competitors who would otherwise be able to provide a better product at a more favorable price.