My friend Bruce Schierstedt sent along to charts that explain why entrepreneurs and all of us who care about entrepreneurs remain so gloomy these days.
The first is a chart from CalculatedRisk that shows job growth coming out of this and all of the recessions since 1948.
The second one is from the Cleveland Fed. It shows bank lending coming out of the past few recessions.
Entrepreneurs know what is going on. They are in the middle of the battle. They know that any recovery is quarters if not years away.
If I hear one more rationale for a government spending bill that says that it "saved or created jobs" my head is going to explode.
Government spending has never created sustainable job growth. Entrepreneurs do.
Right now entrepreneurs are accurately being described as cautious, worried, hopeless, and discouraged.
Thank goodness they are by nature so resilient.
There is still time to leave the money in their pockets and get out of their way to turn them loose. But the deeper we dig this recessionary hole through wrong-headed economic policies, the longer and more difficult it will be for entrepreneurs to eventually pull us out of this.
The first is a chart from CalculatedRisk that shows job growth coming out of this and all of the recessions since 1948.
The second one is from the Cleveland Fed. It shows bank lending coming out of the past few recessions.
Entrepreneurs know what is going on. They are in the middle of the battle. They know that any recovery is quarters if not years away.
If I hear one more rationale for a government spending bill that says that it "saved or created jobs" my head is going to explode.
Government spending has never created sustainable job growth. Entrepreneurs do.
Right now entrepreneurs are accurately being described as cautious, worried, hopeless, and discouraged.
Thank goodness they are by nature so resilient.
There is still time to leave the money in their pockets and get out of their way to turn them loose. But the deeper we dig this recessionary hole through wrong-headed economic policies, the longer and more difficult it will be for entrepreneurs to eventually pull us out of this.
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