American Elephants


It May Take a Bit of Time for the Panic to Subside by The Elephant's Child

Britain’s stock market had erased all of its BREXIT panic losses, fueled by as surge in energy and financial shares. It had slumped 8.7% after the vote to leave the EU. May be more ups and downs as investors absorb the uncertainty about how it will all turn out. Markets don’t like uncertainty.

The President of the E.U. Parliament, Martin Schultz, got all huffy. “The British have violated the rules. It is not the #EU philosophy that the crowd can decide it’s fate.”

Europeans have never understood and never liked Democracy. They have been ruled by Kings and Queens and Dictators and the Church— and allowing the people to decide is mostly unthinkable. I have particularly liked Matt Ridley’s suggestion that when the individual is free to think and create and experiment, you get ideas having sex. Ideas build on other ideas. A new picture, someone else’s new idea may spark something completely different. “Having sex” is as good a way to describe it as any. What kills creation is regulation. The more stoppers a government erects, the less innovation.

Did you wonder why we never seemed to recover from the 2008 recession? The growth of government and the proliferation of regulation, especially on small business, which is where much innovation is hatched.

Few other countries have ever had the free markets and free people that  have traditionally been found in America. And then there is Switzerland. (click to enlarge)

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