Census Shows 200,000 Small Businesses Shut Down From 2008-2010

According to Census figures, some 200,000 small businesses disappeared from the rolls between 2008 and 2010. Those businesses were responsible for some three million jobs. The Obama administration claims that they’re moving in the right direction – but the direction of the economy is now reversing itself.

Not surprisingly, Gallup finds that business owners are turning on President Obama. The national poll showed a 59-35 disapproval/approval split. Workers are split in favor of Obama, thanks in large part to Obama’s heavy emphasis on class warfare.

It is no coincidence that government spending has expanded dramatically during the same period that private sector businesses were going under. And it is no coincidence that, even as the economy falls back into a slump, from the mildest recovery in our lifetime, Obama believes that only more government spending can solve the problem.


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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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