A coal mine owner in Alabama has decided to go Galt. He's had enough.
“Nearly every day without fail…men stream to these [mining] operations looking for work in Walker County. They can’t pay their mortgage. They can’t pay their car note. They can’t feed their families. They don’t have health insurance.I applaud his decision. After thinking it over for two years, I've reluctantly concluded that it's time for the entire country to do that. I honestly can not see any other way, short of actual civil war, to get the state and Federal governments to back off.
And as I stand here today, I just…you know…what’s the use? I got a permit to open up an underground coal mine that would employ probably 125 people.
They’d be paid wages from $50,000 to $150,000 a year. We would consume probably $50 million to $60 million in consumables a year, putting more men to work. And my only idea today is to go home.
What’s the use? I see these guys—I see them with tears in their eyes—looking for work. And if there’s so much opposition to these guys making a living, I feel like there’s no need in me putting out the effort to provide work for them.
So…basically what I’ve decided is not to open the mine. I’m just quitting. Thank you.”
The latest round of ridiculous 'negotiations' in D.C. was one of the last tumblers to fall into place. I applaud the Republicans for trying, but even the most 'extreme' plans represent at best 1/10th of what needs to happen, economically.
The regulatory burden, many times greater, isn't even being discussed. While I fully expect things to get a whole lot better for a while after January 2013 - if Obama. Reid, and crew haven't completely destroyed any chance of recovery by then - it won't be nearly enough.
No one hopes more than I that I'm wrong, that this is just (temporary) and unfounded pessimism. But I genuinely can not see how you pay down several trillion dollars of debt without serious changes to entitlement programs and even the Republicans are only nibbling at the edges. I can't see how you prevent a continued economic slide without removing vast swaths of irrational regulations. I can't fathom how any of this will even begin without a moral and cultural revolution, which doesn't appear to be in the offing. Even the Tea Party is a very weak brew.
Still, I've been wrong before. Maybe I will be again.