I believed in the “Reagan revolution” and deregulation, but were we all taken for a ride? Because under-regulated big business, be it the airlines or Wall Street left to themselves are capable of destroying whole industries. Neither [US] Congress nor the U.S judicial system stepped in on behalf of us to protect jobs, commissions and investments when they could have. All glory was given to the big guys and now we are all paying the price. Capitalism, yes! free enterprise, yes! But not without fair regulation and protection of industries that are now hanging by a thin thread.
This “Global Economy” is good up to a point, but business here in the US needed protection and didn’t get it. We must be able to manufacture quality goods here at home that compete with the world, we can’t outsource everything.
Finally, the Internet has brought about huge changes in the way we do business but the Internet also needed more regulation. We all are paying the price of elevating this technology without proper regulation higher than we could afford. New businesses were created but it has been and will continue to be a net loss across the board.
I pray for God’s grace that it’s not too late, as we do everything we can to make the corrections so badly needed to get us back on track.