American enterprises going Galt

November 19, 2012
By

Pulling back on investment:

U.S. companies are scaling back investment plans at the fastest pace since the recession, signaling more trouble for the economic recovery.

Half of the nation’s 40 biggest publicly traded corporate spenders have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls.

Nationwide, business investment in equipment and software—a measure of economic vitality in the corporate sector—stalled in the third quarter for the first time since early 2009.

Meanwhile, Europe is now officially in a recession, for the first time since 2009:

Figures released today showed that collectively the economies of the 17-country eurozone contracted by 0.1 percent between July and September. While this is a slight improvement over the second quarter of the year when it shrank by 0.2 percent, the definition of a recession is two straight quarters of contraction. Most analysts believe that the recession will continue at least until the end of 2012.

[...]

The relatively small size of the overall contraction doesn’t show the full scope of the problem facing Europe. Some nations — notably France and Germany — even saw their gross domestic product expand. Howard Archer at IHS Global is one of many analysts who do not expect these expansions to continue.

“Latest data and survey evidence remain generally weak, and the odds currently strongly favor the eurozone suffering further GDP contraction in the fourth quarter of 2012,” he said. “Significantly, Germany looks to be in severe danger of contracting in the fourth quarter, as does France.”

Indeed you don’t have to look very far to see how widespread the economic slowdown is.

Industrial production for the entire eurozone fell 2.5 percent in September from August, according to Europe’s statistics agency, Eurostat. That is the largest one month decline since January 2009 and one that totally reversed the 0.9 percent increase in August.

The arc of history is long, but it bends towards justice. And boy does the 21st-century West deserve some justice!

82 Responses to American enterprises going Galt

  1. artist on November 19, 2012 at 7:12 am

    Anyone here good at milking goats?

  2. IP727 on November 19, 2012 at 7:27 am

    THIS PONZI SCHEME HAS RUN IT’S COURSE,
    WE CAN NO LONGER RIDE A DYING HORSE,
    THE LAST GOLDEN GOOSE HAS BEEN PLUCKED,
    WE AS A NATION ARE SOON TO BE PHUQUED,
    ALL WE WILL HAVE LEFT IS BUYERS REMORSE.

  3. Setnaffa on November 19, 2012 at 7:57 am

    Well, it’s exactly what Obama and his masters wanted…

    • James on November 20, 2012 at 3:24 am

      That is just silly.

      The far right wing has worked itself into a lather in their belief that Obama wants to destroy America.

      It is simply not true, and only points to the effectiveness of the right wing entertainment industry of talk radio, fake news shows, and blogs like this.

      • Jorge on November 20, 2012 at 9:39 am

        Howelse do you explain the fantastic recovery we are having? Must be the president’s great leadership.

      • Zed on November 21, 2012 at 2:11 am

        James, perhaps you should examine 0bama’s intentionally failed economic policies before you post such a naive comment. The right wing media has nothing to do with the fact that 0bama’s economic policy is a direct assault against free market capitalism. One only needs to pay attention to the facts, and not believe the state run media on places like MSNBC, to understand that 0bama’s redistribution ideology is specifically designed to downsize American capitalism and prosperity. Only blind liberal zealots cannot see the plain truth – and instead choose to remain ignorant and brainwashed as you obviously are. Get a clue, and think before posting such gullible and naive nonsense.

        • James on November 21, 2012 at 4:05 am

          Zed, you are drunk talking on Kool-Aid. What silly notions you are embracing.

          • Goonions on November 25, 2012 at 6:16 am

            James, Zed is dead on. If you had asked any Republican on this site before the election whether or not this would happen if Obama is reelected I can promise you that we would all have looked like prophets.

            Your man Obama had made it clear time and again that he was going to put a hangman’s noose around the neck of the people who create jobs and they have decided not to allow this to happen. Now you liberals are not happy. Hey,get used to it! This is a free world and if people don’t feel like the extra investment is worth it it is their right to pull back.

            You liberals really need to stop the kool-aid comments. You are the ones that believe that junk the media spouts out and then when things like this happen you are shocked. You just need to be more open-minded about how the world really works rather than your constant dream of creating this unicorn based utopia. I got new for you. You ain’t seen nothin yet. You just wait until that tax base that homey was gonna hit so hard wilts away. There will be far less to hit. I don’t blame them at all.

            You want tax hikes, bring it on baby. Let er rip!!!

  4. Rubio's RINO on November 19, 2012 at 8:29 am

    Here comes Rubio testing the waters in Iowa for a 2016 run!

    He’s come to SAVE THE DAY for the RINO’s!! Never mind that he’s not a natural born citizen, we gotta get those Hispanic votes! Let’s have all the RINO’s on this board, including the one just above this post, give a collective

    “YAAAAAAAAAAAAYYYYYYYYYY TEAM GOP!”

    Got Amnesty??

    • Zed on November 21, 2012 at 2:36 am

      Nobody here is cheering for rubio or amnesty, so pull your head out of ron paul’s ass long enough to realize the actual reality. Also, it was your ron paul cult who either voted 3rd party or for 0bama, so don’t come whining about the outcome now. You paul zealots are worse than liberals and your cult made your choice to support 0bama over R/R so now you can live with the consequences of your personal liberties being taken away one at a time, because that will be the outcome of your blind allegiance to a david-koresh like cult leader. Everything that happens to you blind ron paul sheep from this point forward will be because of you own blind and gullible stupidity. Own it.

      • James on November 21, 2012 at 4:08 am

        Zed, you are overwriting. It is not that bad. Things would be better, if the right wing would roll up its sleeves and pitch in, rather than sit on its hands.

        • anonymous un-Paulbot on November 21, 2012 at 8:22 am

          Some common-sense minded people choose not to participate in the wilfull abortion of the U.S. economy under the rule of a corrupt lying marxist.

          What a suprise to see that you don’t support their right to choose or their right to protest against an obviously corrupt government, you silly hypocrite.

          • Today's Math Lesson on November 22, 2012 at 8:01 am

            Zed = Anyonymous un-Paulbot/tard = loser RINO supporter = Amnesty lover = fake Consersative.

        • Goonions on November 25, 2012 at 6:25 am

          So, you want us to help your side with amnesty so that you Democrats will have another voting block to buy for the next election. We don’t think so. What we really need in millions of people coming here with the banana republic mentality of government being everybody’s savior. Your problem is that you are underwriting. You are just spouting the typical shallow liberal talking points.

          By the way, if the liberals with untie the conservatives hands maybe something can get done. Had a deal for the fiscal cliff issue long ago but Barry bailed after the deal was done. You know that.

  5. Mildred Smith on November 19, 2012 at 8:55 am

    One man’s going Galt is another man’s opportunity.

    • IP727 on November 19, 2012 at 10:10 am

      Entrepreneurs will not avail themselves of the opportunity under a marxist demagogue.

  6. Setnaffa on November 19, 2012 at 12:17 pm

    I’m perfectly willing to be a looter until America wakes up.

  7. Setnaffa on November 19, 2012 at 12:20 pm

    Meaning I am unemployed, still seeking work, under-capitalized, and hoping to see a really big tax refund if I can hold out until February…

  8. Setnaffa on November 19, 2012 at 1:32 pm

    And no, I wouldn’t vote for Ron Paul, Gary Johnson, or anyone else that hates Israel, supports abortion and legal marijuana, thinks the US Government knocked down our own buildings, or faked the Moon Landings…

    I guess that makes me a RINO to some folks…

    • rightwingyahoo on November 19, 2012 at 6:14 pm

      Back in 1880-1900 when America was much more a Christian nation than now, you could go down to the corner drugstore and buy any firearm, large quantity of ammo, tobacco, or alcohol, that you could afford.

      You could also buy cocaine, codeine, and MJ.

      Freedom……

      See, this nonsense, where we refuse to allow adults to make their own decisions, is a progressive notion.

      Let us be rid of it.

      I’ll agree with the left to legalize drugs, if they agree to drop their opposition to regulation of firearms.

      Deal?

      • rightwingyahoo on November 19, 2012 at 6:14 pm

        I meant “Drop their support for regulation of firearms”……

        • artist on November 19, 2012 at 8:58 pm

          The left doesn’t compromise.

          We should learn to emulate that.

  9. Setnaffa on November 19, 2012 at 1:39 pm

    While we’re redefining RINO, I prefer Friedrich Hayek and Milton Friedman to Ayn Rand, somewhat; but I detest Keynes, Krugman, Rifkin, and the rest of the “Government is the Answer drum circle” including their circle-jerks and camp-followers…

  10. Gerry Owen on November 19, 2012 at 3:03 pm

    one of my buddies just told one of his crews they will not be needed after Thanksgiving. He hated to do it, but it is cheaper for him to work 40 guys with a little overtime than 52 without.
    I know another guy who laid off a couple workers to get under the 50 employee cap, he picked his by the Obama stickers on their cars.

    • James on November 20, 2012 at 3:28 am

      Yet he voted for the guy that moves money and work offshore. He should have laid off himself.

      • IP727 on November 20, 2012 at 5:00 am

        You mean he voted for the obamunist??

      • Gerry Owen on November 20, 2012 at 5:23 am

        No, voted Romney.
        Liberalism created the expensive, anti-business environment that forces jobs overseas.

        • Zed on November 21, 2012 at 2:53 am

          James is clearly too stupid to post anything meaningful, or truthful. Ignore the liberal kool-aid chugging zealot. Idiots like James are incapable of grasping onto difficult concepts like: ”basic economics 101”.

          • Haverwilde on November 21, 2012 at 1:44 pm

            Right Zed, And there is a difference between making a decision to move a job overseas because of market forces; and using our tax dollars to move jobs overseas as Obama has done.

      • Goonions on November 25, 2012 at 6:28 am

        What part of “it is his business” do you not understand? Why don’t you tell us what you do for a living. Sounds like you are a “civil servant.” Or maybe an unemployed English major grad.

      • Goonions on November 25, 2012 at 6:32 am

        I have a question for you James. Why are so many people leaving places like California? I thought those places were just absolute utopias. With moonbeam in charge there will be plenty of outsourcing away from that liberal utopia. Libs are the number one reason for outsourcing. The dealing with your derangement gets old.

    • Mad Dog on November 21, 2012 at 3:46 am

      What kind of jackass fires not his worst staff but the ones that have Obama bumper stickers? I expect the sort that goes out of business for making stupid decisions and calling a moron like Gerry buddy.

      • anonymous un-Paulbot on November 21, 2012 at 8:32 am

        Only an ignorant jackass would have voted for 4 more years of economic decline so an 0bama sticker is a great indicator of who is against business growth and therefore those idiots ARE the worst employees.

        • Mad Dog on November 21, 2012 at 9:46 am

          What a dumbass you are. More than half the country didn’t vote for the lying sack of crap the GOP tried to get elected. So it makes sense that more than half the people didn’t vote for him at this company as well.

          Gerry’s story is probably about as much fantasy as it is pure bullshit anyway.

          To be honest given the lack of substance to Romney’s campaign only a fool would have wasted a vote on him and that dunce he picked for a running mate.

          A vote for Obama was a vote to save the economy and what is left of America the GOP didn’t destroy the last time they had the white house.

          • Earl on November 21, 2012 at 11:35 am

            Yeah he saved the economy all right. Lets brrow another trillion + dollars for the next four years. That will work…what a dumbass you are!

          • Setnaffa on November 22, 2012 at 12:13 pm

            Well, Mad Dog does foam at the mouth appropriately… the rest just smells like he’s been rolling in a crowded cow pasture… ;-)

          • Fake Mad Dog = IDIOT on November 23, 2012 at 10:29 am

            A vote for Obama was a vote to save the economy

            Are you high?

            Save the economy? How? By promising to rebuild infrastructure like the power grid with his porkulus idiocy, but then borrowing a TRILLION dollars and didn’t do a damn thing with infrastructure, but instead wasted it all on his corrupt cronies???

            You’re an idiot fake Mad Dog. That disaster in the northeast after hurricane Sandy shows just how much Obama spent on “rebuilding infrastructure like the power grid”.

            Obama lied, yet you still believe everything he says and are STUPID enough to think Obama has done anything positive for the economy. Don’t post such stupid comments fake Mad Dog. You’re embarassing yourself, idiot.

          • Goonions on November 25, 2012 at 6:35 am

            Yeah, and Barry’s I will give anybody anything that will vote for me is the ticket to prosperity? You all are just part of Barry’s big giveaway plan.

          • Ron on November 25, 2012 at 1:05 pm

            You f**king ignorant people. It will be the same small percent of the real people to salvage what will be left of our country.
            You f**king crybabies will be the ones who will cry the loudest when your freedoms are taken from you.

            And of course you will all just hide and wimper, when the real patriots take up arms to take back our Country.
            I will be so glad to see you 60’s hippies finally get your due.
            You f**king assholes, who dared to call us “Baby Killers and tried to spit on us, returning from VN.
            When the day comes, and it will, I will get much pleasure in your suffering.
            Also, a warning, DO NOT get in our way, or you will be shot down in the streets like a fucking dog.

  11. Jim,MtnViewCA,USA on November 19, 2012 at 3:50 pm

    Practice saying “Do you give a discount for cash?”
    A little tax minimizing can go a long way towards starving the beast if enough participate…..

  12. Edward Treadway on November 20, 2012 at 12:50 am

    I think Ronald Reagan said it best:

    “Lose one election? Take your ball and go home. Just pout, that’ll show ‘em!”

  13. James on November 20, 2012 at 3:26 am

    Going Galt is a high school level notion, practised by pouting disenfranchised adults.

    • IP727 on November 20, 2012 at 4:59 am

      Continuing to allow oneself to be used as a sacrificial
      lamb to feed the welfare state is an exercise in insanity.
      The plunderers love a willing victim. Vote with your feet and let
      the system crash.

    • Earl on November 20, 2012 at 5:56 am

      Hey James, you distributionists and parasites may have won the election, but the people who support you are tired of the thievery. Business and well as the productive class in general is deciding to opt out of your welfare state to the extent that it is possible. We will use every loophole and opportunity to avoid perpetuating and feeding the welfare state, just as you parasites use every loophole and opportunity to avoid supporting yourselves.

    • IP727 on November 20, 2012 at 8:19 am

      Voting for the obamunist is a self immolation level notion, practiced
      by whiney class envy children.

    • Gerry Owen on November 20, 2012 at 11:17 am

      Its actually a protective measure, to keep what belongs to you from the hordes who use the vote to steal and loot.
      Enjoy the free shit while you can- we are the brokest nation in the world, half of the debt accrued on Obama’s watch. To continue getting your goodies, it will require the rest of the world to sacrifice 19% of their GDP buying our bonds.
      Methinks that won’t happen.

    • Goonions on November 25, 2012 at 6:46 am

      No, your comments are kindergarten level drivel from a entitlement attitude liberal that is pouting because the tap is being shut off. My suggestion to you is to go start a big corporation for Obama to feed off of and see how it works.

  14. IP727 on November 20, 2012 at 12:09 pm

    The feeble attempt to continue to extract 9 lbs of shit from a 7 lb sack is coming to an end.Those socialist chickens are coming home to roost.

    • Yeah, That'll Happen on November 20, 2012 at 3:20 pm

      Any day now . . . any day . . . any day now . . . any day . . . any day now . . .

  15. Deckard on November 20, 2012 at 2:23 pm

    While I applaud businesses taking care of themselves first, I wince at the idea of thousands more winding up on 99+ weeks of UI from da gubmint. Which means I’m STILL paying for them to sit @ home while I bust my blessed assurances.

    Me-thinks 2013 ain’t gonna be pretty. If Europe is in a recession now, where will we be come summer next year?

  16. Setnaffa on November 20, 2012 at 4:26 pm

    Deckard, HUNDREDS of thousands… maybe more…

  17. Anonymous Un-Paultard on November 20, 2012 at 9:09 pm
    • Setnaffa on November 22, 2012 at 11:05 am

      If you’re really independent, you don’t need to register as such. Just leave Party blank.

  18. Jim,MtnViewCA,USA on November 21, 2012 at 10:46 am

    Compare the treatment given to an answer by Marco Rubio (Repub) with a similar answer given by B Obama (Dem).
    http://legalinsurrection.com/2012/11/we-are-witnessing-the-medias-test-run-to-elect-a-democrat-in-2016/

  19. Setnaffa on November 21, 2012 at 12:28 pm

    I don’t give a flying flip who the Democrats or Republicans nominate to run against each other. I’m going back to only voting for those who are against Federal funding for abortion and in favor of completing the Fence. I assume anyone holding both of those views will be close enough.

    The rest of you are free to vote your conscience, too. For now.

    • Jim,MtnViewCA,USA on November 21, 2012 at 1:20 pm

      I’ll bend my principles a bit more than that….but not much.
      I thought Mitt ran a decent campaign and much better than I expected. Still, if this is
      the best the Repubs can do maybe it’s time.

      • Setnaffa on November 21, 2012 at 1:49 pm

        Jim, I voted for Ford, Reagan (twice), Bush (twice), Dole, Dubya (twice), McAmnesty, and Romney. That’s ten more than I’ll do again if they put forward a candidate who smells as bad as most of them do.

        Now it’s time for them to stop going left. They’re already past where the Democrats were when I started voting in 1976. I’m not “Going Galt”; I’m just not going to bend any further. ;-)

        • Rubio's RINO on November 22, 2012 at 8:52 am

          are we finally getting some backbone? yep, you can’t bend over anymore once you’ve been grabbing your ankles. Which many ‘conservative’ have been doing to varrying degress over the last 12 yrs … perhaps 20. Some have woken up awhile ago, some just waking up, and some are forever asleep in their RINO world (Mr “Anonymous” comes to mind).

          if the GOP leadership pushes Rubio out there in 2016, will you have the courage to say ‘No Mas’! Or will you buy into their BS, cave, and assume the position and grin and ‘bear it’ ? Too many ‘conservatives’ have been doing just that, especially over the last 6 yrs. Worse yet, some of them enjoy it — like, well, we’ll just let him remain ‘Anonymous’ !

  20. Anonymous Un-Paultard on November 21, 2012 at 1:32 pm

    We have to utilize the leftist language that they have made a part of the popular culture since the 1990s. Sustainability is used with regard to natural resources. The general population has bought into that, now we have to apply it to economical and governmental policies.

  21. parkyakarkus on November 21, 2012 at 7:32 pm

    -“going galt is a high school level notion practised by young disenfranchised adults”.
    Hey, sounds like “the 99 percent” to me!

  22. Bertha Venation on November 22, 2012 at 6:58 am

    Time to stock your underground bunker and cut yourself off from the world.

    • Setnaffa on November 22, 2012 at 10:03 am

      Yeah. That’ll work…

      Democrat trolls encourage all dissenting voices to shut up.

      We repeat their advice: Practice tolerance, celebrate diversity, and if you don’t like the message, change the channel…

  23. Ripley on November 22, 2012 at 5:43 pm

    Can’t stay here, can’t move to Europe or Japan. Where do I go to be Galt? Is communist China the only true capitalist country left?

  24. Galtish on November 23, 2012 at 2:00 am

    If you work at it, and do a little research, there are significant ways to reduce your ”taxation footprint” and starve the big government beast. That’s a good place to start; try to work as hard to defund gov’t – as the parasites do to suck at its’ tit. Together, we can cause their milk to sour and then dry up. I can support the idea of BASIC safety nets, but the left and their illegal allies have corrupted that notion to the point of immoral theft and debauchery, so it’s time to cut them off so they can sober up from their welfare drinking-binge.

    • Setnaffa on November 23, 2012 at 4:36 am

      “The conservative idea of America is that we’re a nation of steely-eyed missile men with our eyes on a far horizon. The future is unlimited, there’s nothing we can’t do. We have the power to vaporize any building in the world at our leisure. We have footprints and a flag on the moon. We believe in the power of the human mind and human creativity, human inventiveness, hard work, imagination. We believe that everyone should live like they have 250 million dollars. We believe it’s time for you to step off, get out of our face, don’t tell us what to do. You have a right to live the way you want to in America. That’s our message. And what’s their message? What is their vision for humanity’s future on this progressive left we find ourselves against? Their vision of a future for America is a bunch of people sitting around in thatch huts, sitting around a burning cow pie, pulling parasites off of each other, eating their sustainable algae cakes, and having organic bake sales to raise money for the Guatemalan water snake.”—Bill Whittle, 11/17/2012

    • Dagney Taggert on November 23, 2012 at 4:48 am

      No more pointless wars!

      • IP727 on November 23, 2012 at 5:33 am

        No more peacenik sophistry.

        • Dagney Taggert on November 23, 2012 at 5:48 am

          But the sophistry-enabled peaceniks aren’t going Galt. The warmongers are.

          • Setnaffa on November 23, 2012 at 6:30 am

            When did Obama say he’s “going Galt”?

          • ip727 on November 23, 2012 at 7:44 am

            Enjoy year 4 of the obamunist’s war.

          • Obama = Bush + More War on November 23, 2012 at 10:21 am

            Obama increased wars every bit as much as Bush, if not more, and Obama did spread his wars ILLEGALLY. What was the point of Obama’s Libya war again? Oh right, to create a shortsighted and pointless war that didn’t benefit the U.S. one thin dime, but got more Americans killed. No strategic advantage to Libya either but that didn’t stop Obama from spreading pointless, and illegal, wars.

            And what was your point again troll? Oh right, you don’t have one.

    • Obama = Bush + More War on November 23, 2012 at 10:24 am

      …there are significant ways to reduce your ”taxation footprint” and starve the big government beast. That’s a good place to start; try to work as hard to defund gov’t – as the parasites do to suck at its’ tit.

      I’m reducing my ‘taxation footprint’ also. Screw the left.

      I will do everything in my power to defund the left’s “government gone wild” idiocy!

  25. Ripley on November 23, 2012 at 6:07 pm

    Galt was a 1950’s character, he didn’t have the options we have. We don’t have to play taxation footprint games. We can get out of Dodge and move our factories to Communist China and Communist Vietnam where we can get the kind of wages we want. Move to places where union goons get shot, and your workers have to work seven days a week. Why pussyfoot around with lazy American workers?

    • Setnaffa on November 24, 2012 at 5:19 am

      Ripley, you’re embarrassingly naive or inept at trolling. Apparently, you choose to prevaricate or you don’t know what those words mean. I’m thinking the first-string trolls have decided to “MoveOn”.

      “Union goons” rule communist countries. There were strikes, sabotage, and work slowdowns in US factories creating war materiel from the late 1940s up until Hitler attacked the USSR in June 1941. Then, suddenly, they were all on board. Organized Labor and International Socialism are–and have always been–Siamese twins.

      Jobs move overseas (away from America) because of tax policy, no other reason. Take an basic accounting class, for goodness sake… EBITDA definitions here: http://www.investopedia.com/terms/e/ebitda.asp#axzz2D968cWGp

      • Setnaffa on November 24, 2012 at 5:21 am

        “Late 1930s”, I mean…

      • ip727 on November 24, 2012 at 6:19 am

        As well as the stifling regulatory crap as well. Obammercare will be the final nail.

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