The Great Bear Market is now in its 3rd Presidential Administration, having begun under William Jefferson Clinton, continued under George Walker Bush, and trending near all-time lows under Barack Hussein Obama.
If there is a greater indictment of our societal and educational preference for MBAs and lawyers, over scientists and engineers, it would be harder to imagine it. Our educational system is geared to generating professionals for zero-sum and negative-sum competition, not positive-sum wealth creation.
Of course, under the current administration, companies and unions would be foolish to bank on wealth creation. It is far smarter to act like Goldman Sachs (which has received billions in government grants) or the UAW (to which the federal government is giving Chrysler).