2010 will be remembered as the year of contradictions. Many corporations will end the year with the largest cash hoard in their histories and yet unemployment remains near 10%. Banks have been given billions of dollars in bailout money and yet credit remains historically tight. Interest rates are near zero and yet consumer spending remains tepid. 2010 has seen the largest amount of government spending on social programs in history but citizens are the angriest they have been in decades.
For all the good intentions in Washington, we must now accept that the economic principle of supply and demand cannot be indefinitely manipulated. Politicians and their agents cannot make people trade with one another, buy what they do not wish to consume, and act against their own self interests.
Happy New Year