Three Years of Sitting Obama Out

Victor Davis Hanson gives eloquent expression to the notions that I have put forth on this blog since the very first days of the Obama administration in this essay titled Sitting Obama Out.  The first notion is the "Job Market Vigilantes" and the second is a "Capital Strike".  The two are cousins of the same economic principle - incentives matter.

Indeed, I have used the actual words to describe how business leaders have largely approached the existence of the Obama administration - wait him out.  They have waited him out, hiring abroad, hoarding cash, shrinking their balance sheets, and now the light at the end of the tunnel is faintly visible.