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"I had to get permission to publish their research, which I didn't get for years. And so I can't pay analysts if I can't sell their research.
People don't appreciate the number of regulations entrepreneurs face. Schiff pays 10 people just to try to figure out if his company is obeying the rules.
"You can't just act very quickly, because everything has to be done through this maze of compliance. Even my brokers ... find out that maybe 20 percent, 30 percent of their day is involved in compliance-related activity, activity that is inhibiting their productivity. ... All around the country, people are complying with regulations instead of producing, instead of investing and growing the economy. They're trying to survive the regulations."
This is no way to create jobs or wealth. Keynesian pundits and politicians can't understand why businesses sit on cash rather than invest and hire unemployed workers. It's really no mystery. Government is in the way.
John Stossel is host of Stossel on the Fox Business Network. He's the author of Give Me a Break and of Myth, Lies, and Downright Stupidity. To find out more about John Stossel, visit his site at johnstossel.com.
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