Defenestrating Thoughts from the Bivouac

Right after I posted about how government policy uncertainty is preventing a recovery, I came across an interesting article with recent comments from Fidelity’s Edward Johnson:

Johnson, sounding like he’s never been a big fan of the original New Dealers from the 1930s, warned of too much government involvement in the economy and indicated Fidelity is beefing up its government-affairs unit to fend off possibly burdensome new regulations.

Now there’s a money quote! With the market paralyzed with uncertainty about what the next random game-changing policy to come out of Washington will be, companies are hiring lobbyists in an attempt to protect themselves!

So, I guess Obama’s job creation plan is working; it’s creating all sorts of demand for lobbyists.