Originally Posted by cdcox
My point is that uncertainty has always been part of the business environment. It might be higher now than it has been in the past, but the fact is that it is going to be around for a long time. Deal with it or don't but quit whining about it. But the successful companies will be the ones that deal with it the best.
No one thinks that uncertainty isn't always around.. but that doesn't change the fact that changes in uncertainty can play a significant role in overall economic activity. Not every sector is like energy. Many businesses CAN wait on the sidelines and sit on top of cash reserves. Increased uncertainty slows growth, that is pretty well accepted and this article only goes further to prove the point.
Another key point to remember is not to confuse RISK with UNCERTAINTY. Risk is quantifiable, uncertainty is risk that by it's very nature is not. That isn't my opinion, that is how the terms are defined when applied in this context. (see Knight, 1921)
My opinion is that Obama's policies (reactions to the housing crisis, Obamacare, etc) have only INCREASED an already healthy does of uncertainty. They aren't the only cause, not by a long shot, but they have had an effect and that effect is showing through even slower regrowth. Plenty of business leaders like Steve Wynn (an ardent Obama supporter in 2008) have taken the exact same position.