Bad Luck

Every time President Obama or one of his apologists whines that the economy is in the doldrums because of "bad luck", I am reminded of this quote from science fiction writer Robert Heinlein:

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”

Plenty of that going around.