This is only a small part of his asshatery. But it’s a good start
[youtube]http://www.youtube.com/watch?v=gQD9IaGoLWk&feature=player_embedded#at=217[/youtube]
Push this video across the interwebs… Viral is needs to be (Yoda)
IF you have any money in the stock market, you should be thinking about removing it and investing it in a can for burial in the back yard. (IF you still have a yard)
I’ve been reading several investors articles, and some business journals. Now I want you all to know I don’t treat business like I do political differences. I believe money is green and it doesn’t matter your political opinions, every one needs and wants money. There are good things you can do with money and very few good things you can do without it.
That being said, on both sides of the political spectrum, investors are running. Investors do not see the “Light at the end of the tunnel” that they did when the Presidential powers switched hands. Business investors, company owners, large and small cap businesses and your average retirement investor are all in unison saying there is a large drop coming.
I’ve opined about this before, matter of fact in 2006, we had a great conversation over at Jenns and here about what would happen to the economy if the “Democrat Tsunami” came to pass. The Democrats took control of both houses and the economy tanked shortly there after.
It’s important to look at why, and it’s really important to understand a couple of things:
1. The rich are demonized now. They are the target of every democrat looking to save their seat or take one from another democrat. They are being led in their “Tax the Rich” cheer by the head Democrat Barack Obama. When you are the target of an attack what do you do? You can take it and say please don’t hurt me…OR you can fight back. Right now the rich are fighting back. And they are doing it RIGHT.
The rich, who by the way are the ones that provide jobs, are saying ok, you are going to tax me because I’m rich. I’ll get richer, to cover the taxes and maintain my lifestyle. I’ll do more with less, I’ll cut staff, I’ll cut costs and I’ll up prices to cover my current expenses. Business 101; Survival.
Businesses have a lot at stake, they have employees that have been with them for longer than Bush or Obama have been in office and they are trying to keep them. They will not take risks that may cost their employees and their own solvency.
2. Business are recording good profits. Many businesses are actually having record earnings. BUT they are not going to risk anymore because they will not be too big to fail. They will get taxed more, pay more for their employees insurance, spend more on the regulations, lawyers, and the ever looming disaster known as OBAMACARE is putting a big cloud over jobs. Jobs are needed to spur revenue for the states and federal system.
Unfortunately the current crop of leaders do not understand the concept of supply and demand, supply side economics nor do they understand the will of the people. The people are not all stupid. The rich got rich by being smarter than the rest of us. The rich can be your friend, they can be your best ally or in this case can be your worse enemy.
The Obama, Pelosi and Reid TRIAD of DOOM have made a blunder of epic proportions. They have placed their careers ahead of the nations well being. They have banked on the anger of the inner cities to garner votes by bashing the rich. The rich (Anyone making over 250k a year they say) are sick of being targets.
Imagine you being one of those that made 252k a year, running a small business and had 7 employees. You are demonized, you are taxed unfairly and every time you turn on the TV someone with a “D” in front of their name is demanding more from you. How do you hire anyone else? Most of the people in that predicament have shut their doors and either found work somewhere else, or decided to retire. So what happened to the 7 employees? Yep ladies and gentlemen they are now part of the 9.6 to 13.2% unemployed.
So where are we headed? According to many economists, investors, and stock market dabblers, we are headed for Recession, depression, inflation, and higher taxation.
GOD save our country.
An interesting article regarding the state of American finances. The path we are on, and what is at the end of the path.
The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”
As John Williams (shadowstats.com) has made clear on many occasions, an appearance of recovery was created by over-counting employment and undercounting inflation. Warnings by Williams, Gerald Celente, and myself have gone unheeded, but our warnings recently had echoes from Boston University professor Laurence Kotlikoff and from David Stockman, who excoriated the Republican Party for becoming big-spending Democrats.
It is encouraging to see some realization that, this time, Washington cannot spend the economy out of recession. The deficits are already too large for the dollar to survive as reserve currency, and deficit spending cannot put Americans back to work in jobs that have been moved offshore.
However, the solutions offered by those who are beginning to recognize that there is a problem are discouraging. Kotlikoff thinks the solution is savage Social Security and Medicare cuts or equally savage tax increases or hyperinflation to destroy the vast debts.
Read the Rest HERE
The author lays it out pretty clearly, the path we are on is unsustainable. I don’t agree with some of his “liberal talking points” for instance: He blames a large part of the problem on “Israel’s territorial expansion” Now excuse me but I don’t think Israel is creating an empire anywhere. I see them lobbying for support from the USA so they are not wiped out by a bunch of Islamapukes. But the rest of it is pretty much dead nuts.
The author also spells out the future in pretty simple terms. “People will walk into a wall-mart and think they stepped into a Neiman-Marcus,” because the prices are going to be astronomical.
Other than the author laying all the blame on our Military, Israel and “neocons” I’d say he’s absolutely right. I’d suggest EVERYONE read this article in it’s entirety. It’s an eye opener and it’s not a doom and gloom piece, it’s a solution based piece of writing with a few jabs at everyone’s favorite targets.
I’d also suggest you stock up between now and December.