Tag Archives: Wall Street

STATE OF THE UNION – ONCE AGAIN OBAMA GOT IT WRONG – PART ONE

And once again, first lady, Michelle Obama, embarrasses the nation by showing up at the State of the Union address in an ugly orange dress that would only be appropriate at a University of Tennessee football game.

What Obama got wrong in the State of the Union!

In his speech, the current president indicated that he regretted not being able to unify the American people. That was one of the items on which he campaigned. Well, excuse me, this president is 100 percent responsible for the divisiveness among the American people. He has sought to divide us racially, socio-economically, religiously, and ethnically. And he has succeeded.

Also, during his initial campaign for president, he indicated that he wanted to fundamentally change the United States of America. What he really meant was that he wanted to destroy the United States of America as we know it. And he just about has. Maybe if we elect a Republican president later this year, we can save this country.

Puke Orange Michelle

Dressed for a University of Tennessee football game

According to http://www.dailysignal.com, Obama got the following wrong in his recently delivered State of the Union address.

  • America is in the middle of the longest streak of private-sector job creation in history. While on paper he is right, the economy is far from booming. While there has been some improvement, the labor market remains much weaker than before the recession hit. Unfortunately, much of this improvement comes from Americans dropping out of the labor force. People not looking for work do not count as unemployed.
  • The current president boasted that on rooftops from Arizona to New York, solar is saving Americans tens of millions of dollars a year on their energy bills and employs more than coal in jobs that pay better than average. Proponents of renewable energy consistently argue that renewables create more jobs per kilowatt hour and thus are a good investment. If that’s the recipe for job creation and economic growth, we can scrap using machinery to pave roads and grow crops. By Obama’s logic, we can create more jobs by; giving people shovels to perform those duties. That would certainly create jobs, but it would also significantly reduce productivity. If we can produce more energy with less labor, that frees up human resources to be productive elsewhere in the economy.
  • The president argued that automation has become uniquely challenging for American workers. Economists have found no historical relationship between automation and employment rates. In the past, workers who lost their jobs because of technology always found new work. Automation only seems like a threat because finding new jobs in Obama’s recovery has been historically difficult. Also, the rate of automation has slowed sharply since 2003. Employers are finding fewer new ways to automate labor in this decade than they did in the last decade. Automation has become a smaller challenger for workers than it was in the past.
  • Recklessness on Wall Street did not cause the financial crisis, a host of government policies did. President Clinton’s National Partners in Homeownership set a completely arbitrary goal of increasing home ownership, and it turned out that most qualified homebuyers already owned homes. All the additional lending helped to create a housing bubble and increased consumer debt, and the capital requirements that federal regulators imposed on the financial system spread risky loans throughout the markets.
  • Energy is one of the last sectors of the economy that needs help from the federal government or a centralized plan. The laws of supply and demand work. We have an abundance of resources, and a great deal of suppliers producing energy from a mix if energy sources. The global market for energy is a multi-trillion dollar opportunity.
  • Obama stated that there are outdated regulations that need to be changed, and there’s red tape that needs to be cut. He’s right. But he has said that many times before. Despite all the talk, his administration has done virtually nothing to reform or repeal the unnecessary red tape. Instead of rooting out outdated rules, he has added on record numbers of new ones. Obama era regulations have cost tax payers $80 billion a year.

I can’t recall anything that this president has done right, yet there are people, Obama zombies I call them, who think he’s the most wonderful thing on the planet Some have even tried to transform him into a spiritual or messianic figure. This is what’s scary and something we

This president got so many things wrong in the State of the Union that it’s going to take more than one article to outline them. Stay tuned.

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LIBERAL PHILOSOPHY RUN AMUCK

Over the weekend I saw a post on my Facebook newsfeed that stated the following: “the total amount of money that Wall Street handed out in bonuses last year was double the total income of all full time minimum wage workers.”

I did check this out and unlike the post I wrote about this past Friday, this one appears to be true and the liberals are just having a field day with it. Socialist/Communist Senator from Massachusetts, Elizabeth Warren said that it was obscene. According to the Institute of Policy Studies, Wall Street bonuses for 1,625,000 were $26,700,000,000 while 1,085,000 minimum wage earners earned $15,134,665,000.

Also, according to the left leaning IPS, the nation’s economy would receive more of a boost if the minimum wage was increased by $1.00 because minimum wage earners tend to spend all of their income whereas high income earners tend to save more and so that money does not boost the economy.

I’m not sure where IPS is coming from on this. When money is saved by putting it in a savings account or investing in the stock market, that money does go into the economy. It may not be used to purchase a fried apple pie at McDonalds to top off that burger, fries, and drink, but it is being used somewhere. Does the left not want us to save? We’ve been taught all of our lives to save money. We save money for that rainy day, we save money for our retirement, we save money for a new car or for a down payment on a house, etc. But now it seems that the left is inferring that we should not save money because money in savings accounts or other investments does not boost the economy to the extent that just spending it freely does.

Liberals have already trashed the work ethic with Nancy Pelosi telling folks to quit that corporate job they hate to write a book or do whatever they have dreams about, since providing for their health care is no longer an issue with the implementation of Obamacare. Could they now be trashing saving money and being thrifty? The more folks that don’t save mean more folks having nothing. That means more folks will be dependent on the government. The government can then provide for them according to their needs.

Elizabeth Warren is not the only one gnashing her teeth over this. All liberals seem ready to go out there and fight for the little guy. They want to rip those bonuses right out of the hands of the Wall Street folks and give that money to those folks making minimum wage. They consider the U.S. economy a zero-sum game where the pie that never grows should be evenly split.

To this conservative, I see what should be an incentive for minimum wage earners to work hard with the hopes of one day getting a large Wall Street bonus. I guess liberals take this snapshot and assume that those minimum wage earners are always going to be minimum wage earners. In other words they are too lazy, too stupid, or both to work hard and succeed. But, of course, liberals think we are all too stupid to run our lives and make decisions.

In ninth grade civics, I learned about the phrase, “From each according to his ability, to each according to his need.” This is a quote from Karl Marx and is considered the basic philosophy of Communism.

I’m seeing this philosophy ingrained in more and more liberals each day. Just listen to an Elizabeth Warren speech sometime. In addition to the liberals that serve in high government positions, many local or grass roots’ liberals are gravitating toward this also.

With the ending of the Cold War and the fall of the Soviet Union and Communism in the Eastern bloc countries, Communism isn’t the threat that it once was. Former Soviet Union Secretary General Nikita Khrushchev told our World War Two generation parents that their children would live under Communism. That turned out not to be the case, but I’m wondering if he should have said your grandchildren would be living under Communism.

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