bluntlysaid


McCain is nuts.
February 15, 2009, 11:25
Filed under: Market Trends, Politics

What is going on with this cnn.com article? 

How can he deny that Obama is doing things differently?  I’ve been alive for 27 years and I have NEVER seen a President be so transparent.  Every week, Obama puts a video up and updates everyone on what he thinks the government should accomplish.  He answers the press’ questions. He gets up there, and answers.  Bush did not do that, he had Tony Snow get up there and do that for him.  Obama went to Capitol Hill to talk to the Republicans. That is a HUGE sign of respect. Usually, the Hill comes to the White House…walking over there was a sign of respect, a signal that Obama was willing to negotiate.

And he DID negotiate. TONS of stuff was cut from the package, funding that even economists say should be in the package—like infusing cash to state governments to stimulate regional economies.

The Republicans are on the wrong side of this argument. Period.  They dragged their feet. They were obnoxiously stubborn. 

If the economy does improve, and the great minds of economics and finance attribute it to this stimulus plan…THEN I want to see zero hypocrisy.  It is clear that the Republicans are against this, which means they can take no credit.

Freaking nay-sayers.  DO something. How can they sit there and just drag their feet, in this environment…instead of DOING, instead of ACTING.

It really makes me angry.

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Perspective
February 12, 2009, 11:25
Filed under: Market Trends, Politics, Social Trends

This video of Ms. Henrietta Hughes’ question to President Obama breaks my heart. It absolutely breaks my heart.  Here I am, complaining…..when there are individuals like her that are homeless, have nowhere to sleep or bathe.

This video puts things into perspective.

There are naysayers out there claiming that this was staghed.  One cnn.com commentor said:

“How does a 61-year-old homeless woman who’s living in a pickup truck with her son JUST HAPPEN to get a ticket so she can VERY PUBLICALLY ask Prez. Obama for a HOUSE? Anyone? Who pushes her up on stage? She’s right at the front of the crowd. Did she just happen to get a seat there?” asked reader Erik E.

This recession HAS led to an increase in unemployment and HAS resulted in more homelessness. This woman must be desperate. I think it’s highly plausible that she waited in line, pushed her way to the front of the stage, and made sure she had a chance to ask her question.

Have a little compassion because it’s sad to see some of you be so cynical.



Hush Up Senator McCain
February 10, 2009, 11:25
Filed under: Market Trends, Politics

I’m sorry to break it to you, but you lost the Presidential Election. I am relieved for that, because it seems like your incapacity to view problems from a perspective that differs from yours REALLY would have hindered your ability to combat this recession.

You have called this bailout Generational Theft.  Interesting. Have you stopped to think what would happen if the USA mimiced the moves of Japan in the 90’s and took no aggressive course of action to realize losses, stimulate demand, and move on? The annual loss of our GDP would QUICKLY exceed the $800 billion recovery package. The annual losses that your course of inaction would bring to us would be more than $1 trillion, more than $2 trillion, more than any country has ever seen before.

Now, I am no expert but I would rather spend $800 billion today and minimize my losses then live in an economy worth TRILLIONS less.

Taking no action today is criminial irresponsibility. It robs future generations of employment, stability, and a whole plethora of other benefits derived from a strong economy.  I thank God that you are not leading the country right now.

See a problem. Fix a problem….This is a simple line of reasoning that your brain seems to miss.

PS. I love how spending billions upon billions in Iraq is “A-Okay” but spending billions to help re-start our economy is bad.  You are not an expert. Lawrence, Bernanke, Paulson and Geithner are experts.  Sir, you are on the wrong side of this argument…I’d appreciate it if you would stop dragging your feet.



Shut Up Senator Shelby
February 9, 2009, 11:25
Filed under: Market Trends, Politics

Hush now. Who are you to say that this stimulus package will not work?  I think that tax cuts are great, which is why the stimulus package is doling out a hefty amount of tax cuts. However, tax cuts are not enough.

Consumers are acting IRRATIONAL right now. So are lending institutions.  We need concentrated spending to shock the economy into production. We need demand for industrial goods and since consumers are too skittish to buy things right now, we need the government to purchase enough goods to bring some continuity back into our lives.

Shelby, you are going against LAWRENCE, BERNANKE, PAULSON and a bunch of other VERY reputable minds in finance and economics when you say this stimulas package is doomed.

Stop being a god damned nay-sayer and start DOING something about this situation. Or.Get.Out.



Damn Politics.
January 29, 2009, 11:25
Filed under: Market Trends, Politics

This on the WSJ:

The package, which would cost more than the entire Iraq War, would reverse the Bush administration’s approach to boosting the economy. That approach relied heavily on tax cuts that tended to put money in the pockets of middle-class and more affluent Americans. The $275 billion in tax relief offered in the stimulus package focuses more on lower-income families. It also includes business incentives to spur job creation and a $500 payroll tax holiday for workers.

The 244-188 vote was not what Mr. Obama had hoped for. A week of presidential wooing — including a visit to the Capitol, a return visit to the White House by moderate House Republicans and a bipartisan cocktail party Wednesday night — did not yield a single Republican vote. The president also lost 11 Democrats.

I had many reactions to these two paragarphs. I’ll break these reactions down.

  • In less than 1 month in government, Obama will have authorized an expenditure that exceeds the cost of the Iraq war.That is insane. However, as someone who studied economics and has worked in finance I know that the capital markets are paralyzed right now, a condition that is trickling down to every person in this country.  Something must be done, and injecting enough cash in the system may stimulate liquidity again.  $800 billion is a lot of money, but nothing else seems to work.  We’ll judge this action by its results.  I can say that so far, the money spent in Iraq has been a total waste of money. Lets hope this stimulus package fares better—my sense is that it will. I approve, but only because I don’t see a better alternative.
  • The relief concentrates on lower income individuals WHILE keeping the tax cuts for the upper-middle class and wealthy income brackets.  This makes sense. Ideally, we’d give tax cuts to everyone and try to stimulate spending that way. However, it seems like that has not worked in the past….a new approach is necessary.  The small business incentives and $500 payroll tax holiday is a new approach. I approve.
  • Rebpublicans shunned the plan and 11 Democrats voted against the package. WTF is wrong with these people!!!!!  Are they really against stimulating the economy? Would they rather sit tight, bite their nails, and hope that this all goes away? Guess what, IT WILL NOT go away on its own.  Look at Japan in the 90s…really, look at Japan! They faced a similar crisis and instead of swallowing the bitter medicine, recognize losses, and move on they sat their chewing their nails waiting for it all to disappear. Japanese banks never realized any losses because their accounting system was “book value” and not “mark-to-market.” Then, the Japanese governments incentivized the banking system to keep giving loans to “zombie” companies—-give loans to businesses that didn’t deserve loans in order to keep these companies from defaulting on prior obligations.  The US has RECOGNIZED  its losses.  Banks HAVE failed. And the car industry received a loan with MAJOR stipulations.  There is no free ride going on here, failure is an option.  However, this alone has not fixed the problem which means that more must be done to stimulate demand.  That is where the new package comes in. WHY would these 11 Democrats and Republicans be against stimulating demand? Do they have a better alternative????? I REJECT ALL POLITICIANS THAT DID NOT SUPPORT THE PLAN (list of NAY votes below).
  • NOTE: Remember the TARP and how it failed to pass the fist time around. Do you know why? Was it that the plan lacked enough stipulations, did have enough order? NO.  It didnt’ pass because there wasn’t enough pork included . It did pass one week later with $120billion more pork in it.  Thanks Republicans…thanks for looking out for the greater good. I REJECT that behavior .

Again, history will prove whether Obama’s plan was a good thing or a bad thing. Those that did not vote for it on on record below.  We will hold you accountable if you were wrong. Roll call vote info from www.clerk.house.gov:

  Yeas Nays PRES NV
Democratic 244 11    
Republican   177   1
Independent        
TOTALS 244 188   1

 

—- NAYS    188 —

Aderholt
Akin
Alexander
Austria
Bachmann
Bachus
Barrett (SC)
Bartlett
Barton (TX)
Biggert
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blunt
Boehner
Bonner
Bono Mack
Boozman
Boustany
Boyd
Brady (TX)
Bright
Broun (GA)
Brown (SC)
Buchanan
Burgess
Burton (IN)
Buyer
Calvert
Camp
Campbell
Cantor
Cao
Capito
Carter
Cassidy
Castle
Chaffetz
Coble
Coffman (CO)
Cole
Conaway
Cooper
Crenshaw
Culberson
Davis (KY)
Deal (GA)
Dent
Diaz-Balart, L.
Diaz-Balart, M.
Dreier
Duncan
Ehlers
Ellsworth
Emerson
Fallin
Flake
Fleming
Forbes
Fortenberry
Foxx
Franks (AZ)
Frelinghuysen
Gallegly
Garrett (NJ)
Gerlach
Gingrey (GA)
Gohmert
Goodlatte
Granger
Graves
Griffith
Guthrie
Hall (TX)
Harper
Hastings (WA)
Heller
Hensarling
Herger
Hoekstra
Hunter
Inglis
Issa
Jenkins
Johnson (IL)
Johnson, Sam
Jones
Jordan (OH)
Kanjorski
King (IA)
King (NY)
Kingston
Kirk
Kline (MN)
Kratovil
Lamborn
Lance
Latham
LaTourette
Latta
Lee (NY)
Lewis (CA)
Linder
LoBiondo
Lucas
Luetkemeyer
Lummis
Lungren, Daniel E.
Mack
Manzullo
Marchant
McCarthy (CA)
McCaul
McClintock
McCotter
McHenry
McHugh
McKeon
McMorris Rodgers
Mica
Miller (FL)
Miller (MI)
Miller, Gary
Minnick
Moran (KS)
Murphy, Tim
Myrick
Neugebauer
Nunes
Olson
Paul
Paulsen
Pence
Peterson
Petri
Pitts
Platts
Poe (TX)
Posey
Price (GA)
Putnam
Radanovich
Rehberg
Reichert
Roe (TN)
Rogers (AL)
Rogers (KY)
Rogers (MI)
Rohrabacher
Rooney
Ros-Lehtinen
Roskam
Royce
Ryan (WI)
Scalise
Schmidt
Schock
Sensenbrenner
Sessions
Shadegg
Shimkus
Shuler
Shuster
Simpson
Smith (NE)
Smith (NJ)
Smith (TX)
Souder
Stearns
Sullivan
Taylor
Terry
Thompson (PA)
Thornberry
Tiahrt
Tiberi
Turner
Upton
Walden
Wamp
Westmoreland
Whitfield
Wilson (SC)
Wittman
Wolf
Young (AK)
Young (FL)



The Vehicle Fuel Efficiency Conundrum
January 27, 2009, 11:25
Filed under: Market Trends, Politics

The sky rocket gas prices we saw last summer made things very difficult for many people.  $5/gallon glass implied eating out less, filling up just one car, car pooling, etc.  Public transportation saw increased usage and people started to see the bottom line value of turning green.

Setting more aggressive fuel efficiency standards for cars will help turn this country green, will save money in the long run, and will definitely reduce the risks of global warming.  Obama’s executive order allowing states to set their own fuel efficiency standard is a step in that direction.

States like that we are a federation, they like having control over things like this…on the other hand, fi each state mandates a different efficiency standard then this promising order will instead turn into a tangled pile of mush.

This is why California will likely play a key role in defining these standards—California pick a standard, and since its the largest state we have (36 million) then the sheer consumer demand will serve as an anchor. Other states will follow, and hopefully we’ll have only 2 efficiency standard for the whole country—old standard and new standard. I assume the new standsard will weed the old one out, eventually.

Problem: The car companies are in trouble right now and asking them to deal with multiple standards is going to create even more problems.  Rebuttals:

  • Aren’t these companies supposed to be moving towards greener technology either way?
  • Why are they fighting efficiency?
  • I would assume that the standards do not have to be met immediately, there is time and the car companies can wait for the markets to improve.

Others say that Obama’s executive order is another example of “government knows best.”  BS. The whole point is that Obama has de-regulated the industry by allowing individual states to weigh in. He just made the Federal Government less relevant to this issue and left the power in the hands of more local government.  The big government argument falls flat on its face.

Overall, I think the executive order is a positive change but it must be structured appropriately so that the car companies do not fail as a result of the stricter standards (massive unemployment, etc).

The administration must (and will) strike a balance between our green aspirations and economic realities.



recovery.gov
January 24, 2009, 11:25
Filed under: Market Trends, MBA, Politics

I am impressed.  The Government of the United States grabbed technology by the horns and is using it to increase transperency and efficiency as the country faces its biggest economic crisis in a generation.  That sounds like Obama-speak, but it’s true.

Check out President Obama’s weekend address for Jan 24th 2008 and then go here so see the foundation of how Obama’s administration will ensure that this $800 billion recovery package is executed with transperency and efficiency.

I.Am.Impressed.

I want to outline his plan and figure out how I can get myself into a position that’s going to grow as the recovery plan is executed. For example, should I be looking for a summer internship in GE’s green groups since it is likely they will have to supply the green technology to “rehab” all of our government buildings? Should I start familiarizing mysef with the energy world and try to work somewhere that will have a say on how this new electricity grid is built out?  How can I better position myself in finance given the changes Obama’s is likely to apply to the financial markets????

So many questions. So much hope. And so many sources of information!!! 

I have never felt so connected to an administration.