Mobs
Mobs are setting the tone for our economic future if you listen to their bombastic rhetoric. If I were making the decision on how to control this rabble, I would take strong measures against them. How about water, tear gas and militia with clubs and rubber bullets? Why play games with these radical half-wits? The only way if left alone, would be snow storms and freezing weather. Then these spoiled demonstrators would have to ask mommy and daddy for overcoats and boots. Obama is supporting these kooks who blame banks for our financial woes. You don't see any “sandwich boards” with Fanny and Freddy who are the real cause of our housing crisis. Banks have to be free in order for the economy to grow and prosper and the anti-business left wing continues to blame corporations and Wall Street for whatever they feel are injustices. Who supplies capital for corporations to grow and who hires employees and provides benefits for the large number of those with good paying jobs? Obama and his advisors are attempting to convert our capitalistic economy to a socialistic government controlled economy. Now Harry Reid wants to instate a 5% tax on millionaires and billionaires in Obama’s “jobs bill”which is simply a plan to redistribute wealth from those who know how to create it to those who know how to take it away from someone else.
The news media and many financial writers are quite bearish on the stock market. Stocks have under performed the bond market. Before this year, the last time bonds outperformed stocks was in 2007 and 2008. A recession began at the tail end of the first of those years. Prior to that bonds topped stocks in 2005. And they also beat stocks in 2001 and 2002.
However when stocks rebound it is usually with a vengeance. In the 21 years that stocks returned to out performance, their total return as a group averaged at least 20% in 15 of those years. [Source: IBD October 7, 2011]. The lesson is do not give up on stocks. It is difficult to be positive these days with the juvenile economic policies of Obama and company but hopefully help is on the way with a change in the political scene.
It is hard to believe, but that famous economist, Barbara Boxer stated that the EPA rules not only protect the environment but they are an engine of economic growth. [IBD October 11 2011] Also stating that 54,000 jobs will result from tougher fuel economy standards. Obama has overseen the fastest growth in new federal rules-75 new major regulations in his first 26 months in office at a cost of over $40 billion, according to the Heritage Foundation. What do we get for these regulations-sluggish growth, high unemployment and high prices for the U.S consumer.
I heard our local parish priest speak of the homeless and hungry farm workers without jobs and asking for us contribute to these folks who needed our help. Let us analyze the cause of their plight. The California legislature led by liberal Democrats would not permit our farmers to receive water for their crops because of a fish that was protected and given priority --- a fish that is not edible and not essential to our economy. The fact that many farm workers had no jobs nor food for their families made no difference to those elite politicians in the Bay Area. Our churches did our best to provide food and other essentials for these poor families. When the pulpits are used to comment on why people are starving, they should mention the real culprits causing the problem-politicians who do not like agriculture and have no concern for those bearing the brunt of the hungry and indigent.
Gary E. Marsella