THE ENTERPRISE--A PICTURE IS WORTH A THOUSAND WORDS
BUT I WANT TO START WITH SOME WORDS THAT DO NOT PAINT A PRETTY PICTURE:
- The US economy is sinking into the summer doldrums again, after being pumped up artificially by government infusions of borrowed money in each of the past three years.
- Following the recent dismal jobs report, consumer confidence dropped 5 points; investor confidence dropped 8 points, and the stock markets dropped dramatically.
- Consumer spending is up but wages are down. That means they are tapping into whatever small reserves they built up--or using credit/debt.
- Commodity prices are in free fall, due to fear of the imminent recession in Europe, major slowdowns in India and China, and the apparent leadership malaise in the US.
- The OECD predicts a severe recession for Europe; perhaps growth dropping by -2%, and no solution in sight. (And this is the model Obama is following?)
- Auto sales are up--probably because consumers have been putting them off, and cars are older than ever, with used car prices turning up (people trying to save money on cars?)
- Gas prices are still above $3.50 per gal, and premium flirts with $4.00/gallon in many places. A $50 fill-up is not unusual.
- JPMorgan, the vaunted mega-bank, loses $2 billion or more because of largely just a couple of rogue traders, and inadequate management oversight. (Regulation would NOT have stopped this. There is no way to regulate stupid risk taking.)
- Facebook's IPO seemed too good to be true. It was too good to be true. Now it is being priced down toward what might have been the true value (deja vu the dot.com fiasco).
- HP is lost, and for now, laying off 27,000 people to save money while it searches for its prior heritage of innovation, and success. Its board, over the past few years, has been a poster child for a dysfunctional board.
- Bond yields and interest rates are dragging along at record lows, making the plight of fixed income seniors and retirees tougher than ever.
- The 8.2% unemployment rate is a statisticians lie. When people stop looking for more than 4 weeks they are no longer counted. The true unemployment rate in the US is 14-15% IF anyone could ever count them all--and there are some that say the number of "employable people" in the US who do not have jobs (who may or may not want jobs) is closer to 75-80 million. If that were true, it would be 1 in 4 Americans.
- US President Barack Obama is clueless... and helpless... in dealing with the USA's economic problems. Everything he is inclined to do makes the problem worse, and will make it harder to fix, even if he doesn't get reelected. All Obama knows how to do is tax, borrow and spend, and make campaign speeches in which he criticizes and blames everyone else and lies about how bad things really are--because if he told the truth--he'd have zero chance of reelection.
HOW ARE PRESIDENT OBAMA AND HIS DEMOCRATIC CONGRESSIONAL COLLEAGUES DOING?
ON JOBS
DID HE SURROUND HIMSELF WITH PEOPLE WHO KNEW HOW BUSINESS AND JOBS ARE CREATED?
HOW IS HIS PRESIDENCY DOING ON UNEMPLOYMENT COMPARED TO THE PRIOR TWO PRESIDENTS?
THE CHART BELOW SHOWS THE BUDGETS PASSED BY OBAMA AND DEMOCRATIC CONGRESS LEADERS
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(This is Blank Page is no mistake…there has been no budget passed for 3-½ years!)
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BUT HE SAYS "BUSH DID IT"--CREATED THIS MASSIVE NATIONAL DEBT (AND BUDGET DEFICIT)
BUT THERE IS STILL A LOT WE DON'T KNOW ABOUT HIM--AND MAYBE NEVER WILL KNOW!
I THINK YOU GET THE MESSAGE
Virtually everything done by the Obama presidency has been bad for business and the economy. The recovery to date has been fueled only by natural causes that bring about recoveries--unless government meddling has inhibited them--which is often.
THERE ARE POLLS, LOTS OF THEM, BUT THEY ARE NOT ALL CREATED EQUAL…NOT EVEN CLOSE.
I believe Rasmussen Reports is one of the best "frequent" polling organizations around. For one thing, it polls likely voters, a much more reliable indicator than polling registered voters (many of whom do not vote), or the public at large, who may or may not be voters, or even registered.
The Memorial Day Weekend summary by Rasmussen was particularly good, and the link to it is right here. Check it out. Subscription to this email update is free of charge, and very, very informative. http://www.rasmussenreports.com/public_content/politics/weekly_updates/what_they_told_us_reviewing_last_week_s_key_polls I have no relationship with Rasmussen, but I like to share the best information I can in THE ENTERPRISE.
For a great summary of all the political polls, go see this site : http://www.realclearpolitics.com
THAT'S ENOUGH DIRTY PICTURES FOR ONE WEEK.
SORRY, BUT SOMEBODY HAS TO HAMMER HOME THE FACTS ABOUT HOW BAD THINGS ARE--AND WHY.
BEST, JOHN
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GET HOPE IS NOT A STRATEGY IN BOOK OR KINDLE VERSION AT:
OR OTHER EBOOK FORMATS AT:
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AND GO SEE THE WEB SITE to see the Chapter titles and much more information:
Author of the Award Winner: THE COMPLEXITY CRISIS, and the exciting novel: THE CHINESE CONSPIRACY. Come see my blog posts on Forbes.com
John L. Mariotti, President & CEO, The Enterprise Group, http://www.mariotti.net, http://mariotti.blogs.com/my_weblog/
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