Investment analyst John Rutledge on Nov. 22 offered “Forbes on Fox” the most succinct argument in favor of divided government I’ve heard: if a mugger is chasing you, you hope he’s slow. President Obama, the Pelosians and other Dems in full, unchecked control of the White House and both houses of Congress is the equivalent of a very, very speedy mugger closing in on you in a long, narrow alley with no escape in sight. We are about to experience purportedly ben evolent dictatorship, and it’s hard to like our chances. The problem with ben evolent dictatorship is there seem... continue reading
When Barack Obama touted his plan to “spread the wealth around,” conservatives worried about the creep of Socialism – or Socialist creeps – coming to Washington. But as millions of zealous Obama worshippers prepare to invade the nation’s capital for his Jan. 20 inauguration, it’s obvious the free market still rules. The Obama team is already helping small businesses, homeowners, hotels, airlines and limousine companies. Their frenzy has generated a huge market for anything related to the liberal-elect, from T-shirts, buttons, coins and posters to Christmas ornaments and a “6" Action Figure toy doll.” A quick search of the online... continue reading
Have you noticed that the media largely fail to connect the dots between related events? In all the reporting on the auto industry’s ills, little is said about the government as the chief cause. Politicians holler at auto executives in hearings and beat their chests in interviews, but never mention Corporate Average Fuel Economy (CAFE) mileage standards. Just like unaffordable union contracts, incredibly mentioned often by the same politicians who now wish to give the unions expanded, unchecked power to wreak the same destruction in other industries via the Employee Free Choice Act (which steals away free choice). In all... continue reading
The best defense, the saying goes, is a good offense. In the case of the Big Three automakers, their offense is defense. Chrysler, GM and Ford are pushing for a $25-billion bridge loan by claiming the collapse of their industry would harm national security. That was the theme the car-making CEOs brought with them to Washington to beg for help – pay now or pay more later and put the nation at risk as well. Chrysler’s chief executive, Robert Nardelli, told the Senate Banking Committee that crippling the auto industry “would undermine our nation’s ability to respond to military challenges... continue reading
The news media have, for two weeks, endlessly expressed outrage at AIG’s spending several hundred thousand dollars on a sales conference held at a Phoenix resort – after getting federal bailout billions. The impression conveyed has been that AIG executives took money from us taxpayers and immediately turned around and blew it on wine, women and song, hanging out at a hoity-toity resort, wallowing in caviar on our dime. As usual, the reporting is grossly inaccurate. And the posturing politicians demanding tighter government watchdogging and control over how the bailout dollars invested in AIG and countless other companies is spent... continue reading
When America battled for economic supremacy against Taiwan , Japan , Germany and others, many of us adopted a patriotic battle cry. “Buy American!” we exclaimed and many of us did. In 2008 we are still buying American, but that phrase has taken on a whole new meaning. We don’t just buy TVs, or soap or cars from U.S. companies. We now buy the companies themselves. And the many of our so-called “leaders” in Washington want us to buy even more. Bailout fever has become a full-fledged epidemic inside Washington and the list of bailouts is still growing. Now the... continue reading
If there is a silver lining in every cloud, then the silver lining in the current economic crises (plural!) and the fast heating up international challenges may be a dampening of the new president’s grand ambitions for wealth confiscation. That could rein in his meddling in every industry, throw-money-at-every-problem spending, and an agenda so epic it must have even Marx, Lenin and Mao laughing in their graves. Given the current conditions, perhaps those of us who find the true Obama a threat to business will suffer far less of his worst than we fear. And those who’ve gone ga-ga over... continue reading
Fair’s fair, right? Not always – especially in the new America that dawns January 20. That’s when the Obama administration takes over and they have bold plans for making America a fairer place to be. The Democratic platform Obama supports has 30 separate references to fairness in some form or another. Obama wants a “fair economy,” “fair trade,” women to get “fair pay,” to make “sure that workers get their fair share,” and to restore “fairness to our tax code.” These items have nothing at all to do with being fair. They are Orwellian doublespeak like: “War is peace. Freedom... continue reading
For two weeks, I have watched the talking heads of financial news – on CNBC, Fox Business, even Bloomberg – discussing the evolving GM-Chrysler merger to be funded by the federal government. I am astounded they have all missed the story or chosen not to comment on it. Of course, I expect the regular, mainstream media to bungle this story; they can barely spell ‘business’ let alone do any in-depth reporting about it. But you’d think the financial wizards on the business channels might get it right. As far as I can tell, they haven’t. So here it is: The... continue reading
The election isn’t even over, but Americans have made their opinions known. The biggest loser of the 2008 campaign is the mainstream media. In poll after poll, voters express anger and dissatisfaction at journalists’ blatantly prObama position. While the media might get their wish and help elect Barack Obama president, readership, viewership and ad dollars are crashing at the same time. Journalists will cling to hopes that this isn’t cause and effect. They are correct in saying technology in partially to blame. But that discounts their immense failure of the public trust. Washington Post ombudsman Deborah Howell called a similar... continue reading