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January 03, 2013

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A LIGHT IN THE TUNNEL; and it's not a train. It's a FORD.

FORD DOES IT RIGHT: and this morning as a statement of real capitalism at work FORD doubled it's dividend to shareholders. Now up to around 3% --twice US Treasury's.

THE NEW SOCIALIST GM--Proud to be back. A few months ago the Feds sold 22M shares of GM raising the breakeven for Tax payers from $57 to $88/share. Now at $30 the Fed indicates they will dump the rest at a $58 per share loss to taxpayers. The CEO of GM proudly takes credit for the fantastic performance of GM this year. Let's see with the help of unbelievable tax credits he sold 22,000 Volts. Chevy sold 2/3's of their cars overseas. GM's profits are mostly the result of high truck and SUV sales--the favorite vehicles of Americans. The target of the environmentalists. All it took for this to occur? Rape of the stockholders old and new. Old got nothing for their shares. New are sitting with a $2/share loss while the US taxpayers are now taking a $58/share bath. Bond holders were dumped from the creditors list while the labor unions remained vested. GM lost 1.6% of American market share this year some due to the return of the Japanese carmakers but now sitting at the lowest American market share since 1930. GM will release 30 new models OVERSEAS this year. While pulling back some in Europe they are aggressively entering more foreign markets. Japan and China would be proud of the manner in which the President has subsidized the cannibalism of foreign markets with taxpayer credits and bankruptcy actions against GM creditors and shareholders.

Romney has to be scratching his head wondering how he got discredited for saying he would have taken GM through a structured bankruptcy rather than a taxpayer bailout. With the printing presses running and no need to balance the books the President should use the same strategy on US Steel, Boeing, Dow Chemical, etc. How much American debt can the Fed hold before someone figures out that debt will ultimatley be defaulted on?

LET'S INSIST ON AT LEAST ONE TRANSPARENCY,TERMINOLOGY. Somehow,someone please transmit to these WH 'bunglers' that Social Security and Medicare be referred to as EARNED BENEFITS. The remaining so called 'poverty' (guaranteed)programs referred to as 'The Social Safety Net'..i.e. WORKFARE, as it was intended and successfully demonstrated. The catch-all use of the ENTITLEMENT term simply suggests eternal political entitlemnt to our bank accounts.

HANG ON--now that the election is over you would think the politics would end for a while and our elected officials would do their work. All during the election we were told the economy is getting better and all we needed was some certainty after the election. Beginning with the positive of Black Friday we were encouraged. Then we watch our leaderless representatives fail to end the fiscal cliff, fail to make any headway against the debt or entitlement and tax reform we heard debated vigorously throughout the campaign. 4th Quarter sales stalled. Layoffs amoung banks began to be announced. Now the lame duck President begins his assault on the promises he made.

First he will likely kick the far left in the butt by approving the Keystone Pipeline extension.

Second, he has followed through on his tax the rich pledge but at the same time he has levied tax increases on all Americans who draw a paycheck with a renewal of the payroll tax rate.

Third, he now says the key spending cuts he alluded to in the campaign at a 3 to 1 on revenues rate were actually already the spending cuts we agreed to a year earlier and no spending cuts are on the table without new TAXES.

Fourth, the new tax laws had virtually no reform.

Fifth in preparation for his tough stance on Iran he now nominates a REPUBLICAN for Secretary of Defense. This Senator voted against sanctions on Iran. In fairness however his explanation is that he voted against them because they were unilateral sanctions. Perhaps a valid point.

Sixth: entitlement reform seems to be off the table at least for the moment in perhaps the same vein as the refusal to negotiate on the debt ceiling.

In the mode of full disclosure I approve of Keystone as well as the return of payroll taxes. My problem is how easy it is to msrepresent the intentions to win an election. I worry that Republicans are eing set up for the fall when the President backs down on Iran, reduces his support for Isreal and withdraws from Afghanistan. Maybe even the weak stance on Syria.

But, the biggest worry we face is the ECONOMY. Throughout the 4th quarter interviewing numbers delined dramatically. While the seasonal hiring seemed to support a growing economy we are now seeing the weakening economic numbers as Wall Street enters the earnings season. Members of the Fed seem to be beginning to questioning if we should actually just print money to pay our bills. Will Bernanke face head winds in his all out assault on the value of the dollar? Hang On.

DATELINE; COLUMBIA S.C. STATEHOUSE STEPS: "Nullification" Rallye. State Rep Chomley , the sponsor of the Bill to Nullify Obamacare is holding a press conference at this hour. "Nullification" ,if passed is slated also as a future tool to block Constitutionally inappropriate federal actions. Several States have already inquired as to procedures for implementation.
Constitutionally, the States are the original last line of defense in harnessing a reckless and run-away federal government.
At last, a firm stance against this THUG styled incompetant government.

A 'HINT' AT OUR FUTURE PREPAREDNESS. A local small (in top 100 small colleges)College here, searching new President. Programs of study include: pre med & pre-law curriculuums, as well as some science degree programs .
It's fairly common knowledge, how high an unemployment rate humanities and art students suffer (50%). In fact, just this fall the College itself held a 3 hour symposium on 'Student Loan' limits. Specifically, Congress is imposing loan limits on many in- appropriate low employment study sectors. So what does their Search Committee propose as their 'lead' ? "Looking for Leader who will advance their Liberal Arts programs"; without any mention whatsoever toward more productive areas of STUDY.
Not quite the 'end of time' as we know it but another example of how this failed Election has spread it's irrelevancy to our economic necessities.

'ET TU HARVARD' ? "Even Obama's Left-Wing Harvard Professor has had enough."
from 'Monnbattery' ju 2012:"By now, not even a hard left Harvard professor could fail to understand that for all his class warfare rhetoric, the oligarchical collectivist Barack Hussein Obama is no friend of the poor. Roberto Unger, who babysat I mean taught the M----rian M-----t in his Harvard days and who helped out during the 2008 campaign, does not want seconds regarding Hopey Change:"
Lanny Davis, soldierly appearing on FOX, could not bring himself to the defense of this travesty any longer. With these 'cracks' appearing at the top; the true patriots of the Democratic party may do what the Republican Party refused to take up.

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