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April 15, 2010

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Havn't ranted for a while so it must be time to summarize the things that appear to be being ignored:

The second wave of the stimulus money has not occurred and the result is that infrastructure namely roads and bridges are projects that are going unfunded. Remember that 97% of the state of Virginia stimulus money went to unemployment benefits and entitlement programs. If that is true for most states and I beleve it is then we now know why the states are in the process of laying of hundreds of thousands of teachers. The second shoe of this recession may be in the public sector at the state and local level while the Feds furiously hire. So the wonderful "education President" is watching the teacher force be devastated, classroom sizes increase while they use stimulus money to extend unemployemnt benefits and welfare benefits.And, the teachers are a UNION. Getting what you paid your union dues for and your campaign contributions now teachers?

Unemployment growth is still masked by government hiring of permaneant and temporary (census) workers.

Commericial real estate clients of ours are beginning to lay off their business development staff becaue they say that there is no business to be won so no need to pay anyone to look for it. And, if they are not Union they are not eligible for many projects anyway. In DC the new tenant on the block is the GSA grabbing up space.

The real "National Security" Obama has begun to reappear as he has announced we are on schedule to withdraw from Afghanistan only 4 month's into his surge.
We won the war already?? In actuality it is becoming more apparent that the US has decided that there is no problem with the Afghanistan farmers growing poppy and we are actually running off the Taliban (or more likely forcing them underground) protecting their crops for the opium dealers to buy directly. So it is my guess that our President has decided that the corrupt government is too corrupt to bother to change and we are falling back to the Pakistan "you better protect your turf" policy and resigned to fly the drones to keep Al Queda in their caves leaving Karzid to become a Taliban surragate eventually.

Consumer borrowing is down 3.7% another indication theat the banks are reeling in the cedit card debt and dampening the ability of consumers to buy. This is not a healthy sign for the economy. rule number one in Business school for healthy sales is available credit.

Small businesses are still hesitant to hire without any sales increases and reduced captial to finance expansions. We now have McD's advertising that 1 out of 12 Americans were trained by McD. And, Walmart is the largest employer in the world. If these are the two superstar large company employers in America then what does that say about the future of our chidren and grand children's jobs?
Get a PHD and be a Walmart greeter or a McD's drive in window order taker?

The banks are reporting record profits. They take government money from the Fed at 0% interest and buy bonds that pay 2-3%. Why should they lend money to businesses in America?

Obama made $5.5M last year and gave $375,000 to charity. Under the premise that you only need $250,000 to be rich you would think he would have given away a few million. And, Biden ? He gave about $5,000 to charity. (Remember that Obama made $4M last year when he ran for President.) So he has made $9.9M in the last two years. No wonder he doesn't think a little higher taxes would hurt.

On the good news side now that the earthquakes have opened the vents in the earth the volcanes are beginning to erupt. Good news you say? Yes, the clouds that will circle the earth for months or years will cool the earth thus offsetting the climate warming and create global cooling. Then we'll fund CO2 generation plants to heat the earth and Al Gore will make another $100M. (The last time the volcano in Iceland erupted it went on for 5 years. Don't plan to visit Europe by air anytime soon.)

Now I feel better---I have given all my worries to you. Except the coming surge in debt service and in September when the Healthcare costs hit us and then next year when GWB's tax cuts expire. Oh and then there's the energy bill and the VAT to come.

I can't wait to pass along my next thoughts to you, my friends. Please vote in November.

I'm hoping all of you financial types can help me out. I've been studying the VAT because of a high school friend who lives in Birmingham, UK. He said that the tax is 17.5% in the UK and most things have this tax. The tax started way lower but because it is hidden, the government can raise it wheneer they want. Foods that are not processed don't have the tax but, like me, we grew up on beer and nuts and if he wants nuts he pays an extra 17.5% unless he wants nut that don't have salt or are not roasted. He hates 'em. Stuff made in the UK (which according to him is not very much anymore) is priced too high because of this hidden tax so people buy a lot of stuff made in China or Mexico or some other country like that. He has buddies who used to own small manufacturing companies but they have been driven out of business because of the VAT. So...if we put in the VAT in the US, how is the small guy going to make it? And you have been saying it is the small guy that does the hiring.

The plumbing business is picking up but the guys who were laid off are still off. Rumor is they will never get a job in those companies because they are now replaced with computers. I don't have money in the stock market (no way to afford that) so can't say our income is growing. Heard on the radio today that there is some country in the EU who is deciding that a vacation is now a right so they are going to subsidize people who can't afford a vacation. Can't believe the stupidity that is going on there and here. Balance your bloody budget! Take care of your family. Don't look to the government to bail you out. Help your neighbor in any way you can.

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