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December 30, 2010


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On Obama's Latest Move

I'll squeeze this one in before Bill posts his next article:

When you get real desperate you go to the well and Obama is clearly desparate. with Repubs after his programs and taking the lead on job creation and debt reduction Obama empties the White House and moves directly to his cronies to help. He names William Daley as his new Chief of staff. Who is Daley?
1. The brother of the Chicago Mayor who served uninterrupted at the helm of Chicago and the Daley political machine since 1986. Rob Emmanuel goes for the Mayor's job and Daley's brother moves in to run the White House (staff).
2. Daley is a lawyer/Banker. Interesting that Daley did not leave the city of Chicago until he was 49 years old even going to college and Law School there. He first left Chicago in 1997 to go to DC.
3. Daley headed the Gore election campaign and the recount effort.
4. Daley was Secretary of Commerce under Clinton and drafted the NAFTA agreement.
5. Daley considers Kennedy his model politician.
6. Daley criticized the Catholic Church for opposing President Obama's speech at Notre Dame despite being Roman Catholic.
7. Daley currently serves as a Chairman in JP Morgan (since 1994).
8. Daley was Walter Mondale's strategy czar during his election campaign.

Clearly a move to bolster his base in the unions, the Chicago polical machine, the Democratic old guard and Wall Street banking, Obama, who just yesterday said he hoped the Republicans would hold off the start of the 2012 campaign until 2012 so they could focus on the nation's problems, is hoping to get a big jump on them kicking off his campaign today. The smoke and mirrors Chicago "politician" in the White House just working for America.

Never missing a beat Nancy Pelosi in defining the accomplishments of her tenure as speaker during which time the national debt increased $5T said ' we had it in our mind all the time to reduce the deficit--pay as you go". Forgive my French but Nancy's mind must rest somewhere in her ass. That is the same logic that the Pope must have thought she used when she decided to visit the Vatican and promote abortion.

The good news is that both Al Gore and Walter Mondale whose campaigns Daley strategized for----LOST!!!

hi flyover,

I'd love to tell you that the data from our search firm confirms that things are getting better. But, at this point it is inconclusive. After the first quarter of 2010 we began to see a 25% increase in interviews. That ,historically since 1774, has been a signal that the recession was coming to a close. This increase lasted 9 months and by the 3rd quarter hiring began to increase throughout most of the coastal areas of the country. Then as the 4th quarter came along and the election campaigns came about it all came to a halt. Interviews went back down again. By October hiring was down as well. In December, we began to see interviews begin to increase once again. Hiring is not yet back but interviewing continues to rise slightly. If it follows the normal pattern we should see hiring by spring or summer. The key here is IF it is normal. Nothing in this recession has been normal. The downturn in hiring continues to seem to be fueled by the sharp debate between the parties about what to do on job creation(stimulus/taxes), government spending and healthcare. Management confidence and consumer confidence has been low for a very long time and it is driven to a great extent by the attitude of the politicians. Without management confidence it is difficult to get hiring even when they are interviewing. But they have never been able to hold their reserves forever. Sooner or later the entraprenuer spirit drives them to take risks, invest and expand--that is the nature of the free enterprise system and the business leaders of this country. Unfortunately, for you, Flyover, I suspect the midwest will be one of the last places to benefit from the upturn when it comes because the manufacturing base is so weakened. And, so far down. Real estate ,too, will be hard pressed to roar back. But, I think in the not so distant future the economy will rebound if the parties do not begin the 2012 campaign too soon. But, as you can see in the news the battles are beginning: repubs will vote to repeal the HC bill and start regular hearings in the house on Obama excesses. They will also try to defund Obama's moves. The dems whose leadership of Pelosi, Reid,Hoyer and Obama still remains in place will defend their gains with whatever moves they have to in the Senate committees and with many moves around the courts and the congress using administrative regulations instead of bills. It will likely be a big chess game of power moves ending in many ties. Nothing done except endless debate and accusations. Conservatives against liberals. The same old 10% on the left versus 20% on the right while the 70% in the middle remain frustrated as little compromise is carried out. This can do nothing for confidence in America. But, the business people may be content with the political balance once again and go forward with their plans for growth knowing nothing big can happen. That's my best guess Flyover. Good luck out there.

Hope one of you can answer this question that has been bothering me. This was one of the biggest Christmas spending seasons in several years. The stock market is going up so people are feeling good. Have we quit thinking of the almost 10% of the population unemployed? Here in Ohio, my friends did not have "big" Christmas times. They don't own stock. They don't have jobs or the jobs they have are nothing compared to what they had. One guy is working at Wal-Mart, another at McDonalds and happy to get any work but it sure won't mean loads of Christmas gifts or stock purchases. You all talk about really big things but who is getting down and dirty trying to help us put gas in our cars, feed our kids, make our rent or house payments? We need jobs more than we need wind power or sun power. We don't worry that McDonalds is putting toys in happy meals like they do in California- we worry about jobs. Do any of you really believe the job situation will get better? Are we hoping for nothing?

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