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January 30, 2014

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The newest result of legal POT:

“Everyone in the industry is having nightmares,” says Michael Elliot, executive director of the Marijuana Industry Group, a powerful young lobby in Colorado. “You hit a 7-Eleven, you’ll get 20 bucks. You hit a dispensary, you’ll get $300,000 on a good day,” adds Mitch Morrissey, District Attorney for Denver. “It’s only a matter of time before someone gets shot.”

JOBS IN AMERICA. Remember when we were being sold all the benefits of Obamacare? Jobs, Jobs, Jobs. Government announced today that the Affordable Care Act will cost Americans 2,000,000 full time jobs. Incredible. And, lower costs? That was smoke and mirrors. Higher deductibles and higher out of pocket as well as premiums. And, universal coverage? Not by a long shot.

CAN YOU EXPLAIN THIS? The FDA under the Obama administration has launched a new scary, tough anti smoking campaign. No don't get me wrong I HATE smoking. So, I am for huge taxes on it and making it extinct. However, this is the same administration and party that has decriminalized POT. Most people, the last time I looked, SMOKE pot and they certainly INHALE it. Isn't parenting hard enough without making POT SMOKING legal? Let's see: "Son, I don't want you to smoke cigarettes because it will KILL you (AND RAISE MY HEALTHCARE COSTS) but it is okay if you SMOKE POT. " On the other side of the room we have the military ,police, fire fighters at the least who cannot SMOKE POT but surely the rest of us employers will soon be barred from screening for pot users among our employees. Do you want your brain surgeon smoking a joint between operations? Or the guy fixing your car brakes? I'm a bit confused.

Economic repeat? In 2011 the White house and the Fed were focused on the improving economy and all seemed well. Immediately, the administration started on a move to garner more resources for their wealth redistribution agenda and increased not only payroll taxes but personal income taxes as well. Immediately, the country went into another economic nose dive and the Fed responded with the now infamous $85B money printing program they are now trying to unwind. Meanwhile back at the income redistribution program headquarters the costs of healthcare renewals began to hit small businesses and consumers in October of 2013 just in time to impact the holiday sales. At the same time we decided to begin to slow the printing of money. And, of course the higher withholding of personal income taxes were taking their toll. Now the actual paying of the income taxes occurs as we head toward April and consumers are cutting back. In fact they have been cutting back for at least 9 months. So now the numbers of everything the analyst and feds measure are coming out mixed to down. And, next to last to notice: the stock market is beginning to get the hint. Of course it is now known that the last to the party in January were the retail investors who seem to love to buy at the peak. So, is the economy doing another nose dive? Or, is this all the weather? Is it selling to take gains to raise cash for taxes? Keep in mind that the White House just keeps coming back for more. And, with potential changes coming in 2014 they are in a hurry.

THE NEW OBAMA AMERICA---Walmart warned today citing the reduction in FOOD STAMP buyers. So now we have our major retailers focuses on food stamp consumers, unemployment benefit recipients, minimum wage earners, etc. The government has printed $4T in money to hold off a recession that needed to happen, needed to last the normal 18 months and that printing has done little except drive up the prices of stocks in the Fortune 1000 making profits by cutting costs and moving operations overseas. This year 50% of the S&P companies have hit their revenue targets--50% but 60% have hit their profit targets. Does that make sense in an economy that has been declared "on fire"? The only makes sense if you cut costs and that is jobs and services provided by small businesses. Germany retail sales were down and inflation fell in Europe. Now we worry about deflation. Remember when the fed worried about INFLATION? So, Germany leads the EU and they are not buying. The US still continues to post declining numbers. How can anyone thing the emerging countries are going to continue double digit growth? Add to that Japan's strategy of following Bernanke to print Trillions of Yen to prop up their manufacturing base. Good luck , China, India, Brazil, South Korea, etc.

This recession technically ended in July of 2009 --6 months after Obama took over. So, why are we jobless? Why is income going down? Because he took the money we are supposed to see going into the recovery and put it in food stamps, unemployment benefits, on the books of big banks, healthcare reform, stimulus(?),alternative energy incentives (mostly autos), California bailout, union pension fund bailouts,1600 new IRS agents (to audit Tea party opponents) etc. Remember when he was running for President and bashing Bush? All that noise about the Trillions he would save shutting down Iraq and Afghanistan? Well Iraq has been over for a long time. This week he told us 60,000 have come home from Afghanistan. So where are those dollars?

Now, perhaps he's been listening to ideas on why the government training (which should be education) programs don't work. He said this yesterday:
"You can make a really good living and have a great career without getting a four-year college education as long as you get the skills and the training that you need," he said.

Obama has a close relationship(jobs advisor) with GE chief executive Jeff Immelt, who has advised him on strategies for recovery and job creation after the recession. Immelt was not at the event on Thursday.

GE employed about 134,000 people in the United States and about 305,000 people worldwide at the end of 2012. Think about that: our key man on jobs has 2 thirds of his labor force OUTSIDE the US. During his time as jobs advisor he moved his medical equipment plants from Wisconsin to China.

Under Obama's energy program he touted so highly in the SOU speech gasoline has gone from $1.86 under Bush to $3.25 today. It feels like it is less because it spent a lot of time north of $4 under Obama. Check corn, wheat, food, etc.

The new America he has given our kids: start a new business and target food stamp recipients, minimum wage earners, unemployment benefit recipients, social security retirees, college grads living in their parents basement, kids under 26 on their parents insurance program, welfare supported teen mothers. he set of people who pay no taxes. Then apply for tax rebates on electric cars, HVAC improvements, Obamacare subsidies, college education subsidies, insulation upgrades and if you own a house underwater a forgiveness on your debt when you short sell it. And, if you are an illegal immigrant who came here 10 years ago and took one of the above mentioned peoples jobs just hang in there --you'll be legal soon and are probably now the proud parents of American citizens being educated in our free system and only 5 or 6 years away from taking 3 or 4 of the above mentioned people's jobs.

Today is Bernanke's last day on the job. I'm sure Obama will miss him. I thank him for serving but if the recession ended in July of 2009 then why are we still printing our 5th Trillion? A lot to think aobut isn't it?

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