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May 22, 2014


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OPPORTUNITY FOR FREEDOM OF SPEECH: West Point was the location for the President to give his justification for his foreign policy of the past 6 years. Once again we have another announcement of our plans to the enemy in Afghanistan and a moving line likely all in the name of politics. Now we'll be strong until 2016 and then leave. West Pointers graduating and motivated to enter the ranks of the active duty must be totally confused by the new direction of the US military. But, it is a tribute to freedom of Speech that he was invited and listened to. A supporter of the President's foreign policy this morning was asked on CNBC to name one country with which the US has better relations than it had when the President took office. He could not name one. I would have said "Iran".

THE ECONOMY: US GDP figures for Q1 revised this morning to MINUS 1 %. If that was weather then it was a hell of a storm nation wide for 3 months. This economy as shown by retail sales is still struggling to find its way back. While managers are growing in confidence they continue to look mostly at sales and business development people while they take advantage of the retirement of the baby boomers at 10,000 a day to eliminate more jobs. It feels like Q2 may be a bit better but without any participation by banks and a lack luster housing market only those states lucky enough to have oil and gas are recovering.

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