It isn’t easy to earn interest income these days. Interest rates on government T-bills, banks’ savings accounts, and certificates of deposit are microscopic. You can blame our government and central bank. They have “ZIRPed” millions of American savers. Here are the details:
Candidates for president generally blare recorded rock or country hits before their campaign rallies. At President Obama's appearances, expect a different form of music: whistling in the dark.
Rational people realize that President Obama's policies have been an abysmal failure, which is why his only hope for re-election is to try to sow confusion among the voters, such as those populating "Occupy Wall Street."
Sifting through the Administration-Solyndra emails it is clear that President Obama’s taxpayer investment in Solyndra was not random. Bureaucrats and political appointees spent significant time evaluating the company and debating the merits of the soon-to-be-wasted taxpayer guarantee. And that is exactly the problem!
Supposedly, this White House has just made a furious attempt to sink a book, "Confidence Men: Wall Street, Washington, and the Education of a President" by Ron Suskind, which came out Sept. 20. Jay Carney, the White House spinmeister, spoke ill of it. Numerous former White House staffers spoke ill of it. Carney said, "One passage seems to be lifted almost entirely from Wikipedia."
Ah yes, the Obama campaign team is hard at work. Occupy Wall Street would like a totalitarian government and an Obama reelection or retention by other means. That fits nicely with the Roseanne Barr statement about guillotines and re-education camps. This must be the new tone.
It's important to understand the fundamental reasons for owning gold, and those reasons have not changed. The US government embarked on a decades-long spending spree of historic proportions. To finance the resulting debt, the Federal Reserve is printing money furiously.
If Congress is foolish enough to pass such a law, and president Obama is foolish enough to sign it, expect to lose a half million jobs minimum because of it. Depending on retaliations and how things escalated, 2 million jobs lost would not be surprising in the least.
Earlier this year, President Obama issued Executive Order 13,563, requiring all Executive branch federal agencies to establish procedures for a retrospective review all of their existing regulations. Initially, I was hopeful this review would yield real results; that the President had finally heard the pleas of our small business community and was ready to give them the tools necessary to expand their businesses and create jobs.
If you were posting a Facebook relationship status update about President Obama and rich people, you'd have to check "it's complicated."
Highlights from the president's deficit remarks in the Rose Garden, September 19.
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