My Take On The Election
Gary Kaltbaum is an investment adviser with over 18 years experience, and a Fox News Channel Business Contributor. Gary is the author of The Investors Edge. Mr. Kaltbaum is also the host of the nationally syndicated radio show “Investors Edge” on over 50 radio stations. Gary is also editor and publisher of “Gary Kaltbaum’s Trendwatch”… a weekly and monthly technical analysis research report for the institutional investor. If you would like a free trial to Gary’s Daily Market Alerts click here or call 888.484.8220 ext. 1.
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For my election report, I did want to cover a couple of subjects near and dear to my heart. You may agree or you may disagree but I believe all should ponder both sides of the issues.
“We should not be giving more and more money to the wealthy!”
Therein lies one of my biggest issues I have with what looks like our next President…Barack Obama. Now…let me be clear…after watching the Republicans become socialists of the highest order, I am not sure I can complain about any proposals at this point. But again, I have two important questions from this one statement. Who is WE and what is WE GIVING?
Obviously, Barack Obama’s WE is the government. Obviously, GIVING means money. I am sorry. I just don’t get it. Since when does the government give anything to anybody. Since when has the government given anything to the “wealthy!”. You may correct me if I am wrong, but the last I looked, the “wealthy” give their money to the government…not the other way around. The “wealthy” are given nothing. The “wealthy”, for the most part, EARN their money.
In fact, most all of us earn our money. We are given nothing. I am less worried about Barack Obama’s proposals than the attitude that is shown for people who work their tails off to become a success. I am worried about the attitude that he thinks it is not your money…and that it is given to you. I am worried that in the past week, the so-called $250,000 threshold to become one of the “privileged few” was lowered to $200,000 and then floated at $150,000. I am worried about trial balloons being floated about government taking over your 401k. I am worried about the so-called tax cuts for 95% of the public is nothing more than social engineering by telling someone how they have to act in order to get another stipend from the government.
When government believes it is their money first, we are all in big trouble. I am worried about this whole attitude to what is OUR MONEY…OUR HARD EARNED MONEY. That said, the Republican party has earned the right to be put out to the curb. You cannot say one thing and be another…without repercussions. If Obama wins, as an American, I will back him fully and will only wish his decisions are the right ones.
Onto my other problem…the mainstream media. Yup, those lovelies in the mainstream media. You know, the all-important watchdog group. The group of people who are supposed to be the checks and balances for all of us. The ones that dig deep into candidate’s background regardless of ideology to make sure of who they are, what they believe and whether they have the ability to lead.
Yup…the media that is supposed to report the news in an unbiased fashion. After all, isn’t that what they are taught in journalism school? So…let’s take a glimpse of this media. Because in case you don’t know, you could be next. It doesn’t matter who you are or what you do. If you do not fit the agenda and you do not fit on the template of the mainstream media’s beliefs, you are skewered. If you do fit, your foibles, your mistakes, your misdeeds, your gaffs and all your negatives are ignored…while you are put up on a pedestal invented by that same media.
It is a media that actually took a sitting governor of one of our 50 states…yes, we only have 50 states…thus 50 governors…a rare position to have…and even rarer for a women to have that position…and all but tried to destroy her. The media parodied her, put down her every move, her voice, her mannerisms, her children, her clothes, her husband, her state, the people of her state and everything else under the sun…and what was she guilty of…yup, the crime of accepting the chance to become the next Vice President of this great country.
First off, let me be clear. I did not like the pick. I thought a more experienced candidate should have been picked. Regardless of that, this women had no chance from the get-go. The media were determined…and frankly, got the job done. They have turned a good women into a parody…just because she was a threat to the agenda.
It is a media that would take a plumber…or whatever he is…and investigate him more than they investigated Barack Obama’s past. They investigated his job, his taxes, his license and everything else under the sun…why…because again, he did not fit the agenda. They poked through his life. Why? He actually asked a tough question. My goodness…a tough question. What a crime!
It is a media that every time McCain would get close in the polls, took the word “racism” out of their bag. In fact, they used that word quite easily. You see, if you don’t vote for Obama, you have to be racist. It can’t be policy. It can’t be his lack of experience versus McCain’s experience. It has to be racism. Not only that, but it is a media that also claimed that a good man like John McCain would incite hate and racism just because a rogue imbecile in a crowd said something that should have not been said. Of course, this never happens in an Obama crowd. The Obama crowd is always well behaved…never says anything bad towards the other side.
It is a media that when a certain Florida Congressman had a sex scandal, the media was all over it…all day…all night…and how it would affect elections going forward and take down the party. It is that same media, that when that same Congressman’s successor was also caught up in a sex scandal…did not report it one time…not one time. Why? Simple…the first congressman was of one agenda, the second congressman was of another agenda.
I can go on and on about the over reporting, the underreporting, the no reporting dependant on which candidate we are talking about…..but need not. It is all out there for everyone to see…whether you are on their good side or bad. Just remember, you could be next. All this will now go away after Tuesday as the media will be able to take a deep breath that their guy won and their agenda can move forward. You will notice quickly how our standing in the world will automatically be better…how the sun is now out and the gloom is gone. The world will be a better place…because the media will say so.
I repeat…I do not drink anyone’s kool-aid. I have blasted this administration for the past couple of years for its total ineptitude and lack of leadership. I don’t care what party affiliation someone has. I want good leadership. I want pro-growth policies. I want sound judgment. The fact is Barack Obama has run a fabulous campaign…a well oiled machine. I just wish things were reported down the middle as to not persuade. But it is what it is. I am in hopes he runs this country as well as he has run his campaign.
I will be back to market reports after the election. We have had another nice move off of an extended low with all the crash stocks now bouncing. This is normal. It is not the first bounce that matters…it is whether it sticks or not and builds on it. Is THE low in or A low in? It is too early for me to tell. This will take time! I only make note that so far, volume has been light as things have wedged up. This will need to change. I do believe what we have seen this past couple of weeks smacked of climactic selling…so maybe…just maybe, the worst is behind us…for now!
Disclaimer: The opinions expressed herein are those of the writer and may not reflect those of Wunderlich Securities, Inc. or any of its affiliates. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.