The Election…My Take!
Commentary for November 1, 2010
Gary Kaltbaum is an investment adviser with over 25 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.
In the subsequent weeks after the 2008 election, I went on Fox News and Fox Business as well as my radio show and stated my opinion on the shape of things to come. My opinion today is the same as my opinion then. This would be the most pro-government, anti-business, high tax, big spending leadership in history.
At the time, I felt that the corrupt mainstream media was investigated Joe the Plumber’s background more than a Presidential candidate’s background. I felt that Barack Obama’s entire background, his affiliations as well as his words were based on the redistribution of wealth. The actions of the past two years, unfortunately, proved this right. But elections have consequences…and the coming election surely will.
I expect 60-70 house seats to swing to the Republicans…many more than most think. I expect a close call in the Senate but think the Democrats will hold a 51-49 edge or even a 50-50 tie. California remains a tough nut to crack. I expect a huge pick up in state legislatures as well as the governorships for the Republicans also. So…how did it get to this point? How did a major tidal wave turn right back around in short order? My thoughts are based on this election not being based on local politics but now, more than ever, on national politics. Here is my message to the administration and the leadership.
1) NEVER OVERPROMISE!
I was amazed when they all but guaranteed unemployment would not go above 8% if the stimulus bill was passed. Smart politicians are supposed to realize that if you put a specific number out there, it will come back to haunt you. This led to the other part of the equation. NEVER UNDERDELIVER!
2) IF YOU VOTE FOR US, YOU ARE THOUGHTFUL, SMART AND ENGAGING AMERICANS. IF YOU VOTE FOR THEM, YOU ARE ANGRY, STUPID, DISENGAGED, KNOW-NOTHING RACISTS!
Yes…that’s the ticket. That is sure to win over votes. These words did not just come out of the media. They came out of actual politicians. Every time someone used those words, another voter leaves. Amazing amazing amazing how voters are treated like they are stupid.
3) DON’T &%#&@ ON ME AND TELL ME IT’S RAINING!
And I quote:
On the deficits:
“We should all be able to agree that we’ve got to do something about our long term deficits. These deficits won’t just burden our kids and our grandkids decades from now. They could damage our markets now, they could drive up our interest rates now, they could jeopardize our recovery right now,” says Barack Obama…author of the $800 billion stimulus bill and the $1 trillion healthcare bill.
“When we continue to spend as if deficits don’t matter, that means our kids and our grandkids may wind up saddled with debt that they’ll never be able to repay.” — Barack Obama…author of the $800 billion stimulus bill and the $1 trillion healthcare bill.
On the healthcare bill:
“We have to pass the bill so we can find out what’s in it.” — Nancy Pelosi, by accident telling the truth.
“What good is reading the bill if it’s a thousand pages and you don’t have two days and two lawyers to find out what it means after you read the bill?” — Rep. John Conyers (Mich.), on purpose telling the truth.
“That makes this legislation the most significant effort to reduce deficits since the Balanced Budget Act in the 1990s,” says Barack Obama with a big umbrella in his hand.
4) LAWYERS, DOCTORS, POLICE, INSURANCE COMPANY WORKERS, OIL COMPANY WORKERS, WAL-MART WORKERS, MEDICAL DEVICE COMPANY WORKERS, DRUG COMPANY WORKERS, BANK WORKERS, WALL STREET WORKERS, HMO WORKERS, PEOPLE THAT MAKE MORE THAN $250,000/YEAR…ALL VOTE!
You just cannot continue to put all these people down as corrupt and expect their votes and confidence.
5) LEADERSHIP MEANS TAKING RESPONSIBILITY…NOT BLAMING EVERYONE ELSE!
George Bush has been gone for almost 2 years. No one wants to hear about what George Bush did or caused. They only want to hear what you will do.
6) GOVERNMENT CANNOT TAKE CARE OF EVERYONE FROM CRADLE TO GRAVE! GOVERNMENT DOES NOT DEFINE PEOPLE. PEOPLE DEFINE PEOPLE! EVEN EUROPE IS FIGURING THIS OUT!
If you are going to promise the moon and the stars, you had better have the moon and the stars in your bag.
I have actually met people that thought the day the healthcare bill passed, that everything was going to be free…and immediately free.
7) IT’S THE INDEPENDANT MIDDLE STUPID!
You won because independants and the middle moved toward you. You promised to govern from the middle. You promised to be bipartisan and include all opinions. Instead, you governed from the waaaaay left and ignored the opposition. The middle now runs away from you as the mask came off. Amazingly, this is the same mistake the Republicans made…and you did not learn one lesson from it.
8) IT’S NOT THE MESSAGE, IT’S THE POLICIES!
Apologists in the media continue to whine that it is your message. They continue to whine that you have not been out there enough. I have news for you. That’s all we have heard is your message and that’s all we have seen, you and your message on a daily basis. People no longer care what you say. They watch what you do…and they have figured it out. If you continue to believe it is just the message, you will be a goner in 2012.
There’s my take. The #1 rule in business is to learn from others and learn from your own mistakes. The Dems either didn’t or just refused to learn those lessons. Back on you Republicans!
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. Securities offered through Wunderlich Securities Inc.