JUST LETTING YOU KNOW
As you know, yesterday, I was quite pointed in which what I thought Romney needed to do. I did not discuss with you how he needed to look. I told you that he had to have some passion, some conviction – use the numbers, but most importantly – make sure the world knows who the President has been for the past four years.
He got an A+. I’m going to spend my time on the President here, except to say I don’t know what happened to him.
The interesting thing for me was that at the beginning, he said Happy Anniversary to his wife and said that we have 40 million people on our anniversary. So the president knew that tens of millions of Americans were watching. Yet the only thing I can think of, as I was watching this debate was that he was on some valium. And I don’t say that meanly. I don’t say it sarcastically.
He looked like he didn’t want to be there. He sounded like he didn’t want to be there. And I don’t even know if you know this. He spoke four minutes longer than Mitt Romney and it felt like he spoke for two minutes.
Now back Romney. As you know, I don’t pull any punches. I don’t like socialistic economic policy where you tax the living crap out of people and government spends infinitum and deficits as far as the eye can see…and deficits we never thought we’d have to put our hands around. That’s my take.
Some of you disagree. That’s okay. But you all think back, most of you were complaining about George Bush and his $250 billion deficit. And you’re not complaining anymore about $1.3 trillion. You’ve got to be intellectually honest on this. I am. I have blasted George Bush on Iraq, the deficits, TARP…in fact I annihilated Bush on the TARP. I play no favorites.
So here is my take on recent weeks…and last night.
- I think the polls are a bunch of crap. I think they make them up. I think there is an agenda to make people not even think Romney…that the President was wiping the floor with Romney. I believe the polls are lies. And we find out after the fact that some of these polls are skewed way to the Democratic side. On top of that, I think the biggest problem the President has is his media. They have turned him into and tried to make him into a deity.
He’s a man, with policies good or bad. And they made the mistake of putting him up on this pedestal.
And you know they say, the higher you put somebody up, the higher they fall.
- When Barack Obama stated that we’re giving $3 billion a year to oil companies (which I believe is true, but they go to the smaller ones as grants or tax credits or something like that), he opened himself wide open. You would think these guys would prepare him for what the return fire would be. And for me the hit of the night was when Romney said, you have away $90 billion to your cronies and the people who donated to you for Green energy. And then he threw in the line, “That’s 50 years of the oil companies and that would have hired 2 million teachers. “Whoa!
- And then the line, what I told you is a must here, he said word for word, “You have been the president for the past 4 years.” So every time the president says, “I propose to…”, Romney says you’ve been president the past years. What were you doing the past four years? And if Obama says, “It’s the Republican’s fault,” Romney says, “You had unfettered power for two years, the House…Senate…and the White House, you could have done anything you wanted. You could have had all toilets painted red across the country if you had wanted to.
I would have voted for Obama if he had come through with his campaign promises. Lower the deficit by half. Go line by line through the budget weeding out waste, and not treating taxpayer dollars as Monopoly money. We now know better.
And those of who are just totally Obama-ites, argue with me.
You can’t because we talk numbers here. I’m just letting you know that there’s just no way, shape or form that we continue this route and that the economic potential can hits its most going forward. This massive amount of debt brought to you by George W. Bush and Barack Obama is a major league headwind. But Obama came in and had the chance to be a hero with the debt. Instead, he was the worst possible person at this time. Because his goal was to massively expand government and as I told you three years ago, he ain’t going to raise your taxes now…he’s going to come get you later.
And I just put up a post on GaryK.com – Joe Biden, bless his heart, he’s going to kill this administration. Quote: “We want to raise your taxes a trillion dollars.” That will be playing for the next five weeks into the election.
I can’t wait for the Ryan-Biden debate.
Anyway, how does this affect you and your money? Every way!
See that $16 trillion in debt? That’s a tax on the consumer and business. All of us. It gets paid by us. Funded by Ben Bernanke.
Advice to Romney? Don’t get full of yourself. Keep doing what you’re doing.
This was a game changer. I suspect the President will come back much stronger the next go around.
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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. 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.