JUST LETTING YOU KNOW
As I started my radio show today, I heard that John Boehner was on his way to the White House from Capitol Hill to speak with Barack Obama about coming to some sort of agreement on the Fiscal Stiff…gosh I feel so much better.
Now ladies and gentlemen, the good news is in a couple weeks we won’t have to talk about this anymore because, they’ll come to some agreement.
But then we’ll be talking about that nothing has changed.
This afternoon I was watching Neil Cavuto’s “Your World” which is on 4:00p to 5:00p ET Monday through Friday on Fox News Channel…and is a daily must-watch!
And he was he was interviewing Steny Hoyer, the Democratic Congressman from Maryland. It was interesting that Neil Cavuto asked him a specific question on what he would like to see. And Neil Cavuto got something like this:
Ha ha ha, you know how this works, Neil.
So ladies and gentlemen, don’t be a mark for these con-artists. It’s a con game. Do you remember a few months back…the debt ceiling?
If we do not raise the debt ceiling, the end of the world’s going to come!
So they polled all of you and all of you said:
Oh, we’ve got to raise the debt ceiling or the end of the world’s going to come.
Because they told you so? Imagine, raising more debt to save the country. They have you believing this.
What do they do next? Part of that debt ceiling deal was:
Oh before the end of the year, we have to come to an agreement on the Bush Tax Cuts..or else!
And what do they do? Like the abysmal failures that they have been for years, they wait until the last minute to sell you on a crisis that the end of the world is going to come. ..again! And they start polling you!
What do you think is going to happen if we go over the Fiscal Cliff?
Uh…that would be bad – we can’t have that!
You know why you answer it that way? Because that’s the answer they are conditioning you to say. You’re a bunch of marks for these con-artists.
No matter what agreement they come up with, we’re going to be at $22 Trillion in debt within four years AND let me throw in the kicker: The day the bond market shoots a certain finger back at Ben Bernanke, then interests rates to fund that debt go up. And then what happens?
I don’t want taxes going up. They don’t deserve another one of our dollars. They are misappropriators and misallocators of our hard-earned dollars. They don’t care about you. They don’t care about the middle class or the downtrodden. But they love the downtrodden. They’re votes!
If more people were less dependent on these imbeciles, they couldn’t be around anymore. We wouldn’t need them. But they’re just bookies. They’re go-betweens. They take our taxpayer dollars as their tribute and hand out a little this, that and the other thing to people in the way of cell phones and food stamps and whatever else.
$16 trillion in debt. These miserable failures.
Yet—they’re there to fix it for us. They’re going to take care of it. It’s all going to get better. Because you guys – the privileged few are going to pay for it.
But that’s a lie also. Because you can tax those privileged few at 100% and it still wouldn’t cover Obama’s deficits! Oops! I’m sorry it was George Bush’s fault.
So I just want to let you know that they’re full of it. Nothing’s going to come of it. They’re going to do this that and the other thing and we’ll be at $22 trillion in debt in four years.
And you’ll all be saying, “What happened? They told me they were cutting debt and the spending?”
You believe Barack Obama cares about the deficit? Any of you? This man came in and said he would cut the deficit in half and immediately did a stimulus plan of $900 billion that’s added to the spending every year because they do this scam called baseline budgeting in Washtington DC!
Do you know how they funded this? With fake dollars. The Fed is printing money to buy our own bonds up. They bought up 70% of our bonds in the past year. We have a trifecta of debt in Bernanke, Geithner and Obama. This has nothing to do with Obama personally. I treat him as a businessman and CEO of this country and he is bankrupting the country singlehandedly.
George Bush started it. And Barack Obama has taken it into the hypersphere. And the only reason that the markets haven’t reacted to it is because the Fed is printing $85 billion a month now to goose markets!
When you have a market with fixed assets and you increase the amount of dollars that chase those assets, those assets are going up in price – until they don’t.
Once the bubble expanded to as far as it could go…Poof!
Stop being conned! I don’t care if you’re a Democrat or Republican. All I’ve done is talked numbers. Forget everything else. Just numbers. Obama increased our spending by over $900 billion overnight and our deficits are 1.2 trillion – on him.
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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.