The Obama Re-Election Clock - One Minute Closer to Midnight
Posted by: admin in Uncategorized, tags: doomsday clock, Obama, re-election, university of ChicagoThere is a doomsday clock that hangs at the University of Chicago that is meant to show how close we are to the end of the world. It doesn’t move much. In fact, it was moved two minutes closer to midnight in January of 2007. Since then we have had no movement and we now stand at 5 minutes before midnight, or the expected end of the world.
Why do I bring this up? Until recently I would have put the chance of Obama
not being re-elected at about the same chance the doomsday clock hits midnight in the next 4 years. After reading the Obama “tax the wealthy” plans, I am moving up the Obama Doomsday Clock by 1 minute.
Let me digress, I have a friendly banter with a Wall Street professional and I have always argued that there is a 99% chance that Obama will be re-elected in 4 years. One, he is the most charasmatic speaker of our generation, if not a few generations. His speech patterns and pauses are mesmorizing and could sell you just about anything. Two, he is inheriting the biggest financial and economical disaster in 70 years. Why is this good? All he has to do in the next four years is just STOP the decline. He doesn’t have to turn anything even around. He just has to stop the bleeding. Get unemployement to stop RISING, and get housing to find a BOTTOM, somewhere, anywhere. That’s it. His re-election is sealed with “I have stopped the greatest disaster in the last 100 years and I can make this country turn around if you give me 4 more years”. Done. He is in.
“Not so fast my friend.” as Lee Corso, ESPN football commentor would say. After reading his budget plans, I was shocked to see how much he is attacking the wealthy. It is is one thing to raise their taxes, but I read in disbelief how mortgage interest will no longer be a tax deduction and how there will no longer be a tax deduction for charitable contributions. As if the charities weren’t hit hard enough by this market and Maddoff, now no tax deduction for contributions? So, we are going to rely on the good hearts of the super wealthy to give large amounts with NO financial gain, just an altruistic pat on the back? Wow, talk about robbing Paul to pay Peter, or better yet, robbing St. Peter to pay Uncle Sam.
Taking the mortgage interest off the table is also just as questionable. We need a housing bottom, we need to encourge wealthy and not-as-wealthy people to pay their mortgages and buy homes, and now you take away the tax deduction for mortgage interest. How is this helping to find a housing bottom? You just made mortgages a whole lot more unattractive to people that have a decent net worth and that can spend some money and get things moving.
I know have to scale my Obama Re-Election Clock back to 92% from its current 99%. Why? Because 5% of the population controls 95% of the wealth in this country and Obama just declared war on them. Like it or not, money equals power in our society. The more money you have, the more power and influence people give you, like it or not. I am not here to start a moral debate over money, power, and influence, but lets just say if you are a big donor to your local and State politicians and you request a phone call with them, they are going to call you back. If you start russling the feathers of enough wealthy people with power and with powerful connections, there tends to be a backlash of somekind down the road.
This opens the door a crack for someone like Mitt Romney to step up in 2012. You can see the slogan as “I ran successful corporations, and American is a big corporation. We need a business and economic leader like myself to turn this country around”. Is it a dead heat right now? No way. Again, all Obama has to do is STOP THE BLEEDING Walled In download download Magicians dvd
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They say in life to never bite the hand that feeds you (or your government in this case) and lets just say Obama has nibbled on a finger. If he attacks the rest of the hand don’t be surprised to see the Republicans start a “he just doesn’t have the experince to get us out of this” conversation in 24 months, and to boast of their big business prowness.
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