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Thursday, July 19, 2012

Romney Versus Obama - The Content Of Their Characters

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Received in an email and verified as "mostly true" on Snopes.com:

Mitt Romney:

After going to both Harvard Business School and Harvard Law School simultaneously, he passed the Michigan bar, but never worked as an attorney.

As a venture-capitalist, Romney's first major business deal involved investing in a start-up office supply company with one store in Massachusetts that sold office supplies. That company, called Staples, now has over 2,000 stores and employs over 90,000 people.

Romney or his company Bain Capital (using what became known as the "Bain Way") would go on to perform the same kinds of business miracles again and again, with companies like Domino's, Sealy, Brookstone, Weather Channel, Burger King, Warner Music Group, Dollarama, Home Depot Supply, and many others.

Got your calculators handy? Let's recap:
  • Volunteer campaign worker for his dad's gubernatorial campaign 1 year.
  • Unpaid intern in Governor's office 8 years.
  • Mormon missionary in Paris 2 years.
  • Unpaid bishop and stake president for his church 10 years.
  • No salary as president of the Olympics 3 years.
  • No salary as MA governor 4 years.
That's a grand total of 28 years of unpaid service to his country, his community and his church. Why? Because that's the kind of man Mitt Romney is!
  • And in 2011 Mitt Romney gave over $4 million to charity, almost 19% of his income....Obama gave 1%
  • Joe Biden gave $300 or .0013% 
This is real character vs....well you know what!

Romney may not be the best representative the Republicans could have selected. At least I know what religion he is, and that he won't desecrate the flag, bow down to foreign powers, or squander my money on vacations. I know he has the ability to turn this financial debacle that the "Spending President" has gotten us into.

We didn't know that when Obama said he'd give us change, he meant nickels and dimes, and he would get the big bucks.

We won’t like all the things necessary to recover from this debt, but someone with Romney’s background can do it.

But, on the minus side,
  • He never was a "Community Organizer", never took drugs or smoked pot.
  • Never got drunk. Did not associate with communists or terrorists. 
  • Nor did he attend a church whose pastor called for God to damn the US ....
From Martin Luther King, Jr.:
I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character. 

That's quite an appeal to "character" by our current President.

2012 IS HERE

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There is always an easy solution to every human problem—neat, plausible, and wrong.
Henry Louis Mencken (1880–1956)
“The Divine Afflatus,” A Mencken Chrestomathy, chapter 25, p. 443 (1949)
... and one could add "not all human problems really are."
It was beautiful and simple, as truly great swindles are.
- O. Henry
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Tracking Interest Rates

Tracking Interest Rates

FEDERAL RESERVE & HOUSING

SEARCH BLOG: FEDERAL RESERVE for full versions... or use the Blog Archive pulldown menu.

February 3, 2006 Go back to 1999-2000 and see what the Fed did. They are following the same pattern for 2005-06. If it ain't broke, the Fed will fix it... and good!
August 29, 2006 The Federal Reserve always acts on old information... and is the only cause of U.S. recessions.
December 5, 2006 Last spring I wrote about what I saw to be a sharp downturn in the economy in the "rustbelt" states, particularly Michigan.
March 28, 2007
The Federal Reserve sees no need to cut interest rates in the light of adverse recent economic data, Ben Bernanke said on Wednesday.
The Fed chairman said ”to date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing in core inflation”.

July 21, 2007 My guess is that if there is an interest rate change, a cut is more likely than an increase. The key variables to be watching at this point are real estate prices and the inventory of unsold homes.
August 11, 2007 I suspect that within 6 months the Federal Reserve will be forced to lower interest rates before housing becomes a black hole.
September 11, 2007 It only means that the overall process has flaws guaranteeing it will be slow in responding to changes in the economy... and tend to over-react as a result.
September 18, 2007 I think a 4% rate is really what is needed to turn the economy back on the right course. The rate may not get there, but more cuts will be needed with employment rates down and foreclosure rates up.
October 25, 2007 How long will it be before I will be able to write: "The Federal Reserve lowered its lending rate to 4% in response to the collapse of the U.S. housing market and massive numbers of foreclosures that threaten the banking and mortgage sectors."
November 28, 2007 FED VICE CHAIRMAN DONALD KOHN
"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."
http://www.reuters.com/

December 11, 2007 Somehow the Fed misses the obvious.
fed_rate_moves_425_small.gif
[Image from: CNNMoney.com]
December 13, 2007 [from The Christian Science Monitor]
"The odds of a recession are now above 50 percent," says Mark Zandi, chief economist at Moody's Economy.com. "We are right on the edge of a recession in part because of the Fed's reluctance to reduce interest rates more aggressively." [see my comments of September 11]
January 7, 2008 The real problem now is that consumers can't rescue the economy and manufacturing, which is already weakening, will continue to weaken. We've gutted the forces that could avoid a downturn. The question is not whether there will be a recession, but can it be dampened sufficiently so that it is very short.
January 11, 2008 This is death by a thousand cuts.
January 13, 2008 [N.Y. Times]
“The question is not whether we will have a recession, but how deep and prolonged it will be,” said David Rosenberg, the chief North American economist at Merrill Lynch. “Even if the Fed’s moves are going to work, it will not show up until the later part of 2008 or 2009.”
January 17, 2008 A few days ago, Anna Schwartz, nonagenarian economist, implicated the Federal Reserve as the cause of the present lending crisis [from the Telegraph - UK]:
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at the Fed is not equal to the problem that faces it," she says, daring to utter a thought that fellow critics mostly utter sotto voce.
January 22, 2008 The cut has become infected and a limb is in danger. Ben Bernanke is panicking and the Fed has its emergency triage team cutting rates... this time by 3/4%. ...

What should the Federal Reserve do now? Step back... and don't be so anxious to raise rates at the first sign of economic improvement.
Individuals and businesses need stability in their financial cost structures so that they can plan effectively and keep their ships afloat. Wildly fluctuating rates... regardless of what the absolute levels are... create problems. Either too much spending or too much fear. It's just not that difficult to comprehend. Why has it been so difficult for the Fed?

About Me

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Michigan, United States
Air Force (SAC) captain 1968-72. Retired after 35 years of business and logistical planning, including running a small business. Two sons with advanced degrees; one with a business and pre-law degree. Beautiful wife who has put up with me for 4 decades. Education: B.A. (Sociology major; minors in philosopy, English literature, and German) M.S. Operations Management (like a mixture of an MBA with logistical planning)