Neil Cavuto dicusses the economy on the O' Reilly Factor

Neil Cavuto is a smart guy. There just isn’t a question about that. When it comes to the economy and stock investing, Bill O’ Reilly is out of his league. That was perhaps never more apparent than in the following video of the O’ Reilly Factor.



But the biggest thing I found in this video clip is the fact that President Obama has lied to the American public. And he is getting away with it.

President Obama stated he had a plan for the economic crisis back in late November, but we have yet to hear it. He stated that he would cut wasteful spending, yet he is approving of a spending bill with 9,000 earmarks. He stated that he would only go after the rich, yet his stimulus package excludes those over $75,000. And he stated that he would be open to comments and thoughts, yet he is actively ignoring the stock market and unknown numbers of investors.

President Obama has an agenda. He had it before the economic crisis, and before the election. He continues to follow thru with that agenda, even as it costs tens of thousands of jobs and the retirement of millions of Americans. That should concern more people than it is.

Neil Cavuto may seem harsh, or grim as O’Reilly states, but in fact he is being honest. I learned a long time ago as a stock broker, that is the least liked response. Even when you are dead-on correct.

When I spoke about the problems of Citigroup over a year ago, I was told I was stupid. When I discussed more than a year ago my fears for the economy, I was told I could not understand the big picture. Look it up, the facts are in black and white. So I understand how Cavuto feels.

The fact is that President Obama has neither given a reason, nor a soundbite to encourage investment in the market. He has ignored the well-being of millions of Americans today, with the promise of a better future for some in the unknown future. And according to polls right now, the public loves him for it.

People hate Bill O’Reilly when he points out the short-coming of President Obama. People hate Neil Cavuto for pointing out the ineffectiveness of the economic plans of Democrats right now (and Republicans when they were in office). And people just tell me they hate me of a list of reasons, avoiding any commentary on what I have actually said and/or gotten right.

What does that say about America? That we are so busy drinking sand and hiding our heads that reason is beyond us. The people that are going to pay for this is more than just homeowners like myself that are paying their bills and soon to be paying those of others. Our children, and soon their grand-children will be paying for the agenda of President Obama and the Democrat-led Congress.

I hope that President Obama saw this video, if not the actual program. I hope people around the nation saw this. Because at some point the Government needs to act as if they have a concern.

President Obama thinks stock market is a good deal he doesn't care about

There is nothing like watching the daily polispeak dance that politicians like to do. It is especially interesting when the dance is being done by the President. Few Presidents are as skillful with polispeak as President Obama, which says a lot.

I mean just look at how President Obama has handled the complete meltdown of the stock market. The Dow Jones Index, along with virtually every stock on any exchange, have nosedived down a vortex nearly every day since he was elected. But this is considered merely “day-to-day gyrations” that are of no consequence.

An almost total freefall, some 26% since the first trading day of 2009, is a minor happenstance. This is hardly worth talking about in the view of the President. And if you must speak about it, it is all the fault of the prior administration.

Of course President Obama started talking to the markets and the nation months before he was inaugurated. He was dictating economic policy and outlining his initiatives well over 60 days before he was sworn in. And he has effected economic policy changes as well as given somewhat direct guidance on what steps he plans to take in these troubled times. But the current effects on the economy have nothing to do with his Administration.

I mean let’s just look at what he has done so far.

His Secretary of Treasury has gotten the remaining $350 billion dollars from the Bush mortgage bailout. There has been no word on how that money is going to be spent, if it has not been already, but he has the access to it.

He let the Democrat-led Congress loose on a stimulus package that swelled from the day he was elected (then a mere $50 billion dollars) to the final passage of $787 billion dollars. The package is all money borrowed from the nation to be repaid by taxpayers with interest in the future. But everyone who receives a paycheck will be able to make an extra $13 a week for 4 months – if they are under the class of rich which is $75,000 for individuals.

But besides the non-lump sum of $400, the public is also paying for honey bee research ($100 million), and moving Government Agencies at $500 million a move, and research to find a way to create usable green energy (~10 billion dollars - just to find a way to make it, not a dime to actually implement it since it does not exist and may not for a decade), and $100 million for moving fish barriers in mid-West rivers among hundreds of other spending programs.

All of this is to ensure that the roughly 500,000 people who were laid off from Circuit City and almost every other major private sector company in January alone will still have a job. I’m not sure how since I doubt most people have degrees in biology, physics, engineering, and so on, but he said it so it must be true.

President Obama also told the world that he was going to increase the tax on investments in the stock market. Because the fact that interest rates are too low to invest in bonds was not enough. Plus he intends to tax the hell out of those able to afford to invest. So you can understand why the world has rushed in to invest in our markets.

But in case anyone just wanted to hold onto their cash, President Obama is authorizing the Government to essentially take over banks. This way the Government can ensure that loans are made – as well as who will receive them (by the way, isn’t that part of the reason we are in this mess?). Plus the Government can be right on hand to wherever people are putting their money.

But lest you try to give away your money, to charity, the Government under President Obama has another answer. The taxes are to increase on donations. Thus you can give away all your money to a charity, and still owe the Government a huge sum of money. Because under President Obama the Government is smarter than the public and will decide where your money should go and who can receive it. Even though the Government can’t balance a checkbook and most of the public can.

Still just in case any money is not accounted for the Obama Administration has a plan. By increasing the cost of energy, like gasoline and electricity, with taxes they can scoop up more money. Even though this means the price of filling up a car, heating a home, buying food or any other consumer item will increase as well. But remember the Government gave everyone getting a paycheck an extra $13 dollars a week for 4 months to cover the cost of everything going up. If you make under $75.000 and thus not rich.

Yes, all of this. Yet the stock market has continued to sell off like a waterfall. Why should anyone be concerned. It’s not like the stock market is a forward indicator of the economy.

Still, just to cover his tracks, President Obama is now talking like he cares about the IRA’s, mutual funds, stock investments and retirement funds of tens of millions of Americans. He has now stated that “buying stocks is a potentially good deal”. Isn’t that great!

Oh I can see the crowds forming a line to just jump into the markets, with money left over from I know not where. Considering the prospects he has laid out, it’s easy to see how you can make all of 10% - before taxes and commissions – in about 2 years. That’s only a LOSS of maybe 20% after taxes and commissions. Why wouldn’t anyone want to get on that train.

And that loss should coincide perfectly with the $2 trillion in spending cuts President Obama plans to make, if he does not continue with his plans to spend $3.5 trillion on the national budget. Plus every projection he has made – that his own economists think are improbable – comes true exactly as he has stated they should.

Polispeak is a wonderful thing. Because after stating all these things, driving away investors and making every industry of business cringe, President Obama maintains a 64% approval rating. Just watch him dance