18 November 2008

Economic Prozac: Depressed Consumers Can't Buy Goods and Services
By Bill Glynn

Bailout after bailout of big industry won't help if Americans can't or won't consume their products. A depression is looming over America. Recession is already upon us and Americans' inability to afford their current debts and, worse, companies' inability sell goods to them will exasperate the economic woes. Regardless of the American people's vote, the bailout of big businesses will continue, although I suspect overwhelmingly voters would choose bailing out themselves too. Why is this a good idea? Much of the trouble with banks, auto manufacturers and definitely retailers to come is that consumers are strapped with debt, having lines of credit and credit cards cut off and can't squeeze any money out to support the industries being bailed out. This should be at the core of the bailout. My solution calls for a converged strategy where consumers get a cash infusion and loans are provided to failing companies. The convergence occurs when consumers clean up their balance sheets so big business won't have so many bankruptcies and defaults - the core of the problem - while businesses shore up their balance sheet while assuring more spending in the future that is necessary to bolster sales. [more...]


Let the Obama Disaster Begin
Get Ready for a Toxic Brew of Big Government, Big Bureaucracy, Big Unions... and Lots of Lawyers!
By Wayne Allyn Root

I have a question for you. When I hire someone, I want to know about their skills and experience for the job for which they're applying. So, America thinks Obama can fix this mess? With what? Voodoo? How can he solve a business problem, when he knows absolutely nothing about business? In the 25 years since we graduated Columbia University Class of '83 together, Obama has never started a business, run a business, or risked his money on a business deal. Not once in 25 years. During the campaign, he talked about creating millions of jobs. Well, the next one he creates will be his first. Good luck with that.President-Elect Obama has never met a payroll, not to mention paying employee payroll taxes or health insurance. Yet his supporters, fans and voters think he holds the answers to a crumbling economy? I don't think he could run a bakery, let alone the U.S. economy. How frightening is this scenario? We're handing our country over to a man with no experience - no experience as a businessman, or as a government official - all because we dislike George W. Bush. America wanted ABB (Anything But Bush). [more...]


Bailouts Gone Wild!
By Bill Porter

Like a loose hose that is out of control and wildly spraying everything within range, Henry Paulson is wildly spraying money (our money) on banks, insurance companies and who knows where else. The auto industry is just one of numerous industries that are elbowing their way to get into the bailout line. Like sharks smelling blood, now even cities (i.e., Philadelphia and Atlanta) are trying to fund their own mismanagement with federal handouts. Where will it end... or will it end? The absence of a comprehensive proposal that can realistically address the country's financial crisis allows the crisis to determine its own course. Leadership expert Bill Porter, who is the author of the startling new book Presidential Lessons Learned - Follow the Leader, asserts that George Bush is missing in action and that Barack Obama is out to lunch. The last five Democratic presidents all began their presidency with a huge Democratic majority in both the House and the Senate. Only two have been able to capitalize on that extraordinary opportunity! Why? Bill's new book answers that critical question. Let Bill tell your listeners why! [more...]