What For?

I’ve been telling you for awhile that the same hacks on both sides of the aisle come on tv and say the same crap. These are the same people that caused the problem.  I was watching a Repubi-con on TV today who was asked a direct question:

“So sir, what spending cuts do YOU want to make?

Simple question.

He wouldn’t answer the question. He just moved on.

So President Obama was out today, talking about the Fiscal Stiff.

John Boehner was out talking today about the Fiscal Stiff.

I have to tell you… it gets nauseating by the minute.

But I cannot blame them fully.  Just so you know, none of this could have happened if not for the lapdog, on-their-back, paws-in-the-air, tongues-wagging, national mainstream media. They have become nothing more than con-artists…successfully reporting they way they want to report.

What does this have to do with you and your money? EVERYTHING! Because it is you that is screwed in the end.

Here’s what  I saw today. You know CNN. Cable News Network. You know what they say about themselves: “We’re the unbiased network.”  Sure…and the Mets have a good bullpen.

As I was watching a panel talking about the fiscal stiff, a headline appears on the bottom of the screen:

The headline:

“Congress has 32 Days to Fix Mess It’s Created!”

Yes…the unbiased network, in their infinite wisdom, says Congress created this mess.

That’s CNN!

John Stewart, that comedian dude on Comedy Central (where most politicians should appear) also blasting Congress about the debt and the Fiscal Cliff!!! According to Mr. Stewart, Congress has to get their act together!

What is missing with this picture?

No president? You mean to tell me the President doesn’t have to get his act together? You mean the President has his act together? But congress doesn’t?

Oh that’s right.  The President that on purpose, has overseen the creation of $6 trillion of debt…and then blames everybody else for it…gets a pass. He isn’t even part of the equation. IT’S ALL CONGRESS’ FAULT.

Don’t forget that the other fake mantra this media is now claiming is that the Republi-cons want to raise taxes on the middle class! Little do they mention that it was these same Republi-cons who are the ones that that brought taxes down in the first place for the middle class. So the  freak’in shell game continues.

It is being led by the media parroting whatever this President says.. The whole media mantra is: It’s all Congress’ fault. And, of course, it’s Congress’ fault because it’s a Republi-con Congress. If it was a Democratic Congress and a Republican President, they would be destroying the Republican President about how much debt has been incurred.

Ladies and gentlemen, I can’t believe what I’m seeing!

If Obama gets his way, we’re going to have nothing more than higher taxes and no spending cuts.

He’s asking for higher spending! Believe it or not, he’s been talking and talking about lowering spending and raising taxes…which was the original deal. Republi-cons came in and said, “Okay, we will look at revenues but tell us what you’re going to do on the spending.” They called the President to task. And the President just wants to spend more.

And instead of the media doing their job…NO – CNN: “Congress has 32 days to Fix the Mess, It Created!”

Yet CNN doesn’t mention that all of this started with a Democratic Congress, Senate and Presidency, where they decided to take the Federal spending from $2.6 trillion to $3.5 trillion OVERNIGHT.

These are facts.

Ladies and gentlemen. I’m sitting here in Bizzaro Land as they refuse to put anything on the doorstep of the man who was running the country. And it is all in plain sight. It’s all about numbers. It’s not even about opinion. And I’m sitting here worried to death about what is going to happen!

And at the same time, all this nonsense is being funded by a  imbecile named Ben Bernanke that is printing the money to pay for the spending that nobody else would lend to this country at these rates.

The Fed bought up 70% of our bonds last year because nobody else wants to touch them.

Yet CNN: “Congress has to fix it…”

The President doesn’t have to do anything! He’s perfect! He has no blame in this. He’s wonderful. He didn’t create any of the debt. It’s all Bush’s fault. And if there is any debt , he had to do it because he had to save the country. And if you don’t like what he’s done, you’re a racist.

This is what I am watching.

And ladies and gentlemen, I’ve got news for you. Raising taxes on the rich from 35% to 39%… I’m good with it. It’s not going to change the world. But it’s a lie. The reasoning for it is a lie. They’re not going to lower the deficit. They’re not going to use the money to help the middle class. There is just no purpose for it.

You think the middle class is going to get better because they raise a few extra hundred billions dollars or so, when the debt is a trillion and change?

You think somebody’s going to get an extra job because somebody else is taxed more?

What world  are you guys living in to believe something like that? Do you think all of a sudden that the economy’s going to get better because of the people in Washington that run Amtrak… BANKRUPT…Post Office… BANKRUPT…Social Security STOLE THE MONEY…DEFICITS EVERY YEAR…Medicare and Medicaid UNFUNDED…do I need to continue with their failings?

Yet, we have to give them more money in order to solve the problems? What world are you guys living in?

Seriously! It is such a logical thought process here. Let me tell you the outcome of all of this:

The debt never gets paid back and the markets eventually blow up.

It’s happened to every country throughout history! You can blow up the debt just so long and just so much. They are just taunting markets….and the only reason they haven’t blown up as of yet is the printing of trillions of conjured up dollars.  And even though you’ve got this nutcase Bernanke that’s printing money to cover this, eventually the market is going to take a certain finger and stick it air right at Ben Bernanke and he’s not going to know what hit him.

I got so frustrated today, watching the words coming out of these peoples’ mouths. Just lie after lie after lie. I’m just dead serious about this stuff. Now you know what the game is. They’re attacking this guy Grover Norquist. Here’s what he wants. He just wants efficient and effective government.  He wants the government not to waste our taxpayer dollars. He wants the government to balance their books. What a horrible man! How dare he ask for such things? But the media needs a demon…and as usual, they follow the Prez and pick one.  That’s it! Nothing more.

And I’ll finish with two words: What for?

Interesting two words that nobody ever asks because they know they can’t ask it.

Mr. President: “You want more taxes for Treasury. What for?” 

You know what’s going to happen at that point. The President turns into Ralph Kramden…humina humina humina. There’s no plan. There’s no purpose. There’s no spending cuts. Just spend it first. Tax you later.

I’ve got news for you. Do you know who pays the most for all this? It will be the middle class. And the poor.

There’s nothing compassionate about the poor staying poor…and just giving them a check. There’s nothing compassionate about that. It does nothing for nobody. It produces nothing. They’ve got it ass backwards.

You’ve got to lift the poor up in how they see things…how they think, how theyeducate. You have to build up their confidence, their tenacity, their knowhow and their abilities. All this so they can walk the walk and talk the talk and get a great job…and get so good at their job that they get promoted and all of sudden people are working for them. And they got so good at being a boss, that they start owning companies. That’s how you get things moving…not just giving a check after the government takes their commission.

You don’t do anything for anybody by handing them a check. Just ask Solyndra.

We’re going the wrong way ladies and gentlemen…and it’s all right here in plain sight. The acceptance of the numbers we are seeing, of poverty and food stamps and free cell phones…the numbers are obscene.  


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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.