10/03/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST
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https://archives.warpradio.com/btr/InvestorsEdge/100318.mp3
JUST LETTING YOU KNOW
I have received several hundred emails since I appeared on TV on Fox Business News today asking me, what I do I want to see out of the debates tonight?
As you know, I do not pull any punches here. I have no favorites and can’t stand any of the politicians out there. I don’t think they think they work for us. I think they think we work for them. There about maybe 10 out of the hundreds that I think really do care. So we end up with the best of worst, unfortunately. And that who’ve got to choose from right now, because I’ve got news for you…I’m still waiting to hear what Mitt Romney’s going to do.
“Uh well, we’re going to lower taxes and…”
That ain’t good enough for me, because I don’t trust any of them. There’s not one thing I can say I like about Obama and his economic policy. I think he is left of a socialist. I think he lied to us. He told us he would lower the debt by 50% and instead increased it by 60%. Now just realize, you have to want to do that on purpose. This is no happenstance. It doesn’t just go boom. He did it on purpose. He lied.
And it’s funny. I was I talking Neil Cavuto yesterday and we discussed this. And I said, if you think about it, candidate Obama was everything we wanted to hear. He told us in 2008, that he’d cut the deficit in half. The quote is, “We will not treat taxpayer dollars like Monopoly money. We will root out cronyism. And we go line by line through the budget and get rid of waste, fraud and all that caca.
Well he lied about it all. Because we have never see a more cronyistic administration in the history of the world. They’re using the energy department as a slush fund. Go look. 87% of them are democrats. Some of these people actually started a business that had nothing and had no employees. They just said, “we’re green” and we’re going to build solar panels and they got $50 million no-payback grants. It’s a slush fund.
But besides that, there’s nothing I like about him economically. And frankly, if he just would have followed suit with everything he said he would do, he’d probably have my vote.
But he lied.
So in comes Mitt Romney and again…what is he going to do? You would have thought by now, the dude would sound like me. Because he’s running for president and I’m not.
You have thought the dude would have come out and said:
“In 2008, Federal spending was $2.7 trillion and we’re $3.7 trillion. How did we go up $1 trillion dollars…30% overnight and not rolling it back. We’re rolling it back. Because we can’t run $1.3 trillion deficits forever. That’s number one.”
That number one. That’s Gary. That’s me.
Number two.
And then I’d go line by line. In case you don’t know:
- They killed the coal companies. Patriot Coal filed for bankruptcy and a bunch of them are 3 and 4 dollars.
- Tax policy? Obama’s tax policy is, “we’re coming to get you later.”
- And don’t get me started on the healthcare bill. Because they don’t know what’s in it.
I’m just not hearing it from Mitt Romney. And if I’m Mitt Romney, tonight I’m doing two things.
- I’m making sure anybody that’s watching that debate knows that the president of the United States of the past 4 years was not George Bush, it was Barrack Obama. And that Barack Obama had two years of unfettered power to do whatever he wanted to do. He had a super majority. If he wanted to take over the NBA, he could have. But what did he decide to do? The big gigantic healthcare bill. The stimulus package which was another big slush fund. And they lied about. Remember they told you they were going to use that for infrastructure. Nope.
- If I’m Mitt Romney, I’m saying I don’t care what you say and how good you are that you created X number of jobs. Because it cost $6 trillion above what this government takes in to do your thing. And by the way, we’re 1.3% GDP. We’re 8.1% unemployment. And by the way, add back in half of the B.S. 6 or 7 million people are out of the workforce, and we’re at 10% unemployment. And that cost $6 trillion above and beyond what the government takes in. On top that I’d tack on the healthcare bill. Oh you’ve created about 150 new departments. You’ve created a panel that decide on who gets what in medicine. Say what?
And then I’d just let President Obama just yap away, blaming everything except himself.
I debated somebody today and I did not have time to answer it. He said, President Obama created 5 million jobs. By the way, last week it was 4 million. I guess this guy decide to create an extra million. And if even if that number was correct, which it isn’t, 4 million jobs over 40 some odd months, is under 100,000 a month. That sucks. And I’m being nice.
If Mitt Romney comes out and talks, it’s meaningless.
He’s gotta speak up loudly and clearly, with passion and conviction. And with meat. Because we already know about Obama. We’ve seen the past four years. We know who he is. It does not matter what he tells me about the economic front. I will not believe him. He does not care about deficits. He does not care about debt. He just cares about high taxes and growing government infinitum. That’s who he is.
So there’s my answer on the debates.
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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.