11/05/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

Byaaronmat-admin

https://archives.warpradio.com/btr/InvestorsEdge/110518.mp3

JUST LETTING YOU KNOW

My take is that Romney’s going to win Florida. If Romney wins Pennsylvania or Ohio, he is your next president. If he wins neither, I’d say that Obama will stay as the president for the next four years. It is that nip and tuck.

I really don’t believe in the polls. A lot of these polls, just so you know, they’ll say “Obama up by one,” but the sample is +9 for Democrats. What kind of a freak’in poll is that?

It’s like polling the parents of woman that in Miss USA contest. Who are they rooting for? Ooh! 100% of the people were rooting for her. Anyway, you get my point.

Again, I have a thought process behind this election and it’s pretty much one-fold when it comes to you and your money. We have, in the past two presidencies – George Bush who ran up the deficit in eight years to the tune of about $4 trillion – and then we have Mr. Hyperdrive with deficit, Barack Obama where the deficit is up, give or take $5.5 trillion in less than four years. And all I am looking for is somebody that will:

  1. Cut government spending.
  2. Get deficits under control.
  3. Put certainty back into the business owners’ minds on tax policy, regulatory policy and no waffling policy.
  4. Wipe political and financial cronyism off the face of this Earth…the cronyism in which, if you are a big donor to a candidate, you get a big government grant for a company that doesn’t even exist. And then, within a year or two, you’re bankrupt and everybody’s asking why. The type of cronyism where Al Gore now has a net worth of $100 million, up 80-fold over the past few years because he got $1.5 billion in government grants for his Green companies. The type of cronyism where, when the Republicans were in power, giving contracts to the Republican donors for the war in Iraq. The type of cronyism where John Corzine commits a felony a MF Global and there’s not even an investigation because he’s a big donor and a good friend of these politicians.

That’s what I’m looking for. We did not get it in the past four years and, in fact, it’s only gotten worse. President Obama lied to you and I about who he is and what he’s going to do.

And here is my worry. Listen up.

Four years ago, after President Obama was elected, I will paraphrase what I said.

I wish him well. I hope he’s going to attack the deficit like he said he would. But here is my problem with the man. Every one of his associates, all of his friends, were radical leftists, socialists and some bordering on communists.

They hired Van Jones in the administration. He says he’s a communist. And ABC has him on every week. Go figure.

My worry is that if the president wins again, you won’t have to worry elections any more. Here are my predictions:

  1. You hear that he wants to raise the taxes on the privileged few from 35% to 39%. I will guarantee you he’s going to go for 50%. And that does not include state taxes. He will go for 50% and he’ll blame it on everybody else and say the deficits blew up because of others and we have to tackle the deficits and this is the way to do it. You have my word…a minimum of 50%.
  2. They will go for Cap and Trade, the maniacal, ridiculous, moronic Cap and Trade, where if you put out too much carbon dioxide, you have to buy carbon credits on exchange. You know who’s going to get rich on that? Goldman Sachs. So you know where I stand because I’m a big believer that the proof is in what you see, not what you hear.

Now, on to Mitt Romney if he wins:

I don’t know. I’ve heard what he’s said, but he’s given me no specifics. He’s says the right things for me…that he will tackle the deficits and government spending. He says he will get out of businesses’ way and cut taxes, which is what should be done. And make government more efficient, which also is what should be done. But do we even trust him? I don’t know.

For me, though, I want to give the new guy a chance. That’s how I’m looking at this. And we’ll see how it plays out.

Last week I predicted that Romney would win.

I must tell you that in the past few days, it has tightened up.

Whoever gets the best turnout will when. That’s what it comes down to.

And we’ll take it from there.

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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.