11/06/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

Byaaronmat-admin

https://archives.warpradio.com/btr/InvestorsEdge/110618.mp3

JUST LETTING YOU KNOW

I watched the tube today. I watched the Democrats say, we’ve got this locked up. I watched the Republicans say we’re going to win big. I saw the polls and I gotta tell you it ends up almost being meaningless. As I told you on my radio show, in the Bush – Kerry race, exit polls had Kerry and he was congratulated on being the next president. It turned out that the sample polls were a bunch of single women that were all going for Kerry.

I don’t trust the media.

I don’t trust the polls.

The proof is going to be today. It’s not even going to be the popular vote – it’s the Electoral College. And it’s as simple as this. If you see Virginia or Florida go for the president, I think it’s over. If you see them go for Romney, he’s still going to need Ohio or Pennsylvania. If one of those states go Romney, we have a new president.

All I can tell you is the same thing I’ve been telling you forever. Republican president…Democratic president…should not define you or your life. Unfortunately, in the past few years we’re having a lot of that, because of so many giveaways and so many checks handed out to people, instead of getting them jobs or teaching them on how to get jobs. We’re “blank” backwards if you ask me. I’ve already said my piece on what I think. Mitt Romney is an unknown. Simple as that. I have no idea what he will do.

I know what Obama has done over the last four years. You get to decide if you like it or you don’t. But I’ll tell you want I don’t like. And I’ll tell you what I wish…that some of these people on the right and the left just shut the hell up.

To watch people like Michael Moore today insinuate that if you’re not voting for Obama, you’re a racist.

This is what these people are doing. They’re on TV and the web and calling you a racist if you do not vote for President Obama.

As much as I want a certain outcome, I respect all. Except for the ones that say I’m voting for this person and I don’t have a clue about what’s going on.

As you know we’ve been talking to you about how the election could affect markets and you.

First off, this is no secret.

  • Under President Obama, taxes will be going up.
  • Under President Obama, deficits will continue to go up, at least a trillion a year.
  • Under President Obama, expect more government involvement in many things.

You get the hint.

Under Romney, we can only go by what he says. I don’t know if I believe him. But he says:

  • He wants to lower taxes for everybody.
  • Make the tax code more palatable.
  • Drill and get more oil and more oil-independence for us.
  • Regulations…too many…killing business. Just more certainty.

We’ll see how it plays out.

The president has not been campaigning on deficits. He’s been campaigning that we need everybody to be under the same rules – that it’s not been fair.

Well, you know what I think where it’s not been fair.

  • Wall Street, no indictments.
  • Still nothing on John Corzine, right?
  • Not one person from Citigroup in jail.
  • Friends of Obama getting government grants for crappy Green companies that never have a chance to make it.
  • But for me, my hot button is and will continue to be the $16.2 trillion that we are now in debt.

I have watched how many have said, well it doesn’t matter. I got an email in the past couple days from somebody who said:

Gary, does it really matter how much debt the country owes? Can’t we just go to $50 trillion in debt? How will that affect things?

Oh boy. Just remember. Government’s like a business. They bring in about $2.5 trillion a year. We’ve been spending $3.6 trillion a year. The next six years of our tax dollars have already been spent. Thank you Barack Obama. Thank you George Bush.

How does this affect markets?

Well, it hasn’t as of yet because our Federal Reserve has been printing money to buy up the debt. In case you don’t know, the Fed has bought up 60% to 70% of our government bonds over the past year. I don’t know anyone else who would at these levels.

So we have an incestuous cesspool of people that are using money they don’t have, never earned, and created out of thin air, in order to further their causes and agendas. But it’s just doing nothing more than going down a rat hole…and doing nothing for nobody.

But now come the taxes. The fact of the matter is that all that debt gets paid off by us.

And you may think well, they want to raise taxes on the wealthy. Well, let me explain something. When you raises taxes on the wealthy, you are raising taxes on the middle class. You are raising taxes on the bottom class. It’s simple as that. A deficit is a tax on everyone.

And if you are going to tax business more, I got news for you. You’re going to tax the middle class more because prices will go up and employment will go down.

That’s a big tax.

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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.