For those of you who may have missed it on my profile, I was a CPA, in the business for about 35 years and a partner for about 26 of those years. I dealt with lots of people who owned businesses.
Almost every Kudlow show features at least one, and more often than not, quite a few nitwits who apparently have never been in business or known anyone who was. They say things like "The reason nobody is hiring is because of this Obama medical insurance plan and they don't know what's going on with the income tax." This is complete crap. I never knew a businessman who was overjoyed when corporate or personal income tax rates went up; but I have NEVER heard one put off hiring or just throw up his hands and give up and close his business because of something like the new medical insurance legislation or increases in taxes.
THINK ABOUT IT.
You're running a business and wondering whether to expand or not. The medical insurance thing passes, and you don't like it; but, guess what. It's going to have the same effect on every one of your competitors as it does on you, so you will all raise prices to cover the costs. Irritating? Yes. Stop hiring because I'm angry about this medical insurance scheme? No. In the end, it's not going to change a thing for me. This is nothing compared to the unions I had to deal with years ago.
Oh, my! But, that nasty ole Obama is doin' it to me agin', Ma! He's a-gonna raise 'em them income taxes, and I'm just a gonna shut the damn doors! No way am I hiring anybody nohow! First of all, none of my clients talked like that; and they didn't think like that either. Of course, they would have loved to keep sixty cents out of every extra dollar earned, but why would they not want to expand and make more money if they could only keep fifty-seven cents or fifty-six cents of every extra dollar earned? We don't need a course in logic to figure that one out, but apparently, the propaganda shills on the Kudlow show who probably get paid off by the talking point aired (maybe a little bonus from the thinktank they receive a fellowship from) find it beyond their mental capabilities.
Dispense with the product of the baloneymongers. The reason why private business isn't hiring is because it's laying off. The reason why it is laying off is that there is over-capacity everywhere, built up during the euphoria of the debt fueled boom that the Kudlowites cheered on (along with "Drill, drill, drill!"). The laying off causes even more decreases in consumption, which require more laying off; because it takes awhile for the oversupply to burn off and come down to the level of receding demand. This is called a recession, or a depression, if it's bad enough. THAT'S why people aren't hiring, not because dat big ole meeaaaan wolf Obama is a gonna pass commoniss medical insurance and tax all may monneh away.
I was watching the Kudlow show on Thursday night, and every time one of the heads on the multi-head screen picture started to say bad things about where we were headed, they were interupted and shouted down by this screaming bow-tied anus up in the right hand corner in the most abrupt and rude manner, or the shrill shriek ("They let me fill in for Larry, and dammit, I'm going to keep this show positive about America!") of the female anchor would cut through like a knife to cut down any dissenters before they could get through their second sentence.
Oh, well. What's new about that. King of the Talking Anus Clan, Art Laffer, has made primitive intellectual bullcrap economics into an art form, an invisible art form, you might say, except for his appearances on the Kudlow Hour of Crap, because that stuff that he and his fellow Neocon nitwits SAY happened when his Laffer principles of economic stimulus through budget deficit induced tax cuts never DID happen. The opposite happened. We had huge deficits.
Even though he is a complete shill, you have to enjoy a guy as likeable as Larry Kudlow, though. He's like a carnival barker who's got a little smirk on his face, and he's so much fun that you just feel so HONORED that he's picking you to put the con on. He may have to move out of the country after the recession/depression really gets going; but I'm sure he won't have to worry about where his next meal is coming from.
The BP oil spill thing is an environmental disaster. Okay. Let's just try to get past the human and biological tragedy for a second (think like Anus Clan Minister of Infomation, Rush Limbaugh, if you can) and figure that the result will be laws that curb drilling on U.S. soil or areas around our coast we have sovereignty over. This is going to preserve what is left of our domestic oil supply, while we, courtesy of G.W. Bush and Dick (if ever there was a Dick) Cheney, now have the mid-east secured. We're going to do a little immitation Israeli ball squeezing (while they scream quite theatrically and their somber Senator intones sonorously about where we're headed); but our arab buddies trust us more than they trust the Chinese and Russians, and they have to make a deal with somebody.
Ever heard of an arab thinktank? Me neither. It's like the Swedish Comedians Hall of Fame, a non-existant destination. (Yeah, yeah, I know about the number system, but it's been awhile, hasn't it?) They need a friend who can make things go boom, and we've proven ourselves capable of suppressing their population so they can stay in power and we can get the oil we need so eco-hippies can throw their mountain bikes in the back of the truck and drive up into the mountains on a trip that generates pollution from the burning of unnecessary fossil fuels (truck: mountain: gas: git it?).
THAT'S the reason why the Chinese are threatening to keep those rare earth metals away from us we need to make the siliconi pepperoni chips that power the world generator or whatever. We're tying a big stone around their neck by making it hard for them to get oil, expensive for them to get it, having to buy and transport if over long distances.
That's all for now. I always like to leave people a little hungry; but I'll give you a chance to watch something that will make your mind go "Schwaannnggg!" There is an incredible interview on the Charlie Rose Show of Jim Chanos, famed short-seller who got the ball rolling from the analyst side on Enron and has some AMAZING things to say about today's situation and China's future, etc. It's at http://www.charlierose.com/view/interview/10960
Bobzillah Killah
HOW DO YOU KNOW
13 years ago
Gee, that's swell.
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