Opinion

Arnold’s Ramblings 10-12-2011

I believe the termination of Hank Williams Jr. last week by ESPN for “comparisons to Hitler” by Williams of President Obama, to have been a correct decision. I believe that NO American President should be compared to Adolf Hitler, since no American President has caused genocide, killing between 15 and 20 million people. Yet it appears that it is not alright to compare President Obama to Hitler (which it is not); yet it was alright (and still is) to compare former President George W. Bush to Hitler; and it is also alright to compare the Tea Party to Hitler. Ha? How many millions of people have the Tea Party killed? For what genocide is the Tea Party responsible? We can disagree about policy without making it personal; yet on the far left, this does not seem possible. If I do not agree with a Progressive, that makes me stupid or uninformed. If the name calling does not work, then the rhetoric becomes more and more heated. This is unfortunate. We as country will never resolve anything if BOTH sides refuse to make concessions. The usual form or negotiation proposed by Progressives is, “Do it our way. Period.” This is not negotiation.

I also agree that the Republican candidates should have shown support for the gay soldier serving in Iraq who asked a question a couple of weeks ago at the Republican debate. President Obama was correct to chastise the Republican candidates for their non-comment (in this case). But, President Obama should also be chastising Democrats for their vile attacks on Republicans (see above). Not only because of the “Hitler” comments, but all vile, repugnant, vicious, hideous, offensive comments made. Yet, somehow, the only ones chastised are the Republicans, not ever the Democrats.

The “occupy Wall Street” protesters are compared to both the Tea Party and the 1960’s protesters. In terms of the 1960’s protesters, that protest movement was based upon not being drafted and fighting in the Vietnam War. The participants in the ’60’s protest movement clearly understood what it was that they were protesting, unlike this group which does not. There were no sponsors nor free catered meals or free alcohol. The media and the government in the ’60’s opposed the movement in all aspects; unlike today, both the media and our president seem to favor it. The Tea Party is and was not a protest movement. The Tea Party did not violate any laws, were always properly permitted for assembly and in no time was there any violence or threats of violence; nor were there any clashes with the police.

Attacks by President Obama and Sen. Dick Durbin, D-Illinois on Bank of America’s $5 charge for debit cards belies three huge issues:

  1. 1. Suntrust is charging $5 and Regions Bank is charging $4 – but no one mentions them.
  2. The reason the banks are increasing fees is due to financial regulations the wonderful Dodd/Frank creation passed by Congress, which reduces income to American banks by upwards of $75 billion a year, and keeps growing as more and more aspects of the new law are known.
  3. And finally, as both the president and Sen. Durbin encourage people to stop dealing with Bank of America; ultimately that will cause more layoffs.

FinReg, as previously mentioned in Arnold’s Ramblings, will definitely benefit consumers,; but at what cost? Arnold definitely agrees with some of the aspects of FinReg; such as not allowing 6000% per annum pay check loans, and all of the other 30% to 100% interest rates for really bad credit. But of course this will also lead to significantly reduced sales of furniture, cars and other high end products which will be unavailable to people who have poor credit. Arnold believes that in the long run, that is a good thing; but Washington only looks at the economy on a daily, weekly, monthly basis, so this reduced sales activity will reduce GDP in the short term and that is bad.

  • The DJIA looks higher, though it seems that the market should have gone lower before going lower.
  • Gold appears to have topped, but may have one final move up before peaking.
  • Interest rates continue to be abnormally low; and should start to rise soon.
  • Oil rose up above $80, and we will need some time to determine whether oil is headed higher again.
  • The dollar continues to look higher, and should continue to rise.
  • Real estate prices are still falling and delinquencies are starting to rise again.
  • The economy still looks weak, but the 4th quarter may show major strength.

Arnold

Disclaimer: Arnold’s Ramblings Inc. and/or its writers, representatives, employees, shareholders, executives and affiliates may have a financial interest in any security recommended to readers or otherwise mentioned. Nobody associated with this website or Arnold’s Ramblings Inc. is a registered investment advisor. Everyone should review investment materials in detail and with due diligence when possible, and should consult proper counsel prior to investing. All information and advice presented by Arnold’s Ramblings Inc. is believed to be accurate and reliable when posted, but cannot be guaranteed.

Copyright 2011 Arnold’s Ramblings Inc., All Rights Reserved.

Arnold Goldin

Prior to 1980, Arnold Goldin worked in various publicly held companies rising to the position of Assistant Corporate Controller of US Surgical Corporation. From 1980 to present, Arnold has served as President of Arnold S. Goldin & Associates, Inc. (and related and associated entities), providing accounting, tax and management services functions to individuals and corporations throughout the United States. Since 2002, Mr. Goldin has also written an e-zine related to geo-politics and finance, which can be found at arnoldsramblings.com.

The views expressed are those of the writer and do not necessarily represent those of BIZPAC Review, its management, staff or advertisers.

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