According to his own public admissions, President Obama is part of the “evil one-percenters” – those people in the highest income tax brackets. He’s one of them. Just one.
And that one person has spent one-third of our entire national debt in just one-four-year-term as president of the United States. That’s one man, fours years, and five trillion dollars of additional national debt. Sadly, that translates into $16,000 per American person in just one presidential term – and he’s asking for more. Let me ask…
Are you sixteen grand better than you were three years ago?
As my friend Billy always says, “The definition of insanity is to do the same things over and over again and expect a different outcome.”
Governments control markets and, therefore, the course of investment. To be “in the market” and completely unattached from the electoral process is to transform the relatively predictable task of investment into a high-risk gamble. Investors must take notice of current events or face getting blindsided by future events. There’s simply no reason to live and invest in that condition.
Over the past several days the president has been out on the campaign trail preaching to blindly stay the course – so reminiscent of President George W. Bush’s mindset in 2004 when he beat democratic lightweight John Kerry. But unlike Bush, Obama is scared of the enemy. He’s afraid of recession, and lacks the courage and will to get smaller in order to get stronger. And that’s what America really needs right now.
President Obama unfortunately still believes big government spending is the way to economic revival. He’s wrong. Free markets are the only path to prosperity.
But without a strong republican opponent Mr. Obama is likely to return for another four year term. And to expect the same man and another four years won’t turn into more false promises and another five trillion dollars of national debt would be insane. Let me ask…
Is it worth another $16,000 of your money – plus interest, taxes, and child support?
More of the same is bad news for markets, money, and investment. Investors should take note.
Stay tuned…