I had eight people call in and cancel their subscriptions to the Markowski Monthly last month due to my article Defying Economic Gravity
“How dare you quote my candidate in an honest manner?” where I quote Barack Obama directly in regards to his plan to almost double the capital gains rate to 28%. Gee…Sorry that your own candidate’s ideas are offensive. Which, if you think about it, is a weird irony in of itself.
“Whoops, next time I’ll mention that he can walk on water, turn water into wine, and bring John Lennon and George Harrison back to life; make Yoko disappear, and reunite the Beatles.”
I am going there again. I wasn’t going to do politics in this newsletter. Seeing that I will be attending both the Democratic and Republican conventions, I figured I will have plenty of material for September’s issue; but BHO the Magnificent, pulled me back in. On July 30, Barrack told a crowd of people in Springfield, Missouri that all we needed to do to solve our nation’s energy crisis is to inflate our tires and get our automobiles tuned up. BHO the Magnificent also stated that more oil would be saved by doing those two things than all the drilling and exploration we could do here in the United States.
My question is…Where did he get this luminous policy initiative? Off a government brochure from Pueblo, Colorado? Bill Richardson? Al Gore? Magic eight ball? A burning bush?
One of the most notable articles I did on BHO’s economic policies was when BHO issued the first draft of his economic plan back in late January of this year. It was a real page turner! I felt like I was reading something out of Soviet central planning. I could not believe that someone running for the presidency could have such horrid thoughts of collectivism grandeur. On February 14th, During an NAACP speech this month BHO repeated this sentence four times, “I’ve been working my entire adult life to help build an America where economic justice is being served. And as president, “we’ll ensure that economic justice is served. That’s what this election is about.” , one of BHO’s supporters, Quentin Hardy, from Forbes magazine appeared on CNBC’s Kudlow and Company, where Larry Kudlow read him the riot act on BHO’s grand plan for the economy, and how could he support BHO and such ridiculous policies. Hardy laughed it off stating that he didn’t agree with BHO’s economic policies either, and how it was just a primary. BHO was only putting this stuff out to appeal to the left wing base. Thanks Quentin…left wing base appeased; Dorothy’s house crushes the wicked witch of New York; nomination secured, mission accomplished! “Why is it then, that BHO the Magnificents economic policies have not yet shifted to the center?”
In my column Defying Economic Reality
Some of BHO’s economic ideas: universal health care, free college tuition, universal national service, universal 401k’s where taxpayers will match contributions made by low and moderate-income families, , I discussed BHO’s strange obsession with economic fairness. When faced with the facts by ABC’s Charles Gibson, that when capital gains tax rates were reduced, the treasury’s receipts increased. BHO was undeterred and stated that he would raise them anyway in the “interest of fairness.” Economic fairness is code for socialism. BHO’s actions and words are described by Investor’s Business Daily as synonymous with the discredited Marxist model. BHO believes government must step in and redistribute pieces of the pie.
Wage insurance, more subsidized public housing, a larger earned income tax credit for the poor, the Global Poverty Act, which will cost each American $8,000 to be sent to the third world and Africa, a living wage with $10 minimum indexed for inflation, tax breaks for employers he deems “patriot corporations” and sticks in the eye for ones that do not comply. Stanford Economics Professor and senior fellow at the Hoover Institute, Michael Boskin, puts it very succinctly, BHO reveals startling economic illiteracy in his policy proposals and economic pronouncements. From the property rights and rule of contract law foundations of a successful market economy to the specifics of tax, spending, energy, regulatory and trade policy, if the proposals espoused by candidate Obama ever become law, the American economy would suffer a serious setback.
I have made my dissatisfaction well known regarding BHO’s opponent this November. I think that several of John McCain’s positions and recent statements are inexplicable at best. For example: his inability to use a computer, his unwillingness to drill in ANWR, immigration policy, calling Nancy Pelosi an “inspiration to millions of Americans,” and most recently when he stated the “everything is on the table” when it comes to solving the social security problem. In fact, I believe that if the current economic conditions were front and center during the primaries, rather than Iraq, which is all but won, neither of these two would have won the nomination. Putting all silliness aside, I ask the question, “Is there any comparison at all between these two candidates? Can anyone please help me understand why BHO is the Democrat nominee?” If I were conducting a job interview for a new marketing director for the Watchdog on Wall Street Radio Show and if a candidate walked in whose answers to all of my questions were “change and hope,” they most certainly would not be getting the job. When fielding questions from listeners and readers regarding John McCain, and why they are not going to vote for him, greater than 90% of the time it deals with his age, and being “out of touch.” The other 10% is usually an irrational rant about Bush. Many individuals that believe McCain is too old, have, in an effort to be humorous, compared him to Homer’s Dad, Abe Simpson.
I say, I’d rather have Abe Simpson as president over Ralph Wiggum any day!
Properly inflating your tires can improve gas mileage by 3%. Of course many people already keep their tires properly inflated. Being generous, let’s assume that one-half of the total possible savings would be realized if we all inflated our tires properly; that’s a net gain of 1.5% fuel efficiency. Americans drive approximately 2,880 billion miles per year. If we average 24 mpg, we would use 120 billion gallons of gasoline in our vehicles. If through perfect tire inflation, we improved our collective fuel efficiency by 1.5% that would be 1.8 billion gallons. A barrel of oil produces around 20 gallons of gasoline, so the total savings available through tire inflation is approximately 90,000,000 barrels of oil annually. HMMM…ANWR- 10 billion barrels, Outer Continental shelf 18 billion (low estimate), oil shale 1 trillion.
So BMO the Magnificents tire inflation plan would work!
In 11,308 years!!!…
Boskin Michael Obanomics Is A Recipe for Recession The Wall Street Journal 7/29/08
Barack Obama’s Stealth Socialism Investor’s Business Daily 7/29/08
Barack Oil Plan Math Powerline Blog