The Two Scariest Government Charts
It’s Friday in the Wall Street Daily Nation!
For the newbies, that means it’s time to embrace the adage that “a picture is worth a thousand words.”
I select a handful of graphics to put important economic and investing news into perspective for you.
And this week, I’ve got a singular focus: Washington, D.C.
Enjoy!
Curb Our Spending? NEVER!
For the first time in four years, Senate Democrats released a budget resolution.
I get why they didn’t really rush. I mean, who needs a budget when you don’t have a spending problem?
Oh yeah. We do have a (huge) spending problem.
Don’t we have a massive debt problem, too?
I can’t remember, because a certain someone (residing at 1600 Pennsylvania Avenue) recently said, “[We] don’t have an immediate crisis in terms of debt. In fact, for the next 10 years, it’s gonna be in a sustainable place.”
No spending problem. No debt problem. Well, then it should come as no surprise that this historic budget resolution increases spending by about 60% over the next decade.
The end result? Get ready for a fiery and drawn-out debate. I say that because the competing budget proposals from Republicans and Democrats are miles apart on how they should address our fiscal problems.
As they duke it out, let’s just hope the market largely ignores them again – much like it did during the Fiscal Cliff debate.
Move Washington, Get Out the Way
I know it might be taboo to talk politics and finance. But at this moment in history, Wall Street and K Street intersect too much to ignore.
And here’s the key message that politicians need to get: The market just wants them to move and (as Ludacris eloquently raps) “get out the way.”
Case in point: The NFIB Small Business Optimism Index for March revealed that the biggest concern facing small businesses is still Washington!
Readings for government regulations and taxes checked in at 21, the same level they rested at one year ago.
Bespoke Investment Group puts the data into perspective best: “For every small business owner who cites poor sales as the number one problem with their business, there are more than two small business owners who cite issues related to Washington as their number one problem.”
And Bespoke adds that “one can only imagine how much better off the U.S. economy would be if politicians just got out of the way.”
Amen! Forget imagining it, though. Here’s hoping that we actually get to witness it happen.
That’s it for this week.
I’m sure I ruffled someone’s feathers, today. So speak up and let me know how despicable I am for daring to mix politics and finance.
In all seriousness, we cherish your feedback and want to know what you think of this weekly column – or any of our recent work at Wall Street Daily. So go ahead and send us an email to feedback@wallstreetdaily.com or leave a comment on our website.
Ahead of the tape,
Louis Basenese
Related Topics: Economy and Politics, Market Analysis, U.S.
Mr. Basenese and I think a lot alike!
I read something online today that sums up very nicely all of our present problems, and it’s definitely NOT a joke; it goes like this;
“How To Catch Wild Pigs”
Wild pigs LOVE corn; so spread out a few bushels of corn in a forest. Wild pigs will find the corn and start eating it; after a day or so, build short fence, maybe 50 ft long, and put more corn beside the fence; the wild pigs will become accustomed to the fence in no time, and will continue eating the corn; after a few days, build another 50 ft fence parallel to, and 50 ft from the first fence; the wild pigs may squeal a bit, but they’ll get used to the two fences in no time; put some more corn between the two fences, then build a third fence connecting the ends of the first two fences, and keep putting out more corn; wild pigs LOVE corn, so keep putting out more corn, and after a day or so, build a fourth fence (with a gate in it), and be sure to leave the gate open; in no time at all, the wild pigs will be used to the fence, and will be busy gobbling up all that free corn; the next day, close the gate quickly and lock it; the wild pigs may squeal a bit, but they’ll keep right on eating that free corn;
My observation is, the liberals have been building a fence around the American people now, ever since before I was even born and I just turned 80 in December.
My prediction is, sometime during the next 3 1/2 years, the present “administration” is going to “close the gate”;
My question is, “what are all of the wild pigs going to do when all of the “free corn” is gone ?”
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Grandpa Dave Reply:
March 18th, 2013 at 10:58 am
And there you have it… WELCOME one and all to the Nanny-States-of-America.
Gimme, Gimme, Gimme… I want all that free stuff right now. Those evil rich don’t deserve all that wealth. It is high time to redistribute OPM.
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Not a bit! Just shows you how dumb and mendacious politicians have become!
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I very much want to hear your opinions, whether I agree or not. The primary reason is that your thoughts help me better understand your philosophy regarding markets, government intervention, trends, etc. and identify whether or not your recommendations are right for me. In addition, I am exposed to information to which I may not have had access. So, bring it on.
I would also like to add that as a member of MicroCap Tech Trader I am very grateful for your extensive research and systematic approach (the importance of patents, etc) as yours is the first service in which I have actually made consistent financial progress. I have been a subscriber for only a short time and my profits are still on paper but I see positive results and a bright future. Thank you for you love of what you do and the willingness to share the skill/knowledge with others. I remain hopeful that your work will brighten my retirement.
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I’d like to slap these charts engraved on thick leather on the faces of all the low-information Obama voters and those who aided in voter fraud to reelect a fraud. The floor to ceiling Obamacare stack of pages are surely evident of this evil tax increase on the people.
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If we all (the rationally thinking people of America) know this, maybe we need to get a little louder, and be more insistent that our citizenry get informed, starting with the people around us, and maybe then we will begin to elect people who understand the problems, and see the clear solutions as we do.
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