I heard it again, the other day, why aren't banks lending? Why aren't employers hiring? Why is the economy continuing to struggle? The answer is simple, but most of us, especially our elected officials, won't accept it. Ask any pitcher or quarterback' "what happens when you try to aim, or control your pass or pitch?" The answer is that it doesn't work out. They are only effective when they have confidence in the fundamentals and let the rest take card of itself. Just like the more we try to aim, or control our economy and business environment, the worse we actually make it. Today we show no confidence in fundamentals, thus we are not getting the desired result.
Most businesses will tell you that their business is doing ok, but they are worried about the future, not of their business but of us. They have no idea what congress will do next and no idea how much it is going to cost to run their business in the future. A simple yet perfect example of this is seen in the affects of recent banking regulatiom with the little discussed ATP, or ability to pay calculator banks need to satisfy to loan money.
On the surface the tool seems to make sense as it is used to make sure the person taking out the loan will be able to repay the loan. Now look at real life and someone who is not the bread winner, but going through a divorce. They can't buy a car, get a mortgage, or even a credit card, as the bread winners income can't be used and the poor person applying has no income of their own. When looked at in this light, doesn't really make sense now does it. Common sense has been replaced by, what I refer to as Congressional sense. This is just my opinion and yours is welcome here at Answer the White House Phone....
Saturday, September 17, 2011
Friday, July 29, 2011
Dipping approvals for Obama
President Obama's Approval Hits All-Time Low
by Megan Dumpe Kenworthy | July 29, 2011
Print Email Share 978 Comments
President Obama's job approval rating has dropped to a new low of 40 percent, according to the Gallup daily tracking poll.
The White House has worked double-time to get Americans to agree with their assertion that Republicans are to blame for the current debt ceiling impasse, but this new number shows the message doesn't seem to be resonating. Congress - and leaders John Boehner and Harry Reid - aren't getting good marks either.
As recently as the beginning of June, President Obama's approval was at 50 percent. It has been consistently falling since mid-July.
Perhaps a more telling number is Obama's falling favor amongst independents. Only 34 percent approve of the job he is doing. That's down 7 percent from three weeks ago.
Read more: http://politics.blogs.foxnews.com/2011/07/29/president-obamas-approval-hits-all-time-low#ixzz1TYVkue00
by Megan Dumpe Kenworthy | July 29, 2011
Print Email Share 978 Comments
President Obama's job approval rating has dropped to a new low of 40 percent, according to the Gallup daily tracking poll.
The White House has worked double-time to get Americans to agree with their assertion that Republicans are to blame for the current debt ceiling impasse, but this new number shows the message doesn't seem to be resonating. Congress - and leaders John Boehner and Harry Reid - aren't getting good marks either.
As recently as the beginning of June, President Obama's approval was at 50 percent. It has been consistently falling since mid-July.
Perhaps a more telling number is Obama's falling favor amongst independents. Only 34 percent approve of the job he is doing. That's down 7 percent from three weeks ago.
Read more: http://politics.blogs.foxnews.com/2011/07/29/president-obamas-approval-hits-all-time-low#ixzz1TYVkue00
Sunday, May 23, 2010
Obama Bullshit Bingo
Here is something to help make Obama's speeches almost tolerable.
Just print out this page, distribute it to friends, and listen... (be sure to read directions at the bottom) Rules for Bullshit Bingo:1. Before Barrack Obama's next televised speech, print your "Bullshit Bingo"2. Check off the appropriate block when you hear one of those words/phrases.
3. When you get five blocks horizontally, vertically, or diagonally, stand up and shout "BULLSHIT!"
Testimonials from past satisfied "Bullshit Bingo" players:
"I had been listening to the speech for only five minutes when I won." - Jack W., Boston
"My attention span during speeches has improved dramatically." - David D., Florida
"What a gas! Speeches will never be the same for me after my first win." - Bill R., New York City
“The atmosphere was tense in the last speech as 14 of us waited for the fifth box." - Ben G., Denver
Send us an enmail to get the actual game board emailed to you...
Just print out this page, distribute it to friends, and listen... (be sure to read directions at the bottom) Rules for Bullshit Bingo:1. Before Barrack Obama's next televised speech, print your "Bullshit Bingo"2. Check off the appropriate block when you hear one of those words/phrases.
3. When you get five blocks horizontally, vertically, or diagonally, stand up and shout "BULLSHIT!"
Testimonials from past satisfied "Bullshit Bingo" players:
"I had been listening to the speech for only five minutes when I won." - Jack W., Boston
"My attention span during speeches has improved dramatically." - David D., Florida
"What a gas! Speeches will never be the same for me after my first win." - Bill R., New York City
“The atmosphere was tense in the last speech as 14 of us waited for the fifth box." - Ben G., Denver
Send us an enmail to get the actual game board emailed to you...
Sunday, January 31, 2010
Small Business and Job Creation
Let me start by asking you a question. Would you put an addition onto your house if you had no idea how much it was going to cost? If you had no idea if the improvement to your house was going to be taxed at a different rate than the rest of the house? What if you didn't know if you were going to have to use a newer heating system and if you didn't you may end up paying a fine for everyday you didn't have the system in place? I think we would all agree the answer would be no.
This is the exact situation our small business owners are facing today. Due to the ever changing minds and focus of our administration, our small business owners can't really hire anyone, because who knows how much a new employee will cost tomorrow. Will the owner need to provide them with health benefits? Will they have to pay a higher tax on the increased productivity? What is the capitol gains tax going to look like on the investment gains they make?
With all of the uncertainty out there in the economy, it isn't hard to understand why business and job growth are not booming. Lastly, before we continue to vilify the banks, I would suggest we all talk to Bob Kelly, the CEO of Bank Of New York Mellon. In a recent interview he challenged people to do their research. Unemployment has almost doubled to over 10%, but bank lending is only down 10%, year over year. Banks would love to lend more money, that is there business. With spreads as they are, quality loans can create large profits, but there in lies the rub. Take a look at the open credit lines of small business owners. They are not using what is available already, let alone taking out new credit. In the face of the conditions I outlined above, it is easy to see why.
The same reasons I am not adding onto my house, as I had planned to, are the same reason these business owners are not expanding their businesses, too much uncertainty.
This is the exact situation our small business owners are facing today. Due to the ever changing minds and focus of our administration, our small business owners can't really hire anyone, because who knows how much a new employee will cost tomorrow. Will the owner need to provide them with health benefits? Will they have to pay a higher tax on the increased productivity? What is the capitol gains tax going to look like on the investment gains they make?
With all of the uncertainty out there in the economy, it isn't hard to understand why business and job growth are not booming. Lastly, before we continue to vilify the banks, I would suggest we all talk to Bob Kelly, the CEO of Bank Of New York Mellon. In a recent interview he challenged people to do their research. Unemployment has almost doubled to over 10%, but bank lending is only down 10%, year over year. Banks would love to lend more money, that is there business. With spreads as they are, quality loans can create large profits, but there in lies the rub. Take a look at the open credit lines of small business owners. They are not using what is available already, let alone taking out new credit. In the face of the conditions I outlined above, it is easy to see why.
The same reasons I am not adding onto my house, as I had planned to, are the same reason these business owners are not expanding their businesses, too much uncertainty.
Sunday, January 24, 2010
Time to get involved
I am not sure which "American People" the administration keeps talking about, but the outrage I am hearing has a lot more to do with the actions of the administration than with any bank, insurance company, or player on Wall Street. The administration is missing the point to what is most important to people, today.
The President continues to rail against Banks and there very existence seems to agitate him. He mentioned in his speech, "The out sized profits and bonuses," am thou the majority of banks lost money in the fourth quarter.
The President says Banks aren't loaning money, although lending is down only ten percent while unemployment has doubled. I would challenge Mr. Obama, to try to end money to the "credit worthy" right now. Most people who can pay you back, don't want your money because, who knows what the administration is going to come up with next.
Health care is a classic example of being out of touch, in that the idea we tax people who don't carry insurance, or do nothing. Wouldn't that be like taxing me because I don't smoke and don't pay four or five dollars a pack in taxes, which the government needs to support the outrageous spending? Besides, we already have care for everyone, as we all know, the hospitals have to treat you whether you are covered or not. Pay them back at ten dollars a month if that is all you can afford. The Hospitals have this already in the budget, just as banks budget for losses. It is part of doing business.
This brings me to the real frustration, as the administration continues to create very few jobs, has not disbursed the full stimulus, is talking about another one as we speak. I ask the administration to pick up the "White House Phone," listen to the people and let's actually get America working. For the rest of us. If you are not already...it's time to get involved.
The President continues to rail against Banks and there very existence seems to agitate him. He mentioned in his speech, "The out sized profits and bonuses," am thou the majority of banks lost money in the fourth quarter.
The President says Banks aren't loaning money, although lending is down only ten percent while unemployment has doubled. I would challenge Mr. Obama, to try to end money to the "credit worthy" right now. Most people who can pay you back, don't want your money because, who knows what the administration is going to come up with next.
Health care is a classic example of being out of touch, in that the idea we tax people who don't carry insurance, or do nothing. Wouldn't that be like taxing me because I don't smoke and don't pay four or five dollars a pack in taxes, which the government needs to support the outrageous spending? Besides, we already have care for everyone, as we all know, the hospitals have to treat you whether you are covered or not. Pay them back at ten dollars a month if that is all you can afford. The Hospitals have this already in the budget, just as banks budget for losses. It is part of doing business.
This brings me to the real frustration, as the administration continues to create very few jobs, has not disbursed the full stimulus, is talking about another one as we speak. I ask the administration to pick up the "White House Phone," listen to the people and let's actually get America working. For the rest of us. If you are not already...it's time to get involved.
Monday, September 7, 2009
A real "Who done it..."
Even if you aren't a sports fan this is very interesting!
36 have been accused of spousal abuse
7 have been arrested for fraud
19 have been accused of writing bad checks
117 have directly or indirectly bankrupted at least 2 businesses
3 have done time for assault
71 cannot get a credit card due to bad credit
14 have been arrested on drug-related charges
8 have been arrested for shoplifting
21 currently are defendants in lawsuits,
84 have been arrested for drunk driving in the last year
Can you guess which organization this is?
NBA or NFL?
Give up yet?
Scroll down...
Neither,
it's the 535 members of the
United States Congress!
380 laws broke for 535 members = 70%
The same group of idiots that crank out
hundreds of new laws each year
designed to keep the rest of us in line.
36 have been accused of spousal abuse
7 have been arrested for fraud
19 have been accused of writing bad checks
117 have directly or indirectly bankrupted at least 2 businesses
3 have done time for assault
71 cannot get a credit card due to bad credit
14 have been arrested on drug-related charges
8 have been arrested for shoplifting
21 currently are defendants in lawsuits,
84 have been arrested for drunk driving in the last year
Can you guess which organization this is?
NBA or NFL?
Give up yet?
Scroll down...
Neither,
it's the 535 members of the
United States Congress!
380 laws broke for 535 members = 70%
The same group of idiots that crank out
hundreds of new laws each year
designed to keep the rest of us in line.
Thursday, August 13, 2009
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