|
 |
|
|
Let's send Congress on a Long Vacation
By Jim Odom
Many people are looking to Washington for fixes to all our problems. The economy is in a recession...ask Congress to fix it. We need free health care...ask Congress to fix it. Many large financial institutions are on the verge of bankruptcy...ask Congress to fix it. My toilet is backed up and I can't afford a plumber...ask Congress to fix it. (OK that last one has not been proposed...yet) I have a new and better idea. Let's give Congress and the President an extended vacation. In my opinion, the current recession would be over by now if they had done NOTHING. Jobs are created by small businesses and the private sector. Why are business not hiring? Two reasons: 1. They are not getting enough orders or sales to justify new employees; and 2. There is too much doubt and uncertainty about how new Governmental rules will affect them. Imagine a football game where the referees change a rule after every play. Time would be called and the new rule explained to both benches and then play would resume. Certainly it would be feasible, but at what cost. Players had been recruited and trained to play at their best level based on existing rules. Constantly changing them would create a game that no one would want to watch, let alone play in. The one sector of the economy that had been doing well the last 12 months was the banking and financial sector (Outside the Government that is). Last week, Obama proposed sweeping regulatory changes that would adversely affect their ability to make a profit. Since then, the stock market has dropped 3 consecutive days and has had the biggest weekly loss since the March lows. Now I am not saying that new regulation is not called for. Congress repealed Glass-Steagle a few years ago and these new proposals are basically re-instating Glass-Steagle. Regulation changes cause uncertainty and uncertainty causes business to pull back on their investments. Even individuals take the same action. If you are not sure about what the new regulations are going to be, the best action is to sell off your portfolio and keep your cash in gold or under the mattress. Now there is talk that Congress is considering not re-confirming Ben Bernanke as Fed Chair. A move like this would make already nervous investors even more jittery and send the Market into a bigger tail spin. I am not necessarily a big fan of Bernanke, but a move like this would be catastrophic right now. Let's send Congress on a LONG vacation
|
Contributor's Note
It could be paid time off
|
|
PLEASE VISIT THE CONTRIBUTOR'S WEBSITE
No reactions yet.
Please login or sign up to rate this intel.
Please login or sign up to add a comment.
We definitely need regulations on the crooks at the top of the banks and insurance companies, Jim.
There will be some extra pork in the Senate barrel for the remainder of this term.
Keep up the good intels, maybe we'll do some good.
Frederick
CONTRIBUTOR'S REPLY
We definitely need regulations: Glass-Steagle should never have been revoked for one. Now is just not the TIME to start imposing new regulations and especially new taxes. The economy is still very fragile and needs less taxes right now
The copyright for this content entitled "Let's send Congress on a Long Vacation" has been specified by the contributor as:
All Rights Reserved
This content may not be copied, distributed or adapted by anyone under any circumstances.
|
 |
|
This intel was contributed by Jim Odom
Jim Odom
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
