When you see that in order to produce, you need to obtain permission from men who produce nothing;
when you see that money is flowing to those who deal not in goods, but in favors; when you see that men
get rich more easily by graft than by work, and your laws no longer protect you against them, but protect
them against you…you may know that your society is doomed. ~ Ayn Rand – From: “Atlas Shrugged”
Reports today (Hollywood Reporter) indicated drama at the GE Annual meeting today (April 22, 2009) over bias at MSNBC including having microphones cut off.
As members Obama Administration and Democrat Party are fond of saying, “No crisis should be wasted” and this is a perfect one to not waste. As of close of market today, GE’s market cap is approximately $124.61 billion. 50% of its market value is $62.305 billion. A great time to buy control for 1/5th or so of what it would have cost a few years ago. Don’t waste the crisis!
If 1 in 5 non-Obama voters (about 59 million total votes, so 11.8 million) each went out and switched $6000 of their retirement savings from an S&P 500 mutual fund or other stock into GE, that would be more than 50% ownership of the corporation, even assuming no non-Obama voters already own any shares. Bias could then be eliminated via shareholder vote. GE should be standing up for freedom, not bowing to the advocates of government control.
Take back GE for Freedom!
After the meeting Jeff Immelt said “My job is to listen” [to shareholder frustrations]. Actually Jeff, your job is to run the company and protect its franchise.
Some of the signs from the tea parties across the United States earlier today:
Spread my Work Ethic, not my wealth!
Change…giving freeloaders some of what YOU have worked hard for!
Help me Obama, They want me to work and stuff!
Cut taxes, not deals
What part of “limited powers” do you not understand?
It’s my birthday, and all Obama got me was more debt!
It’s my birthday, and all Obama got me was more taxes!
Why make a corrupt government even BIGGER?
Why should I pay for your bad decisions?
Party like its 1773
Obamanomics – Trickle up poverty
Term Limits for Congress!
A government that robs Peter to pay Paul can always depend on the support of Paul. George Bernard Shaw
No tax cuts for non-taxpayers!
Cut taxes, NOT more deal$
Freedom Works! Continue reading Tea Party Slogans
President Obama referred to stocks being a good buy yesterday because of their “profits to earnings” ratio.
Now usually one uses a price to earnings ratio since in general profits and earnings are usually equal.
“What you’re now seeing is a profit and earnings ratios get to the point that buying stocks is a good thing if you have a long-term perspective on it,” President Obama, after meeting with British Prime Minister Gordon Brown.
One does not have to wonder how this will be picked up by the press – if it were President Bush, it would be the subject of jokes.
Perhaps that is why we have a nearly 20% decline since Inauguration day.
“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.” Op-ed for The New York Times, “Buy American. I am.” October 16, 2008, Warren Buffett
While Buffett is wrong about some things, he is right about this. It just may take some time.
After noting that wealthier Americans would indeed pay more taxes, Biden said, “It’s time to be patriotic … time to jump in, time to be part of the deal, time to help get America out of the rut.”
Joe, two questions for you:
First, how patriotic have you been in the past 20 years? Have you been paying extra taxes to be patriotic?
With all the grousing about the AMT (Alternative Minimum Tax) and the plans to ?¢‚Ç¨?ìdo something?¢‚Ç¨¬ù about it, the following factors must be considered. Charles Rangel, Democratic Chairman of the House Ways and Means Committee?¢‚Ç¨‚Ñ¢s plan is to raise taxes (don?¢‚Ç¨‚Ñ¢t worry, you won?¢‚Ç¨‚Ñ¢t be left out) elsewhere to ?¢‚Ç¨?ìpay for?¢‚Ç¨¬ù reducing the AMT. First, Charles, you don?¢‚Ç¨‚Ñ¢t have to borrow money to ?¢‚Ç¨?ìpay for?¢‚Ç¨¬ù a tax cut. You borrow money to spend. Everything else is just dissembling and an attempt to confuse people. Power-hungry politicians love to use words like that Continue reading AMT, Republicans and Socialist Charles Rangel
Michael Moore, please call your office ?¢‚Ç¨‚Äú or the church. In a stunning move, the very liberal Episcopal Church unintentionally repudiates Michael Moore?¢‚Ç¨‚Ñ¢s manipulative movie Sicko.
As is typical for the Episcopal Church, the Church again injected politics into the pulpit, at least this time, it was something that people could -and should- do to help.
The statement begins: ?¢‚Ç¨?ìImagine waking in the middle of the night with a raging fever and sore throat. Or even worse, your child wakes up feverish and covered in chicken pox. Now, imagine there is no aspirin, Tylenol, or Benadryl in your home because these products are simply not available for purchase in your country. For our brothers and sisters in Cuba, this is everyday life.?¢‚Ç¨¬ù Continue reading Sicko Michael Moore and the truth about Cuba
Echoing his comments in June, Warren Buffett is complaining about tax rates as being too low. The relevant question is: has he done anything about it or is he just being a hypocrite, again?
Let?¢‚Ç¨‚Ñ¢s see what Buffett has actually done instead of said: Buffett is giving away is fortune (http://money.cnn.com/2006/06/25/magazines/fortune/charity1.fortune/). Good for him, great choice, it is nice that he has the right and freedom to do as he sees fit with the money he has earned. Too bad Buffett doesn’t think that others should have that same freedom.
What precisely is Buffett doing? He is giving his fortune to tax-exempt foundations. So, if you REALLY want to pay more taxes, Warren, why do this? Continue reading Buffett says taxes are too low, but doesn’t pay more himself