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Posts Tagged ‘Obama care’

The more I hash over the economic issues, the more I am convinced there is only one way to fix the problem.  Revamp the tax code…meaning throw it all out!  When I was advising high net worth clients, they had armies of people helping them avoid taxes.  The richer they were, the bigger the tax returns, trust documents and shell corporations, to hide income. Why do we need to do all that?  Because we have a huge industry of lawyers, accountants and specialists that would be out of business.  These folks make a lot of $$$  (and vote) and it won’t be easy ripping that income away from them.  Until you make it easy to pay taxes you will have problems collecting and maintaining your base because people come up with new ways to avoid paying.  Make it easy.  Everyone pays something. Lay offs for the IRS , Lawyers and Accountants are your only downside.  What’s wrong with that?

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1- Why do we keep discussing the post office and their antiquated service and bloated budget.  Sell it to someone that can make it work.  The employees are overpaid and this program is a luxury we can not afford anymore.

2- Why does everyone wait around for the Fed to do something?  They are only printing money like toilet paper and keeping interest rates at all time lows.  Hey Fed! Do nothing…the market will adjust better by itself.

3- The stock market is a speculator driven free-for-all casino gambling institution. Beware!

4- The past week of interviews has totally convinced me that unemployment will be high (north of 8%) for the foreseeable future.  Companies will only  hire  folks that can add value on day one.  Temping will become even more practical as business deals with increased cost associated with employees.

5- Obamacare is a HUGE contributor to unemployment.  Companies are not hiring because they are concerned about the costs associated with a big Gov’t program.  Sorry liberals, this deal is an economic ‘killer’.

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Regardless of your political party, we all have been battered with advertising that is over-the-top and juvenile.  It is pretty much a given that the Republicans are going to win the House and I wanted to throw out some predictions on what that is going to mean for employment and the economy going forward.

1- If you run a business,  you will have at least 2 years of “Gridlock” to make proper plans.  No more bailouts, mandates on big items like health care, just good old-fashioned partisanship ( If you don’t think gridlock is good..see Reagan, Bush 1, and Clinton time periods for the benefits).

2- Heath-care plan will get gutted and rewritten.  Since it needs to be funded..expect a hold-out for changes..good for small business.

3- President Obama will fight to the death against the Republicans and vice versa….lots of muscle flexing and posturing.

4- Nothing will be done on the deficit..see reasons above.

5- Economy will recover more in the next 18 months than the prior year.

6-More hiring, but employers will be more particular on the applicants.  Have felonies, criminal DUI’S, sloppy work history, drug misdemeanors..Going to be rough for you.

7-If you live in Arizona, expect our economy to lag the national numbers and our continued focus on items that do not produce income,  jobs, or better infrastructure.

So lets recap..Gridlock Good, Economy better, and unfortunately only 1 more year til they start running those political ads again.

 

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Some times it is hard to make a whole post on one item…so I am just going to combine a few.

Employment

We interviewed over 150 people this week and I was pretty happy that I was able to find some good candidates for customers.  Some applicants waited for up to an hour for an interview and were still pleasant when it was their turn.  However…some still arrived:

-Without taking a shower

-Smoked/smelled like the cast of Mad Men

-Forgot id’s, motor vehicle records, pen

-Hats backwards, facial piercings

-drinking any water..One guy filled up a gallon jog of our bottled water

People will need to sharpen their skills if they want to find a job in this market.  One thing that bothers me is some people are very happy getting unemployment and won’t do anything unless it is a substantial raise over doing nothing.  That is bothersome.  I think Ben Franklin said something about ‘making poverty too comfortable”  it applies here.

ECONOMY

What is my biggest worry about the economy?  That after we have gone into tremendous debt, more government mandates (Obamacare), two wars and a huge amount of unemployment…we will again slip back into a recession early next year.   Half the country is not paying taxes and we have more than doubled our debt…That math just doesn’t work.  Inflation could be a huge problem.   Propping up bad financial institutions makes it hard for borrowers to ‘horse trade’ their debt down..causing the real estate market to continue the flounder longer than necessary.  And the stock market..what is fueling that? Speculation.  Expect a correction.

JIBBERISH

Any one who reads my stuff regularly knows I can’t stand banks and investment brokerages.  I was in both businesses for a long time and I would be ashamed to be associated with any of them today.  One point…If i robbed the 7-11 for a couple hundred bucks..how much time would I do?  3,5,10 years?  Why is Bernie Madoff the only guy in the can.  Where is the prosecution of WAMU, AIG, Bear Sterns, and Lehman Bros.  These jerks stole BILLIONS and are walking free.  They almost wrecked our country.  Good thing that shoplifter is going to prison though.

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