Third Debate: More Upside Romney Momentum

Published: Fri, 10/26/12

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In This Issue:

America’s Job Creaters Already On Strike By Richard C. Young
Democrats Are Not above Making Things Up By E.J. Smith
Third Debate: More Upside Romney Momentum By Richard C. Young
Jeff Flake: Patriot, Reformer The Editor
Focused On The Issues By Steve Schneider
Lies, Deception, Cover Ups & Political Haymaking By Richard C. Young
VIDEO: Must-See Interview Exposes Reason for Libya Attack The Editors
Tom Smith for Pennsylvania The Editors

Young Investments Client Letter: Sign up to get the letter mailed directly to you by clicking here.
September Client Letter: Will Fed Exit from Unconventional Policy Tank the Economy?
The potential for a disorderly exit from the Fed’s inflated balance sheet is especially worrying. Never in its history has the Fed injected so much high-powered money into the financial system. Bernanke & Co. have zero experience exiting unconventional monetary policy. Will the Fed be able to successfully wind down its balance sheet without first letting the inflation genie out of the bottle or causing another recession?– Read more at Younginvestments.com.

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America’s Job Creaters Already On Strike

The America you grew up in will disappear if Barack Obama is elected for a second term. The nation’s small business job-creators—my clients—are already Atlas Shrugged-like, ON STRIKE. Don’t Americans realize that our country’s job-creating engine is stalled in fear of another four years of the Obama administration?

No Americans suffer more in a mismanaged economy then do the unemployed. Look at the best measure of unemployment misery. It’s a simple gauge that measures the average length of employment in weeks. In my lifetime, the normalized peak during periods of the worst economic mismanagement has been about 20.

This frightening display shows that the weeks of unemployment gauge under Commander Obama has soared to an unforgiveable 40 weeks. That’s twice past peaks. Barack Obama cannot blame George Bush for today’s unemployment debacle. No, the complete nasty unemployment run up has been on President Obama’s watch. How the man can ask Americans for four more years of this beats me.

A second worthy gauge of the health of employment in America is the number of non-agricultural employees in goods-producing industries.

After a full four years of pedal-to-the-metal money printing, only a most sad mini-bounce has been recorded. Throttle back on the money printing and watch what happens.

Just who is at fault here? The team that jammed Obamacare and Dodd-Frank down American gullets is at fault. And the complicit facilitators at the Fed deserve equally foul marks. Obamacare and Dodd-Frank need to be repealed and the Fed shuttered.

The Obama crowd has spent and printed like never before in the history of America. And what is the pay off for your children and grandchildren? How about a veritable mountain of debt. And do not blame George Bush here, President Obama. The catastrophic explosion of debt has happened on your watch. You need to take the blame and explain to Americans how you plan to pay off this debt?

One revealing place to look for recovery in a normal period of economic expansion is the construction industry. America needs fixed capital investment in order to fuel growth. Check out my display! Takes your breath away, does it not? But look hard and you will see the mini Obama bounce. What a travesty.

Finally, let’s see how the manufacturing industry is doing with growth and renewed gains in employment. As my display clearly shows, all upside momentum has been lost. The trend is clearly down.

President Clinton, with a straight face, tells Americans that the country needs four more years of President Obama so that the president can finish the job. First, I find it hard to believe that Bill Clinton wants four more years of the deeply over his head Barack Obama. Second, even a schoolchild can look at the charts and imagine the horror if these charts were extended for four more years.

Am I being unfair here? No, Barack Obama and team are at fault 100%. How the man was able to squirm through a debate on the American economy is a mystery. Americans were not delivered the knockout punch deserved, and President Obama was let off the hook. I hope that when a wide swath of the voters understands what is outlined here, the true message will see the light of day.

President Obama is completely devoid of background on any subject that would have helped him right the ship. He has never held a meaningful job in his life. He has never met a payroll. He hasn’t the vaguest concept of investment. And do not let the president feed you his government investment yak. An investment occurs when Americans work, accumulate capital, and put their capital to work for a return in the form of interest or dividends (my #1 investment law).

The federal government does not work and accumulate capital. No, the central government grabs money from you in the form of taxation or borrowing. Or, in lieu of this, the printing presses crank up and money is created literally out of thin air. The central government has a checkbook, but has no checking account. In order for the government to create the illusion of investment, either your checking account or a printing press is required.

Read The Communist Manifesto. Read Atlas Shrugged. Google Building One America, and become a Cato Institute benefactor, as I have done. I believe these four steps will help you and your family better understand that the president, as Clint Eastwood has distinctly pointed out, is “the greatest hoax ever perpetrated on the American people.”

As a parting salute to the failed presidency of Barack Obama, Americans should not forget that President Obama is the guy who lost America’s triple AAA bond rating and who uttered the truly memorable, “If you’ve got a business, you didn’t build that. Somebody else made that happen.”

You can feel the tide shifting. Mitt Romney has come alive. And his son Tagg is a huge reason why.

I had the great pleasure of meeting Tagg over the summer in Newport at a Romney dinner. I shared that experience with you in Why Romney Will Win. The buzz in the air that night was who would be Romney’s vice presidential nominee.

Tagg was up front about where his father was in the selection process. He said a decision hadn’t been finalized yet, but whoever was chosen would have to be a person who could carry on his father’s work. Once Paul Ryan was selected, Mitt asked Tagg to inform those who were not chosen. “Tagg is reflective of his father, and I think people see that,” says former New Hampshire Governor John Sununu, a Romney advisor. “He also has the energy to fill in for his father.”

At the dinner, Tagg was geared up for the final push toward November. But for a month or so after the event, I kept waiting for that moment, which seemed never to arrive. It was frustrating. And it came to a head. The president’s campaign and his allies were running ads insinuating Romney was a murderer and a felon. “[Democrats] are not above making things up to make my dad look like the bad guy. They ought to be ashamed,” Tagg said in September to a New Hampshire paper. Yet it seemed that the professional consultants in the Romney campaign were on autopilot, advising Mitt to smile and forget about giving details about how he’d govern. That lit a fire. Tagg stepped up.

Tagg pushed his father to let America see the Mitt Romney he and family love so dearly. Romney’s performance in the first debate was the shot heard around the world because he spoke from the heart. He sounded presidential.

The embrace between Tagg and his father after the first debate spoke louder than words: “Dad, you nailed it.” It’s never too late to speak from the heart, and Tagg helped his father open up and show us how much this presidency means to him.

NRO poll shows Mr. Romney the clear winner in debate three 89-11.Mr Romney looked well organized and presidential. (For more read Romney Should Be Pleased by Victor Davis Hanson and Tortoise Ties: Hare’s Concerned by Stanley Kurtz). President Obama once again came across as petulant and on the defense. Americans clearly saw in Mitt Romney a well-grounded executive with broad credentials and knowledge. In president Obama they saw, by contrast, a politician back on his heels and flailing. The nationwide upside momentum in the polls in favor of Mr. Romney will continue.

>> read more

Jeff Flake: Patriot, Reformer

In Arizona a battle is playing out for the Senate seat that is currently held by retiring Jon Kyl. Up for election are Congressman Jeff Flake and former Surgeon General Richard Carmona. Flake has been a consistent reformer in Congress, and has been the lead-dog in the fight to end abusive earmarking practices.

Arizonans shouldn’t sacrifice the representation of one of America’s few true reformers. Flake is one of the most fiscally conservative members of Congress, and is one of the only voices on the House Committee on Appropriations looking to reel in the size of government, not make it larger.

We wholeheartedly endorse Jeff Flake for Senate in Arizona.

>> read more

Focused On The Issues

Americans cannot trust Barrack Obama regarding national security issues.

On a recent trip to Paris, I once again got to spend some time with a gentleman I regard as one of America’s most seasoned and best-informed military analysts. I am referring to Bing West. Bing, a former marine, was Assistant Secretary of Defense under President Reagan. I have read Bing’s excellent books and never miss Bing’s outstanding critiques at National Review Online. I have been of the view that the Obama administration deceived and in fact lied to Americans about the tragic death of Ambassador Stevens and other Americans in the Benghazi terrorist raid. Well this morning, Bing West has done America a big favor by laying out the whole grizzly Benghazi quagmire of lies and deception. Here it is! Read Bing’s article here.

I do not speak for Mr. West, but there is no way President Barrack Obama should be returned by Americans for a second term in the White House. Not only has he presided over the worst employment debacle in memory, lost America’s AAA bond rating, and told my small business clients that they did not build their own businesses, but he also is not to be trusted on issues of national security. If you do not believe this is so, you either did not read Mr. West’s presentation with care or believe that Mr. West falsely presents the facts. And the latter is certainly not the case.

>> read more

Tom Smith for Pennsylvania

Take some time today to study the issues page on Tom Smith’s Senate campaign web site. Smith has a five point plan for improving America.

1) Simplify the tax code

2) End Out of Control Federal Spending

3) End Oppressive Regulation

4) Energize our Future with American Energy

5) Healthcare and Security

Here are a few points in Smith’s platform that are particularly attractive:

No Budget, No Pay. For more than three years, Congress has failed to fulfill its constitutional obligation to pass a budget. Our elected representatives should live under the simple realities their constituents do – if you don’t do your job, you don’t get paid.

Impose a Regulatory Cap on Agencies. The idea of a regulatory cap would be to establish a “regulatory budget” for new regulations, which at least initially, would be set at zero. So, if an agency wanted to issue a new regulation that was estimated to cost a certain amount, that agency would be required to eliminate existing regulation costing society an equal amount. The process would slow the implementation of new regulations.

End the frivolous lawsuits that unnecessarily drive up costs for everyone. We must enact meaningful tort reform. A CBO report in 2009 found that healthcare providers would incur approximately $35 billion annually in direct malpractice liability, or two percent of total healthcare expenditures. This number accounts for insurance costs and settlements, awards and administrative costs.¹⁴ Additionally, the threat of frivolous lawsuits often forces healthcare providers to practice “defensive medicine,” which increases costs even further.

End double taxation of savings and investments. The current systems that enact unfair double taxation of income serve to stifle investment and disproportionately harm small business. Eliminate the death tax and capital gains tax.

We endorse Tom Smith for United States Senate. America needs more Senators that believe in the Constitution.