25 Years & A Billion Asians

"The United States and the enormous buying power of U.S. consumers will not be enough to drive earnings growth for big U.S. businesses in the decades ahead. The American consumer will always be important. But for the next 25 years, it's probably not going to be the engine of global growth.  It's going to be the billion people joining the middle class in Asia, it's going to be what the resource-rich countries do with their newfound wealth."

Jeffrey Immelt, CEO, GE; Newly appointed economic adviser to the President

Tremors Abound

Today the Associated Press reports:

"The Secret Service has determined that a juvenile was behind the online survey that asked whether people thought President Barack Obama should be assassinated, an agency spokesman said Thursday. No criminal charges will be filed against the juvenile or the juvenile's parents, spokesman Edwin Donovan said. Donovan would not identify the names of the child or parents or say where they are from. The poll, posted Saturday on Facebook, was taken off the popular social networking site quickly after company officials were alerted to its existence. But, like any threat against the president, Secret Service agents took no chances. The poll asked respondents "Should Obama be killed?" The choices: No, Maybe, Yes, and Yes if he cuts my health care."

"Obama has a bright future. I hope for his sake that he loses, because he will be the “fall guy” and historically during “inflection points” those presidents have been the recipients of bullets (Lincoln, McKinley, Kennedy, Reagan). The 'mob' has emerged and they’re seeking someone to lynch (ask Martha Stewart, George Bush, Jeff Emmelt, Ben Bernanke, and Brittany Spears)." Random Roving - June 30, 2008

Article source:

http://www.google.com/hostednews/ap/article/ALeqM5iSHdC8oUo_rn0oPC-cZ9oVqaFIGgD9B2B5000

Don't Shoot The Messenger

I recently had some discussion with a friend regarding the email below that I sent him on June 30, 2008

Overall, mass social mood shifted in year 2000 from “happy and greedy” to “angry and fearful”. Watch the news at night to confirm. The human mammal, like all other mammals, herds and hoards when fearful. Right now across the world the “super giants” are hoarding everything….oil, steel, grain, etc. (rice rationing at Sam’s Club!!)

The problems of the future are about much more than oil. Oil is at the forefront because it drives our economy and our excessive, gluttonous American lifestyle. We also see it at the pump on a weekly basis. Many challenges ahead.

I’m continually dumbfounded by the fact that most people believe that the economy is controlled by the president and their administration. I first ask: “wouldn’t all presidents want a good economy? If so, why don’t they create it?”. I’m a big believer in Adam Smith’s “invisible hand” http://en.wikipedia.org/wiki/Invisible_hand.

Markets beat to their own cycle. Presidents are like bullriders trying just to stay on for 8 seconds and if they’re lucky, maybe they steer the bull in one direction for a brief moment. Was Jimmy Carter really that bad of a president or did he time his economic cycle poorly? Was Bill Clinton really that good of a president or did he time his presidency extremely well? I believe that one was cursed and the other blessed from the “get go”. The next president, whoever he is, is doomed and will likely parallel Carter, JFK, or LBJ. Hopefully for him it will only be as bad as Carter.

Obama has a bright future. I hope for his sake that he loses, because he will be the “fall guy” and historically during “inflection points” those presidents have been the recipients of bullets (Lincoln, McKinley, Kennedy, Reagan). The “mob” has emerged and they’re seeking someone to lynch (ask Martha Stewart, George Bush, Jeff Emmelt, Ben Bernanke, and Brittany Spears).

The barometer since 6-23-08: