Thursday, November 3, 2011

"Expert Advice!"

Growing up, I constantly asked my Dad questions. I was probably a pest, but he never complained; he was a cool Dad. I always wondered how he knew where he was going when we went out in our car, all I knew was the walk to school; two left turns and I was lost! Dad never got lost going anywhere; at least, if he did, I didn't know about it. I always asked him for directions and he never let me down; he knew what he was talking about. After a few years of driving a truck around Chicago, I was pretty good at directions too; it became fairly difficult for me to lose my way in the city. I learned from the best. When we are new on a job, or taking on a new task, it is always a good idea to ask questions of those people who have done it before us, especially if they are good at it. Obviously, there are folks out there who have been doing things for many years who are still not very good at it, and their reputation usually precedes them. If you go into a barber shop always go to the barber with the worst haircut because they cut each other's hair; both barbers may have the same years on the job, but one is better than the other! They are both barbers; one good, one, not so good!

President Obama is in Paris at the G-20 economic conference. Europe, especially Greece, is in dire financial straits and general belt tightening is definitely in order. Greece is close to financial collapse and the EU wants to offer a bailout package, but it requires some loss of entitlements to make it a soluble solution and the Greek people don't want to give anything up. The Greek Prime Minister has said he will resign, which will put added pressure on an already volatile situation. If there is a financial collapse in Greece, all of Europe will feel its effects. Too many public entitlements and high taxes have put Greece into this dire state; the nation can't survive under this continued policy.

Barack Obama said the United States will do it's best to advise the Greek government on fiscal solvency. Now I'm not Greek, but if I were Greek, I don't believe I would want any financial advice from Barack Obama. In about three years, he has piloted the United States into near bankruptcy compiling the largest deficit in American history. For the very first time in American history, our bond rating has been lowered, and there is a distinct possibility it could be lowered again; this is not a glowing endorsement of Mr. Obama's financial smarts. Mr. Obama's idea of smart finances is for the government to spend MORE money and ENLARGE U.S. debt; to me, this sounds STUPID!

My advice to my Greek friends is: hand Barack a gyro sandwich and send him away; he will only make things worse!!

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