Skip to main content

He Didn't Know?

I was passing through the airport last week making a connection and stopped to see our President during a press conference explaining the situation with Obamacare.   I was awestruck to hear him claim that he was kept in the dark and was just as surprised as all of us when the rollout failed.  I immediately thought to myself that he must have been lying.  I mean here is a guy whose name is forever attached to this landmark re-working of our nation’s healthcare system, a massive system that represents one-sixth of the economy.
He had used so much political capital and had invested so much of his Presidency in this initiative.  How was it possible that he wasn’t on top of this personally? Given the import to him personally, and in the face of all of the negative and hostile emotions from so many in opposition to the bill, wouldn’t he have tested the system out himself, or at least looked over the shoulder of his lead tech people for a personal demo?  This all seemed preposterous to me.

Then I heard the President say something to the effect of: “Do you think I’d be so stupid to have stated in the days and weeks before the rollout how confident I was about the functionality of the system if I had known it wouldn’t work?”

Wow!  I thought he was a liar, but after hearing this I began thinking he might really have been in the dark and clueless, which is pretty depressing either way since he is our President.  He was emphatically saying that he didn’t know, and seemed oblivious to what that really meant.  Did he not realize that he had abdicated his responsibility as a leader by not getting more involved in something this important? Does he understand how small he looks when he blames others? As I thought more about it I began to wish he were lying!

And, QE continues with no end in sight and the pretense that there will be no ill effects of this wild experiment with monetary policy, Assad is killing with impunity and re-gaining his power in Syria (but not using chemical weapons at least), Iran continues to promise they only want nukes for domestic energy purposes and our administration seems eager to take them at their word, and Europe is back in recession.  What a mess!

Note: If you desire to comment and do not see a comment box at the end of the post please reload the page on your browser.

Popular posts from this blog

Taxes and Hyperbole

There is a new tax code in the U.S., and this is indeed a “Yuuuge” deal. As far as I can tell, it is as close to an unmitigated home run for America as can be. Is it perfect? Of course, it’s not. The code retains its unwieldy size and complexity, largely as a result of compromises made in order to bribe congressmen and senators for their votes. Until we get term limits, it seems we’re stuck with a tax code that is big and complex. However, it does hit the mark on a few key issues: most every taxpayer will now pay less to the federal government (except those in states with ridiculously mismanaged economies who now will be forced to hold their state politicians more accountable); and our businesses, large and small alike, will remit less of their profits to the federal government and will be liberated to invest that savings into growth – which will surely create job and wage growth in the productive private sector.

You Need to Ask the Right Question

If you ask the wrong questions, the answers will probably also always be wrong, and even irrelevant.  This might seem obvious, but I’ve noticed that this truth is often completely overlooked, and even by the world’s most intelligent. While I’m certain this is so in every facet of life, for the purpose of this short paper I will focus on the investment/finance world.

We, The Deplorables

I recently saw a German movie called “Look Who’s Back” on Netflix, which I strongly recommend.  The film fictionally chronicles the return of Adolf Hitler to modern-day Germany and does a tremendous job of illustrating how Hitler’s call to arms for a better Germany for Germans resonates with the average German in the film. It cannot be lost on anyone who views this film that the message repeatedly heard from these average Germans that “what he says is mostly true…” is a frightening one, and one that is easy to imagine not only Germans saying but French, British, and Americans too.