Rumpelstiltskin: I you spin straw into gold The Democrats will give it away

If Obama wins the redistribution of wealth, clearly stated, will take over 50% of money!

With the proposed Obama plan US citizens will see one of the biggest forced redistribution of wealth and class warfare in our history. Proposing raising the Capital Gains tax alone will have devastating effects on the economy at this fragile time. I earn my money and invest it then I am taxed so heavily on the gains why would I ever invest it in the first place. Yes I make more than $200,000. But why should 40% of my income – almost half go to the government. That is almost half of what I make. Why then would I want to do business as a US company. Almost half my money is going to go into a redistribution of wealth. Then if I invest it, which I won’t, another 40% tax is proposed to be put on my gains. If I sell one of my homes the capital gains tax will be so great that I wouldn’t dream of selling at all. And already the US has the 2nd highest corporate tax rate and this will go up for every small business and big alike. Then all the money taken from my pocket gets spread around to everyone else. AHHHHHHHHHHHHH. I cannot believe this is likely to happen.

I will tell you my plan if this happens. I will eat some capital gains and losses immediately on my business, stocks and at least one house. I will plan to spend almost 6 months out of the year in Costa Rica, Belize or Bermuda. I will not be here to give my money away nor will my business. I will be forced to lay off or eliminate almost every job in my core business. The others I have founded or own will immediately lay off employees. This notion of redistribution of wealth will cause so many investors and businesses to just withdraw investment and growth in their business and personal life. Without this support the markets and many sectors of the economy will become much worse.

Almost half of my earning! Where does it say in the Constitution that you can just reach in and take so much of the money I earn. I earned it not a bunch of other people. And worse it is going to be forced on me. If I were asked to pay my fair share into a pool of investments that would retire the deficit I would today. If I were asked to give a helping hand to an American, like supporting a child overseas, I would do so immediately. Why wouldn’t I get a tax free break on donating the money into programs like this.

States are now shuttering and I predict some will go bankrupt. But to stave this off State taxes are sure to go up too. So this will be over 50% of my hard earned money. So I want someone to tell me why over 50% of my money will be taken from me once I earn it and why I should continue as a US corporation. RIGHT! You couldn’t give me a reason other than patriotic but taking so much of my income just isn’t fair nor is it acceptable to me. You can follow my story if Obama gets elected and I assure you I will go to any means necessary to protect my income and hoard my cash. I will not invest one penny of it in growth of new jobs and in the markets. I know it sounds bad but no one is going to take more than 50% of my hard earned money and waste it, give it away and mismanage it so horribly that it only makes sense not to participate in investments, business growth or the open check book to Congress.

MONDAY MORNING QUATERBACK: ALL THE FINANCIAL BLOCKING AND TACKLING WON'T STOP THE BLITZ

I hate tell you – I told you so

Here we are getting the news that retail sales are down and going down further. Unemployment rising and will continue. Sector after sector will continue to feel the massive credit crunch as consumers can’t or don’t consume. The credit addiction, withdrawal and fear will just keep them at home. Worse if Obama wins, and it looks likely, the projected tax increases in capital gains to almost 40%, reinstating the inheritance tax, taxing high income families, capital gains on homes and much more will cause a panic post election and through the next 18 months. It’s worse than a perfect storm and I have been saying for months its coming.

Greenspan called it a Tsunami – I used that term months ago to describe the devastation after the Wall Street quake. Mark Cuban says the real problem will be if the foreign governments unload or debt and currency or just don’t buy new Treasuries. And I.O.U.S.A. painted a grim picture regarding the deficit. I can go on and on but my shtick must be getting heard because I am hearing it on the news every night when the fact is I have written, spoken and ranted about all this for over a year. I don’t need credit for anything just want to propose alternative solutions to get us out of the mess. I don’t have the reach and voice that you do but I am thankful to the dozens of radio stations I serve weekly.

A Monday thought for you. What will all the proposed taxes under Obama’s plan do to the economy even just based on him winning. I think a sell off and bailout of the market by the real influencers will take place at the same time the retail, airline, auto, bad credit card debt, student loan problems and everything I have said hit at once. Wachovia released a tax analysis of Obama’s plan and McCain’s. It was shocking! On top of all of mess it will cause and the massive transfer and redistribution of wealth American influencers and businesses will get so much more tax that their necessary support of the markets is sure to be pulled back. Imagine earning money and investing it. Then you make some money on the investment and get taxed heavily again. That is insane. How much more of this can the economy handle? None. Also, check the Bush tax plan and the tax roll back – that hikes taxes considerably more. I can’t believe the under educated, ignorant voting class actually understands how bad this is and will be.

I don’t have to tell you I have been calling all these shots – I am certain you have read my tea leaves. But someone needs to stay on point and serve listeners both the plate of dog food and the solutions to clear the plate. Help me help you get the word out.

THE BILL GLYNN CRYSTAL BALL CALLS WALL STREET SHOT AFTER SHOT: EARNINGS REPORTS GET MORE NEGATIVE

Months ahead of the retail and other sector disappointing results Glynn continues to predict the financial chaos.

On radio and TV I have predicted the recession to be caused by terrible retail, service, auto, finance and many other sectors that are now being hard hit. I have looked out into the future and gave specific views on the financial crash, how it happened and solutions. I have said for months the earnings reports are coming out and will continue to be abysmal. The earnings reports as a result of consumerism dropping off sharply will cause many more problems for Wall Street.

The credit crunch hitting main street is unprecedented. The only way to support our economy is to have American consumers – consume. Well that isn’t going to happen for a while. The result – many sectors already feeling the squeeze will be battered, hobbled and many just unable to survive. This fundamental truth is gloomy but I think everyone who reads my blogs and hears me speak knows I have been predicting this for months – and I will say again – the worse is coming and fast.

The financial bailout was necessary but is not close to enough to sustain a retail free fall. Main Street just doesn’t have the credit or emotion to drive sales and this will assure a recession – although we are already in one that will deepen significantly. Mark my words because its coming and if a Democratic White House and Congress is in place the fragile and weakening economy will be crushed for certain. Please go to www.billyg.net and see the dates of the various predictions made and I think you will agree my crystal ball is pretty darn accurate.

THE SHOES ARE DROPPING: WHAT THE BAILOUT DOES'T COVER YET!

THE SHOES ARE DROPPING: WHAT THE BAILOUT DOESN’T COVER YET!

Keep a close eye on one the many sectors that WILL be hit hard

Retail will be abysmal this year because of cautious and emotional consumers. Being cut off from credit with many consumers simply maxed out the spending America depends on to support the many sectors of our economy will cause more havoc.

As I have been writing the worst is yet to come. The financial crisis is far from over and the world economy has to wake up to the fact that products, goods and services will be hit extremely hard over the coming year. What we don’t see yet is the massive bailouts for credit card debt, student loans, automotive, airlines, retail – on and on. The underpinning of our economy is consumerism. Without the American people’s support the many sectors of our economy will weaken assuring a worldwide recession at best.

The government’s rush to act to free up credit among banks and to save financial institutions was very necessary at this point in our history. The free markets needed to have the government intervention and the plan will provide some relief but it is far from enough. Even with the new stimulus plans being implemented the fact is consumers just can’t or won’t be able to afford large ticket items, luxury goods, traditional services and the retail pull back may be good for Wal-Mart but will cause major companies to collapse or be seriously damaged in the next year.

I am not a doom and gloom expert but a realist facing forward that believes strongly the US and the world for that matter is teed up for continued pain. The free markets will correct themselves and portfolio values will come back but this won’t happen for a while because many stocks will be battered as performance in sectors that require consumer spending just won’t get the necessary spending support. Layoffs, plant closings, unemployment, consumer confidence will exasperate the problems the economy already faces. So will the financial bailout be the solution? NO! there is more to come and as we borrow and print money to support the lofty plans in the financial industry more roosting will be upon us.

Watch the indicators and please pay attention to the future bailouts of more bad debt coming from the consumer sectors like credit cards and student loans at a minimum. When retail numbers begin to hit mark my words Wall Street will not be happy and continue to go up and down like a roller coaster. Also, if the Democrats to get into the White House and control Congress all bets will be off. The mere fact that Capital Gains and Business Taxes will be targeted especially focused on wealthy investors who keep the markets afloat and small business there will be a panic and major backlash – exactly what we don’t need at this historic moment in our economy.

I have offered a series of solutions at http://www.billyg.net/ contained in the I.O.U.S.A. NOT pamphlet that all listeners can read and gain an understanding of the issues and also plans that we all should hope get the ear of politicians.

KENNEDY VS. NIXON = OBAMA VS. MCCAIN: CHARM IS WORTH MORE THAN EXPERIENCE

Why Obama will be President and how we survive another Jimmy Carter Administration

History repeats doesn’t it? I have always said we just don’t want it repeating on US. But Americans have been charmed by Obama. Last night was McCain’s final pitch and he just didn’t close. This my friends, to use his words, was the end of the election. Get ready for a mirror of the Jimmy Carter administration. The personality, plans, foreign policy and domestic line up perfectly. We all know what happened there!

I am hugely disappointed in all the spent opportunities McCain has had to blow Obama away. Like Nixon against Kennedy it wasn’t about experience and track record simply about America falling in love with CHANGE and the savvy politician. Obama is no JFK but McCain appears to be more like Nixon for certain. What the heck are we going to do with a Democratic White House and Congress because I assure you it is coming.

Honestly, I am sitting here writing this and feeling sick. But like I have done calling the shots ahead of time with the financial crisis predications I am going to call it like I see it - I hate to say it but Obama is going to win the election. Do I hope something happens in the next week to turn the tide – or the box of Tide as I say - YES – but it can’t. The Democrats have so many voters registered because of Hillary and Obama and Obama nailed the college students last night with his programs for them that the odds are stacked so heavy in their favor and I doubt the river card is going to get McCain over the top.

Instead of being sick, distraught and bitter we have to take our medicine and understand the implications to prepare ourselves and the economy.

1. Economy: In a welfare state, entitlement society and changing tax environment the markets are sure to decline and people are just not going to spend money. Trickle down works and when those that employ and have money don’t spend or freeze or down size – and they will – our economy will erode further and a very deep recession – perhaps a depression will be imminent.

a. Expect unemployment to sky rocket and many large businesses WILL for certain now move jobs overseas

b. Retail sales to be abysmal and for a while because the spenders are not those making 42k a year to be frank – it is those that make real money that buy stuff and they will pull back because the government wants more money

c. Stock markets cratered and capital gains increases will assure this

d. Deficit not to be handled but increased

e. Spending on entitlement programs to go through the roof

2. National Security. One thing for Bush is he kicked butt around the world. Like with Jimmy Carter I see a dismantling of our armed forces and capabilities. We all know that the Taliban, Al Qaeda and Hugo Chavez are all rallying for Obama to win. This is because America’s foreign policy is going to be radically different and will make America weak in our enemies eyes. This has far reaching implications and will for sure change our stature in the world – and some by the way will be positive as I can see where Obama may get a lot of nations to like us.

a. We are economically weak and will be more so – a new Era of Chinese, Arab, Russian and India dominance is a reality and will be sped along.

b. We may make nice with many nations but with real power on earth we will lose our fangs for sure – hence why all the weak nations and terrorists are rooting for Obama.

3. Energy. Obama will invest in alternative fuels for certain. This is good but will take 10 years and even with an energy revolution here it will take so much time that in the next 4 years we are going to choke on fuel.

a. Without massive drilling – we cannot send the message to the world and force their hand on energy. We are the world’s biggest client and I am sure this will wake people up.

b. 60 percent of our oil comes from here, Canada and Latin America, 22 from Africa and only 18 from the Gulf. Get that straight and you can get your head out of the sand and really grab our energy from Canada and Mexico and cut Chavez off – but that isn’t going to happen – we will be weak on dealing with international energy.

Other than packing up and moving out of the country – we have to brace for another Carter Administration. I think Obama will have a powder keg in the White House and blame everything on Republican policies. I guess we have to ride this one out and tuck away our cash fast as everyone will be ripping money out of the system as we all know taxes and capital gains are going way up.

TRUST: LAWMAKERS, WALL STREET, PAULSON, THE FED AND BUSINESS LEADERS

TRUST: LAWMAKERS, WALL STREET, PAULSON, THE FED AND BUSINESS LEADERS

The definition of trust is a firm reliance on the integrity, ability, or character of a person or thing

Andrew Jackson spoke these words in 1832 to a delegation of bankers.

“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”

A friend sent me that quote recently. I feel like a Paul Revere racing around the country trying to make a difference – I know you want to too. Confidence and trust in our institutions, Congress, politicians and America has expired. I HAVE A GOOD CHALLENGE! Poll your listeners and viewers and I bet almost 100% would say they have no confidence or trust in our leaders – government and business alike. We all know it is true but who is willing to stand up and say it. I am! Heck someone has to.

Do Americans and the world TRUST America. NO! I can’t remember how many times I have alerted the media about the confidence game and the erosion of world confidence in America. America has been bankrupt for many years now trading our future for quick bucks and financial lawlessness. Congress has defeated a Constitutional Amendment that requires a balance budget each year. Can you believe that. What a joke. These self regulated LAWMAKERS actually said no to one of the most important Constitutional Amendments in American history. When do you remember the last time we had a balanced budget? The deficit and borrowing has grown every year since 1957. Now with our deficit approach $11 trillion how could our leaders let this happen? No wonder why no one trusts our government and when the modern Robber Barons crater their companies and put hundreds of millions of dollars in their pockets we stand by and just watch it happen.

Ok, now let’s look at the definition of confidence: Trust or faith in a person or thing.

Horrifying isn’t it! And we say this is a Democracy. If America was truly a Democracy then we would be empowered to do something. Then why do Americans feel impotent, unimportant and hopeless. Well first America is a Republic where we elect representatives like in Rome but does any American think these people are working in our best interest and putting America first. I will bet my life and net worth Americans will say they are appalled, disgusted and outraged. Why then if we don’t trust these people do we allow them to run our country and institutions. Well I am here to tell you again and again and again this is an Oligarchy; RULE BY THE FEW, THE RICH AND POWERFUL! You are either in the club and ruling class or you are an outsider and a little person throwing rocks at the sun.

Imagine in your home, workplace or community if no one trusted you or had confidence in your abilities. Yes, you would be fired for certain and alienated by everyone around you. If you made promise after promise and told lie after lie what would be the outcome? Again, horrifying for you. And here we sit glued to the markets and the TV just to be programmed and pandered to when we all know its BS and we don’t trust a word of it. It is hardly conceivable that we can take back our country. And as sad as it sounds it is more than likely the US will have to declare bankruptcy in my lifetime. The minimum outcome will be flushing the American dreams of millions down the toilet – in fact many have already been flushed and left to rot.

If you are sickened like me and the media has the biggest voice of all then why doesn’t everyone band together for a day – one unified broadcast – in every city and town and hold a truly democratic town hall. Ask all the same questions and present all the same facts. I think this will create a movement and expose our leaders as untrustworthy, lacking character and many deserving to go to jail.

WALL STREET ON A BUNGEE CORD

The markets around the world are watching Wall Street dangling from a bridge and it lifeline is about to break – WHY?

Emotion is ruling the markets and I continue to call the shots that $700 billion is not enough and will be at least $1.5 trillion. The ups and downs on Wall Street are being caused by panicked investors and short sellers. Why doesn’t the government do away with short selling all together. Wouldn’t that keep pressure off the companies and the market – of course it would. Will global interest rates save the market from the jump it took and the bouncing up and down as if it were attached to a bungee cord. No!

Regardless of the various banks around the world interest rate cuts banks are still just not lending money; to consumers nor other banks. The liquidity in the market and what caused the crunch is as I have said for months – confidence. Now the pundits have picked up on the fundamental issue that caused the collapse in the first place and confidence has still not been restored. This is and will be an ongoing issue as banks and insurance giants try to keep their heads above water.

Banks have also cut off credit to the people that support our economy. I’ll call the shot again as I have been RANTING about for months - that come holiday and retail season we will see most every sector get hammered. Wall Street knows this already and will wait for consumer confidence and retail numbers to come out and I assure you it will be dismal. This will exacerbate the problems for sure and force the markets to erode much further. Are we at the bottom – no and plan for more bad news – It is coming and from many places. The world is feeling this and as we are connected globally the US markets are under sever scrutiny and pressure from around the world to get their act together. Worse the world is losing confidence in the American system and with that is keeping a very close eye on treasury auctions. Just pray the confidence there does not erode. That truly will be nail in the coffin for our economy and surely bring a 21st century depression upon us.

Do I like the $700 billion dollar bail out and even McCain’s idea of re-pricing consumer loans to market values – NO. But despite everyone’s disdain for all of this there will be a much much higher price to pay and its coming now. McCain’s plan has merit and will allow consumers a better deal rather than foreclosure but that will take some time as well. Until the cancer of our country is solved and the deficit eradicated – please not my 10% plan – there will continue to be deterioration of confidence in our system and the bungee cord will keep going up and down with the elephant and the donkey holding on with a toe.

The problem is that Wall Street jumped and took everyone with them. I know we want these people to drown and cut that cord with $2 trillion of value already sucked out but frankly there is little anyone can do. My strong opinion unlike Cramer is to keep all money in the portfolios that have lost so much value. Keep an eye on the future and hope someone leads our nation to halt and fix the deficit, social security, Medicare and Medicaid to truly restore confidence in our nation and the trust and confidence of our consuming citizens or expect that life line to break for certain. Also, I cannot believe our lawmakers have not changed the Mark to Market rules. This inaction and incompetence is the same as the oversight of Freddie and Fanny and just one more example that Lawmakers should never manage our money let alone a check book.