Was Paul Ryan the Right VP Choice for Mitt Romney?

Did Mitt Romney make the right choice in Paul Ryan, when he named the Congressional Representative from Wisconsin his Vice Presidential running mate? The positives for Ryan are clearly his charisma, intellectual acuity, conservative values and financial acumen. He’s got leadership skills and even looks presidential. However, the mark against Ryan probably cost him a run at the presidency this year. When Ryan came out with his strong plan to reform the entitlement programs, he polarized himself from party favor because of the backlash from the media and America’s senior sector. Surely President Obama will use that same issue against Ryan and Romney in the coming weeks. The soon to be formalized GOP candidate, Romney, has already pre-empted the likely strike from the Democrats with a series of proactive campaign advertisements making the President look like the destroyer of senior programs. So, I ask, has Paul Ryan bettered the chances of Mitt Romney or weakened them? Would someone else have been a better choice? While we’re at it, add your insight and view about entitlement programs and what should be done to preserve America’s future and current way of life.

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The Debt Ceiling Debate

Fringe groups on each side of the political spectrum, but especially The Tea Party, are holding America hostage, while sensible voices who understand the importance of America’s perfect sovereign debt rating desperately seek to restore common sense.

It is my view that at this late date, the debt ceiling had better be raised to avoid near-term default, and that active efforts continue to establish adequate budget measures to restrain the now interested Standard & Poor’s and Moody’s (NYSE: MHP, NYSE: MCO). By the way, it really bugs me that now that this issue is on the tongue of every American, the agencies suddenly determined America’s debt position was of great short short-term importance and warn of ratings change even with a new ceiling. The levity of such a change is not well understood, especially by the agencies who horrifically rated Mortgage-Backed Securities ignorant of the potential for home price decline, driving a booming MBS market and playing key role in creating the financial crisis.

I want to know your opinion on this highly important debt ceiling issue and balanced budget measures. Please feel free to range widely across these topics. With a week to go before America defaults and life as we know it perhaps expedites its transformation into something far less appealing, tell us where you stand on:

The Debt Ceiling Debate

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QE3 Anyone?

TOPIC OF DEBATE

Should the Federal Reserve Introduce QE3? Will the Fed usher in Quantitave Easing Part III Anyway?

With the economy seemingly about to dive, we were thinking there’s a decent chance the Federal Reserve might revert back to its old line. However ineffective quantitative easing has been for sustained growth of the broader economy, it seems the government can’t yet come up with any better ideas. Therefore, there would also seem a distinct possibility it might not want to risk pulling away an aid now that might someday actually gain traction, especially with economic data-points offering insight into a questionable outlook. What say you to our topic of debate?

QE3 Anyone?

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Government Shutdown on Budget Bill Legislation Shenanigans

Topic of Debate

Let's debate shall we... With Republicans saying one thing and Democrats saying another, this latest quarrel ringing through Congressional halls is pumped full of political agenda. We want see if we might glean some new perspective for our readers by opening this up to debate to our readers.

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Government Shutdown on Budget Bill Legislation Shenanigans

Here's my Independent view:

It's my view that the GOP has two distinct ingredients to stew in this hardball it's playing, a tasty treat and a bitter beat. I do believe that the Republican Party is backing up its hypocritical calls for balanced budget after years of the Bush Administration's spend-away game-plan. It's an old argument Republicans having become accustomed to making against the stigma of spend-easy Democrats. The Tea-Party was born because of it.

Whatever the purpose, I do believe a portion of the Republican motive to play hardball is driven by an honest goal to better balance the budget, and I think the Blue Dog Democrats want the same. For that matter, I think the whole of America wants this now, and for good reason. And oh by the way, I'm all for balancing the budget over the long-term, so we have a future that includes government spending for something other than entitlement programs. At the same time, I know it's too early to be focusing in extreme fashion on the budget over the revival of the economy, which is still vulnerable.

I'm also certain the Republican Party knows very well that by driving a government shutdown, it would feed perception among the average Joe voter that the Obama Administration has somehow failed to pay the bills. That should go a long way to garnering votes against him come election day, and yes, it's savvy politics but a disgusting example of one character of mankind - selfishness. And now, he'll make a case against the Commander-in-Chief to veterans and to his soldiers, who need to be loyal to be effective, by forcing him into a position to veto legislation funding the Defense Department, but not the rest of government. So when poor soldiers who are barely paying their mortgages for families back home cannot make that payment, how are they going to feel about standing in the line of fire for the man who signs those checks?

Here's why I am undeniably independent, after being a registered Republican for most of my life and never a registered Democrat; though I find myself far from alien to many Democratic views these days. I happen to agree with the GOP that government funding should not go toward paying for abortions! I dare any Republican to call me a liberal now. I'm a true conservative, in the truest form of the word, who truly cares about the less privileged, and one who will not give on "values" to fit into a party slot. I'm an American, and I don't have to agree with everything any party stands for that I do not.

Now, there's got to be give from both sides of the table on matters that normally dictate how these things come together. The most important goal of our elected officials now should be to reach agreement on a best fit price, not the lowest price. Either pass a budget or pass a full stop-gap measure, and get a budget done fast and right.

In conclusion, I do not like it at all that the GOP is attempting to bypass some of the repercussions of failing to pass a budget, by legislating stop-gap rules for portions of the government. Representative Boehner is seeking to pay military personnel while not paying everyone else. If you want your military to work, either pass another stop-gap bill for the whole of government or come to the table on a budget.

The other deal is that it's one thing to allow abortions and it is another thing to assist in them. So, as far as the Democratic argument goes that this is an ideological position not appropriate for the budget debate, well that is completely wrong. You are not changing legislation around the abortion issue by not paying for them. A majority of the funding to Planned Parenthood goes to preventive efforts, but some goes to paying for abortions, and none has to. The argument goes that most abortions are committed by the poor, who cannot afford abortions otherwise. Well, there are a lot of things the poor cannot afford that should take priority over this.

You want to help the poor? Well then stop policing them over every penny they receive in desperate need, while passing tax breaks for the richest of Americans. And stop expecting the lowest class of our society to fit into rigid rules that cut them off from aid for missing an appointment or misunderstanding a letter. I witnessed a poor old lady attend a required social services meeting with a hospital band on her wrist; she left the hospital, so she would not lose her benefits. You want to help the poor? Then raise the income threshold for food stamps so that starving people, who supposedly make too much money, can eat. You want to help the poor? Then don't impale Medicaid. There are many better ways to help the poor then helping them kill their children.

That's my view. This is America and I'm all about freedom of speech and I don't choose friends who agree with everything I say. I've seen the yes-man society in person, and it fails. So, please let's hear your view, which is respected and heard here as long as it is clean and relative.

How do you feel about this potential government shutdown and budget debate?

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Holiday Shopping Spending in 2010

Topic of Debate

Are you spending more, less or the same amount of money for gifts this holiday shopping season versus last year?

There are a plethora of reports littering the pages of major publishers these days offering varying views of the health of this year's holiday shopping season. We suspect spending is down this year, considering the length of time too many of us have been unemployed or underemployed. Yet, we find retail stocks surging today on a report of strong same-store sales (be sure to see the article that follows this though, since we debunk that deceptive data).

The National Retail Federation Survey released in the middle of the December noted that 62% of adults surveyed said they would spend the same amount of money or more this year than they did in 2009. Looking at this same data from another perspective, perhaps 38% of those surveyed are going to spend less money this year, and this seems to be more important for retailers, in our view.

We thought we might take this opportunity to survey our readers and ask:

How is Your Holiday Shopping Spending Shaping Up in 2010?

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Is the Estate Tax Fair?

Topic of Debate

We just published an article on the logic of the estate tax, which we suggest for your reading. It is our theory that a great majority of Americans would view (and vote) estate taxes unfair if they applied to all. However, they only apply to estates of $1 million or more, and so relative bias comes to play. The deal reached by President Obama with Congressional Republicans proposes the estate tax exemption threshold be raised to wealth of $5 million. What is your opinion on the taxable threshold?

At a 55% rate, how do you feel about the prospect of paying estate taxes on your wealth, which you likely worked hard to establish and to maintain through your life? We expect most of us intend to leave a legacy to our heirs, for their better lives. Is the new 35% proposed estate tax rate fair, or do you think there should be no estate tax whatsoever, as in 2010? Perhaps you feel like I do that these taxes should not apply to immediate family, or at a lower rate than 55% if so (perhaps a tiered rate based on family relationship). Please let your voice be heard, as we are curious about the general view on this topic:

Is the Estate Tax Fair?

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Should Unemployment Insurance Extension Benefits be Renewed Through the November 30, 2010 Deadline?

Should We Extend Them Again?

As the President returns from overseas and as the freshman Congressional class arrives in Washington D.C., first up on the legislative agenda is the decision to extend and renew unemployment insurance extension compensation or not. The current legislation allows for extended benefits only until November 30th.

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Some politicians and economists believe we may be approaching a point where this extraordinary and important aid acts as a crutch we've grown too used to. Before the Republican Party regained balance, there were voices emanating from it to ease back unemployment benefits to normal flow. There is an active viewpoint regarding a theorized negative impact of unemployment insurance, which argues that it acts as a support to the lazy. Given their fiscal concerns, this could be a point of argument for Tea Party Republicans and even Blue Dog Democrats, and so another extension of benefits is not guaranteed.

Our friends in the United Kingdom recently implemented rules to penalize welfare recipients who are not accepting work opportunities. We already have these guards in place, but enforcement is suspect; that's likely due to the size of the task at hand these days and a lack of human capital and funding to get the job done.

Do you think unemployment insurance keeps people from seeking work? I know people who have avoided taking part-time work because it would not match their income earned for sitting idle. I know still more others who realize that taking a part-time job could limit their critical income if laid off, as it would set new basis for their benefit calculation.

I think there are clear solutions to solving these conundrums, and they can be employed by creating a more critical unemployment insurance calculation, and by making it widely known to the American public. As is always the case, painted black and white issues offer opportunities for better measure in the gray area in between.

I recently wrote about the importance of the fourth quarter to the American economy, and that no matter what, the extension of benefits should run at least through the critical period. Where do you stand on this subject? Are we spending too much to support slackers or is this spending necessary to keep Americans from foreclosure, bankruptcy and fiscal demise, and the economy with it?

Should Unemployment Insurance Extension Benefits be Renewed Through the November 30, 2010 Deadline?

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Is a Republican Congress Good for Stocks?

Most experts believe the Republicans will at least gain control of the House of Representatives on this coming election day. Some believe the GOP might even take control of the Senate. We wanted to test your opinion to see what our readers think the repercussions might be for stocks. Is a Republican victory good for stocks?

The movement of the Dow since late August seems to say it is. The stock market has always favored Republicans, or so it seems anyway. After all, they are tax friendly and pro-business, but after all that has occurred under Republican rule, is the President right in pleading with Americans not to put the bad drivers back behind the wheel? If the economy fell into such mess under Republican rule and the treasury budget deficit grew into a monstrous state, then perhaps old rules no longer apply? I believe the market will reward Republican victory, if it has not already, and will penalize a Democratic Party win. But we want to know what you think.

Is a Republican Congressional Victory Good for the Stock Market Anymore?

DEBATE TOPIC ARCHIVE

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Should We Change the 911 Memorial?

Has the memory of 9/11 faded? First I remind readers that I was an eyewitness to the tragedy, and deeply and personally touched and changed by it. Still, as time passes, even I am noting a general change, perhaps natural healing, around the event.

There are now adolescents who need to be taught the history of the day, or else they might learn it from conspiracy theorists and the otherwise ignorant. There is a push to make 9/11 history a part of the curriculum nationwide, as it should be.

Still, the annual ceremonies in New York, Washington and Pennsylvania seem to be getting tired, with the reading of the names and the ringing of the fading bells. I wonder if the call to "Never forget," really means never forgive. Because to never forget is something very personal, and does not require grand ceremony. I'll never forget, whether there are spotlights or not. I'll have more to say about this and my own theory about the purpose of 911 in an article I've been working carefully on.

Nine years later, I returned to the scene in the early morning hours of 9/11 this year. I found police officers stationed around the site of the planned mosque. Can you imagine that there are guards posted around an old coat store? There were a million bikers riding around and hanging out about the old T-beam cross and all along the construction site, and I love their patriotism; and that cross means so much to me. But something was missing this year. The tragic memories had faded some for me, and the tears had dried up. So, I wonder, if this was the case for me, so deeply and personally touched by the events, what about the rest of you?

I feel as though we need to keep remembering 911, but perhaps the way we do it might change. I think that we should be learning from it, more than dwelling on it. I think that we should be promoting peace and global friendship, and coexistence and understanding. I think that we should be educating and loving and healing old wounds. I think this is the best way to serve those lost to us, and also that part of our own hearts forever scarred by the day. We can keep reading their names and remembering them and the tragedy brought about by evil forces that day, but I wish we would also work toward preventing the addition of new names each 9/11. I think it's time now to heal old wounds, to restore human love and common respect and to guard against future atrocity.

Should We Change the Annual 911 Memorial?

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Koran Burning

How do you feel about this Koran burning debate?

How bad of an idea is this Koran (Qur'an) burning nonsense? Pastor Terry Jones, an obscure pastor has become a global figure now, due to this International Burn a Koran Day he's called for on 9/11. What positive can come from inciting and incensing 1.57 billion Muslims, or one-fifth of the world population?

This large group of intensely religious people includes moderates, who will be disturbed by the news and who may harbor a mistrust of the Western world as a result. It includes militant fundamentalists, who will seek revenge in the form of murder, and who will inflict more suffering on the Christian minorities within their own countries. And, most importantly, it includes those in between, the borderline Muslims, who can be influenced by the actions of Western peoples and its leaders. And what example does this present Islam, and its Ameri-phobes, who view the US as a nation with imperialistic intentions?

If you are religious, you must understand that hatred begets only more hatred, and is the tool and intent of Satan. By sparking and nurturing a fire fueled by hatred, he can achieve a great end-game strategy, which only leads the righteous to unrighteous deeds in the name of God, destroys God's creation and leads souls to eternal damnation.

If you are not religious, you must agree that negative actions only give a pendulum of hatred the energy it needs to swing back and forth. Love is the only answer, and it can only exist in agreement with tolerance, patience and friendship. This should be understood by Muslims, Christians, Jews, Hindus, Buddhists and atheists alike.

Americans should rise up in force against the Islamo-phobia that is spreading like a new virus strain. It starts with the argument against a World Trade Center mosque, and progresses to the burning of Korans, and ends in a holy war of global proportions. We need to draw a line here. Say no to Koran burning, and instead seek the unity of God's church through the unity of his peoples. Say no to this ignorant act that could not be by the suggestion of any angel except of the dark one.

What say you on:

Burning the Koran

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Labor Market Forum 08-10

How do you see the state of the labor market? Are jobs really that hard to find and get, or is the situation exaggerated for political purposes?

Last week produced the Employment Situation Report for the month of July, and the report showed the unemployment rate stuck at a high level of 9.5%. Do you agree with the view of some politicians, mostly on the Republican side of the table, that the availability of employment insurance extensions are keeping some people from looking for jobs? Should these essential benefits be cut?

I personally know people who have chosen to stay on unemployment rather than take a new job or part-time work that would reward them only marginally, while placing them at risk of not qualifying for unemployment benefits again should they lose their part-time employment. If benefit extensions are keeping some Americans from looking harder for work, which is not the intended purpose, what would you suggest to help spur labor market participation? Is stopping unemployment benefits really a viable solution, or would that only force more foreclosures, tighten money belts even further, and drive a deeper recession? While I'm sure there are a handful of folks exploiting the situation, I view them as clear outliers. I believe it would be a major mistake to cut off unemployment benefits now. People without jobs would be forced to the welfare program, where income would be less than one-quarter of what they get from unemployment benefits.

Of course, the situation is not black and white, and there are surely a significantly higher majority of hard working, honest Americans who would gladly trade in their unemployment for a steady job. The Weekly Jobless Claims figures, ADP Private Employment Report and the Labor Department's Employment Report verify that companies are simply not hiring in a significant way. This favoritism toward cautious corporate investment is in turn affected by light consumer spending and less than optimal export demand. The President's efforts to spur small business hiring by offering tax incentives has not targeted the problem properly, because who would hire without revenues to justify the investment? What should the Administration do?

Please offer your opinion and join our:

Labor Market Forum

DEBATE TOPIC ARCHIVE

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Fiscal Stimulus or Budgetary Prudence?

Our latest question for you, and discussion topic at the blog, is an issue that is playing a key role in this November's elections. We have argued here regularly for more fiscal stimulus and against a near-term focus on fiscal budgetary prudence. While we are just as worried by the not so long-term anymore threat posed by the trend line toward future budget chaos, which would be driven by unmanageable entitlement programs, we are more concerned currently about the vulnerability of the economy and the state of the labor market. That said, we never find fault with cutting fat, where it may exist.

Much of the question is really centered around the many definitions of "fat," which seems to vary depending on your political party affiliation and financial standing. The Greek, a once Republican recently turned Independent, views programs like healthcare as necessity, especially in today's environment. I, in fact, find it disgusting to hear candidates and incumbents who have no comprehension of the poverty too many Americans survive, talking about healthcare as if it were a cancer itself. To me and my heart, the discussion about not funding the program is akin to the stabbing of an infant or the kicking of an incapacitated grandmother. It makes me want to puke!

We open this discussion up to whatever depth you might like to take the debate to. Solve entitlements if you like, or simply tell us why the Republicans nascent interest in budget balance should be taken seriously - after years of reckless abandonment. Or tell us why you think Democratic spending tendencies threaten the very end of humanity. Please also remember to answer the question posed below though.

Which do we need now: More Fiscal Stimulus or Budgetary Prudence?

DEBATE TOPIC ARCHIVE

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Stock Market Predictions 7-10-10

Topic of Debate

In recent week's, The Greek has had a lot to say about the direction of the economy and the stock market, with his discussion focused on the possibility of a double-dip recession and stock market decline. As the market has followed through in doing her part, the economy remains in question. We want to know what your stock market predictions are for the near-term and for the rest of the year. Will the latest actions toward restoring confidence in Europe sustain an upward rise for stocks in the United States? Will the US economy keep growing? Or, is The Greek correct in his forecasting for economic stalling and possible double-dip recession? Where do you see stocks heading, and what about the economy?

What are Your Stock Market Predictions?

DEBATE TOPIC ARCHIVE

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

What is BP's Liability?

Given some borderline demands from the US Administration, we want to know how far you think BP's liability extends. So, what is BP's liability?

The outrage of our nation and fervor of our president at the alleged negligence of BP (NYSE: BP) have all kinds of creative ideas coming out of the White House regarding the degree of responsibility BP has and its liability. BP shares have tanked, as imaginative and aggressive statements couple with logical demands emanating out of the White House - we believe at least partly to appease an enraged populace. This, in turn, has long-term purpose, to keep voters on board by positioning the President clearly on the right side of the argument (with the people against the evil oil company). Of course though, all elected officials carry the responsibility to do what their constituents want, to a reasonable degree, since the crowd should never dictate action (or else riots and massacres would increase).

Certainly, BP should have been better prepared for this catastrophic possibility, and should have resolved it sooner. Definitely, it is responsible for clean-up and retribution to business and local economies destroyed in Louisiana, Florida, Mississippi, Alabama, Texas and wherever the ugly mess extends. That means the shrimpers, fishermen and the tourism industry need to be made whole. There's no doubt about this!

However, some have issued demands around BP that are simply not constitutional, and some of these statements have come out of a White House that has raised my unibrow more than once already (talking about the Financial Crisis Responsibility Fee). The White House has no right, for instance, to demand any privately held institution kill its dividend. The Administration has increasingly insisted BP act to do so. Perhaps the government has no intention of breaking the constitutional line at all, but simply to put public pressure on BP to keep its capital in place. This would ensure it will be available in the future to meet rising damage claims.

The line is also drawn somewhere closer to BP, and farther from the White House, with regard to who pays unemployment insurance for job losses across the Gulf states. It is one thing to require a company to compensate businesses, including sole proprietorships, for the business the perpetrator destroys, and another for it to demand a private institution pay unemployment benefits. Employees and companies already pay for employment insurance as part of their ongoing operations costs; these are the reductions to employee salaries and the related indirect upward adjustment to compensation costs for businesses that must pay employees adequately to meet cost of living demands and competitive landscapes.

To our government's defense, the Administration seems to be mostly acting responsibly. It has formed a commission to review what went wrong in terms of BPs operations, government oversight and/or general regulations. As part of an official White House statement found here, the White House declared:

"We've ordered BP to pay economic injury claims, and we will make sure they deliver. The Small Business Administration has stepped in to help businesses by approving loans and allowing deferrals of existing loan payments... And we will absolutely continue to hold BP and any other responsible parties accountable for financial losses borne by the people in the region."

It's the extent of this "responsibility" that troubles me. So I demand our government be careful not to step on constitutional rights in order to serve the angry crowd. If it fails to do so, hopefully the Supreme Court will not also falter, should it be asked to review decisions made in haste in the future.

Wall Street Greek wants to know what you think about this issue.

What is BP's Liability?

Debate Topic Archive

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

Debate Topic: Gaza, Palestine, Israel

Visit the front pages of Wall Street Greek and Market Moving News to see our current coverage of economic reports and financial markets.

Let's debate Gaza, Palestine and Israel's handling of a powder keg of a situation. There has perhaps never been a more debated topic than the Palestinian/Israeli land claim issue. I would venture to say that only God has been debated more often than this topic.

1. Who is to blame for the latest conflict? Hamas for firing missiles or Israel for reacting to it with its full military might? Or is it Hamas' fault, because of its failure to accept Israel as a state, thereby blocking any chance for sincere long-term accord.
2. Do you believe Israel has not given Palestinians enough freedom in the first place, for instance with regard to the use of its ports. Is Gaza a free state or a prison camp?
3. Is Hamas a terrorist group, or does it represent the Palestinian people, especially those in Gaza?
4. Is Israel simply testing Hamas' capabilities, like it may have with Hezbollah, before engaging in a multi-front conflict with greater enemy Iran?
5. How might Israel and Palestine find reasonable and sustainable solution? What do you suggest is the solution that is digestible by all? This is the question of the century.

See TOPIC OF DEBATE ARCHIVE

Please see our disclosures at the Wall Street Greek website and author bio pages found there. Article interests: NYSE: GAF, Nasdaq: GULF, Nasdaq: TRIAX, Nasdaq: TRAMX, NYSE: EIS, Nasdaq: XISLX, AMEX: DIA, AMEX: SPY, Nasdaq: QQQQ, NYSE: NYX, AMEX: DOG, AMEX: SDS, AMEX: QLD, AMEX: XLF, AMEX: IWM, AMEX: TWM, AMEX: IWD, AMEX: SDK.