Category: Ron’s Commentaries

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Poll Ranks Big Government As Americans’ Top Concern

January 7, 2015—Today, I want to talk a little bit about a Gallup poll that was just done recently. Generally, there are a lot of polls done at the end of a year or at the beginning of a year, but this one particular poll dealt with what are the concerns of the people. Their point was that, generally speaking, the economy is the big issue. On this poll, they pointed out the economy wasn’t on the top. They think the most important issue is big government—the politicians and Washington, DC. They’re just disgusted with the way the system operates.

That is good, but the conclusion has to be correct. Is it because they’re doing things they shouldn’t do or they want government just to operate more efficiently, to run the wars more efficiently, and to make sure that nobody falls through the cracks? Is it to have a more efficient welfare state and come up magically with more money and you balance the budget and you satisfy everybody’s demand? There’s some of that.

This also may mean that the people will say that we have to do something with the government—the government is at fault, they have caused our problems. That, to me, is very healthy. The government leadership is the big issue. Economy was second. It was 17 percent, versus 18 percent criticizing the government leadership. Then, the third one was unemployment and the fourth one was health care. When you think about it, if 17 percent say it’s the economy … unemployment, that’s economics, and health care, there couldn’t be anything more involved in economics. It’s a large portion of the GDP and taxes and people’s satisfaction. Together those are 42 percent, which is pure economic versus 18 percent about government leadership.

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Will Greece Quit Austerity and Get Booted from the Eurozone?

January 6, 2015—Today, I want to make a few comments about a headline appearing in the business news that’s gotten a lot of attention. The headline is “Merkel Prepared to Let Greece Exit the Eurozone.” That sounds like it might not be a big deal. Greece is a small country. Everybody has known for a long time it’s had some trouble and they have threatened to do this. There are 19 countries in the eurozone using the euro. Of course, when things were going well and there was the boom phase of a bubble that has been existing around the world and especially in Europe, it wasn’t a big deal, but a few years ago, it was recognized that Greece had a lot of debt.

Why should this worry the other countries? Because they provided the money; they loaned the money. Our banks were involved as well as the European markets. Especially the German banks were involved and loaned a lot of money to Greece, and then they got into trouble. Then the IMF (International Monetary Fund) and others came in and the bankers didn’t want to lose any money. Of course, the German government was behind a bailout, so to speak, and that was to protect the bankers. They weren’t too worried about Greece, but they came in and said “okay, but you have to have austerity, you have to cut back and raise taxes and start paying these debts down.”

That went well for a while until that just deepened the depression in Greece, even though right now they’re saying Greece is finally out of the recession—which is rather ironic. They’re having this major, major crisis. They come along and Greece says to them, well, we don’t like what’s happened. The parliament was suspended, they’re going to have an election, and there’s fear that the far left will win. And if the far left wins, they’re demand is let’s just give up on these austerity programs and default on the debt.

It sounded like from this headline that Merkel is prepared for this; it’s no big deal. But other people in her government are disagreeing. Mario Draghi from the European Central Bank, he’s opposed to it, and this is why there has been some market ramifications from this. The fear is that some other countries will do the same thing, because if you look at Italy and Ireland and a few places, they might do the same thing. It might be the crackup of the eurozone.

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Obama Wants to Government to Pay for Junior College

January 10, 2015—Another free program coming from Obama! He wants to take care of us and have a little bit more involvement in the educational process.

But he has proposed a new program. For how many? You know, a few scholarships? No; it’s for everybody. Everybody can get it that wants it. The astounding thing is that one of the results from this will be that the cost of education is going to go down and it’s going to be a miracle. Everybody’s going to get educated. The cost of education’s going down and it’s always free.

But when the government says something is free, they should ask the next question: “Where does the money come from?”

Because is anything ever really free?

The government either has to take it from somebody else, borrow the money or print the money. So there’s always a cost to it. There will be a cost to this because you just can’t get something given to us under the guise of it being free.

The way Obama described it, he says you’ll have a free education “if you’re willing to work for it.” That sounds pretty good. Most of the individuals that I went to school with didn’t get a free education but they were willing to work for it and it was available.

I think that’s still true today. There are a lot of people who still work and save money and pay their college tuition. But the cost of college has gone up, and that has to do with the government giving so many scholarships and loans. More people did get to go to college but what was the result? The cost went up. He’s saying the cost is going to go down and that’s an impossibility. It won’t go down.

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