Mann to Man

The American Condition Politically, Culturally, Economically

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Location: Williamsburg, VA, United States

Raised in rural Greenbrier Co. WV, BS Chemistry WVU, PhD Chemistry, GA Tech,Chemistry Faculty, GA Tech, 1965-1969, Dir R&D BASF Fibers 1969-1982,Sr.Exec. R&D, Burlington Industries, 1982-1986,Owner/CEO Mann Industries (formerly BASF fibers)1988-1995, CEO/Owner The Mann Group Consultants, 1987-2009, wife Carol, daughters Leigh, Susan

Friday, January 27, 2012

APOLOGY TO LOYAL READERS -- ANOTHER ONE

I apologize to loyal readers for no posts for a few days. There is so much to write about, especially after we were subjected to the worst "State of the Union" address in my lifetime. Why the worst? A hyped campaign speech tells us nothing about the national condition! I will try to write a piece, "A Truthful Look at the State of the Union," that speaks to the critical issues very soon.

I am with my ill daughter at Indiana University Medical Center. I  should have some time by tomorrow, 28 January, to write a bit. Family and friends' personal issues get priority!

Sunday, January 15, 2012

GOVERNMENT MUST BE RESTRUCTURED -- NEWT GIVES THE ISSUE TO OBAMA

Another thought for the day to add to those below.

Our bloated, cost-burdened, dysfunctional government must be restructured and streamlined to be better matched with the economy where structural problems will persist in retarding capital formation and economic expansion well into the future -- forever with the current administration run by it's czars and radical appointees. Absent effective restructuring and decreased spending, taxes cannot be raised to meet increased cost of government. It's a catch-22...increase taxes on everyone and everything and kill any expansion that might be possible.

So, as this reality should be foremost in all presidential candidates minds and we need to elect a true leader who understands this need and how to effect it, Newt destroys the issue by disparaging the very essence if restructuring in an attempt to destroy the electability of perhaps the one candidate who has experience in restructuring and in capital formation. I have not committed to any candidate, only against Obama, but Newt's persistence, and that of his PAC, to destroy Romney is handing the issue to Obama. 

Obama is not an effective president and is not a leader, but he surely knows how to campaign. He has already captured the issue with claims that he "will restructure government." Of course, he won't and will continue to bloat it, but non-discerning (no, ignorant) voters will buy into his slick rhetoric as will the shills he recruits to stand with him as he pronounces his intentions.

I am disgusted that the campaigns and debates have gone in such a destructive direction without regard for what is best for the largest number of Americans.

THOUGHTS FOR THE TIMES

-- Replacing Obama is rather like applying a tourniquet  to a ruptured artery. The bleeding must be stopped to permit repair of the damage. 
-- We won't have a perfect candidate, or an ideologically pure one, to replace Obama, but it is imperative that he be replaced by a person who loves America, believes in "traditional" America and unites Americans rather than polarize to achieve a radical agenda as Obama is doing.
-- For me, a conservative, a good old-time Democrat would be OK (to stop the bleeding), but no Democrat will challenge Obama. Also, Democrats of today are not at all like the Democrats of most of my forebearers.
-- Narcissism trumps all other personality traits as well as judgement and wisdom. Obama and Gingrich are prime examples
-- Intellect does not equate to wisdom or judgement. Gingrich has the intellect and is an example. Obama is not. His proclaimed intellect has not been confirmed by actions and he has a serious deficit in judgement and wisdom. (This is a subject of a post later....his decisions on oil, exports and unions are examples of terribly poor judgement).
-- The best among us don't get elected to high office. Harry Reid demonstrated it this morning on Meet the Press.
-- Those elected to office are too often not the most honest. Harry Reid .... read above!
-- The most intelligent among us don't get elected to office. Read Harry above again!
-- Words and how they are used are of great importance. Mitch McConnell ignored that when he said that the senate's goal would be to "make Obama a one-term president." I said at the time it would haunt Republicans forever. It will, surely through 2012.
-- McConnell can be put into the same cacoon as Reid above. 
-- Mitt Romney's statement, "I like to fire people," was ill-advised and I said so as soon as I heard the words. Context doesn't matter because nobody hears anything but the 5 words. It'll be used on him over and over.
-- Santorum's comment, "we don't need a CEO, we need a leader," was naive if not stupid. A primary requirement of a CEO is to be a good leader. Further, a real leader will have other attributes necessary in a CEO. Obama epitomizes what is not a CEO and is not a leader in anything but self-promotion and polarization.
-- Santorum's comment is doubly serious at this point in time when our national condition is critical. Our president must be a real leader who understands how to analyze and assess problems, lead and persuade others to develop problem solutions that are best for all Americans, not just for special voter blocs, the Obama style.
-- Republican candidates' performance in debates has, too often, been poor. Their poor performance has been trumped, however, with absolute idiocy of the left-winged, brainless questioners (Gregory, Stephanopolis, Sawyer, Cramer!!, Bartiromo!!!, more).
-- Obama has polarized the nation and waged class warfare like no other before him. He has focused on all the wrong issues while building dependent voter blocs.
-- Government does not create private sector jobs, not productive ones. Government either promulgates policies that are conducive to economic expansion, hence job growth, or their policies discourage economic expansion. Obama has done the latter, hype to the contrary notwithstanding. 
-- If Obama is reelected, "traditional America" will be no more. Her heart will beat as another entity, but her soul will be gone. Obama's Imperialist style, as demonstrated consistently, will assure it.

DEBT-TO-GDP -- CORRECTION OF PREVIOUS POST

Debt to social security is $4.8 Trillion...... not Billions as incorrectly posted previously.

Friday, January 13, 2012

DEBT TO GDP -- INTEREST -- OBAMA'S INCREASE REQUEST



Finally, more reporting media have "found" the truth about the national debt-to-GDP ratio. Out is the foolish claim that only "outside" debt counts and $4.8 Trillion debt to Social Security isn't material. Truth is that the ratio is now 102% -- Greece-like. I heard the truth on Fox News and was informed that Drudge posts it too. Don't follow Drudge.

Now Obama requests approval for an additional $1 Trillion of debt. Absent a counter-balancing increase in GDP, the ratio will be nearly 107%. Who among you can predict that increase will be offset by added revenue? Who thinks it's acceptable?

For the misguided (OK, foolish) economists, such as Krugman and Blinder, Princeton's "finest", who say that debt "doesn't matter," interest on the debt is now $454 Billion/yr  and soon will be 1/2 Trillion dollars.

Who among you can  forecast an increase in GDP that would get the ratios to acceptable levels. Absolutely can't happen. Sorry, it is what it is. 

We are about to join the PIGGS of the EU.

NEWT IS OFFBASE -- A READER'S REPONSE

With his consent, I am sending a response, from Jim in Florida, to the the post that generated some controversy a couple of days ago. The way our candidates are handling the issue of Bain and Romney is detrimental. I heard Chris Wallace of Fox News mention that "the inoculation might help" Romney. Handling the issue the way Newt is, although I understand his anger, is not inoculation at all. Rather, it is expanding (exploding) the issue to an extent that the anti-business positions of Obama will be well-reinforced by November. 


I suspect I have more direct experience with venture capitalists and investment bankers than most, and I can be very critical legitimately, but again.......the way the issue is being handled is utterly irresponsible. 


One aspect of this that may not be obvious is...... it shows the difference in legislative types and executive types as well as highlighting the political type (which Obama epitomizes). SEE JIM'S COMMENT BELOW.


Joe:

You are right - agree with you and the item in today's WSJ. All of the remaining GOP candidates (and everyone else who is able) need to take this opportunity to explain Bain, other similar entities, hedge funds, venture capitalists, management consultants, etc, and how these entities differ in their functions, in quality and effectiveness, in what they do and how they relate to and function within our economic system. Compare and contrast with John Corzine's firm (can't find the money?), Madoff, other Ponzi schemes and other scams.
This is a "teachable moment" as BHO and buddy Rahm say! Let's keep the conversation and education going.
Jim

DELAY IN POSTING -- OBAMA MUST BE REPLACED

Once again I'm delayed in getting a couple of promised articles posted. Excuse is, family priorities trump all other, and will continue to do so. That's obligatory, but excuses are just excuses..... resolve nothing.

I want to share thoughts and hard examples of reasons that Obama must be replaced. The current disgusting debate among Republican candidates takes the focus off the real critical issues and Obama's absurd policies, any one of which disqualifies him to lead us. The mess gets messier daily.

Thursday, January 12, 2012

OBAMA'S FAILED POLICIES EXPLAINED

 
The article in this link breaks down the Obama policies and promises with some truth vs. the hype and sound bites of the media sycophants. References are given.
 
One of the most interesting to me is the number of jobs lost or gained since the stimulus. Even locally an acquaintance of far left persuasion wrote a misguided letter puppeting that the stimulus created 3.5 million jobs. Bunk! There is much more.
 
Truth is hard to find these days!!


BUFFETT'S DECEPTION -- DISHONEST SHILL

www.businessweek.com/magazine/content/04_48/b3910401.htm

Click onto this link to access the Bloomberg article on Buffett's charity giving. Some time ago (and I have not found the reference again), USA Today did a survey of major charitable givers. Until Buffett gave his wife's $2.5 Billion Berkshire Hathaway stock to The Gates Foundation, he was a real piker...compared to less wealthy people. He has been utterly dishonest as he shills for Obama, but it is nothing new for him. The press just doesn't cover this aspect of Buffett.

Once again Warren Buffett makes a mockery of the tax issue by challenging Republican Senators to write checks for taxes and he'll match them. He's at best simply playing games. Duplicitous!!


When challenged on his tax avoidance in foundations established by each of his family members and The Gates Foundation, his comment was that he believed the foundations would use funds more effectively than the government. Yet it's OK for the government to take more money from people who are not wealthy as he is and use it inefficiently!! Dishonest!


Now the clincher: Buffett uses this excuse in spite of the fact that Bill Gates has admitted publicly, even in a Wall Street Journal Opinion piece, that his foundation's focus on education has failed. 
How many people know this? How many care..... including the press??



Wednesday, January 11, 2012

NEWT IS OFF BASE

I've known Newt Gingrich in the past and have worked with him a bit. I have respected him and am one of many who would like to see Gingrich-Obama debates.

In spite of these positive aspects, I "wrote Newt off" early when he blew a Meet the Press interview with David Gregory with comments about Congressman Ryan's budget plan and even worse when he muffed his response to Gregory re Obama being a food stamp president. He wasn't quick enough on his feet to turn the issue on Gregory. He didn't live up to his billing.

Then I thought he was coming back as an adult in the room. But now the flap over Romney and Bain Capital.....a business with which I have experience.....and not all good. Yet,  Newt is wrong in spite of his justifying his position as defending himself against PAC attacks.

Fact is, he is letting his narcissism drive his personal feelings rather than to use his intellect and knowledge to help prevent destruction of America. Sorry, but it is what it is.

CORNELL WEST, PRINCETON PROFESSOR

Cornell West is on Hannity and I am, once again, reminded of why I don't watch Hannity much anymore.
 
Yesterday I read a Krugman column, a couple of days ago one by Alan Blinder. All 3 of these Marxists are masquerading as legitimate Princeton professors who, unfortunately, exemplify what populates college faculties today. These far-left trough feeders brainwash our children under the guise of educating them. Is it any wonder that America now ranks 26 and 27 in UN standards for math and science.

Krugman and Blinder are both died-in-the-wool Keynesian "economists" and West feeds on racism and is not worthy of the title of professor, once a lofty title, but no more.

Colleges and universities have become havens for left-wing political activism and are no longer sanctuaries for learning and the freedom to create.  I remember when it was very different.

Radicals of the 60's are now in control. To doubt it is to be delusional or totally uninformed.

Tuesday, January 10, 2012

DEBT TO GDP 102% -- MEDIA GETS IT NOW?

This post is dedicated to friend, Randy.

Randy, yesterday, I heard a Fox News reporter state that debt to GDP is now 102%. They, like all media, have been talking 70%, or just outside debt. I was shocked and blurted something that Carol thought I shouldn't have said. Could it be that Fox folks have read our exchange on the subject? Fox has had my blog address and just last week I sent it directly to Roger Ailes, CEO.  Stranger things have happened. We'll watch for more.

OBAMA'S FAILED KEYNESIAN ECONOMIC POLICY


Keynesian economic theory postulates that nations can borrow and spend, as well as devalue, their way out of economic distress. It was promoted by liberal British Economist, John Maynard Keynes in the 1930's and has long been the the predominant economic theory taught by liberal academic economists (virtually all academicians). It is also the economic policy of the Obama administration. Keynesianism has failed profoundly wherever practiced, yet the Liberals/Progressives continue to promote it. The practice of Keynesianism, along with public service unions, have destroyed the socialist PIIGS of the EU economically. 

Burdensome debt, now at 102% of GDP, with unfunded entitlements taking it to 400+% of GDP, will do the same to America. Don't doubt it!

Obama's Keynesian spending “stimulus” is also a huge failure, notwithstanding claims of success by the administration and its sycophantic media. Obama and Jeffery Immelt, the “Jobs Czar,” were foolish, irresponsible, immature, unpresidential and just disgusting when they made a joke about its failure. Obama simply laughed and said, “I guess shovel-ready jobs weren't as shovel-ready as we thought,” hence, hence obfuscating the failure.

The piece posted below is from friend, Eric, a thinking person. There is much more to say about failure of Keynesianism, but this is a good write. Recently, a doctor friend of the liberal persuasion wrote in our local paper that “it's time to quit talking down about Keynesian theory,” probably in part to rebut my essays. It isn't! It's time to educate the masses on just the fallacy of a theory that has never been proven in practice...and how it is the wrong policy for America.

The end of the Keynesian era

New York, NY - The beginning of the Keynesian Era can be dated, perhaps, to September 1931 - the year when Britain intentionally devalued the pound, throwing the world into turmoil and currency conflict.

Today, we are again in an extended period of economic crisis. However, I suspect that this will turn out to be the end of the Keynesian Era - the time when it is, in fact, Keynesianism itself which destroys us.

"Keynesianism" is really just this century's version of Mercantilism, which dates from the beginning of the 17th century. There's nothing particularly new or original about it. Behind the billows of academic obfuscation, it amounts to two policies: exaggerated government spending in the face of recession, and some sort of "easy money" policy. Although the term "Keynesian" has become unfashionable, virtually all academics and government economic advisers are Keynesians today.

The primary attraction of Keynesianism, is not its wonderful overall results, but rather, that it provides a good excuse for politicians do to what they wanted to do anyway. Any politician knows that a certain way to increase one's popularity is to hand out government money. In a recession, politicians are likely worried about their declining popularity, and thus their first instinct is to hand out more money. The Keynesian economists often boast that the money can be spent on total waste, such as "digging holes and filling them back up".

The other Keynesian trick is some form of "easy money" policy, which usually results in a decline in currency value. Currency devaluation can, in some cases, result in what appears to be a short-term improvement in economic conditions. However, it is said that "you can't devalue yourself to prosperity", and it is true.

Monday, January 9, 2012

APOLOGY TO LOYAL READERS

I apologize for no posts recently when there is so much for us to discuss. I have been with my ill daughter for a couple of weeks and have given her priority.

Much is happening with our critical national condition. Government is dysfunctional in Washington as Obama "governs" (an overstatement) without Congress (even in contempt the "equal" branch). And, the Republicans are demonstrating a high degree of irresponsibility in debates as what will be the dirtiest, most dishonest and expensive election campaign in history has begun.

If the Republicans continue to destroy each other with utterly stupid debates that play right into Obama's strategy, Obama will be reelected. I am dismayed....no I'm totally disgusted with the candidates.

Obama's reelection will be the end of "traditional America" and the beginning of control by an Imperialist president. Oh, I almost forgot, he has already started by ignoring Congress.