What if President Barack Obama was your investment advisor? For someone to be your investment advisor you would need confidence in their abilities to do the job and of course you would also have to like and trust them. In other words, for starters you’d prequalify them by asking them to show you their credentials and then you’d spend some time getting acquainted to find out whether you liked and trusted them on a personal level. Based on that you’d make a determination whether or not you would allow them to manage your portfolio of savings. Unfortunately four years ago too many trusted the media to do a fair job of vetting the presidential candidates and now some three plus years later we are at a crucial stage in regards to the the future course of our nation and most of the media are still acting like lapdogs for the President.
That leads us back to the initial question asked in this post, “What if President Barack Obama was your investment advisor?” We’ll come back to that…
Per the Heritage Foundation , so far, 34 companies that were offered federal support from taxpayers are faltering — either having gone bankrupt or laying off workers or heading for bankruptcy. The latest of these is LG Chem, a Korean-owned company with a battery manufacturing plant in Holland, Mich. They received a $151 million grant through the federal stimulus program and another $100 million in promised credits from Michigan taxpayers. As recent as two years ago, President Obama bragged the company was helping to transform the state to “a green economy” and would bring “not just any jobs,” but “jobs in the industries of the future.” Recently, some workers went on record telling WOOD TV in Grand Rapids that “as much as they want to work, there’s nothing to do.” Also,“We were given assignments to go outside and clean; if we weren’t cleaning outside, we were cleaning inside. If there was nothing for us to do, we would study in the cafeteria, or we would sit and play cards, sit and read magazines.” said former employee Nicole Merryman, who said she quit in May. She also said, “It’s really sad that all these people are sitting there and doing nothing, and it’s basically on taxpayer money.”
This failure is right after another “green energy” failure. A123 Systems, another battery company, declared bankruptcy this week. This was another company promoted by President Obama and top Michigan Democrat politicians. Here’s a video click for video uncovered by CAPCON, (Michigan Capitol Confidential) of President Obama, (then) Gov Jennifer Granholm, Senators Carl Levin & Debbie Stabenow, and U.S. Secretary of Energy Steven Chu promising “hundreds” and “thousands” of jobs.
As Governor Romney said in the first Presidential debate to President Obama, (paraphrased) “one of the problems of you picking winners and losers is that you pick all the losers!”
So again, “What if President Barack Obama was your investment advisor?“
Well, here’s the bad and good news, in that order. First, President Obama is in a sense in a position of fiduciary responsibility giving that he is making decisions on where and to whom our tax dollars go, matters of taxation and legislation of industry, etc. His track record is abhorable and what is worse he’s doing it with money that doesn’t even exist yet and placing the debt on future generations. Now that’s truly unpatriotic, – I’m using his own words to indite him.
The good news is we have an election in just two weeks and based on his dismal record it’s time to fire him. So make sure you vote and if possible vote early!
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