Rich Kinder calls this stock market: "...a Chicken Little, the sky-is-falling market."

Rich Kinder is the founder of energy giant Kinder Morgan. His analysis of the current investment environment, I admit, parallels my own. But (very) Rich Kinder has much better credentials than do I. There are very knowledgeable people who disagree with (very) Rich Kinder. No one is infallible. I am posting this to point out that when I state opinions, they generally come from something more than mere "gut feelings." I usually have both a statistically substantiated basis, combined with opinions of people who have far better credentials in either an academic sense, a practical sense, or both. (Very) Rich Kinder does have both undergraduate and law degrees from the University of Missouri. He started his career as an attorney for the company that became Enron. And we all know what happened to that company. But he rose into corporate governance there, learned a lot, and then formed his own company which has now become an industry giant.
Here's the link: https://www.yahoo.com/finance/news/oil-industry-legend-rich-kinder-13221...

I do miss Guest Zero so much! I'm sure he would have something very contrarian to say about his post. I just could not share his overly pessimistic view of our nation and the world, but he did force me to think! Saying that, he could still be right!

No votes yet

by someone who has had a modicum of success in our economic system -- Warren Buffet. As he points out, especially when no incumbent is running, it seems as though every candidate for POTUS is preaching doom and gloom to us. Well, Buffet says it much better than do I. Here's a link to the story about his general view of America's future: http://www.reuters.com/article/us-berkshire-buffett-election-idUSMTZSAPE...

I can't help but reiterate one thing Buffet stated. "For 240 years it's been a terrible mistake to bet against America, and now is no time to start," he said. "America's golden goose of commerce and innovation will continue to lay more and larger eggs. America's social security promises will be honored and perhaps made more generous. And, yes, America's kids will live far better than their parents did."

America is, simply, the greatest nation in the history of the world. Why do you think that all of those immigrants want to come here? Because things are bad? DUH!

The electorate is clearly favoring Washington outsiders. If the economy were as strong as you say Biden would have run and would be winning.

MikeyA

mean that we have no problems here. The Donald -- being roundly cheered, and copied by other Republican candidates I might add -- has pledged to build a wall TO KEEP OTHERS OUT, NOT TO KEEP AMERICANS IN! If America is doing so badly, why do so many millions want to get here, and why are so few leaving?
Your argument, Mikey, is with Warren Buffet and (very) Rich Kinder. As Buffet states, the negativity is what "outsider" candidates profess during an election campaign. That doesn't make their characterizations factual.

As an example I've used before...ask most Americans about violent crime rates, and they'll say that violent crime is at an all-time high. Why? Because that's what they see and hear from the media, (and what many candidates for POTUS strongly imply). You and I have had this discussion before. "If it bleeds, it leads," is not just a hackneyed expression. It still pushes news coverage. However, the truth is that violent crime has dropped quite dramatically. In fact, violent crime rates are about ONE-HALF of what they were 20 years ago! Here's a link to actual FBI statistics: https://www.fbi.gov/about-us/cjis/ucr/crime-in-the-u.s/2012/crime-in-the...
Just because something is "common knowledge," doesn't mean that it is -- in fact -- true!

If America is not the best place to live, Mikey, where would you choose to live? I'm staying here, myself!

characterize Joe Biden's decision not to run for POTUS. After all, his son died so close to "Decision 2016!" And, he would have had to travel a most difficult road just to get the nomination, facing off against Hillary and the Clinton electoral machine.
The fact that you believe that Biden made a cold, calculated political decision based upon the state of what you and others characterize as a failing economy, says a lot about how you would make such a decision. Don't ascribe your own motivations to anyone else without actual evidence.

Apparently you missed my point. If the economy were THAT good he'd walk to the nomination. Hilary and Bernie would be like Webb and Chafee were.

EVERY poll says jobs and the economy are their #1 issue. And the Dems are the least trusted on those issues.

Why don't you drive to Indiana and tell the employees of Carrier air conditioners how great the economy is?

MikeyA

economic "miracles" he has performed in Ohio! Anyone can take one individual example and condemn the entire system. And, I clearly stated that we do have problems. But, if things are so bad as you and the Republican candidates claim they are, why do we need a wall to keep newcomers out? Why don't we need a wall to keep the "suffering masses of Americans" in? And, if things are so bad here, Mikey, to which other country are you moving? IMHO -- This is the greatest country in the history of the world! I'm staying right here, myself!

As far as Biden is concerned, you, first, totally ignore his personal loss. And, you secondly ignore the fact that Hillary, being a major part of Obama's first administration, would and will benefit from the better, albeit flawed, economy we now have. Biden would have had to "walk" over the former Secretary of State!! Bernie might still [and almost certainly would, if Biden had been an alternative candidate] go the way of Webb and Chafee, but not Hillary and the Clinton electoral machine!

Biden is still contemplating jumping in if the nomination isn't sewed up. So his personal loss has little to do with it.

Also if the economy was that good and if Bidens choice were solely on his personal loss then Hilary should have had it wrapped up after New Hampshire

MikeyA

Thank you for your special insight!
Once again, I state that you should not ascribe the decision-making process of a public figure to your own decision-making process.
IMHO -- Biden is not going to jump into the race. If Bernie appears to be the Democratic nominee, I see Michael Bloomberg jumping in as an independent. Again, IMHO, that would hand the Presidency to The Donald!
Saying all of that, barring some kind of huge gaffe or revelation of something considered to be egregious by a larger audience than just highly partisan, right-wingers, Hillary is going to sew up the nomination by the end of March, and maybe before. Have you seen her lead in actual delegate counts? Here's a link to the latest counts: http://www.bloomberg.com/politics/graphics/2016-delegate-tracker/

And, as far as a brokered Republican Convention is concerned, The Donald currently has more delegates (81-50) than all of the other Republicans combined! That's called a majority! If this trend continues, The Donald will maintain a majority of the delegates selected, and there will be no brokered convention.

I agree Bloomberg is more likely to jump in the race than Biden. But that is because Bloomberg has a better shot because being tied to the current administration means being tied to a lot of bad policies and a stagnated economy.

I also agree it is very unlikely there would be a brokered convention on the GOP side.

MikeyA

of negativity." Do you deny that America right now is the greatest nation in which to live anywhere in the world? If this is not true, where do you want to live? I'm staying right here, myself!

If things are so bad, why are they so much better than they were just 7 short years ago? Here are some actual facts to chew on:
October, 2009 -- unemployment, 10.0%
January, 2016 -- unemployment, 4.9%
Standard & Poors stock index: October, 2009 -- 1036.19
Standard & Poors stock index: February, 2016 -- 1932.23
AND -- Over 16 million more Americans now have health care coverage!
AND, the violent crime rate is down about 20% under Obama, too!

Now, if someone wants to run on those factual statistics, they should do quite well!

Selective reading Dale. You ignore the bad stats and only focus on the good.

If the economy is doing so well why is it the economy/jobs has remained the #1 issue to voters since 2008?

The unemployment doesn't factor in those who left the workforce so it's rigged statistic. http://money.cnn.com/2015/07/15/news/economy/europe-america-workforce/

The stock market is not a good indicator of US health. In fact since Obama became President the rich have gotten richer and the poor have gotten poorer. So much so that it's the widest ever recorded in the US. http://thinkprogress.org/economy/2014/12/18/3605137/us-wealth-gap-at-its...

US GDP has stalled and even dropped. http://www.worldbank.org/en/publication/global-economic-prospects/data

Well we will see about violent crime because after 20 years of drops several large US cities have reported significant increases. Milwaukee, St. Louis, Baltimore, DC, Dallas, New York, Chicago, Kansas City, and Philadelphia have all seen significant rises in 2015. http://www.nytimes.com/2015/09/01/us/murder-rates-rising-sharply-in-many...

MikeyA

for decades. If you want anecdotal evidence, I have seen more signs out seeking workers, and more public notices of businesses seeking workers, in the past year than at any time in the past 8!
The economic divergences started under Reagan when he fired the air traffic controllers, and exacerbated the evisceration of unionism in America. And even though union membership is at the lowest in decades, and even though long-time right-to-work-for-less states like Mississippi and South Carolina, have almost NO union membership and are consistently among the poorest economically in the nation, right-wingers still want to beat the dead horse of unionism, and make unionism a scapegoat for the greed of American businesses. More than any other factor, American business greed is what explains the loss of so many good-paying jobs to other nations in the world. And when Bill Clinton became a big supporter of NAFTA, Republican leaders couldn't get on board the train to undermining U.S. jobs fast enough. Now, that was bipartisanship which has made more problems than it has solved, except, of course, for giant international corporations, and the billionaires who invest in them! Bill was dead wrong on that one, but most Republicans jumped at the opportunity to enrich their billionaire benefactors. (Why do you think that Hillary gets so much support from "Wall Street?")
Under W's taxation policies, when, contrary to Reagan's view, investment income was taxed a much lower rate than was earned income, the divergence between the average American, and the super-rich went into high gear. Under Obama, the tax rate on investment income was increase by 33%, but it is still lower than many common workers pay for their earned income. That explains why Warren Buffet can prove that his secretary pays a higher percentage of her total income in taxes than he does. That also explains why, in 2010, the only tax returns that Willard would release before the 2012 election, he and his wife paid a lower percentage of taxes on their total income, than my wife and I paid on a tiny fraction of their income level! In other words, Republican policies did more to cause divergence in income levels than did Democratic policies. The POTUS can propose lots of things, by the Republicans in Congress can block almost everything! And have!

So, you still have not answered, Mikey. If America is not the best nation in the world in which to live, which nation is? And if there are better places in the world in which to live, where are you going and when? I'm staying here, myself!

Buffet about the overall health of the American economy, especially when measured against EVERY OTHER COUNTRY IN THE WORLD!

universally predicting doom and gloom if Obama would be re-elected. We were supposed to be plunged back into another Great Recession by this crazy, Muslim, Kenyan. Guess they were wrong.
Guess what? We now have those who are talking "doom and gloom" if we elect a Democrat in 2016. My prediction is that they will be wrong once again. However, if we get President Trump, all bets are off!

We've been reporting for years that reagonomics is a fraud and how the phony Tea Party has been usurped by Corporate America. https://www.youtube.com/watch?v=acLW1vFO-2Q Finally the rest of America is catching on. So as all the wealth has gone to the 1% we see the rest of the FoxNews/WSPD uninformed crowd finally catch on. Remember the $100,000 painted buses from Heritage that used to show up at WSPD for morning Tea Party interviews? They've been had and as Sarah Palin says they are mad. https://www.youtube.com/watch?v=0pinZNYxQeo
So now we who new this ten years ago can sit back get a ham on rye sandwich and watch the newly frustrated zero in on the real problem.

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

These are signs, of our economy's growing strength from the nation's two largest retailers. Here's a link to an article about this: https://www.yahoo.com/finance/news/costco-raising-minimum-wage-competiti...
Among other things, the article states: "Retailers are under pressure to boost wages as unemployment falls below 5 percent and 14 states have raised their minimum wage this year. Wal-Mart Stores Inc., which operates the Sam’s Club warehouse-style chain, a Costco competitor, lifted its pay floor to $10 an hour this year and gave a one-time increase to more than 1 million workers. Costco didn’t say how many of its 117,000 employees would get a raise."
Please note that, according to Costco, "The increase will cut its earnings per share in the next three months by 1 cent, and by 2 cents in the following three quarters, the Issaquah, Washington-based company said." That shows, demonstrably, how little increasing salaries truly affects the "bottom line" in most giant businesses. Too many want to squeeze every penny from the employees who do the real work for their respective businesses. Give the workers a living wage for Pete's sake!

Here is an article about the jobs report for February. Please note the revised INCREASE in jobs for the previous two months. http://money.cnn.com/2016/03/04/news/economy/us-economy-february-jobs/in...

The article does refer to those "nattering nabobs of negativity" aka the Republican candidates for POTUS. And, as the article also points out, and as I have stated many times, things could be better. However, the problems with the U.S. economy are far overblown for political purposes. And the other major countries in the world are not only in worse shape than is the United States, the economic problems in OTHER nations are negatively affecting the U.S. economy. Despite those disappointments, overall progress in the job market is a sign of the U.S. economy's resilience in the face of a global slowdown.
"'Other parts of the world -- from China and India to Europe and Latin America -- are suffering from slowing growth. The U.S. economy isn't immune to the headwinds from abroad: the U.S. manufacturing sector is in a 5-month recession.
Still, the economy has shown signs of strength early in 2016 amid many red flags from overseas and the negative talk from U.S. presidential contenders,' says Jack Kramer, co-founder of MarketSnacks, a daily financial newsletter.
'If you read the front page of newspapers today, you'd think the economy is crumbling,' says Kramer. 'Things are much better than those headlines would make you think.'"

As Obama pointed out moments ago, not only have we had actual job growth for 72 straight months, 6 straight years, but jobs have grown every year, "...since I signed that jog-killing Obamacare." Not only does The Donald lie, but ALL of the Republican candidates for POTUS lie about America! We are -- right now -- the greatest country in the history of the world -- with all of our problems! The idea is not to blow everything up and start over. We must build upon our notable successes to make a better future for ourselves and our posterity!
As Obama also noted, America is great right now. And, we could be greater, even with all of the problems overseas, if the Republicans in Congress would set partisanship aside and work with the White House to make America even greater. As a concrete example of the negativity in the Republican-controlled Congress, Obama cited that the Republicans want to cut funding for job training! JOB TRAINING CUTS!?
And, you'd think that the Republicans in Congress would get the message, right? While Obama's approval rating is not great, hanging just below the 50% mark, Congress is down around 11%! It's a "do-nothing Congress." The American public deserves more!

Still not enough jobs to replace those who left the workforce. Thus the rich/poor gap will continue to grow. That does not give people hope for the economy. Poll after poll supports this.

MikeyA

The Bureau of Labor Statistics has been collecting data the same way for 60 years or more! There were discouraged workers back in 2009 when the unemployment rate was up to 10.0% USING THE SAME MEASURING TOOLS! Here are two more links with more of the facts that keep getting in the way of your partisan negativity: http://www.theatlantic.com/business/archive/2016/03/feb-jobs-report/472287/
http://mollysmiddleamerica.blogspot.com/2016/03/how-many-jobs-has-obama-...
It is the constant bombardment of MISINFORMATION from the "nattering nabobs of negativity" that gives most Americans the false impression that things are worse under Obama than ever.
BTW -- I know that you're a little young to remember this, but the term, "nattering nabobs of negativity" was coined by Spiro Agnew when he was VPOTUS with Nixon, describing those who, in his eyes, fallaciously criticized the Nixon Administration.
In addition, remember when the 2012 POTUS campaign was going on? And, what did the Republicans say, almost universally, including Willard and The Donald? They ALL said that a second Obama term would mean less jobs, higher unemployment, and another Great Recession! WRONG! So how can we place any credence in their caterwaulings now? And, Mikey, "poll after poll" show Obama's approval rating just below 50%, and the Republican Congress's approval rating barely above single digits. What is that message?

And now, Mikey, I have 3 questions for you. One, if things are so bad in America, why do we need to build a wall to keep people out? Two, if things are so bad in America, in which country are things better? (And, if things are so much better in some other country, why are you not permanently moving there, Mikey.) And three, if things are so bad, why do the Republicans in Congress want to cut funding for job training? http://www.nationalskillscoalition.org/federal-policy/federal-funding
Personally, I love America! I continue to contend that America is the greatest nation in the history of the world. I'm staying right here, myself!

in employment after Bill Clinton left office, and before Obama's policies took hold! Remind me, Mikey. Who was POTUS in between Bill and Obama?
And the first graph shows how bad thing were, and how much they have improved, since Obama became POTUS!

Thanks for the post, Mikey!

Notice that you are ignoring the Obama recovery really isn't one.

MikeyA

BTW -- 72 months of job growth in a row is a record for our country!

And under whose leadership did things get so bad before Obama's programs took hold?
And which ideologues predicted that the economy would get WORSE under Obama?
And why are Obama's approval ratings so much higher than are those for the conservative, Republican Congress?
And why did COSTCO and Walmart raise starting wages after so many years?
And why do we need a wall to keep people out?
Which country is better to live in than the United States?
Why do I see so many more signs asking for people to apply for work?
Why are so many companies holding job fairs, with real jobs to offer?
And why are (very) Rich Kinder and Warren Buffet stating that things are better than the "nattering nabobs of negativity" have convinced so many of us they are?
Argue with them, Mikey!

BTW -- I still love America. I wouldn't live anywhere else in the world!

raised wages to keep and attract more workers in recent months?

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