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Wall Street Strategies has been providing independent stock market research since 1991 to individual, retail and institutional clients through a balanced approach to investing and trading. Charles Payne, our founder and chief analyst, is routinely sought after for his stock market, political,... More
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  • HAVING THEIR CAKE... - By Charles Payne 2 comments
    Feb 14, 2014 9:59 AM

    David Won, We Litigate Against Goliaths Everyday
    -Valorem Law Group

    In a nation bulging at the seams with $17 trillion in debt and much more in unfunded promises, one would think there would be ideas about curbing spending and reducing promises. Instead, the welfare society is the focus, where the president proudly talks about 46 million people on food stamps, and where the plethora of social transfer payments means more debt, and more unfunded promises. Even with the shenanigans of the Federal Reserve, money printing is the underlying economic law about which one of Margaret Thatcher's most famous warnings is coming to pass.

    "The administration is indeed running out of other people's money. "

    So, what to do now? Go after one of the last honey pots out there -corporate cash. Yes. In addition to having the highest corporate tax rate in the world, there is a scheme brewing out of Chicago to take an even bigger chunk. The Valorem Law Group is asking Attorney Generals in several states to consider a lawsuit against fast-food, and others in the food chain (no pun intended) of unhealthy eating options and choices. The playbook is not unlike the one used to eventually extract $246 billion from the tobacco industry. It would make sense; this desperate move at some point will get backing from the administration and the media.

    Couple this with attempts to make low-margin businesses pay higher minimum-wages, and hijack repatriated profits from large corporations, and make them all pay a fortune in higher healthcare costs, and make them adhere to a never-ending mountain of regulations. It's an audacious money grab, but the kind of desperation comes with reality getting closer and closer. The nation is straining to grow, while millions are being encouraged not to lend a hand, and millions more are being seduced to work less and even still, millions more are totally demoralized.

    The nanny state isn't just about rules that govern every aspect of our lives; it is about paying our bills, removing our wants, and making us happy. To pull this off, we must forget achievement and settle for sameness, along with a quality of life that isn't superior or grand. The duel methods for making this happen continue to be redistribution:

    Redistribution of Accountability & Redistribution of Wealth

    The insane notion that people are victims because they eat themselves into a diabetic coma is nonsense. To stand in this line as a victim means you not only lack total self-restraint, but are devoid of any self-esteem. As an overweight person, I've delighted in the things I've put into my body, understanding that at some point I have to change or pay a heavy (no pun intended) price. But I would never blame someone else. That would be saying that in addition to it all, I'm just plain stupid.

    It's one thing to have limited will power in the presence of a fresh apple pie, but it is another to say you didn't know it had a lot of calories. Like all parts of the Faustian deal, that's the hallmark of a Welfare Society; it's not enough to take a lot of free stuff and live with lower self-esteem, but one must sell their soul and tell the world they're dumb, lazy, and unreliable. There was a time when Americans took pride in fighting Goliath with their wit and determination; there was a time when we loved the journey as we sought each day to improve our lives.

    There was even a time when we'd eaten a cheeseburger, felt guilty and then hit our exercise bike later in the evening to try and fix it.

    Now, professional ambulance chasers, along with government ideologues are saying, sit back and let's make things right. The fact is they will be the ones, who will get even more bloated with settlement funds, and an even larger waist-band. Big government is becoming even bigger, while you will still be free to eat your junk food anyway.

    That will never be right...

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Comments (2)
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  • retpdguy
    , contributor
    Comments (188) | Send Message
     
    Charles you are fearless and spot on. Let us know when you receive word of an audit.
    14 Feb 2014, 10:29 AM Reply Like
  • mudnducs
    , contributor
    Comment (1) | Send Message
     
    ...clarity of thought will get you knowhere in an upside down world. Great article Mr Payne.
    14 Feb 2014, 05:11 PM Reply Like
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