Democrat Candidates Learn What Happens When you Blindly Follow a Socialist Off a Cliff…
Signs of the Historic Tea Party Landslide on Nov 2nd
I’m not just a former Vice Presidential nominee, I’m also a Las Vegas oddsmaker, who analyzes political elections just as I analyze sporting events. On CNBC in the Fall of 2004, I predicted the exact final margin of Bush’s Presidential victory beating almost every political pollster in the country. In the Fall of 2006 on FOX News, I predicted the GOP would lose control of Congress, when other experts, pollsters and pundits had serious doubts. And of course I had it right on the money in 2008 when at campaign events I said, “Voting for McCain is voting for four more years of Bush. A terrible thing. But voting for Obama is voting for four years of Karl Marx. He will destroy the U.S. economy, redistribute income, and devastate capitalism.” A very accurate prediction of what has happened under the Obama agenda.
My crystal ball has been working overtime this Fall:
* My prediction is a Tea Party revolution of epic proportions.
* I predict the GOP will take control of the House in a historic landslide of 50 to 60 seats.
* Unlike most pollsters, I believe the Senate is within GOP reach.
* The anger and disgust with the Obama agenda is so strong that I believe this landslide will take Harry Reid, the U.S. Senate Majority Leader with it. I predict Sharron Angle will become the next U.S. Senator of Nevada. That upset could hand the U.S. Senate to the GOP.
* My prediction is a GOP pickup of 8 to 10 Senate seats (10 being the number necessary for a GOP takeover). Tea Party Senate candidates will lead the way- Angle in Nevada, Rand Paul in Kentucky, Marco Rubio in Florida, Ken Buck in Colorado, Joe Miller in Alaska.
* Make no mistake about it. While the immediate beneficiary will be the GOP, this is not a GOP victory. It is a conservative/libertarian tsunami fueled by Tea Party activists. There is no love for Republicans. If the GOP legislators go to D.C. and carry on “business as usual”, such as voting for earmarks, they will be earmarked for defeat in 2012 just like Democrats this year.
* Obama will go down in the record books for the biggest and quickest turnaround in political history- from the MESSIAH who resurrected the Democratic Party…to the socialist PARIAH that destroyed the Democratic party in less than 2 years!
* The results on Nov 2nd will be historic and will leave the Obama agenda in ruins, exposing Obama as a one-term mistake.
* The Tea Party movement is here to stay. It will have an even bigger impact in 2012.
* My final prediction is that Obama will be challenged by members of his own party in a Democratic Presidential primary in 2012. I think there is a good chance that Obama may never again run in a general election for President of the United States.
Do you think I’m being too optimistic about the Tea Party landslide? Perhaps you haven’t read the “Tea Leaves.” Here are my five signs of how clean the sweep will be:
1. The Democratic candidate for Governor of Rhode Island (the bluest of blue states) just told Obama to “shove your endorsement.” Guess what? It isn’t Tea Partiers that are the angry ones. It is Democrat candidates who now realize that Obama has killed their careers. Anger and desperation have set in. They now realize that they’ve foolishly followed a socialist…off a cliff.
2. A Mississippi Democratic Congressman just announced yesterday that he voted for McCain for President. Now this announcement tops them all! Obama is such a millstone around the necks of Democratic Congressman that the only way to save their jobs is to announce they didn’t vote for their own party’s sitting President. It’s all over for this Democratic Congress.
3. It is now reported that Harry Reid is offering Starbucks gift cards to teachers union members in order to get them to vote. Usually the Democrat Party scam only involves cash for drunks and homeless people on the Vegas Strip. Things are so desperate for Democrats now that the U.S. Senate Majority Leader has to bribe teachers for votes. Goodbye Harry.
4. Obama is so desperate about the reality of the repudiation of his entire agenda, that he is showing his anger with offensive, racist language. Did you hear what our President said just this weekend to a crowd of supporters? He said “We don’t mind the Republicans joining us. They can come for the ride, but they gotta sit in back.” Can you imagine the media uproar if a white Tea Party politician had told Democrats they have to “sit in the back”? On Univision yesterday, Obama even called American voters who oppose illegal immigration “enemies” of Hispanics. The President sounds awful angry to me- like a man who knows his political career is in ruins.
5. And finally the biggest sign of all of the impending doom for Democrats: HILLARY IS LEAVING THE COUNTRY. That’s right- our Secretary of State just happens to be jetting off to the South Pacific for two weeks starting today. She’ll just happen to be in New Zealand while Democrats are losing the biggest landslide in modern history.
“From messiah to pariah” in less than two years. On November 2nd the American people will reject socialism once and for all.
And we’ll all learn the most important lesson of all:
When your neighbor loses his job, that’s a recession…
When you lose yours, that’s a depression…
When Obama, Pelosi and Reid lose theirs, that’s a RECOVERY.
Wayne Allyn Root, is the author of the new paperback, "The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold, and Tax Cuts.” He is a Las Vegas oddsmaker turned Vice Presidential nominee. Root is available to the media to provide pre and post election analysis, discussion and debate. His website is: ROOTforAmerica.com.
Monthly Archives: October 2010
Posted by Wayne Root on October 18, 2010 Comments Off on Economic Catastrophe Unfolds: Why Every Bank in America is Bankrupt
U.S. Economy Faces Financial Armageddon and Great Depression II.
We are now facing the worst economic disaster in history- worse even than the Great Depression. I’ve warned for two years now that the real estate picture is far worse than most Americans understand. The foreclosure disaster we’ve seen is only the tip of the iceberg. At the moment 30% of all mortgages across the country are underwater. The so-called “shadow inventory” (homes in foreclosure or far behind on payments) is already 11 million homes and growing. Millions of additional homes will soon fall into foreclosure.
Yet the bigger disaster is the commercial real estate market. Banks have been hiding this tragedy by extending loans on properties that are no longer worth ten cents on the dollar. Many commercial properties have lost most or all of their tenants, and haven’t made mortgage payments in months, if not years. Yet by extending the loans, banks have hidden the disaster unfolding on their books. Make no mistake- commercial real estate loans- shopping centers, malls, strip malls, office buildings- will face foreclosure in unimaginable numbers over the next 5 years. Each new wave will cripple the U.S. economy.
But you haven’t heard the worst of it yet. None of this is what will actually plunge America and the world into the Great Depression II. The real disaster unfolded late last week as it became clear that the banks don’t even hold title to the notes of the homes in their portfolio. That means they have no legal right to foreclose. Does anyone understand the implications of this new revelation? First banks will have to halt foreclosures across the country (as many already have- like B of A), thereby further damaging the housing market.
Second, HERE COME THE CLASS ACTION LAWYERS. The biggest banks in America- already facing ruin because of the trillions in bad debt they hold- will now have to spend billions more on legal fees to fight lawsuits by state attorneys general, class action legal vultures representing homeowners facing foreclosure, and worst of all- past mortgage holders who were foreclosed.
If banks can’t prove title, many homeowners from coast to coast will keep living in their homes without paying a dime. Banks will lose billions. Some homeowners might live forever more without mortgage payments. Others may be awarded million dollar awards for “the stress and mental anguish they’ve endured.”
Now think of the millions of homes that have already been foreclosed. Suddenly all of these ex-homeowners will sue the banks, asking them to prove they held the proper legal title when they foreclosed. Courts could award them damages in the millions each, plus their old houses back. But wait it gets worse. How about the current homeowners living in those foreclosed houses they bought from the banks. Who is the rightful owner? Will they have to return the homes? Real estate values will drop further than anyone ever imagined when the magnitude of this situation becomes clear. Real estate prices could drop another 20% to 30% from today’s lows. The real estate market could take decades- not years- to recover.
The result of this unimaginable mess? The entire U.S. banking system is bankrupt…insolvent. Your bank is broke. Everyone’s bank. And as real estate goes down another 20% to 30%, their portfolios grow even more worthless (is there a term for “Bankruptcy squared”?). They are facing ruin. Their books are cooked- whatever real estate is on them is worthless. But heck, who cares? They can’t prove they own it anyway. And to make matters worse, all the money in all the banks in America isn’t enough to pay the legal fees and damage awards the banks now face. It’s all one big vicious cycle that feeds upon itself.
And as things get worse, and property values sink further, fewer and fewer homeowners will continue to make their mortgage payment. Why should I continue to pay, if my neighbors and friends are no longer paying? Soon the entire system will unravel. The rule of law is broken.
And guess who is on the hook for the entire mess? American taxpayers. We’re on the hook for Fannie Mae and Freddie Mac. And of course, we are on the hook for all the banks too. All their deposits are insured by U.S. taxpayers. Can you spell B-A-I-L-O-U-T?
Are you getting that sinking feeling? Over the coming months the entire banking system will be brought to its knees. Only the U.S. government is big enough to bail them out. But the federal government is broke too. We owe over $13 trillion in national debt, and over $100 trillion in debt plus unfunded liabilities. States, counties and cities are broke and looking at the federal government to save them. This is what you call a never-ending cycle of economic disaster and despair.
This tragedy of epic proportions is caused by government- not private industry. Government has over-seen it all, and mismanaged it all. Government inflated the bubble with low interest rates, Federal Reserve printing presses, and mandates for banks to loan to people with no credit, no way to prove income, and no way to ever repay the loans- in many cases based on affirmative action and the color of their skin (Community Investment Act). And the banks and financial institutions made the loans without a care in the world, because Uncle Sam was guaranteeing it all.
Government caused this entire catastrophe. Remember that on November 2nd when you walk into that voting booth. Message to the N.Y. Times- this just might be why the Tea Party voters are angry and frightened to death for the future of America and future generations of their children and grandchildren. The result will be one of the greatest landslides in U.S. political history. My advice: V.E.T.O. - VOTE EVERYONE of THEM OUT!
Posted by Wayne Root on October 15, 2010 Comments Off on Harry Reid- Radical, Extreme and Dangerous for Nevada
Nevada is “Canary in the Coal Mine” for Tea Party Landslide on November 2nd
By Wayne Allyn Root, Chairman of the Libertarian National Congressional Committee and Best-Selling Author of "The Conscience of a Libertarian."
The final nail was driven into the coffin of the Obama agenda on Thursday night by a Reno, Nevada grandmother. Look to Nevada on the evening of November 2nd to see the power of the historic Tea Party tsunami. After spending over $20 Million defining Sharron Angle as radical, extreme and dangerous, if Senate Majority Leader Harry Reid loses to this Tea Party grandmother, then you can bet it’s all over for the Obama agenda. The big government, pro union, anti/business socialists (aka Democrats) will be going down to landslide defeats all across the country. And here’s my advice: YOU CAN BET ON IT.
You gotta love a state where the constitution bans taxes and welcomes guns in the hands of law abiding citizens. But starting on November 2nd, Nevada will be known as the state that fueled the Tea Party citizen revolution.
It all started earlier this week when Sharron Angle announced she’d raised a staggering $14.3 million in the 3rd quarter- the second biggest haul in the history of American politics. I’d have given a million dollars to see the faces of Reid and his campaign managers when they heard the news. I’ll bet “shock, awe, and violent waves of nausea” best described their reactions.
Then came the big Thursday night debate. Reid had painted Angle as ignorant, radical, extreme and dangerous. Yet the grandmother from Reno came across as credible, sincere, honest, and filled with common sense. She stood toe-to-toe with the United States Senate Majority Leader and never flinched. The line of the night came from Angle when she stared down her opponent and said, “Man up Harry Reid.” I’ll bet Harry’s handlers got a little weak in the groin area after that line.
Harry Reid, the man who has carried the water for the Obama socialist agenda of tax, spend, and bankrupt America, is the one who came across as radical, extreme and dangerous. Sharron Angle showcased common sense in proving that wanting to lower taxes and allow people to keep more of their own money isn’t extreme. Wanting to raise taxes in a depression on job creators and small business owners- now THAT’S extreme.
Angle proved that wanted to reform and personalize (partially privatize) a failing Social Security system is not extreme. Wanting to keep the status quo for a system that threatens to implode and bankrupt the entire economy- now THAT’S extreme.
Angle proved that wanting to reform education and eliminate the bloated Department of Education to bring the money back to Nevada, where local parents can decide what’s best for Nevada’s children, is not extreme. Wanting to keep the status quo for a disastrous public education system that is miserably failing our children- now THAT’S extreme.
Angle proved that wanting to cut spending to reduce the deficit and debt isn’t radical. Wanting big government to keep printing and spending money we don’t have- now THAT’S extreme.
Most extreme of all would be re-electing the man who dug a $100 trillion dollar hole of deficit, debt, earmarks, bailouts, stimulus-to-nowhere, and unfunded liabilities that threatens to destroy the American Dream for our children and grandchildren. It was on Harry Reid’s watch that America went bankrupt. Could anything be more radical, dangerous, or irresponsible than sending him back to the Senate?
Earlier in the day my good friend, Eric Singer, of the Congressional Effect Fund explained on The FOX Business Network that throughout history the best investment strategy is to buy stocks when Congress is out of town. You heard correctly. For the past half century, when Congress is in session, the stock market is up about 1%. When Congress is out of session or on vacation, the stock market is up over 17%. Since ‘2000 the market is actually down 8% when Congress is in session (much of that time presided over by Harry Reid), and up 9% when Congress is out of town. Moral to the story? Elitist-lawyers-turned-politicians like Reid aren’t saving us when they create new laws. They are damaging the U.S. economy and the American people.
Eric Singer didn’t know it, but he was proving why Harry Reid should be retired. During his debate, Harry proudly stated again and again how important he has been to Nevada and the country. How many rules and regulations he’s passed to "save" us all. How many jobs he’s “created” by spending our money. How government helps us all in so many ways.
Singer’s facts prove that we need to stop Harry from helping us. With friends like him, it’s no wonder our children and grandchildren owe over $100 trillion dollars. Please stop helping us Harry. We can’t take anymore of your help. The more you help, the worse it gets. History proves that Harry Reid and his friends in Congress are actually the cause of our misery.
The common sense of a Tea Party grandmother is just what the doctor ordered. We need a Tea Party “citizen politician” who says “no” to more spending, “no” to bailouts, “no” to bigger government, ”no” to higher taxes, and “no” to digging the hole deeper. We certainly need fewer rules, regulations and laws created by the lawyers, for the lawyers, to screw the people.
And then there was the final zinger of the night from Angle: “Senator Reid, how did a poor boy from Searchlight Nevada become a multi-millionaire on the government payroll?” You could feel the air going out of Reid as he stumbled and stammered. A simple grandmother had ripped the privilege, power, and intimidation factor from the U.S. Senator who lives like political royalty at the Ritz Carlton. Suddenly the emperor had no clothes. How indeed Harry?
On November 2nd Nevada will show America how to throw a citizen revolution. Nevada will show America who the real radicals, extremists and dangerous thieves are- the elitists, lawyers, and career D.C. politicians. Nevadans will fire a shot heard around the world with a message to the United States Senate Majority Leader- “HARRY REID, YOU’RE FIRED!”
Posted by Wayne Root on October 5, 2010 Comments Off on A Small Business Owner Responds to Paul Krugman, Nobel Ignoramus.
Paul Krugman, the Nobel Ignoramus, recently wrote a column for the New York Times entitled, "The Angry Rich." According to Krugman wealthy people are angry because money to which they feel “entitled” is being taken away. Krugman is outing himself as a socialist by admitting publicly that he considers the idea of wanting to keep more of your own money an “entitlement.” Radical leftists lie and distort to incite class envy. They call it “greedy” to want to keep money that you earned, but it’s not greedy to demand that government steal it from you and redistribute it to those who never earned it. That’s an interesting interpretation of “greed.”
Krugman forgets to tell his readers that this "angry minority" pays the "disproportionate majority" of the taxes. The top 1% of earners pays almost 40% of all income taxes. The top 5% pays 70% of taxes. The top 25% pays almost 100% of taxes. Damn right the rich are angry. It’s always easy to vote for tax increases on someone else- especially when it gets redistributed to you.
Yes, we’re angry. We are tired of being scapegoats and punching bags. We are tired of politicians taking our hard-earned money and wasting it on bloated government spending; more government employees who receive guaranteed jobs and obscene pensions for life; unnecessary wars; vote-buying earmarks; corrupt bailouts to campaign contributors; and trillion dollar handouts described as stimulus.
Krugman reports that these are desperate times for people who have lost their jobs or homes. This is true. But who will create the jobs to help all these people? Assuming they still have the money- small business. Entrepreneurs who pursue the "American Dream” do so by creating businesses, creating jobs, and spending money on equipment and raw materials. They make their employees and the employees of the places they buy from, rich too. How many millionaires did Google, Cisco, Apple, and Microsoft mint? How much money did their employees spend? How many Americans were enriched by all this success?
Krugman says “real” rage and suffering isn’t found among the rich. In his socialist mind it’s only found among the poor. Well Mr. Krugman, my friends are mostly small business owners. They aren’t rich like your limo-driving, private jet-flying, Gucci-wearing, leftist, New York Times readers. My friends are “working rich.” And they are suffering in record numbers. They are losing their executive jobs, never to find another. They are struggling to make payrolls, so their employees can pay the mortgage- while they themselves forgo a paycheck. They are losing their small businesses, along with everything they’ve worked years to build. They are spending their retirement money on their own survival, or their children’s college education. They are desperate- you just don’t notice up there on the top floors of the New York Times.
This is precisely why there are no jobs- “the working rich” are in trouble, under siege and being squeezed by the economy and government. And as long as people like Mr. Krugman are in power, there will be no new jobs. The truth is socialists like Obama and Krugman wouldn’t know how to create a job, if it hit them in the face. The only way they know how to create jobs is by taking $40 million from taxpayers’ pockets to create twenty temporary jobs at a cost of $2 million each. Thank goodness we have Nobel Prize winners like Krugman and Obama to save us.
It’s small business owners earning $250,000 to $500,000, not the titans on Wall Street, who will be hit by Obama’s gigantic tax increases. Yet Obama and his leftist cronies chose to bailout Wall Street and give sweetheart deals to the big shot execs at AIG, Goldman Sachs, and GM. It’s no coincidence that Obama was the biggest beneficiary of their campaign contributions. During all this time, Obama did nothing for small business. Now Krugman and Obama demand higher taxes on “the rich” and use Wall Street titans as the scapegoat to hide who will really be paying the tab.
Krugman denigrates and taunts people who make $250,000 to $500,000. “They can afford higher taxes” is his leftist chant. But take another $50,000 in taxes from a family making $400,000 and you've just put two of their employees making $30,000 a year directly in the unemployment line. You'll spend about $400 a week in unemployment insurance for the next 99 weeks for each of those employees, for a net loss to the government of $30,000 or so. That kind of economic model only works in books written by Karl Marx, and taught by Nobel Ignoramus Prize winners.
Krugman calls the rich in America “the world’s luckiest people.” Are you joking? The majority of the rich you are referring to, toil at their small businesses 60+ hours a week, sacrificing family and quality of life. Unlike government employees, they have no short workdays, no 3-day weekends, no summers off, no guaranteed jobs for life, no bloated pensions.
These heroes of the business world that Krugman derisively calls “rich” and “greedy” took on hundreds of thousands of dollars in debt to fund their educations, then risked hundreds of thousands more to start their small businesses. Their reward for all this hard-work, sacrifice and risk-taking from socialists like Obama and Krugman? A greedy government that demands more and more in return for…nothing. Sorry Mr Krugman, I don’t need partners like that. Usually partners like that are called organized crime.
Mr. Krugman says the rich aren’t willing to sacrifice. Not true. The rich are willing to sacrifice, but they are not willing to be sacrificed, while the American Dream is forever destroyed.
Krugman says the rich are angry and out for revenge. Well that’s not hard to understand when a productive minority of risk-takers and job creators is being lynched by a dysfunctional group of socialists that believes keeping some of your own money is an "entitlement." Soon we intend to insure that Nobel Ignoramus socialists like Krugman and Obama and are never again allowed anywhere near the American economy.