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Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Tobin Smith, ChangeWave Research editor; Scott Bleier, HybridInvestors.com president; Joe Battipaglia, Ryan Beck & Co chief investment officer, and Adam Lashinsky, Fortune Magazine senior writer.
Democrat White House hopefuls headlining the "Take Back America" conference, but just what will they "take back"? Is "take back" really code for higher taxes?
GARY B.: This is the Democratic Party's platform: We're a bunch of really smart guys, much smarter than you! Give us your money and we'll put together these big smart guy programs." These programs have no chance of succeeding, but Dems will say these programs will succeed. This may all be very silly but it's going to be their platform. And it's all going to be praised as the whole class warfare.
ADAM: I didn't hear any code language for raising taxes. The taking back America that I heard was educating our workers so that our companies don't need to go outside of the country to get workers. Making sure that our workers have health care. Doing the right thing in foreign countries and raising the stature of the United States.
JOE: They've got it wrong. This was the "Take Out America" conference! Dems will raise taxes on everyone who creates jobs and is affluent. They will socialize medicine. We'll take on our major trading partners, insult them, and drive them away from doing business. All this for what? Knock down an unemployment rate that's already at record lows? Democrats are playing very dangerous with domestic policy.
TOBY: The definition of bureaucracy is when you take energy and turn it into solid waste. These guys are talking about taking some good ideas and screwing them up by trying to legislate good ideas. Good ideas come from the capital markets, from entrepreneurs, from Americans who come up with great ideas and implement them. This is what these Democrats have mixed up.
PAT: Republicans have already done a very good job already driving our trading partners away. Think back to the Dubai ports deal. A solid company was not allowed to buy some port infrastructure here. That was killed under a Republican administration and it has resulted a significant decrease in foreign investment in the United States. Both parties can do dumb things.
SCOTT: Who are the Democrats taking America back from? Guys who work hard for living? Middle class families that work all day long to support their families, to buy health insurance, to pay for their car, and mortgage? This pandering is purely an aim to get votes from the middle class.
Will "Magic" Fat Pill Make America Lazy?
Even GlaxoSmithKline admits its new diet drug alli isn't a magic bullet. But consumers sure hope it is! The pills flying off the shelves. So if people think a pill can replace diet and exercise, will Americans become lazy?
JOE: You have to read the fine print! If you don't exercise and eat right, this is not going to work. Americans will lose sight of that, and just like light cigarettes, they may become more obese because they think they are off the hook.
TOBIN: Americans are already lazy! They are trying to take a pill to become un-lazy? I don't think so!
PAT: The bottom line is this country is pretty obese. And it's going to go on being obese until exercise habits or diet habits change.
GARY B.: We are handing America a remote control and saying and you know what, you can use the remote control or you can get up and still change the channel. How many people are still getting up to change the channel? Of course people are going to do this, and of course people will get lazier!
SCOTT: I think this pill will be a disaster! I think nobody buys it after the first six months.
ADAM: I disagree with Scott, because people will keep buying it. It will be a hope against hope to help people lose weight. And yet, this is an example of how we've become a lazy country.