Bulls & Bears

Government inefficiency the same as in private business?

President Obama sounds off

 

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PRESIDENT ON GOV'T WASTE: SAME THING HAPPENING AT ANY AMERICAN COMPANY

JOHN LAYFIELD: One of the reasons the president doesn't see the difference is because he's never been in private enterprise and nor have any of his advisors. Corporations have accounting that is transparent; if not, they hear from their shareholders. They have to report every single quarter; government does not. If you steal in private enterprise, you get prosecuted. If you do it in government, you simply label it pork and nobody says anything about it. That tells you the difference between private enterprise, our best in the world, and politics, which is our worst.

CHUCK ROCHA: I appreciate the president's honesty; he was taking a step in the right direction when saying things are being wasted. The government has taken our taxpayers money and done good things with it as well. I was glad to hear him say the government is run by people and people are not always perfect; not everything is going to be the right thing.

GARY B SMITH: You're forced to give the government money through taxation and what happens with this inefficiency? They come back and ask for more money. These inefficient agencies just keep getting bigger. What happens if a private company has that much inefficiency? They go out of business because they cannot compete. The president's comment shows just how out of touch he is with what business actually does.

JONAS MAX FERRIS: It's a faulty comparison on a lot of levels. Jeff Bezos is not going to come and run the VA hospital so we're never going to have it run as well as Apple or Amazon. But why doesn't our government run as well as other government with the things that only governments do? I see tunnels being built in Switzerland very quickly and under budget. And here, they mess around on the Henry Hudson Parkway Bridge for what seems like two decades. So I don't think our government is comparing well to other top governments and that's the concern and that's where the attention should be.

TRACY BYRNES: It's the land of mediocrity. The system is flawed on so many levels and it perpetuates among itself. If we had term limits maybe a guy like Jeff Bezos would consider giving four years. Charlie Rangel has been in office since the day I was born; there's something intrinsically wrong with that. I actually thought it was quite arrogant of the president to say everybody wastes money because everybody doesn't waste money.

SUPREME COURT SMACKS DOWN PRESIDENT'S RECESS APPOINTMENTS TO LABOR BOARD

GARY B SMITH: The NLRB is unequivocally anti-business. They reversed the decision that gave employees the right to secrecy of ballot. They made it much easier for employees to organize. In my opinion, unionization has caused a whole sale destruction of jobs in this country ever since they were formed, whether it's the garment or auto industry. If the NLRB has to revisit these decisions, it's going to be good for business.

CHUCK ROCHA: Workers deserve to have some kind of voice as well. As far as this NLRB thing, it changes nothing. All those decisions that were made will be reviewed by a five-panel of NLRB, three of which are Democrats that were from the Senate and from Congress. So it's really not going to change much.

TRACY BYRNES: The point is that the president stepped over his bounds. He decided he was going to do something when nobody was around and that hurts everyone when the president can do whatever he wants.

JONAS MAX FERRIS: It's not going to change enough to radically change these decisions. Let's say the whole NLRB was completely disbanded. Would that improve the job market? There's some cases where that would probably lower unemployment. But just remember that employees can't do whatever they want like go on strike and shut down things like they used to. They cause a lot of problems for employers as well so I think there's some functions this group does that is helpful to the labor market and the economy.

JOHN LAYFIELD: I don't think it means a whole lot. The problem here is jobs. We need union jobs, right-to-work jobs, etc. The president got slapped on the hand here but I understand why he did it. You have two members of Congress who hate each other; nothing's going to get done. But the president is not a monarch and that's what the Supreme Court just said.

FAA GROUNDING COMMERCIAL DELIVERY DRONES

JONAS MAX FERRIS: These drones serve no purpose to mankind. The government should have the drones, not the corporations or the individuals. The corporations are going to spy on us and make a lot of noise; the people are going to spy on us. I only want the government spying on us.

CHUCK ROCHA: I am pro-drone if they want to take a picture of me feeding my hogs to find out what kind of feed I use so they could start sending me Google ads for that kind of feed. The point is we have to change our laws to modernize like we do with everything we've ever done.

JOHN LAYFIELD: 15 percent of Americans believe aliens lived among us; there are a lot of idiots out there. If I can't get a six-pack of beer delivered during the Super Bowl because my neighbor thinks a drone is following her or him, there's problems.

TRACY BYRNES: This is the modern day version of the dirty old man with a telescope. I'm with John, bring on the liquor.

GARY B SMITH: Here's the thing, we have laws against that. If you see a drone outside your bedroom flying away, you pick up the phone and call the police.

PREDICTIONS

GARY B SMITH: 4th of July kicks off summer vacay! (MAR) heats up 15 percent by Labor Day!

JONAS MAX FERRIS: Protect yourself from a dock strike! (VHF) delivers a 15 percent gain in 1 year

JOHN LAYFIELD: Paying workers to quit is great! (AMZN) clicks up 15 percent in 1 year