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Question of the Week

The Freedom Tower will eventually be the third tallest in world. Should America have the tallest buildings and longest bridges anymore or is it not a big deal?
Post your answer below.

Morning Commentary

Mayday!!! Mayday!!!…Send in the Clowns

By Charles Payne, CEO & Principal Analyst
5/1/2012 8:05 AM

Don't you love farce?
My fault, I fear
I thought that you'd want what I want
Sorry, my dear.
Send in the clowns
Don't bother they're here
Steven Sondheim


I must admit, my favorite version of Steven Sondheim's "Send in the Clowns" is from Frank Sinatra, also known as Chairman of the Board. So I thought the song and his rendition would be perfect for this morning as many Americans are going out today to protest the notion of a chairman of the board, at least in the context of a capitalistic system with corporations in business to enrich themselves and their shareholders. This morning, unions with the blessing of the White House will send in the clowns of Occupy Wall Street. The group, which is being re-energized by leftists, will hold a "general strike" which is weird since they don't work in the first place.

Go figure?

A few years ago Mexican groups held a strike to protest immigration reform and that made more sense but was also weird to pick a Socialist holiday to demand to cut to the front of the line in a capitalistic society. At least they were arguing to work more. The Occupy movement (if I can call it such) may have begun with demands for jobs but is purely an organization to promote the notion of shared sacrifice, shared wealth and shared mediocrity. Yesterday President Obama was at it again, this time telling union workers this nation can only make it as a collective because we work better together than individually. He promoted massive infrastructure spending, ignoring the fact he got his massive shovel-ready spending plan passed a while ago.

What a Farce

Don't you love farce?
My fault, I fear
I thought that you'd want what I want
Sorry, my dear.

The whole thing is a farce. I would love to do a documentary about 48th street in Manhattan. I have been driving down that road for years and it never gets better. There has been a never-ending construction effort that only makes traffic tougher and the roads worse. Huge metal plates that protrude from the road and ripped the tires on my brand new car last year are only part of the menacing mess. Giant holes left empty for weeks, potholes, barricades and rock-like tar balls that dribble between the undercarriage of your car and the road make it a very unpleasant journey.



Of course I want roads fixed, but there seems to be some kind of scam going on, at least in New York where the same roads are fixed each year. I'm sure a better job could be done. In the private sector, there is no way a product could break every year and find a buyer over and over again. I even wish we had the world's tallest building and longest bridges and tunnels.

Right now we are just doing a bunch of patchwork on bridges and tunnels that in some cases don't even need the work. In my town, it's taken over a year to patch up a rarely used bridge that is the length of two first downs in a football game. This is not economic progress, temp jobs yes, but not a solution.

If there are crumbling bridges and tunnels, then let's fix them, but taking a page from Spain's playbook of mindless spending to create a temporary job is stupid. The key is to unlock demand. The administration must find a way to tap into this nation's potential but that creates a conflict since the administration doesn't want capitalism to work to its full potential.

Their plan is almost child-like. Just go out and repave some roads, duplicate bridges, build airports and then "wham" our economy is firing on all cylinders. I suspect we would feel better about paying higher taxes if we had shinny new bridges that led to real life jobs. The interstate commerce project of Eisenhower was great because it connected the country.

It was more expensive than advertised, but worth it. We aren't disconnected. Yes, my 48th street commute is a nightmare on tires and my nerves and wallet. Let's fix roads that need fixing, but it's not going to fix our economy. Embracing capitalism would do the trick.

In 1885 the Home Insurance Building was completed in Chicago, the first to use steel in its structure and considered the world's first skyscraper. It ushered in a period of amazing growth and prosperity in America.

OWS and the Birds

I interviewed a 29 year old OWS guy on Payne Nation last night and just came away with the idea these guys are lost in a world that is detached from real life. You know, the other day my son and I were stopped in the car and watched a bird focused with a clump of earth in its mouth, more than likely a worm stuck in the middle. The bird appeared to be contemplating something then flew into a bush for a moment then came back out without the clump of earth. It's clear the bird enhanced its nest and probably fed baby birds. Maybe it's not fair to the worm, but it is life. We need children prepared to leave the nest rather than those willing to stay put and waiting to be fed.

This is the reality of nature, the law of numbers and the psychology of mankind. Take away accountability and people become less accountable. Take away the ability to become wealthy and people don't become wealthy. Punish success and people will not be successful. Make $250,000, the threshold for households to be punished, and households will earn less money, meaning less work and less output. Saturday morning was tranquil and beautiful on the surface, but there was life and death and survival all around us. We can't put it in park and think we're going to rule the world- not anymore, not ever again.

Perhaps some people don't think it's a big deal, but in the human world you can go from being, to the bird, to the worm in a couple of generations. It's magnanimous to say we should help people, but the "public good" is competition that leads to innovation that leads to true wealth that does permeate the economy, creating jobs and enthusiasm.
Comments
I'd rather have the lowest corporate tax rate.The lowest unemployment rate and a AAA credit rating. Superman in the only one that needs tall buildings.

Bill Bloodworth on 5/1/2012 10:24:14 AM
It matters to me as an American....we should have the biggest and best of everything because, despite what the idiot in the Whitehouse says, we ARE exceptional!!!

Mary on 5/1/2012 10:36:10 AM
love your comments! you hit the nail on the head!

geneguerrera on 5/1/2012 11:21:17 AM
I was a student pilot flying out of Teterboro in 1965, and even then I thought building the twin towers was a crazy idea. A B-25 Bomber had hit the Empire State Bldg just 20 years before, and the Towers were just 2 miles off the final approach course to Laguardia's Runway 6. We had also had several crashes over Staten Island and Brooklyn. Building something even higher now is insane. It's an inviting target for the next set of terrorists and a monument to the egoes of those behind it. No building in NYC should exceed 50 stories.

Dennis Howard on 5/1/2012 11:39:07 AM
Quality might be a finer aspiration. Elements such as harmony with surroundings, greenness, functionality, engineering skill and innovative techniques could bring greater stature than mere size to a structure which brilliantly solves problems typical in current construction endeavors.

Patricia Flynn on 5/1/2012 2:54:26 PM
Tallest building or longest bridge or deepest mine all share one thing in common. They represent the edge of technology. In this respect, we want America to be the leader. It is not that we want to own the tallest building; it is that we want to be the ones who designed and/or built it, the ones who developed the technologies required to succeed in breaking what used to be a barrier. Which country's corporations were contracted to design the last 5 buildings which held the title of tallest in the world?
Also, the tallest building means something else is in play, because even short skyscrapers are financially ineffficient. They just cost far too much to build due to the strength needed in the foundation. In Dubai and Mecca, it means excess wealth combined with unbridled arrogance (same as when the Sears Building was built). In China, it is probably more an issue of available land versus population. The land is needed for housing, businuess, and food; so they may need to spend more for housing and business to preserve the ability to feed their people.
I also think about this in relation to the Space Race inaugurated by JFK. Many think that cost too much, but I think those who feel that way are missing the reality. JFK seemed to know that Americans are competitive by nature and the American Spirit needs to be nurtured by competition. He helped create a phenomenal generation, one which was able to compete with the WW2 generation and the Revolutionary patriots for title of our best. The space race created strength in Americans and innumerable technological advances. It paid off far better than Seward's Folly, which others saw as a very bad deal, but which later proved brilliant.
Today, we have an uninspired theorist in the White House who is the opposite of JFK. He only inspires lethargy and greed. And he may well get historical credit for inspiring the worst or the last generation of Americans, especially if given another 4 very painful years.

Bob G on 5/1/2012 3:50:40 PM
Forget the clowns, let them stay home,this is one May Day celebration that is fizzling .
Obama in Afghanistan, brilliant election
move, he grabbed world attention by one simple move.....Give him credit where credit is due.

Tom Wayne on 5/1/2012 5:02:23 PM
It is a BIG DEAL. It takes pride and dedication to build the best of the best.....we are the best and we should never hold back by showing that in our buildings and infrastructures.

Bob Strong on 5/1/2012 5:16:45 PM
We may as well paint a big bullseye target on it. I mean if it has no practical purpose to be so grandiose and we are making things big and fantastical for our own hubris then we will eventually get whacked again. Lets us that energy and money reaching out to those that mean us harm and see if we can talk them off the ledge...hmmm?

Jetti on 5/2/2012 12:45:14 AM
Its simple and not 'Politically Correct"; simply let those in power in the Middle East know that ANY terrorist acts on American soil or Americans will be counteracted with large drones carrying 'Fat Boy Bombs' that will take out their huge buildings in one single strike then give them about 45 minutes notice to clear the buildings.

Next form USPEC 'United States Petroleum Energy Consumers'which will tell them what we will pay for oil and if production decreases our Navy will close down the transportation routes until it goes back up. We've all got bathtub toys that could sink the Iranian Navy.

Opec is just global price fixing and we need to end it.

Latch on 5/7/2012 1:39:05 PM
 

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