Wall Street Strategies
Hello! Sign in or Register

Morning Commentary

Bang the Drums Loudly

By Charles Payne, CEO & Principal Analyst
5/4/2012 7:52 AM

Question of the Week

Where's the Tea party, where are the folks that pledge allegiance to the flag every day in quiet respect for the nation?

Post your answer below.
This is the way the world ends
Not with a bang but with a whimper
-T.S. Eliot, 1925

I'm not sure how the world will end, but more and more, it looks like the America I was born in could indeed end in a self-induced whimper. The last breath of greatness was forced out of our lifeless body after heading down a path that was always ridiculous but for some reason gathered the adulation of people too young to know better and too old to care anymore. Of course I'm looking ahead to a possible end of the road that would begin with gathering momentum with a second term for the current administration. Not only has the White House made its animosity for capitalism clear, but it's confident enough to stop cloaking their agenda in false economic rhetoric.

Whether that is our future remains to be seen, but one thing is for sure, the decline is coming with little fanfare and even less outrage. What the heck is going on? I thought there would be riots around the nation of people demanding jobs and opportunity but instead we had a busted protest demanding freebies for those that have put no skin in the game from those that have made the sacrifices needed to clear hurdles to success. We are fading and yet we aren't screaming. It's like a drowning man in the middle of the ocean who would rather contemplate a life lived than spend energy flailing in vain. But we are not in an ocean and we aren't even contemplating. Instead, we simply are sinking.

Today, we stand prepared to celebrate another month of mediocrity capped off with job creation that would be disappointing in normal circumstances but more so considering all the pent up demand and greatness ready to be unleashed. At this rate, we will go out with a whimper. The jobs number landed with a thud, and the stock market's initial reaction was Dow down 50 points only to immediately reverse and peak into positive territory. I'm not sure why but it could be revisions of +53,000 for February and March, or the 8.1% unemployment rate, or maybe it's simply more celebration of mediocrity that makes for a great component to an otherwise indifferent slide from greatness.

Main Street media focuses on the 8.1% jobless rate, with idiots on many television channels knowingly lying to the public about what that number really means. People continue to drop out of the American Dream in all facets. In just the past month "not in labor force" rocketed up 522,000 to 88,419,000 an absolute all-time record as the participation rate of 63.6 is the lowest since 1981.

We'll have more details in the afternoon report.

When a Nation Falls through Indifference, Does it make a Noise?

The market is grappling with this number and how to spin it positively from an economic point of view. Really, it can't be done. We need to bang the drums loudly that the nation can cure itself and not with gimmicks but good old fashioned hard work. Just let the system work and create more entrepreneurs than couch potatoes. More job creators than welfare recipients.
Let me offer a different perspective. I don't think we are so much dying with a whimper as we are changing the venue of the game.B
During my career, I was often falsely accused of being a pessimist. I would alaays have a perspective on the problems in how things were going and be ready to ofer an idea for how they could be better. The "powers that be" would call me a pessimist because I never expressed joy over the current situation. That was just not the way I was thinking. I believed that things could be better and wanted to be a part of making that happen. I was the true optimist, the one who believed in improvement. Later, I became a pessimist, having lost faith in the willingness of those in power to ever accept any improvement or even acknowledge that they had not achieved perfection. My behavior changed. At that point, I went docile and stopped offering any productive interaction.
I think that is where America is heading. as our government has become non-responsive, people check out of the public arena. Those same productive people still work hard, but instead of improving the system, they spend their energies quietly going around the system. For America, this means that the middle class will disappear. The very rich may get hit with very high taxes, and they will just compensate by paying themselves more to cover the taxes. Meanwhile the rest of us will have a smaller pie to share, and so the middle class will decline. Obama willl have failed to make everyone equally enslaved with poverty, but he will have greatly increased the percentage of Americans who are. Interestingly enough, it seems that the first place where people stopped participating is in paying the taxes that the unjust government levies.

Bob G on 5/4/2012 9:21:19 AM
Charles: Excellent! I am asking the same questions. From what I can see, people just don't care anymore. They are more interested in who's on Dancing With the Stars. When I talk with my freinds about politics, their eyes glaze over and think I am a nut. I'm afraid the America that you and I grew up in is fading. It is very sad, for we had a great country and was he beacon of hope for the world. Keep up the good work, some of us out here are listening. Thom

Thom Widawski on 5/4/2012 10:09:56 AM
Charles, your message this morning hit the nail on the head!!! So sad to see all the energy sucked out of the country and productivity coming to a halt. What are the chances of the U.S. ever coming out of it and raising once more at the great nation we were?

Rebecca Luna on 5/4/2012 10:10:36 AM
Charles, you are a God-send to those of us who believe in the Free Enterprise System. I agree heartily to all you have said. Keep up the wonderful work you are doing!

Fred Prassel on 5/4/2012 10:23:59 AM
Part of the problem is the Tea Party did not get the a candidate whom they consider conservative enough. Also the amount of people wanting a free ride seems to be mounting, hopefully they will rise again.

Marilyn Maness on 5/4/2012 10:25:16 AM
The North Korean system of "killing off" three generations of opponents has been accomplished
right here in the USA! RIGHT UNDER OUR NOSES! How many "REAL AMERICANS" exist
today? The 2012 Presidential election results may tell us!

Ernie Holden on 5/4/2012 10:34:41 AM
If you are as flabbergasted as you sound, do NOT review statistics about or visit Memphis. There should be a word that is "apathy squared." They will passively follow, but follow whom? Maybe they'll sit this election out since it hasn't worked out like they expected.

Norman Parker on 5/4/2012 10:36:40 AM
We are out there and we are resolute. We know
what we are going to do in November. It's
always quiet before the storm. It's not the
silence you need to worry about; it's whether
there is enough of us to affect the change.

Diane on 5/4/2012 10:55:45 AM
I can assure you the Tea Party is alive and well w/o a major rally in DC notwithstanding. Nov '12 elections will have a strong TP participation rate as it did in '10 but election fraud may still win the day unfortunately. Voter registration fraud is happening now and come Nov. it will be too late to do anything about it. Yeah the TP is alive but may prove powerless to stop the crooks from getting re-elected...again.

Gary Cardenas on 5/4/2012 10:58:12 AM
We are here working. Paying our taxes while our government is subverted from within, aided and abetted by a complicit media. We are fighting to reassert the Constitution while being buried under an assault funded by our own tax dollars. We look for hope in the November election and fight dispare every day.

todd brophy on 5/4/2012 11:07:32 AM
Charles, enthusiasm is contagious but so is the plague. We have a plague in this country that is killing off enthusiasm and that plague is big government. It is very difficult for businesses and individuals to be enthusiastic when they have the heavy boot of government on their throats. Every time the government steals a right from the people and converts that right into a privilege and charges a fee for what should be free, we the people lose. Not only do we lose the God-given right, we lose enthusiasm, conviction and will. We become subjugated. Through this subjugation we become subjects of the government rather than sovereign masters of it. Rather than binding our government by the chains of the constitution, the government has slowly but inexorably converted our rights and thus converted us from sovereigns to slaves. We now operate out of fear of the government; fear that if we do not comply the government will harm us, imprison us, seize our assets, close our businesses all in violation of the 4th, 5th, 9th, 10th and 14th amendments. When government assumes the powers reserved to the people, the people either must reject that government or become slave to it. I am afraid that there are way too many Citizens who have accepted and now prefer slavery as long as the master provides well.

George on 5/4/2012 11:23:19 AM
Charles, We can only hope the vote is deafening to remove this President and administration.

Larry Preston on 5/4/2012 11:39:54 AM
We, the Tea Party are out here and enraged. Working in our own communtities to affect the election of both our Senator and the President.

As one person said this week, "When will we start seeing John Galts?"

Stephanie on 5/4/2012 12:03:44 PM
Has anyone noticed how the financial news from CNBC seems to indicate that suddenly everything is coming up roses and daffodils !!!!
They must be getting the NBC propaganda machine ready for Nov.........

"Trust but verify"

Tom Wayne on 5/4/2012 12:05:49 PM
Mr. Payne, what a "downer" column you published this morning! It ain't that bad, and it ain't particularly the Tea Party decline is going to do much about any decline, if that be the country's choice, and decline is always a choice. Remember, the Tea Party folks are heavily laced with Medicare users (includes me), and we tend to be the biggest "welfare queens" in the pack (except me). Why would they howl about their biggest "gimme"?

The real protest about any decline seems to come from the group consisting of people like your readership, from what I see. Keep up the good work, but also keep pointing to the realities in the economy that can be improved, and let's ignore the market's fake love of a QE3. Please!

(how come "the color of green grass" all the time? Ask the color of Mars.)

George Stelzenmuller on 5/4/2012 12:11:36 PM
George said it very well at 11:23:19 AM. I would add too many people are willing to take the easy road and our system is turning socialist with a foul breath of George Orwell's big brother breathing down our necks. The main stream media has not picked up on this at all. I see political parties in the PIIGS nations that are openly advocating that the IMF and the ECB give them the money, saying that Europe needs their country to remain in the Euro zone so "give us the money." These parties are gaining strength and will probably win the parliamentary elections in Greece and the Presidential elections in France. The austerity is loosing ground, hard work is loosing ground, accountability is loosing ground, not just in Europe but sadly in the USA. We are being sold a bill of goods that says we do not need to work hard or even to work or to compete for jobs by being prepared. It goes with the school systems not failing students, with parents not demanding that their children do their school work. Too much artificial esteem building and the promotion of mediocrity. France is going the the smiley face grading system, from the points system, no child fails, they get a happy smiley face, a neutral smiley face or a frown, but do not fail. Every one feels good until the child graduates and cannot even read or does not posses any critical thinking skills.

Sad, I do not think we are even going to whimper.

David Huber on 5/4/2012 12:11:45 PM
The hard working family value Americans did our part in marching,screaming at Town Halls and voting and making a difference by changing the Democratic controlled House where legislation is created. The Tea Party House passed the Balance Budget Admendment that was thrown out in the Senate. That was significant legislation that could have made a change. What more can we do? I didn't see the Repulican Establishment getting behind any of the Tea Party Presidential Candidates. Do they really want anything any significant change? Results are what people want to see. If our Representatives can't do it, then we'll focus on where we can make a difference, our families and communities. Keep up the good work Charles.

Kearney on 5/4/2012 12:23:02 PM
I think they are seething in the background waiting for November.

Dick Kantenberger on 5/4/2012 12:24:40 PM
First, you have to ask why is it 1% and 99%? Why not 50% and 50% OR even 80% at the top and only 20% at the bottom. The Bible says we will always have the poor, but who thought the number would keep growing. Why aren't there more at the top? I've been up and I've been down, but I keep trying to make it to the top or somewhere near. The number of teenagers working goes down and someone says a lot of them just don't want to work or don't believe they can find a job. Isn't that the same thing. A huge proportion of society has not only decided to accept mediocrity but to accept something way below that. We went from "We have to get out of the ghetto." to "Get the F out of our hood." And that is true for all races. I think those still feeling they can make it and can have the dream have begun to be more and more selfish, deciding to make it for themselves and just build fences against all the rifraff rather than try to care about the poor. Help someone who needs it, has become help those who need my help and will grab the fishing pole and bait over the fish. Not many of those left. I think people say heck with politics etc. I am in it for me and my family.

Fran Touchette on 5/4/2012 12:25:39 PM
I'm hoping that the outrage will start to re-boil come the summer and peak in November. I don't think it's realistic to think that the anger at this administration's anti capitalism bent can be maintained at the peak level of 2010. It can and hopefully will be re-engergized. Heck, even here in RI we are seeing the democrats beginning to face up to the economic absurdity of their past actions.

Ed Nicholson on 5/4/2012 12:31:04 PM
We're here, trying to explain what's happening to those who don't understand what our government is doing to destroy our country. Trying to plan with our kids how to cope with the unbelievable debt, economy and corrupt government. And praying. And voting.

Roy Prideaux on 5/4/2012 1:00:40 PM
We are out here and ready for the real campaign action, but are getting very frustrated with the lack of movement on any real changes. So the House passes the bills and Harry stuffs them in his drawer. Is there any outrage except maybe on Fox news? Where are the Senators pounding their drums? Make it the main topic of their news or is that what the Republicans really want - status quo?

With all the "right wing" pundits and "left wing" ones too, why not make a challenge and use the media airwaves to come to the same table and present the facts, not the spin? State the agenda upfront of which issues are on the table and then stick with it. If successful have another with other issues. I am tired of listening and want action, but everyone, including you and others, make your money talking.


Jerry de Cesare on 5/4/2012 1:22:04 PM
We are speaking out where one can have an intelligent conversation instead of a screaming match with the "tolerent" liberals; only tolerant if you agree with them. Quietly getting the word out in our communities, and in my case via the Catholic community who recognizes that the contraceptive issue mandate is not that, but an outrageous attempt to attack religious freedom in this country. If they compromise what we believe, they attain one more goal to bring down the Republic as we know it. Charles, be not discouraged, the believers and fighters are still out there, and come November, we will prevail. (Hopefully the polls will be carefully monitored to prevent voter fraud. We must all be on the watch). You are a beacon..Thank you and don't stop.

Marie C on 5/4/2012 1:27:50 PM
Keynesian economics so far not catapulting us out of depression. Time is running out to try austerity. Maybe when 60% of all revenue and borrowing is needed to service the debt. Will we make it. The cliff is getting closer and closer.

Richard Bushmeyer on 5/4/2012 1:37:12 PM
I think Tea Party is alive and well. Keeping our powder dry until election season is closer....when our voices will be heard & count for something...not dismissed as kooks.

Norm Mest on 5/4/2012 2:06:29 PM
We are in this "shape" because the Tea Party people in Congress wish to turn the country into a one-party dictatorship -- their way or the highway. No compromise, no recognition that the other side is equally qualified to serve their consitituents.

Charles Jacobs on 5/4/2012 2:27:39 PM
This is NOT going to be a popular response, but please give it serious thought.
One of the last responders (Jerry) suggested that the talk should end and action is needed. I assume by the context that he meant political action. Which is another form of talk. Talk works when people listen. Debate works when people consider the arguments given. Unfortunately, we are past that point. The government is no longer our government - the sitting Congress is tied to their special interest at the sacrifice of looking at the facts and making choices which benefit the whole country and abide by the Constitution. And pardon the reality of it, but our votes DON"T count. 1:300,000,000 is insignificant. When those who were put into office to take care of the country won't do it, then the action which is effective is the same action which was taken in 1776, and which was again tried in 1861.
There are some points in history which ought to be observed. First, I have identified 1861 with 1776. Do you understand that our present problem came from a conflict which had come to climax in 1861? At that time, the federal government had decided to ignore the 10th amendment - the one that limits federal power and preserves individual, community, and state authority as the proper place for most governing power. By 1865, the fate of this country had been sealed, it was only a matter of time before special interests would take control of the federal government and Supreme Court and start us on the current road, where the president creates new powers on a whim (or should we say he usurps our freedoms).
The other fact to consider is in the form of a question. Which nation in the world has had its current government system standing the longest and is therefore prime for violent revolution as the people try to regain their freedoms? (If you need a clue, let me say that it is located between Mexico and Canada).

Bob G on 5/4/2012 3:10:30 PM
They've been hypnotized by the sheer weight of asinine political noise. Shifting phrases such as 'I oppose that' and 'we disagree with you' with 'that might help' or 'this might not solve our problem' could reflect a useful interest in solutions instead of this competition being played out by the willfully deaf. About this week's jobs numbers, if the centuries-old technique of drawing maps with convergent longitude lines oriented to the north and south poles and parallel latitude lines had made the longitude lines parallel and latitudes convergent at two equatorial cities 180 degrees longitude apart, the resulting mercator projection would make more sense than the method used to determine these jobs numbers. Arrgghh!

Patricia Flynn on 5/4/2012 3:13:25 PM
Your article is superbly on-point.

We are seeing overwhelming apathy among the ranks for the reasons stated by many and requires no further clarification.

The difference now in this country is simply that there is for the first time in my 55 years, vast corruption in government and across so many fronts that quite frankly, stock market reports, local and national elections, tea parties…..none of these matter.

Why you ask? Quite simply because the liberal establishment has over time, thoroughly corrupted these fundimental components of our society, and as-well they have total and complete control over every aspect of the US’s major institutions. Healthcare was the last to fall, illegal immigration isn't far behind. Think about it; healthcare, the courts, education, government, unions, media…..you name it, they’ve corrupted it, and they control it. Now with no voter ID requirement, they’ve all but closed the door on any potential for freedom loving American’s to have a chance. To have a vote that counts. The voter corruption will be immense this election - we can count on it.

I laugh every time I hear folks get upset about topics like; the price of fuel, poling, unemployment. I say that because all of this matters to be sure, but people should be focused on the most vital topic in this country; the enemy within. We shouldn’t worry about Iran, Russia, North Korea, etc. Heck, we have a far more powerful, far more dangerous opponent in the Whitehouse. That’s what everybody should be focused on, as within a few months if things don’t go well, we’ll be referring to each other “comrade” and marching towards the concentration camps. Forget about gas prices and the stock market swings; we’ve got far worse problems than that! Wake up Comrades……..or learn how to march in lock-step.

Home-Less from Irvine, CA on 5/4/2012 3:17:38 PM
Well said Home-Less. I would only say 'The election -fraud- will be immense this election. Oh there's some 'voter corruption' going on to like everytime the administration opens their mouth. Please Charles for the good of this Republic, check out True The Vote dot org.

Working in Houston on 5/4/2012 4:26:43 PM
Capital will not commit until and unless Obama is defeated. That is the the root cause of an economy that could be bombing and is instead faltering. This president is the greatest threat to everything the United States has always stood for. I grew up in Cuba and left in 1960 because of Fidel Castro. I have seen this movie before and, if Obama is reelected, all is lost. As a Cuban, I was able to come to this country and have an opportunity but, if America falls, there is no place to go. The stakes could not be higher making the November presidential election is the most important one in the history of the United States.

Jose A. Gross on 5/4/2012 6:07:05 PM
Voters have become lambs and the government is a wolf. I am visiting Chicago for NRA show. What has happened to such a great city? Even with crooked politics and powerful unions it prospered. I think federal gov got to powerful and overwhelmed all

Lawton Haygood on 5/4/2012 6:16:48 PM
I think there is a lot of resignation and frustration among those of us who still pledge allegiance to the flag, our values and way of life. We feel so outnumbered by those who cluelessly await the next government handout and don't really care about anything else that we have somewhat given up.

Marvin Foster on 5/5/2012 8:22:51 AM
We're working but are still committed to the cause. Our busy lives make it appear that we have lost interest, not so. The sleeping giant will be awakened by election time.

Chico Dave on 5/6/2012 7:44:53 PM
Lord, help us defeat Obama. I'm afraid the younger generation is so busy trying to make a living for their family, they don't understand what this is all about - with exception of college kids, sounds pretty good that someone wants to get you thru college, a home, give you a job. If only they knew.

Jennifer on 5/8/2012 9:40:35 AM
Lord, help us defeat Obama. I'm afraid the younger generation is so busy trying to make a living for their family, they don't understand what this is all about - with exception of college kids, sounds pretty good that someone wants to get you thru college, a home, give you a job. If only they knew.

Jennifer on 5/8/2012 11:33:28 AM

Add Your Comment

Submitted comments are subject to moderation before posting.

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.