loudmothcha44 - This week, Romney’s campaign blew itself up. Romney and the republicans have virtually no chance of winning the presidential election. It’s over folks.
The “real” Romney was shown to everyone this week when a video of him was leaked over the Internet that shows this rich, arrogant snob speaking to other snobs at a $50,000 a plate dinner.
In this video, Romney talks about a China factory and how 12 people were in a room and there were 10 rooms with 1 bathroom. You see Romney, who inherited his money and hasn’t hardly worked a day in his life like the average American, was in China with a bunch of other people looking to buy a factory. Romney’s point was that look at how hard the Chinese work and how grateful they are for jobs compared to these lazy, free loader American workers.
Now I remind you that this is coming from a guy who was born into wealth with the proverbial silver spoon in his mouth, who has never worked in a minimum wage job or a factory in his life.
During Romney’s speech, Wagyu steak, lobster, royal caviar, and what ever else a $50,000 dinner buys you, is being passed around by servers.
So in Romney’s America, we’d all be living and working like the Chinese in this factory so that rich investors like him could make even more profits. Is this guy out of touch with mainstream America or what?
Worse, why was Romney in China buying a factory that sounds like it had horrible working conditions for its people? The Washington Post reported that Bain had invested in companies whose specialty was helping other companies move jobs overseas. Now we know what Romney was doing in China buying a factory.
Romney says, “There’s the perception that, oh you were born with a silver spoon, you never had to earning anything and so forth. And uh, frankly, I was born with a silver spoon.”
Yes folks, it’s the stupidest thing I’ve ever heard a presidential candidate say. An arrogant rich guy who actually thinks that saying, “Yes… I was born with a silver spoon in my mouth,” is going to get him votes for President. Apparently somebody forget to tell Romney that the silver spoon cliche is an insult, not a compliment.
Romney then goes on to say, “By the way, both my dad and Anne’s dad did quite well in their lives. But when they came to the end of their lives and passed along the inheritances to Anne and me, we both decided to give it all away. So, I have inherited nothing. Everything Anne and I have, we have earned the old fashion way.”
Romney’s father, George, was chief executive of Detroit automaker American Motors Corp. and a three-time governor of Michigan who ran for president in the 1960s. Mitt grew up in a wealthy Michigan suburb, attending prep school and ultimately Harvard.
Romney’s dad used his connections and money to get him accepted into Harvard Law/Business School of which Romney was hired by BCG.
BCG has a history of hiring government workers, much like Goldman Sachs does. Thus it seems Romney’s dad once again opened that door for his son.
Even if Romney didn’t get the job at BCG because of his dad’s connections in government, it is highly likely that when Romney and Bill Bain formed Bain Capital and needed to raise $37 million, that his dad helped with raising that money.
So the very idea that Romney, many years later, gave away the inheritance he received from his dad when he died, doesn’t mean Romney is a self made millionaire that earned his money, “the old fashion way”. In fact, without his dad’s powerful connections in government, influence, and initial seed money, Mitt Romney would have ended up a lazy slob like the rest of us 47% of Americans.
Romney has no one to blame but himself. Here’s Romney in his own words blowing up his campaign:
“There are 47 percent of the people who will vote for the president no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that’s an entitlement. And the government should give it to them. And they will vote for this president no matter what. … These are people who pay no income tax. My job is is not to worry about those people. I’ll never convince them they should take personal responsibility and care for their lives.”
Romney seems to be referring to the estimated 47% of Americans who did not owe federal income taxes in 2011 because their incomes were so low that they qualified for a tax credit, or because they didn’t work at all. Last year, 22% of people who didn’t owe income taxes were elderly people on Social Security, and an additional 17% were students, disabled people, or the unemployed. More than 60% of the group were low-income workers, many of whom qualified for the child tax credit or the earned income tax credit. (These workers did pay payroll taxes for Social Security and other programs.)
Put a fork in his campaign, it’s done with. Mitt Romney has 0% chance of winning the presidential election.
As a trader/investor, we will now position with the idea that President Obama will win a second term in office.