An Economic Update
April 10-11 – An Economic Update
On the program this weekend, I focus on the economy. Click here to listen.
I talk with Brian Kapp, Co-founder, Portfolio Manager, and Chartered Financial Analyst at Kapp/Scanlon Financial. Brian offers a more negative view of the economy than other financial analysts who have recently appeared on this program. He is a very smart and independent thinker, and believes that further contractions in private sector credit, pending tax increases, and increases in government regulation will bring about a double dip recession. Brian believes that within the next two quarters, interest rates will rise, equity markets will decline, and the housing market will decline further. Because of his analysis, Brian and his team are positioning their investment portfolios very conservatively. If you wish to learn more about Brian’s point of view, please visit kappscanlon.com.
I also talk with Sara Mohsin, co-founder and owner of Mohsin Mortgage Company. Sara looks at the broader economy, and is surprised that more people have not made use of the home buyer tax credit. She is concerned that home prices continue to fall in many markets while the number of foreclosures continues to rise. Sara points out that the home buyer credit expires on April 30, and although the clock is ticking, there is still time to take advantage of this program. For more information on Mohsin Mortgage, click here.
I also discuss the $29 billion 2010-2011 Pennsylvania State Budget that Democrats passed in the State House two weeks ago. The bottom line is that despite the recent recession, and a $3 billion deficit in the current fiscal year, Democrat Governor Ed Rendell is proposing a $1 billion increase in spending for this coming year. On both the national and state levels, the Democratic Party is proving that it is incapable of exercising fiscal restraint and responsible leadership.
You all know that November is an important election for our state and for our nation. We must educate others now about the economic destruction that increased government regulation, as well as tax, borrow, and spend policies are having on our country. I will be speaking at the "Tax Day Tea Party" on April 15 in Mellon Square, downtown Pittsburgh. The event begins at noon and will last 1 hour. I encourage you to come out and oppose the Democratic Party’s and President Obama’s destructive agenda. I know it appears to some that we are not making a difference, but we are, and we must keep up the pressure.
Due to the holiday weekend and recent business travel, I was unable to post my blog last week. If you want to listen to my April 3-4 radio program, click here.I spoke with Keith Rothfus, a private sector attorney who is running in the Republican Primary as a candidate for Pennsylvania’s 4th congressional seat (the seat currently held by Democrat Representative Jason Altmire). Keith discussed some of ObamaCare’s legal problems, and is confident that the individual mandate – which forces every American to purchase health insurance or pay a fine – is unconstitutional. Let’s hope that this legislation is overturned by the court, because the Massachusetts experiment is proving that ObamaCare is completely unsustainable.
I also spoke with Lowman Henry – Chairman and Chief Executive Officer of the Lincoln Institute of Public Opinion Research. Lowman discusses the upcoming Pennsylvania Leadership Conference, which will take place in Harrisburg at the Four Point Sheraton on April 16 – 17. Featured speakers will include Dick Morris (Fox News analyst and best selling author), John Gizzi (political editor of Human Events), and Tim Phillips (Americans for Prosperity). You can register for the conference here. Lowman and I also discuss Governor Ed Rendell’s irresponsible $29 billion 2010-2011 state budget proposal, and offer some possible solutions to Pennsylvania’s out of control spending, including pension reform, Medicaid reform, and corporate welfare reform. For more information on these and other fiscally responsible ideas, click here.
Have a great week and I hope to see you at the Tea Party on April 15.
Glen Meakem is a successful technology entrepreneur, venture capitalist, and conservative talk radio show host, who offers information and insights on how individuals and our nation can be more successful. Glen’s unique perspective has been shaped by his experiences as founder, chairman and CEO of the B2B internet success Freemarkets Inc – which he founded in 1995, took public in 1999, and sold to Ariba in 2004. In 2005, Glen co-founded Meakem Becker Venture Capital, a firm that invests in early stage start up companies. Concerned about the liberal political agenda that has gripped the United States and his home state of Pennsylvania, Glen launched the Glen Meakem Program in 2008. Glen served as an officer in the United States Army Reserve and is a veteran of the First Gulf War. He also earned his undergraduate degree from Harvard and his MBA from Harvard Business School. For more information about Glen and the Glen Meakem Radio Program, or to read his blog, please visit http://glenmeakem.com.
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