Get The Lead Out!

I recently attended a continuing education class and had to tackle my wallet as it bolted for the door. In what can only be described as a staggering example of an overreach of governmental regulation, the EPA has implemented new costly regulatory measures to combat potential issues involving lead based paint, which is found in buildings constructed before 1978. An NBC affiliate has more:



The Better Business Bureau offers further explanation.

Like the greater majority of governmental intervention in the marketplace on behalf of the consumer, the new requirements, which are beyond extensive, are going to cause significant strains to an already bludgeoned housing industry and small businesses in supporting industries. Jeremy Drobeck of 1st Class Mortgage Service is not happy. Take a listen:



FOX Business's Dagen McDowell and Brian Sullivan have more:



The Wall Street Journal thinks you are willing to suck down more costs to defend against lead based paint, but FOX Business's Brian Sullivan sums up the unintended consequences. Property owners who own homes built prior to 1978 who are considering repairs face an estimated 25% in additional costs per project as businesses must pass along the extra costs of completing the job. These additional costs serve as a tax raising expenses which could make these renovations cost prohibitive.

As a property owner of these type of properties, I will now refrain from taking on upgrading projects that fall under the new EPA requirements. In my capacity as an investor, I will be much more inclined on purchases for renovation and for long term holding to seek out buildings built after 1978. Since I am no doubt not alone in this mindset, in my capacity as an appraiser perhaps a negative adjustment should be applied to all homes built before 1978 due to the extra costs associated with any repairs that may be required going forward.

Who will enforce these regulations anyhow, since county code enforcement workers are plenty busy already. Could it be the 6000 person civilian army President Obama has recently implemented?



Currently, our government is engaging in the installation of excessive regulations, much in support of global warming from cap and trade, that will severely handicap economic growth and prosperity. These regulations take the form of a tax, and you need not be Milton Friedman to recognize that when you tax something, you get less of it. With the implementation of the looming cap and trade bill, the residential governance on the energy efficiency of improvements and this overreach regarding lead based paint, it appears that property rights are under alarming assault. In addition, property values will face additional negative pricing pressure and any future recovery of the housing market will be handicapped.

Free market capitalism remains the best path to prosperity!

Keep the Tap Open at Happy Hour

According to a handful of reports, Happy Hour is over at FOX Business Network.

Happy Hour, a program set in the Bulls & Bears Pub in the Waldorf Astoria in Manhattan, covers market related business and political topics of the day, with hosts Eric Bolling, Rebecca Diamond and Cody Willard. It allows interaction between bar patrons and the hosts and guests. Although drafts are a bit stout at $8 a piece, it was fun to "be a part of the show" while having a few tall cool ones. Last time I was there I tried to turn Imogen Lloyd Webber into a conservative but failed miserably.

This decision is one of many changes that has been taking place at FBN, and I view this particular move a major mistake. Certainly, I am no television executive and I am sure they could not care what I think. But this was a quality program that had the unfortunate draw of going up against Glenn Beck on FOX News Channel, where Beck has been rewriting the record book for ratings. I watch Beck at 5PMEST, but usually caught the replay of Happy Hour. I think the show would fare much better if they moved it 6PM.

FBN has some outstanding talent on hand and I hope they have some positive plans for the future. So far I am not real keen on what has been happening. Certainly, the recent departure of the talented Alexis Glick, who is left of my taste, is a major loss. I hear Judge Andrew Napolitano is getting a weekend show, and that is good news as he is very strong. Charles Payne is a very good market analyst and I would like to see him get a show. FBN also apparently canceled the Saturday show with Dagan McDowell and Tracey Byrnes, which I think is another mistake. Eric Bolling is very good and I do like Cody Willard and his opinions as well. David Asman is top notch, and his program America's Nightly Scoreboard is great. Liz Claman and Stuart Varney are strong centerpieces for Neil Cavuto to work with.

I hope the future is bright for FBN, but I sure do wish they would keep the beers flowing during "Happy Hour"

Empower the Entrepreneur

Across America, under the tyrannical governance of the Obama administration, small business, home of the entrepreneur, is under assault. The Kauffman Foundation, a foundation formed to attain economic independence by advancing educational achievement and entrepreneurial success by Ewing Kauffman, Marion Laboratories Inc. founder and former owner of Major League Baseball's Kansas City Royals, is combating the assault with a new entrepreneurial pledge.

Through the pledge, the foundation correctly concludes it will be the entrepreneur who leads any future economic recovery and they ask you to pledge to join the movement.



In that spirit, I am reminded of the great story of entrepreneurship of a self made multi-millionaire, Chris Gardner, whose story is depicted in one of my favorite movies, The Pursuit of Happyness. Recently, Chris Gardner sat down with Eric Bolling, Cody Willard and Rebecca Diamond on FOX Business's Happy Hour to discuss entrepreneurship.



Cash is in fact king, and the best path to prosperity is free market capitalism and the empowering of the entrepreneur. The current political path to socialism must be thwarted for our economy to regain expected levels of growth and expansion.

Who is Obamacare Army Adversary?

Previously, President Obama has openly spoken about his intention to form a civilian army, one with equal power to our military forces. Roll the tape:



Is there a need for this type of organization? What purposes does the President envision for this organization? What is the makeup of the individuals who will staff this organization? Who is the organization accountable to? These are just a few of the many questions I have. Glenn Beck, fellow sick twisted freak, has some questions as well:



I have found this administration untrustworthy, and find the announcement of the formation of the "Ready Reserve Corps" to be most troubling. You become an instant candidate for the Anti-Christ if in any way you were to compare Obama to Adloph Hitler, but did Hitler not form a civilian army which morphed into the SS?

I am not going there, yet, but I do see the potential for members of civil disobedience groups like ACORN or union thugs from SEIU staffing the Reserve Coprs. Will the Apollo Alliance, who astonishingly helped craft the stimulus bill, be part of the creative team? Of course, the NY division of Apollo is headed by Weather Underground co-founder, along with Obama's favorite unrepentant terrorist William Ayers, Jeff Jones. As reported by Atlas Shrugs, they have already began recruiting veterans to help launch an “Operation Free” campaign that has veterans touring the country to call for federal action on climate change, which is perhaps the greatest hoax of all time. I could easily see former Green Jobs Czar Van Jones running point on this!

As alarming as this is, the organization is not set up to be accountable to American people through Congress, but only to the President. See the following:

3) APPOINTMENT.—Commissioned officers of the Ready Reserve Corps shall be appointed by the President and commissioned officers of the Regular Corps shall be appointed by the President with the advice and consent of the Senate.
Source pg 1312

Caution on the speedway!! I read that as advice and consent of the Senate, not accountable to the Senate, or the American people for that matter. This administration has bullied the other legislative branches, threatening Congress and admonishing in front of the American people the Supreme Court of The United States, attempting to diminish their power. Our country is built on among other things a system of checks and balances, to prohibit abuses of power. I consider the President forming his own army accountable only to him for undefined domestic purposes such an abuse.

On top of it all, the provision, and the entire Health Care Reform Bill for that mater, may in fact be unconstitutional. Judge Andrew Napolitano of FOX News discusses the action on FOX Business Network's Happy Hour with Tracey Byrnes, Eric Bolling and Cody Willard. Take a listen:



So we have the Ready Reserve Corps, a domestic army formed to operate at the discretion of the President to be used for domestic purposes accountable only to the President. For what reason? Who is the enemy of the armed Reserve Corps? I sure hope it is not me and my fellow Tea Party Patriots!