web analytics
April 2, 2015 / 13 Nisan, 5775
At a Glance
Blogs
Sponsored Post


Romney Can’t and Obama Won’t Do What America Needs (Podcast Pt. I)

Douglas Goldstein interviews former Chief Economist for the International Monetary Fund (IMF) and Harvard professor Ken Rogoff on the American debt crisis.

Romney may say the right things, but will he really be able to affect change? And Obama says… and does… the wrong things, and he has no reason to change. Democrats complain that Romney has no sympathy for the unemployment problem.

Of course this is ironic since he has been hunting for a new job for the past year. In the recent debate, he stressed how he would work to improve the economy to help the middle class. He wants to cut out deductions, lower taxes, and simplify the tax code. Great idea, but that’s not how Washington politics work. With so many special interests, will he really be able to make the required changes? It doesn’t look good.

On the other hand, Obama wants to spend his way out of the problem. He gets the money from borrowing the same way overspending American citizens fund their personal largess. Instead of paying back debt that he racked up, Obama pays the minimum monthly balance. It’s like if you pay $50 on your $5,000 credit card debt. Based on the logic of Nobel Prize winning economist Paul Krugman, the President feels he can double the amount of debt since he’d only have to make $100 monthly payments (or, in the case of the United States debt, make that an increase from $30 billion per month in interest payments to $60 billion!). This system of borrowing money will probably continue to work until at least the  election date, and maybe for a few more years. But at some point, that debt must be paid off.

On this week’s Goldstein on Gelt radio show, I asked former Chief Economist for the International Monetary Fund (IMF) and Harvard professor Ken Rogoff about the American Debt Crisis. He gave a great explanation.

Here’s part one of the show (below). Part two will be posted next week.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

One Response to “Romney Can’t and Obama Won’t Do What America Needs (Podcast Pt. I)”

  1. Rc Fowler says:

    Barack Obama has no desire to do the right and good things–he came to bring ruination–and he has succeeded; if given another four years he will double down on his ruination producing policies for both Israel and the USA!

Comments are closed.

Current Top Story
Senator Bob Menendez (D-NJ)
Biggest Democratic Foe of Obama on Iran Indicted
Latest Blogs Stories
Justice Minister Tzipi Livni, Israel's moral guiding light, with friends, convicted former PM Ehud Olmert and Holocaust Denier Abu Mazen.

Not too many people, other than Olmert himself and his lawyers who can keep up with all his cases.

A Soldier's Mother

We are told “From dust we were created and to dust we return” But not alone…a Jew, is never alone.

Talks between Iran and the P5+1 at Lausanne are likely to be extended beyond Obama's self-imposed deadline.

Obama wants a deal at any price, ending sanctions that brought Iran to the table in the first place

Doug Goldstein

Laura Adams, author of Money Girl’s Smart Moves to Grow Rich, managing your money more effectively

Wherever you are Chabad gives you that missing piece–the home you left behind, nourishing body&soul

How do you put a love of Judaism into a middle-aged man when it was never there in the first place?

It is perfectly understandable how someone who has no background in Israeli politics could mistake Bibi’s speech as racist…

Israel’s Charedi world is in financial crisis. If the trend worsens it may be their breaking point.

Why do you need to file an FBAR if you’re a US citizen abroad? What happens if you don’t?

Jews caring for one another, that is how I would explain Israel to someone.

As Iran becomes the North Korea of the Middle East, Nasrallah doesn’t understand where all his friends went.

I pray each member of Knesset will represent the interests of the State of Israel & ALL its citizens

At no time did Kahlon say that he preferred to see Bibi in another term as PM-I don’t trust him!

“Israel has nuclear weapons & it isn’t afraid to use them if necessary-Does that frighten you? Good”

American Jews think they know what’s best for Israel-better than Israelis. Here’s my take…

An old Arab man yelled at me “You’re stupid!” I returned the compliment; He had murder in his eyes.

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Laura Adams, author of Money Girl’s Smart Moves to Grow Rich, managing your money more effectively

Doug Goldstein

Why do you need to file an FBAR if you’re a US citizen abroad? What happens if you don’t?

Why do people feel the need to check their email 50X a day, constantly dipping in & out of Facebook?

How can you turn your passion into your business? How can you build your business around your life?

Find out about peak oil and how the production & sale of cheap oil has affected other oil sources

How do emotions affect the way that people make financial decisions?

Doug Goldstein talking to … Doug Goldstein

Discussing the mindset of $ and appreciating its value, and how to develop your inner entrepreneur

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/romney-cant-and-obama-wont-do-what-america-needs-podcast-pt-i/2012/10/19/

Scan this QR code to visit this page online: