The Obama Great Depression

16 01 2016

 By Timothy D. Naegele[1][2]

Soon after the presidency of Barack Obama began—on April 8, 2009—the  McClatchy-Tribune News Service published an article of mine entitled, “Euphoria or the Obama Depression?”[3]  In it, I wrote:

Barack Obama is euphorically optimistic, but neither he nor the leaders of other countries can hold back an economic tsunami, just as mankind is helpless to stop the wrath of natural tsunamis in the oceans.

. . .

According to the Rasmussen Reports, most Americans—53 percent, in fact—believe the United States is at least somewhat likely to enter a 1930s-like Depression within the next few years. If so, the repercussions are unfathomable.

. . .

Years from now, economic historians may look back at this era and conclude that the world’s central bankers were overwhelmed and Depression-era “safety nets” did not work; and global market forces ultimately determined the depth and duration of the economic meltdown, not the politicians in Washington or anywhere else.

The tsunami that was released when the housing bubble finally burst may not run its course until about 2017-2019; and its effects will be devastating worldwide. There are no legislative solutions or quick fixes to the problems. The carnage between now and 2019 will approximate the Great Depression. . . .

. . .

America and other nations are in uncharted waters; and their politicians may face backlashes from disillusioned and angry constituents that are unprecedented in modern times. Also, the limits of godless secularism and paying homage to the false gods of materialism may become self-evident.

It is interesting to reflect on these comments and others contained in the article, as well as those in an companion article that I wrote for the American Banker—the daily newspaper of the U.S. banking industry—and in an interview that I gave on these subjects.[4]  Today, it is as though the economies of individual countries are “careening,” creating a “cascading” effect.

This is not 2008 all over again. It may be much worse, even eclipsing the Great Depression of the last century.  A “perfect storm” has been gathering for a long time now; and when it hits with its full force and fury, 2008 may seem like a “blip” by comparison.  America’s Fed and the other central banks of the world will be overwhelmed; Depression-era “safety nets” will not make any difference; and panics may ensue.

The biggest worry in Washington for many years has been that there would be runs on the big funds, which are uninsured, and that a “liquidity crisis” of unfathomable proportions would occur—which would be unstoppable.  Americans and people of other countries have lost trust in their governments, which will only compound the problems.

Hold on tight. Things will get very scary between now and the end of this decade.[5]  Whatever happens will be attributable principally to Barack Obama’s failed presidency.  Indeed, there are so many tragedies he has spawned that it is impossible to do justice to each of them in a short article like this one.

For example, he has set back race relations in the United States by years if not decades. He has been a divider, not a healer.[6]  With respect to his so-called major policy “accomplishments”—such as Obamacare, limited gun control, and the Paris man-made “global warming” accords—they can and probably will be undone by executive orders on Day One when the next American president takes office less than a year from now.  Americans are clamoring for this to happen.[7]

Obama may go down as the worst president in American history, even eclipsing Jimmy Carter, which is a remarkable feat unto itself.  History may record that Obama became a “transformative” or revolutionary president, which is not what the majority of Americans wanted. Perhaps because he was not raised on the U.S. mainland, his perspective is not that of most Americans . . . even blacks.[8]

With the global economy imploding, and Obama being an impediment to the U.S. growth that has occurred, his place in American economic history may rank next to or below that of Herbert Hoover.

Today, Barack Obama is like a minstrel wandering the land, with respect to whom no one will listen.

© 2016, Timothy D. Naegele

Obama-gone

_______________________________________________

[1]  Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass). He and his firm, Timothy D. Naegele & Associates, specialize in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and http://www.naegele.com/documents/TimothyD.NaegeleResume.pdf). He has an undergraduate degree in economics from UCLA, as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University. He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal. Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g., www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com; see also Google search: Timothy D. Naegele

[2] Note: This article is an expansion of earlier articles and comments at this blog.  See, e.g., https://naegeleblog.wordpress.com/2010/09/27/the-economic-tsunami-continues-its-relentless-and-unforgiving-advance-globally/ (“The Economic Tsunami Continues Its Relentless And Unforgiving Advance Globally”) (see all of the comments beneath it) and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/#comment-8016 (“Barack Obama: A Failed American Presidency”) and https://naegeleblog.wordpress.com/2010/09/27/the-economic-tsunami-continues-its-relentless-and-unforgiving-advance-globally/#comment-8011 (“Helter Skelter Is Arriving With A Thud, Sell Everything”) and https://naegeleblog.wordpress.com/2010/09/27/the-economic-tsunami-continues-its-relentless-and-unforgiving-advance-globally/#comment-7614 (“Doomsday Clock For Global Market Crash Strikes One Minute To Midnight As Central Banks Lose Control“) and https://naegeleblog.wordpress.com/2012/02/07/poverty-in-america/#comment-7646 (“The Surging Ranks Of America’s Ultrapoor”) and  https://naegeleblog.wordpress.com/2010/09/27/the-economic-tsunami-continues-its-relentless-and-unforgiving-advance-globally/#comment-8006 (“The EU’s Collapse In 2016?“) and https://naegeleblog.wordpress.com/2015/07/01/global-chaos-and-helter-skelter/ (“Global Chaos And Helter Skelter”)

[3]  This article has been republished by RealClearPolitics, and can be found at the links that follow.

See http://www.realclearpolitics.com/news/tms/politics/2009/Apr/08/euphoria_or_the_obama_depression_.html (“Euphoria or the Obama Depression?”) and http://www.naegele.com/documents/Commentary-EuphoriaortheObamaDepression.pdf (“Commentary: Euphoria or the Obama Depression?

[4]  See http://www.americanbanker.com/issues/173_212/-365185-1.html and http://www.naegele.com/documents/GreenspansFingerprints.pdf (“Viewpoint: Greenspan’s Fingerprints All Over Enduring Mess”); see also http://marketshadows.com/2012/05/21/greenspans-legacy-more-suffering-to-come/ and http://seekingalpha.com/instablog/2951-market-shadows/31177-interview-with-timothy-d-naegele and http://www.naegele.com/documents/InterviewwithTimothyD.Naegele-ilene–SeekingAlpha.pdf (“Greenspan’s legacy: more suffering to come”)

[5]  Not factored into these comments explicitly are the effects of (1) the terrorist strikes on Paris and elsewhere in the world; (2) the immigration issue that is tearing Europe and the Middle East apart; (3) the military implosion that is taking place in the Middle East, with much worse yet to come; and (4) the effects of our adversaries (e.g., China, Russia, North Korea, Iran) on peace, and on the American and global economies.

See, e.g., https://naegeleblog.wordpress.com/2015/11/20/we-are-all-parisians/ (“We Are All Parisians”) and https://naegeleblog.wordpress.com/2010/01/19/emp-attack-only-30-million-americans-survive/ (“EMP Attack: Only 30 Million Americans Survive”) and https://naegeleblog.wordpress.com/2015/11/29/the-death-of-putin-and-russia-the-final-chapter-of-the-cold-war/ (“The Death Of Putin And Russia: The Final Chapter Of The Cold War”) and https://naegeleblog.wordpress.com/2011/01/13/china-is-americas-enemy-make-no-mistake-about-that/ (“China Is America’s Enemy: Make No Mistake About That”) and https://naegeleblog.wordpress.com/2010/12/22/the-next-major-war-korea-again/ (“The Next Major War: Korea Again?”) and https://naegeleblog.wordpress.com/2009/12/28/human-trafficking/ (“Human Trafficking”) and https://naegeleblog.wordpress.com/2015/12/06/islamophobia-is-un-american/ (“Islamophobia Is Un-American”) and https://naegeleblog.wordpress.com/2015/12/31/is-israel-doomed/ (“Is Israel Doomed?”)

[6]  See, e.g.https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/#comment-8016 (“Barack Obama: A Failed American Presidency”)  and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ (“Is Barack Obama A Racist?”)

[7]  See, e.g., https://naegeleblog.wordpress.com/2015/11/30/a-34-trillion-swindle-the-shame-of-global-warming/ (“A $34 Trillion Swindle: The Shame Of Global Warming”) and https://naegeleblog.wordpress.com/2012/12/20/abortions-and-autos-kill-more-in-america-than-guns/ (“Abortions And Autos Kill More In America Than Guns”)

[8]  See, e.g., https://naegeleblog.wordpress.com/2015/01/03/edward-w-brooke-is-dead/#comment-7434 (“Disappointment In Obama Leads Some Blacks To Ask Whether Voting Is Worth It”)





Abortions And Autos Kill More In America Than Guns

20 12 2012

 By Timothy D. Naegele[1]

Tragedies have struck again and again, with women and young students being killed at Sandy Hook Elementary School in Newtown, Connecticut; at Columbine High School in Columbine, Colorado; and elsewhere.  The loss of these lives was senseless and unfathomable; and enormous pain and shock waves have been visited upon our great nation.  Advocates of gun control believe it is the solution.  However, the killer at Sandy Hook used his mother’s weapons; and she apparently knew that his mental health issues were a potential powder keg, but she could not stop him and he killed her too.  Also, at essentially the same time as the Sandy Hook killings, 22 children and one adult were injured by a knife-wielding man outside a primary school in central China as students were arriving for classes.[2]

Guns do not kill; people do. Criminals and wackos can get their hands on guns and other weapons and commit violence, and there is nothing that can be done to prevent them—except to stop the crimes before they are committed, owing to mental health treatment, better intelligence and law enforcement.  These are violent times, which will only get much worse between now and the end of this decade; and lots of innocent people will suffer globally.[3]  However, such killings must be placed in perspective: abortions and auto accidents kill far more in America than guns do.  Indeed, there is no comparison.  Also, the FBI has reported that all homicides committed using firearms have been declining.[4]

The Second Amendment to our Constitution states in pertinent part:

[T]he right of the people to keep and bear arms [] shall not be infringed.[5]

It is part of the American culture, which is protected; and the Constitution will not be changed in this regard.  Indeed, gun sales have been rising because Americans want the ability to defend themselves as crime increases in our country, which will only get worse as the budgets of law enforcement decline during the balance of this decade.

Also, violence is glorified on TV and in films worldwide.  If Americans truly want to reduce or eliminate violence (e.g., “copycat” murders), the depiction of violence should be banned. It instills the wrong values in the kids of this world. And there is no question that Hollywood promotes and glorifies violence.

America’s resident, angry Narcissistic Brit, Piers Morgan, has been trying to change our culture—which he does not understand—by crusading for gun control, despite the low ratings of his CNN talk show, which replaced the legendary, unflappable Larry King.  Hopefully Morgan returns permanently to the UK as soon as possible, and stops “preaching” in our country.[6]

As American lawyer, conservative social and political commentator Ann Coulter has noted:

Only one public policy has ever been shown to reduce the death rate from [multiple-victim shootings]: concealed-carry laws.

The effect of concealed-carry laws in deterring mass public shootings was even greater than the impact of such laws on the murder rate generally.

Someone planning to commit a single murder in a concealed-carry state only has to weigh the odds of one person being armed. But a criminal planning to commit murder in a public place has to worry that anyone in the entire area might have a gun.[7]

On a personal note, I was a U.S. Army Infantry Officer during the Vietnam War, and I was trained with guns and know how to use them.  However, I gave away my father’s duck-hunting weapons, and do not like the idea of any weapons being around.  Accidents can and do happen.  However, I understand why so many Americans want them for hunting, and for their own protection.

Lastly, it bears repeating: abortions and auto accidents kill far more than guns do in the United States.  Abortions should be banned, and auto accidents should be curbed, if Americans and others truly want to deal with deaths instead of merely spouting rhetoric as Piers Morgan does.

© 2012, Timothy D. Naegele


[1] Timothy D. Naegele was counsel to the United States Senate’s Committee on Banking, Housing, and Urban Affairs, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass).  He practices law in Washington, D.C. and Los Angeles with his firm, Timothy D. Naegele & Associates, which specializes in Banking and Financial Institutions Law, Internet Law, Litigation and other matters (see www.naegele.com and http://www.naegele.com/naegele_resume.html).  He has an undergraduate degree in economics from UCLA, as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University.  He is a member of the District of Columbia and California bars.  He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal.  Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years (see, e.g.,www.naegele.com/whats_new.html#articles), and can be contacted directly at tdnaegele.associates@gmail.com; see also Google search:Timothy D. Naegele

[2] See http://www.enniscorthyguardian.ie/breaking-news/world-news/22-children-hurt-in-knife-attack-3325857.html

[3] Whether it is (1) Elizabeth Smart who was abducted from her Salt Lake City, Utah, bedroom, or (2) Jaycee Lee Dugard who was kidnapped in Northern California at the age of 11 and was found alive 18 years later after having given birth to two children fathered by the man who kidnapped her, or (3) sweet Madeleine McCann who disappeared in May of 2007 when she was on holiday with her British parents and twin siblings in the Algarve region of Portugal, or (4) the attack that took place at the shopping center in Southern California where I bought an Apple laptop that I am using to type this—which is across the road from where my son and his family used to live—this is a violent world in which innocent people (especially women) are preyed on by wackos.

See, e.g.http://latimesblogs.latimes.com/lanow/2012/12/shots-fired-at-fashion-island-mall-lockdown-in-place.html; see also https://naegeleblog.wordpress.com/2012/02/07/poverty-in-america/ (“Poverty In America”) and https://naegeleblog.wordpress.com/2010/09/27/the-economic-tsunami-continues-its-relentless-and-unforgiving-advance-globally/ (“The Economic Tsunami Continues Its Relentless And Unforgiving Advance Globally”) and https://naegeleblog.wordpress.com/2010/07/30/illegal-immigration-the-solution-is-simple/ (“Illegal Immigration: The Solution Is Simple”)

[4]  As of the date that this article was published, more than 1.2 million abortions had taken place in the United States this year alone.

See http://www.numberofabortions.com/; see also http://en.wikipedia.org/wiki/Abortion_in_the_United_States

Last year, motor vehicle deaths in U.S. totaled 32,367.

See http://en.wikipedia.org/wiki/List_of_motor_vehicle_deaths_in_U.S._by_year

By comparison, it has been reported:

[T]he most recent data suggests gun violence is declining in the United States.

The number of homicides committed using firearms dropped from 2006 to 2010, according the FBI’s Uniform Crime Report.

In 2010, 8,775 homicides using firearms were reported to the FBI. In 2006, 10,225 homicides using firearms were reported to the FBI.

See http://www.newsnet5.com/dpp/news/local_news/investigations/fbi-crime-reports-show-homicides-using-firearms-dropped-in-usbetween-2006-and-2010

[5] See http://www.law.cornell.edu/constitution/second_amendment

[6] See http://newsbusters.org/blogs/noel-sheppard/2012/12/19/piers-morgan-calls-pro-gun-advocate-unbelievably-stupid-dangerous-you

[7] See http://www.humanevents.com/2012/12/19/ann-coulter-we-know-how-to-stop-school-shootings/

As a lawyer-friend of mine commented, after reading and recommending Coulter’s article:

I think one of the jurisdictions that is pretty satisfied with concealed carry laws is [the District of Columbia, or Washington, D.C.], where a lot of the minority women carry weapons when they live in unsafe areas.

. . .

The bad guys aren’t as likely to bother them as they were before many of them started carrying.





Is Financial Reform Simply Washington’s Latest Boondoggle?

23 04 2010

By Timothy D. Naegele[1]

When I arrived in Washington, D.C. after graduating from law school in California, I spent two years at the Pentagon working as an Army officer in intelligence and budgets.  It was a great experience, and I have the utmost respect for our military, which is the best of our government.  One lesson I learned was that if Congress was breathing down the Pentagon’s neck, the easiest way to deal with the issue was to “reorganize,” which would throw them off the track—and the “bloodhounds” would lose the scent.

Then I worked on Capitol Hill as a young attorney with the Senate Banking Committee, and realized that when there was a national policy issue that was “too hot to handle,” a presidential commission would be formed, not unlike reorganizations at the Pentagon.  Months and sometimes years would pass while people studied the issues ad nauseam; and in the interim, the monkey was off the politicians’ backs.  One of my first tasks on the Hill was to staff such a presidential commission.

Fast-forward to today, and no regulatory “overhaul” is going to make a tinker’s damn in preventing future economic crises or solving the present one.  By and large, the financial regulatory agencies (e.g., the Fed, the FDIC) do a fine job, often under very difficult circumstances.  There are career professionals who will keep doing their jobs, regardless of what Barack Obama or Congress propose or enact—which is high political theater and demagoguery, and not a whole lot more.

Recent reorganizations, such as in the intelligence community, have not produced better intelligence.  Similarly, changes to the financial regulatory structure will not prevent the economic meltdown that riveted the nation in 2008, and continues to this day.  It is a tsunami, and Man’s ability to stop or affect it is marginal at best.  Reorganizing the deck chairs on the Titanic, or closing the barn door after the horse is out, will never address future problems.  The flim-flam boys of Wall Street and other financial capitals will make sure of that.

Alan Greenspan unleashed the tsunami; and the words of Giulio Tremonti, Italy’s Minister of Economy and Finance, are true and cogent to this day:

Greenspan was considered a master.  Now we must ask ourselves whether he is not, after [Osama] bin Laden, the man who hurt America the most.[2]

No financial regulatory overhaul will prevent a Fed chairman like Greenspan, or some other government official from making mistakes that produce massive suffering domestically and globally.  Perhaps if Paul Volcker had been in charge of the Fed instead of Greenspan, the economic meltdown would have been avoided.  After all, Greenspan admitted in testimony before the House that he never saw the housing crisis coming.

Like the emperor with no clothes in Hans Christian Andersen’s fable, no one was willing to call Greenspan a buffoon who was over his head—until he had unleashed economic pain, the likes of which has not been seen since the Great Depression.  It will continue to the end of this decade, in all likelihood; and there is nothing that government can do to stem it.[3]

With respect to the existing financial regulatory agencies, it must be remembered that they and their affiliated agencies (e.g., the FSLIC, RTC) dealt effectively with the savings and loan crisis of the 1980s and 1990s.  In the process, almost 800 S&Ls failed, an enormous financial crisis was averted, and the ultimate cost to the taxpayers was less than expected.

Nonetheless, in 1999, Congress repealed the Glass–Steagall Act, which had controlled financial speculation since its enactment in 1933.[4] Under Glass–Steagall, there had been a separation between commercial banking and “investment banking”—or gambling by Wall Street.  Coupled with Greenspan’s mistakes and financial deregulation, which had been championed by him, a laissez faire attitude in Washington resulted in the massive problems of today.

Can greed on Wall Street and in other financial markets be stopped?  Never.  Can the SEC do a better job?  Can the existing financial regulatory agencies tighten up here and there, and do their jobs better with enhanced powers?  Sure, but the system is not perfect just as human beings are not perfect.  Utopia is not possible; and history repeats itself over and over again.  More government regulation will not prevent economic tsunamis and meltdowns from happening.  Anyone who says so might try to sell you a bridge in Brooklyn next—or ObamaCare.[5][6]

Yet, capitulation to political demogoguery and public anger is likely.[7] With the repeal of Glass–Steagall and financial deregulation, a blurring of the lines between commercial banking and investment banking took place; and now the chickens are coming home to roost.  The baby is in the process of being thrown out with the bath water; and the demogogues in Washington are strutting in full bloom.[8] A Wall Street Journal editorial states:

While the details matter a great deal, the essence of the exercise is to transfer more control over credit allocation and the financial industry to the federal government. The industry was heavily regulated before—not that it stopped the mania and panic—but if anything close to the current bills pass, the biggest banks will become the equivalent of utilities.

The irony is that this may, or may not, reduce the risk of future financial meltdowns and taxpayer bailouts.

. . .

As in health care, Democrats are intent on ramming this reform through Congress, and Republicans ought to summon the will to resist. Absent that, the only certain result is that Washington will be the new master of the financial universe.

Amen, and then some![9]

© 2010, Timothy D. Naegele


[1] Timothy D. Naegele was counsel to the U.S. Senate Banking Committee, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass), the first black senator since Reconstruction after the U.S. Civil War.  He practices law in Washington, D.C. and Los Angeles with his firm, Timothy D. Naegele & Associates (www.naegele.com).  He has an undergraduate degree in economics from UCLA, as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University.  He is a member of the District of Columbia and California bars.  He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal.  Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years.  See, e.g.www.naegele.com/whats_new.html#articles

[2] See http://www.americanbanker.com/issues/173_212/-365185-1.html

[3] See, e.g., http://www.realclearpolitics.com/news/tms/politics/2009/Apr/08/euphoria_or_the_obama_depression_.html and http://www.philstockworld.com/2009/10/11/greenspan’s-legacy-more-suffering-to-come/; see also http://en.wikisource.org/wiki/The_Emperor%27s_New_Clothes

[4] See, e.g.http://en.wikipedia.org/wiki/Glass–Steagall_Act

[5] Harvard professor Niall Ferguson and Wall Street investor Ted Forstmann state in a Wall Street Journal article:

By all means let us regulate the derivatives market—beginning with a reform that makes it a real market. And let’s clamp down on excessive bank leverage. But let us not believe we can abolish both bailouts and depressions, other than by creating another layer of government regulation.

See http://www.naegele.com/documents/BacktoBasicsonFinancialReform.pdf

I agree with their conclusion.

[6] See also https://naegeleblog.wordpress.com/2009/12/16/the-great-depression-ii/

[7] See, e.g., http://www.naegele.com/documents/AScoldingforWallStreetHonchos.pdf; see also http://online.wsj.com/article/SB10001424052748704830404575200580858688618.html?mod=WSJ_hps_MIDDLEThirdNews

[8] Real problems with the legislation may be considerable.  See, e.g.http://online.wsj.com/article/SB10001424052748703876404575199582764862248.html

[9] See http://www.naegele.com/documents/TheNewMasterofWallStreet.pdf





America: A Rich Tapestry Of Life

26 02 2010

By Timothy D. Naegele[1]

What makes a country special and, yes, great?  Its land, its people, its history, its culture, its belief systems or its soul?  All of these, and so much more—including intangibles that most of us never think about.  The United States is that country, unlike any other on the Earth.  There is no need for Americans to flaunt it or be arrogant or condescending or aloof.  Those are not the American way.  Deep beneath the surface, there is love for people everywhere, and an appreciation of each person’s God-given gifts and uniqueness.  In a recent interview, I said:

I believe in this country, and I believe in Americans of all colors, faiths and backgrounds.  The United States is the only true melting pot in the world, with its populace representing a United Nations of the world’s peoples.  Yes, we fight and we even discriminate, but when times are tough—like after 9/11—we come together as one nation, which makes this country so great and special.  Also, all of us or our ancestors came here from somewhere else.  Even the American Indians are descended from those who crossed the Bering Strait—or the “Bering land bridge”—according to anthropologists.[2]

Most of us spend a lifetime dealing with issues and challenges that we believe, rightly or wrongly, are not of our own making; and we react accordingly.  Some are big, but most are small and petty, albeit each seems so important at the time.  For example, last night I bought a new Apple iPod on which I loaded music and other data from my laptop, but I could not find the icon on my desktop this morning.  I called Apple’s technical support line, and was routed to a fellow in India.  He was very nice and courteous, but I told him that I wanted to speak with someone in the United States.  When he said that he would let me talk with his supervisor, I thanked him but said no, and hung up and called Apple again.  The same thing happened, so I tried a third time and a very nice woman came on the line named “Abby.”  I detected a slight accent and asked where she was located, and she said the Philippines.  I thought about hanging up a third time, but decided against it.

Abby was delightful, and really tried to help.  Having been an Apple customer for about 20 years, I know how diligently she tried.  Finally, she routed me to “Amy,” who turned out to be located in Boise, Idaho.  Amy was delightful too; and we tried everything, but nothing worked because the “Made in China” iPod is apparently defective and needs to be replaced.  In the course of our discussions, I learned that Amy hailed from California, where I was born and raised.  Having had bad experiences with HP recently—where Amy’s husband has worked—in terms of its nonexistent customer support, I was pleased to tell Amy how I had gone through Apple’s ups and downs, but have been generally quite pleased with its telephone support.  It has kept me in the fold and a loyal Apple customer through thick and thin.  Something struck me in the gut though, about companies like Apple farming out calls to India, the Philippines and other countries.  It just seemed very un-patriotic.  It meant the loss of jobs that might have gone to Americans; and it was the first time that I found Apple doing it.

If I had purchased Apple stock at about $12 per share many years ago, I would have made out like a bandit.  If I had bought stock in Ford when it reached a low of $1.01 in November of 2008, which was not too long ago, I would done very well.  Ford has announced plans to hire more American workers; its new cars are great looking; and their quality is apparently superb.[3] Despite the fact that the U.S. may be in the “doldrums” for the rest of this decade, I have been pleased to tell friends and acquaintances that Ford is back, or so it seems, just like Apple came roaring back.  My first four cars were Fords, before I switched to foreign brands—with two Chevrolets thrown in—and it is nice to think about Ford once again and to have an American automaker to be proud of.  Lots of people are avoiding cars from Barack Obama’s “Government Motors” and Chrysler, and I share their views.

Whether it is a computer-related product or a car or almost anything else in life, there is a newfound pride in buying American that is surfacing in this country.  Will it result in harmful protectionism that sent the global economies into a tailspin during the 1930s?  I do not believe so because at the very least, complicated products like cars and computers often have parts that are made abroad.  However, as times get tougher, Americans and others may buy their own country’s products before turning abroad.  This is human nature; or their decisions may be dictated solely by price not sentiment.  Apple’s iPod and its computers are made in China, but even that might change—although it seems unlikely anytime soon.

In April of 2009, I wrote: “America and other nations are in uncharted waters [economically, politically, and in other ways]; and their politicians may face backlashes from disillusioned and angry constituents that are unprecedented in modern times.”[4] Even harder days are ahead, and politicians may experience electoral “bloodbaths.”  These will be years of taking stock, and of being thankful for the little things—for families and helping others.  The limits of hedonism, godless secularism, and paying homage to the false gods of materialism will become self-evident.  We may opt for simpler lives because we have to, and because we come to like and prefer a return to the basics.

When I decided that I wanted to work on Capitol Hill after spending two years in the Army, rather than rejoin a prestigious San Francisco law firm where I could make more money, I tried to get a job with then-U.S. Senator Alan Cranston from my home State of California.  To my surprise and disappointment, his staff was headed by a fellow from New York who apparently wanted to propel Cranston into the foreign policy arena, and was less interested in hiring Californians like me.  Hence, I pounded the Senate corridors and learned that then-U.S. Senator Edward W. Brooke—the first black senator since Reconstruction after the U.S. Civil War, with Barack Obama being the third—was hiring an attorney for the Senate Banking Committee.

I was hired by his chief of staff, Dr. Alton Frye, without ever having met the senator.  I was honored that a white man from California was working for a black man from Massachusetts, but that is how America works.  I went on to write the “Brooke Amendment” relating to public housing; and the national “Housing Allowance” that morphed into the Section 8 housing program, which has helped millions of Americans.  The nicest thing that some people might say about me is that I am “outspoken.”  Ed Brooke put it another way one day, when he said that I lacked “tact.”  Perhaps this is the beauty of being an American.  Each of us can speak our mind on any and every issue, without qualms about doing so.

I criticize President Obama regularly, often in scathing terms, but I almost voted for him.  Even though I disagree with almost everything he does, because I am much more conservative than he will ever be, I would prefer him any day of the week to a leader like Russia’s murderous dictator-for-life Putin.[5] Perhaps I will never forget the way Obama wrote lovingly about his mother and his maternal grandparents, “Toot” and “Gramps,” in his book “Dreams from My Father.”[6] Yet, after working in Washington, D.C. for 21 years nonstop, the one lesson I learned is that government does not work; and the Obama presidency is a shining example of that.  Only the Pentagon—where I spent two years as an Army Officer—and our military are remotely efficient and effective.  The rest of government is a vast “wasteland,”  even though there are good people working at all levels of government.

America is magnificent geographically, whether one thinks about the Grand Canyon, Yellowstone, Yosemite and other breathtaking parks, or its deserts, mountains, lakes, inland waterways and coastlines.  Its metropolitan areas are unparalleled, be it New York City or San Francisco, or thousands of cities and towns in between.  Its people are like a rainbow, with diversity undergirding all.  Its culture is rich because of the many cultures that have been blended into the American experience, which is unique in all the world.  Its belief systems are as varied as there are colors in the rainbow.  And its soul . . . ah yes, its soul . . . embraces the souls of more than 300 million people, woven together into a rich tapestry of life.

When we have decisions to make or feel that we are being called in a particular direction, our strength comes in putting our faith in God within and trusting the guidance we receive through prayer, intuition or love.  As individuals and as a country, we walk by faith not by sight.  Yes, America is great . . . from sea to shining sea—and deep in the Pacific where volcanic peaks of the Hawaiian Islands loom, and in the majestic northernmost reaches of Alaska’s tundra, and in the azure Caribbean too.  God blessed us beyond belief, although we take it for granted much of the time.  Everyone does.  This is human nature.  After all, we are not perfect.  Neither is America.  Only God is.[7]

© 2010, Timothy D. Naegele

Statue of Liberty


[1] Timothy D. Naegele was counsel to the U.S. Senate Banking Committee, and chief of staff to Presidential Medal of Freedom and Congressional Gold Medal recipient and former U.S. Senator Edward W. Brooke (R-Mass), the first black senator since Reconstruction after the U.S. Civil War.  He practices law in Washington, D.C. and Los Angeles with his firm, Timothy D. Naegele & Associates (www.naegele.com).  He has an undergraduate degree in economics from UCLA, as well as two law degrees from the School of Law (Boalt Hall), University of California, Berkeley, and from Georgetown University.  He is a member of the District of Columbia and California bars.  He served as a Captain in the U.S. Army, assigned to the Defense Intelligence Agency at the Pentagon, where he received the Joint Service Commendation Medal.  Mr. Naegele is an Independent politically; and he is listed in Who’s Who in America, Who’s Who in American Law, and Who’s Who in Finance and Business. He has written extensively over the years.  See, e.g.www.naegele.com/whats_new.html#articles

[2] See http://www.philstockworld.com/2009/10/11/greenspan’s-legacy-more-suffering-to-come/ and http://seekingalpha.com/instablog/2951-ilene/31177-interview-with-timothy-d-naegele

[3] See, e.g., http://finance.yahoo.com/q/hp?s=F&a=00&b=3&c=2008&d=01&e=2&f=2010&g=m; see also http://www.ford.com/about-ford/news-announcements/press-releases/press-releases-detail/pr-ford-kicks-off-2010-with-24-31945 and http://online.wsj.com/mdc/public/page/2_3022-autosales.html#autosalesE

[4] See http://www.realclearpolitics.com/news/tms/politics/2009/Apr/08/euphoria_or_the_obama_depression_.html; see also http://www.americanbanker.com/issues/173_212/-365185-1.html

[5] Compare https://naegeleblog.wordpress.com/2010/01/20/the-end-of-barack-obama/ and https://naegeleblog.wordpress.com/2010/01/19/emp-attack-only-30-million-americans-survive/ and https://naegeleblog.wordpress.com/2010/01/01/barack-obama-america’s-second-emperor/ and https://naegeleblog.wordpress.com/2009/12/26/obama-in-afghanistan-doomed-from-the-start/ and https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/ with https://naegeleblog.wordpress.com/2010/02/09/russias-putin-is-a-killer/

[6] See Obama, “Dreams from My Father” (paperback “Revised Edition,” published by Three Rivers Press, 2004), pp. xii (“[S]he was the kindest, most generous spirit I have ever known, and . . . what is best in me I owe to her”), 89 (“[Toot and Gramps] had sacrificed again and again for me.  They had poured all their lingering hopes into my success.  Never had they given me reason to doubt their love; I doubted if they ever would”), 343 (“I looked out the window, thinking about my mother, Toot, and Gramps, and how grateful I was to them—for who they were. . . .”); see also https://naegeleblog.wordpress.com/2009/12/05/is-barack-obama-a-racist/

[7] Some years ago, I had a law student from UCLA who worked for me as a law clerk doing research and legal writing.  He made a small mistake in a brief, but one that I considered important.  I jumped all over him.  He had worked in Saudi Arabia as an engineer before coming to law school; and he stopped me, and asked if I knew how the Saudis made Oriental rugs.

Some were made by hand and others by machines, he said, but in every case there was an intentional mistake inserted somewhere in each rug.  He asked if I knew why, and I said no.  He said the Saudis believed that only Allah—or God—is perfect; and of course I believed that too.  Since then, when I have jumped all over myself for making mistakes, or thought about criticizing others, I have recalled his story.  None of us are perfect.  Only God is.