I have been slacking on my blogging this week because I’m gearing up for my trip to Phoenix, Arizona.  I leave Thursday, and will be live throughout the day on Fox Business. 

What a great opportunity (yes, it’s the Opportunity in America series) to talk with local politicians, residents, business owners, and real estate experts.  My show will be live from 12 to 1pm ET from our location, and we’ve got some great guests lined up.  Think insiders from the McCain camp, CEO’s of major companies, sports legends, and some people from my dark secret past!

We’ll be at the Camelback Inn and Resort, which is owned by Marriott.  They just received a $65 million dollar makeover, and the town is gearing up for the 2009 NBA All Star Game. 

See you in the Valley of the Sun!

CC

Seth Glickenhaus was back with us today. He is one of the few people in this world we live in who experienced, and remembers, the Great Depression. Even better, he was on Wall Street at the time, and remembers the mood, the fear, the panic he witnesses. Seth is now 94, and he speaks a little slower, but his mind is working overtime.

Best thing about this interview? He says where we are now, is NOT where we were in 1929. He is bullish, and I mean, VERY bullish.

Take a look!

CC

I was on FNC this morning with Bill Hemmer and Megyn Kelly  (how great are they?) and they were talking about Barack Obama and comments he made back in 2001 on a Chicago radio station.  Why I think this matters to a business audience is pretty obvious.  How will you be taxed as an individual? How will you be taxed as a small business?  An idea that was floated around on the House Labor and Education Committee last week was eliminating tax breaks when you contribute to your 401K.  Yes, you will have to contribute to your retirement account after taxes, not before.  How would that sit with the American public?

So back to these comments.   Obama talks about using the Supreme Court to spread the wealth.

That seems to be where we are heading in this debate about taxes. The fight in Washington is the classic divide between what is believed to be poor versus rich. I was looking at a report from the Organization for Economic Co-operation and Development. They ranked the United States fourth in the world for economic

inequality. Top countries were Mexico, Turkey, then Portugal before us. Does this surprise you?

Should we more heavily tax those that make the most money, and redistribute that wealth to the poor? This fight has taken on a strong tone this week as Washington considers Econ. Stimulus 2. Does this deter Americans from opening businesses in this country? Does it create a welfare state? Is this the “New” New Deal?

All of these are fair questions, and I have trouble with the idea that someone making over 250K is rich. Yes, I live in Manhattan, but I think about someone that has a wife who stays home with their children. In Dallas, that would be challenging for instance, as it would here. I know that amount of money is high to most Americans, but things cost more in major cities. Don’t discount higher property values for instance.

So, what we are saying is that you should work hard, and dedicate yourself to your job, and in reward you will be taxed by as much as 50%? And some would argue that many Americans “don’t” pay taxes. (that argument rests on the refunds many Americans receive and those who do not file at all.)

Thoughts?

CC

Is it possible we are heading into a recession, but the markets will go higher during the same period? Let’s look at history:

After a 16 month recession that lasted from July 1981 to November of 1982, the S&P 500 posted a total return of 14%. A recession that lasted 8 months, from July 1990 to March 1991, saw the S&P generate an 8% total return.  Something to consider as we head into what is guaranteed to be a rough patch for our economy.

Since we’re talking the S&P,  I’ll pass along a note from Ken Sweet at our editorial desk:

“If you were to have bought the 500 members of the S&P at the beginning of 2008 as a pure stock performance play, these are your top two performers:

Big Lots, up 44.5% and Family Dollar, up 31.5%

Wal-Mart is #5, up 15%

Here’s the complete list without M&A and special dividends activity factored in.

1) Big Lots

2) Family Dollar

3) Celgene

4) Hasbro

5) WalMart

CC