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“If You Want To Be President . . . The Truth”

Posted by Larry Doyle on October 5, 2012 6:40 AM |

Reeling from a widely acknowledged trouncing in the first debate, President Obama had this to say while on the stump yesterday:

“. . .  if you want to be president you owe the American people the truth.”

Is that right? Why do visions of Susan Rice boldly lying to America regarding the recent terrorist attack in Libya dance through my mind?

I will allow others to weigh in on how much truth emanates from the White House and Capitol Hill.  Regular readers are well aware of my trumpeting for truth, transparency, and integrity from ALL of our elected officials and everybody else. The president’s call for veracity compels me to highlight one of the most widely commented reviews ever run here at Sense on Cents.

For the benefit of those in the White House, throughout Washington, and elsewhere, I welcome readdressing the fact that, America  Needs to Stop The Lies and The Liars:

Real long term success and greatness are founded upon the principles that people do not lie, cheat, or steal. Our nation is neither succeeding nor is great at this point in time because we have allowed these vices to grow and spread throughout our society. Shame on us.

Our nation does have the potential to be a fabulous nation again; however, let’s stop kidding ourselves in thinking that we are a great nation currently. How is it that America has lost its greatness? Where are the aforementioned vices on display?

1. Great nations do not allow themselves to wallow in debt in the manner that we have.

2. Great nations do not allow themselves to plummet in educational standards and rankings (please see chart below) in the manner that we have.

3. Great nations do not allow “regulatory capture” to propagate throughout the financial industry in the manner that we have.

4. Great nations do not allow political systems to get corrupted by the big money of industry lobbyists in the manner that we have.

5. Great nations do not allow a polarization in political and economic standing in the manner that we have.

6. Great nations do not lack real statesmen who can evoke our best spirits and lead us to greatness. Who in our nation are real statesmen? Who?

I believe the crisis situation playing out currently in the state of Wisconsin is merely a harbinger of things to come across many of our states. The Wisconsin display may be an indication of problems we face in our future but, in my opinion, it is much more a reflection of the bubbling up of the failed policies and programs we have buried in our past. The burying occurred as a result of formal and informal lying, cheating, and stealing.

Great nations and great people do not bury their problems. They confront them.

Please do not think I am not eternally optimistic about the potential for true greatness for our nation and for each individual citizen within the United States. That said, if we think we will regain our greatness while maintaining so many of the same programs of the past, we are sadly mistaken.

Shared sacrifice is the order of the day. Why so? Look at the report card provided in today’s New York Times by Charles Blow who writes,
Empire at the End of Decadence,

It’s time for us to stop lying to ourselves about this country.

America is great in many ways, but on a whole host of measures — some of which are shown in the accompanying chart — we have become the laggards of the industrialized world. Not only are we not No. 1 — “U.S.A.! U.S.A.!” — we are among the worst of the worst.

Yet this reality and the urgency that it ushers in is too hard for many Americans to digest. They would prefer to continue to bathe in platitudes about America’s greatness, to view our eroding empire through the gauzy vapors of past grandeur.

Numbers do not lie.

What is America’s future? We will only have a future if we confront our reality and stop lying about our past. We will only have a future if we expose those who propagate and profit from the lies. Why are our educational rankings so poor? Why are our prison populations so high? Why are our economic rankings so mediocre? Why do so few people trust those in Washington? We allow the lies covering these failures to flourish.

What do you want to do? Spread this message. Stop the lies. Stop the liars.

Thanks for the prompt Mr. President. I fully concur. Could you please share this commentary with Ms. Rice?

Navigate accordingly.

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.



  • Tim Favero

    Great post, Larry. Keep them coming!

  • fred


    I’m not sure I have the wording perfect, but as you often quote your wise uncle, “markets are always being manipulated by someone”.

    With that in mind, reguardless of political pursuasion, it always seems to make me angry to see markets being manipulated for political gain.

  • LD


    Indeed. I think that reality is an indication of a nation that has lost or is losing its principles.

    Yep, good ol’ Uncle Ed shared that wisdom with me a few years back. I wrote at that time,

    Although I never put much credence in those who promoted conspiracy theories and tales of market manipulation, I now do not discount those who hold these feelings — including my uncle, a world class cynic and longstanding broker. What did he share with me a few months back? He offered, “Larry, it’s a racket. Markets don’t go up, they’re put up.” I chuckled and he responded, ”You think I’m kiddin’ ya?”

    To know him is to love him.

    In light of our current market structures, especially in the equity markets, maybe my uncle is actually less cynic and more wise sage.

    For those interested in techniques and strategies used to manipulate markets, check out the following: churning, pump and dump, daisy chains, ghosting, wash-sales, bear raids, cornering the market, false market, bucketing, circular trading, front running, tailgating, jitney. Regrettably, these practices and variations thereof have gone on for time immemorial.

    “Markets Don’t Go Up, They’re Put Up”

  • fred

    Sorry LD, I misplaced my comment, it was meant for your Jack Welch post.

    After reading this post, I was reminded of a poem by Shelley. (I wonder if he’s included in the Obama approved curriculum?) Enjoy.

    I met a traveller from an antique land
    Who said: Two vast and trunkless legs of stone
    Stand in the desert … Near them, on the sand,
    Half sunk, a shattered visage lies, whose frown,
    And wrinkled lip, and sneer of cold command,
    Tell that its sculptor well those passions read
    Which yet survive, stamped on these lifeless things,
    The hand that mocked them, and the heart that fed:
    And on the pedestal these words appear:
    “My name is Ozymandias, king of kings:
    Look on my works ye mighty and despair!”
    Nothing beside remains. Round the decay
    Of that colossal wreck, boundless and bare
    The lone and level sands stretch far away.

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