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Obama’s Dumb Logic on Romney and Bain

I want President Obama, his entire campaign, and everybody who works in the White House to be given IQ tests, NOW. Because the rationale for their attacks on Mitt Romney’s tenure at the private equity firm Bain Capital is so dumb, that I’m concerned that the country is being run by people with substandard IQ’s.

Dumb is even worse than evil. When you go to the movies, you kind of admire the crafty evil guy. And the crafty evil chick is sexy. But no one roots for dumb characters, good or bad.

An evil president would at least understand our enemies.

Obama Monday offered up the remarkable claim, since parroted by his parrots, that Romney was a poor match for the presidency because he sought to “maximize profits” at Bain. Obama said:

Now, I think my view of private equity is that it is set up to maximize profits. And that’s a healthy part of the free market.  That’s part of the role of a lot of business people. That’s not unique to private equity.

Part of the role of a lot of business people? Maximizing profits IS THE ROLE OF ALL BUSINESS PEOPLE. You find me a business person who is not “set up to maximize profits” and I’ll show you a business person who is headed out of business.

They may contribute to charity, be loyal to their employees, and do other nice things. But they are ALL TRYING TO MAXIMIZE PROFITS.

Please, show me Obama’s college transcript. If he took a single economics course, I’ll eat my computer. All of it.

I think a president’s job is to know the first and maybe the second thing about capitalism. If he doesn’t, perhaps that’s why growth is stuck at 2 percent. Maximizing profits, Mr. President, created this country.

So Obama really thinks, whether he knows it or not, that all business people – not just Romney – lack qualifications to be president.

Romney leading a discussion among Bain executives about how to maximize profits

And what exactly is this activity Obama and his people are talking about – “maximizing profits?” It doesn’t exist. It’s really just a side effect of other things that are activities.

Have you ever asked someone, “What are you doing today,” and they said, “Quiet, I’m maximizing profits.” There is no such thing.

Romney’s claim is not that he maximized profits, but that he did things that helped investors maximize profits, turning failing enterprises around by creating efficiencies, limiting wasteful spending, while himself acting as an executive. He argues that he understands how business and the economy work.

These, um, sound like relevant experience for a president that will have to deal with $1 trillion annual deficits, pitifully slow growth, and high unemployment. I’d say any enterprise like the U.S. government that has run up more than $15 trillion in debt and is getting its credit rating downgraded could use some private equity assistance.

Let’s be clear about what’s going on here. The White House is attacking rich people and business people, saying Romney is one of them, and hoping everyone will hate such people as much as Obama does.

My bet is voters are going to hear Romney maximized profits and think maybe he knows a thing or two about what to do with the economy.

That they’ll see through the dim-witted ruse that someone who maximized profits is not really qualified to be president.

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66 Responses to Obama’s Dumb Logic on Romney and Bain

    • Thanks for the insight Eric. Bottom line: Mitt Romney is an intelligent, hard working, honest executive that has a history of problem solving and being a subject matter expert on Capitalism….the current administration should be afraid, very very afraid. The sad thing is that they don’t know what they don’t know. The Chicago-way won’t work this time around I pray.

    • I’ve had only an “outside” view of how Obama and his cohorts have mismanged and poorly invested my tax dollars without written consent and approval.

      Anyone, with an thimble full of logic, only needs to ask:

      Has the investment been implicated in a scandal? If so, why are you recommending it (again and again)?

  1. Do we want the guy who has doubled the deficit in 3.5 years, or the guy who knows how to cut costs and generate revenue? 2012 – You Decide.

  2. While there is the glimmer of hope that one of the presidential contenders offers at the very least a fundamental re-direct of public policy, the haunting fear is that we are watching “Dumb and Dumber.” A stunningly dumb president, with dumb advisors and campaign operatives supported by an even dumber electorate, who put this numbskull in office in the first place. What if they show up again at the polls this year?

    • Sadly, I personally know several that will vote for Obama again. They are still drinking the kool-aid. Makes for awkward family gatherings.

      • I am sorry for you’re problem. Mine is the same they are all Liberal very
        liberal. Oddly except for one quite well off so the kool-aid must flow
        freely we don’t talk politics. I just lurk on their Facebook page:)

  3. Please don’t eat your computer. There are a lot of toxic chemicals inside.
    If you got sick, where would I go every morning for a chance to air my personal grievances and opinions?

    Bain. The O campaign has nothing else and it’s supposed to aid the class warfare that they think will win over the poor and the suffering middle-class voters. Baming Bush has been a non-starter, the earthquake defense flopped, war on women is laughable, Obamacare is best not mentioned ,they drained every drop of credibility from the death of BinLaden and all they got was a dead cat bounce in the polls.

    MrO is not the genius or the smartest man in the room on any issue or proposition. He thinks he “saved” the auto industry with our money but he only gave it to his friends in the union. He didn’t give any money to Toyota or the Mercedes companies and they are still in business. He doesn’t know what it means to gamble your savings, your home equity or family money to follow a dream to own your own business and what it takes to make it profitable.

      • Keith – you have to remember that Keynesian theory (eg, ridiculous government spending to “stimulate” the economy) is an economic subject. I was an Econ guy in college but at my university, we focused on MICROeconomic theory (theory of the firm, profit maximization, etc.) – MACROeconomic theory tends to be far more left-wing in nature because it’s much more advocative of government involvement – eg, manipulating, er, managing the economy by twisting the nobs of money supply, inflation, government spending, etc.

  4. They are so stupid continually vilifying Bain and the rich. Because everyday
    both Obama’s are desperate to be rich part of the of the 1%. They spend all the time they can with Hollywood and other very wealthy trying to be one of them. They both know when Jan comes so will their life with the rich and famous desperation is the only thing guiding Obama not the American people.
    He’s just putting on a dog and pony show for those foolish enough to think he
    could fix the economy if he wanted to and I don’t think he does.

  5. Great piece, Keith! Obama is only interested in ‘maximizing’ one thing – the debt! He can’t run on his abysmal record so he attacks the foundation of America – capitalism/free market enterprise. Dumb as a box of rocks! But then, aren’t all communists ‘dumb’?

    What worries me most is the fact that he has squandered $5T to almost double his welfare base and take care of his cronies just in time for the election. That’s not dumb – it’s evil! In reality, he should be spending his second term in Federal prison!

  6. Keith – Thanks for your post on this…after hearing him the other day, I was hoping you’d address it.

    Of course he thinks it’s not the job of the president to “maximize profits” – just look at Solyndra!

  7. Before long the Obama 2012 Campaign genius’ will run out of enemies and wars and will have to turn on their own. Oh wait they already have.

  8. Excellent article Keith. Can really sense you feel the same frustration as the rest of us. I don’t think they are dumb as much as they are radical ideologues. Obama is actually going to run on an anti-capitalism platform. That’s un-American and dangerous. Never in my lifetime has a president been so radically left. Not even LBJ was as radical as Obama is.

  9. O/T (sorta)….

    Movie mogul/Obama insider, Harvey Weinstein, will release a film in Sept./Oct. – “Code Name Geronimo’, OBL’s code name. Weinstein purchased the rights for the movie ($2M) exactly at the time last March when it was revealed that Obama had sent him a book with a note saying, “This would make a great movie”. The title of the book was not revealed. He did say it was a ‘spy novel’.

    This is especially egregious in light of the fact that SONY pictures is delaying the release of the FIRST OBL film until after the election. It, too, was scheduled for October release.

    Don’t know if the book Obama sent Weinstein is, in fact, the Geronimo story…but Obama’s insideous relationship with Hollywood is bordering on illicit! In this case, it could also be called election tampering! Or is it a case of ‘free enterprise’?

    WEINSTEIN PLOTTING OCTOBER SURPRISE
    http://www.theatlanticwire.com/politics/2012/05/harvey-weinstein-plotting-october-surprise-obama/52469/

    • They better make it into a comedy. If Weinstein tries to produce a serious spy movie based on a novel written by a sociopathic narcissist, he will be a laughing-stock. Can’t wait to see how Weinstein tries to turn the hero of the novel (Obama, of course) into Superman on the big screen!

      • Motion Picture Association of America (MPAA) pop quiz of the day.

        Q. Who is the president of this (((cough-cough-gag))) industry?
        A. Chris Dodd

        • You’ve got to be kidding me…I didn’t know that. What exactly does Chris Dodd know about the movie business? Guess that’s the only way he can prevent the release of any movies based on his amoral antics with Teddy. Too bad their drunken episode with the waitress sandwich will never make it to the big screen.

          • I don’t think it’s been advertised, but it speaks in “surround sound”. You are correct, it precludes any films about Dodd, but it does include incredibly access to DC. The fact that Rep. King is now holding hearings about Kathryn Bigelow’s access to information that’s been elusive to members of the House is a bell ringer for me. I don’t know if even Judicial Watch, with all the FOIA’s has made the connection. We already know, that Sir Sleeze-a-lot spends an inordinate amount of time on the West coast. Yes, there is money to be raised in Lala-Land, but there are also connections with the film industry of propaganda, since the majority of films are made for the 25-34 year old audience. Consider this new entree into movie-making a post graduate indoctrination for the same group.

  10. Bravo, Keith! BHO’s campaign is doubling down on stupid, as they do with everything they try and fail at. I say keep at it. After four years of this nightmare, the uneducated uninformed masses finally have an up close and personal view of what socialism looks like. It’s time to decide what they really want, socialism or capitalism. The only way to rebuild our country is through vigorous support and encouragement of capitalism and not higher and higher taxes, more spending, and more debt. I’m praying enough people finally see that.

  11. In Obama’s view business exists to provide employment and tax revenue. He does not understand that a business needs to turn a profit in order to employ people and grow. I don’t think he understands much of anything really, he has no real world experience and still does not. This hack is so far past of his level of competency it is mindboggling. I seriously doubt he could run a Quickie Mart, let alone this country.

  12. As usual, The O Team thinks if he throws enough words at something he will sound like he knows what he is talking about when in fact he knows nothing about anything. What a stellar example of a failure he is.
    I hope America eyes are wide open by now and we will not have to hear anymore from this jerk after election day.

  13. Did I just hear that the President is claiming that he has held back on spending and not to believe all the stuff people say about that inregard to him?!!
    Maybe I’m hearing things,did anyone else hear this?

  14. Of course, I’m continually bothered by their (the Obamas) claim toward some sort of altruism, when a review of THEIR history shows that they did their darndest to insure they did OK financially.

  15. Yep – In 2004 when he went to purchase a plane ticket to travel to the DEM Convention to give the Keynote speech, his credit cards were maxed out – he was declined. This, of course, was before MO had her $317 fake job. Sure would like to know exactly who purchased millions of $$$ worth of those science fiction books he wrote!

    • Sure would like to know exactly who purchased millions of $$$ worth of those science fiction books he wrote!

      My guess is they were purchased for political payback. Just like Jim Wright, former Democrat Speaker of the House in the late 80’s, and his book “Reflections of a Public Man”. Wright was the first Speaker in history to resign his post over ethics charges. Wish there was a way we could follow the money on the arrogant one’s book sales…

  16. The money definitely didn’t come from my local Borders store. When they shuttered their doors a couple of years ago, I ran in on the last day to bid them farewell and check out the sale books. All of the shelves had been stripped bare – there was only ONE large table with a huge pile of sale books – ALL of them – I repeat ALL… were a weird assortment of books written by both Obama and the wife. Even at a sale price of $1.00 – they couldn’t get rid of them, LOL! It made my day!

    • I have a feeling a lot of Obama’s books ended up there. I think I remember reading that a lot of them were bought up by his little groups to pass out. And, let’s not forget that the State department bought a bunch of them and stocked them at the embassies or something.

  17. Speaking of…I notice “The Amateur” is not on the NYT Bestseller list. Seems odd.

    New subject: I was thinking today that it seems the Beltway crowd does not realize that a great many of us in “Flyover Land” have access to the Internet, utilize it, recognize sites like this one and know what we’re talking about. AND now we simply don’t have to believe what the Beltway crowd tells us, and, further, what they deem important.
    So far, it looks to me as if the Romney Campaign has a grip on this.
    Note to self: send money to Keith. Send money to Judicial Watch.

    • Great article! Romney should use this in an ad. This would bring home Obama’s truly abysmal record. How is this fair and balanced? Oh yeah, I know, we are all poor!

      I sure HOPE we CHANGE our president!

  18. Sportinlife – the NYT must be reading your mind – “The Amateur” is debuting June 3 ….#1 on the list!!! I can’t put it down!

  19. This is the elephant in the room or to put it another way, when it comes to business (and profits, etc.), Obama has a blind spot big enough to drive a Mack truck through.

  20. You want a confirmation on the substandard IQ? I’d like to submit as evidence, item number 1-dumbazz, Joe “blue-collar” Biden!!

  21. Obama is nothing but a hippocrit, well actually is a lot more, but no, he calls Mitt a vampire, but at the press club awards who do you think was in attendance, who else but the head of Bain, seems he is one of Ovomits bundlers, and larger contributors,but that is overlooked, Ovomit is as big an A–hole as there ever was.

  22. Keep in mind Keith, there are a lot of dim-wits out there. That is why they want the government to take care of them from cradle to grave. The dim-wits are teaching our kids to be dim-wits too. I am all for the money for education to be tied to the kids not the unions. I sacrificed to send my kids to Catholic schools so they weren’t the establishment dim-wits. I looked at it this way, I could pay now or pay forever. I could get them a leg up or have them live in my house forever. It was an investment and it is starting to pay off now. The tax money that I had to pay to the public schools was just as wasted if I would have sent them there anyway.

  23. Doing a bit of research on my own regarding Bain and Armco Steel who owned the plant in Kansas City that went bankrupt and laid off 750 workers after Bain Capital took it over.
    My father worked his whole life for Union Wire Rope, another Armco Steel plant in KC that was closed down long before Bain but Armco. It was old, outdated, and failing to keep up with global steel production. The same with GST (I think it was) when Bain bought Armco out. Armco had already laid off approx 2K of the workers by then and was going to close the plant. Bain purchased it, put 150M or so or private investor’s money into restructuring the plant trying to make it profitable, failed to do so and wound up closing it down finally. The remaining 750 workers were laid off (they actually had a longer career then if Armco Steel had still owned the plant. Armco was shutting it down years before it actually was closed under Bain)
    Now, consider Obama, his administration and ohh let’s say Solyndra as a comparison. His O-ness’ administration provided $500M of your and my tax dollar to his pals and political contributors at Solyndra. This in spite of his advisors saying it was a very risky and bad investment. Who cares, it’s not his money anyway, it’s public funds, no need to make a profit. Solyndra blew it all, went backrupt anyway and laid off 2K or so workers. Is that the Libs idea of successful capitalism? I assume so, since none of their money was at risk and they got a lot of the tax dollars they invested returned through the back door of political contributions…sweet deal if you can get it…

  24. I find it interesting that no one in the media seemed to want to talk about the “qualifications to be President” when we had a completely unqualified, inexperienced, do-nothing, one-term senator from Illinois running for that office.

  25. It isn’t “Dumb” logic, it’s Liberal Logic. Liberal logic is a sort of inverse logic. Liberal logic says that since Bush spent us into record debt, it was up to Obama to spend twice as much to get us out of debt.

    Liberal Logic says that because it’s wrong to deny people opportunity beause of their race, the way to solve th problem is to deny the same opportunities based on race to a different race to make things fair.

    Liberal logic says that Congress does not need to read bills before they pass them because those bills can just as easilly be read after they’re passed.

    Liberal logic says that we neeed to strip search chidlren and the elderly at airports to make sure no armed terrorists can come into the country but that we don’t need to pay any attention to anyone walking or even driving a truck full of explosives across the Mexican Border.

    This sort of logic may seem “dumb”, but that’s only because none of it actually involves logic, but instead it’s make-believe of the sort that if repeated often enough soon become articles of faith among true believers.