Posts Tagged ‘Alan Grayson’

Has Alan Grayson Lost His Mind?

Karl Denninger on Alan Grayson’s proposal:

Has Alan Grayson Lost His Mind?

I generally like Alan so I was stunned to see this bit of pandering - although perhaps I shouldn’t be, given that it’s election season and every one of the critters in Congress is trying desperately to justify their salaries.

5 minutes of worthwhile video, but….. (you knew there would be a "but", right?)

Yes, we could cut the separate funding for Afghanistan and Iraq.  Of course we would then have the troops here, which still results in them being paid salaries, right?

The cost of a war isn’t just fuel for planes, bombs to drop and bullets to shoot.  It is also salaries for our soldiers, salaries for the development of weapons, salaries for places like Eglin and other bases.  If the total spent goes down that support to the economy goes down too.

You won’t see me argue for greater federal spending in the general sense.  But I will argue that until and unless you deal with the energy situation and our 40 years of stupidity in that regard walking away from the sources of our nation’s energy isn’t exactly smart.

Worse, however, Alan Grayson wants to give 90% of the money he would "save" through this move to "the people", thereby not actually withdrawing the deficit spending (which we should do), but instead shifting it.

$16 billion of "deficit reduction", so he claims.  But he’s not mentioning the $1.6 trillion in deficit that we have.

Cutting $160 billion wouldn’t be all that bad of an idea – that would be 10% of the deficit, and might actually matter.  Indeed, it would be what I’d call "a good start."

But 1%? 

That’s pissing into a hurricane.

Nice try at populism draped in a false cloak of "fiscal responsibility" Alan.

It’s unfortunate that "on the numbers" your bill displays an IQ smaller than your shoe size.


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The War Is Making You Poor Act

The War Is Making You Poor Act

By Alan Greyson, Huffington Post 

Next week, there is going to be a "debate" in Congress on yet another war funding bill. The bill is supposed to pass without debate, so no one will notice.

What George Orwell wrote about in 1984 has come true. What Eisenhower warned us about concerning the "military-industrial complex" has come true. War is a permanent feature of our societal landscape, so much so that no one notices it anymore.

But we’re going to change this. Today, we’re introducing a bill called ‘The War Is Making You Poor Act’. The purpose of this bill is to connect the dots, and to show people in a real and concrete way the cost of these endless wars.

Next year’s budget allocates $159,000,000,000 to perpetuate the occupations of Afghanistan and Iraq. That’s enough money to eliminate federal income taxes for the first $35,000 of every American’s income. Beyond that, leaves over $15 billion to cut the deficit.

And that’s what this bill does. It eliminates separate funding for the occupation of Iraq and Afghanistan, and eliminates federal income taxes for everyone’s first $35,000 of income ($70,000 for couples). Plus it pays down the national debt.

The costs of the war have been rendered invisible. There’s no draft. Instead, we take the most vulnerable elements of our population, and give them a choice between unemployment and missile fodder. Government deficits conceal the need to pay in cash for the war.

We put the cost of both guns and butter on our Chinese credit card. In fact, we don’t even put these wars on budget; they are still passed using ‘emergency supplemental’. A nine-year ‘emergency’.

Let’s show Congress the cost of these wars is too much for us.

Tell Congress that you like ‘The War Is Making You Poor Act’. No, tell Congress you love it. Act now.

http://www.TheWarIsMakingYouPoor.com

All we are saying is "give peace a chance." We will end these wars.

Together. 

****

See also A Point Not Forgotten, Michael Panzner.


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Rep. Alan Grayson: You Own the Red Roof Inn, Thanks to the Fed; Why the Fed Does Not Want an Audit; America is Wall Street’s Sucker

Rep. Alan Grayson: You Own the Red Roof Inn, Thanks to the Fed; Why the Fed Does Not Want an Audit; America is Wall Street’s Sucker

Courtesy of Mish

Please play this must-see video by Alan Grayson explaining in great detail exactly why the Federal Reserve does not want to be audited, and thus why it absolutely needs to be audited.

"Let’s find out once and for all who owns the hotels, who owns the houses, and let’s try and put this wild beast that creates money out of nothing and jams it in the pockets of special interests like Maiden Lane, like Bear Stearns, like JPMorgan, like all their friends. Let’s put them under some degree of restraint before it all comes crashing down, on us."

Please play the video!

Mike "Mish" Shedlock


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Fed Privately Lobbies Senate to Kill Audit; What You Can Do!

Fed Privately Lobbies Senate to Kill Audit; What You Can Do!

federal reserveCourtesy of Mish 

A bill sponsored by Ron Paul and Alan Grayson to thoroughly audit the Fed, passed the House. However in a brazen move that ought to offend the sensibilities of every citizen, the Fed is lobbying Senate members to water down the bill so that it is meaningless.

The Huffington Post tells the story in Fed Privately Lobbying Against Audit.

The Federal Reserve is privately lobbying against a bipartisan Senate amendment that would open the central bank to an audit by the Government Accountability Office, according to documents distributed to Senate offices by a Fed official.

In order to obtain the documents, HuffPost agreed not to reveal the name of the Federal Reserve official who did the specific lobbying in question.

"As I mentioned, we believe that the bipartisan Corker-Merkley provision in the Dodd Bill is quite strong and addresses issues of transparency and disclosure without impinging on the independence of monetary policy," the official goes on.

Merkley teamed with Sen. Bob Corker (R-Tenn.) on an audit provision, but Merkley himself says he’d prefer to go further. "I appreciate Representative [Alan] Grayson’s concerns over accountability at the Federal Reserve. I have been a strong proponent of Fed reform and voted against the re-confirmation of Ben Bernanke because the Fed has been so lax in using its regulatory powers," Merkley said in a statement to HuffPost, responding to an analysis from Rep. Alan Grayson (D-Fla.) showing that the Senate bill did not meaningfully expand transparency.

The Fed argument is a replay of a tactic that the bank tried in the House. Instead of outright opposition, the Fed backed an amendment in the lower chamber from Rep. Mel Watt (D-N.C.), which the bank said would expand transparency but not interfere with monetary policy. It became clear, however, that the amendment would not expand transparency and was an attempt to defeat the audit in general. The Watt amendment was soundly defeated.

The Corker-Merkley amendment is the Senate version of the Watt amendment and the Fed is once again arguing that the broader amendment will impinge on the independence of monetary policy.

"The Sanders amendment, however, would directly interfere with monetary policy," argues the Fed official. "The amendment removes the current statutory protection for core monetary policy activities from GAO audit and would permit the GAO to


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THIS Is How a Congressman Does His Job

THIS Is How a Congressman Does His Job

Courtesy of George at Washington’s Blog 

Watch Alan Grayson question the general counsel for the Federal Reserve:
 

 

 


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Zero Hedge

Mapping The Highest And Lowest Incomes Of America's City Slickers

Courtesy of ZeroHedge. View original post here.

All throughout history, people have gone to cities to take advantage of the wealth and business. We wanted to know which metropolitan areas offered the best opportunities for Americans, so we looked at data for all 382 metros.

Want to know where to make the most money? The following map from HowMuch.net shows just where... ...



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Chart School

Happy Thanksgiving :) Friday Should Be A Winner

Courtesy of Declan

Thanksgiving Wednesday was never going to generate an exciting day but it was good to see early week gains retained. Upcoming Thanksgiving Friday is typically a day when Junior traders go wild and decent gains are posted - even if trading volume is light. With last week's lead action I wouldn't be surprised if this pattern was to repeat.

Tech Indices have been leading the charge in recent days and I would look to the Nasdaq and Nasdaq 100 to be the primary chargers on Friday. Technicals are firmly in the green.

The Nasda...



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Phil's Favorites

Retail rage: Why Black Friday leads shoppers to behave badly

 

Retail rage: Why Black Friday leads shoppers to behave badly

Courtesy of Jaeha Lee, North Dakota State University

The manic nature of Black Friday has at times led shoppers to engage in fistfights and other misbehavior in their desperation to snatch up the last ultra-discounted television, computer or pair of pants.

What is it about the day after Thanksgiving – a day meant to celebrate togetherness and shared feasting – that inspires consumers to misbehave?

Fellow researchers Sharron Lennon, Minjeong Kim, Kim Johnson and I have in recent years been exploring the causes of consumer misbehavior on Black Friday, historically ...



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Digital Currencies

Bitcoin: An Unknowable Bubble?

Courtesy of ZeroHedge. View original post here.

"Whatever [Bitcoin] is, I missed it... It looks and smells like all the bubbles I have seen throughout history." - billionaire investor Jim Rogers

Authored by Constantin Gurdgiev via True Economics blog,

There is a much-discussed in the crypto-sphere chart making rounds these days, plotting Bitcoin price dynamics against the historical bubbles of the past:

...



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Insider Scoop

8 Stocks To Watch For November 22, 2017

Courtesy of Benzinga.

Related CRM 9 Stock's Moving In Tuesday's After Hours Session Salesforce Falls Despite Q3 Beat The Vetr co...

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Biotech

The two obstacles that are holding back Alzheimer's research

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

The two obstacles that are holding back Alzheimer's research

Courtesy of Todd GoldeUniversity of Florida

Family members often become primary caregivers for loved ones with Alzheimer’s disease. tonkid/Shutterstock.com

Thirty years ago, scientists began to unlock the mysteries regarding the cause of Alzheimer’...



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ValueWalk

Robert Mugabe Under House Arrest, Military Takes Control Of Zimbabwe

By Andjela Radmilac. Originally published at ValueWalk.

Zimbabwe’s head of state, 93-year-old Robert Mugabe, has been placed under house arrest after what seems to be a military coup took place in the nation’s capital.

By U.S. Navy photo by Mass Communication Specialist 2nd Class Jesse B. Awalt/Released [Public domain], via Wikimedia CommonsRobert Mugabe is safe

Following numerous reports on social media late Thursday night about the increased military presence in Harare, the capital of Zimbabwe, the country’s military took...



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Members' Corner

An Interview with David Brin

Our guest David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on a range of topics including national defense, creativity, and space exploration. He is also a well-known and influential futurist (one of four “World's Best Futurists,” according to The Urban Developer), and it is his ideas on the future, specifically the future of civilization, that I hope to learn about here.   

Ilene: David, you base many of your predictions of the future on a theory of historica...



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Mapping The Market

Puts things in perspective

Courtesy of Jean-Luc

Puts things in perspective:

The circles don't look to be to scale much!

...

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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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