Posts Tagged ‘Davis Bacon’

Buried One Mile Deep In Economic News: Rand Paul Proposes Elimination of HUD; Churches “Walk Away”; China Hard Landing; Repeal of Davis-Bacon

Courtesy of MIsh

Many stories of significance have come my way on housing issues, state debt issues, federal debt issues, pension issues, and other economic items of note. I feel as if I am buried a mile deep news. Here are a few stories that caught my eye.

Senator Rand Paul Proposes Elimination of HUD

I am pleased to report a tremendous deficit cutting idea by senator Rand Paul: Eliminate Energy, HUD and most of Education department

In his first major legislative proposal, U.S. Sen. Rand Paul has proposed cutting government spending by $500 billion in a year, including eliminating the Departments of Energy and Housing and Urban Development and most of the Department of Education.

That is the single best piece of fiscal legislation proposed in years.

Nevada Governor Brian Sandoval Addresses Underfunded Public Pension Plans

While Illinois has jumped off the deep end with tax hikes, Nevada’s Governor says Tax increases last thing Nevada businesses need

Tax increases are the last thing Nevada businesses need now, Gov. Brian Sandoval told a receptive audience Wednesday during a speech to the Las Vegas Chamber of Commerce. "My understanding is that PERS is an $8 (billion) or $9 billion unfunded liability that Nevada can’t afford," he said. Sandoval said benefits reforms must starts with the new employees hired by the state.

I commend Governor Brian Sandoval’s ideas and his starting point. States need to scrap defined benefit pension plans for new hires immediately.

100,000 People in Oakland Expected to Apply for 650 Subsidized Housing Openings

The San Francisco Chronicle reports Oakland opens waiting list for Section 8 vouchers

Oakland’s housing authority opened up its waiting list Tuesday for Section 8 housing vouchers, drawing thousands for a coveted spot in line.

The only way to sign up was over a computer, so across the city, hundreds jammed into city libraries to fill out the forms in the hope that they might eventually get a chance to live in subsidized housing.

In the first three hours, 6,000 people filled out applications. Over the five-day application period, the housing authority expects 100,000 people to apply for only 10,000 spots on the waiting list.

The housing authority uses a lottery to determine who gets on the list. And even then it’s no more than a foot in the door. It has taken nearly five years to clear the waiting list that was


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Revolutionizing House Monetary Policy; Balanced Budget Amendment Wins Backers; Plea to Republicans; Case for Compromise; Irony of Bernanke’s QEII

Revolutionizing House Monetary Policy; Balanced Budget Amendment Wins Backers; Plea to Republicans; Case for Compromise; Irony of Bernanke’s QEII

Courtesy of Mish

With Republicans taking control of the House, Ron Paul becomes the senior member on the Domestic Monetary Policy Subcommittee of the House Financial Services Committee.

Paul looks to raise hell judging from his plans.

Those looking for good news amidst the insanity of QEII can find it here: Ron Paul Is About to Totally Revolutionize the House Monetary Policy Panel

“I will approach that committee like no one has ever approached it because we’re living in times like no one has ever seen,” Paul said in an interview with NetNet Thursday.

Paul said his first priority will be to open up the books of the Federal Reserve to the American people. “We need to create transparency there. To see what it is they are buying and lending, and who it is they are dealing with,” Paul said.

Paul mentioned that he hoped to use subcommittee hearings to educate the public about the causes of business cycles—which he believes are mainly attributable to monetary manipulation by central bankers.

Monetary reform is also on the agenda. Paul is a noted advocate of the gold standard.

“We will have to have monetary reform,” Paul said. “I think those on the other side of this issue are already planning. They are going to try to replace a bad system with an equally bad system.”

Rubio Supports Balanced Budget Amendment

Rand Paul and Marco Rubio, Tea Party backed candidates, both won and both back a balanced budget amendment.

Please consider Rubio On A Balanced Budget Constitutional Amendment

RUBIO: “Growing our economy is essential. We need new jobs in America. New jobs means new prosperity. New prosperity, by the way, leads to more revenue for government. But what would they use this new revenue for?

“Well, I think that unless there are specific provisions in law preventing it from doing it, government, no matter who’s in charge – Republicans or Democrats, will use it to grow government. That’s why it’s so important that spending constraints be put into law and, specifically in today’s topic, in the Constitution.

“Here’s the deal: history teaches us that no matter who’s in charge of government – Republicans, Democrats, conservatives or liberals – eventually, they will use it to grow government. And


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Zero Hedge

Toronto's Housing Bubble Is Crushing The Strip Club Industry

Courtesy of ZeroHedge. View original post here.

Until now, Canada's soaring housing prices were just another innocent asset bubble spawned by low interest rates and an endless supply of Chinese cash that needed to get laundered.  That said, massive bubbles are almost always followed by severe unintended consequences that can have a crippling impact on society as a whole...and in Toronto those unintended consequences are now manifesting themselves in the form of a rapidly deteriorating supply of strip clubs.

As Bloomberg points out today, the soaring value ...



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Phil's Favorites

In Stunning Victory, Democrat Doug Jones Wins Alabama Senate Seat; Trump Responds: "A Win Is A Win..."

 

Source: NY Times

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Courtesy of Zero Hedge

Update: President Trump has reacted to Doug Jones' victory:

...

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Digital Currencies

Not A Bubble?

Courtesy of ZeroHedge. View original post here.

Meet The Crypto Company - up almost 20,000% since inception in September...

To a market cap of over $12.6 billion...

Grant's Interest Rate Observer drew the world's attention to this 'company' yesterday.....



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Insider Scoop

The Market In 5 Minutes: Bitcoin, Comcast Drops Fox Bid, FOMC Meeting Begins

Courtesy of Benzinga.

Related SPY Analysis: Here's What Washington Is Likely To Accomplish By Years' End First Artificial Intelligence ET...

http://www.insidercow.com/ more from Insider

Chart School

Small Caps and Semiconductors Still in Shorting Territory

Courtesy of Declan.

While it was good day for Tech and Large Cap Indices it was a more muddled day for the Russell 2000 and Semiconductor Index.

The Russell 2000 wasn't able to enjoy the fruits of what was low key buying experienced in other indices. A second doji in a row gives shorts something to work with as the 'Bull Trap' continues to influence buyers behavior.


The Semicondcutor Index was able to post similar gains as other lead indices but hasn't yet done enough to challenge its 50-day MA. ...

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Biotech

DNA has gone digital - what could possibly go wrong?

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

 

DNA has gone digital – what could possibly go wrong?

Courtesy of Jenna E. GallegosColorado State University and Jean PeccoudColorado State University

Modern advances come with new liabilities. Sergey ...



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ValueWalk

Tax Bill May Spark Exodus From High-Tax States

Courtesy of FinancialSense.com via ValueWalk.com

The following is a summary of our recent podcast, “Exodus – The Major Wealth Migration,” which can be listened to on our site here on on iTunes here.

It’s looking increasingl...



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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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