Posts Tagged ‘John Boehner’

The Show Must Go On

Courtesy of Jim Quinn, The Burning Platform

The Debt Ceiling Reality Show is winding down to its dramatic conclusion on August 2. I think Fox should capitalize on the drama by gathering the American Idol judges to vote on the best performance by a political hack. We can have Ryan Seacrest announce on August 1 at 11:55 pm that the winner is – THE WALL STREET MONIED INTERESTS.

  

The latest round of kabuki theatre performed by the corrupt lying thieves in Washington DC is being played out every night on the MSM. The volume of misinformation, lies, exaggerations, posturing, and propaganda is staggering. These vile excuses for leaders know that 80% of the American population wouldn’t know the difference between a debt ceiling and a drop ceiling. They use this ignorance to their advantage, as Obama warns that old people won’t get their social security checks and government drones won’t be paid. 

According to Gallup, Republicans and Independents don’t want the debt ceiling raised. The poll also indicates that at least one third of Americans don’t care. They are too outraged by the Casey Anthony verdict to focus on the economic future of our country.

Debt Ceiling Poll

I’ll let you in on a secret. The debt ceiling will be raised. Sorry to ruin the surprise, but this entire sordid episode has nothing to do with our dire economic situation. It is solely about the 2012 elections. Both parties are conducting overnight polling on which talking points are working best in convincing the sheeple that their party is less likely to be blamed. Posturing and polling are what passes for leadership in America. It is a disgusting display and will contribute to the ultimate collapse that is headed our way like a Japanese Bullet Train.

Here is a summary of where we stand according to the MSM and the political class in Washington DC:

  • The supposedly grand compromise that would have “cut” $4 trillion from future deficits fell apart last week. The Democarats wouldn’t “cut” entitlements and the Republicans wouldn’t “raise” taxes.
  • The latest proposal was down to $2 trillion of future “cuts”, but neither side would agree to what and when.
  • Now in the ultimate Washington kick the can move, Mitch “Turtle Face” McConnell has proposed that Obama increase the debt limit in three stages, while requiring him to propose offsetting spending cuts, offering a potential path out of the


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GOP: The Old Muppet Hecklers in the Balcony

Very good points in the ongoing, unproductive battles between the democrats and republicans.  No wonder the homeless Green party candidates may really have a chance.  Not that there’s anything wrong with having Starbucks as your office. – Ilene 

GOP: The Old Muppet Hecklers in the Balcony

Courtesy of Joshua M. Brown, The Reformed Broker 

I’ve so thoroughly trashed President Obama’s economic policies and failed stimulus attempts recently that I fear I may be giving readers the wrong impression…the Dem’s are only one half of the Economic Death Squad that now pretends to offer leadership in this country.

The GOP is probably 2/3rds responsible for the credit crisis to begin with (chain-sawing rulebooks will do that) and its current leadership has been equally pathetic in terms of bringing solutions to the table for joblessness and weak business activity.  Unless of course you consider the Rain Man-esque repetition of "more tax cuts" as an example of innovative thinking.

So it should surprise nobody that Obama’s $50 billion infrastructure stimulus speech in Milwaukee today was panned within milliseconds of its conclusion by House Republican leader John Boehner.  As if there were any chance that Boehner would even listen to the address for any reason other than to know what it is that he is against.

The GOP’s constant kneejerk rejection of economic ideas simply for the sake of Saying No has as much to do with our current malaise as anything being done wrong in the White House.  The newly-minted fiscal conservatives on the Republican side of the aisle, many of whom are themselves responsible for the $3 trillion and counting Iraq War, are like the old men who heckle the Muppet Show from the balcony.

It’s naysaying for naysaying’s sake at this point and I hope voters will remember that their favorite Republican All-Stars are equally complicit in the crime that is 15 million unemployed 3 years into a recession. 


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Boehner Tells Bankers to Stand Up to Those Senate Punks

Boehner Tells Bankers to Stand Up to Those Senate Punks

Courtesy of JESSE’S CAFÉ AMÉRICAIN

"O heaven,…put in every honest hand a whip to lash the rascals naked through the world."  William Shakespeare, Othello

Senate Minority Leader John Boehner told the American Bankers Association to ‘stand up to those punks’ in the Senate who want to regulate them. He said ‘staffers’ but that is because professional courtesy prohibited him from saying ‘Senators.’

Perhaps Mr. Boehner feels a burst of confidence since Timmy and Ben and Larry have his back. And of course the bankers to whom he was speaking already have 25 lobbyists fighting against reform for every Congressman in Washington, and buckets of cash to spread around.

Actually, the only ones who seem to be underrepresented and in trouble in Washington these days are the American people.

The Dodd bill has its good points, but contains some bizarre twists. The ruling that the Fed would only supervise banks of over 50 billion seems particularly bizarre. Mr. Hoenig of the Kansas City Fed objected to this today. As well he might, since his district contains NO banks worth more than $50 billions, and he would be presumably out of a job.

This is classic Democrat blundering. Spend many months negotiating and seeking partnership with people who would just as soon place their hands in a meat grinder as make any reasonable compromise, and then toss off some bizarre legislation seemingly out of nowhere, after having made a big deal out of wishing to be ‘bipartisan.’ The Democratic party seems leaderless.

One thing for which I will give credit. Mr. Obama has certainly united his country — in believing that he is one part corrupt Chicago politician and two parts a rather ineffective waffler who mistakes campaign-style speaking for leadership and timidity for consensus building.

Leadership in the real world is measured by getting the job done, and being recognized as effective by your own people and your key stakeholders, inspiring them with confidence and the ability to do even more than they might have imagined.

The American President reminds me of a corporate executive at a company which had recently acquired mine who was clearly over his head in his current position. When asked why he did not meet his commitments, he replied without hesitation, "My people are incompetent."…
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Phil's Favorites

Meet the new 'renewable superpowers': nations that boss the materials used for wind and solar

 

Meet the new 'renewable superpowers': nations that boss the materials used for wind and solar

Blue Planet Studio / shutterstock

Courtesy of Andrew Barron, Swansea University

Imagine a world where every country has not only complied with the Paris climate agreement but has moved away from fossil fuels entirely. How would such a change affect global politics?

The 20th century was dominated by coal, oil and natural gas, but a shift to zero-emission energy generation and transport means a new set of elements will become key. Solar energy, for instance, still primarily uses silicon technology, for which the major raw material is the rock quartzite. Lithium represe...



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Zero Hedge

North Korea Bailed At The Last Minute On Secret Meeting With Pence

Courtesy of Zero Hedge

Two weeks ago, followers of geopolitics couldn't help but speculate about the chances of a clandestine meeting between North Korea and the US when the news first broke that North Korean leader Kim Jong Un's younger sister, Kim Jo Yang, would be attending the Winter Games in PyeongChang.

After all, US Vice President Mike Pence was already confirmed to be stopping by South Korea during the beginning of the Games as part of a five-day Asia tour. But the White House was quick to repudiate this chatter, announcing that there were no plans for diplomatic talks, though both US and North Korean rhetoric since then has left the door open for such a meeting.

But as it turns out, just as the White House was denying it, plans for talks were being set in motion...



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Chart School

Sellers Come In But Semiconductors Gain

Courtesy of Declan.

Markets were set up for sellers with most indices experiencing broad selling. However, the one index which looked set up best for shorts - the Semiconductor Index - actually managed to gain.  Anyone taking up Friday's short in the latter Index will have been stopped out but another shorting opportunity may have presented itself. Technicals haven't returned to becoming net bullish but only the ADX remains to shift.


The S&P eased a little lower but didn't return below what was channel support. Te...

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ValueWalk

Bill Nygren's Stock Picks

By VW Staff. Originally published at ValueWalk.

Bill Nygren, Harris Associates U.S. equities CIO and Oakmark Funds portfolio manager, shares his top stock picks and long-term investment strategy.

H/T Dataroma

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Bill Nygren's Stock Picks

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Insider Scoop

Stifel Sees Reboot Opportunity For Chipotle, Upgrades From Sell To Hold

Courtesy of Benzinga.

Related CMG Benzinga's Top Upgrades, Downgrades For February 20, 2018 The Market In 5 Minutes: Albertsons-R...

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Digital Currencies

As Bitcoin Nears $11,000, Here's A History Of Its Biggest Ups And Downs

Courtesy of ZeroHedge. View original post here.

The cryptocurrency rebound off Feb 5th's bloodbath lows (below $6,000 for Bitcoin) has been impressive, as a 'mysterious' massive buyer 'bought the dip' and momentum took care of the rest.

With Bitcoin now nearing $11,000 (almost a double off the lows), ...



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Biotech

What is 'right to try,' and could it help?

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

 

What is 'right to try,' and could it help?

In this March 18, 2011 photo, Cassidy Hempel waved at hospital staff as she was being treated for a rare disorder. Her mother Chris, left, fought to gain permission for an experimental drug. AP Photo/Marcio Jose Sanchez

Morten Wendelbo, Texas A&M University and Timothy Callaghan, ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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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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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.

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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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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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