Posts Tagged ‘John McCain’

10 Reasons Why Conservatives Should Be Against Unfair Trade With China And 10 Reasons Why Liberals Should Be Against Unfair Trade With China

Michael Snyder makes arguments appealing to both right and left against our free trade relationship with China. Some of these arguments are better than others, but as a whole, he makes good points on each side. - Ilene 

10 Reasons Why Conservatives Should Be Against Unfair Trade With China And 10 Reasons Why Liberals Should Be Against Unfair Trade With China

Courtesy of Michael Snyder

There are very few things that the top politicians in both political parties agree on these days, but one of the things that that they do agree on is that free trade with China is a good thing.  George W. Bush, Dick Cheney, John McCain, Barack Obama, Nancy Pelosi and Harry Reid have all fully supported our trade relationship with China.  In this day and age, virtually anyone who even dares to question how fair our "free trade" is with China is immediately labeled as a "protectionist" and is dismissed as a loon.  But when you sit down and really analyze it, there are a whole lot of very good reasons why both conservatives and liberals should be fundamentally against our unfair trade relationship with China.  But you won’t hear these reasons being talked about on CNN, MSNBC or Fox News.  You won’t hear many members of Congress get up and give speeches about how trade with China is bleeding our economy dry.  Both major political parties have completely and totally bought into "the benefits" of globalism and free trade and there isn’t even much of a national debate about our trade policies anymore. 

But there should be a national debate.  Unfortunately, most conservatives are just going to accept whatever their leaders tell them to believe.  Conservatives have been convinced that to be against unfair trade is to be "anti-business" and no conservative ever wants to be anti-business.

Similarly, most liberals blindly follow whatever Obama, Pelosi and Reid tell them to believe.  Millions of hard working Democrat voters have lost their jobs due to our nightmarish trade relationship with China, but they are still convinced that Obama is their savior and that they must not ever say anything that he does is wrong.…
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McCain’s Redemption?

McCain’s Redemption?

John McCain Delivers Address On War In Afghanistan

Courtesy of Karl Denninger at The Market Ticker

John McCain may be searching for redemption here….

Dec. 16 (Bloomberg) — U.S. Senators John McCain and Maria Cantwell proposed reinstating the Depression-era Glass-Steagall Act that split commercial and investment banking to rein in Wall Street firms in response to the financial crisis.

“Under our proposal, too-big-to-fail banks would be forced to return to the business of conventional banking, leaving the task of risk taking or management to others,” McCain, an Arizona Republican, said at a Washington news conference. A former bank regulator said splitting up companies is “crazy.”

I will reiterate what I said back in the summer and fall of 2008: I am absolutely convinced that McCain’s endorsement of the TARP bailout bill, and his refusal to stand up and take a strong position in favor of the common man, is why he lost the election.

Reinstating Glass-Steagall would be a near-total reversal of his previous position.  It would be recognition of the facts: Banks that are allowed to gamble in the financial markets inherently are gambling with the sovereign credit of The United States, and inevitably transfer their losses to the taxpayer while keeping ALL of the profits for their overpriced staff and executives.

free marketThis is often said to be of "benefit" to the public because these banks are public companies.  This is a flat lie: Goldman typically bonuses out roughly half of their gross profits, with only a minuscule piece being paid in dividends to shareholders.  Other banks have similar compensation policies.

There is no "free market" way to prevent such distribution.  You can only prevent it by prohibiting lending and/or depository institutions from speculating in any form or fashion in the markets.

For those firms that wish to speculate they should be free to – with their own funds (that of their shareholders or bondholders) but they must be accountable to the last penny for each dollar at risk, and unable to transfer that risk to the taxpayer.

Wall Street will, of course, fight any such law tooth and nail, because speculating with other people’s money and being able to force the taxpayer to eat all risks of loss is the time-honored fashion by which these institutions steal hundreds of billions of dollars from…
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‘You Lie!’ Rep. Wilson’s Outburst

‘You Lie!’ Rep. Wilson’s Outburst

By Michael Scherer / Washington, courtesy of TIME

Rep. Joe Wilson (R-SC) shouts as U.S. President Barack Obama addresses a joint session of the U.S. Congress on Sept. 9, 2009
Rep. Joe Wilson (R-SC) shouts as U.S. President Barack Obama addresses a joint session of the U.S. Congress on Sept. 9, 2009

"You lie!"

Those words cut in politics. When directed at the President of the United States, during a prime time address to the nation no less, they cut deep.

So when Rep. Joe Wilson, a little known Republican and Army reserve veteran from South Carolina shouted them at the nation’s commander-in-chief on the night of Sept. 9, heads snapped. The House Chamber took a collective gasp. Nancy Pelosi, sitting behind Obama, tensed and scowled as if she had just witnessed a crime, her disgust unhidden.

Even Obama, who had just dismissed conservative claims that illegal immigrants would be able to take advantage of health-care reform, was taken aback. He looked to his left, adjusted his arm, part nervous twitch, part macho posturing, and shot back at Wilson, "That’s not true." And there, for a moment, the nation watched two men, elected to lead, call each other the worst thing in politics — dishonorable deceivers.

At the moment Wilson exploded, the outburst seemed like an assault on the President. Soon afterwards, it was clear that it had been a gift. Wilson had, in an emotional expression, proven Obama’s point: the summer of town halls had been less a discussion than a circus, a forum where misinformation was vindicated by passion, where disrespect was elevated as a virtue. Now the circus had come inside Congress.

The President’s seemingly simple statement, that "the reforms I am proposing would not apply to those who are here illegally," is not hard to check. In the Senate Finance Committee working framework for a health plan, which Obama’s speech seemed most to mimic, there is the line: "No illegal immigrants will benefit from the health care tax credits." Similarly, the major health care reform bill to pass out of committee in the House, H.R. 3200, contains a Section 246, which is called, "NO FEDERAL PAYMENT FOR UNDOCUMENTED ALIENS." Some Republicans have claimed that these protections are too weak, since they do not require stringent eligibility checks that would prevent illegal immigrants from gaming the system.

It did not take long for the condemnations to rain down on Wilson. Republican Sen. John McCain went on CNN to…
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Mapping The Market

Sad Clown

A thought from Jean-Luc:

Every day that goes by brings more shady deals from Trump's past – now Cuba, more stuff about his foundation, his taxes! No wonder he doesn't want to release his taxes either – who the heck knows is buried in there.

In the meantime, Trump gets up at 5:00 AM to tweet about Alicia Machado! What a despicable coward little man-child!

Atrios sums up my feelings:

Sad Clown

I admit I find it hard to keep up the sense of humor about things these days. We laughed a lot during the Bush years, didn't we, my fellow pony aficionados. Trump should just make me laugh and laugh and laugh and laugh. But with Bush we could sorta pretend that people voted for him because they didn't quite see him for what he was. There's no doing that with Trump. Trump is Trump. He won't win, but a lot of...



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Zero Hedge

Helicopter Money Will Ignite A "Bonfire Of Our Remaining Liberties"

Courtesy of ZeroHedge. View original post here.

Submitted by Sean Corrigan via TrueSinews.com,

I was recently flattered to be asked how I envisaged the dreaded ‘helicopter money’ working if it were not to simply add further to commercial banks’ already crippling mass of deadweight liabilities and assets, given that not only would printing it up in physical form be tortuous but that cash itself is only one conveniently heinous crime away from being proscribed altogether.

The first possibility is that the central bank iss...



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ValueWalk

LOTE: You Are Not Morally Obligated To Vote For The Lesser Of Two Evils

By The Foundation for Economic Education. Originally published at ValueWalk.

LOTE: You Are Not Morally Obligated To Vote For The Lesser Of Two Evils

“If Hitler were to invade Hell, I would at least make a favorable reference to the Devil in the House of Commons.” — Winston Churchill.

In Churchill’s estimation, Stalin was less evil than Hitler. Hence, the Allied Forces’ brief friendship with the Soviets: a marriage of convenience formed in Hell.

Image source: Wikimedia CommonsLOTE Dilemma The Right to Complain.

Every four years, Americans face the so-called lesser-of-two-evils (LOTE) dilemma: “Both major-party presidential candidates are lousy, but I’m duty-bound to vote. Free people get to co...



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Phil's Favorites

Jail Wells Fargo CEO and Chairman John Stumpf!

 

Jail Wells Fargo CEO and Chairman John Stumpf!

Stumpf's actions were not merely "unethical" — they were criminal. And in the current system, he'll not only get away with it, he'll profit more than handsomely.

Courtesy of NOMI PRINS

(Published at BillMoyers.com)

Consider this. You’re a mob boss. You run a $1.8 trillion network of businesses across state lines and continents. Many of these are legit, but a select subset of them – not so much. Every so often the illegal components flare up; some Washington commission launches an investigation, someone blows a whistle, people lose their homes, a pack of investors sheds a ton of money and lawsuits fly. You get reprimanded and have to pay lawyers and accoun...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Ghost of Lehman Haunts Deutsche Bank (WSJ)

Eight years ago this month, Lehman Brothers failed in large part due to panicked hedge funds pulling their money. With some big hedge funds worried enough to cut their exposure to Deutsche Bank AG, the parallel is obvious—but also deeply misleading.

Deutsche Bank’s shares have plummeted in recent weeks after The Wall Street Journal reported that the U.S. Justice Department suggested the bank pay $14 billion to settle allegations around mortgage securities. The bank expects ...



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Kimble Charting Solutions

Commodities attempting triple breakout, says Joe Friday

Courtesy of Chris Kimble.

Below looks at Commodities ETF DBC over the past decade. Since the highs in 2008, DBC has been a great asset to avoid. Is it time to start paying attention and potentially own this hard hit ETF? Check out the rare price situation below in DBC.

CLICK ON CHART TO ENLARGE

The CRB (Commodities Index) has been down 5-years in a row, this has never happened in the history of commoditi...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker.

Please review a collection of WWW browsing results.



Date Found: Saturday, 26 March 2016, 02:36:15 PM

Click for popup. Clear your browser cache if image is not showing.
Comment: ZH: Its a BULLARD market, the FED jaw boning is keeping the market up!



Date Found: Sunday, 27 March 2016, 02:31:30 PM

Click for popup. Clear your browser cache if image is not showing.
Comment: RTT: World trade near 2008/09 lows. SP500 near all time highs. PLACE YOUR BETS! Roll up! Roll up!



Date Found: Tuesday, 29 March 2016, 02:42:11 PM

Click for popup. Clear your browser cach...



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OpTrader

Swing trading portfolio - week of September 26th, 2016

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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Members' Corner

Market Liquidity and Macroeconomic Bullshit

 

Market Liquidity and Macroeconomic Bullshit

Courtesy of The Nattering Naybob

STJL - "Apparently macroeconomics is all bullshit – ROFL! Paging Naybob now… Famous Economist Paul Romer Says Macroeconomics Is All Bullshit."

The Nattering One muses... Macroeconomics as practiced by academics and those in charge is pure voodoo. Better to chant over goat blood, bird feathers and scattered entrails...

As for reality, overnight CNH HIBOR (...



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Digital Currencies

Gold, Silver and Blockchain - Fintech Solutions To Negative Rates, Bail-ins, Currency Debasement and Cashless

Courtesy of ZeroHedge. View original post here.

By Jan Skoyles

I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.

...



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Biotech

Epizyme - A Waiting Game

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

Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...



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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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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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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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