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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Zero Hedge

Red China Goes Redder, Stocks Tumble Despite Government Ban On Bearish Talk

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Despite more liquidity injections (CNY35 billion 7day RevRepo), archaic deals for brokerages to manipulate their balance sheets, and local reporters noting China's propaganda ministry ordering state media to publish only positive opinions about the stock market, not to criticize, Chinese stocks are in red once again. The record streak of margin debt declines continues and although futures were driven up early on, any strength has been sold into as unwinds wreak havoc on the ponzi wealth creation scheme. All major indices are in the red with Shenzhen (home of the 500%-club) the worst, down around 2% (though as CNBC would say "off the lows"...



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Phil's Favorites

Aging Trucker Workforce Coupled With Increased Demand Provides Strong Incentive for Trucking Robots

Courtesy of Mish.

Demand for truck drivers is on the rise. Yet, there are not enough young drivers who want that rough of a lifestyle.

Supply Chain reports Aging Truck Driver Work Force - A Major Issue in Filling Demand & Empty Seats.
With a combination of retirements and people exiting the industry, carriers need to recruit in roughly 100,000 drivers per year over the next decade to simply keep pace with projected United States freight needs.

The American Transportation Research Institute (ATRI) released a fascinating white paper analyzing the age demographics of truck drivers.
...



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All About Trends

Mid-Day Update

Reminder: David 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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Kimble Charting Solutions

Shanghai index creates historic reversal pattern like 2007

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

Much of the attention around the world seems to be revolving around a small country called Greece. What about the most populated country in the world (China), any key messages coming from there of late?

Well another Month, Quarter and Half a year are in the books. With this in mind I wanted to look at Monthly action of the hottest stock market in the world, the Shanghai Index. Above looks at the Shanghai index over the past 25-years. The 100%+ rally over the past year has pushed the Shanghai index up to its 23% Fibonacci ratio and a long-term resistance line, that has been in play for 25-years at (1) above.

As the Shanghai index was hitting this...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and  Economy

Ukraine Halts Russian Gas Purchases After Price Talks Fail (Zero Hedge)

It has been a bad day for deals and deadlines all around: first Greece is about to enter July without a bailout program and in default to the IMF with the ECB about to yank its ELA support or at least cut ELA haircuts; also the US failed to reach a nuclear deal with Iran in a can-kicking negotiation that has become so farcical there is no point in even covering it; and now moments ago a third June 30 "deal" failed to reach an acceptable conclusion when Russia and Ukraine were unable to reach an agreement on gas prices at talks in Vienna on Tuesday. As a result, Ukraine is suspending its purchase of Russian gas.

...



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Insider Scoop

Level 3 Acquires DDoS Mitigation Company Black Lotus, No Terms

Courtesy of Benzinga.

Related LVLT Benzinga's Top Initiations Goldman Sachs Initiates Level 3 Communications With Buy The Time To Hedge Is Now! June 2015 Update (Seeking Alpha)

Global telecommunications provider Level 3 Communications, Inc. (NYSE: LVLT), announced it acquired privately held Black Lotus, a provider of ...



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Chart School

No Update

Courtesy of Declan.

Stockcharts.com running very slow, so no update today. ...

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OpTrader

Swing trading portfolio - week of June 29th., 2015

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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Digital Currencies

BitGold Now Available in US! Why BitGold?

Courtesy of Mish.

BitGold USA

Effective today, BitGold Announces Platform Launch in the United States.

BitGold, a platform for savings and payments in gold, is pleased to announce the launch of the BitGold platform for residents of the US and US territories. As of today, US residents can sign up on the BitGold platform and buy, sell, or redeem gold using BitGold’s Aurum payment and settlement technology. US residents will also have access to the BitGold mobile app and a prepaid card when these features launch over the coming weeks. Send and receive gold payment features are not initially available in the US.

About BitGold

...



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Sabrient

Sector Detector: Bulls under the gun to muster troops, while bears lie in wait

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

Courtesy of Sabrient Systems and Gradient Analytics

Two weeks ago, bulls seemed ready to push stocks higher as long-standing support reliably kicked in. But with just one full week to go before the Independence Day holiday week arrives, we will see if bulls can muster some reinforcements and make another run at the May highs. Small caps and NASDAQ are already there, but it is questionable whether those segments can drag along the broader market. To be sure, there is plenty of potential fuel floating around in the form of a friendly Fed and abundant global liquidity seeking the safety and strength of US stocks and bonds. While the technical picture has glimmers of strength, summer bears lie in wait.

In this weekly ...



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Pharmboy

Baxter's Spinoff

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

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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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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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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