Posts Tagged ‘big business’

Nothing Was Sacred: The Theft of the American Dream

Jesse wrote a terrific opening post for Phil’s Weekend article and popular R.E.M. song "It’s The End of the World as We Know It." - Ilene 

Nothing Was Sacred: The Theft of the American Dream

Courtesy of JESSE’S CAFÉ AMÉRICAIN

America must decide what type of country it wishes to be, and then conform public and foreign policy to those ends, and not the other way around. Politicians have no right to subjugate the constitutional process of government to any foreign organization.

Secrecy, except in very select military matters, is repugnant to the health of a democratic government, and is almost always a means to conceal a fraud. Corporations are not people, and do not have the rights of individuals as such.

Banks are utilities for the rational allocation of capital created by savings, and as utilities deserve special protections. All else is speculation and gambling. In banking, simpler and more stable is better. Low cost rules, as excessive financialisation is a pernicious tax on the real economy.

Financial speculation, as opposed to entrepreneurial investment, creates little value, serving largely to transfer wealth from the many to the few, often by exploiting the weak, and corrupting the law. It does serve to identify and correct market inefficiencies, but this benefit is vastly overrated, because those are quickly eliminated. As such it should be allowed, but tightly regulated and highly taxed as a form of gambling.

When the oligarchy’s enablers, hired help is the politer word, and assorted useful idiots ask, "But how then will we do this or that?" ask them back, "How did we do it twenty years ago?" Before the financial revolution and the descent into a bubble economy and a secretive and largely corrupted government with a GDP whose primary product is fraud.

Other nations, such as China, are surely acting for their own interests, and in many cases the interests of their people, much more diligently and effectively than the kleptocrats who are in power in Washington and New York these days. How then could we possibly subvert the Constitution and the welfare of the people to unelected foreign organizations? If this requires a greater reliance on self-sufficiency, then so be it. America is large enough to see to its own, as the others see to theirs.

Economics will not provide any answers in and of itself. Economics without an a priori policy and morality, without a guiding principle…
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Joe Barton and the Big Big Debate

Robert Reich writes: "The real challenge of our time has nothing to do with whether one trusts Big Business and Wall Street more or less than Big Government. The challenge is to keep the two apart, each focused on what they’re supposed to be doing." We separate Church and State for good reasons, why not separate State and Big Business? Ex-politicians could still work. They could start businesses, find government jobs, write books, join rock bands, return to previous careers, except not in the financial sector, but anything connected to their work as public servants would be off limits. – Ilene 

Joe Barton and the Big Big Debate

Courtesy of Robert Reich 

WASHINGTON - JUNE 17: BP Chief Executive Tony Hayward testifies before the Oversight and Investigations Subcommittee for a hearing on 'The Role Of BP In The Deepwater Horizon Explosion And Oil Spill' June 17, 2010 in Washington, DC. BP agreed yesterday to place $20 billion into an escrow account managed by a third party to pay out claims resulting from the oil spill and also said it will not pay out additional dividends to shareholders for the remainder of the year. (Photo by Alex Wong/Getty Images)

Representative Joe Barton’s apology to Tony Hayward for what he termed a “shakedown” of BP by the White House in order to get BP’s agreement to a $20 billion escrow fund, was the best thing to happen to BP since April 20, and the best boost for the White House in months. What possessed Barton, the ranking Republican on Energy and Commerce? 

Adding to the mystery is the fact that just four years ago, Barton, as the committee’s chair, excoriated BP’s top brass (who were then appearing before the Committee to explain the firm’s negligence in allowing 270,000 gallons of oil to spill on Alaska’s North Slope, the worst spill ever recorded in that fragile territory) for a “corporate culture of seeming indifference to safety and environmental issues … And this comes from a company that prides itself in their ads on protecting the environment. Shame, shame, shame.”

How did Barton go from BP as shameful villain to BP as shakedown victim? And how did he fail to sense the dimensions of the public’s outrage at BP this time around? 

Is it because Barton is virtually owned by Texas oil money? This can’t explain Barton’s turnaround because he was owned by oil four years ago, too.  

Is it old-fashioned partisan politics?  Four years ago Republicans were in charge of Congress and the White House, and now Democrats are. But this can’t be the reason either because Barton’s bizarre apology to BP yesterday so embarrassed congressional Republicans they pushed him into retracting it hours later. 

Stupidity? Barton was smart enough four years ago to deliver one of the most scathing criticisms of BP by any member of Congress. His “shame, shame, shame”…
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Why the Dow is Hitting 10,000 Even When Consumers Can’t Buy And Business Cries “Socialism”

Many may be asking this question, as the market surges higher and the news (looking out past gov’t influenced near term numbers) looks so bleak…

Why the Dow is Hitting 10,000 Even When Consumers Can’t Buy And Business Cries "Socialism"

 Courtesy of Robert Reich at Robert Reich’s Blog

[IMG_0516.JPG]So how can the Dow be flirting with 10,000 when consumers, who make up 70 percent of the economy, have had to cut way back on buying because they have no money? Jobs continue to disappear. One out of six Americans is either unemployed or underemployed. Homes can no longer function as piggy banks because they’re worth almost a third less than they were two years ago. And for the first time in more than a decade, Americans are now having to pay down their debts and start to save.

Even more curious, how can the Dow be so far up when every business and Wall Street executive I come across tells me government is crushing the economy with its huge deficits, and its supposed “takeover” of health care, autos, housing, energy, and finance? Their anguished cries of “socialism” are almost drowning out all their cheering over the surging Dow.

The explanation is simple. The great consumer retreat from the market is being offset by government’s advance into the market. Consumer debt is way down from its peak in 2006; government debt is way up. Consumer spending is down, government spending is up. Why have new housing starts begun? Because the Fed is buying up Fannie and Freddie’s paper, and government-owned Fannie and Freddie are now just about the only mortgage games remaining in play.

Why are health care stocks booming? Because the government is about to expand coverage to tens of millions more Americans, and the White House has assured Big Pharma and health insurers that their profits will soar. Why are auto sales up? Because the cash-for-clunkers program has been subsidizing new car sales. Why is the financial sector surging? Because the Fed is keeping interest rates near zero, and the rest of the government is still guaranteeing any bank too big to fail will be bailed out. Why are federal contractors doing so well? Because the stimulus has kicked in.

In other words, the Dow is up despite the biggest consumer retreat from the market since the Great Depression because of the very thing so…
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ValueWalk

Emerging Markets Stocks And ETFs For 2021

By Matthew Levy. Originally published at ValueWalk.

There’s not a rigid definition of what an emerging market is. For example, China is still the leading country in many emerging market ETFs and funds. But is it fair to consider China an emerging market any longer? It has nearly 1.4 billion people and was the only major economy globally to see GDP growth in 2020.

Q4 2020 hedge fund letters, conferences and more

That’s like calling Giannis Antetokounmpo an up and coming superstar despite winning the last two NBA MVP awards.

But even if I did see ...



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Kimble Charting Solutions

S&P 500 Testing Top Of 30-Year Rising Channel, Says Joe Friday

Courtesy of Chris Kimble

Do charts have memories? Can prices as far back as 45-years ago impact prices today? I understand if you answered both questions with a resounding no.

In my humble opinion, an important test of these questions comes into play at current prices in the S&P 500 at (1).

This chart looks at the S&P 500 on a quarterly basis since the late 1950s, where Fibonacci was applied to the 1974 lows and the 2000 & 2007 highs. The 261% Fibonacci extension level comes into play at (1), which is the 3,900 level in the S&P.

At the same time,...



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Zero Hedge

Here's What NatGas Bulls Are Betting On In The Next Month

Courtesy of ZeroHedge View original post here.

Weather models continue to suggest warmer than average temperatures this month across much of the US from the South to the Northeast. Warmer trends could continue next month, pressuring natural gas prices as demand crumbles. However, natgas bulls are closely watching the Polar Vortex and Madden Julian Oscillation for any shifts. 

Kirk Hinz, meteorologist in charge at US-based ...



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Phil's Favorites

The Stock Market and Crypto Market Are The Ultimate Platform and Game

 

The Stock Market and Crypto Market Are The Ultimate Platform and Game

Courtesy of Howard Lindzon

When I was a kid I played ‘Pong’ and ‘Space Invaders’ and Coleco Football and Mattel ‘Intellivision’.

In college I stopped.

Maybe if there were smartphones and no women, I would still be a ‘gamer’, but my generation was looking up not down.

I found the markets because I needed a first job and I was hooked.

It has been a battle of wits and behavior since. The markets have brought me to panic and fear on many occasions but most...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 11 July 2020, 05:26:16 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: This is lack of liquidity means support is likely to break if it is tested hard!



Date Found: Saturday, 11 July 2020, 09:51:58 PM

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Comment: Nasdaq losing momentum.



Da...

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Politics

What is the 'boogaloo' and who are the rioters who stormed the Capitol? 5 essential reads

 

What is the 'boogaloo' and who are the rioters who stormed the Capitol? 5 essential reads

Rioters mass on the U.S. Capitol steps on Jan. 6. Samuel Corum/Getty Images

Courtesy of Jeff Inglis, The Conversation

In the wake of the insurrection on Jan. 6, the U.S. is bracing for the possibility of additional violent demonstrations and potential riots at the U.S. Capitol and state capitol buildings around the nation. W...



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Biotech/COVID-19

The simple reason West Virginia leads the nation in vaccinating nursing home residents

 

The simple reason West Virginia leads the nation in vaccinating nursing home residents

By mid-January, only about a quarter of the COVID-19 vaccines distributed for U.S. nursing homes through the federal program had reached people’s arms. Paul Bersebach/MediaNews Group/Orange County Register via Getty Images

Courtesy of Tinglong Dai, Johns Hopkins University School of Nursing

The urgency of vaccinating nursing home residents is evident in the numbers. The COVID-19 pandemic has claimed the lives of mo...



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Mapping The Market

The Countries With The Most COVID-19 Cases

 

The Countries With The Most COVID-19 Cases

By Martin Armstrong, Statista, Jan 12, 2021

This regularly updated infographic keeps track of the countries with the most confirmed Covid-19 cases. The United States is still at the top of the list, with a total now exceeding the 22 million mark, according to Johns Hopkins University figures. The total global figure is now over 85 million, while there have been more than 1.9 million deaths.

You will find more infographics at ...



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Digital Currencies

Bitcoin: why the price has exploded - and where it goes from here

 

Bitcoin: why the price has exploded – and where it goes from here

B is for blast-off (but also bubble). 3DJustincase

Courtesy of Andrew Urquhart, University of Reading

Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary, including US-China tensions, Brexit and, of course, an international pandemic. From a year-low on the daily charts of US$4,748 (£3,490) in the middle of March as pandemic fears took hold, bitcoin rose to ju...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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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. Contact Ilene to learn about our affiliate and content sharing programs.