Posts Tagged ‘congressional cigar association’

TLP: Sometimes a Cigar is Just a Convenient Way to Do Some Political Schmoozing

TLP: Sometimes a Cigar is Just a Convenient Way to Do Some Political Schmoozing

Courtesy of Jr. Deputy Accountant 

cigar lobbyists politics

HuffPo is blowing smoke in the eyes of a congressional networking group that the blog contends is backed by lobbyists, possibly in violation of congressional rules. Tough to get your maduro lit when you poke around like that.

HuffPo:

Lobbyists for major banks, insurers, pharmaceutical firms, energy companies and at least one foreign government have been helping organize lavish gatherings of staffers and members of Congress since early 2009, funneling K Street money through an officially chartered staff organization called the Congressional Cigar Association.

The CCA, founded by Republican staffers and sponsored by Rep. Brian Bilbray (R-Calif.), is chartered by the House Administration Committee to encourage networking among congressional staff. Its most recent gathering was held Tuesday at a townhouse just steps from the Capitol, where staffers were feted by Miami Cigar & Company.

As evening fell, guests lounged in the garden out back, sipping cold drinks and puffing away on what smelled like high-end cigars. Gary Pesh, owner of Old Virginia Tobacco and a member of the Congressional Cigar Association, said the event is just an excuse to "get together and have fun." When asked about the conflict of interest inherent in allowing lobbyists to fund a congressional staff organization, dozens of attendees just continued wordlessly on up the red brick steps. "This is approved by the House, so we’re good," one staffer said. (Another staffer told HuffPost that filming wasn’t allowed, though she was standing under a sign warning passersby that the area was under video surveillance.)

At least half a dozen lobbyists have been closely involved in the operation of the ostensibly staff-driven organization, a review of emails, documents and lobbyist disclosure reports finds. By helping to fund and organize the group’s activities, K Street lobby shops are given privileged access to senior-level staffers and members of Congress in intimate settings where they lobby on behalf of their clients. The association is overwhelmingly Republican, as is the cigar-smoking habit it is organized around.

The cigar group is run by a six-member board. In the wake of the Abramoff scandal, congressional ethics rules were implemented to require that "all officers must be employees of the House or Senate" and that the ethics committee approve all gifts of monetary value offered to the association.


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The Portfolio Gap

 

The Portfolio Gap

Courtesy of 

Dalbar is known for publishing a study on returns from equity funds compared to the returns that investors capture in those same funds. Every year reveals the same message: The average investor, with remarkable consistency, underperforms their own investments, ostensibly by buying and selling at inopportune times.

The methodology behind the study has been under assault for at least the last 15 years. Here is ...



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Zero Hedge

Fiat's Failings, Gold, & Blockchains

Courtesy of ZeroHedge View original post here.

Authored by Alasdair Macloed via GoldMoney.com,

The world stands on the edge of a cyclical downturn, exacerbated by trade tariffs initiated by America. We know what will happen: the major central banks will attempt to inflate their way out of the consequences. And those of us with an elementary grasp of economics should know why the policy will fail.

In addition to the monetary and debt inflation since the Lehman crisis, it is highly likely the ...



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Digital Currencies

Visualizing The New Cryptocurrency Economy

Courtesy of ZeroeHedge

Over a decade ago, the birth of Bitcoin sparked a revolution in the digital world - and just last year, the number of active cryptocurrencies jumped from roughly 1,600 to over 3,000 worldwide.

As Visual Capitalist's Ashley Viens details below, cryptocurrencies have now evolved past simple digital currencies, offering solutions to meet the complex needs of modern financial markets.

Today’s graphic from Abra visualizes the complex, ever-evolving cryptocurrency ecosys...



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Kimble Charting Solutions

Gold Miners Indicator Attempting Multi-Year Breakout, Says Joe Friday

Courtesy of Chris Kimble

Are Gold Mining stocks about to be sent a bullish signal they haven’t received in years? Possible says Joe Friday.

This chart looks at the Senior Miner/Junior miner (GDXJ/GDX) ratio over the past few years. Historically when the ratio is heading up, miners tend to do very well.

The ratio has created a series of lower highs just below the falling line (1), since the summer of 2016. The ratio is currently testing the strong falling resistance line and the June 2019 highs at (2).

Joe Friday Just The Facts Ma’am; If the ratio succeeds in a double breakout at (2), it sends miners a long-awaited bullish message.

...

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Insider Scoop

Scott Galloway Calls For Twitter's Board To Replace 'Part-Time CEO' Jack Dorsey Amid Africa Move Plans

Courtesy of Benzinga

A shareholder in Twitter Inc. (NASDAQ: TWTR) and New York University business professor wrote an open letter Friday to the company's board calling for the replacement of CEO Jack Dorsey.

What To Know

Scott Galloway, who owns more than 330,000 shares of Twitter stock a...



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Lee's Free Thinking

Chart Shows the Fed Ramping Up Not QE - Funding Almost All Treasury Issuance

 

Chart Shows the Fed Ramping Up Not QE – Funding Almost All Treasury Issuance

Courtesy of Lee Adler, Wall Street Examiner 

The Fed is ramping up “Not QE” .

The Fed bought $2.2 billion in notes today in its POMO, “not QE,” operations. Actually $2.15 billion because they sold back a whole $50 million. Must have been a little glitch in the force.

This brings the Fed’s total outright purchases of Treasuries to $170 billion since it started Not QE, on September 17.

It also did $107 billion in gross new repo loans to Primary Dealers to buy Tre...



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Chart School

Silver stock taking the sector higher

Courtesy of Read the Ticker

As the US economy begins to show late cycle characteristics like: GDP slowing, higher inflation, higher wage costs, CEO confidence slump. 

Previous Post: Gold Stocks Review

The big players in the market are looking for the next swing off good value lows. This means more money is finding it way into the gold and silver sector, and it is said gold and silver stocks actually lead the metal prices.

The cycle below shows prices are ready to move in the months ahead (older chart re posted).


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Members' Corner

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

 

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

By Matt Wilstein

Excerpt:

Sacha Baron Cohen accepted the International Leadership Award at the Anti-Defamation League’s Never is Now summit on anti-Semitism and hate Thursday. And the comedian and actor used his keynote speech to single out the one Jewish-American who he believes is doing the most to facilitate “hate and violence” in America: Facebook founder and CEO Mark Zuckerberg.

He began with a joke at the Trump administration’s expense. “Thank you, ADL, for this recognition and your work in fighting racism, hate and bigotry,” Baron Cohen said, according to his prepared...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

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

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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