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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Zero Hedge

Novogratz On Gold & The Fed's Fairy Tale World

Courtesy of ZeroHedge View original post here.

Via Global Macro Monitor,

Great interview with Michael Novogratz, Galaxy Digital founder, CEO, and chairman.  He sounds exactly likey the global macro heads at GMM. 

His money quotes from the July 8th CNBC interview should sound very familiar to our readers.

  • Macro set-up is so...



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Kimble Charting Solutions

Red Hot China Attempting Key Breakout, Says Joe Friday

Courtesy of Chris Kimble

China ETF (FXI) has been “Red Hot” of late? Is it about to run out of steam or will it remain on fire going forward?

This chart of FXI comes from Investors Business Daily and Marketsmith.com. It reflects that FXI is above key long-term moving averages and its RS ratings is moving sharply higher of late.

Line (1) has been support and resistance several times over the past 3-years. The rally of late has FXI ...



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Phil's Favorites

Not Crazy Can Still Be Nuts

 

Not Crazy Can Still Be Nuts

Courtesy of 

For a few years now, people have been comparing the rise of mega cap tech stocks to the late 90s. I think these comparisons are somewhat misguided.

I wrote those words in June 2018, adding “The gains have been extraordinary over the past five years, with Facebook, Apple, Amazon, Microsoft and Google growing from$1.2 trillion to near $4 trillion.”

Fast forward to today and the gains have been extra extraordinary, growing from $4 trillion to $6.5 trillion.

These 5 stocks now...



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The Technical Traders

Retail Traders & Investors Squeezed to Buy High-Risk Assets Again

Courtesy of Technical Traders

Yes, we certainly live in interesting times.  This, the last segment of our multi-part article on the current Q2 and Q3 2020 US and global economic expectations, as well as current data points, referencing very real ongoing concerns, we urge you to continue using common sense to help protect your assets and families from what we believe will be a very volatile end to 2020.  If you missed the first two segments of this research article, please take a moment to review them before continuing.

On May 24th, 2020, we published this ...



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Biotech/COVID-19

When Trump pushed hydroxychloroquine to treat COVID-19, hundreds of thousands of prescriptions followed despite little evidence that it worked

 

When Trump pushed hydroxychloroquine to treat COVID-19, hundreds of thousands of prescriptions followed despite little evidence that it worked

As public figures and some in the media touted hydroxychloroquine, prescriptions skyrocketed. Grace Cary / Moment via Getty Images

Courtesy of Richard L. Kravitz, University of California, Davis

In late March and early April, ...



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ValueWalk

How To Help Employees Thrive, Even When Their Career Goals Are Uncertain

By Ed Mitzen. Originally published at ValueWalk.

These uncertain times filled with racial unrest, a global pandemic, massive unemployment and economic anxiety have caused some people to reevaluate their lives and their priorities. Within that introspection, there are a few potential outcomes, whether it’s reassessing career goals, losing sight of them, or coming to the realization that some workers are happy in their job and do not aspire to a higher position.

Q2 2020 hedge fund letters, conferences and more

Whether a worker likes the road they are on or sees a fork in it approaching, company leaders who want to keep valued...



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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, 14 March 2020, 05:51:16 PM

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Comment: Crash in perspective - its Bad, and not over!



Date Found: Saturday, 14 March 2020, 07:49:29 PM

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Comment: The Blood Bath Has Begun youtu.be/bmC8k1qmM0s



Date Found:...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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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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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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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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