Sunday, March 7, 2021

Have We Crossed Rand's Line? Can Democrats Even Tolerate Themselves? Would Pompeo-Manchin Ticket Unite America? Ross Rants.




















America has already crossed the line!

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Can Democrats even tolerate their own? Stay tuned:


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Pompeo responds and would make a great president. Maybe a Pompeo -Manchin Ticket is what we need to unite our nation.:

Biden Is 'Undoing Trump's Central Thesis' | Mike Pompeo


And:

Biden Administration First to Invite Rejected Asylum-Seekers to Reapply: Texas Sheriff

BY MELANIE SUN AND CHARLOTTE CUTHBERTSON

biggersmA sheriff in Texas is voicing concern that Americans will have to “pay a price” for the total chaos unfolding at the southern border.

“This is the first time in U.S. history where the federal government has gone back on rejected asylee applicants, in the last year or so, and they’re reaching out to them to bring them back into the United States,” Sheriff A.J. Louderback told The Epoch Times of President Joe Biden’s immigration policies.

He said that Biden’s reforms have seen U.S. government employees contact asylum-seekers rejected during the Trump administration and encourage them to reapply for asylee status under the Biden administration.

The five-term sheriff from Jackson County added that the Biden administration has basically “dismantled every piece of the Immigration Naturalization Act,” meaning that any individual from any country is being “invited” to enter into the United States, “whether you’re seeking asylum or not.”

Jackson County is directly affected by human smuggling activity through the Rio Grande Valley—the busiest corridor on the southwest U.S. border for illegal crossings.

“The Trump administration simply said, ‘No, we’re going to do Migrant Protection Protocols … and we’re going to do the asylum process but you’re going to have to stay in another country, and then make application into the U.S. and then be brought in into an orderly fashion,’” the sheriff explained of the previous administration’s immigration guidelines.

Under President Donald Trump’s Migrant Protection Protocols, asylum-seekers were housed in Mexico while awaiting the court’s decision on their application. But Biden recently banned all deportations, and immigrants are now seen offering themselves to Border Patrol agents so they can be processed, given notice to appear documents, and allowed into the United States without any testing for COVID-19 or need for vaccinations—which Louderback characterizes as “absolute hypocrisy.”

The sheriff said that he had heard from Border Patrol agents working the Rio Grande Valley sector that in the past three weeks, they’ve seen around 1,000 people a day crossing into the United States.

“Where are they going to go?” he asked.

He then warned the American public that they haven’t been told the truth about the wide-ranging impacts that such a flow of illegal immigrants has on the communities they pass through and settle in.

He noted that the flow of people brings money and power that enriches cartels that claim territory (plazas) adjacent to the border, through which their coyotes can charge passage. Such cartels are also known to smuggle narcotics and weapons across the border.

“If you want access to the border through the plazas, you will pay what’s called a peso to the Gulf Cartel in this area, and that peso averages at a low of about $250 per person. So [at] 1,000 [people crossing] a day, you’re looking at a quarter-million dollars a day coming in and funding the cartel for its future violence, and the future enhancement of all things criminal that go on here in Texas … in the United States,” Louderback said.

Biden’s policies are helping funnel people into this illegal trade, he added.

“We’re allowing the cartels to fund themselves, enrich themselves at the cost of these people.”

Many of the new arrivals have no contacts in the United States and end up receiving help from a Catholic charity organization that arranges contacts and travel for them throughout the United States. But a lack of community ties leaves the aliens vulnerable to slavery and criminality, Louderback said.

“You know, in a likely situation where you have a mass of people who come into a community, fresh and new, not knowing anybody or knowing very few people, what’s going to happen with them? Many of them are going to be indentured to the cartel.

“So we’re bringing in people here wholesale into this country and clearly, we’ve delivered a message to the world that our borders are open today. And Texans will pay a price; Americans will pay a price for that.”

“Having a secure border defines us as a country,” the sheriff said. “I think people need to pay attention to that.”

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Ross Rants:


 

It now seems that my math on vaccine shots is going to play out as predicted. By late May we will be back to open, with many like TX, FL, and MS and 10 other states already there. CT has also now fully opened, so I guess the Dem governor is also a Neanderthal. Still teachers are claiming they alone need shots before cops, firemen, store clerks etc., none of whom missed a day of work. Checkout clerks in super markets were exposed to everyone constantly, but teachers refused to be around kids in totally safe settings when there was nil proven risk.

 

The US economy will be booming again despite the employment numbers from February. This just reemphasizes that keeping schools closed was a horrendous problem for poor and minority kids and their parents. This is the worst result of the pandemic, and one which we will never be able to rectify.  We lost a whole generation of kids who will never catch up. Kid suicides were up noticeably. You never see those numbers on TV. The teachers will never put in the extra time and effort to help the kids catch up, and now we will have real inequality of educational opportunity between private and charter school kids, and public school poor kids.  Then they will try to say we need more spending to help the poor who do not have the skills to get the good paying jobs. You can write the script.

 

The jobs report of 465,000 new private sector jobs, 379,000 overall jobs, and 6.2% unemployment further shows that we do not need a major new Congressional give away. The $1.9 trillion will likely cause more unemployment, not less, due to the excessive subsidy payments. If  Biden would leave everything alone, we could have 1 million new jobs a month  by May. There needs to be help for hospitality and restaurant workers and owners, and some extension of unemployment supplements at maybe $200 a week, but that is all. It shows the false claims of Biden and Pelosi and Schumer. The decline in construction employment is mainly due to weather problems in February.  Those jobs will be back in March with many more. The stock market will take off from here as it did on Friday.

 

Some in the press claim research shows that paying $400 a week extra does not keep people from going back to work. That is utter BS. At least they lowered it to $300 which is still too much. They are going to pay lower income people $1400 a person, plus child subsidies, plus food stamps, and free health care, and it is all tax free vs going to work for less gross which would be all taxable. How can anyone say handing someone all that tax free money does not keep people from working. Passing the $1.9 trillion cannot be explained as needed to save the economy. The jobs report just emphasizes the fact that if the teachers went back and if CA, NY and IL reopened, we would have a far better jobs report and unemployment would be under 5%. Biden showed he has no clue what is going on when he called TX Neanderthal, only to have the Dem governor of CT follow TX.. He was claiming we would have a recession if there was no $1.9 trillion. Instead we may have 10% growth in Q2, and 7% for the year. It is a grotesque lie that we need this $1.9 Trillion, or that it has much to do with Covid.

 

Employers will try to find ways for the next year to limit staff so they can rebuild their cash balances to move ahead.  Automation will thrive if it saves labor and cuts costs, and the unskilled will suffer even more. The teachers unions have done terrible damage to the low income kids, and to the country, and Biden and the Dems did nothing to mitigate that. So what is the response-$1.9 trillion of wasteful spending they are rushing through before many realize we don’t need anything other than schools and business reopened. I don’t understand how Manchin can vote for any of this. I have heard interviews with top Dems trying to rationalize the $1.9 trillion, and it is pathetic. Goolsby tried to say we need all this just in case there is a resurgence of the virus despite the fact that we will have most people vaccinated by end of May.

 

So what does money for the arts, or all sorts of other waste have to do with the virus.  He had no answer. Debbie Dingell was no better. I can’t understand how the moderate Dems can justify this to their constituents next election. The voters will mostly see none of the wasted money, but the Dems expect voters will be  bought off with the $1400 plus the child subsidy, plus the $300 unemployment subsidy. The mainstream media seems to not care to highlight this outrageous spending.

 

M2 has always been a major concern, and Milton Friedman made a big issue of it. Too much M2, and we get inflation over time, and bubbles in assets. M2 is up 25% in a year. Unprecedented. Powell recently dismissed M2 as not a concern. That gives me great concern. It goes along with Schumer saying with MMT we don’t have to be concerned with federal deficits. All of this bodes really badly for the future when it all comes back to become a crisis in 2022 or 2023.

 

The presentation Powell gave this week was a disaster. He has locked himself into current policy which is behind what is really happening. His comments that inflation is transitory makes no sense to me, nor to many others. It is already happening, and before the states reopen fully. As the economy opens around the world, and as Biden shuts down oil production here, energy costs will rise even further, transport costs and production costs rise, demand increases dramatically and drives up prices as demand outstrips manufacturers ability to meet the demand, which is already happening. Powell has boxed himself in, and so when he is forced to move it will be earlier than what he is predicting, the market will react very badly.

 

The Fed has a real dilemma that is very concerning. Federal debt and corporate debt is now so high that if there is a material rise in rates, there will be bankruptcies, and the fed will have a major issue- do they try to control the yield curve at the long end. If they do not, and inflation starts to be an issue, then rates rise and we then have economic issues. If they try to control the long end, then the bond market becomes disrupted, and at some point pressures will build that maybe they cannot control. With the massive spending that Biden/Pelosi wants, M2 increases from its already excessively high level, and that breeds more inflation, which then the Fed will try to control with higher rates. Higher rates as mentioned above leads to over levered companies going into default and economic slowdown. Right now with rates at ultra- low levels, PE ratios are at a too high level, and speculation is excessive.

 

 If we get inflation and high rates then the PE multiples fall, and we can get a major correction which has the potential to be very bad as we get the combo of falling PE plus falling earnings. That would be ugly. That is why Schumer saying that MMT means there is no reason to worry about deficits, and Powell saying M2 is not a major problem could combine over time to become a financial crisis as they are proved wrong. I still expect that the Fed will do its best to keep the ten year around 1.5% for a few months. You need to keep perspective.  The ten year is normally around 4%-8%, and in 2019 it ranged from 2.7% to 1.8%. In mid-Feb 2020 it was right where it is today. In October 2018 it was 3.2%. In the sixties it ranged around 4%-6% and the seventies 6.5%-9% with much of the time around 7.8%+-.From 1962-1965 it sat around 4%.  1.5% is still historically ultra-low. Wall St is way over reacting to a tiny bump up. Even at 3% it is very low historically. Remember when you got an 8% home mortgage and thought it was a great rate.  

 

Watch the SPACs.  The index of SPACs is already down around 15%. As always happens in Wall St, something starts as a cool idea, and then everyone jumps on, and the early profits become no, or nil profits. That is exactly what I witnessed in the CMBS market that began as a huge profit generator in the early nineties with 10 point spreads, and by 2007 was down to nil profits of 1% or 2%. There are 370 SPACs now, and many are still chasing their needed deal with time running out. So they are forced to overpay for mediocre companies just to have a company in the SPAC. I reiterate my warning- don’t go chasing SPAC s as a place to invest just because it is a SPAC. A few will do well, but many will not. It is like Bitcoin in some ways. Various people with an agenda, their own position in Bitcoin, claim it will go to $100,000 or even $1 million. Bitcoin at the end of the day is magic money. It has no substance, and is just a speculators game.

 

The big rotation out of tech seems to be happening, but keep in mind, the big tech companies like MSFT, APPL, ADBE, AMZN etc are very cash rich, and have highly demanded products. They are also well  run. They will continue to generate huge profits for a long time.  They are not Facebook, Twitter or Google that will face huge legal risks for several years. While there will be legal issues for them, especially from the EU, they are not social media companies, and they do not have the same privacy issues, so they will not be at real legal risk. If you are a long term investor, vs a trader, these tech companies will continue to generate huge profit growth and over time their stocks will appreciate well. Just needs patience. These are now stocks to  put away, or put into a kid’s trust and just watch them over the years.  

         

Biden rejoined WHO day one just because Trump cut them off demanding reform.. It is now been shown by a group of international top scientists from several countries that the new WHO investigation of Covid was a new coverup directed by the Chinese, and WHO is again complicit in a total cover up. Biden just rejoined and did zero to demand leadership changes and reforms.  Stupid. Dangerous for the whole world. Covid came from the lab, but WHO denies that because the Chinese covered it up again.  

 

Jared is the one who is primarily responsible for the Abraham accords. He, as a result, has maintained a close relationship with the Prince and the Saudis are who are now the main source of Kushner company capital needs. Jared has not yet rejoined the company full time, but he runs the relationship with the Saudis. It will be interesting to see how the whole Biden relationship with the Saudis plays out. Jared may be the only way it can be held together for the US.

 

They continue to hide Joe.  He really  is just an avatar. He has not held any news conference since elected, and Psaki is terrible. They did not even let him take questions from Dem Congressmen this week. When he offered, they cut the Zoom feed. Pelosi is really controlling the Biden on off switch. It is clear that when he does not have a script and teleprompter, they do not let him out of the box. Pelosi seems to be the one running policy and getting a myriad of bills passed in the House that are all the radical agenda. They are rushing all sorts of things through the House to try to get them done before the voters realize what has happened, and before the economy is fully reopened in May.

 

But they do nothing for the real problem which is getting the union to reopen schools. They pass things that are historic with little revelation of what is in them, just like they did with Obamacare. It is the exact same strategy-muddle the facts and just get the Dems to vote for it. Trump is responsible for what is happening in that he caused the loss in GA by his rhetoric and proposing the $2000 that the Dems then adopted. Losing GA will change America in terrible ways that will take until there is Republican control to correct. Joe Manchin is all that stands between total disaster and the filibuster to save the day. Trump may have won the straw poll at CPAC, but not by much, and it is not indicative of his real standing with all Republicans. He will not be the nominee in 2024 although I suspect he may try.

 

Cuomo will likely survive his term, but not for sure. The press now has a big problem since they made him the hero, and gave him an Emmy and a book contract, and now three women say he was a bad guy. They touted him as a presidential candidate, and then as AG. It shows what hypocrites the press and Dems are. The press, other than the NY Post, is not pressing the issues. 15,000 old people died in nursing homes or hospitals due to Cuomo, but he only apologizes fake emotion over comments to women. He has done a miserable job of running NY, but that is never discussed in the mainstream media. Wealthy taxpayers are fleeing to FL and the deficit is growing. NY spends two times per capita what FL spends, yet much of the state is not urban, just like parts of FL. The cost of living in NY far exceeds FL. So the media attacks DeSantis because he is succeeding.

 

We are rapidly headed to a massive change in America with the flood of executive orders and the bills Pelosi is passing, and they are just getting started. Were it not for the filibuster we would become a socialist nation within a year. HR1 will never get passed in the Senate, but it would mean a complete control of the country by left wing Dems if passed. The takeover would be complete if passed. By opening the border and then saying all illegals will get a path to citizenship, they assume they will be able to control those people to vote Dem. That is what it is all about. They spent 4 years trying to get rid of Trump who was the only one with the balls to confront them.

 

Now they understand they have just two years to try to consolidate power, with the avatar in the White House being controlled by the left and willing to do as he is told. It all began on university campuses and is now in the White House in a few short years.  If we all do not stop what is happening on campus it will only get worse. Cancelling Dr Seuss is not the last thing to happen, but it should wake up everyone to the comparison to Germany 1936. They don’t burn books, or beat up professors, they just delete the books, delete any person or any speech they don’t like,  and fire the professors. It is no different. Mein Kompf, plus several anti-Semitic books are online and readily still available,  but not Dr Seuss.  If Manchin holds out on the filibuster, and we can just get to 2022 elections, there will be a big reverse back as the suburban moms see what happened to their kids by not having school. 

 

Next Rant will deal with what will be some of the possible changes in life and work due to the virus. Some interesting anecdotal input.

 

I just got my new BMW and tried the automatic parking. Push a button, let go of the wheel and gas pedal,  and the car drives itself to find  a parking space and tells you it is ready to park, push the icon on the screen, and then the car parks itself. It is a perfect parking job.  It is scary at first as you have no control as the car whips perfectly into the space, but after two times, it was clear that it really works. That is where driving is going in a few years. It will be very scary when we all have drive itself cars on the road with other cars and people crossing the street.

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