I have posted this before but it needs to be re-posted and watched more than once because it exposes blatant hypocrisy. Why this is not a Republican ad for all candidates I do not understand.
Click on link below to watch: https://www.youtube.com/watch?v=uB8dOa3X7MU
And:
I am not sure I totally agree with Wayne Root but I share much of what he has written. I do not believe Trump is insane. He probably has an attention span that does not totally suit/buttress his being president. I am not sure his tweets are as effective as Root suggests but the basic thrust of what Root has written I find generally compelling. I also believe Trump's boorishness is something that causes me to wince at times but we Americans are who we are and though I love the French who were gracious to me and my family when we lived in their country (while I was in service) and I enjoy their food, love their language I have nothing but contempt for the way they have treated Jews and surrendered to their enemies.
It is one thing to love life and enjoy leisure and comforts but it is another to do so at the cost of other critical values.
You decide. (See 1 below.)
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Ross returns and is back to ranting. (See 2 below.)
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This is the third phased final review of Mona Charen's: "Sex Matters."
She begins with chapter 6 entitled: "Family" but it is the following chapter ,entitled :Having It All," that summarizes her conclusion.
Chasen goes into enormous detail in both chapters in support of why a two parent family is essential. She refers to statistic after statistic supporting her conclusion that children need that other parent and that a two parent family is what "keeps the foundation of our country strong."
Furthermore, her view of a government solution helping the single parent family parallels my own as well, "... because government is better at creating problem than solving them..." Charen prefers civil society entities, ie. churches, synagogues charities, non-profits etc, are preferable to government.
Though she swallowed hard she also praised president Obama for making speeches in support of children needing fathers and being clear about his being a good father to his two daughters as being essential.
In the final analysis, statistics support overwhelmingly the fact that women who are married, remain married are happier even when divorce was considered because at some point in their marriage they were unhappy. As for the children of even difficult marriages, statistics support the fact these children, by and large and regardless of socio-economic levels, have greater stability, are less prone to have a police record, take drugs and they also do better in school.
As noted in an earlier partial review the black father was the first to leave but eventually white fathers have departed the family at about the same rate. Charen refers to the Moynihan Report, "... which was a deeply humane and sensitive examination of the plight of African Americans."
In conclusion, feminists, according to Charen, have been wrong about marriage because family is not just love. Family is a commitment, it is a duty and means assuming responsibility and keeping promises. These are valuable lessons which Charen believes feminists missed and/or downplayed to the detriment of women in general and our nation as a whole.
In freeing women to become equalized the price many have paid, the cost to our nation more than erased, both the real and assumed,benefits.
I have not read a lot of books on Feminism but I fully support Charen's views/conclusions and would urge Feminists among us and who read my memos read "Sex Matters," because it might offer you insights and answers that could brighten your own lives.
I went through a divorce and two of my children came to live with Lynn and myself and I hope we re-established the love, security stability temporarily lost because of the divorce. That they paid a high price cannot be denied. My third daughter chose to remain with her mother for reasons that were her own and there is nothing I can do to reconstruct that circumstance.
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Dick
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1)The following article by Wayne Allen Root…
I have breaking news for you … Donald Trump’s tweets are not a mistake. This isn’t insanity. He’s not nuts. He’s not stupid. Actually, he’s a genius.
Trump is the Picasso of tweets. Monet meets Beethoven. The Saul Alinsky of conservatives and capitalists. Trump is first politician from the right to figure out how to stop the radical left. By driving them crazy.
Trump has destroyed the left with tweets. Just look at them in disarray. From Kathy Griffin, to Jeff Tucker of CNN, to Bernie Sanders, to Megyn Kelly — liberals lay in smoldering ruins.
Branch Rickey once said, “Luck is the residue of design.” Maybe it’s time for liberals to admit that Trump’s crazy tweets aren’t so crazy after all. They are purposeful. He’s driving liberals nuts with rage, while distracting them so they don’t even see what’s happening.
Sure Trump’s tweets turn off lots of Democrats. Who cares?
Sure he turns off the media. Who cares?
Sure he turns off plenty of young people who never vote. Who cares?
Sure he turns off the people walking along Venice Beach or Melrose Avenue in Los Angeles. Who cares?
None of these people was ever voting for him in the first place. Many of them don’t vote at all.
Liberals claim Trump is mentally ill. But he’s just much smarter than they are. He’s playing at a different level.
Trump is doing “The Art of the Deal.” For Trump, it’s about winning. How he wins is immaterial. He doesn’t mind shocking, outraging, offending or even embarrassing himself. He is using guerrilla warfare to beat the left. Trump is deflecting and distracting his critics and enemies while he passes his entire agenda.
While Trump is busy tweeting, offending, enraging and infuriating, he is quietly — behind scenes — fundamentally changing America. Or haven’t you noticed?
Trump is erasing Obama like he never existed. Trump is demolishing the socialist dreams of Obama and Sanders and Hillary and Valerie Jarrett … and their radical Marxist mentor Saul Alinsky.
Trump is destroying the Democrat Party — pushing it so far to the left it will have no chance in 2020. Trump is destroying the media. Trump will keep his job far longer than CNN President Jeff Zucker. Wanna bet?
Trump has destroyed Kathy Griffin’s career. The only head she cut off was her own. Trump has destroyed Megyn Kelly’s career. Advertisements for personal injury lawyers have higher ratings than Kelly’s new show.
Bernie Sanders’s wife is under investigation for fraud. The careers of former FBI director James Comey and acting FBI Director Andrew McCabe are in tatters. McCabe is under three separate criminal investigations.
A little birdie in government tells me Hillary Clinton and the entire Clinton Foundation will soon be under Federal indictment.
There’s no more funding of liberal causes by Department of Justice lawsuits. The National Labor Relations Board is becoming pro business. There’s no more political persecutions of conservatives by the IRS, DOJ or FBI. Border crossings are down by 50 percent to 70 percent (depending on which stat you believe).
Trump’s going after welfare for illegals. Trump’s going after voter fraud by illegals. The travel ban is in effect. The number of Muslim refugees let into America is being cut dramatically.
Soon, one way or another, there will be no more Obama care.
Soon, there will be no more high Obama taxes.
Soon, construction of a wall will begin.
Soon, Trump will get to name a second, and then a third, and maybe even a fourth U.S. Supreme Court justice. Trump’s Supreme Court will turn America red for the next 40 years.
Liberals are toast. Obama is erased. Hillary will be tied up in court for years to come. Israel is our best friend again. The police and military are beloved and respected again.
All is well in my world. How about yours?
Trump has outwitted the left.
Trump is an artist.
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2) I am back from hiking and touring in Tetons and Yellowstone. If you have never been there, put it near the top of the bucket list. In Tetons stay at Jenny Lake Lodge and Jackson Lake Lodge, in Yellowstone the food is bad to terrible so eat sandwiches etc from the general store. Make sure to carry bear spry when hiking. Go Labor day week. There is almost nobody there.
Emerging market economies are in serious trouble, and it may get worse. As the US dollar strengthens, and as the Chinese economy slows, it is the worst of all possible for these countries. Too much of their private and public debt is US dollar based as their currencies fall, meaning they can’t pay their loans. China is the biggest commodity buyer from them, so as its economy slows, commodities fall in price. It is hard to know yet if the emerging market problems will morph into a world economy problem, but it is not good. Compounding the problems for several of these countries is the massive debt they have incurred to Chinese banks for the Silk Road infrastructure projects that China has pushed on them. That is a major burden that is just starting to fester into a potential crisis for them and China. It is doubtful any major US banks have a lot of exposure here is things go bad. Issuance of US $ based bonds for developing countries is now impeded, making raising of debt much more difficult.
Q3 is continuing very strong, and is likely to come in at 4%, or better. Wage growth, at 2.9%, combined with tax cuts, increased home and 401K values, has generated record high consumer confidence, which is propelling the continued growth. These should continue into at least early, and possibly late next year, unless the Dems win in Nov and start impeachment and other very disruptive acts that cause business and consumers to pull back due to uncertainty it will create, which is a very real risk. The Republicans should sweep based on the economy, but Trump seems oblivious to the damage he is doing with his tweets and comments, and attacks on people and countries. If he would shut up and just talk about all of the really good things he has done, which are many, Republicans would hold the House, but now I am not so sure. The Dems have no policies other than eliminate ICE, raise taxes, return to massive regulation, impeach Trump, and spend massively more. Nothing they promote is good for economic growth, and in fact, would all be terrible. Keep your finger on the sell button come November. The market may take a real hit , although most in Wall St seem to be ignoring this risk. TBD.
The Dems disgraced themselves, the Senate, and the country in the Kavanaugh hearings. Booker, Harris, Blumenthal, all made disgusting fools of themselves, and made the process, which should of the highest caliber, into an embarrassing circus. Then they wonder why nobody has any respect for DC politicians. They are worse than Trump when it comes to the antics, and exaggerated statements. Kavanaugh destroyed them with his brains, knowledge of law, and cool temperament. He will be confirmed, and the country will be better for it. Next up is Ginsberg one of these days. Nike followed on with the Kaepernick disgrace. I added Nike to my NFL boycott.
Italy continues to be a potential serious problem for the EU. We need to watch that situation carefully as it is just in the early stages of a potentially bigger mess. The new government is unsure of itself, which just creates more uncertainty. That could do serious hurt to the EU. It would not take much to push Italy into recession and bank defaults. The EU is trying to prevent this, but the anti-EU new government has its own ideas on budgets, so it is not yet clear where this goes, but it is one more real reason not to invest in EU stocks. Brexit deadlines are quickly approaching, and a hard Brexit remains a real possibility, but not probable in the end. The UK will be fine either way, but it will create real issues in the EU if the UK comes out well in a hard break. Other countries might start to think about more independence. The massive swing to the right in the EU created by Merkel forcing the refugee acceptance, is a major game changer for the EU. And the Dems want open borders and no ICE. Just look across the pond to see the result. Even Sweden nearly went right.
Canada will come to terms on trade, as will the EU, but it is not helpful when Trump makes nasty public comments about Canada and Trudeau. He has backed Trudeau into a political corner publicly, and that will make getting to a deal much harder. Canada is wrong with its protectionist tariffs and rules on dairy and soft lumber, but then they think they can dump lumber and steel on us. How that gets resolved with Trump bashing them publicly is not going to be simple. They have said they will give something on dairy, but we do not know what that means, and dispute resolution is now the major issue. The EU is resisting, but that will get resolved. Navarro is not helpful, and is not well thought of by most sophisticated economists and people in that sphere. He is the main stumbling block to getting these trade deals done. We are in a trade war with China, and that one is not Trump’s fault. China has broken every rule, yet denies any of it. They believe they can beat Trump by waiting, and all the Trump bashing in the US press, just encourages them to hold out. Trump needs to get the EU and others on board to get China to cave, but it is not clear when he can do that. What we are seeing in these trade battles is Trump thinking it is a NY real estate deal where he bullied the other guy and lenders, but that did not work well for him. That is how many in NY real estate function, but it does not always work in world politics on these type issues, where sometimes behind the curtain deals are needed so leaders can lie or misstate to their people about what was really agreed.
It is going to be a long fight with China, and N Korea is not going to get resolved until there is a deal on trade. China is cheating on sanctions, like they cheat on everything, so it is going to be long and ugly, but the Chinese economy has real problems now, and big tariffs will be a problem for them.
It is 10 years since Lehman. Many things have changed for the better. Some regulation needs to be undone as it is hobbling liquidity in markets by keeping the big banks out of proprietary, and some other trading. Wall St is a totally different world than 10 years ago. Back then it was big swinging ones who pushed the envelope of risk, and just did not care. The problem was mortgage backed securities were designed to shift all the risk to CMBS mortgage bond holders. It worked great. The institutional bond buyers were inexperienced young idiots. It was a travesty for banks to pay huge fines, when the real problem was the bond buyers were happy to go to strip clubs and get laid courtesy of the Wall St traders, then the next day they bought millions in bonds. For those who do not know, I was the creator of hotel CMBS in 1993, and in November 1993, one of the bankers at Nomura with whom I was working, and I discussed that it would all end in a major crash and close down of some Wall St firms. All of us who were older and experienced knew exactly what we were doing, and how it would end very badly, but the profits and bonuses were huge, so nobody was going to call it out publicly. By early 2007, lots of us senior bankers knew the end was very near, and there would be a crash within a year. We talked about it openly on panels at industry conferences. How the Fed and regulators did not get it is an ongoing mystery to me. It was why I was able to sell completely out of the stock market in one day in May 2007. It was obvious what was happening. However, today the banks are vastly safer with far more required capital and other rules, so the current risk situation is not worrisome right now. Back then, 52% of home mortgages were issued by banks. Today it is 9%. That does raise risk issues in that the non-bank mortgage market is not regulated, so stupid things will happen again at some point. The question is will the next generation of CMBC and RMBS bond buyers be stupid again- likely yes.
The S&P is up around 8.5% YTD, bonds are negative, hedge funds on average barely positive. One leading fund is down 25%. The hedgies stopped claiming they outperform, since they have lagged for 6 years badly, so now their pitch is -we lose less in a crash. Great, it says, we lose less of your money than other people do in a bear market. I lost even less by selling out when I saw the crash was coming. A study I saw shows that 80% of all hedge funds underperform the market, and of the heroes, they often are one trick ponies.
Emerging market economies are in serious trouble, and it may get worse. As the US dollar strengthens, and as the Chinese economy slows, it is the worst of all possible for these countries. Too much of their private and public debt is US dollar based as their currencies fall, meaning they can’t pay their loans. China is the biggest commodity buyer from them, so as its economy slows, commodities fall in price. It is hard to know yet if the emerging market problems will morph into a world economy problem, but it is not good. Compounding the problems for several of these countries is the massive debt they have incurred to Chinese banks for the Silk Road infrastructure projects that China has pushed on them. That is a major burden that is just starting to fester into a potential crisis for them and China. It is doubtful any major US banks have a lot of exposure here is things go bad. Issuance of US $ based bonds for developing countries is now impeded, making raising of debt much more difficult.
Q3 is continuing very strong, and is likely to come in at 4%, or better. Wage growth, at 2.9%, combined with tax cuts, increased home and 401K values, has generated record high consumer confidence, which is propelling the continued growth. These should continue into at least early, and possibly late next year, unless the Dems win in Nov and start impeachment and other very disruptive acts that cause business and consumers to pull back due to uncertainty it will create, which is a very real risk. The Republicans should sweep based on the economy, but Trump seems oblivious to the damage he is doing with his tweets and comments, and attacks on people and countries. If he would shut up and just talk about all of the really good things he has done, which are many, Republicans would hold the House, but now I am not so sure. The Dems have no policies other than eliminate ICE, raise taxes, return to massive regulation, impeach Trump, and spend massively more. Nothing they promote is good for economic growth, and in fact, would all be terrible. Keep your finger on the sell button come November. The market may take a real hit , although most in Wall St seem to be ignoring this risk. TBD.
The Dems disgraced themselves, the Senate, and the country in the Kavanaugh hearings. Booker, Harris, Blumenthal, all made disgusting fools of themselves, and made the process, which should of the highest caliber, into an embarrassing circus. Then they wonder why nobody has any respect for DC politicians. They are worse than Trump when it comes to the antics, and exaggerated statements. Kavanaugh destroyed them with his brains, knowledge of law, and cool temperament. He will be confirmed, and the country will be better for it. Next up is Ginsberg one of these days. Nike followed on with the Kaepernick disgrace. I added Nike to my NFL boycott.
Italy continues to be a potential serious problem for the EU. We need to watch that situation carefully as it is just in the early stages of a potentially bigger mess. The new government is unsure of itself, which just creates more uncertainty. That could do serious hurt to the EU. It would not take much to push Italy into recession and bank defaults. The EU is trying to prevent this, but the anti-EU new government has its own ideas on budgets, so it is not yet clear where this goes, but it is one more real reason not to invest in EU stocks. Brexit deadlines are quickly approaching, and a hard Brexit remains a real possibility, but not probable in the end. The UK will be fine either way, but it will create real issues in the EU if the UK comes out well in a hard break. Other countries might start to think about more independence. The massive swing to the right in the EU created by Merkel forcing the refugee acceptance, is a major game changer for the EU. And the Dems want open borders and no ICE. Just look across the pond to see the result. Even Sweden nearly went right.
Canada will come to terms on trade, as will the EU, but it is not helpful when Trump makes nasty public comments about Canada and Trudeau. He has backed Trudeau into a political corner publicly, and that will make getting to a deal much harder. Canada is wrong with its protectionist tariffs and rules on dairy and soft lumber, but then they think they can dump lumber and steel on us. How that gets resolved with Trump bashing them publicly is not going to be simple. They have said they will give something on dairy, but we do not know what that means, and dispute resolution is now the major issue. The EU is resisting, but that will get resolved. Navarro is not helpful, and is not well thought of by most sophisticated economists and people in that sphere. He is the main stumbling block to getting these trade deals done. We are in a trade war with China, and that one is not Trump’s fault. China has broken every rule, yet denies any of it. They believe they can beat Trump by waiting, and all the Trump bashing in the US press, just encourages them to hold out. Trump needs to get the EU and others on board to get China to cave, but it is not clear when he can do that. What we are seeing in these trade battles is Trump thinking it is a NY real estate deal where he bullied the other guy and lenders, but that did not work well for him. That is how many in NY real estate function, but it does not always work in world politics on these type issues, where sometimes behind the curtain deals are needed so leaders can lie or misstate to their people about what was really agreed.
It is going to be a long fight with China, and N Korea is not going to get resolved until there is a deal on trade. China is cheating on sanctions, like they cheat on everything, so it is going to be long and ugly, but the Chinese economy has real problems now, and big tariffs will be a problem for them.
It is 10 years since Lehman. Many things have changed for the better. Some regulation needs to be undone as it is hobbling liquidity in markets by keeping the big banks out of proprietary, and some other trading. Wall St is a totally different world than 10 years ago. Back then it was big swinging ones who pushed the envelope of risk, and just did not care. The problem was mortgage backed securities were designed to shift all the risk to CMBS mortgage bond holders. It worked great. The institutional bond buyers were inexperienced young idiots. It was a travesty for banks to pay huge fines, when the real problem was the bond buyers were happy to go to strip clubs and get laid courtesy of the Wall St traders, then the next day they bought millions in bonds. For those who do not know, I was the creator of hotel CMBS in 1993, and in November 1993, one of the bankers at Nomura with whom I was working, and I discussed that it would all end in a major crash and close down of some Wall St firms. All of us who were older and experienced knew exactly what we were doing, and how it would end very badly, but the profits and bonuses were huge, so nobody was going to call it out publicly. By early 2007, lots of us senior bankers knew the end was very near, and there would be a crash within a year. We talked about it openly on panels at industry conferences. How the Fed and regulators did not get it is an ongoing mystery to me. It was why I was able to sell completely out of the stock market in one day in May 2007. It was obvious what was happening. However, today the banks are vastly safer with far more required capital and other rules, so the current risk situation is not worrisome right now. Back then, 52% of home mortgages were issued by banks. Today it is 9%. That does raise risk issues in that the non-bank mortgage market is not regulated, so stupid things will happen again at some point. The question is will the next generation of CMBC and RMBS bond buyers be stupid again- likely yes.
The S&P is up around 8.5% YTD, bonds are negative, hedge funds on average barely positive. One leading fund is down 25%. The hedgies stopped claiming they outperform, since they have lagged for 6 years badly, so now their pitch is -we lose less in a crash. Great, it says, we lose less of your money than other people do in a bear market. I lost even less by selling out when I saw the crash was coming. A study I saw shows that 80% of all hedge funds underperform the market, and of the heroes, they often are one trick ponies.
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