This memo is full of articles which you are welcome to read at your leisure and then you make up your own mind how you feel.
As for myself, I believe what happened was sad, provides hypocrites and Trump Haters the opportunity to vent and pile one and it makes America look, to the outside world, as a nation in turmoil, which we are.
My takes is that we will muddle through but this country is going to experience some very challenging times in the next 2 and 4 years and how it all ends is anyone's guess.
I do not believe Biden is the person to row us through the troubled waters and certainly Kamala is even less so.
I see China on the ascendancy but they too can blow it because what they offer is anti-thetical to man's basic aspirations, ie. to be free., to be secure, to work, to support a family.
As for our own country, I have written, time and again, what I deem are our failings and I think they will only deepen because there are some dangerous trends we face from the likes of the technology billionaires who control our lives and subscribe our freedoms and then there is another entire group that seek to destroy us and they are well financed, dedicated to their mission and like sheep, we don't suspect there are wolves lurking. But then you know I am a pessimist who, lamentably, has been more right than wrong
+++
Never Forget: When the Democrat-Media Complex is freaking out over some atrocious act it’s typically something they’ve condoned for years.
The hypocrisy of liberals is daunting.
Biden professes he wants to heal. If so he is missing an opportunity but acts more like a true heel.
Breaking: Joe Biden Reminds Everyone He’s a Political Coward in Disgusting Speech
Or:
Doubling Down on Division: Joe Biden Uses Capitol Riot to Demonize Trump’s Entire Presidency
On Thursday, incoming President Joe Biden undermined his message of “unity” by demonizing Donald Trump’s entire presidency. He argued...
And:
Apparently the long knives are being drawn in order to impeach Trump again now that Democrats control all three branches: Et Tu Brute!
And:
https://www.thegatewaypundit.
And:
And:
From one of my "objective" sons-in-law who hates Trump and gloats he has fallen like the statutes pulled down by radical protesters. .
https://www.nytimes.com/2021/0
Meanwhile:
Trump Makes Decision on Biden Inauguration - He Will Not Attend
+++
A very dear friend and fellow memo reader succinctly writes the Trump attorneys never fashioned their legal argument(s) as it/they should have been framed.
I would add The SCOTUS should have listened to the lawyers representing Trump, have whatever evidence they had to present given formal judicial scrutiny and then indicate whatever their decision was it was not to be interpreted as setting a new legal precedence but was applicable only for the 2020 election in order to ensure future elections were more credible.
But then what do I know.
"Why do most continue to use the issue of “fraud” in discussions about the election?
There appears to have been little, if any, in the way of fraud. The issue was instead
“unconstitutional”. Several key states used legal (judges) and executive
(governors) groups to alter rules for the elections.The Constitution is clear: Only State
legislatures can write or alter the handling of votes in an election. C------"
+++
More commentary from fellow memo readers:
This from a long and wonderful friend:
"Dear Dick,
by: Marvin L. Covault, Lt Gen US Army, retired
There were several tragic events that took place in Washington DC on Capitol Hill. Most happened on January 6th; an additional tragedy may occur later.
Tragedy number one was the loss of life; one demonstrator shot attempting to breach the Capitol building, one police officer killed by a demonstrator and three died in the Capitol area of “medical emergencies”.
Tragedy number two: It is not an unusual occurrence for a demonstration to take place in Washington. The Capitol Police and Washington Police Department were not prepared for what went down. Better preparation might have saved lives.
Tragedy number three: On January 6th President Trump made an unnecessary speech to thousands of loyalists who assembled from around the country.
This article is NOT a debate about who should be inaugurated on January 20th. It is about a much more serious issue so I would ask my Democrat friends to please read on.
Survey results over the past two months indicate that around 90 million voters believe there was voter fraud during the weeks leading up to and on election day/night. The significance is the magnitude of voters have lost faith in one of our Republic’s most basic rights; free and honest elections. We have a major national crisis of confidence.
Those of you who routinely watch certain networks or read certain newspapers, have been told over and over since 4 November that 1) there was absolutely no fraud or, 2) there was so little fraud that the overall results could not change.
In a previous blog I made the following points: When you tell me, “But it wasn’t enough to make a difference”, that begs the question, are you saying, 1% fraud is OK? Or 5% or 10%? What “standard” of fraudulent activity is tolerable? Others are saying, “But it is not widespread.” Is it OK if it is just in five states? What you are saying is that some cheating is OK and should be overlooked as long as it does not pass some undefined threshold of frequency or quantity. The real answer to “how much fraud is acceptable” is zero.
Reportedly in six “battleground states”, soon after midnight, with Trump in the lead, vote counting was stopped. When counting resumed Biden was way ahead. Don’t 90 million Americans deserve an answer as to why that happened?
Reportedly in Pennsylvania, 1.8 million absentee ballots were sent out and 2.5 million came back. 90 million patriots need to know why.
In Wayne County Michigan, there were more votes counted than registered voters. Why?
Trump lost Wisconsin by 20,565 votes. Four witnesses testified that 100,000 ballots were brought in at 4:30 a.m. and counted without any inspection, all for Biden. Were all four witnesses lying?
An eyewitness testified, “At the Detroit Vote Center vans came in about four in the morning with about 60 boxes of ballots nearly all for Biden”. Shouldn’t someone look into this?
Back to the tragedy count. Tragedy number four: In 2024 when we look back to assess the Biden/Harris administration, potentially their greatest failure will have been that they made a conscious decision in the spring of 2021 to do nothing about the fraudulent 2020 election. By doing nothing, they will have placed the very fabric of our Constitutional Republic in jeopardy.
Can we just sit back and hope the states all get their act together by 2024? No, because hope is not a process.
What then should be done? Immediately after the inauguration, President Biden should select a special prosecutor charged to, within six months, identify the voter/election problems. The objective would NOT be to recount the votes but rather to look under every rock and uncover the fraudulent events that took place in every state. To do so, as a minimum, find the answers to these questions:
One, define the accuracy of voter registration rolls in every state.
Two, did massive mail-in balloting provide greater opportunities for voter fraud?
Three, does ballot harvesting provide greater opportunities for voter fraud?
Four, was there evidence of ballot stuffing? Ballot stuffing is casting illegal votes or submitting more than one ballot per voter.
Five, was there voter registration fraud? That is, filling out and submitting a voter registration card for a fictional person, or filling out a voter registration card with the name of a real person but without that person's consent and forging his or her signature on the card.
Six, was there voter impersonation? Persons claims to be someone else when casting a vote.
Seven, was there fraud by election officials? For example, manipulation of ballots, such as tossing out ballots or casting ballots in voters' names.
Eight, was there absentee ballot voter fraud? It is fraud for a person to fill out and turn in an absentee ballot containing false information.
Nine, did state officials, in the days/weeks just before 3 November, illegally change voter-related laws, rules, and/or regulations that are, in fact, the constitutionally-based purview of the state legislature?
Finally, the Special Prosecutor must provide recommendations as to how to fix the problems. Turning over every dirty rock will be a load of work. But fortunately, there is a simple fix to all of these fraudulent activities. All we need is for every voter to have a personal Voter ID Card.
Another card? Yes, this is 2021, we all have multiple cards and will get more. For example, this year we will be required to have a new/special “REAL” ID card to get on an airline flight. Furthermore, I am certain that about 99.99 % of eligible voters have a driver’s license. If you have a driver’s license you can just as easily have a Voter ID Card. The Voter ID Card will come in to play and make it nearly impossible to participate in the fraudulent activities listed above.
To jog your memories on Voter ID Cards, see my blog on 10 December 2020, EVERY CITIZEN SHOULD HAVE A VOTER ID CARD.
Conclusions:
While elections laws and directives are primarily a states-rights issue, I believe a Special Prosecutor will find extensive violations. Can we fix election fraud with a 2 or 3-page Federal Law? Yes. Although the Elections Clause of the Constitution makes states primarily responsible for regulating national elections, it vests ultimate power in Congress. Congress may pass federal laws regulating national elections that automatically displace/preempt any contrary state statutes, or enact its own regulations concerning those aspects of elections that states may not have addressed.
My intent here is to suggest what must be done if we are to successfully protect one of our most basic freedoms, free and fair elections. Notwithstanding the necessity to investigate and report to the American people, I do not believe the Biden administration will touch election fraud with a ten-foot pole. Therefore, It will become the most tragic result of the events on Capitol Hill, 6 January 2020.
Given Biden’s complacency, our only alternative is to press hard for (not just “voter ID”) Voter ID CARDs. Voter ID can provide some improvement, Voter ID CARDs will fix the fraud in spite of a do-nothing Biden Administration.
Marvin L. Covault, Lt Gen US Army, retired, is the author of VISION TO EXECUTION, a book for leaders, a columnist for THE PILOT, a national award-winning local newspaper in Southern Pines, NC and the author of a blog, WeThePeopleSpeaking.com
+++
Thoughts from a well known and respected Institutional Investment Organization : Alliance Bernstein.
Key Takeaways
· Despite the violence in Washington, DC
yesterday, the outcome of the November elections has been certified by Congress
and the result of Tuesday’s Georgia Senate race is now known. The Democrats
will control the White House, the House, and the Senate
· With such a small electoral margin, the
probability of significant, retroactive changes to individual or estate taxes
is remote
· Both yesterday and overnight, US and global
markets reacted with remarkable resilience given the situation which unfolded
at the Capitol
· The main fixed-income market impact has been a
higher 10-year Treasury yield on the back of the Georgia election. This comes
from a slight increase in inflation expectations, which is in line with our
projections
· The overall equity market impact has been
mildly positive, with the main impacts being felt at the sector- and
stock-level, as anticipated
It’s tough to find the words to describe the events which transpired in the
United States yesterday. A mob successfully stormed the US Capitol. Also
yesterday, the AP called both Georgia Senate races for the Democratic
candidates, giving the Democrats the narrowest possible margin in the Senate: a
50/50 split with Vice President-elect Kamala Harris breaking any ties. The last
time this happened, in 2001, the two parties found a way to share control of
power—an outcome that seems less likely today given the highly polarized
environment.
Democratic control of both houses of Congress may provide a boost to the
economy because it will soften the path for continued fiscal stimulus. It will
also change what makes it to the floor and increase the impact that
President-elect Biden and the Democrats can make with their policies, but the
tight political margin will limit what legislation can pass. As an example, the
additional $1,400/household in the December stimulus which was effectively
blocked by Mitch McConnell would likely have met with a different result under
Democratic control.
Tax Implications
A key question that remains for many of our clients is taxes: the Biden team’s
proposed policy agenda included the possibility of potential tax increases on
corporations, individuals, and estates to pay for other key priorities such as
infrastructure spending. Further, clients are concerned that any tax changes
could be made retroactive to the beginning of 2021.
Given the narrow margin in the Senate, we view the likelihood of
significant, retroactive change to be remote. We do not expect a standalone tax bill.
Instead, tax provisions may be embedded in other pieces of legislation.
Additionally, any tax changes would likely need to pass through Congress’s
budget reconciliation process, which requires a simple majority vote rather
than a filibuster-proof supermajority. The reconciliation process aims to align
spending and revenue levels with a new budget. The current budget, passed in
December, runs through September 30, 2021, making changes before year-end 2021
less likely.
Some clients may be concerned about potential changes to the gift and estate
tax laws, in particular, the possibility of a retroactive reduction in the
basic exclusion amount, which currently stands at an inflation-adjusted $11.7
million. Those changes are likely coming, but probably not in 2021. Transfer
taxes don’t raise much revenue, so it seems unlikely that the Democrats would
attach, say, a reduction to the basic exclusion amount to legislation that
provides for infrastructure improvements or public safety reforms. But nothing
is certain and we aim to be prepared for whatever comes.
Our Wealth Strategies team will continue to monitor developments in Washington,
but it’s important for you as clients and us as advisors to communicate about
your income tax situation throughout the year so we can best advise you if and
when change is on the horizon.
Market Implications
Despite prognostications of steep equity market sell-offs if Democrats secured
both Senate seats due to fears of corporate tax hikes, and despite the shocking
images from DC and the vivid responses that they provoked from onlookers, the
overall market reaction thus far has been notably resilient and mild, with the
market rising yesterday and this morning. The dollar weakened initially but has
since rallied and is up overall since Tuesday.
The most significant move has been in the fixed-income markets, where 10-year
Treasury yields are up around 10 basis points since Tuesday and pushed through
1% for the first time since March, with an increase in inflation expectations
accounting for most of that. This move makes complete sense to us given that we
think the market is pricing in a high likelihood of greater fiscal spending and
continued monetary policy support. We think this will be a policy priority for
the Biden administration given the ongoing labor market challenges and recent
virus surge. The market’s longer-term inflation expectations are now up to
2.04%, a level not seen since mid-2019 and in line with the Fed’s policy
target. Here too, the slight rise in inflation expectations is exactly what we’d
anticipate with Democratic control. We’ll continue to monitor inflation closely
in 2021 along with the Fed and market’s reaction to it.
For US stocks broadly, the longer-term impact will be a question of earnings
impact from potentially higher personal and corporate taxation versus the
offsetting potential benefit of higher fiscal stimulus, increased government
spending, and reengaged global trading relationships. What happens with taxes
and infrastructure is still tough to call—Biden’s proposed corporate tax hikes
are bundled with his infrastructure plan, and with only a bare majority, the
final form of that legislation remains to be seen. But with Democratic control,
it will not be completely stifled in the Senate and perhaps a more modest
increase than was laid out on the campaign trail is likely.
As we’ve highlighted, where we see the most impact is at the sector- and
stock-specific level. Companies tied to infrastructure and clean energy stand
to benefit; fossil fuel companies stand to lose. For pharma companies’ pricing,
this is incrementally negative. For health insurers, we expect those levered to
government programs such as Medicaid and the public exchanges to benefit more
than peers. The fundamental impact on tech stocks is mixed and the sector
underperformed yesterday due to a combination of regulatory concerns and
rotation into more reflationary sectors. Finally, at the margin, this benefits
cyclicals, financials, and other cheap stocks in two ways—from the potential
for stimulus and faster growth to boost companies’ earnings and sentiment and
from its impact on inflation expectations and interest rates. Indeed, cyclical
sectors and the value factor led the market following the news.
In the municipal bond space, the election result increases the likelihood of
federal support.
What Happens Next?
This is the question we’re all asking, not just as investors but as citizens,
residents, or onlookers. Given the Georgia election results and Congress’s
resolve overnight in certifying the presidential election results, we have some
idea of the political and policy landscape over the next two years, starting on
January 20. However, there is a remarkable degree of uncertainty around what
will transpire in the next two weeks.
We can’t pretend to know the answer. But we have to manage the risk to our
clients’ portfolios and finances. Again, this is why we stress diversification,
balancing a portfolio across asset classes and geographies so that regardless
of what unfolds, you can benefit from ongoing economic growth and also protect
against unknown shocks. We also recognize that so far, the market has taken
this all in stride, as it looks to a more normal future, both in terms of the
political moment and the public health crisis. Should events change and the
market turn volatile, we will do what we always do—analyze the best information
available, protect as needed, and look for opportunities amid the disorder.
As a final note, around 4,000 people died of COVID-19 in the US yesterday,
making it the deadliest day of the pandemic for the country so far. But
vaccines are here and for all the bad news we’ve packaged into this e-mail,
there are real reasons to be optimistic about the rest of 2021. We’re looking
forward to talking to you more about those in the coming weeks and months.
Please reach out to me or a member of my team with any questions about your
portfolio, the markets, and your financial planning.
+++
Israel's airforce targets Syria again:
An alleged Israeli airstrike targeted locations in southern Syria as explosions were heard in the skies over Damascus on Wednesday night, according to Syrian state media SANA.
The strikes were launched from the Golan Heights, a Syrian military source told SANA, claiming that most of the incoming missiles were intercepted by Syrian air defenses.Footage on Syrian state television reportedly showed a multi-story building on fire due to the strike.
The opposition-affiliated Halab Today TV reported that more than five strikes targeted sites near the First Division of the Syrian military in the Al-Kiswah area, south of Damascus. The Syrian Step News Agency reported that the strikes also targeted Iranian militia sites in Al-Dimass, located west of Damascus near the Lebanese-Syrian border, and Sahnaya, located south of Damascus.
Weapons depots, observation points and radar sites belonging to the First Division were targeted in the strikes, according to Halab Today, adding that at least eight Syrian soldiers were killed and a number of others were injured. The strikes also targeted radar sites belonging to the Syrian military and pro-regime militias near As-Suwayda, killing a Syrian soldier from the Aleppo area and damaging equipment, according to Halab Today.
Official Syrian sources have not confirmed any casualties.On Thursday, Syrian media reported that the Israeli Air Force dropped leaflets in southern Syria warning residents against collaborating with pro-Iranian militias and threatening Basil Abu Eid, the commander of the 112th Brigade in Quneitra, located near the border with Israel, according to the Step News Agency.
The leaflets warned the commander that continuing to allow the Lebanese Hezbollah terrorist group to operate in Syria would place his life and the lives of his family at risk.
This is the third alleged Israeli airstrike reported in Syria in the past two weeks.
Last week, one soldier was killed and three were wounded in an airstrike targeting Al-Zabadani, located near the Lebanese-Syrian border and just north of Al-Dimass.
Al-Zabadani is believed to be part of a major smuggling route for weapons sent through Syria to Hezbollah in Lebanon.
Earlier in December, Syrian media reported that air defense systems responded to another alleged Israeli airstrike in the northwest of the country. Four buildings, part of a munitions factory in Masyaf, were damaged.
The area of Masyaf has been a target in several attacks in recent years, mostly attributed to the Israeli Air Force. The last time an airstrike attributed to Israel targeted the area was in early June, when it targeted Syrian defense factories near the city. At least nine people, including four Syrian nationals, were reported dead as a result.Jerusalem Post Staff contributed to this report.
+++
Why go to the expense just make the NYT's required reading:
https://thenationalpulse.com/
++++
More commentary:
UNMASKED: We Compared How MSM Covered BLM Riots v Capitol Hill Riots – The Difference is STARTLING
The Tipping Point: What Drove People To Riot At The Capitol?
+++
No comments:
Post a Comment