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Truman once said the only thing new is the history you have not yet read.
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So what's a little mass shooting and so what if the city of Brotherly Love turns into The City of Bullets and Hatred? We are hypocrite Democrats and can ignore these matters because we have progressive ideas which seldom, if ever, work but repeated enough, by our protectors in the mass media, become acceptable and, most importantly, win elections.
And:
The same for Minneapolis:
https://nypost.com/2021/04/12/
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Just a fact or two but who cares about setting records straight when you are a demagogue Democrat who fought against Civil Right's legislation :
And:
So what if Iran's nuclear efforts were temporarily derailed. Iranian dictators live in denial. It is part of their DNA as with all zealous politicians. We even have a few in our country starting with Border Crisis Denying Biden, Kamala Schumer and Pelosi et. al. And then there is "Lap Top" Hunter
https://m.jpost.com/middle-
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Ross Rants:
The market continues up toward my target of 4300-4400 on SPX over the summer or fall. Now is the moment to be invested fully in equities. It may not last more than a few months, but now is the moment. It seems clear they will not pass a tax bill at 28%, which is a boost for stocks. Even 25% is far too much. They might get to 25% because they will use reconciliation which Schumer now says they plan to do, but now they have a big problem. They will be short hundreds of billions in their fake calculation of 15 years to pay for 8 years of spending. The taxes are a today cost, and the infrastructure being reality is 5-10 years away from completion, so when Zandi claims the payback to justify higher taxes, is the benefits of the infrastructure, he ignores timing- which I have pointed out to him directly, to no avail I might add. I am looking forward to when he and I have dinner this summer, and I can have time face to face to argue the case. As he is who the White House continues to cite on economic models and policy, maybe I will be able to make a dent. Even the NPV analysis ignores that the spending will not stop at 8 years if they really do put these bills into law. Obviously they never learned how to do net present value calculations, nor return on investment analysis. The truth is small portion of the bill that funds actual infrastructure will go mostly to lawyers and consultants and planners, and when it finally comes time to build the project they will need new funding to build it, and it will cost 20%-40% more due to regulatory delays and costs.
Credit Suisse has said it lost $4.7 billion on the
Archegos trades. UBS and Nomura also lost big. More reason CS may merge with
UBS. Just again proves that Wall St traders still play the leverage game where
they can, and they never learn. The fees were great, so they played on, and
never asked Archegos where else they were doing the same trades which magnified
the untenable leverage. Some things never change. The press and Dems got all
bent out of shape over Robinhood which harmed nobody, but they ignore Archegos
which nearly became another Lehman moment. That is because they are too stupid
to understand what really happened, and so could not create press releases
about it. Basically Archegos paid fees to the Wall St firms to have them buy
the stocks on margin and hold them on their books for a fee, Archegos then
would profit from the upside. It was great so long as Archegos was the big
buyer of these stocks, and so the prices ran up, but then they ran out of
credit and stopped buying, so the stocks plunged when Goldman and Morgan
Stanley asked for a margin call as the stocks dropped. In essence Archegos
borrowed $30 billion in pieces so no prime broker ever connected the dots until
Goldman and Morgan did on a Friday. They got out close to whole.
The VIX remains below 20, which is encouraging for
equities. The ten year for the moment is stable at around 1.7%, but it will
rise to 2.0%, or more, by year end. Larry Lindsay predicts it could be 3% by
year end, and even Zandi says 2% to 2.5% or higher. If the ten year hits over
2%, and if it gets to 2.5%, stocks may take a real hit. If they do pass a tax
increase, plus higher rates, then the stock market will not go up as it would
have otherwise done, and it might decline a lot in a hurry. For now the market
will continue up for a few months as the economy reopens and booms, but as the
year goes on it gets more and more dicey. Zandi even forecasts that the ten
year will be at 3.5%-4.0% in a few years. Bond funds have been big losers this
year, and will lose a lot more over the next few months and years, which is why
a lot of cash has moved to the equity market. Pension funds have an allocation
requirement to put some substantial money in bonds, so they will be big losers,
and the pension crisis will just get worse. The government will not be able to
pay for defense and national security requirements to deal with China once
rates reach these higher levels and debt service eats the federal budget,
unless there is another tax increase, which then kills the economy, or they cut
social programs, which the Dems will never do. That is the eventual outcome
from all this spending. At the moment stocks are in a sweet spot based on clear
economic growth for the next two quarters, plus the huge amounts of cash moving
from bonds to equities, and the slow economic recovery in the EU drawing funds
to the US markets, but the Dems can screw this up with all of their lies and
spending bills. First they bribed the voters with $1400, and now they claim
they are putting 19 million jobs in place over the next ten years. That is
based on the Moody's models which are filled with all sorts of unprovable
assumptions and guesses, most of which will prove wrong. I continue with my one
on one discussions with the top of Moody's, but to no avail.
As vaccines ramp up to over 3.1 million a day, we
remain on track to have most people vaccinated, or have had the virus, or are
kids who rarely get sick, before mid- May. There will be no reason not to have
reopened everything by then. Forget case counts as they include asymptomatic.
Hospitalizations have dropped dramatically. I now do not know anyone who has
not yet had at least one shot, and most I know have had two. This just confirms
that the economy is booming now and unemployment will continue to decline rapidly
if the schools and day care would just reopen full time. There was no need for
the last "stimulus" bill, and there is no need for the government to
do any more than has already been done. The White House policy that they need
to have these massive spending programs to "keep the economy growing"
is utter nonsense. Reopen and get out of the way, and the private sector will
do the rest. The last thing we need is a new tax increase just as the economy
is taking off. It will already be a drag to have so many people collecting the
extra unemployment, child subsidies, and extra unemployment, so we do not need
any further drag on employment. They seem determined to insinuate the
government into everything again, and that is the worst thing for economic growth.
It underlies their governing philosophy that the government needs to regulate
everything, and they need to redistribute the wealth. At the rate they are
giving shots we will have more than 160 million with at least one shot plus
another 50 million, or more, who had the virus so over 210 million will be
immune by May 1. Add on the 72 million kids, and we will be left with mostly
people who refuse the shot as not vaccinated. Biden will take credit, but he
had almost nothing to do with this. It was the private companies who are making
it happen. Now of course the CA teachers are demanding the taxpayers pay for
day care, on top of extra bonuses for no work. This now proves the teachers not
working is all about money from the last Dem spending bill, and getting to the
head of the line for vaccinations and nothing else. Teachers are below
disgusting low lifes. Bezos says he is all for the spending and higher
corporate taxes. Why should he care how it harms us lesser beings. What has
happened to CEO's in America???
Most everyone I know earned what they now have
through hard effort and they paid full taxes on those earnings. We all paid our
fair share as we earned it, and the fact that we got wealthier through stock
investing is what capitalism is all about. Dems seem not to understand the
basic concept that as stock prices move higher, companies have a lower cost of
capital and can afford to pay higher wages, and to invest more in technology to
improve productivity, which leads to less inflation and even higher wages. That
is how it works if left to function on its own without the government
interfering and trying to take money from job creators and investors, and
giving it to people who do nothing to add jobs or grow the economy. Unions
inhibit growth, they did not build the nation (i.e newspapers NYC once had a
thriving press but unions drove most out of business, the UAW drove car
manufacturing to Mexico). Yellen's op ed in the WSJ on Thursday is mystifying.
Companies are not offshoring now despite what she claims, unlike under Obama
when they fled in droves. Corporate taxes actually rose, and the economy boomed
resulting in far more tax revenue for the government. Yellin has blown her once
high reputation by going political, and making misleading statements.
The proposed "infrastructure " bill has
massive amounts for left wing programs in amounts that cannot possibly be spent
efficiently. For example, the allocation to affordable housing is 4 times the
entire budget of HUD. That is a 4X. That is just one insane example. We all
know that when there are massive amounts of government money flowing, there
will be massive corruption as the pressure will be on to push out the cash. We
have had affordable housing programs in the past, and just throwing money at
the problem is not the answer. Low interest loans to buy land and finance
construction is what is needed, but more critical is much less regulation which
raises costs, and finding land that can be bought at low cost, maybe with some
government subsidy. A project near me in the Hamptons is using manufactured
housing multifamily units, and that saved 30%. That is what is needed, not
massive DC funding. It is typical of the Dems to think just throw money at a
problem, and that solves it, and when that does not work throw even more money
at it. If you listened to Joe, he even said we need to go big because the $800
billion that Obama wasted did not do the job. He ignores that the $800 billion
was wasted, and if they had done public private partnerships and cut regs and
taxes instead, they might have had a growing economy instead of declining
family income. I have a sense that the proposed tax increases will not happen
at 28% as the Dems start to hear from big donors, moderate Dems who are up for
election, and lobbyists, that it will not go over well. The real killers in
addition to 28% corporate tax and $400,000 for families, is the minimum tax on
offshore income of corporations being pushed by Yellen, and the elimination of
many tax breaks for real estate. The details of the tax bill are real killers
for growth and will really piss off a lot of voters. I thought Yellen was
smart, but her pushing for a worldwide minimum tax of 21% leaves mee to wonder
about her. Surely she knows that has zero chance of happening, and is a terrible
idea. Maybe she has to say it just to keep her job.
A study by Wharton claims the tax increase will
not be negative to capital expenditure due to timing of bonus depreciation and
they run the model out to 2050 to try to justify the increase. I don't know
anyone who can accurately project the economy through 2021, and they think they
can do it over 30 years. That is absurd and just shows the lengths the
administration is going to in order to try to justify the massive tax increases.
A recent survey by Wall St analysts of retail
space intentions shows that most retailers plan on less space, and some new
small shops on Main St closer to their markets. The massive stores in malls is
over. The program now is to have a mix of online and smaller stores to serve as
both product displays, brand advertising, and places to assist in same day
shipping. They days of the massive malls is ending. Many will remain, but the
configuration of stores and adding entertainment areas will likely change. I
would not be an investor in brick and mortar centers these days. Even if space
gets occupied, it is very likely that rents will be lower and percentage rents
will be a battle with landlords as the landlord rent participation in online
sales is now a major issue. There will be a lot of major mixed use
redevelopment opportunities in the future as malls close and are demolished.
It is really amazing how the administration
continues to try to cover up the border which is in plain sight, and to make
believe it is not a crisis. To claim the border is secure, and they are
deporting people in the face of reality is stunning. For Biden to claim it is
just a seasonal problem just makes him look even more stupid than he already
seems. Kamala has been in hiding since she was supposedly appointed to fix the
problem, probably because they realized she is incapable to be allowed to speak
publicly about how she will fix the problem. Throwing cash at the situation in
the northern triangle has been tried under Bush and Obama, and we saw how that
worked. The corruption is so bad, the money never goes where it is needed. What
is needed is new clean governments that can crack down on the cartels, and
bring in capital investment. Another case of Dems belief that just throw money
at a problem, and believe that will fix it. They never seem to learn. It never
worked in the US, so to think it will work in highly corrupt places is really
idiotic.
The moving of the All Star game, and the public
comments by Delta, Coke and other CEO's is going to cost those companies, and
the Dems in 2022. It is very clear that none of them even knew what the GA
voting bill really says, and that Biden lied about what it says, and the press
repeats the lies. The CEOs of Delta and Coke really made themselves look
stupid, and total hypocrites. You can't vote at the Coke shareholder meeting
without photo ID, but he objects to photo ID for voting. They should be fired
for what they said since they lied, and made their companies and brands look
foolish. This is more of the mantra driven by the dean of the Yale leadership
group in their conferences with CEO's where they drive a left wing narrative,
and CEO's are reacting to institutional pressure to look woke. Short term weak
thinking. We need more CEO's like at Goya to tell the mob to go to hell.
Companies business is business, and to maximize cash flow for the shareholder
owners. It is not social engineering. They need to stop playing social
engineers and opinion makers, and go back to running efficient and profitable
companies, which does far more for creating opportunities for minorities than
ridiculous false public statements about voting laws. We can have the Olympics
and factories in China, but not a baseball game in Atlanta. How hypocritical
can it get. The more cancel culture, border crisis, tax increases, and boycott
crap, the more the Dems lose in 2022. I dare the woke mob to come after me. MLB
is going to CO which has apparently voting laws more to the liking of the left
even though they are very similar to GA. What a way to choose a location for an
All Star game. They have lost their minds. One good thing is I expect other
CEOs are watching Delta and Coke get damaged, and will not follow their lead in
the future. GA just took away the state subsides Delta was getting. I would love
to hear the CEO explain that to his board and at the shareholder meeting. If I
was on those boards I would demand the CEO get fired, or I would resign and
hold a press conference excoriating the board and the CEO. This whole thing was
engineered by Pelosi to push her HR1 bill, but it has now backfired.
If you watched 60 minutes last Sunday re FL and
Covid shots, it was totally false. Publix has stores all over FL and they all
have a pharmacy. The state asked for supermarkets and Wal Mart to open for shots.
Publix stepped up. So did others. DeSantis is now a potential presidential
candidate, so CBS went on the attack as has PBS. That was what that 60 Minutes
piece was really all about. I never really liked Piers Morgan, but after he had
the balls to stand up for free speech and refuse to apologize for being honest
and exercising his free speech, he is now a hero. Too bad CEO's do not have the
same belief in free speech, and the right of states to determine their own
voting laws. DeSantis had the guts to tell CBS they are the liars and to shut
up. CBS just helped him instead of hurting him.
As my grandmother was about to turn 100 she gave
me the best advice I ever got. It is better to die sorry for what you did than
sorry for what you did not do, because one day you wake up and realize you are
now too old to do those things you wanted to do. I never forgot the sadness in
her eyes as she reflected on what she never did. You only get to play the game
once. There are no rematches. Make the most of it.
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Taking a cue from the Communist Party in China, Beijing Biden has announced that an occupying army of thousands of National Guard troops will remain
stationed in Washington, DC for the remainder of 2021. Do you think the people in charge sense their own illegitimacy and fragility?
We’ve never received an explanation as to why the troops were there in the first place and none of the intelligence agencies have identified a specific
threat. The media swore up and down that the election of Beijing Biden and Democrats gaining control of Congress would bring a “return to normalcy” to America. So far, it’s been anything but normal.
Think of the worst possible reason you can imagine for keeping several thousand soldiers on the streets in DC… and that reason is probably correct
I guess the silver lining is that now we know just how frightened they are of the voters.
In a bit of news that received almost no news coverage last week, Republicans picked up another seat in the US House of Representatives. Let that
sink in for just a moment. It took until February 5, 2021—three full months after the November election—for a House race to conclude in the courts. Rep. Claudia Tenney (R-NY) had to appeal the election results up to the New York Supreme Court, which finally
ruled that she was the winner over incumbent Democrat Rep. Anthony Brindisi. The outcome of that election was only decided because there was an audit of the votes in Tenney’s district. Just
sayin’!
So, Rep. Tenney was sworn in as the newest member of Congress last Thursday. Members of Congress are typically allowed to bring family members to
watch when they take their oath of office. But the number of guests inside the Capitol is limited right now, with coronavirus being the excuse. Anyway, Rep. Tenney chose to have her son come and watch her being sworn in.
House Speaker Nancy Pelosi (D-CA) denied that request. She refused to allow Rep Tenney’s adult son to attend the ceremony, on the grounds that he
is a dangerous security threat.Pelosi Banned Congresswoman’s Military Officer Son From Attending Her Swearing-In
| The Daily Caller
Wait, what?
Who is Rep. Tenney’s son? Is he some QAnon blogger or a member of the Proud Boys? Does he read Breitbart News (or this website)? Does he have an NRA
card? Does he own a hat with buffalo horns on it?!
Actually, Congresswoman Tenney’s adult son is an officer in the US Navy The guy attended the US Naval Academy and received one of the finest military
educations still available in America. He’s served his country since roughly 2013. Right before he deployed to Iraq in 2017, President Donald Trump personally called him to wish him well.
Tenney’s son likely has a fairly high-level security clearance at this point in his career. He’s also been vetted by the military to a level of much
more scrutiny than the average person will ever go through. Yet Nancy Pelosi has branded this US Navy officer a security threat to the very same Congress that Tenney’s son has a sworn oath to defend.
This goes far beyond the normal political pettiness that we’ve all come to expect from the Democrat Party. This is ominous.
If a US naval officer is being branded a security threat and is not allowed to enter Congress just to watch his own mother’s swearing-in ceremony,
what do you suppose the people in charge think about you? Especially if you own a MAGA hat or have a Trump sign in your yard.
As a side note, America just made another historic first thanks to the amazing presidency of Donald J. Trump. From February 9, 2020 until February
9, 2021, there were no flag-draped US coffins flown back from Afghanistan to America. For the first time since the war in Afghanistan began, we had a full year go by with no American troops being killed over there. Thank you, President Trump! How long do you
suppose it will be before those coffins start arriving again, under “Return to Normal” Biden?
But back to our main point: The Democrat Party has now gone full communist. Americans on the right need to brace themselves, because we are now branded
as domestic terrorists by a government in DC that is hiding behind thousands of well-armed troops. If they can brand a US Naval officer as a security threat, they can certainly do it to you.
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Is it strike three already?
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