Saturday, August 22, 2015

BloggeRhythms

Today's headlines suggest panic in the streets, because the Dow industrials lost 530.94 points on Friday, closing at 16459.75, which is classified as “correction territory,” defined by a 10% decline from a recent high. Similarly, the S&P 500 dropped 64.84 points, while the Nasdaq Composite fell 3.5%, or 171.45 points, to 4706.04. 
 
While the Dow’s more than 1,000-point drop for the week was the largest since Oct. 10, 2008, U.S. oil prices also briefly dropped below $40 a barrel on Friday, a level not seen since the financial crisis.
 
What’s most interesting, however, is that although many are greatly upset by their losses, one currency investor calling it "a race to the bottom, the results seem to be having significantly positive effects for the nation as a whole. Because, according to news reports, “First China, then Vietnam, then Kazakhstan removed their pegs, exacerbating a rout in emerging-market currencies to reach record lows. Malaysia’s ringgit weakened to a 17-year low, the worst developing-nation performance this month after Russia’s ruble. Colombia, where oil is the biggest export, also saw its peso weaken to an all-time low.”
 
And, therefore, America strengthened itself versus other nations lacking the resiliency, substance or basic underlying economic strength to sustain, or fund, further potential threats against the U.S..   
 
Additionally, weak manufacturing data out of China was the latest bad news wreaking havoc in financial markets this week. The devaluation of the yuan has sparked global growth concerns that hit almost every global asset class, finally reaching what had until now been a bastion of stability: the S&P 500. Which means that, except for those U.S. entities or individuals invested in China in any way, the probability is that a long range benefit has been gained here for the nation as well. 
 
On another subject, whereas Trump gained additional headlines by staging a rally in Alabama, attracting a huge turnout, it seems to be time for his opponents to begin publicizing his record. Because the major advantage Trump has now, is that he’s not a politician. And therefore, he’s currently beholden to no one and can say whatever he pleases. Most of which is plain, every day common sense. His only problem is that his ideas can’t be implemented or others would have done so already, while logic clearly demonstrates that he certainly can’t fulfill his promises either.
 
A recap of Trump’s objectives was found in an article by David A. Fahrenthold @washingtonpost.com titled: “Republican candidate Donald Trump’s platform: Because I said so.”
 
On the U.S.-Mexico border, Trump would build a long, impenetrable wall. In the rest of the country, he would pressure the estimated 11 million illegal immigrants to “self-deport” — and, if they don't, round them up to deport en masse. Later, Trump says, “the good ones” could come back.” While a significant number of voters would certainly agree with that, perhaps a huge majority, logistically at this point, it’s impossible to accomplish.
 
“He wants to repeal “Obamacare.” He has called global warming “bull----.” He wants to end the Common Core education program and renegotiate the nuclear deal with Iran.” And all other Republican candidates continually agree with that and say so themselves. Except, perhaps, Ron Paul. 
 
“But, at other times, he sounds more like a Democrat: Trump, for instance, rejects GOP plans to overhaul Medicare.”
 
He also claims that he’s going to make the economy “sing,” and that  under his leadership there will be more jobs. Yet, even when pressed, he doesn’t say how except that he’s Trump, and therefore it must be true.  
 
He also want’s to curb parts of the Environmental Protection Agency, citing “clean-air enforcement as an area where regulators have become too burdensome," while, "more growth would make up for lower tax rates.” And, here as well, all other Republicans promote the same thing, as do a recently growing group of Democrats, including some allowances in oil drilling restrictions directly from the POTUS himself. 
 
“In his 2011 policy book, “Time to Get Tough,” Trump called for eliminating the income tax on corporations entirely: “A zero percent corporate tax would create an unprecedented jobs boom,” he wrote.” Which is patently ridiculous. Because while workers would flourish significantly, the nation would be unable to pay its bills or provide any services.
 
Mr. Fahrenthold’s article moves on to cover additional topics, such as foreign policy, oil importing and banking and finance, which will be covered here tomorrow. But for today, the answer Trump provides as the reason he can do whatever he proposes is because, “he’s Donald Trump.” Perhaps his bankers should be consulted on that one.
 
Which brings us to today’s update on Bill Clinton’s wife. This one coming from the Washington Examiner’s Sarah Westwood, who reports that, “State Department officials have uncovered 17,855 emails sent between a former Hillary Clinton spokesman and reporters that the agency long claimed did not exist.
 
“The trove was among more than 80,000 emails belonging to Philippe Reines, a Clinton aide, that were discovered on his State Department account, officials said in court filings Aug. 13.
 
“In response to a Freedom of Information Act request filed by Gawker Media in 2013, the State Department said it had no responsive records. Gawker was seeking official correspondence between Reines and reporters from 33 news outlets.”
 
Thus, after two years of denials, almost 18 thousand “lost” emails have suddenly reappeared, much like in 1966 when Bill’s wife claimed no knowledge that the Clinton White House illegally obtained FBI files on adversaries. Yet, it was proved that she did and they were used to smear others politically. And, thus, the beat goes on as history repeats itself.
 
Which leads to the ongoing daily question: Joe Biden, Mayor Bloomberg, Jerry Brown, and Starbuck’s chairman and CEO, Howard Schultz, are you reading this? 
 
That's it for today folks. 
 
Adios

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