When I awoke yesterday morning and glanced at the crawlers on my TV screen, I thought perhaps I was still dreaming, lost my mind entirely, or was watching some kind of fantasy show and not the financial news.
That was because the stock future prices, including the Dow, NASDAQ and S&P were rapidly climbing skyward, making absolutely no sense to me. Because the Supreme Court had just OK’d one of the biggest tax increases in history which soon will likely dampen the economy to practically a standstill, if not reverse it into another recession. In fact, I believe this huge step toward outright socialism might kill our business spirit altogether, whereas I can’t imagine anyone with any ability or iota of common sense who’d work diligently to financially assist some strangers who don’t work at all or contribute whatsoever.
However, I soon found out that the stock market surges had practically nothing to do with our new U.S. health care taxes at all, but were due to Europe’s reaching agreement on handling its financial crisis, which frankly confused me almost as much as would a celebration of the president’s economic mistakes.
According to CNN on-line, “Under this deal, European leaders agreed to create a single supervisory body to oversee the Eurozone’s banks which could use the single currency area's rescue funds, the European Financial Stability Facility or European Stability Mechanism, to aid banks directly without adding to governments' debt.”
They go on to report that an EU statement said “European Union leaders are hoping for implementation of the agreement by July 9, and the deal means Spain's formal request this week for Eurozone bailout funds to recapitalize its troubled banking sector will not add to its sovereign debt. Madrid had feared the increased debt load would send its borrowing costs even higher.”
So, here we have a case where other nation’s funds are being donated to a country that’s basically destitute and has no current solution to correcting its situation via productivity. However, the inflow of funds won’t be treated as a loan since they’re a gift. But, nonetheless, the underlying problems remain and consequently, when these new funds are exhausted, Spain will still be broke, hapless and hopeless, and thus I simply don’t understand why investors and oil speculators think this news is good.
In the meantime, though, while all these nations, including our own, wheel and deal and manipulate loans, gifts and new taxes, the folks who I think stand to potentially lose their proverbial shirts are the individual securities traders trying to figure out the markets. Because if all the nation heads, major banks and “sophisticated” market players have no clue as to what to buy or sell or bet on, or why or when, the odds for “little guys” doing well are probably far better for them at the racetrack.
That’s it for today folks.
Adios
Saturday, June 30, 2012
Friday, June 29, 2012
BloggeRhythms 6/29/2012
If the Republicans win the coming presidential election, I think they’ll owe huge credit to SCOTUS’ Chief Justice Roberts, who did more for them than any political speech could. Because he could not have been clearer that as a law Obamacare had no standing or merit, but is in fact a new tax imposed on just about all who earn income in the U.S.
So here we have a situation where the nation’s economy couldn’t be much weaker and an incumbent who’s compounding the problem and making it far worse.
But, I think in stating their case, Republicans should avoid getting mired down in disputing 2700 pages of legal gibberish that’s crammed in the bill and make one very simple point, which is: If 26 million people who couldn’t afford health coverage before now have it, where will the money come from? The answer is, at a minimum approximately $400 billion of new taxes that are now legally stuck on the backs of all U.S. businesses and people earning income which may finally add up to be one of the largest new taxes imposed in the nation's history.
And that’s the issue that has to be hammered home, because if left alone the nation will continue down the slope toward economies like those presently draining Europe, where half the nations are broke and being supported by others, and almost all the rest are on their way to that result. Because, simply and purely, socialism doesn’t work now, never has, and never will for too many reasons to list in this space.
However, to give the incumbent some slack. He’s never held a real job, never earned a paycheck and hasn’t a clue as to how businesses or economies work. So from his perspective, basically formed from reading text books, lots of this idealistic gobbledygook looks good on paper.
And I must say, if the public covered my pay check, food costs, servants, health care, travel and entertainment and let me live in the White House for free, I’m not so sure I’d care about other folks tax burdens either.
So, if I could pick up some votes despite imposing crippling tax increases on those trying to operate businesses or earn some money, so be it. I’d be out of there in four years or less anyway which means the problems I created will be someone else’s down the line. And if nothing else, that seems to me to be the precedent that this president lives by.
That’s it for today folks.
Adios
So here we have a situation where the nation’s economy couldn’t be much weaker and an incumbent who’s compounding the problem and making it far worse.
But, I think in stating their case, Republicans should avoid getting mired down in disputing 2700 pages of legal gibberish that’s crammed in the bill and make one very simple point, which is: If 26 million people who couldn’t afford health coverage before now have it, where will the money come from? The answer is, at a minimum approximately $400 billion of new taxes that are now legally stuck on the backs of all U.S. businesses and people earning income which may finally add up to be one of the largest new taxes imposed in the nation's history.
And that’s the issue that has to be hammered home, because if left alone the nation will continue down the slope toward economies like those presently draining Europe, where half the nations are broke and being supported by others, and almost all the rest are on their way to that result. Because, simply and purely, socialism doesn’t work now, never has, and never will for too many reasons to list in this space.
However, to give the incumbent some slack. He’s never held a real job, never earned a paycheck and hasn’t a clue as to how businesses or economies work. So from his perspective, basically formed from reading text books, lots of this idealistic gobbledygook looks good on paper.
And I must say, if the public covered my pay check, food costs, servants, health care, travel and entertainment and let me live in the White House for free, I’m not so sure I’d care about other folks tax burdens either.
So, if I could pick up some votes despite imposing crippling tax increases on those trying to operate businesses or earn some money, so be it. I’d be out of there in four years or less anyway which means the problems I created will be someone else’s down the line. And if nothing else, that seems to me to be the precedent that this president lives by.
That’s it for today folks.
Adios
Thursday, June 28, 2012
BloggeRhythms 6/28/2012
The very good short-term news for the administration today is that SCOTUS, due to the yea vote by Chief Justice Roberts,upheld the health care law as constitutional, which means the legislation will stand.
Conversely, the horrendously bad long-term news for the administration in the coming weeks, in my opinion, is that the health care law will stand. And that’s because despite the fact that the law exceeds the powers of Congress as pure legislation, the way the administration’s attorneys presented their argument, the law can stand as a tax.
Justice Roberts words were, “'Congress had the power to impose the exaction in Section 5000A under the taxing power, and that Section 5000A need not be read to do more than impose a tax. This is sufficient to sustain it.”
So, after all the smoke clears, and all the self-serving congratulatory speeches and back-slapping are done by the Dem’s, I think the voting public will ultimately realize that not only has this law done irreparable harm to health care itself, it will boil down to one of the largest tax increases in history. And whereas the law only applies to particular sectors of the population, those who earn income will still wind up paying the costs of those who don’t. That’s Socialism 101.
However, what’s even worse for the administration is that thanks to the law’s survival, it’s likely the economy will worsen, unemployment will probably increase and small businesses will continue to suffer even more because now they have no short-term hope of reduction in hiring costs at all.
And now that all the waiting’s over, and SCOTUS has blessed the incumbent’s health care tax, I guess the big winner is Romney whose campaign just received a huge boost. Which gives us another example of my recurring point that the way for Republicans to win is to do nothing at all except sit back and watch the Dem’s self-destruct.
That’s it for today folks.
Adios
Conversely, the horrendously bad long-term news for the administration in the coming weeks, in my opinion, is that the health care law will stand. And that’s because despite the fact that the law exceeds the powers of Congress as pure legislation, the way the administration’s attorneys presented their argument, the law can stand as a tax.
Justice Roberts words were, “'Congress had the power to impose the exaction in Section 5000A under the taxing power, and that Section 5000A need not be read to do more than impose a tax. This is sufficient to sustain it.”
So, after all the smoke clears, and all the self-serving congratulatory speeches and back-slapping are done by the Dem’s, I think the voting public will ultimately realize that not only has this law done irreparable harm to health care itself, it will boil down to one of the largest tax increases in history. And whereas the law only applies to particular sectors of the population, those who earn income will still wind up paying the costs of those who don’t. That’s Socialism 101.
However, what’s even worse for the administration is that thanks to the law’s survival, it’s likely the economy will worsen, unemployment will probably increase and small businesses will continue to suffer even more because now they have no short-term hope of reduction in hiring costs at all.
And now that all the waiting’s over, and SCOTUS has blessed the incumbent’s health care tax, I guess the big winner is Romney whose campaign just received a huge boost. Which gives us another example of my recurring point that the way for Republicans to win is to do nothing at all except sit back and watch the Dem’s self-destruct.
That’s it for today folks.
Adios
BloggeRhythms 6/27/2012
It’s said that it’s the little things in life that always get you. And I was reminded of that truism this morning when I read that Missouri Senator, Claire McCaskill, plans to skip the Democratic convention in Charlotte in September.
The excuse her campaign aide made for her decision was that she’s in the middle of a tough reelection fight herself and thus, feels it’s best not to go anywhere else at all. And this, or similar excuses, have been provided by about ten or twelve other prominent Dem’s in Congress, who aren’t attending either.
The reason I mention this is that, if nothing else, politics is a game of payback that works both ways. Bad or good. And politico’s themselves have very long memories, especially when it comes to those who did, or didn’t, provide support when needed.
Consequently, since I’m absolutely certain the group of Dem’s in question expect to remain in office, they surely understand the risks of snubbing an incumbent president who’s expected to be anointed again at a convention having no other purpose.
Therefore, I can only conclude that they sincerely believe he’ll lose the election next November. And if not, they’ve all made a horrendous political mistake because they’ve turned themselves into persona’s non grata regarding the White House. And despite the fact that these folks are politicians, I don’t believe that even they could be that stupid.
That’s it for today folks.
Adios
The excuse her campaign aide made for her decision was that she’s in the middle of a tough reelection fight herself and thus, feels it’s best not to go anywhere else at all. And this, or similar excuses, have been provided by about ten or twelve other prominent Dem’s in Congress, who aren’t attending either.
The reason I mention this is that, if nothing else, politics is a game of payback that works both ways. Bad or good. And politico’s themselves have very long memories, especially when it comes to those who did, or didn’t, provide support when needed.
Consequently, since I’m absolutely certain the group of Dem’s in question expect to remain in office, they surely understand the risks of snubbing an incumbent president who’s expected to be anointed again at a convention having no other purpose.
Therefore, I can only conclude that they sincerely believe he’ll lose the election next November. And if not, they’ve all made a horrendous political mistake because they’ve turned themselves into persona’s non grata regarding the White House. And despite the fact that these folks are politicians, I don’t believe that even they could be that stupid.
That’s it for today folks.
Adios
Tuesday, June 26, 2012
BloggeRhythms 6/26/2012
CBS DC on-line, posted a quote from Condoleezza Rice on, CBS This Morning, wherein she said she’s “not interested in joining Romney, who has more than enough delegates to win the presidential nod at the party convention in Tampa.”
She further stated that “I didn’t run for student council president. I don’t see myself in any way in elective office.”
And although I really never gave her much thought as a possible Romney VP selection, now that I’ve been reminded, I think her candidacy might be perfect. She’s a consummate professional, with impeccable credentials and far more experienced than anyone in the current administration, right up to and including the incumbent himself. So, in summary, she might very well be the final nail in the Dem’s electoral coffin.
However, I had another thought this morning that might hand the president a second term by accident. Because if SCOTUS overturns his health care law, that might spark a hiring binge across the nation due to the significant future savings and freedom from bureaucratic harassment now hamstringing hapless employers.
Consequently, a spurt in economic activity gained by correction of one of the worst legislative decisions ever made, might actually lead to the reelection of the practically illiterate stooges and boobs who damn near killed our nation in the first place.
That’s it for today folks.
Adios
She further stated that “I didn’t run for student council president. I don’t see myself in any way in elective office.”
And although I really never gave her much thought as a possible Romney VP selection, now that I’ve been reminded, I think her candidacy might be perfect. She’s a consummate professional, with impeccable credentials and far more experienced than anyone in the current administration, right up to and including the incumbent himself. So, in summary, she might very well be the final nail in the Dem’s electoral coffin.
However, I had another thought this morning that might hand the president a second term by accident. Because if SCOTUS overturns his health care law, that might spark a hiring binge across the nation due to the significant future savings and freedom from bureaucratic harassment now hamstringing hapless employers.
Consequently, a spurt in economic activity gained by correction of one of the worst legislative decisions ever made, might actually lead to the reelection of the practically illiterate stooges and boobs who damn near killed our nation in the first place.
That’s it for today folks.
Adios
Monday, June 25, 2012
BloggeRhythms 6/25/2012
According to FoxNews on-line, the administration’s hammering Mitt Romney’s Bain Capital for contributing to the country's outsourcing shift, helped by a story Friday on the topic in the Washington Post.
Romney adviser, Eric Fehrnstrom, however said on CBS' "Face the Nation" Sunday that “No American jobs were shipped overseas in any of the Washington Post examples that were cited by the Obama campaign."
He explained that “outsourcing, in which services like customer service are taken out-of-house, and off-shoring, in which jobs are sent overseas, are two different things and the Post ‘conflated’ the two and that, "When companies like Coca-Cola, for example, build a bottling plant in China so they can sell more soft drinks to the Chinese, we should be applauding that, because that type of entrance into new markets is what makes our companies stronger."
Now, I don’t really know if there’s actually a difference between outsourcing and off-shoring. Nor do I believe it matters very much. Because I think the matter is the result of a much more important problem.
Much of the reason American entities seek foreign locations is due to strangling tax law, over-regulation, crippling environmental legislation, labor union domination, and an administration that’s just about totally anti-business. All of which is further reflected in our overall economy’s dismal performance.
However, far beyond that, if the administration truly wanted to stop American jobs and, far more importantly, billions of citizens hard-earned dollars flowing overseas, they’d permit drilling for oil right here at home. And that single step, in and of itself, would solve so many of our problems that telemarketers in India would soon be hired to recruit the millions of new hires that would be needed here
That’s it for today folks.
Adios
Romney adviser, Eric Fehrnstrom, however said on CBS' "Face the Nation" Sunday that “No American jobs were shipped overseas in any of the Washington Post examples that were cited by the Obama campaign."
He explained that “outsourcing, in which services like customer service are taken out-of-house, and off-shoring, in which jobs are sent overseas, are two different things and the Post ‘conflated’ the two and that, "When companies like Coca-Cola, for example, build a bottling plant in China so they can sell more soft drinks to the Chinese, we should be applauding that, because that type of entrance into new markets is what makes our companies stronger."
Now, I don’t really know if there’s actually a difference between outsourcing and off-shoring. Nor do I believe it matters very much. Because I think the matter is the result of a much more important problem.
Much of the reason American entities seek foreign locations is due to strangling tax law, over-regulation, crippling environmental legislation, labor union domination, and an administration that’s just about totally anti-business. All of which is further reflected in our overall economy’s dismal performance.
However, far beyond that, if the administration truly wanted to stop American jobs and, far more importantly, billions of citizens hard-earned dollars flowing overseas, they’d permit drilling for oil right here at home. And that single step, in and of itself, would solve so many of our problems that telemarketers in India would soon be hired to recruit the millions of new hires that would be needed here
That’s it for today folks.
Adios
Sunday, June 24, 2012
BloggeRhythms 6/24/2012
Found an item on Drudge today that still has me chuckling. Because, according to Lorrie Goldstein of the Toronto Sun, “Two months ago, James Lovelock, the godfather of global warming, gave a startling interview to msnbc.com in which he acknowledged he had been unduly “alarmist” about climate change.”
Goldstein reports that Lovelock’s “implications were extraordinary.”
According to her, he’s “a world-renowned scientist and environmentalist whose Gaia theory - that the Earth operates as a single, living organism- has had a profound impact on the development of global warming theory.”
Additionally she wrote that “Unlike many “environmentalists,” who have degrees in political science, Lovelock, until his recent retirement at age 92, was a much-honoured working scientist and academic.”
As for myself, I never knew that was the case, however, now this whole global warming hubbub makes far greater sense. Because although I thought it was a political issue all along, I thought it was left-leaning scientists actually leading the cause.
Lovelock himself is well-credentialed and his inventions have been used by NASA, among many other scientific organizations. His electron capture detector in 1957 first enabled scientists to measure chlorofluorocarbons and other pollutants in the atmosphere, leading, in many ways, to the birth of the modern environmental movement.
But here’s the most interesting part to me, from Goldstein’s article: “Having observed that global temperatures since the turn of the millennium have not gone up in the way computer-based climate models predicted," Lovelock acknowledged, “the problem is we don’t know what the climate is doing. We thought we knew 20 years ago.”
He went on to say in a follow-up interview to the UK’s Guardian newspaper that while he "still believes anthropogenic global warming is occurring and that mankind must lower its greenhouse gas emissions, it’s now clear the doomsday predictions, including his own (and Al Gore’s) were incorrect."
So, what we have here is another example of one of my recurring themes. Follow the money, and in time you’ll surely find the truth. And in this case, the grants and government funding's were so huge a whole planet of people were impinged upon by a few self-serving zealots who wouldn’t quit although knowing full well they were wrong. In fact, these folks are so deceitful, they could easily get to the top in politics, where all they’d need to create is another phony cause.
That’s it for today folks.
Adios
Goldstein reports that Lovelock’s “implications were extraordinary.”
According to her, he’s “a world-renowned scientist and environmentalist whose Gaia theory - that the Earth operates as a single, living organism- has had a profound impact on the development of global warming theory.”
Additionally she wrote that “Unlike many “environmentalists,” who have degrees in political science, Lovelock, until his recent retirement at age 92, was a much-honoured working scientist and academic.”
As for myself, I never knew that was the case, however, now this whole global warming hubbub makes far greater sense. Because although I thought it was a political issue all along, I thought it was left-leaning scientists actually leading the cause.
Lovelock himself is well-credentialed and his inventions have been used by NASA, among many other scientific organizations. His electron capture detector in 1957 first enabled scientists to measure chlorofluorocarbons and other pollutants in the atmosphere, leading, in many ways, to the birth of the modern environmental movement.
But here’s the most interesting part to me, from Goldstein’s article: “Having observed that global temperatures since the turn of the millennium have not gone up in the way computer-based climate models predicted," Lovelock acknowledged, “the problem is we don’t know what the climate is doing. We thought we knew 20 years ago.”
He went on to say in a follow-up interview to the UK’s Guardian newspaper that while he "still believes anthropogenic global warming is occurring and that mankind must lower its greenhouse gas emissions, it’s now clear the doomsday predictions, including his own (and Al Gore’s) were incorrect."
So, what we have here is another example of one of my recurring themes. Follow the money, and in time you’ll surely find the truth. And in this case, the grants and government funding's were so huge a whole planet of people were impinged upon by a few self-serving zealots who wouldn’t quit although knowing full well they were wrong. In fact, these folks are so deceitful, they could easily get to the top in politics, where all they’d need to create is another phony cause.
That’s it for today folks.
Adios
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