First thing done around here, most mornings, is to look through reader comments, This morning, hats off to reader Ray, who has been so kind as to write this morning’s column for me, whether he knew it at the time, or not. Because it really IS all one needs to know procedurally about the political blender running in the District of Corruption:
“For the dimwits: The House draws up “Articles of Impeachment,” which is the Congressional equivalent of a judicial “grand jury,” where allegations of wrongdoing are defined and delineated. The House then votes on the Articles, and if any are found to have validity, by a recorded 2/3 majority in a single roll call vote (no do-overs), an “Impeachment Hearing” is convened in the Senate.
“A Senate Impeachment Hearing is the Congressional equivalent of the judicial “Appellate process.” Only Articles passed by the House’s 2/3 majority may be considered, and only evidentiary matter introduced in the House proceedings may be entered into evidence for the “Prosecution” (the Senate.) At the conclusion of the Hearing, the Senate conducts a single recorded roll call vote (no do-overs.) If a 2/3 majority votes to convict, the defendant in the proceeding is immediately removed from office, and the next in-line for that office is sworn-in. If a 2/3 majority is not reached in the roll call vote, the defendant is acquitted, and any legal or Congressional sanctions placed on him(her) immediately lifted.
“As a comedic aside: Should Mr. Trump be subject to an impeachment proceeding and said proceeding run into the Election period (which would guarantee his re-election, BTW), if he is successfully impeached, and the Senate vote occurs even one second after he’s sworn in for his second term, Mike Pence would not only become da Prez, but would fall through the loophole in the “FDR Amendment” and become eligible to serve 12 years as President…
“I find the “whistle-blower report” very troubling. I find it very troubling that an IG (or any other investigator) would accept ANY secondhand commentary as EVIDENCE of anything, and I find it very troubling that not only was it leaked to the NYT, which ran with it completely unverified, but that every pub on the Wire also picked it up and ran with it, unverified.
“The first pulp reference to it I personally saw, was the Page-1 Headline in USA Today. USAT is centrally written and composited, then sent to newspaper affiliates nationwide, encrypted, through CLARINet, for regional publication. (This is why the USAT you buy in Cleveland, or Memphis, or KC, or LA is identical to the one you buy in DC, and how they hit the newsstands across the country at substantially the same time.) They typically shutter the compositing room at 1700, yet the writeup on the “whistle-blower” managed to get written (from the, at the time not-yet released NYT article) and composited to Page-1 “above the fold.” How does a newspaper do a wrietup on an unreleased story they didn’t originate? How is that possible? People with even the slightest grain of integrity and common sense, know. People lacking these, never will…”
Welll said! Further assessments from (logical, clear-headed) readers include mention that the Wall St Journal is coming to terms with the idea that Poka-Warren would not be good for business. And that when comes down to it, the democrats are radicalizing themselves out of a win in 2020 and beyond.
But why stick with laws and facts? The big fish-wrapper in Gotham is loading it’s front page with all kinds of innuendo attacking Trump. Like the DNC, which was hip-deep in this Ukraine story, they not only don’t seem to remember that HRC lost in 2016, but they want anyone but Trump in 2020.
I don’t think people east of the Mississippi realize how many millions voted for Trump as really a anti-vote against the Obama-Clinton cartel. And since the cartel is still writhing, will do so again rather than vote for the communist insurgency put-ups.
The one irony: We’d love to see the dems rush to judge Trump. Because even if he were to lose an impeachment vote in the Senate, if it happened before the 2021 Jan swearing-in, Mike Pence could be a short-term president pro tem for however long. Then, Trump would be back for Term #2.
The media is so baked in their own hate, that all we can do is watch the markets, and “trade the idiot spasms.” As an example, take this “frenzy trade:”
Into one issue (1000 shares) at $17.0199 3:32 PM Wednesday. Out at 10:15 AM Thursday at $17.2438. Which doesn’t look like much (22.39 cents a share), But, slide the zero over one place to the right (it becomes dollars) and you get enough for lunch, dinner, and a bottle of $3-buck chuck plus tips and parking nmwith less than 2-hours of market exposure.
You go crazy people! Bring on them “swings!”
The trouble is doing this consistently. But that’s the joy of mood-swing trading. Definition: day-trading is in and out during the same session, swing trading goes into the next day and doesn’t land you in the FINRA Pattern Day Trader category.
More details on how this is done? Cory Mitchell, over at The Balance, has a good discussion of the technique in “How to Day Trade With Less Than $25,000” which is worth your time.
As I’be become fond of saying lately: AmeriTrade and E-Trade are much closer than Las Vegas and the odds are better. No TSA, better drinks after, cheaper food….and I can pinch the help here, lol.
By the way, does Gamblers Anonymous have a Wall St. group? Always wondered about that…
Fed Taking Things UP?
The stock market MAY be take a month-end breather, but the reason for the recent rally is clear if you look at the Federal Reserve weekly H.6 Money Stocks report.
There are two “sliding windows” in the report. Table One that ends on a monthly basis, and Table Two that is only a couple of weeks old. When you get late into a month, like where we are now, you can look at the “monthly” window, which presently ends on the last day of July and compare that with the closer-in window which ended September 19th.
In the early window, the M1 print rate was 5.9% (annualizing the most recent 3-months back then).
The later window, shows the M1 print rate at 7.1 percent annualized. So, despite president Trump calling out the Fed on rates, seems to us they have been reasonably accommodating, and other than the recent glitch in the short-term markets by the NYFed, they don’t seem to be screwing up.
Global Cash Attacks Ramp Up
While it seems the US Fed is making a wise choice is avoiding negative interest rates by using other policy tools. Negative rates are really an outright attack on people’s saving by banksters colluding with the European Union.
“Dutch consumers will start paying interest on their savings accounts in the near future, various analysts told Financieele Dagblad. They describe negative interest rates on savings as an unavoidable future.“
Any hiding places from such cash thieving?
“The cash that Dutch banks keep and are required to deposit at the European Central Bank currently costs them more than half a billion euros per year, due to the negative deposit interest rate. “Dutch banks together have 138 billion euros in surplus liquidity, and they pay 0.4 percent on that”, Elwin de Groot of Rabobank said to FD.“
Which is why it’s being reported that banks will begin charging customers to hold savings on any more than 100,000 euro shortly. They’re just passing along their pain – a pain entirely made-up by misfeasance in government.
Negative rates is economist lingo for “Stealing Your Savings” – it’s just that few are so clear in their thinking as to call it out.
Point is, with negative rates, would you pay a bank to hold your money? Or, would you opt for a free storage device? Like, oh, stuffing a mattress, for example! Depression-era Americans weren’t stupid, you know. The consumer is ultimately logical. Mattresses packed with money were a learned behavior when banksters were thieving.
Meantime, all those warning’s we have given you (and to several posters here who inexplicably love bitcoin, the world’s 100% perishable play-money) may be coming to roost. Our condolences to bag-holders this morning as Bitcoins are down to $7,980 when we looked.
Facts aside, we’re sure the “buy the dips mantra” will fire up shortly. Like cicadas and other insects here in the South, the noise from the crypto-pimps comes up around mid-morning.
DDDD (Daily Double Data Dose)
Durable Goods and Personal Income. Durables first.
From the Bureau of Economic Analysis:
“Personal income increased 0.4 percent in August after increasing 0.1 percent in July. Wages and salaries, the largest component of personal income, increased 0.6 percent in August after increasing 0.2 percent in July.“
Then the “punchline” of it all:
Personal saving was $1.35 trillion in August and the personal saving rate, personal saving as a percentage of disposable personal income, was 8.1 percent .
We can hardly wait for additional data next week.
Monetization Wars: Apple will seek theater deals for movies before streaming: WSJ.
Friendly Skies? Japan Airlines introduces ‘child icon’ tool to help passengers avoid sitting near young children. Like on a different flight, maybe?
No money in peace is proven again. Because Oil Tumbles On Report Saudis Agree To Partial Ceasefire With Yemen.
And clicky birthyday! Google’s 21st Birthday: CEO Daily.
Around the Ranch
Busy day around here today, OMG!
As soon at I click “Publish” it’s off to “mount up” on the Kubota to move some small limbs that were trimmed earlier this week between the house and office.
Then it will be time to strap-on the Husqvarna back-pack leaf blower. Yessir, that time of the year again.
Following that, putting up a few new picture frames in the office. Then some finishing touches on a pictorial for Saturday (ham radio, Morse code keys is the topic) and then writing Peoplenomics for tomorrow morning.
The most dangerous part of the day? Well…a new Harbor Freight mailer has come in. If you want to see an all-time epic battle of self control, watch an American Male Toolk Slut with five-figures in checking and no debt plus 30-acres to put things, flip through them pages… Sand Blasting cabinet, maybe?
Eventually, might be interesting to have an in-depth “Leaf it alone” discussion. If you leave the leaves (so to speak) on the ground, they block the light and kill any grass under them. We have three leaf blowers as a consequence.
The Husky backpack is the best one for large-scale attacks. It moves the most air. Next one down is a hand-held PoulanPro but it’s not as powerful as the Husky. Third choice is the Toro electric leaf blower. Which does about the same job as the Poulan in terms of air movement. It’s better on the environment if you don’t count the coal-fired generating plant which no one seems to… But dinking around with two 100-foot entension cords is not my idea of an “ideal weekend.” And when it’s wet of raining? Two-cycle weather’s what we call it.
All blowers make about the same racket, so we buy those foam shooting earplugs by the gross. $9-bucks for Mack’s Ultra Soft Foam Earplugs, 50 Pair – 32dB Highest NRR, Comfortable Ear Plugs for Sleeping, Snoring, Travel, Concerts, Studying, Loud Noise, Work. Elaine’s been known to use them in the house, too. She hates the noise of vacuuming. My answer (“Just do it twice a week, then...”) doesn’t fly. She’s a wee-might more particular than Mr. Barely Housebroke.
That’s the workplan here for the day…Overnight low temps in East Texas haven’t dropped below 70 overnight yet and may not til October.
Ever wonder how much of “climate change” is just normal variance; Summer coming late, staying late some years? Like this one…
Oh, and Ray: Great column!
Write when you get rich,
firstname.lastname@example.org (the groundskeeper, I-9 on file)