President Trump is barking up the wrong tree in calling for the Fed to lower rates a full 1%. This morning, therefore, a short discussion of how and why he’s wrong and what it means on what could be a “Turnaround Tuesday” to the downside, if animal spirits of markets should turn today.
In the early going, we already see that Gold is rebounding a bit on the future’s markets and the problems elsewhere in the world are far from resolved, particularly in Germany where recession looms and Deutsche Bank may be needing a major bailout this fall. We’re in a time, as described in the Monday column, when an analog to the Four Horsemen are riding.
Concept #1: M.E.D. Yes, thanks for the well-wishing and all, and yes, my 2-week post-op surgery check for the hernia mesh implant on 8/2 went splendidly. I previously shared part of the “Ure quick-healing protocol” on the Peoplenomics site and the good news is, it doesn’t seem to have hurt and as 70.5 year old semi-sedentary males go, recovery is doing very well.
While I was researching on my quest for “super-healing” I was careful to be mindful of a medical phenomenon called minimal effective dose, or M.E.D. (MED) for short.
Applied to one of my Complimentary and Alternative Medical (CAM’s) approaches (LLLLT/PBM – low level laser light therary/photobiomodulation), you need a certain amount of light to promote healing, and yet – if you apply too much – the healing effects roll off. Even more important is that extrapolated wildly by someone not versed in the science, too much light therapy can roll into cooking and that’s not the goal!
The “magic number” is in the 4.2 to 4.6 Joules per square centimeter range. Too much is bad and too little does nothing.
“What the Hell is Ure Point about Trump???”
There are people whose thought-pattern is “If a little is helpful, more is better, then really heaping it on must be great!” Unfortunately, that gets us into the “cooking range” which phototherapy. And it gets us into Depression-Inducing when dealing with interest rate decreases at the end of an 11-year economic expansion since the market lows in 2009 which all arose from the peaking of the irresponsible, Greenspan-induced. No-Doc Real Estate Loan bubble. That peaked in 2006-2007 at which point it collapsed (aided by the implosion of collateralized mortage obligations. The collapse was most articulately spelled-out in my friend Howard Hill’s book “Finance Monsters: How Massive Unregulated Betting by a Small Group of Financiers Propelled the Mortgage Market Collapse Into a Global Financial Crisis.”
Trump’s Thought Error?
The misdeeds in finance that led to the Bubble collapsing in 2008-2010 were actually sowed ahead of the peak. Which means that when the peak passed, the wreckage strewn in the aftermath revealed the many misdeeds of financial engineers.
It was not so much an engineering failure, however, as a policy-environment misunderstanding.
The financial engineers did either math exactly right. But, what changed was the public confidence and outlook.
A useful thought-exercise would be to roll-your thinking back to 2006 and ask “What would have been the eventual ripple-effect had the Federal Reserve taken pre-emptive steps to extend the blow-off top in housing? I, for one, think the answer is pretty clear: It would have resulted in an even larger crash effect.
Specifically, in the lead-in to the crash in Housing, we only saw a limited number of market players taken down. As Wikipedia reminds:
“A financial crisis had developed throughout 2007 and 2008 partly due to a subprime mortgage crisis, causing the failure or near-failure of major financial institutions like Lehman Brothers and American International Group. Seeking to prevent the collapse of the financial system, Secretary of the Treasury Paulson called for the U.S. government to purchase about several hundred billion dollars in distressed assets from financial institutions. Paulson’s proposal was initially rejected by Congress, but the ongoing financial crisis and the lobbying of President Bush ultimately convinced Congress to enact Paulson’s proposal as part of Public Law 110-343. “
Our thought experiment (stand back, your head may explode from thinking this much) would have president Bush arguing to substantially cut rates in 2006-2007 has resulted in?
Seems to me reasonable that competitors in sub-prime in addition to Lehman and AIG would have seen the “profits” from the sale of CMO’s and would likely have increased their exposures. And given a cooperating Fed, that MIGHT have led to additional failures when things began to hit the fan. More people would have been playing at larger stakes in CMO’s.
It’s easiest for a numbskull like me to generalize such equation-rich thinking as an analog to maximum effective dose calculations. Like in chemo…a little bit is good, a little more though and the patient is poisoned and dies. The “hair falling out” is about all the further you can dose, you following?
Trump’s Missing M.E.D. Calculation
I have known and interviewed perhaps a half-dozen billionaires back in “news life” and they all have one thing in common: The “More is Good, Most is Best” mentality.
What they generally don’t quite understand is that the same commitment to future and Going Big that eventually makes them several billions of dollars also will likely drive three to six personal bankruptcies along the way.
There are some who struck me as particularly mindful of this tendency and they were extremely prescient in their business expansion planning. People like Edward DeBartolo, Senior come to mind (from that era).
That era past, however, the modern trend in leveraged asset expansion seems to include diversification into multiple legal entities in order to “firewall risk.” But, this also has the side effect of making the management (and tax compilations) of so many entities mind-bogglingly complex. Which is what the Trump Organization seems to be a poster-child for.
Let’s Generalize the Problem
While there has been an evolution is how billionaires are “spawned” in America, there has also been a concurrent rise in the number of bankruptcies that have occurred because of the excessive risk-taking employed to “rise to the top.”
The problem for a national leader mindset, as differentiated from the go-go developer mindset, is that these United States can not be thought of in the same context as hotel, business complex, or golf property. Instead, it’s a country and as such, while sure, it has customers, many of which are supportive of the Trump positions, there is also the “rest of world.”
Therefore, I sense the “under-appreciated risk” that Trump may be under-estimating in his calls for immediately lower rates from the Fed might be distilled down into two categories.
- Runaway financial expansion. This is the case where even at the top in 1929 (and 2006-2007) there were still additional (excess) new partnerships and ventures being formed which could, when the tide turned, become national liabilities. In other words, if you attempt to control the economy, it’s like trying to control a runaway horse…no telling where it will land you.
- Lack of Remediation Maneuvering Capability. When the Crisis Arrives. Recessions, Panics, and Depressions are all a natural and recurring part of Business Cycles in a free-market (or semi-regulated) economy. If we lower rates now toward the “ZLB” (zero lower bound),. that just ensures that when Crisis arrives negative rates will be deeper and longer.
There is another major factor Trump’s (I believe misguided) calls will produce.
Consumer Reluctance
What we are seeing (broadly) in the news flow today is the politizatioin of economics. Trump may have a business degree, but he’s got nowhere near the future financial modeling capacity of the Federal Reserve. He’s likely looking at the election in 2020 and realizing that odds are growing that we could be seriously sliding toward recession by next spring.
What’s worse, and should be seen as pollicization are the growing number of democrats who are chanting “Here comes the recession!!!”
I give Trump credit for getting the assessment right. It’s just his medicine is like sending a patient to chemo for a hangnail. Recessions are the normal flip side of expansions. Diddle with ’em too much and Depressions can arise, especially in global trade wars like the 1930’s. Hoover is the template for Trump Errors.
As the Congressional Budget Office pointed out in their annual assessment back in January (we covered this recently on the Peoplenomics side), the growth in the economy was due to begin slowing as the stimulative results of the corporate tax cuts tapered off, along with the end of onshore capital flows.
Trump’s real problem is he’s not put forth either a Grand National Goal (as Kennedy did with the Man on the Moon withing a decade…) NOR has he articulated a meaningful tax-strategy to preferentially tax American companies that are soley manufacturing in the US versus multi-nationals, except as provided for in the corporate tax bill which is old news.
I’m pretty sure he’s hoping that if there’s enough “free money” laying around that some companies (like Apple) will go for the bait and will move large portioins of manufacturing back to America. Notice, though, it ain’t happening?
Unfortunately, it’s not that simple. That’s because states and municipalities then become key to placement of new manufacturing assets and that sets off a nuclear chain-reaction (exchange) of competing tax bonuses and that, in turn, reduces local revenue (per capita) which then drives up the tax rate that must be laid on the “victims”.
Oilman 2 was by a week, or so back, and was pointing out all the growth down in his home town (The Woodlands, TX) and guess what? With several hospitals and what is it… four major corporate HQ’s going in (Shell, for example), what’s happening? Local property taxes are through the roof. In other words, who’s underwirting the expansion?
Ditto the case of the “on fire” real estate markets like Seattle. Daughter 2 called as I was wirting this and said 5-years ago she could get a dandy apartment for $600-bucks. Today, the same place is in the $1,800-$2,000 per month range. Lay that, too, at the feet of expansion.
What Trump’s pressing for – taken as purely economics – is a rate drop that would continue the maldistribution at leastg into the 2020 election. He’s got to do it from a political perspective, but did you see this morning’s CNN headlines about a coming larger trade war with China? This is viralizing…
“Trump Is Losing the Trade War With China ” declares the Wall St. Journal.
So, while an hour before the open, the Dow futures were still +28, we won’t be surprised should this turn into a “Turnaround Tuesday” and when the direction of the economy is being politicized, there’s no happy ending we can see.
Trump getting lower rates might get him re-elected but only to preside over an imploding economy. OR he can let events run but risk losing 2020 depending on how hard and far we fall.
A little hemlock in your coffee?
Unless, like me, you enjoy considering the short side of markets.
Head over to ex-Fed Boss Ben Bernake’s site and re-read his February post “Evaluating lower-for-longer policies: Temporary price-level targeting.”
The president needs to pay particular attention to the risks of extending lower rates especially preemptively in advcance of a crisis: As Depression scholar Bernanke writes:
“So what could go wrong? A potential issue with lower-for-longer policies, including TPLT, relates to their credibility with the public. To an important extent, these policies work by affecting the public’s expectations about the future course of policy and the economy. For example, in theory, committing to keeping rates lower for longer should encourage extra spending today both by reducing expectations of future short-term interest rates (which in turn should lead to lower current longer-term rates) and by raising expected future inflation. But in practice, people may not understand or believe the Fed’s promises about its future behavior, that is, its promises may not be credible. That lack of credibility could cause lower-for-longer policies to work less effectively than advertised.”
Lower rates will drive people to holding back on consumption of things like home purchases at some level. “Rates are coming down…” They’ll cite Trump.
The view from East Texas is that all that really happens under Lower for Longer (L4L) as Bernanke and colleagues have described it, when applied preemptively, is a change in the “sink rate” on a glide path approach to global calamity.
Even Housing economics dynamo “Robert Shiller says the Fed’s rate cut had the opposite intended effect, sparked recession alarm.” What obvious to some, ain’t obvious to all.
Trump’s maneuvering controls of the economic airplane, hoping for no crash-landing until after 2020 polls have closed, is foolish. A steady-state against this backdrop, dear reader, is becoming an economic long-shot if there ever was one.
Meanwhile, in Other News
Soviet-style thinking is back as “Rocket Explosion Not Your Business, Russia Tells Nuclear Test Ban Monitor.”
Kidnaping and Hostage-taking as a growth model: 37 people are being held by a runman in Rio. Our big historical rhyme with the 1930’s should see a Lindberg-like kidnapping in 2-4 years. Kidnapping likely to grow ahead of that.
Govt. Vs. Govt. We don’t think TSA will be happy with unscannable metal containers, so prepare the popcorn for fallout from San Francisco airport rolls out ban on plastic water bottles. Gosh, have you had your daily dose of parting compound ingested?
Wall St. on drugs? “cbdMD, Inc. Achieves Further Recognition With Addition To The Cannabis ETF (NYSE: THCX)” Do people trade shares of that, or roll them?
Shades of Digital Terror to come: Ransomware Attack Hits 23 Texas Towns, Authorities Say. Related? Our Anderson County 9-11 service was down over the weekend..
Off to work on Peoplenomics for tomorrow…Futures at click time up only 21 on the Dow…
Write when you get rich,
george@ure.net
My indicators are still bearish. Both the NASDAQ Composite & NASDAQ 100 bumped up against the 50 day simple moving average again but closed below it (bearish).
Trump’s 1% reduction is another of his blustering statements that cause market volatility & Deep State profits. Is This a scam?
Regarding parting compounds, the release agent(s) is usually blended in with the base plastic and molds are kept at a consistent temperature to insure proper release.
Scott… I love molding things.. years and years ago I helped install and operate the very first extruder in our area..really interesting stuff…I still show the kids how to mold things.. last year we did Hollow chocolate easter eggs and you are right on to.. if the chocolate was to cold or to hot.. you had a mess to clean up….
Trump, after squandering his first 2 years with control of both houses, serves now as a buffer against the Socialists. Immigration & Infrastructure have gone nowhere. He is just huffing & puffing over Tariffs & Interest Rates because he has more control over those. Keeps him in the news as a powerful leader & he likes that kind of exposure.
The Steel Tariffs have not worked, U.S. Steel stock down 73%, price of hot rolled coil down 37%
https://www.cnbc.com/2019/08/19/us-steel-plans-to-lay-off-hundreds-of-workers-in-michigan.html
George, you are spot on this time…The only thing I will add is that Trump is only concerned about one set of outcomes…polls, ratings and his power. To hell with the consequences. He has mostly failed in every campaign promise he made. He had a chance to really do something about immigration and even the metaphorical “Wall” prior to 2018, when he had a GOP controlled house. He mismanaged that. He had a chance to make a difference with infrastructure, but that has yet to get off the ground. The tax plan failed miserably for his base and large market home owners, but sure has fattened the profits of corporations and the rich…where is the trickle down?
Trade is a disaster. He dismantled NAFTA , but his new proposal is just another NAFTA…branded of course to his name. The TPP was destroyed and reinvented sans the US and our dealings with China is now a protectionist trade war.
Although obvious to everyone but his base, it is no surprise Trump has been relatively ineffective in negotiating at this level. It;s one thing to negotiate the price of hammers and contractor cost over-runs, it’s another to deal on a world scale.
Is there anyone else but Mark Sanford that can come out a rescue the GOP from this embarrassment? Anyone?
I’d be careful on blame assignment, Mark. In an overview, externalized, sure, Trump failed to capitalize. On the other hand, it could be argued that he never really had a chance what between the left’s haranguing on the “collusion” charge (not proven) and the Hillary should have won. Trump didn’t stand a chance due so much to the anti-Trump, Bush orchestrated anti-Trump RINOs on the one hand to the Jarrett/Obama cabal calling in the shots from the sidelines to embedded elements of the deep state on the other.
Did I mention conspiracy to delay appointments?
The short synopsis is that regardless of who the lynch mobs of digital mob rule convict and hang, it’s the damn country that has been decimated at the psychological level.
Gone, I regret are the days of the “best candidate” and instead, it’s the candidate that can motivate and propel the largest and most angry mob, regardless of the righteousness of their battl3e cry.
Which, frankly sucks and it’s why within 15-years Chinese will be patrolling our streets.
Sadly, as Rocky was it? Said: We could’a been contenders.
Coulda,. shoulda, woulda, might’ve….
RED DAWN MOVIE: In an alternate 1980s, the United States stands alone as communism grows stronger. When Soviet soldiers invade a small Colorado town, brothers Jed (Patrick Swayze) and Matt Eckert (Charlie Sheen) escape with friends to the forest. With their father, Tom (Harry Dean Stanton), a prisoner of the invading army, the children decide to fight against the Soviets. As the country comes under increasing attack, the group teams up with Lt. Col. Andrew Tanner (Powers Boothe) to take back their town.
When the going gets tough, the US gets tougher. Never underestimate our deplorable citizens. They are independent minded & not government controlled like the Chinese. You can’t defeat that permanently, only temporarily.
We have to wonder if the GFWoC (great firewall of china) has blocked such sedition streaming for the resident victims of HK? Promises broken but for the pervs of the crown (Andrew and others) broken promises and illusions of fealty are something of an ongoing joke.
You said…”The short synopsis is that regardless of who the lynch mobs of digital mob rule convict and hang, it’s the damn country that has been decimated at the psychological level.”
Amen to that!
Red Dawn 1 plot involves Cuban troops with Soviet Spetznatz advisors invading the U.S. from Mexico using commercial airliners. The story line was the Wolverines trying not to starve. They were led by a young adult hunter (Patrick Swayze).
Red Dawn 2 plot involves North Korean troops invading the Northwest U.S. after deploying a secret EMP device. The subplot was the Wolverines’ attempts to get one of the control devices. They were led by an Iraq War vet (Chris Hemsworth).
If you like invasion movies, I recommend the online movie, “Dragon Day” (a.k.a. Invasion Day, https://www.youtube.com/watch?v=ybJzNgNS57c). It’s low budget and was supposed to go mainstream but it’s story line cut a little too close to home… Perhaps you remember the news stories of U.S. fighter jets with Chinese circuitry in them? Anyway, the story is about a Chinese takeover of the U.S. after a cyberattack turning off all electronics using Chinese-made circuit boards or chips which basically means everything… The point of the movie was to emphasize what a 21st century stone age looks like…
Given Trump was not ‘cut from the same cloth’..as those before him were .he was presented with ‘choices for his administration’…MOST were ‘cut from the same cloth’..and worked not for him and this country,but for their’ masters’….the ONLY thing that can come from TRUMP’s time in office is ..INDICTMENTS of the traitors’cut from the same cloth’….if none are INDICTED…then we are ALL going to be ‘subjected’…to those ‘cut from the same cloth’….and that is where many will understand the true meaning of the 2 nd A…..since those ‘cut from the same cloth’ loath freedom and liberty and free will…..Semper Fi
3 copycat mass shooters caught due to public’s tips :
https://www.usatoday.com/story/news/nation/2019/08/19/mass-shooting-plots-thwarted-connecticut-florida-ohio-police-say/2048855001/
domestic terrorism not a priority under current administration:
https://www.cnn.com/2019/08/07/politics/white-house-domestic-terrorism/index.html
“Red Dawn 1 plot involves Cuban troops with Soviet Spetznatz advisors invading the U.S. ”
Lol lol we can watch it live on the evening news..lol lol except the plot is changed slightly.. instead of Cuban troops parachuting in we have refugees where everyone came out and told us up front their intentions..with the droplets in congress crying and wailing that we are inhuman for wanting refugees to enter legally.. if nancy really wants them then sponsor them accept responsibility financially for them and legally for their actions..
The other thing that you rarely hear about is we dumped our ports.. we only check a few containers and rely on almost 98 percent of everything from someplace else.. there was a sub just off the san fran coast not that long ago and how many klub k containers are sitting in some storage yard as factions set up camps one soldier at a time. The kicker is Congress wants the hard working Americans to pay there way lol lol lol..
I myself am not to concerned about an EMP mostly because there would be mutual retaliation. Even though they are more prepared than we are. My thoughts are it would be more subtle.. or happen right at winter time..
Research low level pulse modulations on deep earth.. and earthquakes.. let the special people go into their deep earth tombs and the population die off then enter as the welcomes saviors of the remaining 3 percent of the population.
“Perhaps you remember the news stories of U.S. fighter jets with Chinese circuitry in them? ”
Joe good point.. not to mention out stealth bombers that had control panels ..enough that iran was able to take control of our most secret one in mid flight and land it..
Or how about the guidance systems for our missile defense system that had tainted chips that would relay micro bursts of information out to some undisclosed place..
Or bullets where our shells are produced where.. how many millimeters off does one have to be.. or oh you could go on forever..we buy everything from where.. no industry so..NOT HERE .. is the answer..
HI George,, Contenda,,, It was Marlon Brando in On the Waterfront..
Is Tesla stock ready to turn the corner?
Oct 2013: Elon Musk bought James Bond’s iconic Lotus Esprit vehicle from “The Spy Who Loved Me”, with the intention of making its movie transformation from car to submarine a reality. The car was bought for £616,000 ($997,000) at an auction in London.
At Tesla’s annual shareholder meeting on Tuesday, CEO Elon Musk said his company has designed a submarine car like the one from the 1977 James Bond movie, “The Spy Who Loved Me.”
Ah, the delusion of a fine engineering mind.
Except for people living in ideal scuba areas (and I’ve gotten wet all three over the years) might I offer than with the exception of Grand Cayman, Turks and Caicos, and that slow-running northerly current off Cozumel from Puerto Aventuras north, that visibility of the water (*and temperature) would drive sales.
Musk might make it to the moon, some day. But we’ve roll a roach and gamble he’s already in “space.”
Markets matter! If it ain’t a sure-fire profit producer why bother with design?
Is new energy about to crush old energy? INVESCO Solar ETF – TAN
One more thing…Trump has been criticizing FOX for not being loyal lately.. “They are not the same FOX News” he was quoted as saying.
I still have friends in the New York/SF Ad Biz…one is a top Media Director now at a large international firm. He pinged me on Social media a few days ago on something I posted and I called him this morning…early my time as I was sipping on coffee and we got on the discussion of my new, meteoric unicorn company and I asked him a few questions about his job as media director in a world of thousands of fragmented media choices. He says the Silicon Valley is in essence the cradle of advertising media distribution in the core 18-49 year old demo among other things.
We then briefly got on the subject of Trumps comment about Fox and he said that Fox IS changing their stance, because Trump’s numbers are trending downward and advertisers are taking notice. Fox is hedging their bet and becoming more centrist in their views to counteract the loss in ratings and revenue they are experiencing in segments that were formerly 100% all Trump, all the time. “It’s a business”, he said. “What did you expect”?
Trump has taken notice and has been on a tirade both verbally and via Twitter express his disappointment with the treatment he has been given on Trump. The love fest is nearing the end of it’s cycle. Sound bite America is on to the next trendy flavor of the moment. Trumps reality show has run it’s course.
Interestingly, I saw a segment on Fox, where Hannity was actually praising CNN’s Chris Cuomo when he had a run in with a guy who called him “Fredo”…not a good name to call an Italian guy…I am Italian…I know. It was on video and Chris, went off on this guy and Hannity defending him.
No, it’s not an alternative universe…it’s called change. It’s starting. And when you hear Hannity talking this way…you bet Murdoch’s more centrist sons, who report to the media conglomerates board of directors and shareholders are driving this messaging. 2020 will be interesting to say the least…
@ FREDO
WOP will get your face punched in…FREDO is nothing , just like FREDO COMO
There never was a Trump/Fox lovefest. It only existed in your imagination. It was just honest reporting. You see what you want to see & the fake news was the well that you drank from. That is why you are confused 80% of the time. I hoped this helped. Good luck with your new, meteoric “Unicorn” company.
it was intended to be a Fox Love-fest all the time…because that was Roger Ailes business plan all along. He was riding the wave, controlling the content…bending Reality to help Trump win and become an us vs. them news site. Trump fit nicely into that contentiousness they preached….until now. Wake up…read everything, piece the puzzles together and you will too be enlightened.It’s all about learning and digesting before you spew nonsense like that ECS. You are smarter than that.
Haha, really? Man, or is it Woman! I noticed Fox changing AFTER the old murdoch son’s changoftheprogramming….they went AFTER Trump and started reporting him in a negative light BEFORE his poll numbers changed (err, hum, yeah, those pesky biased polls). Fox was NEVER all Trump ALL the time! In your MIND!!! Fox has been BOUGHT off and they are piling on the NEVER TRUMP X2 wagon so as to impress themselves on the hard-headed what’s left of the uneasily swayed deplorables. Now, Fox is ridiculous, every segment on Trump is so patently biased. So, FOX will go down the tubes, TOO!
Not buying it. It will be a Trump landslide in 2020. Not one dem candidate holds water. They have no platform of any kind. The dems only know how to rig elections otherwise they would never even sniff power of any kind. The regular joe on the street and smell the rot of the liberals.
“It will be a Trump landslide in 2020.”
Eugene.. he has my vote for sure.. but I ask ..why.. his family his friends anyone that is associated with him personally has been a target..he has endured more than anyone could expect someone to endure.
I give the man a great deal of respect in his ability to get things done and his drive to fix the country he so deay loves. Like everyone DJT has his faults but the positive he displays are way more impressive than the minor human flaws. Another four ye ears would be another trip to hell from the deep state class that is bent on enslaving and destroying the american culture and freedoms we all know and enjoy.
‘I’m here to help you, I’m from the government’…
1. Glass/Stegal repeal 1999
2. Banks and hedge funds loaded up on mbs rated AAA that were full of bbb mortgages, borrowed at 4% and invested at 5% return. No other “safe” returns available because of low interest rates.
3. Credit Rating Agency Reform Act of 2006 turned the AAA mbs back to bbb. Mark to market accounting rules also of 2006 made leveraged collateral evaporate.
The banks imploding, home repos, “our financial system will collapse”(hank paulson), etc. are just symptoms of the 3 above, 2 years later. I don’t know if a 1% cut would have saved Lehman but I remember an episode of The Apprentice that featured The Donald introducing the ceo of Bear Stearns as “the smartest man I know.”… right before the bottom fell out.
Investors are always the same, they will take the low risk option every time. They won’t take a -1% loan if it can’t be invested with out a risk of loss. In 2000, real estate looked like if you didn’t buy as much as you could afford you would be locked out of the rising market. That was after a few presidents spent a lot of years promoting home ownership. The biggest business risk is fickle regulation and it’s easier to lower rates 1% than it is to get competent government. That’s how a home ownership program turns into somebody owning 4 houses when they can’t afford one and bank bailouts turn into executive bonuses.
Also, aren’t Trump’s tax breaks for domestic business and tariffs for foreign mfgrs the same as cities and states giving tax breaks and bending zoning rules to attract big businesses? The crap is being shoveled but the only seat in the house is on the taxpaying side of the fan.
Getting really fed up with all the Trump-bashing coming from “One-Topic Mark”. Let’s be real here….yes Pres Trump had both houses for a while but Paul Ryan stood in his way and McSh*tstain screwed him on the “dump Obamacare” vote. Surprise surprise! At least HE’S not around for any further screwing the pooch.
All this with the backdrop of an actual, down-home, U.S. Coup ‘de tat promulgated by Hitlery C and the DNC.
When you pull back and look at the big picture, Pres Trump has done a fine job and will continue making America great again when he’s elected to another term and all the crooks and criminals who’ve tried to subvert him are indicted, tried, and in Gitmo, or swinging from the gallows on the Capitol steps.
Ditto
faster healing……
Did you see the Harvard Study on the affects of cannabis on cancer.. ( they cheated.. they took the study from Oxford.. I read the exact same thing a few years ago from an oxford study of the affects of cannabis oil on cancers but who cares if they cheated on it right.. at least a dignified institution in the USA is now posting the positive studies)
https://www.health.harvard.edu/blog/medical-marijuana-2018011513085
https://cancerres.aacrjournals.org/content/66/13/6748.abstract
https://www.ncbi.nlm.nih.gov/pubmed/21475304
https://www.ncbi.nlm.nih.gov/pubmed/20516734
http://molpharm.aspetjournals.org/content/70/5/1612.abstract
https://www.ncbi.nlm.nih.gov/pubmed/16908594
http://reakiro.com/2018/04/03/harvard-university-finds-cannabis-cuts-tumor-growth-in-half-in-three-weeks/
https://www.geniescientific.com/u-s-government-cancer-research-project-discovers-marijuana-kills-cancer-cells
Oh hell I could go on all day long LOL.. it eats radioactive waste to.. LOL
And you know the us govt holds the medical rights on weed? Its a freaking joke what the scum in congress do.
I agree 100%, but everyone seems to think their representative is OK. I say vote them all out and start over!
The study I liked was on its affects on pancreatic cancer cells
. Since that is what the doctors were fearing I’m dealing with. Makes me want to move to Colorado or washington state.
The UK has a wonderful diet pill that is made from it to.. unfortunately it’s not available in the usa.
“…everyone seems to think their representative is OK. I say vote them all out and start over!”
Good luck with that…
Ever drive through West Virginia? I don’t believe a body can drive more than 30 miles on any highway, in any direction, without “Robert Byrd” being somewhere within the range of their eyesight. People vote name recognition, and they vote for Congresscritters who “bring home the bacon” in their own State or District, regardless how bad the politics of their “critters” is, with respect to the function, health, or even survival of the Nation. As long as the roads get paved at “home,” the “critters” get re-elected.
“…everyone seems to think their representative is OK. I say vote them all out and start over!”
Dave……First off I totally agree…. BUT… with a 98?% retention rate.. I highly doubt that it will ever happen… the other thing is.. look at how many seats the tea party took when they first started.. because we don’t vote on everyone at the same time we leave half of the tainted seats still there to corrupt the new half.. it took less than three months to get the incoming representatives to dance to the DC two-step.
with fairly recent new legislation they can now be openly crooked and do it legally..
Silly question did they vote out the electoral college?.. I know there was some talk about doing that because our president got in.. and going for the popular vote instead..I have been trying to stay out of the ugly crap.. like the copy paste comments group.. I wouldn’t be to surprised if that is what Mark is doing.. copy and paste his comment from the day or two before into today’s comments since they all sound and look alike.. and usually once someone has seen the information that looks credible then they will keep their initial assessment of a situation.. like legalizing cannabis as an example.. the campaign to make it illegal when it was a major crop in the usa was pretty thorough and even now no matter how many positive aspects there are to the plant the original campaign’s false data holds the more popular image.
still a great site to visit.. I have seen em all.. now they all hate me as im bearish on everything .. gold included.. but here and George is always a dose of sanity and common sense .. good on yah George.. the other guy is roubini but is suppose he doesn’t have a site to flog.. George number 1