Big govt, Economy & Investments, Politics

AOC Caught Lying About “Government Takeover” aka “Green New Deal”

Representative Alexandria Ocasio-Cortez (D-NY) jumped headfirst into her utopian plan to destroy America in the name of climate change, now known as the “Green New Deal,” and she had some tough words for critics on the Right, saying they were trying to “mischaracterize” her impossibly ambitious scheme: “…the Right does try to mischaracterize what we’re doing as though it’s like some kind of massive government takeover.” Then on NPR she responded to the question whether or not this requires a massive government takeover: “It does. Yeah, I have no problem saying that.” It may be time for a Democrat intervention.

Here’s more from The Daily Wire…

Socialist Rep. Alexandria Ocasio-Cortez (D-NY) lied about her “Green New Deal” on Thursday, saying that it is not a “massive government takeover” hours after admitting the exact opposite.

During an interview on MSNBC, Ocasio-Cortez criticized the political Right, saying that the Right was trying to “mischaracterize” her plan.

“One way that the Right does try to mischaracterize what we’re doing as though it’s like some kind of massive government takeover,” Ocasio-Cortez said. “Uh, obviously what we’re trying to do is, well obviously it’s not that because what we’re trying to do is release the investments from the federal government to mobilize those resources across the country.”

Yet this morning, during a radio interview with NPR, Ocasio-Cortez said the exact opposite.

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Big govt, Economy & Investments, Politics

AOC’s “Green New Deal” More Laughable

Nuclear energy. Airplanes. Cows. All are on socialist Representative Alexandria Ocasio-Cortez’s (D-NY) socialist wonderland hit list. The “to-do” wish list is possibly even more absurd and unrealistic. It includes “upgrading all existing buildings in the United States” and guaranteeing economic security for those “unwilling” to work. We kid you not. The vehicle: AOC’s “Green New Deal.” Even more laughable is that AOC has put this pipe dream on a “10-year national mobilization” timetable to achieve. If you want a preview, just look to Venezuela.

Here’s more from PJ Media…

On Thursday, Rep. Alexandria Ocasio-Cortez (D-N.Y.) unveiled her much-vaunted “Geen New Deal,” and it’s even worse than you expected. Among other absurd things, it calls for abolishing cows, nuclear energy, and airplanes, “upgrading all existing buildings in the United States,” guaranteeing “high-quality health care” for all Americans, and spreading the Green New Deal to other countries. Oh, and it isn’t even technically a bill.

Ocasio-Cortez leaked a copy of the “Green New Deal” to National Public Radio (NPR), and her slipshod work in progress is a resolution. Rather than making law, the resolution states the “sense of the House of Representatives.”

House Speaker Nancy Pelosi (D-Calif.) slammed the proposal Wednesday, saying, “The green dream or whatever they call it, nobody knows what it is, but they’re for it right?”

The resolution does not lay out specific plans but calls on Congress to “create a Green New Deal,” which will consist of a “10-year national mobilization” yet to be determined.

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Big govt, Economy & Investments, Politics

House Dems Gear up for Climate Fight

House Democrats are ready to hit the ground running next week when they officially take control of the lower chamber in the new session, and they’re starting with a new and novel Select Committee on the Climate Crisis. The committee will be led by Representative Kathy Castor (D-FL), presently a member of the House Energy Committee, and will focus on “reducing pollution, growing green jobs, and expanding climate-related national security concerns.” Nancy Pelosi explained, “The American people have demanded action to combat the climate crisis, which threatens our public health, our economy, our national security and the whole of God’s creation.” In what may be a momentary instance of brilliance, socialist-elect Representative Alexandria Ocasio-Cortez (D-NY) retorted that the panel “sounds about as useful as a screen door on a submarine.” That May be a bit too generous.

Here’s more from PJ Media…

WASHINGTON — House Democrats are preparing to take control of the lower chamber next week by forming a new Select Committee on the Climate Crisis — but some members of the caucus aren’t happy.

House Minority Leader Nancy Pelosi (D-Calif.), the caucus’ choice for the next speaker of the House, today announced the appointment of Rep. Kathy Castor (D-Fla.), a member of the House Energy and Commerce Committee, to lead the select panel.

“She will bring great experience, energy and urgency to the existential threat of the climate crisis,” Pelosi said in a statement. “This committee will be critical to the entire Congress’s mission to respond to the urgency of this threat, while creating the good-paying, green jobs of the future.”

She called Castor, who has served in Congress since 2007, “a proven champion for public health and green infrastructure, who deeply understands the scope and seriousness of this threat.”

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Big govt, Economy & Investments, Politics

AOC’s Green New Deal Weakens U.S. Against China, Russia

HotAir’s Jazz Shaw is crying foul over congresswoman-elect Alexandria Ocasio-Cortez’s “Green New Deal” for being both a naive pipe dream and also wholly devoid of energy security strategy. Under her “deal,” U.S. energy strategy would be moved as closely as possible to using 100 percent renewable energy. The U.S.’s dominant fossil fuel and nuclear power industries would be abandoned completely. Except here’s the catch: it depends on obtaining “rare-earth metals,” which are in short supply and mostly under the control of Russia and China. So, short of the U.S. colonizing massive asteroids orbiting the solar system in the near future, AOC’s plan would essentially hand over control of the globe to communists. Brilliant idea…or maybe that was the plan in the first place.

Here’s more from Hot Air…

Every time you see congresswoman-elect Alexandria Ocasio-Cortez showing up in the news, she almost always begins preaching the “Green New Deal” that she spoke of endlessly on the campaign trail. Under this plan, we would supposedly move the United States to 100% renewable energy (or very close to it) while shutting down the fossil fuel industry entirely. It’s a progressive wish list item which helped her gain traction throughout the midterms.

But just how “green” is this deal? There are a number of problems with it. For one thing, it shuts down nuclear power (which produces no greenhouse gases, by the way). That’s an element of the “deal” being pushed heavily by Bernie Sanders. Of course, when they shut down all nuclear energy in his home state they wound up having to burn oil to keep the power grid alive last winter. Super plan there, Bernie.

But the bigger crisis we’re looking at with the Green New Deal has to do with our ability to actually manufacture all the equipment required to generate that kind of energy. A new report from Leiden University in the Netherlands reveals one factor that progressives don’t seem to have considered.

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Big govt, Economy & Investments, Politics

CA Has Highest Poverty Rate in Nation

California’s socialist dogma has successfully bankrupted this once prosperous state according to newly released data from the U.S. Census Bureau. The report clocks California at a 19% poverty rate (2017), encompassing 7.5 million of its residents despite a 13.9% national poverty average. The redistribution of wealth by liberals in the Golden State appears to be failing in improving the quality of life, and it’s a trend seen in other predominately blue states, including New York, Oregon, Nevada, Colorado, Illinois, Maryland, Delaware, Connecticut, New Jersey, and Massachusetts, where poverty rates are likewise above the national average.

Here’s more from The Daily Wire…

California is the most liberal state in the nation. It’s also the most poverty-ridden state in the nation.

Newly released data from the U.S. Census Bureau put California’s 2017 poverty rate at 19% — or 7.5 million state residents. That was well above the national average, which was 13.9%.

The Bureau uses a formula called the Supplemental Poverty Measure (SPM), which “extends the official poverty measure by taking account of many of the government programs designed to assist low-income families and individuals that are not included in the official poverty measure,” the Bureau says in its report. The formula also factors in cost of living for different regions.

“There were 16 states plus the District of Columbia for which SPM rates were higher than official poverty rates, 18 states with lower rates, and 16 states for which the differences were not statistically significant,” said the Bureau.

Interestingly, the states where the SPM was higher than the official rate are mostly liberal: California, New York, Oregon, Nevada, Colorado, Illinois, Maryland, Delaware, Maryland, New Jersey, Connecticut, Massachusetts.

 

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Big govt, Economy & Investments, Politics

Russia Ready For Economic Cold War

Russian Prime Minister Dmitry Medvedev was up front Friday, announcing that the former Soviet Union is ready to wage “economic war” against America should President Trump impose tougher sanctions. “I would like not to comment on the talks about future sanctions, but there is one thing I can say: if measures like a ban on banking activities or the use of this or that currency follows, this can be clearly be described as a declaration of an economic war,” Medvedev said. He then went on to threaten a response by ‘economic, political, or other means’. It’s the first direct threat the U.S. has received from Russia since President Trump’s inauguration. But let’s not hold it against them. They’ve gotten used to working with a push-over in the White House during the previous two terms.

Here’s more from Washington Examiner…

Russian Prime Minister Dmitry Medvedev warned Friday that he is prepared to wage “economic war” with America if the Trump administration tries to impose tougher sanctions against his country.

“I would like not to comment on the talks about future sanctions, but there is one thing I can say: if measures like a ban on banking activities or the use of this or that currency follows, this can be clearly be described as a declaration of an economic war,” Medvedev said, according to the state-run Tass.

“And this war will have to be responded – by economic, political and, if necessary, other means,” he said. “And our American partners should realize this.”

The Trump administration this week imposed new sanctions against Russia in response to a chemical weapons attack on British soil that the West believes was sponsored by Russia.

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Economy & Investments, International

Art of the Deal: China Flinches First in Trade War

Last week President Trump made good on promises to force the Chinese into a position of better trade balance after years of currency manipulation and tariffs on US exports.

But the Dow dropped like a rock after fears that US exporters would be hit hard with the negative effects of a trade war with China.

Then came Monday and China flinched. Rather than responding with reciprocal import tariffs on US products, Chinese leaders offered to negotiate better trade deals to avoid a massive fight.

That was likely the entire motive behind Trump’s announcement in the first place.

And the Chinese bit hard.

Here’s more from Newsmax…

Following Friday’s massive losses on Wall Street amid reports of a trade war between the United States and China, the market bounced back Monday after China signaled it is willing to negotiate better trade deals with the Trump administration.

The Dow’s point increase was the largest single-day gain since 2008. The Financial Times reported early Monday morning that China is offering to buy more U.S.-made semiconductors to help reduce the $375 billion merchandise trade surplus it has with America.

Gordon Chang, an expert on North Korea and China, told Newsmax TV Americans shouldn’t worry about a trade war anyway because it would be a one-sided affair.

“Everyone has been worried about a trade war, but we shouldn’t because we hold most of the high cards,” Chang said. “And the Chinese really have no way to win a trade war with the United States if they face a determined American president.”

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Economy & Investments

Winning: Unemployment Lowest Level Since 1973

There’s a curious phrase we’re not hearing much at all now that the Campaigner-in-Chief is playing golf full-time: ‘jobs saved’.

That faux statistic from the Obama administration was part of the so-called ‘shovel-ready’ stimulus that never really stimulated much of anything.

But with a pro-growth, pro-free market administration in place, Wall Street is responding and salaries, investments and jobs are on the rise…actually.

In the midst of the longest growth trend in a generation, jobless claims are now lower than they’ve been since before the Carter administration.

That means more than half of all Americans haven’t seen economic growth like this in their lifetimes.

That’s not fake news.

Here’s more from Washington Examiner…

New applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the Labor Department reported Thursday, the lowest level in nearly 45 years.

The report easily beat forecasters expectations for new jobless claims to drift down to around 250,000.

Low jobless claims are a good sign because they suggest that layoffs are relatively scarce. Federal Reserve officials and investors watch the numbers because they come out weekly, providing an early warning sign of any trouble.

New claims, which are adjusted for seasonal variations, are well below the mark that would suggest that unemployment is going to rise. Over the past year, new claims have scraped multi-decade lows as the jobs recovery has steadily reduced the number of unemployed workers.

The total number of people receiving unemployment benefits, which are available for up to 26 weeks in most states, stayed below 2 million, also near the lowest levels since the 1970s.

And at 4.1 percent in December, unemployment is as low as it has been since the dot-com bubble.

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Economy & Investments, Politics

Yuge: Trump Opens Up Offshore Waters to Drilling

Even before Obama’s war on fossil fuels, offshore drilling has been severely curtailed for decades.

That is until this week after the Trump administration announced authorization of new offshore drilling, including a billion acres in the Arctic.

What’s most significant about this is that the oil bust from a few years ago forced efficiencies among American exploration companies that has them now running lean and efficiently.

And it’s on that premise that many analysts expect American shale to destroy OPEC finally.

That’s BEFORE the offshore drilling option which, when added to the existing shale plays, represents an American energy independence explosion.

Winning.

Here’s more from Hotair…

“Energy superpower” is the same term an S&P analyst used today to describe America’s exploding shale industry, predicting that the U.S. will be a top-10 global oil exporter by the end of Trump’s term. Today’s decision makes that even more likely. The catch: Although righties love the idea of more drilling, voters in coastal states like North Carolina and Florida tend not to because it poses environmental risks (right, BP?) and damages tourism.

A 2016 poll of Florida found support for offshore drilling at 32/47, a steep decline from the 44/39 split of two years earlier. Rick Scott, normally a Trump ally, put out a statement today noting that “I have asked to immediately meet with Secretary Zinke to discuss the concerns I have with this plan and the crucial need to remove Florida from consideration.”

North Carolina and Florida are both crucially important to Trump in 2020 and he has no margin for error in the latter given the influx of Democratic-leaning Puerto Ricans after Hurricane Maria. Maybe it won’t matter, as the new drilling policy is still 18 months away from being finalized and many years away from drilling actually beginning in the new waters given the lack of infrastructure out there right now. But it’s a risk politically.

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Economy & Investments

Mike Galiga: Black Monday Cometh Again

One crucial task of the agile trader is keeping up with market-moving news. One little event anywhere in the world can throw gasoline on the hottest bullish fire OR send it plunging like a barrel over Niagara. In fact, in this ever-more-connected world, hot news- good or bad- may be the biggest catalyst for short-term gains or losses- bigger than traditional fuel like earnings reports, new product announcements and perhaps even FED decisions. Every day I’m consuming headlines like most people consume air. It’s a relentless global hunt for new, short-term profit opportunities that (sometimes distant) world events are presenting to stock & options traders.

To these well-seasoned, “been there and done that” eyes, the pile of evidence in support of the forecasts I’ve been sharing with you keeps building. And note: I work d*mn hard to keep subjectivity & bias out of such reviews, striving very hard to avoid the terrible amateur trap of seeing only what I want to see. I know compromising one’s objectivity is a massive killer of any good trading discipline, so I probably look for counterpoint harder than I look for point.

Nevertheless, I see it unfolding more & more… like the old tv shows & movie prop crystal balls going from smoky & foggy to an ever-clearer picture. Markets are predictable. Markets repeat events again and again and are driven by the same catalysts again and again. The trick to convert market smoke & fog to clarity or even near-certainty is knowing where to look, recognizing the patterns of the past and weaving that with the group sentiment of the present. Big volatility is coming… probably more than we’ve ever seen before. It’s going to be a wildly exciting ride to my medium-term forecast target of DOW 30K. Knowing when to profit on the big bull plays AND, perhaps more importantly, when to profit (not run & hide) on the big bear slides and you can make a fortune… FAST.

Haven’t we seen this movie before?

Yes! Yes we have. During the 1980s, we saw a similar boom in stock values with investors getting hyped up on the apparent record growth rally in the markets. And it was welcomed news after a dismal environment of stagflation with mortgage interest rates in the stratosphere.

But what happened toward the end of that movie? We experienced one of the worst stock market corrections in our nation’s history, second only to the crash that preceded the Great Depression. We remember that day as Black Monday when the Dow Jones dropped nearly 25% in a single day. That crash was precipitated by some market trends that are eerily similar to what we’re seeing today. You might be thinking, “Such as?..”

The Dow’s explosive growth had risen to over 2,700 that summer (remember when DOW 2,700 was a sky high measure of market success?), having closed at its height to a gain of 44% over the previous year. Similarly, we saw the crash presiged by unrest in OPEC with a bust in the oil markets of 50% the previous year. And of course there was unrest in the Middle East and elsewhere, which made market prices highly volatile.

Looking back at those events today, it’s a classic version needing to see the (catalyst) news in all of the right places… and separating noise from the news that would make- or shake- the markets. Does any of that sound familiar? It should because we have much the same conditions setting up here- in late 2017. And that’s why I perked up to the headline that trumpeted David Stockman’s criticism of President Trump’s new tax reform package.

Stockman was the Director of the Office of Management and Budget under the Reagan administration. So he knows what a Black Monday scenario looks like… because HE WAS THERE. And he’s doing the craziest of crazy things in modern politics: he’s calling a spade a spade. That’s something almost no other public figure dares to do: say what he REALLY foresees instead of spinning some almost canned PR message hoping the herd will keep right on ignoring reality. Just ignore that spade. Just keep throwing your money into the same pot. Just keep kicking that can a little further down the road. Oh boy! Haven’t we all seen this movie too many times before?

In a recent CNBC piece, Stockman is quoted with a prediction of as much as a 70% drop in stock prices. SEVENTY PERCENT! If that actually plays out, the DOW would be much closer to that record back in 1987 than the record in 2017. Take a moment and do the math yourself. Where is the DOW today? Multiple that by 0.3. Look at that result. Think about that result. Impossible? Where was it just about 10 years ago when we had the last market meltdown? Is the result and that reality really so far apart one could see it as an impossibility now?

Stockman explained that the economy sees a major correction around every eight years, give or take. It’s been more than that since the Great Recession. He detailed, “There is a correction every seven to eight years, and they tend to be anywhere from 40 to 70 percent. If you have to work for a living, get out of the casino because it’s a dangerous place.”

In the interview he explained the factors that might be creating an inevitable drop in the market. He goes on, “This is a bubble created by the Fed. We’re heading for higher yields. We are heading for a huge reset of pricing in the risk markets that’s been based on ultra-cheap yields that the central banks of the world created that are now going to go away because they’re telling you that they’re done.”

Perhaps worse than that is this other somewhat quiet discussion about unwinding the FED balance sheet. While that could mean a lot of things, I suspect a massive big buyer- perhaps the default buyer that has thrown much of the money at this market to drive it up to these incredible records is now wanting to STOP BUYING and start selling. What happens to any market when enthusiastic buyers become sellers? Only one thing happens there. You can count on it.

If that sounds familiar, it should. It’s essentially what I’ve been saying for months now. The prices of major stocks are hitting records every week which is creating artificial paper wealth that isn’t backed up by anything tangible. I really don’t think it’s the traditional buyers doing all this buying to push the markets higher & higher. I increasingly think it’s mostly ONE buyer- a holy mother of all buyers if you will- and even “she” has now formally communicated that “she” wants to wind down “her” purchasing and flip into selling off some of “her” holdings. Where does that go? Where is the only place that can go?

Yet market records are being realized almost on a weekly basis… and touted hard in every way they can be heard. The herd doesn’t (maybe can’t) listen that attentively… or doesn’t remember the past or recognize how the past repeats again and again… until… in hindsight, the “shoulda, coulda, wish I hads” are flying near the tail end of a swift crunch… or crash. The herd may hear a little bit of such warnings before the event… but fall prey to the much louder allure of “another record day…” perhaps throwing even more money into the pot to try to capitalize on the endless record days that are certainly going to come after this one. How often has ANY stock market gone up and up and up indefinitely? Exactly. “But it’s different this time.” Watch out!

Many people may discount this warning as just another conspiracy theory. Others will freak out and start pulling their investment dollars from the market. But the smart money sees such scenarios as opportunities. Agile investors will make the most of bull & bear by taking advantage of the tools that make money on BOTH. A great tool is also a dirt-cheap one: options. A call option buyer is making a relatively cheap, leveraged bet on a rising stock or market. A put option buyer is making a comparably cheap, leveraged bet on a falling stock or market. A shrewd & agile investor will buy & close call & put options interchangeably… like one is just as good as the other (and it is when used at the right time and in the right way).

Most investors & traders only see the markets through a singular (always bullish) lens. In other words, the only way they see to make money is on the rising side: buy a stock, stock moves bullishly, sell the stock & book a profit. There’s almost a dependency on a perpetual bull market for most people. However, the few that make the MOST money investing & trading work the other side too. They are not OUT doing nothing when the bull cedes the stage. A roaring bear is just as lucrative- often even more in many cases- when one is positioned to make money on such a move.

Do you know how? Do you have a good feel for vehicles like call & put options and how to use them to make money as this market rises AND when it’s falling too? Maybe you think you know a little but are not confident you know enough to actually put such knowledge to good- and profitable- use? If any of that resonates for you, speak up… right now. Email me at Mike@MikeGaliga.com. My team & I are hard at work developing some major new goodies to help individual investors just like you take full advantage of the wild volatility rapidly approaching all of us. Email me letting me know you want to learn and you’ll be the first I alert when our work is ready to be utilized. Don’t be a “shoulda, coulda, wish I had” ever again. My team & I are here to help. Let us.

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