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Was “Bloody Wednesday” just green lighted? That’s what many on Wall Street are concluding in the wake of today’s jobs figures.
The Labor Department reported that the economy created 215,000 jobs in July. That was right in line with estimates, as was the 0.2% gain in average hourly earnings. The last two monthly reports were also revised higher by a combined 14,000 employees.
The unemployment rate also held steady at a seven-year low of 5.3%. Plus, job growth was also fairly widespread by industry. Retail added 36,000, health care added 28,000, finance added 17,000, and even manufacturing gained 15,000 positions.
The fly in the ointment was mining (which includes energy-related activities). That sector shed 5,000 jobs last month, bringing total losses to 78,000 since December. Labor force participation also remained dismal at 62.6%.
But if you add it all up, nothing here was negative enough to dissuade the Fed from pulling the trigger. Policymakers have been hinting more and more loudly that they want to go. Now, they have additional political and economic cover to do so.
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| The U.S. economy created 215,000 jobs in July – is that enough to get the Fed moving on rates? |
So what does it mean for you as an investor? Expect more dislocations! The markets have grown fat, dumb, complacent and happy since 2009, courtesy of massive doses of monetary morphine.
But QE went the way of the dodo here several quarters ago, something I warned about well in advance. And now it looks like we may be on the threshold of the withdrawal of even more easy money rocket fuel. Since investors haven’t had to deal with an interest rate hike in more than nine years (June 29, 2006, to be exact), they could get severe indigestion from the first increase and any that follow it.
My advice: Raise more cash, take some profits, cut some losers, and buckle up. The next year or two could look much, much different from the last six.
In my Safe Money Report, Martin and I have navigated 40-plus years of interest rate-related turmoil between the two of us. I’ve spent my entire professional career focused like a laser on the rate markets. I plan to do my dead level best to help you navigate the coming volatility successfully.
But enough about me. I want to hear what YOU think about the latest jobs news. Has the chance of a Fed hike in September gone up? Down? What market impact do you expect from a rate increase, and how will you re-position your portfolio in response (if at all)? Here’s the link where you can share your thoughts. I hope to see your comments soon.
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The past 24 hours have been interesting over at the website.
Reader Jim weighed in on “cult stocks,” and how he has generally avoiding them in favor of safer stocks with high yields. Unfortunately, given the broad market weakness, even that strategy isn’t paying dividends lately. His thoughts:
“I have always avoided such stocks. I have smugly sat back for years enjoying great capital gains and generous dividends with the ‘boring’ pipeline companies like PAA, KMP, and NGLS. Now all of sudden they are beginning to look a lot like the worst cult stocks. In a word, I’m getting killed.”
Reader Frebon signaled his dissatisfaction with the Iran nuclear deal, saying: “Shame on any representative or senator that votes to let our children and grandchildren deal with a nuclear Iran. We should start accumulating money in a fund that will have the wherewithal to
publicize these miscreants and to ensure they don’t get re-elected, which is all they care about anyway. I think we can go grass roots and fund this in a way that will make these officials understand that they work for the people and not the other way around.”
Reader Will R. said the latest SEC push to publicize CEO-to-worker pay ratios will get a lot of people’s blood boiling. His take:
“If the public or employees knew just how much some of the top level executives really make, plus generous stock options, they might revolt. Trust me, I personally know a few! Some start at $10 million to $20 million. That’s about all I dare to say. This WILL be something to see.”
Finally, on the topic of the Federal Reserve and interest rate hikes, Reader Donnie S. said: “Will they or won’t they? Of course they will … institute negative interest to take one last advantage of everyone that has any money left in the bank.
“The Fed is all about banking and keeping the government spending money. ‘They’ have little to no consideration about the general populace.”
That’s a smorgasbord of comments on a bunch of topics, and I appreciate you all sharing them. I still happen to like pipeline operators, especially after this pullback. But we’ll need to see energy markets stabilize for those names to start rallying again.
As for the Iran deal, it’s in Congress’ hands now – and the news item on Senator Chuck Schumer below goes into a bit more detail. And finally, the Fed is definitely up against a wall here. It has signaled it wants to finally move, but even hints of that are wreaking havoc on the markets – the kind of “Bloody Wednesday” turmoil I’ve been warning about for several months now.
Anything else you want to add? Then here’s the link where you can do so.
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The first of many Republican debates was a relatively raucous affair, with moderators going after Donald Trump (who didn’t back down), while neurosurgeon Ben Carson and New Jersey Governor Chris Christie got in a few zingers and funny comments and others tried to stand out in a crowded field. Marco Rubio probably came off as the most “presidential,” though Jeb Bush tried to do so as well. Your thoughts? Share them at the website.
President Obama lost the support of Democratic Senator Chuck Schumer for his Iranian nuclear deal, a noteworthy setback. Obama needs enough support in Congress to override a veto vote on the legislation, and can’t afford to lose too many Democrats as many Republicans have already announced their opposition. We’ll have to keep a close eye on this as any successful vote to derail the deal would likely help drive oil prices higher.
Legendary financier and activist investor Carl Icahn has built up a $1 billion position, or roughly 8.2% of the shares outstanding, in natural gas exporting firm Cheniere Energy (LNG). The company is almost finished building a nat gas exporting plan in Louisiana, putting it at the forefront of a new sub-industry aiming to “unlock” U.S. gas and get it out to world markets.
Capital One Financial (COF) could bid more than $11 billion for a key piece of General Electric Co.’s (GE) health-care finance operations. GE has been selling off tens of billions of dollars worth of financial businesses to re-focus on its core industrial divisions.
Any thoughts on issues outside of the latest debate? Will Schumer’s opposition sink the Iranian deal? What about Icahn’s latest move – is it a “bottom” signal for beaten-down energy shares? Let me know over at the website.
Until next time,
Mike Larson
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
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Chuck Schumer knows where his bread is buttered. If he were for the Iranianian nuclear treaty his special interest lobbiests would have him for supper!
I am surprised that you though Rubio looked Presidential. I had just told my daughter who missed the debates that I thought he looked like a little pip squeak and out of place. It is interesting that you and I could have such opposite takes on Rubio. Just an observation. I do not like or dislike Rubio.
You may laugh, but he reminds me of Jack Kennedy. Jim
Personally I ignored the “debates”. It sounds, with so many people, more like a circus, a gathering of clowns. Watching the clothes go round in the dryer is likely more interesting. When most of the candidates wake up, look in the mirror, and realize they have not even got a icecube’s chance in Hell and quit then maybe there could be a serious debate on real issues. Until then why bother? I will probably stick with my usual plan and vote NO for president.
iam down to 3 stocks ready to pull out on short notice maybe interest will go up and i willchange
No one at the fed seems to understand that increasing rates when the rest of the world is holding or reducing will result in a yet higher dollar which will negatively impact exports and US dollar denominated profits from international sales.
I understand that last year, when the dollar started increasing against the Euro, Foreign companies moved some of their manufacturing into the U.S., hiring some 70,000 Americans in the process, and helping employment figures a bit. Now, with the buck killing the Euro, I wonder how much of the improved employment is the result. Each dollar profit is that much more in Euros or Yen, after all.
This debate underlined once and for all that this is truly the “Fox News Primary.”
All roads to the GOP nomination lead through Fox News.
Fox News is the GOP gatekeeper, kingmaker, policy clearinghouse and arbiter of party orthodoxy.
To reinforce the point and assert its control over the proceedings, Fox News actually began the debate with the administration of a GOP loyalty oath, requiring all candidates to raise their hands and vow their support of the party under the oversight of Fox News.
This is the first time in American history that a political party loyalty oath has been administered by a television network…!
This is truly a frightening development in the history of our democracy.
When will America ever see a media outlet that is non-biased and not beholding to any party…?
In some ways, I agree with your analysis. I thought many of the questions were cheesy as hell. I do agree with you on this one….why should it be up to FOX to question the loyalty of these guys to the Repub Party. Silly. And all the questions picking at their minor past foibles. Enough already, time is limited and that moxnix bs is a waste of time.
We have serious problems in this country: a National Debt that is now pushing $19 Trillion, a growing terrorist muslim army that the rest of world cringes from in fear, a nuclear Iran bent on hegemony and blatant government corruption within our top judiciary and our tax agency.
Actually the rest of the world fears the USA and it’s military which has been hijacked by the fascist Wall Street oligarchs, not some two bit terrorist organization which was originally created and funded by the USA and to this day still receives support from the USA in weaponry and supplies. It’s a dirtily little secret that you will never hear spoken about in the MSM. At least ISIS is contained in the middle east, while the fascist USA hijacked military has over 800 bases around the world and attacks sovereign nations at the drop of a hat, Ukraine being the latest. The USA is the biggest terrorist organization ever to truly create fear around the world.
Sounds like it’s all goNing to come falling down fred. When China gets its money in the world trading deal lights out. For usa .
Kelly accusing Trump of calling someone a fat pig was the most High School move I have ever seen. Carson was also right in pointing out that Clinton may not be the Democratic nominee. Jim
So you think it’s okay to call women fat pigs and, as Trump later did, accuse us of having uppity questions during menstruation?
Now THAT is high school!
I believe like always liberals revise virtually everything… For years now conservatives have used the phrase “…it would make the blood squirt out of your… head… eyes… ears… you chose.”
Trump never used the word menstrual, period, cycle, anything remotely suggestive of menstruation. I listened to the interview. Trump is simply talking in a very calm, conversational voice about Kelly attacking him. He goes on about her vindictiveness and then he described it as ‘blood coming out of her eyes; out of her..(pause) wherever.” There was no change in tone, affect, pitch, pace, in his voice. He said on Twitter he was going to say “nose”. That pause was him thinking… He probably thought “nose†sounded dumb, so he didn’t go with it, and dropped that line of thought altogether.
In any case, there was ZERO mention of anything having to do with menstruation. Listen to the tape yourself progressive revisionist Samantha.
Mr Trump may well face the same grilling when the Clinton team begins in the real debates. Good to see him call her out on political correctness. Maybe it is time to have someone who is not locked into either side as POTUS. We need someone who knows what they are doing and team up with a potential VP.
Well Dr Smith, Rupert Murdoch, conservative owner of Fox, will tell you there’s not money in being non-biased.
Murdoch doesn’t care that much about the profits generated by FOX… He’s more interested in bigger goals like promoting an NWO agenda and trying to be a king maker in the meantime.
Murdoch is bad news. I was doing some reading on who he Supports on his Huge Media Network… From Australia (Where he originates), to Britain to the USofA.
Just about All of the Politicians he Backed have Won the Elections.
Also, he is tied to Rothschilds and it is disturbing how his son also entertained an Executive from NBC.
The feeling I get is there is a Serious Political ‘Entertainment’ Sham going on in order to Divide and Conquer those who are supposed to be Electing ‘Representatives’.
It appears Chaos is being deliberately Inflicted upon the World, as a Means to have Total Control over it.
This guy, David Icke, is Classed as a Kook (Once he brought in Extra-Terrestrials into some stories) into the mix, also appears to be pretty accurate as validated by stories Not written by him.
http://www.rense.com/general96/dicke.html
I found the so-called debates kind of interesting but there are so many candidates, some did quite well and others should be running for lower level offices before jumping the gun to the highest level.
I just long for someone that is honest, intelligent and well spoken. Someone that will close off our porous borders with a wall ala the Israelis ($1.5 million per mile), implement the fair tax, balance the budget before we collapse, stop the rampant corruption and protect us from the insane muslim terror armies.
I found this website that supposedly matches your politics with the closest presidential candidates in ranked order, be they Dem or Repub:
http://www.selectsmart.com/president/
I was a bit surprised at the results when I ran it…. but not that surprised (I matched up highest with a lesser-known candidate that I had not considered). I don’t know how good the details are but it is…… interesting.
You guys need TRUMP,to kick ass where its needed,a business man at last,it will hurt but you all know,you need somebody who knows what the hell is going on,and at least try putting it right,maybe its too late. beside, who would in their right mind want the job with the state your in.Best of luck,AMERICA
Trump is a master strategist. By keeping the third party option open, he forces the Republican establishment to respect his candidacy or face certain defeat. I love it.
Fox went soft on Bush. Bush had the same canned answer so many times I could almost say it word for word. Why did not one of the master questioners ask Bush how he intended to win without the base of his party? He disguised his establishment leanings very well, but he is not fooling me. At the same time, they gave Trump “gotcha” questions.
I see economic weakness everywhere. Wait til the auto sales crash. They have been selling to weak purchasers with electronic disabling devices installed that will enable the lender to render the car undrivable so they can repossess the car when the purchaser desalts. Shades of another bubble……..
To reader R. If those gov employees knew how much the execs in the public sector make they would burn the place down. College profs at 200k. Presidents 800k. Firemen at 200k
The non politicians, Trump, Carson, and Fiorino prevailed. They have obviously tapped into some sort of primordial survival instinct to help deter the decline of our country. Pragmatic bottom line business minds just may be the panacea. Let common sense prevail rather than political correctness.
I think the single most unrecognized phenomena in America is the absolute contempt mainstream citizens have for the political establishment. Contrary to most of you I believe this will be one of the most interesting and surprising elections of our lives. Jim
#FeelTheBern!
I hear all this stuff y’all putting out there, why don’t you talk about the real issue, put a person in all the offices in DC that will have balls to stand up for this great country, it’s still great but we the people have set back and let the scum especially BO do what ever they want and we don’t protest and make enough noise to stop them, vote for people with back bone and balls, not brass we have had all we can take of that type
Hi Mike!
I’ve studied planetary influences (astrology) and the science of numbers (numerology) for over 30 years and have become convinced that virtually all major changes in world markets, including the Economic Long Wave and the War Cycles(!), are engendered by certain planets and their aspects, as well as certain numerical values. Jupiter has been transiting Leo since July 16, 2014, and this pertains to speculation, risk-taking and party time on a large scale that led to Dow 18,000-plus. However, 18 is the TIME number, so this indicated that a severe “correction” would occur. Moreover, Jupiter will begin a year-long transit of Virgo on August 11 that should induce all global human denizens to become cautious and eventually coerce them to seek the safe haven of gold and silver, propelling the precious metals to unprecedented heights in prices/values. Indeed, the 30-year seasonal chart for gold shows that the July-early August period is always the best time to buy gold, and this annual condition is induced by the Sun-in-Cancer/Leo effect. Leo is the Sun Sign of gold (a new horoscope was created for gold when Nixon removed the gold standard from the dollar in August, 1971), and this is the REAL reason that August is usually the best time of any year to accumulate gold and gold-silver stocks!!!
William do you have graphs and charts for this crap.
The more things change the more they stay the same is also accurate for the stock market! Consider that investors are always looking for a safe haven that makes them money rather than growing a stable portfolio.
This also applies with financial letters or emails that shout with praise for the market one day and doomsday the next.
Lets be sensible and realize that a good portfolio is the best place to put our money, yes it may actually drop one day but if we are careful with what we have in it the impact is very small. At the same time we have dividends and capital gains and the position we hold gain year over year.
Someone asked what They should buy and I said study the companies you intend to put in your portfolio very carefully, if you then consider them worthwhile then put a GTC order in at a low (not lowest you never catch it!!!!) at the same time decide your selling price and stick with it, if you put a sell GTC as well it takes emotion out of the picture.
There is never a point when an equity might go a bit lower or higher and catching this with the GTC might surprise you.
Learn about options, covered puts and calls! This allows you to make money when good equities stay about the same. This also allows you to buy in to these companies at a lower price and sell at a higher price along with the premium you receive. Learn about options before you do it…..
My point is that the stock market and equities is still the best place and most lucrative place to put your hard earned money.
And don’t listen to the doomsdayers!!!!!
Schumer’s position was predictable from his background which ties his loyalty. The question is how many other Democrats will stand up against or cave in to that same source of pressure…
Bingo. Might want to send a few pennies to J Steet. They need the power money brings into the discussion in their more reasoned approach.
I do not yet support any candidate, but in looking at the mix I have to ask where was Carly Fiorina – she is a fairly well spoken and talented person. I would have liked to hear her views along with the others.
The Republican party needs to start coming together, to think about how the demographics are changing (#Africans vs. # Hispanics vs # Asians vs #EuroAmericans), and how we should approach the voter block. We need a new contract with America.
Mike,
All my A rated stocks have taken serious hits, especially AAPL & BA & I’m concerned about its future. What is one to do?
Your recent reco’ ConAgra is not an A rated stock; so why recommend it? I don’t see very much upside to it.
So, who did the talking heads say made an impression during the debates? Donald
Trump, of course – he is the celebrity of the day! Ben Carson – he added a little humor about the half-brains in Washington. And Carly Fiorino – who wasn’t even a party to the main debates, but said some sensible things among the nonentities. The others might as well have stayed away.
The Fed can hike the Fed Funds Rate and NOTHING will happen. Banks are loaded with excess reserves from all the bonds and mortgages the Fed bought from them and that the Fed is paying them interest on. Banks have no need for the Fed overnight money. It is the resolve that isn’t, to “keep their Promise”, “stay to their course, and all the other nonsensical phrases you can regurgitate. It won’t get the inflation they want to bail the government on excessive debt, either. It is an empty gesture, the mouse flipping off. The eagle (deflation). We have been in a (structural) depression since 2007 but they are still trying to fight it with (monetary) recession tactics. Deflation is winning.
It’s hard to get excited about debates taking place 15 months before the election, especially when you consider that many of the candidates on stage last night may have already dropped out before the end of 2015.
Fed is going to raise rates? They are truly between a rock and a hard place and that will only hasten the coming chaos! They often “play” with the jobs #’s and wouldn’t be surprised to see that number adjusted downward. We now have 93.8 million not in the workforce with the actual unemployment rate at 23.1%. Raising rates will be a good thing for our economy – especially with a national debt nearing 19 trillion?
Carly Fiorina won the debate. I’d vote fir her in a minute! Jim
Nee: Cara Carleton Sneed; 9/6/1064; Austin, TX; BA – Stanford; MBA – U Maryland; MS, Management – MIT; ex CEO Hewlett Packard; Pianist, like Truman, Nixon, etc.
Tromp and Fiorina
Seeing how the real unempolyment rate is north of 15%. And the governments own admission that we need a positive job growth of 350,000 new jobs a month to stay even. The whole fantasy is falling apart. Americans know that the 5.3% rate is false. Just as the inflation rate no longer includes food or energy. The Propaganda machine is a Fail.Why you and others keep repeating these lies just damages your creditability. How are we to believe and take you seriously when you repeat the government Lies? Are you being payed or threatened to mislead us?
Are you living in a depressed area?
Were you this distraught after the dot com bubble burst?
How can you even quote those employment numbers? Look around you!
Do you see anything that looks even close to a 5.3% unemployment rate?
Seems perhaps the worker participation rate is more accurate. I think
everyone can do the math.
Marco Rubio absolutely came across as the fresh face of the Republican party. His cogent syntax and smiling expressions were the best of the lineup of all the candidates. I feel that he is the one candidate who can defeat Hillary, or anyone of the Democratic offerings.
Flashback to 1979. It was all doom and gloom. Years of stagflation. Watergate. We had just lost a war and our military was a wreck. We were suffering under the most incompetent Administration in our history. My mortgage had a 15 per cent interest rate. The Japanese were supposed to buy our entire country and leave us all paupers. Iranian Islamic militants held dozens of our diplomatic corp as hostages, humiliating our country at every turn. It was really bad and many of us considered the situation hopeless. America was through! Then we sent the liberal peanut farmer packing and elected a conservative. B movie actor who basically told us it was up to us, the American People, to fix the mess. What followed within the next eighteen months was the greatest economic boom in our history and the military and our status in the world were reclaimed. We did it once and we can do it again. I refuse to participate in “fundamentally changing our country” anymore. We need to clean house and get back to work and I’m betting we do it. Jim
You are dead on Jim…
Time to start thinning the herd…should’ve started before this first “debate”, but now’s good, too. There are at least 3 Republicans running who are ineligible to serve as President since they don’t meet the standard of “natural born citizen” as defined by the SCOTUS in 1874, a definition that was both taught and applied for generations, until it wasn’t any more:
“The Constitution does not, in words, say who shall be natural-born citizens. Resort must be had elsewhere to ascertain that. At common-law, with the nomenclature of which the framers of the Constitution were familiar, it was never doubted that all children born in a country of parents who were its citizens became themselves, upon their birth, citizens also. These were natives, or natural-born citizens, as distinguished from aliens or foreigners.†Minor v. Happersett, 88 U.S. 162, 168.
The Supreme Court has ruled, and that ruling has never been challenged or overturned.
The SCOTUS ruling is clear: “Natural born” for the framers meant born in the country of parents who are citizens at the time of birth. All others are merely citizens and not eligible to become President.
I learned that in my 5th grade Civics studies in 1954, then had it confirmed in my HS history and social studies classes in 1960, and further confirmed in my college history course in 1965-66.
So, Ted Cruz, born in Canada of a Spanish father who had immigrated to Cuba and an American mother, is not eligible.
Marco Rubio, born in the USA of Cuban citizen parents, is not eligible.
Bobby Jindal, born in the USA of Indian citizen parents, is not eligible.
Too bad, because I like many things that these individuals have to say.
And, no, John McCain was not eligible either, having been born in the city of Colon, Panama (which was outside the Panama Canal Zone, for those who wish to argue territoriality).
And according to this, the USA is currently without a legitimate occupant of the Office of the Presidency.
Who cares about that old document anymore? Certainly not occupants of the White House, or members of The Congress. They have made it essentially a moot point, starting over 150 years ago, with A. Lincoln.
It’s time to get back to basics… Even if it means “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
But I hope not…!
Oh my… Two “dead ons” in a row… Applause please…!
Birther cultist HQ?
To whom it may concern : I was wondering if by rising rates could it affect the 10 year bond rate which is connected to the US National debt and make it go astronomical which will affect the the derivative market which is 1.5 Quadrillion dollars and crash every economy around the globe?
Seems logical and quite likely…!
I think what all investors could use as a general guide is what “sectors” will remain the safest when interest rates rise, and which sectors will be hurt the most. I’m talking about stocks mainly, forget about bonds.
THE DONALD DID GREAT,FIRST TIME IN YEARS I HAVE HAD HOPE. HE IS NOT REALLY IN DEBT TO A BUNCH OF WALLSTREETERS AND BIG GOVERNMENT. A BIT RADICAL BUT I BELIEVE THAT IS NEEDED. REST OF FIELD IS CATCHING ON THAT POPULACE IS TIRED OF UNFULFILLED PROMISES{LIES} JERRY
When you look at the big picture, as Trump does, his refusal to pledge support to the eventual nominee makes sense and puts him ahead of the others.
Why…? Well, for one, all the others have now classified themselves as ‘good losers,’ while Trump has classified himself as a ‘winner’.
Secondly, Trump has shown that he’s dedicated only to winning for himself, for the country, and for conservatives, but more importantly, he’s specifically not interested in supporting the Republican establishment which has aided and abetted the progressive cause at every twist and turn and on every issue before congress…!
And you know for sure that I’m correct about that…!
And also, that’s what all conservatives want to stop with the turncoat Republicans they’ve elected…
Which is also why Trump has gained such popularity so fast…!
If you were the business man Trump is, you would easily see it is actually an advantageous negotiating stance.
Imagine if you would, a negotiator going into a negotiation saying that they will accept whatever happens and are not willing, under any circumstance, to walk away from the table. That’s what the other nine candidates indicated when they did not raise their hands.
Oh wait, that’s what the Republicans have been doing ever since Regan…!
That’s how they became known as RINOs.
Again, that is exactly what the other nine Republicans in name only said when they did not raise their hands…!
Stop sending them money now because they only want to perpetuate the status quo…!
“debate” was more an inquisition and kelley was pathetic baiting trump as was baer who already knew his answer to running. telling was when kelley said they were prepared for his answer either way- proves they were not running a “debate” but a gotcha.
MOST IMPORTANT TRUMP SAID HE WOULD HAVE TO RESPECT THE NOMINEE TO SUPPORT HIM WHILE BUSH SAID HE ALWAYS SUPPORTS WHOEVER RNC PUTS UP! that is how we get boehner and mcconnel. don’t need another compassionate conservative like bushes.
Kelley was smart in holding Trump accountable for his past views and statements that we should all consider when making a selection. All the other candidates are held accountable so why should Trump get a pass like you want?
POLITICIANS, IT IS THEM VERSUS US. PARTIES ARE THERE JUST TO CONFUSE THE SITUATION, MANY FALL FOR ALLEGIANCE TO PARTY,AND SEE NO GOOD RESULS.DONALD HAS MADE THEM NERVOUS, NO SWORN ALLEGIANCE, GO DONALD
Oh yes, Trump has allegiance to Trump and not US. He’s very selfish.
The winner of course was Fox News with a huge burst in watchers. A perfect set up for them. As I saw it there was enthusiasm for: getting into war, reducing taxes, reducing the deficit, building border fences and walls, ending any sort of abortions, and encouraging bombasity and humor at the expense of the other party.
Fox won, but the GOP lost. Going to war costs, reducing taxes limits income, pissing off latinos and blacks turns off a large block of voters, pissing off women loses female votes. The game now is to wring more money out of the big donors as Trump so plainly stated it to curry later favors and payback. The money will be spent buying air time on fox where the emphasis will be on conflicts between the candidates rather than solutions to problems. That’s what sells ad space and entertains the public. It’s time the GOP took the game back, and started planning on how to win the next election. Fox will continue to win either way. On the present course the GOP is headed into obscurity. If you want to win buy stock in Fox.
I’m old enough to remember when Reagan was dismissed by educated, thoughtful liberals and conservatives alike as a mere entertainer who would never be elected president.
When he was, and ever after, they became unsettled and incredulous.
Yet Regan won-over (completely) the working class with whom his rhetoric resounded, including a huge chunk (in fact the backbone of the Democratic party) who became known as Reagan Democrats. Many have been Republicans ever since…!
Trump knows exactly what he is doing, and he is doing it rather well, and I speak as an educated, incredulous independent.
Trump may be crazy, but he’s crazy like a fox.
“Reagan Democrats” were impressed by Reagan’s racist dog whistles and more overt anti-union messages. Most would have aligned with Dixiecrats, which went out of favor in the party starting in 1948.
Dixiecrats are all now dead as a result of age or have simply become Republicans. I wouldn’t be proud of that were I Republican, but to each one’s own as long as Republicans realize that they have not been the party of Lincoln for a long time now.
I believe Regan was anything but a racist, although his state’s rights positions were painted unfavorably by Democrats trying to use anything they could to prevent Blacks in the south from defecting from the Democrats and voting for Regan.
Voters heard Reagan’s dog whistle politics for sure. In 1980, Reagan’s sometimes racially coded rhetoric and strategy proved extraordinarily effective, as 22 percent of all Democrats defected from the party to vote for Reagan.
This illustrating the power of race in the campaigns of both Republicans and Democrats. The defection rate shot up to 34% among Democrats in the 1984 election primarily because those Democrats felt the government should not make any special effort to help any particular race because they should help themselves.
And look where we are today with the help Blacks have received from the government… It has created an appalling corrupt welfare state that seemingly cannot be undone.
But to the point, and regardless of your assertions based on rewritten history, Trump will pull at minimum 20% of Democrats many of which will be Black Americans.
The job report and most other reports through the media, are anything but whole truth.
Common sense says rapidly growing millions of US citizens that can or might be able to work are not, will not, and never will (add economic wealth to the pie). For decades they have spent all the UDS’s they possibly could while millions but slowly declining numbers (large numbers) of foreigners saved all (USD’s) they could. Meanwhile, the money supply hummed along replacing worn out USD’s and doing favors for banking and other big money pros…..and cons (active criminals and convicts). Then, not too many years ago, the US engineered and installed new and very reliable money printing presses in The Philadelphia Fed Res Building and other places. Very expensive. Then, they ran them basically non stop until there were enough dollars to start releasing billions of them to the world. Then the release. Like a tsunami. But the presses still have not stopped. The hugely increased number of dollars has already reduced the value of each dollar so much that many or maybe all of the large and not so large multi nationals don’t use them unless there is no other choice. Some have moved vitrtually all of their money transactions into foreign corporations/banks so they are free to use any currency they want to settle their accounts. Heck, Baltimore has their own currency now – for the same reason to be sure.
When main street stops trusting Uncle Sam, there’s gonna be hell to pay. Dollars won;t help ya. No doubt about it. Only question is, when and where will it start and, maybe most important, how long will it last??
God Bless(ed) America. How long do YOU think he’ll continue?
So, yeah, invest in value diversely. Find a remote place with trees, a roof, running water and ground that perks or hopefully a house with a septic system and a well. Store all of your hand tools needed to build a house and garden …if there isn’t one there already. Keep enough coin (at all times) to get there and with seeds, candles, thermally efficient water containers, and whatever else you’ll need to be warm and dry, keep bugs off and hunt meat/fish.
Learn how to cook everything you eat …. on a fire.
You might even have no choice but to walk there so pack a light backpack.
And good luck !
The jobs report never takes into account the number of new unemployment claims. In order to get a look at the real jobs created in a given month, shouldn’t you deduct the unemployment claims from the new hire number? Shoot, the unemployment claim seem to nearly always cancel out new job hires. What gives with this ? Mike
Jobs tend to last longer than periods of unemployment. Get it now?
Employment statistics are rubbish. Jobs created include part-time, which have a significantly increasing share especially since health care insurance “reform” was enacted. Staring at us in the face is the number of people who have simply given up looking; a labor participation rate as low as it has been in decades, millions more on various forms of welfare.
A more accurate assessment of the economy would show vastly different numbers and effective unemployment rate well in to double digits.
Whatever reality the Fed may choose to act upon, the fact is that we are in deeply dark times and history will one day right that this chapter in history made the so-called “Great Depression” look like a picnic.
If you are interested in the U6 and other labor statistics, you will find them on the labor secretary’s website.
The moderators in the debate did not “go after Donald Trump” as you sympathized. They simply held him accountable for his views and statements made previously. He has to be held responsible for his actions. The first forum with the seven was interesting. George Pataki had the best solutions and thoughts but it seems the voters want entertainment and insults from their candidate instead
Very smart, Steve, recognizing that what most people want from their politicians is entertainment, rather than solutions to issues. And any issue that is not properly addressed will someday take care of itself, or be taken care of by someone else, of course. We may not much like the result.
Thank you for the correction regarding Megyn Kelly’s legitimate question for Trump.
Wow. First time I’ve hit the comment button. Never mind jobs numbers; some readers don’t understand that we’ve used the U3 as one of many guides for Fed actions for decades.
So your “financial” newsletter has a bunch of old Republicans following it. They seem to believe in Donald Trump, Ronald Reagan and have zero actual knowledge of how government actually works.
And Iran scares the willies out of ’em, even though we’re the ones who gave them increased power by destroying their former counterbalance, Iraq, in a war of illegal aggression that made certain people very wealthy. Cheney alone increased his wealth by 12x as a result of the Iraq debacle.
My deceased father would be right there with them. My father was also a crummy investor. Why would you want opinions from these people?
Under Ronald Reagan’s watch, the national debt increased 2.5x, ensuring that we would never be solvent again. Yet this very issue is one of the very dearest to your team of writers and your readers. When will Reagan be a subject of much-deserved ridicule?
I bet they love it when
I suggest an “edit” button. Or an expanding window.
Yes, an edit button might be nice, as I realized after submitting a comment that made Carley Fiorina 966 years old.
For those who agree with the Bushes, the Clintons and Obama that we should support Saudi Arabia, and their brand of Wahabist Sunniism, versus Shiite Iran, take a look at Page 11 of this week’s issue of “The Week”. You might rethink a bit. Not that we want another nuclear power in the region, but how do we know what the Saudis may be doing behind the scenes with all their oil money. Besides supporting ISIS, and spreading their brand of Islam to nuclear power, Pakistan, that is. I believe Pakistan has developed missiles that could carry nukes to Israel – as well as much of Europe
Why I’m Getting More Cautious Now Than at Any Time in YEARS, Was “Bloody Wednesday†Just Green-Lighted By the Jobs Number? One of the Millions Who Gets Crushed, or One Who Thrives?