In the 2018 election cycle, a Marxist-led organization claiming more than 100,000 members in 50 states helped elect one U.S. senator, 10 members of Congress, around 70 state, county, and municipal officials, and contributed to the victory of more than 20 left-wing state and county ballot measures.
Our Revolution, the vehicle organized in 2016 to carry on the Bernie Sanders movement, endorsed several hundred candidates and ballot measures. Most fell short of victory, but six new leftist members of Congress, including Alexandria Ocasio-Cortez (D-NY) and Rashida Tlaib (D-MI), and a slew of socialist state representatives, county commissioners, and school board members have encouraged a U.S. left that had been long disillusioned with electoral politics.
Other beneficiaries of Our Revolution included incumbents Sen. Bernie Sanders and Reps. Tulsi Gabbard (D-HI), Jamie Raskin (D-MD), Pramila Jayapal (D-WA), and Raul Grijalva (D-AZ).
Our Revolution’s goal is no less than the revolutionary transformation of the United States.
As widely noted many hedge funds and quantitative investors are on the sidelines because of market volatility. This pessimism has also spread to ETF investors for they have yanked about $4 billion from funds thus far this year. Bloomberg writes that this is unusual given that asset flows for the group have not moved in opposition to the market in more than a decade.
Can we suggest that geopolitical issues are finally taking their toll upon this huge cadre of investors?
Speaking of politics, what words can I use to describe Washington? Life is indeed stranger than fiction. Regardless of one’s political views, the dysfunctionalism in Washington is horrific and is perhaps now beginning to impact investor psychology.
Bloomberg writes that since the beginning of the year approximately 90% of the volume is the result of algorithmic and technology-based trading; trading based upon momentum and capitalization, not any macroeconomic or geopolitical thought. Wow!
Speaking of volatility, yesterday was again volatile with all averages opening higher by 1%, because of earnings. Mid-day the indices declined over 1% on growth fears and the 50-day moving average for the S & P 500 was breached as selling accelerated. However, just as quickly as shares fell, the S & P rallied. At the close, the NASDAQ was flat, the S & P 500 up 0.22% and the Dow up about 0.70%.
Commenting about the annual economic forum in Davos, it appears all participants are defending the global order. This should not be a surprise given the billions spent and legislation passed to ensure perpetuity. However, democracy is intervening. Economic nationalism is surging in most western democracies, democracies that represent about 70% of global production. President Trump is a symptom of today’s environment, not the cause.
cause in my view is income inequality and the heavy burden of the
bureaucratic state that believes their views are omnipotent and
omniscient to that
of their constituents.
Wow! We are living in tectonic times!
What will happen today?
Last night the foreign markets were mixed. London was down 0.09%, Paris was up 0.84% and Frankfurt was up 0.55%. China was up 0.42%, Japan was down 0.09% and Hang Sang was up 0.42%.
The Dow should open flat ahead of downbeat comments from Davos where the world’s elite are gathered defending the current economic order, an order that appears in global disarray. The ultimate reality show in Washington is continuing. And then there are earnings and trade, the view of each radically changes in a five-word tweet. The 10-year is up 5/32 to yield 2.73%.
On January 7, Hillary Clinton and New York’s Gov. Andrew Cuomo announced their satanic bill to allow abortions through all nine months up to birth. The intensely jubilant faces of these two Democrats while launching their baby-killing campaign was bone-chillingly evil. Clinton and Cuomo held their joined hands high in the air like an enthusiastic victorious battle-cry as they grinned ear to ear. Why were they so happy? Why are these leftist politicians barely able to contain their excitement over the thought of killing more babies?
During her presidential campaign, Hillary vowed to protect animals from cruelty and abuse. And yet, Hillary is elated over her bill to allow abortion doctors to deliver a nine-month-old baby except for the head, then shove scissors into his brain to kill him. This barbaric, shameful, and evil procedure is called partial-birth abortion.
2nd Lady, Karen Pence decided to take a parttime job teaching art at a DC Christian school. Out comes the left and in a bigger way. The hashtag du jour is #ExposeChristianSchools. Anyone paying attention?
Over the weekend, included in the whole matter was the fake media scandal of a Covington Catholic student allegedly confronting a Native American playing his drum. That is hardly what happened at all. But the media and some members of Congress ran with the false narrative. Sheesh.
Ah, but there is more to this attack on Christians and religious education. We had those like Congressman Ted Lieu slamming this privileged education. Then we also had Congressman John Yarmuth demanding that kids be banned from wearing MAGA hats, stating that they seem to be poisoning young minds.
But wait, let us go back a few months, shall we?
How about Senator(s) Mazie Hirono and Kamala Harris? Harris just announced her intention to run for president in 2020. Ahem…
Just a few months ago, Trump nominated Brian Buescher for a Federal court vacancy in Nebraska. During that confirmation hearing, both Senators attacked Mr. Buescher for his membership with the Knights of Columbus. In fact, Senator Hirono demanded that Buescher drop his membership in the Knights. Senator Harris made a big point that the Catholic organization was all male and the judge would need to recuse himself over any case involving abortion or touched legal matters dealing with challenging Roe v. Wade.
The Knights of Columbus is the single largest Catholic service organization in the country. Services to communities include being ushers during mass, charitable work and visiting those in prison. But hold on….let’s go back a little further shall we to Dianne Feinstein and her questions to Judge Amy Coney Barrett. Senator Feinstein doesn’t like Christians or Catholics either.
So, anyway, after the Judge Buescher exchange, Senator Ben Sasse took to the Senate floor.
Guess what….that resolution passed without opposition last Wednesday following his floor speech. This was a formal rebuke of Senator Hirono and Harris and rightly so. Remember this as lil’ Ms. Harris begins her presidential campaign. One last item…
Article VI of the U.S. Constitution forbids the imposition of a religious test for any office holder.
Furthermore, let us not forget the 1st Amendment:
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances.
The First Amendment of the United States Constitution protects the right to freedom of religion and freedom of expression from government interference. It prohibits any laws that establish a national religion, impede the free exercise of religion, abridge the freedom of speech, infringe upon the freedom of the press, interfere with the right to peaceably assemble, or prohibit citizens from petitioning for a governmental redress of grievances. It was adopted into the Bill of Rights in 1791. The Supreme Court interprets the extent of the protection afforded to these rights.
Delia, age 13, called Rush Limbaugh’s radio show seeking information for a school assignment. She had to debate whether or not it should be easier for immigrants to become U.S. citizens. Delia asked Rush his thoughts on the topic.
Here’s a small excerpt of Rush’s brilliant answer.
In order to preserve this country, it ought to be a very specific task for somebody, not a citizen, to become one. If they come here via legal immigration, they do have to take a test. And those who endeavor to become citizens and pass the test, it’s one of the most proud days of their lives. If you’ve ever been to a naturalization ceremony or ever seen one televised, it’s one of the proudest days of their lives, to become, quote, unquote, an American.
I can personally testify to the truth of this statement in Rush’s answer: “it’s one of the proudest days of their lives, to become, quote, unquote, an American.”
For years, I sang my original song, “Celebrate America,” at monthly naturalization ceremonies in Maryland. Every ceremony had a thousand people or more – applicants, families, and friends. I enjoyed watching the excitement of the audience from my seat with dignitaries on stage behind the podium.
stocks rallied after China ratcheted up stimulus to combat slowing
growth. The pound erased a decline against the dollar after British
overwhelmingly voted down a Brexit deal and planned a confidence vote
on May’s government.
potential stimulus in China and the weak data in our trading partner’s
economies is spurring the belief of potentially looser monetary
Earnings season accelerates today with the release of Bank America, and Goldman today and Netflix tomorrow.
To remind all, NFLX’s summer bombshell was the beginning catalyst for a selloff of the FAANG issues which in many regards abated at year end.
Stanford Bernstein issued a stark warning yesterday. The company stated momentum stocks — those rising the most in the recent month and are closely connected to mega-sized technology companies — now display a valuation gap relative to losers, a gap that widened to levels not seen since the dot-com era of 2000 when this strategy tumbled 53% in the following six months.
The data is a sign of heightened risk in the popular strategy of chasing winners as money piles into the same names meaning a reversal could mean trouble. Stanford Bernstein stated the spreads are much higher than they were in February 2009, a “catastrophic career-costing period for momentum.” Additionally, the firm stated the PE ratios of high-momentum stocks are now double the price to earnings ratio of low-momentum shares.
What will happen today?
Last night the foreign markets were mixed. London was down 0.53%, Paris was up 0.17% and Frankfurt was down 0.17%. China was flat, Japan was down 0.55% and Hang Sang was up 0.27%.
The Dow should open flat. The 10-year is off 6/32 to yield 2.74%.
Just like the hollow promise given
by Democrats when they passed the Secure Fence Act
of 2006, newly elected and former-waitress US Rep. Alexandria Ocasio-Cortez
(P-NY), is waffling on whether or not she will refuse her salary during the
so-called government shutdown. Ocasio-Cortez makes $174,000 annually
as a US Representative.
The freshman Democrats shot her mouth off before the
shutdown tweeting that Congress should “have some integrity” if the government
should go unfunded by any impasse and refuse to take their salaries until all
government workers could get paid.
Fast forward to the third week of the pay pause.
Facing the third week of the Democrats’ refusal to finance a
border wall that they supported back in 2006, Ocasio-Cortez refused
to respond to questions about whether she’d be accepting a paycheck while close
to 800,000 federal go without. When queried by The New York Post last week on her decision, the 29-year-old
representative said: “I’ve gotta run.”
Egypt’s Birth of the Prophet national holiday this past November, as
per tradition the Egyptian president, Abdul Fatah Al Sisi, and the grand
imam of Al Azhar Institute, Mohammed Al Tayib, accepted the invitation
by the Egyptian Endowments Ministry to attend an annual religious event
at the Al Azhar Institute.
Al Sisi opened the event with his address to the gatherers. Directed at
Al Tayib, he urged a renewal of discourse within Islam’s highest
office. He zeroed in on the topic of Islam’s primitive husband “oral
divorce” device. This was not the first time Al Sisi brought up the
sensitive issue of reform. He had made an appeal one year earlier, only
this time he went a step further.
his cue from recent expressions by Egyptian thinkers and independent
Islamic scholars who exposed the violence in the Quran and blamed the
earliest interpretations found in Sunni books, Al Sisi suggested
modification of the interpretations of the Sunah’s doctrinal verses
regarding divorce. Ironically, it was Al Sisi’s government early last
year that arrested, imprisoned, fined and censored the very Egyptian
critics whose materials he used to defend his position before Al Ahzar.