Tag Archives: markets

An Appropriate Response

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Freedom from Religion Foundation cried foul after the group noticed a “God Bless America” banner that employees at a post office in Pittsburg, KS, had erected after Sep 11, 2001. A lawsuit filed by FFRF on behalf of a Pittsburg resident forced the banner down in late January[.]

This is the timidity of the local postmaster, or perhaps it’s the political correctness of his bosses up the government food chain.

However.

When news of the banner’s banishment spread, a business in the area, Jake’s Fireworks, printed 1,200 “God Bless America” yard signs and 300 banners. Jake’s gave away all of the signs within 45 minutes, according to the Post.

This is entirely appropriate.

Hillary Clinton’s Wall Street Speeches

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She was for releasing the transcripts before she was against it. The fact is, there could well be contractual requirements for not releasing them. However, I discount that because if such contract clauses existed, she’d cite them. Her latest weasel-worded excuse for not releasing is this, instead, in response to a George Stephanopoulos question about why she’d not yet:

Yeah, you know, here’s another thing I want to say. Let everybody who’s ever given a speech to any private group under any circumstances release them. We’ll all release them at the same time. You know, I don’t mind being the subject in Republican debates, the subject in the Democratic primary. That kind of goes with the territory.…

Couple things about this. One is the typical Clintonian (and others’) tactic of releasing the bad news within a deluge of good news, other bad news, and utterly irrelevant news. Everyone releasing at the same time would bury whatever embarrassing or outright bad stuff might be in the Clintons’ Wall Street speeches.

The other thing is this: why not show the way and be the first to release the transcripts? Because that would be taking the high road.

Home Buying Down Payment Requirements

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The PRC is reducing the size of down payment it requires for a Chinese citizen to buy a home from 25% to 20% of the purchase price. For those who already own a home and haven’t yet fully repaid that mortgage, the mandatory down payment on the purchase of a second home is being reduced to 30% from 40%. This is that government’s attempt to stimulate a slowing economy by inducing more consumption and thereby growing jobs. Supposedly.

The moves, though, raise the question: why is the PRC government mandating this sort of thing at all?

Oh, wait….

PRC Markets

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The PRC stock market tanked again earlier in the week. It’s a broader drop than just a fall in the PRC’s benchmark Shanghai Composite Index, though.

China’s outstanding margin loans—money investors borrow to buy stocks—declined for 16 consecutive sessions to Jan 22, the longest losing streak on record, with 209 billion yuan ($32 billion) worth of leveraged bets unwound during the period.

“Volume is getting very thin, as there are hardly any fresh inflows, and the process of deleveraging is continuing,” said Chang Chengwei, analyst at brokerage Hengtai Futures [a PRC-based financial investments player].

Fox Business lays much of this drop off to continued low (and perhaps lowering) oil prices. It’s not just oil, though. All those erstwhile investors have had their faces rubbed in the fact that it’s not (if it ever was) a price-sensitive market; it’s a government-sensitive market. And that it never had any contact with the underlying economy; it is a purely speculation play.

Empirical Socialism

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Bernie Sanders style. You remember him: the Independent Senator from Vermont, Democratic Party Presidential candidate, avowed Socialist, and as of Monday night’s Democratic Party Town Hall “debate” an avowed Democratic Socialist. In that “debate” (because it really wasn’t a debate; the three candidates appeared sequentially and answered carefully selected questions—and not even the same ones), Sanders assured us, one and all, that he really will raise taxes on us if he’s elected President.

From The Washington Examiner we get a list of just how bad his tax increase will be.SandersTaxes

To put that in perspective, the Congressional Budget Office projects that federal revenues over the next 10 years will be a total of $41.6 trillion, meaning that Sanders would raise taxes by 47% over current levels.

Guess what happens when Government takes that much money away from working Americans, removes that much money from the economy?

Yup.