Tag Archives: political parties

Another Power Grab

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This one by the Securities and Exchange Commission.

A proposal under consideration by the agency would generally require brokers to route small investors’ market orders into auctions, where trading firms would compete to execute them, people familiar with the matter said. …
Brokers would have a way out. Instead of sending the orders to auctions, the brokers could attempt to have them filled at the midpoint price or better, the people said.

And

The proposed midpoint requirement and auctions would apply to market orders. Commonly used by small investors, market orders are instructions entered through a brokerage to buy or sell stocks at whatever their current market price is.

This sounds good, but in reality, it’s a solution for a nonexistent problem.

I’m one of those poor, downtrodden small investors, and my broker already uses a price improvement procedure whereby my market orders are routed to the trading house that offers the best execution price—which is the price shaded above the mid-point toward the buy price if I’m selling and below the mid-point toward the sell price if I’m buying. I’m already getting a better price than the mid-point.

My broker isn’t alone, either; most brokers offer/provide that procedure: it’s a means of competing for the small investors’ business.

But wait—don’t those trading houses pay the brokers for the orders to be routed to them? Why yes, yes they do. And those trading houses compete among themselves for the brokers’ business, which means the brokers get a range of trading houses from which to select the best price improvement for their customers.

The SEC’s…proposal…is just another exercise in power for the sake of power being carried out by SEC Chairman Gary Gensler.

Progressive-Democrat Lies

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These two are especially egregious in this final runup to voting in two weeks.

The first is by Joe Biden, our Progressive-Democrat President:

The most common price of gas in America is $3.39, down from over five dollars when I took office[.]

No, the most common price of gas in America as of the week ending January 25, 2021, the week Biden was inaugurated, was $2.39 [hit the full history XLS link for “U.S. Regular Gasoline Prices*(dollars per gallon)”, and select Data 3 in the resulting spreadsheet]. (Lots of good data on the US Energy Information Administration site.) Biden knows the actual price of gasoline, both then and now.

The second is by Gretchen Whitmer, Michigan’s Progressive-Democrat Governor. In last Tuesday’s debate with Republican gubernatorial candidate Tudor Dixon, Dixon said Whitmer kept Michigan schools closed longer than any other State. Whitmer claimed

That’s just not true…. Kids were out for three months.

Whitmer made that claim even knowing that tens of thousands of Michigan’s students still can’t get in-person/in-school learning in the present school year, which has been in progress for two months.

In fact, Whitmer didn’t even recommend, much less require, schools open for in-person learning until March 2021, a year after she ordered schools closed in March 2020. In March 2021, also,

23% of Michigan schools were fully in person, compared with 47% in Ohio, 54% in Wisconsin, and 76% in Indiana.

Those three surrounding States were reopening, strongly, for in-school learning. Whitmer knew this at the time she made her claim, even as she tried after the debate to weasel-word her answer:

[Whitmer] referred only to her or her Health Department’s orders in making the “three months” statement.

Never mind that she took no overt countervailing action for that subsequent year and more.

A Raise in Pay

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Chicago’s Progressive-Democratic Party Mayor, Lori Lightfoot, is at it again, this time in an obviously self-serving way.

Chicago Mayor Lori Lightfoot on Wednesday proposed an ordinance giving the office of the mayor an annual inflation raise capped at 5%.

Wow.

There are two reasons for an organization giving a pay raise to an employee. One is that the organization is doing better than in the past and is expected to continue at that increased level. This often garners pay raises for all employees, from the top to the bottom.

The other reason is that a particular employee has done especially well and can be expected to continue performing at that level, or the raise is granted after a period of exceptional performance to encourage the employee to continue at the elevated level.

The organization known as Chicago is a failed city. The tip of that failure:

  • violent crime in her city has increased 37% over 2021
  • the murder rate, in particular, is skyrocketing, even compared to 2021, which itself was up markedly over 2020
  • motor vehicle thefts to date are up 74% compared to the same period in 2021
  • major companies fleeing the city

There is no reason to expect this performance trend to do anything other than to worsen. The organization of Chicago is not doing well enough for across the board pay raises, much less for the Mayor or for anyone in the mayor’s office.

Lightfoot is the city’s MFWIC, and not only is the city’s failure her fault by dint of her role as the one in charge, the city’s failure is a direct result of her policies and behaviors. Lightfoot, in particular, deserves no pay raise.

Beyond that, in no way at all does anyone running this organization deserve automatic pay raises, which are independent of performance.

“Biden Forgets….”

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The Wall Street Journal‘s Editors are busily making excuses for President Joe Biden’s (D) performance as President, which office he gained after 40 years in Federal public office, including 8 as the No. 2 in the White House.

Mr Biden was clearly confused about a basic question of law with major fiscal and constitutional implications. It’s disconcerting that he doesn’t even seem to know how major policy decisions were made in his own Administration only weeks ago.

The Editors are too anxious to lay Biden’s…misspeaks…off to a declining mental capacity.

Readers, though, shouldn’t lose sight of the fact that Biden is the leader of the political party that holds itself and its members out as so much better, so morally superior, so much smarter than us average Americans, denizens of flyover country and pseudo-fascists that we all are.

Contrary to the Editors, Biden is fully aware of what he’s doing and saying, and he does and says them on purpose, out of that self-asserted superiority and contempt for the rest of us. He knows full well the policy decisions his Administration made and still makes—that he made and still makes; he is the one in charge.

Biden also is fully aware of the relationship between his decisions and our Constitution; he simply doesn’t care. He shares the same disdain for our Constitution that his party has held at least since Woodrow Wilson.

There are no excuses.

Rule No. 4.

Progressive-Democratic Party Payback?

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Or is it Big Tech payback? Or both?

Recall Elon Musk’s renewed commitment to buy Twitter, and recall also his commitment to free speech and to ending Twitter’s bias and censorship.

Now the Biden administration is “reviewing” the proposal for its national security implications.

US officials have grown uncomfortable over Musk’s recent threat to stop supplying the Starlink satellite service to Ukraine—he said it had cost him $80 million so far—and what they see as his increasingly Russia-friendly stance following a series of tweets that outlined peace proposals favorable to President Vladimir Putin. They are also concerned by his plans to buy Twitter with a group of foreign investors.

Of course there was no threat to stop the Ukraine-Starlink facility; Musk only said he wasn’t sure he could continue to cover the cost alone. The Biden administration objected to the idea of no longer having that freebie.

How dare Musk propose peace talks between Ukraine and Russia. That’s President Joe Biden’s (D) and SecState Antony Blinken’s (D) job. Private citizens should just sit down and shut up.

How dare Musk put together an international consortium to buy a company with global reach? Neither Progressive-Democrats nor the Precious Ones of Twitter approve.

Need to do that “security” evaluation.