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Wall Street Strategies has been providing independent stock market research since 1991 to individual, retail and institutional clients through a balanced approach to investing and trading. Charles Payne, our founder and chief analyst, is routinely sought after for his stock market, political,... More
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  • White House Calls For A Posse By Charles Payne 0 comments
    Nov 29, 2012 9:43 AM

    Question of the Day

    Although, I consider Times "Man of the Year" and the "Nobel Peace Prize" a sad joke and shell of what it used to be, I'll play the guessing game.

    I say Pollsters will get the nod with Nate Silver on the cover. They got heat from all sides, dominated each day of our lives for months, and in the end, were mostly spot on.

    What's your hunch (even if you don't care play along)?

    Click here to post your answer and let Charles know what you think.

    According to Bonnie Barker, Posse Comitatus was a rider to an appropriations bill, Chapter 263, Section 15, and approved June 18, 1878, seeking to ensure certain order during the Reconstruction period after the Civil War. The two-part goal was to make sure universal manhood suffrage was permitted, and no former Confederate officers voted.

    In addition, it was to make sure the use of any part of the Army to execute laws in civilian settings was regulated, and at the same time flexible enough to protect against criminals and Indian attacks. Because much of this enforcement happened outside American territories, waiting for official communiqués were unreasonable.

    The result, however, in many instances were violations to the Constitution and other atrocities.

    In December 1881, police chief Virgil Earp was shot by assassins prompting his brother to seek authority to create what would become the most famous posse in American history. This was his telegram requesting to be deputized and the ability to pull together help to go after those that attempted to murder his brother:

    Tombstone, Arizona Territory, December 29, 1881
    Virgil Earp was shot by concealed assassins last night. His wounds are fatal. Telegraph me appointment with power to appoint deputies. Local authorities are doing nothing. The lives of other citizens are threatened.
    -Wyatt Earp

    Currently, we may be witnessing the gathering of the largest posse in American history in order to bring justice to those rich people not paying their fair share. Yes, the plot thickens and becomes murkier as both sides of the Fiscal Cliff debate are talking past each other rather to each other. President Obama, however, enlisted the aid of the masses a day after Warren Buffett said we should tax the rich so the middle class feels good.

    This has become a good old fashioned posse, driven by bloodlust and revenge aimed at hurting others and not solving economic ills. President Obama has boxed in Republicans. By saying no deal on the Fiscal Cliff hurts the economy, there is a foil to blame. Maybe someone from the GOP needs to say:

    "I'll be your huckleberry"

    Not sure that will happen, but there is no reason to give up on spending cuts and stand up for small businesses and relatively successful people.

    The Unruly Crowd

    Stoking the flames of anger and hatred for people that truly have done things right, made sacrifices and climbed the ladder of success, is a crime. Lots of "crimes" have occurred under official mandate in this country, but the greatness of American has been its move toward a more perfect union. Right now, we are on the cusp of moving backwards. This slippery slope is easy to sniff out because it's playing out in other nations that are ahead of America on the socialism curve.

    Paying a little bit more moves more people over the 50% mark, but it's just the beginning. There will be taxes on wealth, stuff that doesn't earn money nor pay dividends, taxes on gas emissions, taxes on sugar, and taxes on thoughts. Okay, I slipped that last one in there, but it's not inconceivable in the perfect world where fat people and fat wallets are hunted down and humiliated with scarlet letters. Left with rabbit-eared pockets, generations of blood, sweat and tears will be gone.

    Here's the thing to remember. Posses of the past gave way to law and order and individual rights - even when there was undisputed guilt. Don't give up on the nation or your future. Don't sleep on the stock market, either. Stocks are poised for a big move higher. It doesn't have to make sense, and you don't have to like it, but its nuts not to benefit from it. Now is the time to get the money while you can.


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