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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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  • More Fodder To Junk Constitution Or Crossing The Line? By Charles Payne 0 comments
    May 7, 2013 9:53 AM

    Question of the Day

    Want to Hear from You

    What do you think about blueprints online that allows anyone to print out a plastic handgun?

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

    There is a serious push to junk the US Constitution, and it's not going away anytime soon. It's scary to think, but the same approach for legalizing pot and for pushing immigration is being used. Chip away with a subtle approach aided by some folks on the fringe, then make the circle tighter and tighter. I saw an ad for a new television show that teased something about the Constitution keeping up with the times. This is a favorite approach, the notion the Founding Fathers couldn't fathom cell phones and machine guns, so this "old piece of paper" is a relic.

    The one thing we know has never changed and never will is human behavior. The Constitution provides checks and balances that protect against the worst instincts of checks and balances. And while key players were also slave-owners, it doesn't make the document void or less valid, it just means these men had flaws. The point is that over the next three years you will witness that all the surface battles will really be proxies for an even bigger prize-a new constitution based on universal laws (read United Nations) coupled with natural laws (read pagan)- that focuses on a Voltaire-like nation of fairness.

    Typically, when there is an attempt to junk something as vital and important as the Constitution is to the United States, opponents look for that major event to drive home change.

    Many thought it would be Newtown but that didn't work, although now inner city politicians can blame gun owners in the suburbs or different states for young people in their own districts slaughtering each other. Hollywood can tweet about the evils of guns even as violence has not taken a week break in their world. The critics have their platforms but missed badly on their attempts to use a senseless slaughter of innocents, and now they want to claim blood is on everyone's hands who believe in the Second Amendment.

    New Battle Ground

    There have been few people as excited about 3-D printing as I have been. I simply think it's the most revolutionary thing in more than a decade. But, what if this burgeoning technology gets caught in the crosshairs (pun intended) of the battle to destroy the Constitution? Apparently, there's an outfit that claims it's perfected the 3-D printed plastic handgun and will release instructions over the internet this week. They're calling the gun "The Liberator" and it could up-end a lot of things and make the fight over so-called gun control moot.

    It certainly bears watching for all its implications. I must say there is hype that one day an entire airplane could be printed, so a handgun would be child's play. Of course, that's a frightening thought, but it might happen even if those rights, now guaranteed in the Constitution, are stripped or the entire document is junked or rewritten.

    Here's the website for more information: http://defdist.org/

    The Market

    With the bias firmly to the upside the market is poised to open stronger this morning. There is a dilemma surfacing - to chase or not to chase or to find stocks not at 52-week or all-time highs. It's okay to chase stocks where the underlying fundamentals are moving faster than the share price. The problem comes with hiccups and profit-taking. Once again it boils down to our main theme of investing - looking under the hood.


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