Seeking Alpha

Matthew Whiz Bu...'s  Instablog

Matthew Whiz Buckley
Send Message
Matthew Buckley is the founder and CEO of Top Gun Options LLC and a Managing Partner at Wealth Creation Investing LLC. Matt was formerly the Managing Director of Strategy for PEAK6 Investments, L.P., one of the largest volatility arbitrage options trading firms in the country. He was the founder... More
My company:
Top Gun Options
My blog:
Top Gun Options Intel Brief
  • Roberts Is An Idiot...Like A Fox 2 comments
    Jun 29, 2012 2:24 PM | about stocks: VXX, BBRY, NKE, AAPL, GOOG, GLD

    Like most law abiding Americans I was absolutely stunned by the high court's decision on 'Obamacare' yesterday upholding the Individual Mandate.

    But something hit me last night as I was cleaning my musket and shining my pitchfork.

    Roberts did the right thing.

    No, I didn't hit my head this morning.

    Roberts is brilliant. He called the president out. And as this campaign season presses forward the Obama administration is going to realize that this decision was the worst thing that could've happened to them.

    Leading the 4 liberal justices' in the decision, the Chief Justice ruled that the Individual Mandate is constitutional.

    How?

    It's a tax.

    They did not rule Congress could do this based on the Commerce Clause, they ruled the law constitutional based on Congress' authority to tax under the Constitution. I have a whole different rant about that, but let me stay on point.

    First I want to refresh your memory:

    http://youtu.be/tQMkOScXctY

    http://youtu.be/ER96UJ2aazs

    Yup…those were their words.

    The president, Pelosi and Reid bent over backwards saying that the Individual Mandate was NOT A TAX.

    The highest court in our land disagreed. Roberts played this perfectly. He hit the ball back over the net. Your move Mr. President. Try to explain to the nation that it's not a tax…we're waiting…

    Don't hold your breath. But it's sure going to be fun to watch them try. Where I come from in south Jersey, it's called a lie.

    What does this have to do with the financial markets and trading?

    Everything.

    Small and large businesses will dump tens of millions of their employees onto the public dole and that dole just keeps getting larger. What could go wrong with the government running our nation's healthcare system?? Amtrak, The U.S. Post Office, Fannie, Freddie, Social Security, Medicare, Medicaid, Immigration, the TSA…my fingers are getting tired…

    This also means that one huge bomb in 'Taxmegeddon' or the 'Fiscal Cliff' is definitely going to explode on 1 January 2013. The largest tax increase in our nation's history. This, along with Bush tax cuts expiring (capital gains rate at 60%, personal income taxes go up 20%), trillions in automatic cuts that mainly hit the Department of Defense (DoD), and a host of other train wrecks which will dump us into an immediate recession. No I didn't say that, the independent Congressional Budget Office (CBO) said it for me.

    By the way, DoD cuts = an immediate increase in unemployment. Defense towns like Seattle and Fort Worth are going to get hammered. Just what they need.

    The VIX is down 10% today on this ridiculous relief rally that everything is great in the Euro Zone (SOLD!) so I am getting long volatility like you read about in 'I'm getting Way Long Vol' magazine.

    The talking heads are saying Merkel blinked. See how that goes over when she tries to sell that at home…

    So after yesterday's ruling and me climbing out of the ceiling this morning, I'm actually ok. I think it was a great outcome and will eventually lead to the end of this massive government encroachment on personal freedoms.

    Now back to making money on others stupidity.

    Themes: Options Stocks: VXX, BBRY, NKE, AAPL, GOOG, GLD
Back To Matthew Whiz Buckley's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (2)
Track new comments
  • spot on whiz. i am looking forward to the multitude of commercials with obama stating "this is NOT a tax.." or..."if you earn under 250K...you will not see your taxes go up one SINGLE DIME..." ah..excuse me??
    29 Jun 2012, 01:01 PM Reply Like
  • It's okay. Romney vows to repeal Obamacare on day one. Will he also be repealing Romneycare?
    29 Jun 2012, 01:08 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.