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Politics And The Markets 11/30/21

Nov. 30, 2021 12:00 AM ET482 Comments
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Political Comments

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Political Comments profile picture
This is the go-to destination for political comments on Seeking Alpha.These comments are not regulated with the same rigor as the rest of the site, and this is an 'enter at your own risk' area as discussion can get very heated. If you can't stand the heat...you know what they say...The one guideline we do still require strict adherence to is refraining from personal attacks on fellow commenters. Regardless of which side of the political divide you find yourself, please be courteous and don't direct abuse at other users.

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Comments (482)

The market is cracking because of the possibility of Yellen ramming through the 15% minimum global tax without the approval of the Senate..The OECD has as a principle of "build back better" which is a Biden and Yellen gospel. . Maybe in a few years, the global tax will be raised to 25%. The OECD (socialistic European org.) and Biden(Yellen) want to financially equalize the world. That's what is causing the market to crash. The virus and the fed are known problems with known effects and consequences.
Interest rates and inflation are predictable.
We must stop Yellen. Tell your Senator.
Henry Miles profile picture
@tiffiny vanvorken

Wrong. We need to put an end to global competition based on tax rates. (Too bad we can't do the same with respect to state taxes.)
C. King Alpha Flunkie profile picture
@tiffiny vanvorken The OECD is not a European organization and it is also not ideological. Where do you get such nonsense?

"That's what is causing the market to crash."

I have seen some market dips recently, but not a crash. Do you consider a drop of 1.5% to be a crash? I guess you weren't investing in October 1987, when it fell over 20% in one day, or in 2007-08, when it fell about 50% during the financial crisis.

What is causing the dips right now are concerns about the omicron variant, inflation, and a likely raise of interest rates - not a proposal for a minimum corporate tax rate.
danielaqwe profile picture
@Henry Miles
... it is a race to the bottom, which does not benefit any country, not their people and not even their governments.
The "Inflation Guy".

Former Barclays trader, spent 20 years honing his message.


""While people under 40 have barely experienced it, inflation, he says, “is the risk that every investor is born with, and if you do nothing to address that inflation risk, you have it until the day you die.”"

There's a great chart in that article. I'm old, and I did rental real estate as a hedge. You have more options today.
Divi-It-Up profile picture
@daustin97222 What would be your option of choice be for the people here under 40?
@Divi-It-Up Probably a mix of gold miners (not the gold - the miner), all-cash apartment REITs, I-bonds, foreign stock indexes, ...

And of course, I still believe in and own rental real estate which has solid pricing power in turbulent times. But not if the tenant pools are dying in great numbers and not if the government attempts to control pricing power and/or limits availability.
@daustin97222 Our current CPI Consumer Price Index has hit 6.2%. Am I the only one to realize we pay that with after tax money?
Fuzzy math but close, I need to make roughly 9% just to be even.
Out of the mouth of Powell. The other day he said in not as plainspeak as I use. All that he said about,transitory inflation, was politically inspired BALONEY.
America education and training needs serious update and retread
And how to get along school 🏫
This guy Biden he screws things up
Who took all that money today you better watch your step I think
That turned into a bit of party 🎉
I’m going to to find where all the parties are tech.
Strike three for Biden. The losses keep mounting.

A judge on Tuesday blocked President Joe Biden’s COVID-19 vaccine mandate for federal contractors, finding that Biden likely lacks the authority to force them to get vaccinated.

“This is not a case about whether vaccines are effective. They are. Nor is this a case about whether the government, at some level, and in some circumstances, can require citizens to obtain vaccines. It can,” U.S. District Judge Gregory Van Tatenhove, a George W. Bush nominee, wrote in the 29-page order.

“The question presented here is narrow. Can the president use congressionally delegated authority to manage the federal procurement of goods and services to impose vaccines on the employees of federal contractors and subcontractors? In all likelihood, the answer to that question is no,” he said.

The judge granted a request for a preliminary injunction by the attorneys general of Kentucky, Ohio, and Tennessee.

“This is not about vaccines, it’s about the mandates,” Ohio Attorney General Dave Yost, a Republican, said in a statement.

“The judge’s opinion clearly states that and it has been our position all along that the president cannot impose these mandates on the people.”

Van Tatenhove sided with the states.

Defendants, he said, failed to point to a single instance when the services act was used “to promulgate such a wide and sweeping public health regulation as mandatory vaccination for all federal contractors and subcontractors.” He also expressed concern that the mandate “intrudes on an area that is traditionally reserved to the States,” citing the Tenth Amendment of the Constitution.

A preliminary injunction means the mandate is blocked for now in the three states, with the possibility of becoming a permanent block or eventually being allowed to take effect.

A preliminary injunction has already been entered against the Biden administration’s health care worker vaccine mandate and a similar mandate for private businesses.
@PIRockford glad to see you still in the ring
The Foundation for Economic Education (FEE) has a new project called
the "Fresh Start States" initiative, which seeks to educate transplants from blue to red states not to vote for the policies that ruined their old homes. https://fee.org/freshstart
“The View” co-host Joy Behar said Tuesday that the 1st and 2nd Amendments to the U.S. Constitution needed to be “tweaked a little bit” because the Founding Fathers did not have things like AR-15s and Twitter.

What the hell is she waiting for? Go on, start the process.

This will involve hard work, of course. You can't just sit online and preen to those who already agree with you. No siree. Instead, you'll have to go around the states - traveling and preaching until the soles of your shoes are thin as paper. You'll have to lobby Congress, over and over and over again. You'll have to make ads and shake hands and twist arms and cut deals and suffer all the slings and arrows that will be thrown in your direction. You'll have to tell anybody who will listen to you that they need to support you; that if they disagree, they're childish and beholden to the "gun lobby"; that they don't care enough about children; that their reverence for the Founders is mistaken; that they have blood on their goddamn hands; that they want to own firearms only because their penises are small and they're not "real men." You're going there to solicit their support for amending two of the articles within the Bill of Rights.

Make no mistake: It'll be unpleasant strolling into Pittsburgh or Youngstown or Pueblo and telling blue-collar Democrat after blue-collar Democrat that he only has his guns because he's not as well endowed as he'd like to be. It'll be tough explaining to suburban families that their established conception of American liberty is wrong. Your friends might even suffer at the polls because of it. But that's what it's going to take. So do it. Start now. Off you go. Have at it, Joy.
Chart Rider profile picture
Chris Christie’s book sold 2200 some odd copies the first day it hit the shelf. The only people who bought it were journalists and curious democrats.
@Chart Rider This man shares too much DNA (soul brother) with DJT, and I suspect you see it the same way.
The Department of Justice on Monday refused Steve Bannon’s request for transparency and his right to unseal documents from the DOJ regarding the sham J-6 Committee investigation.

The DOJ called this an attempt by Steve Bannon to “try the case in the media” by making all documents and material public so the American people can be informed and make up their own mind on the merits of the case. But the regime does not want this. After all, how is the regime supposed to control the narrative if the truth gets out?

Steve Bannon is charged with contempt of Congress for refusing to cooperate with Liz Cheney’s garbage Jan. 6 Committee.

But on Tuesday several major US media outlets filed a legal brief in support of Bannon and his attempts to be transparent with the American public.

The Daily Mail reported:

"A coalition of major media companies has filed a legal brief in support of former Trump chief White House strategist Steven Bannon as he fights a proposed protective order in court that would keep him from publicizing Jan. 6th documents and information.

The media group – which includes CNN, ABC, NBC, plus the Washington Post, the New York Times, and the parent company of the Wall Street Journal – filed a motion to intervene as Bannon’s fights the government’s proposed order as part of his contempt of Congress case.

The order would severely limit what Bannon can do with the trove of information that the feds must share as part of the normal discovery process and have already begun handing over. According to a prior government filing, this includes more than 1,000 pages of witness testimony, grand jury material, and even emails from staff for the House Jan. 6th Committee investigating the Capitol riot.

The press group argues that the government’s proposed order would violate the First Amendment – and takes on the government’s own contention that allowing Bannon to use the materials would result in pretrial publicity that could taint the jury pool."
C. King Alpha Flunkie profile picture
@PIRockford Bannon asking for transparency? That's really funny.
Chart Rider profile picture
@PIRockford Steve Bannon can’t afford a robust defense, he wanted the docs unsealed so he could ask the internet what his argument should be.
Steven Bannon reminds me of a thousand Lounge Lizards I tried to avoid back in my days as a traveling guitar player.

Always a little unsavory. Always someone you could not trust (watch your stuff!). Just blew in from somewhere and heading nowhere. Probably see them again somewhere else. They all kinda looked like him.
According to Angelique Coetzee, the chairwoman of the South African Medical Association who first raised the alarm of the new COVID variant, says the new variant known as the ‘Omicron’ causes “unusual but mild symptoms.”

On Monday, the Assistant Minister of Health and Wellness testified during a parliament hearing that not one of the Omicron variant cases identified needs oxygen support and hospitalization.

According to Assistant Minister Sethomo Lelatisitswe, Botswana has still 15 ‘Omicron’ variant cases, 3 of the patients showed mild symptoms while the rest did not. Of those 15 cases, 11 were vaccinated, while those 4 unvaccinated did not show symptoms at all, Lelatisitswe said.

The country recorded 19 cases of ‘Omicron’ variants in total. Four of those cases were foreign nationals on a diplomatic mission and left the country after their diagnosis.

According to the latest update from the local news MMGI, “the country’s COVID-19 cases however remain low with an update from the government this evening showing 602 active cases as at November 26. The country has thus far fully vaccinated 33.3% of adults, with 60.2% having received their first dose.”
MyPrivilegeIsShowing profile picture
Chris Cuomo ‘indefinitely suspended’ by CNN

Adios, Fredo
There having some kind of Christmas thing I’ll stop by a couple go home 🏠
Everything was a mess tech , no comment , no suggestions no ideas
CNBC host and self-described germaphobe Jim Cramer on Monday evening went on an insane rant and called on Joe Biden to impose a universal vaccine mandate enforced by the military.

Cramer is so paranoid about germs that he wouldn’t even bring FedEx boxes into his home unless they sat outside for 48 hours to “degerm” during the height of Covid.

Now Cramer is projecting his neurosis onto the American people.

Cramer said it’s “psychotic” to allow people to “lawfully walk around unvaccinated.”

His solution? Impose a universal vaccine mandate and use the military to enforce the order.

“It’s time to admit we have to go to war against Covid. Require vaccination universally. Have the military run it. If you don’t want to get vaccinated, you better to be ready to prove your conscientious objector status in court, and even then you need to help in the war effort by staying home until we finally beat this thing,” Cramer said on Monday night’s edition of Mad Money.

Quick recap of Cramer’s demands:

No state’s rights
Use military against US citizens
House arrest for unvaccinated without due process
Screw the 1st Amendment and to hell with the 4th Amendment

This man is very dangerous spewing that garbage!
Chart Rider profile picture
@PIRockford State’s rights are a fantasy that need to be abolished. The public is too stupid to make the right decision and need to be forced.
Divi-It-Up profile picture
@PIRockford "Cramer is so paranoid about germs that he wouldn’t even bring FedEx boxes into his home unless they sat outside for 48 hours"

And then the porch pirates paid him a visit. . .
Glad to see that the S/A community is keeping up the pressure against the lies, fraud, treachery, and assault on our democracy.

We must remember that the Fuhrer was most dangerous and effective AFTER he was released from prison for his assault/putch on the German democracy, so if we let our guard down and the pressure on our priorities is not maintained, we could still lose our democracy the same (or worse) way that they did.

Those that are clever, shrewd, and exploitive against the gullible, and unsurpassed in their selfish goals to seize power and dominate and subjugate are hard at work and will not quit until that goal is achieved.

The investigation of the Russian intrigue continues, and if treachery is indicated, the malefactors must be brought to justice - else we will have a hand in our own demise.
Thanks for all the great work of the commenters, and I am talking about the ones that I have not muted.
Joe Biden earlier Tuesday signed four bills related to benefits for veterans. Biden had no clue what he was signing since he didn’t read anything. “Alright, here we go. Amend title—eh, I’m not gonna read it all. I’ll just sign it,” said Biden.

After signing the bills, Biden pulled his mask down to talk to someone across the room. As soon as Biden began rambling off script, the White House cut the audio and blasted music.

"Biden breaks White House mask mandate by slipping mask down to talk to someone across the room

*White House staffers immediately cut off his audio and start blasting music*"

— Danny De Urbina (@dannydeurbina) November 30, 2021

This isn’t the first time the White House has cut the audio feed as Biden was speaking off-script.

Over the summer the White House cut the audio as soon as Joe Biden tried to answer a question about Afghanistan.
Divi-It-Up profile picture
@PIRockford "Over the summer the White House cut the audio as soon as Joe Biden tried to answer a question about Afghanistan."

Even Biden has implied that he is not the person in charge when stating that "I'm not supposed to take questions but go ahead."

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