Market and Political commentary for Dec. 17th.

Today is quadruple witching day for the stock market. There should be very high volume near the close and significantly higher volume for the day. To me what is very interesting this day is that wouldn't you expect the market to be roaring this morning since the Bush Tax cuts extension for 2 more years got passed and is on the way to President Obama for signing into law? Hmmm, why do you suppose that it isn't roaring?

Seems to me that yesterday we had the tax cuts in place and on January 1st and for the next 2 years they will remain in place, and the economy will not have any more dollars really added to spur the economy along. You see nothing much has changed except one thing, we now have a $900 Billion debt added to what we had as debt yesterday. That's a lot of money to pay off with increasing interest rates.

Oh, I'm sorry, didn't you know that interest rates have been rising rapidly in spite of Ben Bernanke's Quantitative easing, which was supposed to LOWER interest rates? Can you see the scam yet? The American worker and tax payer must now pay off an even larger debt than they had on their plate before the Bush Tax cut extension Bill was passed. The 10 year Treasury yield was down as low as 2.45% within 30 days ago, but now it is over 3.5%. How's that working for ya?! That's your best bought Congress at work for you. Where were all the loud Tea Party Republicans clamoring for us not to pass this Bill? They were bought off and silenced just like all politicians are. As I have said before, we have the best Congress money can buy, and this one cost more money than past ones. Now go out there and shop and stop complaining. Long term Slavery isn't that bad! Our ancestors managed it well but it only included the "colored's" back then. This new slavery is for "whites" too, as you, your children and your grandchildren will all be working to pay off this debt for their Master.

As you can tell, I am just sick of it. Why do you think many want to kill funding for public education and continue to make our education system inferior? Whose interest does that serve? How will these less educated vote when they are of age? Just like this generation of less educated. And that's how the game is perpetuated! It's the only way people will not vote their interests, now that Corporations are seen with equal rights as individuals in where they spend their money in elections. We are killing the American Dream for a generation at a minimum. What a sad day. Oh well, I've got to get ready for the day. Have a nice weekend, in spite of the news.

Asia's reaction to extending the Bush tax cuts

Well the initial reaction is in as far as the Asian stock markets are concerned. So far most are negative at the open. It's obvious why they would be down. It's because many think they won't get paid for the debt they own of the US. Let's see our market's reaction tomorrow. I have a hunch it will be party time!

Also, I want to thank each of you for visiting my site. Tonight I reached a new record level of 63,000 visitors and those visitors read over 100,000 pages of my Blog. Again, many thanks.

UPDATE: 5:45am PST

It looks like the market will surge today as Europe is up over 1% during pre-market today. So let the party begin. My goodness, even Steve Forbes is talking about how great this is going to be, just like the Reagan years when he reduced taxes and spurred the economy, which gave us the Bull market. Doesn't it feel like the roaring 20's to you right now?

The problem is that with extending the Bush Tax cuts for everyone, we have put ourselves in a deeper hole. Besides, there is no new money, we already have had the Bush tax cuts now for 10 years and there wasn't hardly any jobs created. God help us, because we can't seem to help ourselves any more!

Why haven't the Teabaggers complained about the High Court taking away Miranda rights? Because the Teabaggers are really a fraud!

This is the reality of the Tea Bag movement which formed since Barack Obama was elected President. Their claim is that they have risen up to fight and stop President Obama and his Administration's attempt to take away their Constitutional Rights. They are worried he is going to take away their right to bear arms, even though he has never said that or implied that. They say he and his Administration are against free enterprise and want to make this a Socialist Country, because he bailed out the large Banks and the Auto Industry. These Teabaggers act purist but are anything but.

This morning there was an article on Yahoo.com about the High Court and their decisions over the last 10 years to limit Miranda rights. The title of the article is, "High court trims Miranda warning rights bit by bit." In the article the following is excerpt:

The Supreme Court made major revisions to the now familiar Miranda warnings this year. The rulings will change the ways police, lawyers and criminal suspects interact amid what experts call an attempt to pull back some of the rights that Americans have become used to over recent decades.

The high court has made clear it's not going to eliminate the requirement that police officers give suspects a Miranda warning, so it is tinkering around the edges, said Jeffrey L. Fisher, co-chair of the amicus committee of the National Association of Criminal Defense Lawyers.
"It's death by a thousand cuts," Fisher said. "For the past 20-25 years, as the court has turned more conservative on law and order issues, it has been whittling away at Miranda and doing everything it can to ease the admissibility of confessions that police wriggle out of suspects."

The court placed limits on the so-called Miranda rights three times during the just-ended session.

You see if the Teabaggers were really serious about preserving their rights, they would have been marching against the assault on our Constitutional Rights regarding unauthorized domestic Wire Taps without FISA Court approval, as was started in the Bush/Cheney Administration and continued carried by the Obama Administration. Instead, many in the Tea Bag movement are still questioning whether President Obama was elected legitimately, since they claim he was not born in the U.S. They complained they didn't want Government involvement in their Healthcare, even though many love their Medicare. They complained about Death Panels, even though no such thing was ever considered. You see, much of what they seem to stand for is fraudulent to the original Tea Bag movement on taxation without representation. We have the lowest taxes we have ever had as a country and that is why we are broke. They want the Bush Tax cuts to stay in effect, even though it will represent over 30% of the deficit we have as a country, and when you add in the Iraq and Afghanistan Wars spending, it adds up to virtually the entire Budget Deficit for the next 10 years.

Looking at the chart above from an article by the Center on Budget and Policy Priorities, you can clearly see that the Bush Tax cuts are responsible for a significant portion of the deficit in the coming decade. And do you think Tea Baggers want these tax cuts to continue? You bet they do. Just ask former Republican Representative from Texas, Dick Armey, one of the founders of the Tea Bag movement. Oh, and by the way, it was the same Dick Armey that was in favor of open Immigration across our borders and also favored a Free Enterprise System of little, if any, or no regulation. You see they are frauds. If nothing else, their positions are inconsistent, as are also the Republican leaders of the Senate. Their entire game plan is to deny President Obama (and the country) any success out of the messes they have helped create in the first place.