A significant market correction is far more likely than is a continuation of the upward trend (e.g. DJIA at 12,000 is much more likely than 30,000). The FED is going to start quantitative tightening in a few months by shrinking their bond portfolio and increasing interest rates. Central banks around the world are going to do the same.Originally Posted by Ma'ake
A guy named Barton Swaim reviews 3 books in the Wall Street Journal. All 3 are about the state of our democracy. It’s a very interesting read. It’s probably behind the paywall, so here’s one excerpt:
https://www.wsj.com/articles/the-rig...acy-1520630381Yascha Mounk in “The People vs. Democracy: Why Our Freedom Is in Danger and How to Save It” (Harvard, 393 pages, $29.95) answers Mr. Sunstein’s question with a hearty “Yes.” “Donald Trump’s election to the White House has been the most striking manifestation of democracy’s crisis,” Mr. Mounk writes. “It is difficult to overstate the significance of his rise.” It may be difficult, but Mr. Mounk has a go: “For the first time in its history, the oldest and most powerful democracy in the world has elected a president who openly disdains basic constitutional norms—somebody who left his supporters ‘in suspense’ whether he would accept the outcome of the election; who called for his main political opponent to be jailed; and who has consistently favored the country’s authoritarian adversaries over its democratic allies.”
Mr. Trump is guilty of some appalling demagoguery, true enough (though note again the heavy emphasis on rhetoric and attitudinizing rather than action: “disdains,” “called for,” “consistently favored”). But versions of all these accusations might have been, and indeed were, leveled against previous presidents—both Roosevelts and Nixon, for sure—and constitutional norms held up just fine.
It’s true, though, that Mr. Trump doesn’t seem to care all that much about the Constitution or American democratic institutions. Is that a reflection of the American electorate’s own attitude? Mr. Mounk amasses a great deal of evidence indicating that Americans are losing faith in those democratic institutions. We’re told, for instance, that in the U.S. “close to one in four millennials now think that democracy is a bad way of running the country—an increase of over 100 percent compared to the oldest cohorts in the sample.” But surely this is only evidence that people change opinions over time. That the youth develop greater regard for a nation’s institutions as they grow older is hardly unusual. And, in any case, weren’t the democracy-loving older Americans more likely to vote for Trump, not less?
Mr. Mounk suggests one way liberals can counter Mr. Trump’s right-wing “ethnocentric” nationalism with a nationalism of their own. The trouble, as he puts it, is that American liberals are “increasingly directed toward a radical rejection of the nation and all its trappings.” If I may put the point in my own words: It’s going to be pretty hard for progressives to offer a patriotic alternative to right-wing nationalism when they’ve spent the past half-century placing their hopes in transnational bodies and arguing that national borders are arbitrary constructs. Mr. Mounk proposes what he calls “inclusive patriotism,” which after many pages of description sounds like ordinary left-liberalism but with an admission that securing a nation’s borders isn’t a terrible idea.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
Today’s unsigned editorial in the Wall Street Journal:
“Hillary Clinton Leans Out,”The shock of losing the Presidency to Donald Trump has to be mind-blowing, but Hillary Clinton keeps offering evidence for why she may have been the only Democrat in 2016 who could have managed the feat.
Mrs. Clinton provided the latest demonstration on a visit to India in which she was asked to explain her loss. She blamed the “backwards” parts of America where “you didn’t like black people getting rights; you don’t like women, you know, getting jobs; you don’t want to, you know, see that Indian-American succeeding more than you are.”
This a reprise of her famous “deplorables” crack from the campaign trail, but she didn’t stop there. She also complained about “married white women” who supported Mr. Trump because they were too weak to stand up to “a sort of ongoing pressure to vote the way that your husband, your boss, your son, whoever, believes you should.”
Mrs. Clinton was supposed to be the first female President who rose as the feminist champion for the aspirations of all American women. Yet it turns out she really believes that any woman who voted against her must have been a mental or emotional prisoner of some man, trapped in a kind of political purdah.
Democrats may think Mr. Trump is unfit to be President, but maybe they should take responsibility for nominating a candidate who had such contempt for so many Americans.
Appeared in the March 14, 2018, print edition.
https://www.wsj.com/articles/hillary...out-1520983364
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
Wow that is just straight up offensive. We voted for HRC but only because Trump is such a truly horrible person and candidate, not because we were excited about her or her platform. I’ve spoken to lots of people who felt the same way. An interesting poll would be to see how many people plugged their nose and voted for her, I bet it was significant.
Further, while I don’t agree with or understand this I know of a lot of people who felt like me in the opposite direction, that they couldn’t vote for HRC in good conscience. It had nothing to do with being weak-minded or wanting to oppress minorities.
There are plenty of things that are deplorable about HRC, and interestingly the #metoo movement has shined light on her actions to destroy Bill’s accusers. Bottom line is she is no champion of women and her past actions in that regard set back women being believed when they said they were being harassed a few decades.
I still remain very opposed to Trump but HRC’s post election nonsense makes me wish I would have simply abstained from voting.
What has happened to our country?
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Last edited by Rocker Ute; 03-14-2018 at 12:32 PM.
I didn't vote for either of them. First time ever for me.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
Me either. She was as uniquely horrible as him, plus she was on the wrong side of most policies. Unless the Dems can push Joe Manchin or some other blue dog, I suspect I’ll either write-in or vote third party again.
“Children and dogs are as necessary to the welfare of the country as Wall Street and the railroads.” -- Harry S. Truman
"You never soar so high as when you stoop down to help a child or an animal." -- Jewish Proverb
"Three-time Pro Bowler Eric Weddle the most versatile, and maybe most intelligent, safety in the game." -- SI, 9/7/15, p. 107.
We may have a pretty serious problem:
First, the Trump Administration announces a set of sanctions on Russia - which I think is LONG overdue. Pompeo seems to understand the Russian threat, also good. https://www.nytimes.com/2018/03/15/u...sanctions.html
This morning I got the following email from the US Cert - (part of Homeland Security, watches & warns about Cyber Security issues):
https://www.us-cert.gov/ncas/alerts/TA18-074A
We might be entering / escalating a Cyber War...
For the second time in three election cycles I wrote in a candidate.
"It'd be nice to please everyone but I thought it would be more interesting to have a point of view." -- Oscar Levant
On Tariff wars - one area we're highly vulnerable is soy bean exports. 1/3 of our total soybean crop is exported to China, and if they decided to retaliate by slapping a high tariff on soy beans, growers in Latin America are already prepared to spool up production... with more than a few of those nations already in the Trans Pacific Partnership.
Ouch. This isn't going to help much.
It definitely looks like Americans were in a catch-22 on Election Day. Let’s hope both parties put up better candidates for 2020.
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I agree with this.
Some redactions would be required for national Security reasons, but the more transparency the better, IMO.The entire Russia affair—whether it’s allegations that Team Trump colluded with Vladimir Putin’s criminal police state, or revelations that federal law enforcement abused their surveillance powers—has enormously damaged public trust in government and faith in its institutions. A contested House Intelligence Committee report wrapping up its investigation is sure to be yet another corrosive. What’s needed is the trust that comes from transparency. And nothing would be as transparent as to simply release the entirety of the testimony and other evidence that is in the committee’s possession.
http://www.weeklystandard.com/we-don...rticle/2011920
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
Letting politicians ‘investigate’ is stupid. We all know that. They’re never going to be neutral or impartial, and they’re not even good amateur detectives, let alone professional ones.
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Completely agree. That's why I like the idea of just releasing the transcripts of all their closed-door interviews, with appropriate redactions for classified stuff.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
Which is why they won't do it.
They had a conclusion they wanted to reach, then cherry picked the data that allowed them to reach that conclusion.
Agreed. Her and Bill are not doing the Democrats any favors in the current #metoo climate.
Sent from my iPhone using Tapatalk Pro
Peggy Noonan pretty much hit the nail on the head this morning.
https://www.wsj.com/articles/deliver...ton-1521153317
I thought that was an excellent column. Do you think the Democrats' progressive base will allow them to nominate more Lambs? I think both parties have a huge problem with their more extreme bases.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
I'll reply to myself and say that I really miss the days of yore when Congress and the POTUS would work out compromises. We got legislation that was not perfect but moved the country forward. Reagan and Tip O'Neill did that. So did Bush 41. Even Bill Clinton and Newt Gingrich did. I think Bush 43 did too (No Child Left Behind, for example.) But that started to die in GWB's second term and was totally dead during Obama's entire presidency (and both sides were at fault; we can argue about the distribution of blame). Now compromise is not just dead, it's mummified.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
I think it depends on the local dynamics, but I think the Democratic Party is definitely in "big tent" mode. Now ain't the time for ideological purity. My hunch is the local Dems in Pennsylvania decided they had to veer right, ie, the lesson of Trump, similar to how Bill Clinton took the party to the right (ie more to the center) to adjust to the hard lessons of Carter, Mondale, etc.
That would be smart. I, of course, still belong to the stupid party.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
That's not interference, just the consequences of your own actions.
Bernie Sanders supporters should be delighted. Trump is doing everything he advocated.
One thing I have learned in a long life: that all our science, measured against reality, is primitive and childlike -- and yet it is the most precious thing we have.
--Albert Einstein
The fact that life evolved out of nearly nothing, some 10 billion years after the universe evolved out of literally nothing, is a fact so staggering that I would be mad to attempt words to do it justice.
--Richard Dawkins
Be kind to all, for everyone you meet is fighting a great battle.
--Philo
Yeah. Like moving the US Embassy to Jerusalem, appointing Gorsuch and dozens of other conservative judges, cutting taxes, massive deregulation, and a few others. Bernie must be proud of his influence on Trump.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
BS didn’t have many planks. Just tarrrifs, nativism, steel and coal, and bashing tech and Wall Street.
One thing I have learned in a long life: that all our science, measured against reality, is primitive and childlike -- and yet it is the most precious thing we have.
--Albert Einstein
The fact that life evolved out of nearly nothing, some 10 billion years after the universe evolved out of literally nothing, is a fact so staggering that I would be mad to attempt words to do it justice.
--Richard Dawkins
Be kind to all, for everyone you meet is fighting a great battle.
--Philo
Well, Trump has no ideological moorings so I guess he takes a Chinese restaurant menu approach to policy: One from column A, another from column B....
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
This is the order appointing Mueller and laying out the scope of his authority:
*****
(a) Robert S. Mueller III is appointed to serve as Special Counsel for the United StatesDepartment of Justice.
(b) The Special Counsel is authorized to conduct the investigation confirmed by then-FBIDirector James B. Comey in testimony before the House Permanent Select Committee onIntelligence on March 20, 2017, including:
(i) any links and/or coordination between the Russian government and individualsassociated with the campaign of President Donald Trump; and
(ii) any matters that arose or may arise directly from the investigation; and
(iii) any other matters within the scope of 28 C.F.R. § 600.4(a).
(c) If the Special Counsel believes it is necessary and appropriate, the Special Counsel isauthorized to prosecute federal crimes arising from the investigation of these matters.
(d) Sections 600.4 through 600.10 of Title 28 of the Code of Federal Regulations areapplicable to the Special Counsel.
https://www.justice.gov/opa/press-re...67231/download
*****
This is 28 C.F.R. § 600.4(a):
*****
§ 600.4 Jurisdiction.
(a)Original jurisdiction. The jurisdiction of a Special Counsel shall be established by the Attorney General. The Special Counsel will be provided with a specific factual statement of the matter to be investigated. The jurisdiction of a Special Counsel shall also include the authority to investigate and prosecute federal crimes committed in the course of, and with intent to interfere with, the Special Counsel's investigation, such as perjury, obstruction of justice, destruction of evidence, and intimidation of witnesses; and to conduct appeals arising out of the matter being investigated and/or prosecuted.
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
according to CNN, Sessions is recused from any investigation re the 2016 election, not just Russia. That would include ane election law violations by cohen, who also had a title and fundraising role at R N C
Last edited by concerned; 04-10-2018 at 05:40 PM.
Politics in the 21st century aren’t turning out the way I hoped they would.
One of the country’s biggest publishers of fake news says he did it for our own good
https://www.bostonglobe.com/metro/20...ews:newsletter
"It is only with the heart that one can see rightly; what is essential is invisible to the eye."
--Antoine de Saint-Exupery
"Things fall apart; the centre cannot hold."
--Yeats
“True, we [lawyers] build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own principal amusement. There is little of all that we do which the eye of man can see. But we smooth out difficulties; we relieve stress; we correct mistakes; we take up other men's burdens and by our efforts we make possible the peaceful life of men in a peaceful state.”
--John W. Davis, founder of Davis Polk & Wardwell
This guy is my new hero.
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