Look out, corporate and middle America!There's a new economic and capitalism threat occupying your (Congressional) House...namely, Alexandria Ocasio-Cortez, who has been busy sucking all the oxygen out of Democrats' House with the unveiling of her socialism-on-steroids "Green New Deal" this past week. As 2020 Democrats jump on board with her plan/proposed bill, Democratic House Speaker, Nancy Pelosi sarcastically referred to it as the "Green Dream."
If you want to create a liquidity crisis in U.S. equity markets, then go ahead...adopt and enact the ideological measures put forth in that deal/bill. If you want to create an economic crisis, in America, as well as the rest of the world, then go ahead...adopt and enact the ideological measures put forth in that deal/bill. Foreign and domestic investment in the U.S. will disappear.
As it is, U.S. and global markets have been fragile and volatile for over a year, and absurd political games such as this will only suck the liquidity out and increase volatility at an ever-accelerating pace. Offshore U.S. corporate monies will never be repatriated and invested in America. In fact, more funds will be hidden in offshore accounts under this scenario. This deal is a clever counter-measure to President Trump's Tax Cuts and Jobs Act, enacted on December 20, 2017. When companies fail to bring offshore monies to the U.S. by the 2020 election, Democrats will claim that the President's policies haven't worked and that Americans should, instead, embrace their ideology. Any benefits gained from this Act will be shattered. At that time, I was pondering whether the Dow 30 Index would reach 25,000. In fact, it reached a high of 26,951.81 in early October 2018 (just prior to the U.S. midterm elections) before it started to tank, and, interestingly enough, it's hovering just above 25,100, as of Friday's close.
You can see from the following weekly chart of the MSCI World Global Index that price rallied, after touching major support at 1800, and is now sitting at a critical intersection of a long-term uptrending Andrew's Pitchfork median and major price resistance level around 2030.
Just wait until the big bank executives are hauled before Democrat Maxine Waters' Financial Services Committee (on which Ms. Ocasia-Cortez sits as a member) and watch this political farce continue.
Keep an eye on the MSCI World Global Index, because if that begins to implode, you'll see U.S. markets follow suit.
Perhaps GOLD will become the favoured hedge for traders/investors against such a catastrophic scenario...and we'll see the rally accelerate, as I described recently in this post.
Now it looks like Democrats (including Hillary Clinton and the Clinton Foundation) may be faced with serious investigations involving potential collusion with Russia and threats to national security on a variety of matters in the coming weeks, according to this latest report from The Hill's John Solomon. It's anticipated that the U.S. Inspector General will release a report by late spring/early summer in this regard, along with FISA abuse by the DOJ and FBI leading up to the 2016 election and beyond. As well, Senator Lindsay Graham will be investigating these issues, along with this FISA abuse, via his Senate Judiciary Committee.
And, thanks to active socialist resistance to Amazon's proposal to build a second headquarters in Long Island, Queens from New York politicians such as Ms. Ocasio-Cortez, Amazon are abandoning their project, which would have created 25,000 jobs...their statement is below.
And, the knock-on effect has erupted...
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| Source: Bloomberg.com |
We'll see if Virginia's politicians are any friendlier towards and supportive of capitalism than New York's...
So, Democrats' far-left socialist movement is already underway and is, seemingly, effective at stopping capitalism in its tracks.
Senate Majority Leader, Mitch McConnell is planning to force a vote in the Senate on this "Green New Deal." We'll see if Senate Democrats and their 2020 Presidential candidates will "put their money where their mouth is" to support it...or not.
And, is this constitutional overreach by Democrats?...take a look at this Associated Press article, "House Panel Seeks Documents on 81 People Linked to Trump." How will House Democrats find any time to draft legislation over the next two years that actually benefits Americans when all their attention is focused on these shenanigans?
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| Source: washingtonexaminer.com |
Meanwhile...
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| REALITY CHECK: A good reason to NOT adopt the "Green New Deal"...it would add trillions to the already ballooning $22 Trillion National Debt! |
P.S. They're coming for your cows...time to stock up on Big Macs! 😊
Judge Jeanine's Opening Statement Feb. 9, 2019 on Fox News TV's "Justice With Judge Jeanine"
* UPDATE March 26...
This series of tweets from Senate Majority Leader Mitch McConnell mentions that the Senate will vote today to begin debate on the Democrats' Green New Deal...stay tuned...
RESULTS OF THE VOTE...all Republicans voted "against" beginning to debate the Green New Deal...the Democrats did not vote "for" or "against" and, instead, voted "present."
So, it looks like Democrats don't even support a discussion of their own deal in the Senate, despite their on-air declarations of support to the media and to Americans...so, it will not be advanced in the Senate.
Rather, it appears to simply be a 2020 election tool/prop and not a serious proposal that they're willing to defend in Congress.
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| Continue reading at BNNBloomberg.ca |
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| Source: CTVNews.ca |
Democrats have no Trump...but, they have socialism...and most of it is pretty extreme judging from the "offerings" of their Green New Deal...
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| Source: ZeroHedge.com |
The truth about the Democrats' Green New Deal...
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| Source: ZeroHedge.com |
