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Trump
triage
post Posted: Yesterday, 06:59 PM
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In Reply To: mullokintyre's post @ Yesterday, 11:16 AM

I gave up looking for sensible investment analysis from Bill Bonner and Daily Reckoning over a decade ago. I'm hardly likely to take heed of any political analysis from them. Anyway to focus on Joe's mental deterioration and ignore Trumpy's who is keen on "herd mentality" and recently argued that the flu epidemic of 1918 caused the end of WW2 does suggest a certain bias.


My own view is that it is a sign of American weakness that so many of their leaders are in their 70's and over - that judge that recently died should have retired long ago. I would not totally disregard the views of Pelosi and the turtle (is it McConnell?), Trumpy and Biden etc but as good as they are now they were better 10 or 20 years ago. Which means they are taking the jobs of others who are better than them. Anyway I'm not a yank so they will do what they will do.



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mullokintyre
post Posted: Yesterday, 11:16 AM
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Jim Rickards, in his Daily reckoning newsletter reckons there may be some election wilddcards coming up.
here are some he suggested.
QUOTE
Investors need to be on guard against one or more surprises that can come without warning. I call these the ďwildcardsĒ in the election season. Itís hard to know which one might emerge, but itís not hard to forecast that at least one of them will. Investors should prepare accordingly. Here they are:

The Replacement of Joe Biden
The first wildcard is the potential that Joe Biden will be removed from the ticket soon and replaced by a more acceptable candidate, possibly New York Governor Andrew Cuomo. This is not as far-fetched as it sounds.

Biden is suffering acute cognitive decline. Whether this is dementia, early-onset Alzheimerís Disease or the result of Bidenís two aneurysm-related neurosurgeries in the 1970s is hard to say without direct medical examination. Still, the cognitive impairment is obvious based on Bidenís vacant stare, confused demeanor and his inability to form sentences, complete thoughts or stay on topic.

The Biden campaign strategy so far has been to keep Biden under wraps and stuck in his basement. He does not do press conferences and his few interviews involve soft-ball questions and pre-scripted answers. Policies aside, the thought of Biden having to react in the midst of a crisis or a war will embolden Americaís enemies and should chill Americans to the bone.

The crunch will come on September 29. Thatís the date of the first presidential debate. Trump is an underrated debater with more command of the facts than critics give him credit for. He did well against Clinton in 2016 and will do the same if he faces Biden.

The real problem is not whether Biden can win a debate; itís whether he can stand on the stage and speak and act coherently. Even with rehearsal and medication, this will prove exceedingly difficult.

The Democratsí options are to replace Biden before the debate (which can be done at the DNC level without new primaries or a new convention), cancel the debates or go ahead and hope for the best.

The candidate replacement option doesnít just solve the debate problem, it also gives the Democrats a better chance of a win in November. Canceling the debates (no doubt by playing the COVID-card) is a solution but it carries its own costs and highlights the problem (cognitive decline) it was meant to solve. Letting Biden go onstage live with Trump may be the riskiest choice of all.

There are no good solutions to having a mentally impaired candidate. In a normal election against a conventional Republican incumbent, Biden wouldnít stand a chance. Of course, Trumpís not a conventional Republican incumbent, so a Biden vote is really an anti-Trump vote.

Any of the above choices set the race up for an unexpected shock, especially since Bidenís condition has been largely covered-up by a compliant media. Investors should brace for a shock on this front in the coming weeks.

Mail-in Ballots
Another shock-in-the-making is election day chaos resulting from the surge in mail-in ballots. These are not traditional absentee ballots that have long been used and have proved useful. This involves tens of millions of mail-in ballots intended to replace polling places and voting booths.

We can leave aside the issue of fraud in mail-in ballots (thatís a big issue but will likely not arise on election day itself; it can take weeks or months to identify and investigate such cases). The immediate problem is counting the ballots. Many mail-in ballots arrive at the last minute or even after election day. There will be issues concerning postmarks, matching signatures, timely delivery and the sheer time it takes to open the mail and visually inspect each ballot.

This mail-in ballot chaos wonít matter in states such as California or New York where Trump has almost no chance to win. The mail-in ballots will affect the final vote count, but they wonít affect the election winner because those states are solidly in the Biden column.

But, it could be crucial in swing states such as Michigan where Trump won in 2016 by 10,700 votes, and where millions of mail-in ballots are expected to be cast. What this means is that the election will not be decided on election day; it may take days or weeks to count the ballots and announce the winner in key states that will determine the electoral outcome.

Both sides are gearing up for this. The Trump and Biden campaigns have hired over 600 lawyers each to fan out across fifty states on election day demanding court orders on extended voting hours, impoundment of mail-in ballots and mandatory injunctions against certifying results.

Neither side will concede the election until these legal contests are resolved. A similar stalemate ensued in the 2000 election between George W. Bush and Al Gore. But, that was confined to a few counties in a single state, Florida. This stalemate will involve perhaps seven to ten states, all crucial to the outcome.

Two-time presidential loser Hillary Clinton added fuel to this fire by telling Showtime: ďJoe Biden should not concede under any circumstances because I think this is going to drag out.Ē

This reveals the Democrats are already preparing for election day chaos.

The recent hoax about supposed efforts by the U.S. Postal Service to remove mailboxes to frustrate mail-in ballots is laying the predicate for election day charges of malfeasance. The reality is that mailboxes are routinely relocated for normal logistical reasons and the vast majority of mailbox relocations were done during the Obama administration.

The Chaos After Election Day Is Coming
Is there anything on the horizon worse than chaos on election day? Yes. Itís the prospect of chaos on the day after.

The one certain forecast is that the next two months will be a wild ride.

The Black Lives Matter and Antifa factions are preparing for a possible Trump victory. For them, it will be a vindication of their view that American democracy is inherently flawed, and the only solution is to destroy the system and start over.

The destruction will begin within 24 hours of a Trump victory in cities all over America. The riots and looting in Portland, Seattle, New York, Chicago and other major cities are just a warm-up for what will happen in the aftermath of a Trump victory.

The bottom line for investors is that the next 70 days will be among the most volatile in U.S. political history. An uncertain election outcome with extreme differences between the candidates would be enough to cause market volatility.

When one factors in a possible candidate switch, Bidenís cognitive decline, a delayed result due to mail-in ballots, refusal to concede the outcome, coast-to-coast election litigation and widespread riots, investors are facing a minefield of hidden dangers and catastrophic outcomes.

Reductions in equity allocations will reduce investor exposure to this litany of unexpected and shocking outcomes.

Cash will preserve wealth and reduce portfolio volatility. Gold will also provide a built-in hedge to adverse outcomes.

The last line is the most critical for me.
The rest is just just navel gazing.
Mick



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mullokintyre
post Posted: Sep 20 2020, 09:30 PM
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In Reply To: mullokintyre's post @ Sep 19 2020, 12:48 PM

Yes, RBG's death has had a profound impact on many people.
Twitterati

Mick



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mullokintyre
post Posted: Sep 19 2020, 12:48 PM
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News that Ruth Bader Ginsberg has died will make a push to get another conservative on the SCOTUS really quickly.
Not sure if Trump and the republicans will be able to pull it off, there is a veru good argument that says wait till the election is over.
But then again, it might be argued that there needs to be an odd number so as to negate the prospect of a "hung judiciary of 4 all.
This may be pivotal given the very likely possibility of there being numerous court challenges in the aftermath of the election.
mick



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plastic
post Posted: Sep 19 2020, 11:34 AM
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Six weeks to go until the election. Three for NZ's.

Trump reckons there will be a vaccine before it.

The political management handbook stipulates that if you have an ace up your sleeve, play it two weeks before the election date. That way you can catch the undecided voters before they firm up in their minds what way they will go.

So we might have to wait another four weeks before we get clarity on anything.

If Trump wins, he will unleash the military against all the rabble I expect . Watch the career politicians scurry like rats from a sinking ship.



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nipper
post Posted: Sep 5 2020, 12:03 PM
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In Reply To: henrietta's post @ Sep 5 2020, 11:52 AM

I suspect there are more than a few faceless Republican players, quite happy to let the orange buffoon open up various agendas, allowing them to slip through (and profit).

It is hard to be optimistic about many things, these days.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: rlane  mullokintyre  
 

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henrietta
post Posted: Sep 5 2020, 11:52 AM
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In Reply To: early birds's post @ Sep 5 2020, 11:25 AM

At least we know what we've got, and where we are with Trump, and I don't think he is senile.

Biden will just do as he's told by possibly faceless men. Not sure I want that.

Cheers
J



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early birds
post Posted: Sep 5 2020, 11:25 AM
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In Reply To: mullokintyre's post @ Sep 5 2020, 10:10 AM

to me
any jackass is better than trumpies-------when he wants people inject shity in their vein , man!!!! he lost me!
sleepy Joe, or whoever!!





 
mullokintyre
post Posted: Sep 5 2020, 10:10 AM
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As much as everybody hates Trump, the Dems Joe Biden is not really helping their cause.
In an interview with Ed O'keefe from CBS, Biden managed to read the words "End of Quote" from a teleprompter.
This highlights two things:
1. That the series of questions had already been telegraphed to the Joe Biden camp so they could prepare answers , even up to the point of being able to quotations in the answer. A full Ron Brfundy moment (can we bring Ron Back onto the little screen??).
2.The bloke's brain is so slow he couldn't distinguish from what he was supposed to read versus what were non verbal hints. My 89 year old father reckons half the residents in his retirement home have more cognitive ability than Joe.
The day prior to this, he read the words "Topline mesaage" from another teleprompter in a CBS interview.
Obviously they need to put the teleprompter message hints in a different colour and font to the actual message he has to deliver.
Mick



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nipper
post Posted: Sep 3 2020, 08:39 AM
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In Reply To: mullokintyre's post @ Sep 2 2020, 11:16 PM

37 trading days when markets are open, until the US election.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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