Old Dogs, New Tricks

Just two months after the “aggressive behavior,” or “insurrection” if you prefer, at the Capitol Building the U.S. government faced yet another major uprising last week, this time in the White House.

According to a report, President Joe Biden’s German Shepherd named “Major” had a serious “biting incident” with White House security late last week.  As a result, Biden’s dogs were returned to Delaware after Major’s “aggressive behavior” incident, said the CNN report.

 This photo didn’t age well. None of it.

It’s usually only news these days when man bites dog, but CNN always takes you the extra mile.

Time heals all wounds, doesn’t it?

Maybe it doesn’t, at least not yet in the fractured, cracked, divided, tumultuous, unsettled Republican Party.

Donald Trump doesn’t like having his name thrown around by the RNC these days.

In a Monday letter to Trump attorney Alex Cannon, RNC chief counsel J. Justin Riemer said the committee while fundraising  “has every right to refer to public figures as it engages in core, First Amendment-protected political speech.”

He maintained that Trump had also “reaffirmed” to the chair of the RNC, Ronna McDaniel, over the weekend “that he approves of the RNC’s current use of his name in fundraising and other materials.”

Trump responded to the letter with a statement that put that agreement in doubt. “No more money for RINOS,” or Republican in name only, he stated. “They do nothing but hurt the Republican Party and our great voting base.  They will never lead us to greatness.”   He’s nothing if not “like a dog on a bone.”

Hmm.  One of the two sounds like a head fake.

The RNC wants to use Trump’s name for the good that he brings to the party-aka money and loyalty from his base.  Conversely,  Trump’s instinct must be to control the use of his name and image to position himself as the undisputed leader of the GOP.

Further, he wants to raise his own money to, amongst other initiatives, exact revenge by backing challengers to Republican incumbents who crossed him by voting to impeach him for inciting the Capitol riot.  Trump has the shock collar out.

All of this divisiveness in the RNC when the Great Unifier just took over the Oval Office seems tawdry at best.

But, Trump is Trump.  Remember, you can’t teach an old dog new tricks.

And, in the White House or in pursuit of the same, it’s a major mistake to bite the hand that feeds you.

 

 

Knuckle Scraping

President Joe Biden accused Texas Governor Greg Abbott of “Neanderthal thinking” yesterday after Abbott announced that the great state of Texas was now “100 percent open and a mask mandate was no longer in place.”

Mississippi’s governor did essentially the exact same thing on the exact day but nobody really cares about people in the great state of Mississippi, or so it seems.  Or, the electoral votes pale by comparison.

You see the real prize for the group that lives to divide (they call it unifying) is Texas.  They thought they had a shot with Beto v Cruz four years ago.  Somewhat close.  They thought they had a shot with Biden v Trump four months ago.  Somewhat closer.

Biden, we are mostly sure, didn’t think this way when the teleprompter and/or notes told him to utter “Neanderthal.”  He was looking out for the citizens of course.

After all, he flew in just last week to survey the land and the snowmen that had frozen the week prior.  Why he even assembled almost all of the “leaders” for a quick photo op and some words of unifying encouragement to help out with the thaw.

He recognized Congresswoman Shirley Jackson Lee for her help.  He meant Sheila Jackson Lee surely.  And, don’t call me surely.

He stumbled terribly over another name or two as well.  Then, he stopped himself and asked himself, “wait, what am I doing?”  Abbott was six feet from Biden and surely (again) wondered the same.

Biden didn’t mention the governor in his “pat on the back, mispronunciation, obligatory before I board Air Force One gathering.”  Hmm.

Maybe the third time is a charm.  Let’s gang up on Abbott.

Was Biden’s assessment of Abbott’s Neanderthal thinking right on?  Yes and yes seems to be the two answers depending upon who you ask.

Back when man scrapped his knuckles along the ground he could choose to come out of his cave when he wanted.  If danger lurked he could choose to stay put.  That sounds about like what Abbott has opened back up.

But, no mask?  Wow!  Maybe Texas could have opened back up and at least kept the mask mandate in place.  Some people think a mask helps while others don’t.

At least a mask makes it appear that you care.  And,  appearances count for everything.  Ask Biden.  He appeared in Texas and thinks he somehow helped warm it up while others don’t.

Heck, even Dr. Fauci who surely(and again) is old enough to remember his first cave thinks masks are important.  Now.

Although, the director of the U.S. National Institute of Allergy and Infectious Diseases and the chief medical advisor to the President said almost a year ago today(3/8/20) as we first got into his mess “that there is no reason to be walking around with a mask.”  Then.

So now and then we change our minds.

But, for those that eye Texas as the ultimate prize, they can only think Abbott has lost his.

Biden can relate.

Has the governor created another of those dreaded super spreader moments?

Time will tell.

But for the left, now’s the time to use every bit of it as political capital.  They do it well and they do it often.

 

 

 

 

Hot Air

Opportunity.

When one sees it, one must capture it.

So it goes on the national political scene where an opportunity is rarely missed.  As Henny Youngman might say, “take last week, please!”

With so much cold air blowing down into Texas, the hot air emanating from all comers was coming from all corners.  Hot takes were aplenty on the existential threats that plague us so.  Climate change and coronavirus were topics 1 and 1a.

Al Gore invented the internet and became an authority on climate change.

Bill Gates one-upped him and gave us the programming language software to run the microchips that run the internet and now is following in Gore’s nonfossil footprints.

Gates weighed in Sunday on his latest endeavor.  “The changes in the wind patterns are allowing those cold fronts to come down from Canada more often,” Gates explained. “There’s a pattern of wind that, … as it gets warmer, that breaks down. There’s no doubt that we’re putting CO2 into the atmosphere. There’s no doubt that that increases temperatures and that affects the weather. ”

So warmer winds made the colder winds blow in Texas.  Who knew?  Ted Cruz did.  Apparently, the wind change stopped at the border though as Cruz took a fossil-fueled jet down to Mexico to avoid the resultant freeze and snow if only for a day or so.

Gates continued, “You know, there’s no magic date that it’s all great until then, and it’s terrible once you cross that threshold. It’s pretty linear as far as we know. 2050 happens to be the soonest realistic date for the world to change all of these source emissions.

Luckily we have more time than some of those also-ran politicians that fell by the wayside told us we have left.  Remember when Liz Warren, Andrew Yang, Cory Booker, and Julian Castro one-upped each other with the time left to save our planet?  Eleven years said one, eight years said the other. Five years anyone?

Castro said it was already too late.  Dammit.

Thankfully Sheila Jackson Lee and Alexandria Ocasio Cortez rushed down from Washington to help in the present while we debate the time left for this planet.  They handed out thousands of free lunches and warm blankets to those without in the deep south during the deep freeze. Fix the grid already and you don’t have to have to fill brown boxes.

How did they get from Washington DC to Texas so quickly?  Our guess is on a fossil fuel burning 737.

Say it slowly, pho-to op-por-tun-i-ty.  Where were you, Ted?

Meanwhile, an estimated 99,763 people in the U.S. have died due to complications from the coronavirus during Biden’s first month in the White House, according to statistics provided by Johns Hopkins University.

When he was campaigning he told us Trump had no plan to combat the virus, but that he (Biden) did.  Maybe that was a bit of hot air unto itself from now Prez 46?

“There’s nothing we can do to change the trajectory of the pandemic in the next several months,” said Biden last month, after being sworn into office.

New Yorkers beg to differ. The U.S. Department of Justice has reportedly launched an investigation into New York Governor Andrew Cuomo’s (mis)handling of the state’s nursing homes and other long-term care facilities during the pandemic.  This can’t be true, can it?   Cuomo wrote a book patting himself on the back about how he handled it so well.

NY City Mayor Bill de Blasio blew in to weigh in.  He thinks that Cuomo is bullying all of his lieutenants into toeing the company line about how well he handled the crisis.  “A lot of people in New York State have received those phone calls,” continued de Blasio. “The bullying is nothing new.   No public servant, no person who’s telling the truth should be treated that way.”

We actually need to eliminate bulls to halt climate change, but we digress.

However, de Blasio might have a solution that the rest of us, including Dr. Fauci, overlooked.

“Of all the things that we’ve learned in this crisis, maybe the most profound is the power of a mask,” said de Blasio during a Thursday press briefing. “What we’re saying today is, time to double up.”

“Two masks are better than one,” the mayor added. “Make it a double.”

Who knew that the solution all along was right under (or over) our nose?

Meanwhile, it will be 70 degrees in Texas today.

Like in politics the hot winds are blowing again.

 

 

 

 

Stocks Stumble

Independent Investment Management designed to protect and grow your wealth.

Friends

 

If you want to understand why the financial markets are difficult to oversee and why Congress has such a difficult time designing legislation to do so, today’s Committee on Financial Services zoom testimony with the GameStop situation players was essential to that education. Simply put, very few of the folks asking questions have a clue as to the workings, much less the purposes of financial markets. But I digress.

 

Stocks slumped mightily in early trading but did recover some of those losses as the trading session wore on. By the close, the Dow Jones Industrial Average was down 119 points to finish the day at 31,493. The S&P 500 was down 17 points to close at 3,913. The Nasdaq Composite Index was down 100 points to close at 13,865. Gold was up $1 to trade at $1,773 per ounce, while oil was down $1.15 to trade at $59.99 per barrel WTI.

 

I know it’s been a difficult week for us here in Houston and in Texas in general. Hopefully you have your power back by now and your water is running. We have all been in this together and after tonight it looks like we will start to thaw out. Stay strong, the week is almost over.

 

Have a nice evening everyone.

Jim

Talent on Loan From God

Yesterday God called back the talent he had loaned out to Rush Limbaugh.

“With talent on loan from God, it’s Rush Limbaugh,” part of how the intro to the daily conservative three-hour show went.  And, went.  For three hours a day, for 52 weeks, and for 32+ years the solo voice behind the golden mike, comfortably ensconced in the EIB(Excellence in Broadcasting) studio, offered lectures in advanced conservative studies as he put it.  Over six hundred stations globally offered his “course.”

His reach and his resilience are unmatched.

Limbaugh is regarded far and wide as the savior of talk show radio regardless of your political preference or party affiliation.

But, he was so much more than that to so many.  The charitable donations of his money, time, or airtime were far too numerous to count and far too generous for even a man of his wealth.

But he was so much more than that.  His passion for his country, his vision for how it was, and how it could and should be, was unwavering.  Guiding principles never go out of style.  You might disagree with the “how” but you’d be a fool to disagree with the “what” and the “why.”

Rush shaped lives.  Rush changed lives.  Rush was bigger than life.

And, yet, he had his missteps and faults.  Prescription drugs and a few wrong turns down the racial rabbit hole were all too well documented.  But, we’d guess God just gave him a fast pass ticket through the pearly gates.  Life is after all a roller coaster, isn’t it?

Fox News commenters, a video of him receiving the Congressional Medal of Honor at President Trump’s State of the Union(SOTU) in February of 2020, and President Trump himself all intersected on the Fair and Balanced network yesterday shortly after his passing.

And, that confluence is an example of where America got it all right and yet all wrong.  Rush would tell us so in comical and wise detail if he had but one more day to use his fine audio pipes.

Bill Hemmer asked Trump to watch along with the audience the SOTU moment when he awarded Rush the medal.

As Trump spoke directly to Rush and his wife seated in the balcony, behind the Prez was the one and only Nancy Pelosi.  She thought so little of the moment that she turned her body and therefore her view well away from Trump and even further away from the about to be anointed Rush.  She rifled through the paper that her SOTU copy was printed on like Amazon’s Alexa’s best shuffle.  So childish, like Trump.

Should anyone turn their back on Muhammed Ali, Bill Clinton, George Clooney, or countless others if they were getting a lifetime achievement award regardless of your beliefs about their beliefs?  No. No.  No.  Respect is earned and should always be recognized.

The Republican congressmen and women roared.  The Democratic ones sat in silence.  Maybe you didn’t like what he stood for, but at the very least you could have stood up for the presentation out of the respect you had (or should have had) for his place in American history.  Shameful.

And then Hemmer made the mistake of asking Trump what Rush told him after the November 3rd election.  Trump immediately launched into saying that Rush thought he won, and Americans thought he won, and Trump himself thought he won.  So childish, like Pelosi.

You take the low road and I’ll take the high road.

Even on his last day Rush would have dissected his own moment, found a way to make sense of it all, pointed us in a better direction, and stayed mostly above the fray.

America lost a great one yesterday, all of America that is.

So, who possibly can take Rush’s place?

The answer is no one even if you have considerable talent on loan from God.

 

 

 

 

 

 

 

 

 

No Doubt, Game On

Ten days into month two of year 21 of century 21 you have two serious doubts.

One is, you doubt that you’ll ever watch a movie on one of the super big screens inside of an American Multi-Cinema (AMC) Theatre again.  Two is, you doubt that you’ll ever watch another hour of the American political theatre again.

AMC theatres are closed.  It’s a virus thing you know.  Political theatres never close.  It feels like a virus thing as well.

AMC has no choice right now.  Politics chose basically to rerun the Trump Impeachment.

It’s a slightly different plot but all of your favorite characters are there.  It’s got a catchy name too- The Second Impeachment of Donald Trump.

They had a choice.  They could choose to let the darkest days of his Presidency stay that way.  Or they could choose to “buy” airtime on all of your favorite channels like MSNBC, CNN, FOX, ABC, CBS, or NBC to shine more light on the darkness.

So while America watched one Super Bowl commercial after another that spoke to unity and coming together, the newly sworn-in Congress decided to further unify us by making their first order of biz in the new year with a new prez a docudrama about the old prez.

How many times can you watch Jason hack someone up in Friday the 13th?

Super Bowl parties can leave you hungover.  American politics can as well.

But you wonder if the sequel has and the prequel had ulterior motives.  Did the prequel have everything to do with getting 45 out of office and 46 in?  Does the sequel have everything to do with the 2022 midterms?

You see to “unify” you can always divide to conquer.  And, forcing a Republican to vote for or against Trump being impeached and/or convicted gets him/her on the record.

Vote to acquit him and the Dems will run against you on that very point.  Vote to convict and you risk alienating the very people that may have put you in office last time or for the first time.  It’s a win/win or a lose/lose depending on the color of your uniform.

We highly doubt that America is watching this anymore closely than they were watching the last five minutes of the Super Bowl.  The outcome at the game’s end was no longer in doubt, only the final score was.  And, breaking news, Trump isn’t going to get convicted either.

Meanwhile, for AMC, it’s at least the two-minute warning.

But in American politics running up the score never ends.

And make no mistake about it, the game never ends either.

 

 

When the Game Stops

The get rich quick crowd gathered on Reddit and was having quite the party.  There was no stopping the game that they were playing with stock in GameStop.

But, like at the stroke of midnight, if you don’t pay the band the music stops.  And, yesterday it got quiet.  Quiet like the inside of GameStop stores during this pandemic.

Just last Thursday shares in GameStop were bought for as high as they were sold-it always takes two to dance.  And the price to get on the floor was $483.  The stock was a much cheaper date in mid-summer at $4.  That’s no typo.  And, yesterday the stock retreated to $84 just four trading days after the $483.  That’s again no typo.

If you’re a retail investor and you wanted to show old school Wall St. that there was a new kid in town, you did.  Briefly.  The short-selling hedge funds got squeezed a bit.

If you wanted to get rich quick, hopefully you bought low and sold high.  Because as it was quickly learned again, value never goes out of style. Stock is always only worth what someone will pay for it.

However, if you bought high and sold low maybe it’s time to get off of Reddit.  If you did so with margin money you might need to see a bankruptcy attorney.  If you did so with your stay at home stimulus money, as many on Reddit bragged, maybe you should go get a job.

But, if you live in Long Beach, CA, and want to get into the grocery business you’re looking in the wrong place.  Yesterday, Kroger announced that it was closing its two stores at the end of this month in response to the mayor’s mandated “hero” pay of minimally $15 an hour for those “workers on the front lines.”

And, we are reminded again, value never goes out of style.  People are always only worth what someone will pay for them.  And jobs are valued for what people will accept them for unless you are the government and want to cause some market disruption.

Government has its eye on this stock market disruption.  They’ll start hearings next week on what we can learn from it.   That should be good for a few laughs.  Do you notice how the government always reacts, it never acts?

Political opposites Rep Alexandria Ocasio Cortez and Senator Ted Cruz were in full agreement that the bad guys in this were the old Wall Streeters who were trying to blame the up and comers for making the market rattle.

In other words, “let the free market decide what a stock is worth.”  Hmm.  That seems like the polar opposite of what the government is trying to do with wages.

Reddit user benaffleks (really) says “This is a big moment.  Hedge fund managers live in the past.  They believe that average retail investors don’t know anything about the market(which may be true) and we’re just gambling our money away.  This was the past.”

One never really knows when the game stops.

But, when it does fair market value is always the winner.

Always.

 

 

Serious Problem Solved

Four days into the Joe Biden presidency and we can already feel what true leadership looks and feels like.  Gone are the petty arguments this same time four years ago that were being played out by the Trump team v. the media over how many people attended his Inauguration Parade.

“We’ve got serious problems, and we need serious people,” said President Andrew Shepard in the movie The American President.  He went on castigating his reelection opponent Bob Rumson, “This is a time for serious people, Bob, and your fifteen minutes are up.”  There.

So some serious people have been weighing in on a serious problem in the last few days.  The serious problem is Covid-19.

It got serious in March of 2020.  By mid-October of 2020, Biden had seen enough.  He tweeted, “We’re eight months into this pandemic and Donald Trump still doesn’t have a plan to get this virus under control.  I do.”

Amongst other jewels on his platform, he promised 100 million vaccinations in his first 100 days in office!  Bold goal aiming for 1 million injections a day don’t you say?

His advisers advised the press that this would be a tall hill to climb but they would do everything they could to make it happen.  How tall?  His senior advisor Cedric Richmond spoke to CNN’s Pamela Brown on air about the Covid vaccine distribution.  “The sad part is the last administration didn’t leave anything.  They didn’t leave a plan.”

The funny or not so funny thing about that is America has been averaging almost that for the last 15 or so days before Biden took his oath under heavy security.  It might be over a million a day if California, ranked dead last in the US in percent of vaccines administered versus shipped, could roll up more sleeves.

Now, this conflicts with another Biden tweet this past week.  @JoeBiden: “There is nothing we can do to change the trajectory of the pandemic in the next several months.”  Say it ain’t so, Joe?  What happened to your plan?

But for some, if you follow the science, apparently the situation is getting better after nearly ten months of stay at home orders.

One believer is Michigan Governor Gretchen Whitmer(D).  She announced that her state would allow restaurants and bars to reopen for indoor service at 25% capacity starting early next week.  She stated, “The science around this is settled, and if we all wear masks and wash our hands while social distancing, we will be in a strong position in a few weeks.  And then we’ll even be able to do more.”  Groundbreaking really.

Did she learn this while attending Biden’s inauguration while not socially distancing?  Sounds like her husband can go clean his boat safely now, too.

Washington DC Mayor Muriel Bowser(D) found the science news refreshing as well.  She announced an identical plan to Whitmer’s on the same day.  The mad scientist, she is.

Both are timely, though both are a full week behind New York(D) Governor Andrew Cuomo’s pronouncement a week ago.  He brilliantly blabbed that New York can’t go on like this any longer.  “We must reopen,” he said.  The plan floated there is to use rapid testing administered at hundreds of government locations. Of course, it is.  Rapid testing has been available for about six months.  Let the government help you.

So, either we have a plan or don’t.  Either we reopen or not.  And, we need more vaccines that we don’t administer.  And then, there is our new leader who said there’s nothing we can do about the trajectory.

No wonder we need the government’s help to solve this.   Surely they’ll follow the science to get us there.  And, just in time we might add.

 

PA, QB’s, KXLPP, and Phil

The state of Pennsylvania has produced more great quarterbacks than any other.   Namath, Unitis, Kelly, Marino, and Montana hail from all over the Keystone State as it is known.

And, as of today, it will have produced yet another.  This one is tasked with leading the most important team of all, the United States.  His name is Joseph Robinette Biden, Jr. and he was born in Scranton, PA way back in 1942. 

If you listen to those who voted for him, Joe’s facing fourth and long given the job done by his predecessor, outgoing QB Donald J. Trump.

But, undaunted, the Scrapper from Scranton has promised much to many.  His game plan is aggressive on day one and even more so in the first 100 days.

One of the first plays he is expected to call is a halt to the Keystone XL Pipeline Project (KXLPP).

If you’re not familiar with the project here’s where the bouncing ball stands after three phases were completed.  The pipeline became well known when a planned fourth phase, Keystone XL, attracted opposition from environmentalists, becoming a symbol of the battle over climate change and fossil fuels. In 2015 Keystone XL was temporarily delayed by then-President Barack Obama. On January 24, 2017, President Donald Trump took action intended to permit the pipeline’s completion. On January 17, 2021, it was announced that President-elect Joe Biden planned to cancel the Keystone XL project during his first days in office.

You’d think that it’s the first of its kind as opposed to likely the safest of its kind.

Opponents cheered.  If you’re in the stands waving pompoms for the Green New Deal, it’s a touchdown.  Proponents jeered.  If you’re a member of one of the four national unions that have nearly 7000 of their teammates working on it, or if you prefer North American oil refined in North America, you booed lustily.

So the Keystone State commander in chief will punt the political football known as the Keystone Project down the field.

And, that’s how it goes these days.  Every four years we spend a lot of time, energy (not the dreaded fossil fuel type), and money undoing what we’ve been doing.  Next up immigration laws, then the dreaded wall, then corporate taxes.  Then?  Well, how about the inheritance tax?  How dare you die and leave your hard-earned money to your family!

It’s hard to win the office and keep the office when 50% of the stands are filled with the opposition to your game plan.  It’s harder still when you make choices like stopping the KXLPP.  The union vote of confidence is waining and you just kicked off.  Fifty percent of 50% of 50% of 50% is, well you understand, not enough after four years in the biggest league of them all.

And, speaking of kicking off, this QB is a mere 78 years old as he takes office, but we digress.  Former Oakland Raider QB George Blanda grew up in Pennsylvania as well.  Blanda retired from pro football in August 1976 as the oldest player to ever play at the age of 48.  Maybe 78 is the new 48?

Blanda played in four different decades.  Biden has been in political offices of one kind or another for at least that many.

With that type of longevity, you must be pretty good at knowing when to run v. when to pass.

Good luck Mr. QB President-elect Biden.

Puxatawny Phil will be watching.  He too is from PA.  Will he see his shadow, take his ball, and go home?  Or does hope eternally spring early this spring?

 

 

Do Not Pass Go

“Other than that Mrs. Lincoln, how was the rest of the play?”

The fallout continues from the storming of the Capitol Building last Thursday.  And it accelerates.  The siege didn’t last very long, but the damage in so many ways was done.

And, the door to reshaping America has blown more wide open than the courtesy shown by the Capitol Police to the not so peaceful of the mostly peaceful protesters.

Cancel culture is evolving like a revolving door that lost power.  Have you ever been in one when it came to a complete stop?  You try not to smash your face against the suddenly stationary glass.  Good luck.

Do you remember the decibel level of the media when an Oregon baker refused to make a cake for a same-sex couple wedding?  That was when the media deemed it so wrong for a private business to selectively not serve a willing paying customer.

Chick-Fil-a still doesn’t open on Sundays, but it takes some damn fine chicken to survive the cancel attempts of the culture of today.

Parler might be in the deep fry, however.   Surely you heard of them?  They are (or were) trying to build a Twitter-like platform for the right.   Amazon, Google, and Apple collectively pulled the virtual rug out from under Parler.

Every vendor for texting and email services and even their lawyers ditched them.  Poof!  It can be awfully dark on Al Gore’s internet in so many ways.

If you have no server, no app, and no search engine result, you have no social media business.  It’s pretty simple.  And, it should be pretty scary to all.

The PGA has had it with Trump too.   They exercised their right to cancel their agreement to play the 2022 PGA Championship at Trump Bedminister, one of his courses.  It’s their right after all.

Major corporations are running, not walking away, from members of Congress who voted against ratifying the electoral college results.  Some have stopped political contributions altogether.  And, altogether that might not be a bad idea.

BBR has long supported a business’s right to refuse service for any reason(s) including religious beliefs but not on prejudices.

Hate Trump all you want.  Hate the right all you want.  Hell, impeach him for a second time if you want.  But, we better start pointing some vitriol and arrows at big tech and now.

The monopolies that they have and the power that they wield should scare us all.   Try working your way down the fourth side of the Monopoly Board.  Pacific, North Carolina, Pennsylvania, Park, and Boardwalk are all very expensive if you land on any one of them.

The war on free speech makes the storming of the Capitol look like a bunch of misguided, misfit amateurs, oogled on by a sore loser, which it was.  And both should scare all.

The right to burn the American flag has long been ruled as guaranteed freedom of expression.

You don’t have to like it.  You just need to respect it.

The same should go for freedom of speech.