I am tired of hearing GHW Bush lost his second term because of his “no
new taxes” pledge followed by raising taxes when he was President. He lost
because Ross Perot took 19% of the popular vote from the Republicans. Perot ran on a balanced budget and anti-NAFTA
platform. Bush could have adopted some
of Perot’s message by taking a tougher stand on spending and the budget deficit
before the election. If he had, he would have been a two-term President. He was
a better President than politician. People forget that Reagan had raised taxes
too after Reagan realized that his tax cuts were too severe.
“Historian Jon Meacham has told mourners at a Washington
memorial service that Bush's credo was, ‘Tell the truth, don't blame people, be
strong, do your best, try hard, forgive, stay the course.’" Story at…
BOND YIELD INVERSION (TheWeek)
“The reason everyone got excited was that the difference
between 5-year and 2-year Treasuries and between 5-year and 3-year
Treasuries both
went negative on Monday. It was the first time
either had inverted since 2007. And if you look at the behavior of
both spreads over time, you'll probably notice why
this made everyone nervous.”
Commentary and chart from…
COMPUTER DRIVEN SELL-OFF (CNBC)
“CNBC’s Jim Cramer blames trading algorithms for the
stock market’s nosedive on Tuesday. Algorithms programmed to sell securities on
the same triggers were behind the massive decline, he says… “When the
percentages are against you and the algorithms are in charge, ... nobody wants
to try to be a hero and bet against them.”” Story at…
