PRE MARKET AND THOUGHTS ON OUR SOCIALISM!

AMZN gapping down $32. It was up $30, finished down $6. Now down to breakout point. $1000 number important to hold.

BIDU accelerating numbers…gapping out of base this morning.

Big NASDAQ reversal yesterday…and it was not the good kind. The DOW saved the day ramping into the close…but after scanning, you can tell the boys are now on defense with the beta. Lots of negative bars in TECH and all that crap. But it may just be working off some of the move off the July 7th low. We will know more as cards come out of the deck.

Lots of jello moving on plate today. NASDAQ futures down decently…S&P less so. Got some real ugly gaps past couple of days like:

BWLD,TWTR, WHR, FFIV, SAVE, SBUX, ELLI, MSTR and a bunch others.

And just letting you know…in the past two days:

The DOW is up 183 points but the whole move was BOEING (BA)!

While the DOW was up 183, the S&P was down 2 points. The NASDAQ was down 30 points. Just saying.

And finally, the Republicons did not fail us. We have been telling you for a long time that THIS leadership was terrible. They have been a party to $20 trillion of debt, massive deficits, an increase in the socialist state and all that crap. The issue is they are not as bad as the socialist party but they are still bad. They had a chance to do something about “the state” and wimped out. Keep in mind, last night’s vote was nothing more than a fake vote. Even if it was passed, it would have been based on the guarantee that it would never become law….

How about some stats?

Federal spending this year $4.1 trillion. In 2000, it was $1.7 trillion. Every one of those dimes being sucked out of the real economy. Where the hell is the money going?

Medicaid now serves over 70 million people. It started out as a program for the indigent. We are already running massive deficits because of this type of program but who cares. And when things are free, they get used more and abused more..all on the backs of the taxpayer. Much of healthcare is already government/bureaucracy run. Why do you think it is getting worse? You have been Grubered.

Even though we sent them $3.3 trillion (a record) last year, they still ran a $600 billion deficit. And deficits are slated to go much higher in the years ahead. Keep in mind, without the rigging and manipulating of rates by the central banks (s), these deficits would be much much much higher. But they are doing no one favors as deficits go higher because the numbskulls think free money (low rates) should allow them to go more into debt. Yes…they are insane.

$435 BILLION…$435 BILLION…Did I tell you $435 billion of taxpayer dollars will go just to pay the interest on the debt these clowns have created? That’s $435 billion into a black hole. Doing nothing for no one. Bye bye. Again, would be much higher if not for the moronic central bank(s). Think about that. Yet they complain they don’t have enough money and even this new administration floating some tax hikes as well as keeping the Obamacare tax hikes.

As I watched last night, at 130 am, my only thought was that many of those Senators on the floor have been there forever, thus they are miserable failures. Miserable failures as stewards of our tax dollars. Miserable failures yet they are still deciding and voting on our future. If you go to the doctor with a broken right arm and the doctor puts a cast on your left arm, will you go back to that doctor?

But don’t worry. It’s just debt and deficits. The markets been going higher. Everything is fine until the market says otherwise.

 

 

2 replies
  1. Mike Frederick says:

    A big reason for how necessary it is that term limits need to happen. No one in their 80’s should be allowed to be in Congress. We have age limits on the youth we should have them on the senior side.

  2. Phil says:

    Hi Gary great info.
    My belief that the root of the problem of President Trump getting things is simply this: The Democratics AND The Republicans in DC, are very very unhappy that an outsider of their exclusive club got elected. I believe that a majority of the republicans and of course the dems would have preferred Hillary, to Donald. Along with both parties, throw in the biased media, and I don’t see much happening in Washington. The good old boys (on both sides of the isle), will, and are, teaching him a lesson.

    Ps I like your logic.
    Phil Raczka

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