Tuesday, November 2, 2010

Election Day 2010: 36 Reasons to Vote Democrat!


I'll be linking to important quotes, news and opinions today.

----FIRST, in the spirit of bi-partisanship, I offer you Thirty-six Reasons to Vote Democrat! (A few choice reasons: 30.If you think it helps you if your boss gets hit with a huge tax bill -- vote Democrat. 31.If Chris Matthews gives you a tingle up your leg -- instead of an upset stomach - then vote Democrat. 32.If you think insurance companies can lower rates, pay for every small medical item -- and every preexisting condition -- and every illegal alien -- and stay in business -- vote Democrat. 33.If you agree with the French union protesters upset about having to delay retirement for two years to age 62 -- vote Democrat. 34.If you think a rally sponsored by Arianna Huffington, the SEIU, and the DNC is a non-political rally -- vote Democrat. 35.If you think electric cars are the answer because they don't use energy -- vote Democrat. 36.If you don't want Nancy Pelosi to retire -- vote Democrat.)

----SECOND, Roger Simon at Pajamas Media corrects Tina Brown of The Daily Beast and her assessment of what President Obama should have done/should do to to get back in touch with his people. And it's all about policy, Tina.

----THIRD, Republican win the death knell for Keynesian economic policies and a new day for the dollar? From Ned Schmidt at Kitco:

......with political drama unfolding in Washington on 3 November the Federal Reserve is not likely to unleash a massive QE II. They may announce a modest program, but not one that will destroy the dollar. Betting on QE II and a collapsing U.S. dollar is not now wise.

As the dollar in the above chart is moving through the parabolic curve, a new question arises. How high will the U.S. dollar go? When a parabolic formation corrects, that correction is usually dramatic and for greater than any expect. Also, given the propensity of today’s market traders to push markets to an extreme, we can expect the dollar to be pushed up more than it should.

Risk now is not how low will U.S. dollar fall, but how high will it rise. Bernanke and his Keynesian hooligans have created another asset price distortion. This Gold bubble may go the way of all predecessor bubbles, into pain and agony.

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