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I want to thank the President for the belly laughs provided in tonight’s State of the Union speech. It’s good to know that when his political career is finished, he can always support Michelle and the girls by opening up for Chris Rock or Lewis C K.
Still getting over the stitch in my side from this quote:
I’m a Democrat. But I believe what Republican Abraham Lincoln believed: That Government should do for people only what they cannot do better by themselves, and no more.
This claim, mind you, came after he had just laid out a bunch of additional spending promises for (yet more) “new employment training,” extending tuition assistance, low cost refinancing for underwater mortgages, and of course, and even more subsidization of the multiple train wreck crony-chocked “clean energy” industry.
There was even more, of course. Remember this gutbuster?
Let’s never forget: Millions of Americans who work hard and play by the rules every day deserve a Government and a financial system that do the same. It’s time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts. An America built to last insists on responsibility from everybody.
Again, the President said this after bragging about allegedly saving the auto industry by stealing it from bondholders and handing it to the UAW. He said this whole promising the aforementioned mortgage bailouts and further subsidies of everything from windmills to egregious college tuitions.
A famous commentator today said to watch for the President bringing up “blueprints” for the future. He mentioned that this was the mark of the Utopian… the “grand plan” of the beloved leader that if only followed, would lead us to prosperity. Sure enough, the President used the term… twice.
In short, the speech was filled with the same Newspeak nonsense, class warfare, and promises to increase burdens on the private sector that have been the stock of the Obama Economic Takeover since the days when he was riding herd over both houses of Congress with Madame Pelosi and Harry Reid.
Admittedly the guy can deliver a speech as well as Billy “Smoove” Clinton. He should take this comedy gold one the road in 2013.
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Meanwhile, back in the more serious climes of Superbowl host city Indianapolis, I was greatly disheartened after the GOP Response speech of “My Main Man Mitch” Daniels.
No, not because it was a poor response. No. In fact it may have been one of the most powerful — and most appropriate — responses to a Statist’s “blueprint” I’ve seen since the Reagan years.
No, my loss of heart was due to Mitch himself. He was, from the very start of Obama’s Administration, my number one choice for the 45th President of the U.S. He’s been nothing short of magnificent as an intelligent and powerful Mayor of Indianapolis, and later, Governor of Indiana. He’s got a big brain and an outstanding temperament. Unfortunately, it seems he loves his crazy wife more than he feels an obligation to the country. That’s disappointing, to say the least.
Have a look at this incredible response, and reflect with me on what could have been:
[youtube:http://www.youtube.com/watch?v=OSAmkDUi4PQ 450 300]_________________________
CRAAPL crushed after the bell tonight, so I expect we should get more and more of the more tomorrow. What’s more important to me is that the dollar continues to struggle and silver looks to be holding up in turn. It remains to be seen what the POTUS’s speech does to the markets tomorrow, but I think I can state that there was nothing especially market moving in the entire catalogue. The dollar will continue to call the tune.
God Save the U.S.
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Unreal how much he lied tonight
Did you see Daniels’ response? Can you see why I’ve been such a fan for so long?
Killing me that he is not running. Just killing me.
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He said fair share 5 times
I guess it’s worth crying over spilled milk.
Instead of taking up the rate for the wealthy why not bring the rate down for everybody? Why not flatten the tax and broaden the base? It’s galling that %40 or so aren’t paying a dime in taxes yet they have the nerve to get behind this man in his class warfare rhetoric. Fair share my ass. This government gets enough money. It needs to BUDGET.
No, the Dems run on an income inequality they create. There are just enough loopholes for the rich to hang themselves every election cycle. And somehow the left makes the bottom 40% feel like they are getting screwed when they are in fact being pulled behind the largesse of the wealthy. It’s brilliant.
Daniels was unreal. the man named the problem. the old and their entitlements. didn’t know there was a fuck you boomers politician on earth. maybe Ron Paul?
Who is down thumbing this comment? For goodness sakes, at least post a cogent reply if you disagree. Knee jerk negativity is so cowardly.
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poof!!! the magic is gone. doubt it matters tho. the 0 has a great base. being retarded makes memory an afterthought.
The public drinks its mind-numbing fluoride and views fours hours of Tavestock Institute brainwash programming each day.
Obama will surely be elected once more.
Yep.
concession speech? you can almost hear Hillary Monster stomping down the hall.
Mr Barack Blackbush has his data mining minions, mining what’s on people minds and what they want to hear. Then he crafts it into a good speech.
Politician often say one thing and do another, but our Dear Leader has taken it to extremes. His words are totally unrelated to his actions, a play for the public. He has this thing down to a science.
I wish actions would spexk louder than words, but do know better…
P.S. Gingrich trying to pose as an Washington outsider comes in as a close second on the political-comedy-meter
Agreud.
I have never seen a SOTU with so many internal contradictions. I mean, as you said, it’s one thing to “say” one thing and “do” another, but in this speech, Obama actually “says” one thing, and then later, “says” another!
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_____
I just couldn’t make myself watch it. Everyone knew it was a campaign speech. You know it wouldn’t be genuine. He would spend an hour bashing Congress and the wealthy.
Matter of fact, it’s rather pathetic that the best this country can do is offer up Obama, Romney, Santorum, Gingrich and Paul as leaders. I am royally pissed that Daniels, Ryan, Rubio, West among others are not running.
This country is screwed. Enough people want government in their lives, enjoy the government cheese, that Obama will most likely get re-elected. The hate the millionaires and “do-nothing” Congress rhetoric is enough to get him four more years.
i agree,didnt watch it for more than 3 minutes, got bored an nodded off. didnt vote for this guy,so dont give two shits what comes out of his mouf……. jakes’ heading should have been,”thanks for nothing mr. president”.
I listened to about a third of it driving home, and read the rest. He’s too hard to take in long stretches.
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A view from the Limey side:
http://www.economist.com/blogs/freeexchange/2012/01/trade
Interesting. Amidst all the economic populism, I missed the nationalistic bent of some of his exhortations.
I can’t say I’m surprised, however, as he’s only got a few cards left to play after cheap populism, the race card and now class warfare have all fallen flat.
Why not nationalize that socialism? It’s fooled people before.
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It is time for productive and profitable members of society to be placed in peoples re-education camps. They should be provided with little red books full of the great leaders sayings. Free education, health care, guberment shelter and food for all!
it seems we care more about sopa, than the country..all the talking and few r listening.
Well SOPA is important, at least in that it is an attempt at censorship on the greatest knowledge sharing device since the Gutenberg Press.
_____________
Jake,
The ANV buy signal, AKA SLW share price crossing ANV share price, fired off yesterday. And what do you know, ANV up 3.3% while SLW is flat this morning. If followed, this strategy would have lead to some nice gains in 2011 and this is confirmation the trend is still alive in 2012.
That’s an interesting set up! You should ask Woody to backtest it for you.
ANV is just volatile as sheeit. It can drive you crazy.
_____
Bond market is making nice moves to the upside before the Bernank’s speech –
Instrument Direction 32nds Price
Ginnie Mae 3.5% – 30 year Up 4 at 104.281
Fannie Mae 3.5% – 30 year Up 6 at 102.859
Fannie Mae 3.0% – 15 year Up 5 at 103.468
Fannie Mae 3.0% – 7 year Up 2 at 101.031
Ten Year Treasury Note Up 11 at 99.781
30-year Treasury Bond Up 10 at 99.843
Instrument Direction 32nds Price
Ginnie Mae 3.5% – 30 year Up 17 at 104.671
Fannie Mae 3.5% – 30 year Up 15 at 103.14
Fannie Mae 3.0% – 15 year Up 12 at 103.687
Fannie Mae 3.0% – 7 year Up 10 at 101.281
Ten Year Treasury Note Up 26 at 100.25
30-year Treasury Bond Up 21 at 100.203
This is some funny schite…
Don’t we NEED a food stamp President?
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JG,massive reversal in EXK etc. sell into, hold, add?
i’m gonna ride the hell out of it, exk could see 13 again easily
Bullish engulfer on the daily and the weekly looks like it has room to roll.
Definitely holding.
_______
jake,we need to thank uncle ben. the shinny stuff is enfuego man
Yeah, didn’t he say something about zirp til 2014?
LOL. Nuts.
______
He trimmed yesterday … forgot about Uncle Ben (???)
> As I mentioned, I will be trimming tomorrow for sure, and raising cash. I will probably get up to 60-75%, with only some core holdings untouched.
I only got rid of NUGT And AGQ, which brought my exposure down quite a bit, but kept me at about 40% cash.
______
U.S. Silver’s application to apply for listing on the NYSX has been accepted! I’ve been watching (and own) this company for a long time. If you can get in before they list on the NYSX you can make some serious money, as I’m sure everyone here knows.
Check them out, Jake. (and everyone)
http://www.4-traders.com/U-S-SILVER-CORP-237048/news/U-S-SILVER-CORP-U-S-Silver-Update-on-U-S-Stock-Exchange-Listing-Application-and-Share-Consolidation-13981869/
NYSE, sorry. I’m sick as a dog and in school, so not really with it.
Ticker?
__
USSIF
U.S. Silver’s website says they are the second largest primary silver producer in the U.S. I’m pretty pumped, as I have been waiting for them to apply for quite awhile.
http://www.us-silver.com/
If the 5 to 1 consolidation happens, it will only help, as it tightens up the share structure, right?
Lessens the float, which can make for a more volatile environment.
__________
What a piece of SHIT!
Look, one day you might just learn that we don’t really give a rat’s ass about your views on millionaires pretending to play football, nor on your political rantings! Jesus Christ! You at one time had the world’s hardest (not necessarily longest) woody for Herman Cain, for god’s sake!
Geez man! GROW UP!!!! Maybe the Prez didn’t move the fucking market… but the fucking thing is moving! Get with the program!
Learn that investing discipline will always trump your puerile convictions and your fondest ideological crutches!
My god, if politicos ever made the slightest particle of difference! Read history, you idiot! We have endured all colors and stripes of politicians in this great land. We prosper and thrive in spite of them, not because of them.
Get back to work…. here or at some other meaningful employment. You have become just about useless here.
God, am I glad I’m recently long AG, EXK, NUGT, EGO, DGP, GDX, SLW, SIL TGB and PAL
And yur wasting you God-given brain, talents and abilities, on these mind frying time wasting blabbing!
On a lighter note, I’m up $70K today… how you doin’??????
Up $420,000 today, give or take, nihilist garbagio.
Enjoy your solipsistic universe, and of course, your banning.
__________
oh, you can count on it, sir!
and congrats, BTW
just a fucking minute, bullshitter!
wait! I am up $70K and you’re up $420K and I somehow are so big a threat to you that i justify banning?????
The joke is in your pants… sorry…. no NO nuggets or NUGTs in there!
I’m not banning you asshat, Fly is.
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Ah! So i see. Censorship is alive and well in the land of the first democracy.
Weep beloved country.
the asshat fits better on you folks! Have a good day!
up 4.2% and that $420K
you really are a lightweight… no flyweight, JakeGilt! (look up “gilt”… it suits you)
“… We have endured all colors and stripes of politicians in this great land….”
Not really buddy and especially not so when talking about the president. They are all, always, vetted by the powers that be and whittled down to a form that doesn’t allow for much differentiation.
http://mises.org/daily/5036
no problem there, my friend… exactly my point!
Now, go do a little homework… good boy… these assholes will pat your little head
not me
Why not just fuck off instead, Jim? I’ve plenty of anklebiters as it is, and some of them actually have a decent handle on basic rhetoric. Self absorbed morons, however, we’ve little additional need of.
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Ah! Indeed a reply worthy of Andrew Jackson: a distant Scots/Irish relative of mine, and a fierce defender of basic liberties, including but not limited to free speech!
Obviously not a friend of poseurs such as yourself!
I stand by my previous statements, sir. Not “anklebiting” as you arrogantly assume: it is you, sir, who are the self-absorbed one in this dialogue. We both have failings; yours however, are those of character.
Good luck! I will be doing the fucking, as you suggest, although not to myself.
You may well do your wanking over the NYGiants as is your prerogative. There are worse ways to waste time.
I have said it before, sir, and will say it again: you do have somewhat of a brain and a morsel of wit.
Put it to use, and stop this silly sports/politico masturbation.
Yes, you lackeys laugh at my $40K in BAC puts. They lack both patience and discipline, as do you. (with due respect)
As has been said often in the past, Good luck, and good night.
SUPERBOWL TICKETS IN HAND!
Teahouse? You gonna be there?
________
I don’t make those treks anymore … only go over the bridge to go to Florida … LOL
“I’ve asked this Congress to grant me the authority to consolidate the federal bureaucracy” – SOTU
The media would be crawling all over this if anyone other than a leftist was in office. This should make your skin crawl.
“The executive branch also needs to change. Too often, it’s inefficient, outdated and remote. That’s why I’ve asked this Congress to grant me the authority to consolidate the federal bureaucracy…”
The executive branch does not need to change. You want change, amend the Constitution. We do not need a tyrant in office with more authority.
People need to wake the eff up.
Next he’ll be eschewing the title of “President” for the more efficient role of “Chancellor.”
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Hey Jake. What percentage of your portfolio do you deem core? 20%? 30%? 40%? I don’t hold core positions and I’ve found it affects my trading by over reacting to whipsaws.
Never less than 25%, but mostly I will hold 40-50% in the core positions like SLW, RGLD, ANV, GDX, GDXJ, etc.
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Thanks Jake.
Jake,
I can see the point of holding a core. But I guess, it seemed wrong somehow holding through the D-wave. However, you did with some trimming here and there. So here’s my question.
Why did you believe that was prudent?
As always, thanks.
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