Look, I don’t think some of you are appreciating just how serious this Wisconsin situation could become.
Democrats are intentionally saying “fuck you” to the system, refusing to participate because they know they’re not going to get their way. On some abstract level, that is very much a similar action to anarchy or revolution.
Meanwhile, public unions are seeing the writing on the wall. If Wisconsin manages to get these initiatives passed, it will become a template for a national restructuring of the relationship between organized labor and government.
They are going to fight this tooth and nail; and the support will (and already has) come from across the reaches of the country.
The problem could also escalate and become far more serious when you understand that if unions strike nationwide, in support of the Wisconsin labor, then all branches of government could be at risk of shutting down.
If enough of them do, then you can also expect the lowest income brackets, now being utterly denied all the basic services they depend on, as opposed to merely cut backs in a few of them, to become most distempered.
Meanwhile, the counter protestors from the private sector have yet to materialize on scene.
That is when tensions might snap. Private sector employees, especially Teaparty groups, who already view the unions as an uncompromising threat, have been looking for a fight. And in Wisconsin, there are far more Teaparty activists than labor unions. I would not be surprised to see fights break out, as impatience degrades into anger.
Incidentally, I think this is going to be the end of the unions. Even on CNN, that liberal bastion, polling shows that more than half the population views unions unfavorably. The unions do not have support, and if they succeed in forcing their way, then it could actually be worse for them as the national temper flares.
However, the unions get that this is the end of the line and are not going down without a fight. They will risk everything on maintaining the legal authority to strike without repercussions. Failure to do so could see as much as a century before working conditions stress people enough to offer the opportunity to re-unionize.
The point is, this is like an unstoppable force meeting and immovable object. If the markets are going to retrace, this could be the kindling.
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AWK is on a streak. Up another 2% today.
Man, between you and Bleier IBC is starting to take on a Zero Hedge-like quality!
It’s tough taking away entitlements that have been granted for so long – I mean, they can’t even get rid of Daylight Savings Time even though any benefit from that is long gone and all it does is screw up parents with small children. I’ve got an uncle who is a retired farmer and leases out his land…all my life I’ve heard how tough he has it, even though he is sitting back collecting his share of the ethenol subsidies for corn growing. As a self-employed person who for many years owned and managed a small business, my outlook was: nobody’s going to help Ol’ Jack with subsidies if MY business goes under, let alone pensions and benefits. Unlike most of my Republican friends, I was for Obamacare, as, for self-employed or small business individuals who pay out the nose for sub-standard healthcare with huge deductibles, I figured it couldn’t be any worse than the status quo. I would imagine most of the folks who work in the public or govt. sectors were the tea-partiers saying “What health insurance problem??”; those whom have been given benefits on a platter without seeing the cost and who run to the doctor at the first sign of a hangnail, then stay out from work the rest of the day on bedrest.
OK, enough bellyachin’….bought a little AEC yesterday, thank you very much. AWK is starting to trade like a hedge fund knows there is going to be a water shortage this year.
Well, I don’t know if the Zero-Hedge comment was a compliment or not, but…
Your comment on subsidized jobs rings home. I’ve had to put up with the folks who live around me, mostly being strong UAW supporters, talking about how awesome the union was and how it has provided for a lifestyle that the people who are in it could otherwise not have afforded.
Getting those people to see that that very statement is the heart of the problem…that paying someone more money than their services are worth isn’t possible for very long…it’s a huge effort and it’s been draining away from the country’s spirit for some time now.
A few good signs though; I know union members who have finally started to admit that they are no longer triumphing for the working man, and are actually just being unreasonable. The first step is admitting you have a problem, after all.
Bare in mind that I’m still all long here. I have a contingency plan and it is to go from zero liabilities to buying a dip on credit. So, I can stay balls-to-the-walls long even through a correction. Something to think about, when making your own choices and considering how much cash you should have on hand.
Ha, the ZH comment twer but a jape, good sir. I give Mrs. Ol’ Jack my conspiracy ZH type commentary every night after a glass of wine has loosened my tongue and drive her crazy.
I, too, am positioned all long. I just try to avoid the hedge fund stocks that go parabolic, as I am not good or fast enough in blow in and out in time. Unless you are an HFT guy, I think the best way to make a buck in this market is pick a theme that makes sense and stick with it until it doesn’t, whether it be water or REIT, and just ride out the waves, although the waves have been awfully smooth lately.
As to myself, I have no problem with the parabolic hedge fund stocks…so long as I own them first.
The teachers are refusing to take part in any of the pain being felt by taxpayers. Tax revenues are down because people are hurting out there. State gov’ts are cutting children’s healthcare programs to pay teachers full salaries and retirement benefits. Something wrong here.
And flashing pictures of “The Children” across the television the whole time, yeah…
If I had to give up a dollar every time “THE CHILDREN” were invoked, I’d be shit-ass broke.
let me just say mr.cain.i know alot of politico’s, and the best kept secret, comes from adolf hitler. hitler’s thesis was this,”i just need your “children”, “i dont need you to get what i want”. in other words,EVERY, AND I MEAN EVERY POLITICIAN, THAT USES THE WORD CHILDREN in any of their diatribes to the public is a complete and utter rouse.they use the word children to make you think,”oh shit,this must be something”. its bullshit,and has always been bullshit.whenever i hear any son of a bitch politician use the word chillens,that mother fucker is playing you, through your kids.thats how these asstards play. god i cant wait.i have a list so long of mother fuckers whose blood will be on the street when the time arrives. it’ll be better than bbq and sex all rolled up into…well you get the idea…..besides, jefferson said this country should go through a revolution every 20 years…………..long overdue dontcha think
Well whatever you do, wash your hands first.
Look, personally, I don’t think this is going to turn into a domestic revolution. That’s a longshot. But, if enough people start protesting and counter protesting, a lot of governments and corporations will be incapable of functioning.
It would be very hard for the market to keep rallying with shutdowns happening nation wide. Even one or two states would be enough to throw sand in the gears, so to speak.
DONT GET ME STARTED……………..the fucking writting has been on the shit house walls for years…….fuck public workers…period! just wait till rahm emanual gets his mayoral job handed to him on a silver platter………..i got an idea..why dont we just freeze all of the fucking politicians’ campagne accounts…especially the ones that run unopposed for like 20 yrs,those bastards and bitches have millions of dollars stashed away that they get to keep after they are gone.i say the federal government should seize that money and give it all to the people.after all these fucktards have a job,they have benny’s and more than we will ever have,so why shouldnt they give up that money….ya know..for the “GREATER GOOD”. fuck teachers,fuck politicians, fuck the thieving firemen, and ESPECIALLY FUCK 90% OF ALL COPS CAUSE THEY ARE CORRUPT AS SHIT. if you think there wont be rioting in the streets within 6 months……..you will find a place to hide real quick……………state governments,couldnt find there way out of a paper bag,even if they were given a razor knife………. as a 28 yrs teamster in the second half of my life……..we saw the writng on the shithouse wall,and the first scribe was jimmy carter…………….biggest fucking POS this country ever had the pleasure in getting fucked by………one could only hope he dies from chocking on a peanut…………when the time comes…….there will be blood on american streets…..haymarket riot anyone
(laughter) tell us how you really feel.
Kudlow has chimed in; I like his points, although I’m not sure where he got his statistics:
I became possessed with a desire to buy insurance stocks on friday so powerful that I bought puts on iwm et al instead…