December 19, 2016
We are in the end-of-year “window dressing” period where pension funds and hedge funds throw money into the market, which makes the market go up, which then makes the hedge fund look good. Got it??!!! So today we see the markets continue upward…..the so-called Christmas Rally.
There are numerous potential buys “under observation” for inclusion in the Core Portfolio. But with -4 (yes, minus four) weather we are turning a little sluggish. While we wait and watch, below are some articles for your amusement.
Trump is driving subscriptions:
But in the weeks since the election, magazines like The New Yorker, The Atlantic and Vanity Fair; newspapers including The New York Times, The Wall Street Journal, The Los Angeles Times and The Washington Post; and nonprofits like NPR and ProPublica have been reporting big boosts in subscription rates or donations.
Democrats who are having trouble getting out of the first stage of grief — denial — aren’t being helped by the fact that, now that all the votes are counted, Hillary Clinton’s lead in the popular vote has topped 2.8 million, giving her a 48% share of the vote compared with Trumps 46%.
To those unschooled in how the United States selects presidents, this seems totally unfair. But look more closely at the numbers and you see that Clinton’s advantage all but disappears.
As we noted in this space earlier, while Clinton’s overall margin looks large and impressive, it is due to Clinton’s huge margin of victory in one state — California — where she got a whopping 4.3 million more votes than Trump.
California is the only state, in fact, where Clinton’s margin of victory was bigger than President Obama’s in 2012 — 61.5% vs. Obama’s 60%.
But California is the exception that proves the true genius of the Electoral College — which was designed to prevent regional candidates from dominating national elections.
In recent years, California has been turning into what amounts to a one-party state. Between 2008 and 2016, the number of Californian’s who registered as Democrats climbed by 1.1 million, while the number of registered Republicans dropped by almost 400,000.
Yesterday we noted Michelle Obama’s appearance on Oprah in which she hinted that Trump’s election was the end of “hope” for America, saying “now we’re feeling what not having hope feels like.”
The comments from Michelle have received a lot of backlash over the past two days but perhaps no one has crushed her new “hopelessness” narrative better than Judge Jeanine Pirro of Fox News. Pirro’s opening monologue last night was full of epic one-liners slamming the First Lady’s comments….below are a couple of favorite quotes but the full video is definitely worth a listen.
“This from a woman, who in 2008, at 44 years old, said for the first time in her life she was proud of her country when her husband was running for president. And now, 8 years later, you’re out of “hope,” Michelle?”
“An outrage is when your husband struts up to the microphone at a national prayer breakfast and tells Christians to get off their high horses because Christians are afraid of Muslim terrorists cutting their heads off.”
“Like the 13 hours those heroes were on a rooftop in Benghazi, your all powerful husband never bothered to explain to us where he was and what he was doing that night. All we know is that the only power that he was ready to unleash was Air Force One to fly to Las Vegas for a fundraiser the next morning so that you guys could live the life another four years in the White House.”
“Michelle, you may not realize it, but Americans rejected you and everything you stand for. They know what hope is. Hope is when people, 30,000 at a time, stand in line, in the cold, with their children, hoping to get the glimpse of a man they think can change the course of their lives from the downward spiral that you and “Mr. Hope & Change” have put them on.”
“I’ll tell you what “Hope & Change” is, “Hope & Change” is when people show up 20,000 strong, after an election, desperate to see the man who actually brought back jobs, almost a 1,000, when your husband said it was impossible to bring them back at Carrier.”