November 9: Daily Contrarian Reads

The Morning After #1: Brick Wall Of Debt Ahead

Whoever wins the 2016 presidential election tomorrow night could be in for a rough 4 years in the White House courtesy of the gigantic debt burden amassed by Obama over the previous 8 years.  While an accommodative monetary policy, including seemingly unlimited treasury buying by the Fed and foreign governments, has suppressed the budget impact of Obama’s ballooning federal debt balance, as Ed Yardeni told Bloomberg, “one shudders to think what would happen if rates actually ever did go back to normal….We’ve really got ourselves into a pickle here,” said Edward Yardeni, president of Yardeni Research Inc. in New York, who’s been following the bond market since the 1970s. “All these years we’ve been kicking the can down the road, and suddenly we’re seeing a brick wall.”

The Morning After#2:  Why The New President Will Be A Lame Duck From Day One

That’s because the main takeaway of the piece, “A Lame Duck President in 2017?,” is that the incoming chief executive will have to focus on managing a collection of expensive programs that were put in place years ago rather than implementing new and original ideas. Existing programs call for considerable mandatory spending and are designed in such a way that they swallow up most or all of the revenue increases the government sees from economic growth.

The Morning After #3: Even If Trump Looses—-The People Win

Herewith, a dissent. Whatever happens Tuesday, Trump has made history and has forever changed American politics. Though a novice in politics, he captured the Party of Lincoln with the largest turnout of primary voters ever, and he has inflicted wounds on the nation’s ruling class from which it may not soon recover. Bush I and II, Mitt Romney, the neocons and the GOP commentariat all denounced Trump as morally and temperamentally unfit. Yet, seven of eight Republicans are voting for Trump, and he drew the largest and most enthusiastic crowds of any GOP nominee. Not only did he rout the Republican elites, he ash-canned their agenda and repudiated the wars into which they plunged the country. Trump did not create the forces that propelled his candidacy. But he recognized them, tapped into them, and unleashed a gusher of nationalism and populism that will not soon dissipate…….Whatever happens Tuesday, there is no going back now.

The Morning After #4: ‘We the People’ Against Tyranny—— Seven Principles for Free Government

This steady slide towards tyranny, meted out by militarized local and federal police and legalistic bureaucrats, has been carried forward by each successive president over the past fifty years regardless of their political affiliation. Big government has grown bigger and the rights of the citizenry have grown smaller. However, there are certain principles—principles that every American should know—which undergird the American system of government and form the basis for the freedoms our forefathers fought and died for. The following seven principles are a good starting point for understanding what free government is really all about.

The Morning After #5: Ron Paul Says The Fight For Peace And Against The War Party Will Be More Crucial Than Ever

I have said throughout this presidential campaign that it doesn’t matter much which candidate wins. Both Donald Trump and Hillary Clinton are authoritarians and neither can be expected to roll back the leviathan state that destroys our civil liberties at home while destroying our economy and security with endless wars overseas…..The day after the election is our time to really focus our efforts on making the case for a peaceful foreign policy and the prosperity it will bring …..Last month a fascinating poll was conducted by the Center for the National Interest and the Charles Koch Institute. A broad ranging 1,000 Americans were asked a series of questions about US foreign policy and the 15 year “war on terror.” You might think that after a decade and a half, trillions of dollars, and thousands of lives lost, Americans might take a more positive view of this massive effort to “rid the world of evildoers,” as then-president George W. Bush promised. But the poll found that only 14 percent of Americans believe US foreign policy has made them more safe! More than 50 percent of those polled said the next US president should use less force overseas, and 80 percent said the president must get authorization from Congress before taking the country to war.

The Morning After #6: A Post-Election Relief Rally—Not So Much!

Anecdotal evidence suggests to us that a post election rally has become fairly widely expected. Even a number of well-known bears have adopted a cautious wait-and-see stance and have lightened up on bets against the stock market. Admittedly our perception may be skewed, and we cannot back this impression  with statistics; it is just something we have noticed en passant. We don’t think the situation is really all that clear – even though the stock market’s seasonally strong period has just begun as well. It seems to us that stock market risk remains quite high over coming weeks and months, whether considered from a technical/ positioning or fundamental perspective.

The Morning After #7: Portrait Of The Debt Slaves Who Can’t Shop America To Recovery

This is the portrait of the American debt slave who is trying to keep the economy hobbling along singlehandedly by buying stuff they cannot afford and may not need, with money they don’t have but need to pay back later when they can afford it even less. But that won’t ever be a problem – until it is.

The Morning After #8: Regardless of Who Wins——The Corrupt Clown Comey Is A Goner

New York Times bestselling author Ed Klein has just published his fourth book about the Clintons since 2005, Guilty as Sin. Klein has told how Bill Clinton enjoyed foot rubs, massages and romps in his presidential library with female interns and has described new details about Hillary’s medical crises. Guilty as Sin is available in bookstores and on order from Amazon. After persistent prodding by senior adviser Valerie Jarrett to remove James Comey from his job as director of the FBI, President Obama has agreed the time has come to fire America’s top cop.

The Morning After #9: If Trump Wins, Obama Will Pardon Hillary

Judge Andrew Napolitano called out FBI Director James Comey on the way he has handled Hillary Clinton‘s case, and many of you will agree with his breakdown. Napolitano said that Comey was wrong to publicly say no reasonable prosecutor would bring charges against Clinton, as that is out of his jurisdiction to make that claim. Napolitano also gave solid reasons why it was wrong for Comey to have made that announcement last week referring to finding 650K that ‘could’ have the impact of the former investigation. But Napolitano also gave a huge shocker boldly stating that a Trump win would cause Obama to pardon Clinton.

The Morning After #10: Clueless Alan Greenspan—–Speak No More!

Alan Greenspan should have been banished from all mainstream outlets a very long time ago. No single person has done more intangible harm than he, and yet his opinion is still “valued” by all the places that should prize fact and observation above deference to credentials and highly manipulated reputation. His face should never appear anywhere except the most insidious cautionary tales of what not to do.