Completely in line with my long standing predictions, we now how some schools putting God back on the agenda. By "some schools" I mean all of them in South Dakota. Yes, both of their schools will be required by law to display this motto ; )
Kidding aside, the school officials don't want to do this, but they can tell which way the wind is blowing. They have no morals, no ethics whatsoever except that to get along (and keep their jobs) they have to go along with whatever the herd is trending now. And the herd trends conservative. You will know I am 100% correct if that bitch Ilhan Omar gets indicted on felonies like she deserves to be.
Opps, I mean alleged bitch. I wouldn't want to miss an opportunity to be politically correct!
Liberals, listen. Your reign is over. Even if Trump loses to a dem in 2020 it will very unlikely be one of the many communist/socialist fools who are parading around pandering to Mexicans with laborious speeches en Espanol. The dem debates were embarrassing. If a dem wins I suspect it will be a political moderate.
Friday, July 26, 2019
Ilhan Omar is in serious trouble.
Tom Fitton over at Judicial Watch seems to be taking a leadership role in working with other talented investigative reporters who have now piled up a huge list of felonies against the socialist fool Omar. Her middle name seems to be "Fraud".
Well you have to know that half of congress has likely done worse crimes than Omar. After all, during liberal times laws are for losers and sheeple, not for the elite. That's all going to change as the fake, debt driven prosperity begins to collapse under the weight of the debt which paid for all that temporary prosperity. And when it goes down, I guarantee you that many people who thought none of this crap mattered to them; that it was all "politics in DC" which has nought to do with me are going to find out just what complete ignorant fools they themselves have been for thinking like that.
Or not thinking as it were.
If you are not just a little bit worried because you have made zero preparations, I suggest its time to wake up and get busy.
Well you have to know that half of congress has likely done worse crimes than Omar. After all, during liberal times laws are for losers and sheeple, not for the elite. That's all going to change as the fake, debt driven prosperity begins to collapse under the weight of the debt which paid for all that temporary prosperity. And when it goes down, I guarantee you that many people who thought none of this crap mattered to them; that it was all "politics in DC" which has nought to do with me are going to find out just what complete ignorant fools they themselves have been for thinking like that.
Or not thinking as it were.
If you are not just a little bit worried because you have made zero preparations, I suggest its time to wake up and get busy.
Thursday, July 18, 2019
Neil Woodford "suspends redemptions" for Woodford Equity Income Fund.
It's amazing easy to steal from ignorant fools who place too much trust with their stored labor in the hands of others. All you have to do is promise them something for nothing and ask them to ignore the fine print and to pay no attention to the man behind the curtain. And of course when the leveraged debt Ponzi goes bad, you simply create a heartfelt-sounding mea culpa explaining why they had to fuck you over and how you should actually be relieved that those who have lost your savings for you are now on the job ensuring you cannot take what little remains out of their corrupt fund.
Here, watch Neil Woodford do it in 3 minutes.
Here's the transcript as spoken by Woodford:
"As difficult a decision as this is and clearly frustrating for you, our investors,we felt that this was necessary to protect your interests.The situation that we confronted was that we were seeing a loss of outflow in the portfolio. As a result of that increased level of redemptions, what we were seeing was the stock market, in a way, anticipating the fact that we would have to be sellers of stocks to meet those redemptions. And we felt the prices that we would be able to achieve in order to meet those redemptions would be disadvantageous for our investors.
So fund suspension means that there is no inflow or outflow into the Woodford Equity Income Fund. But fundamentally the strategy remains the same.
Investors money is preserved in the assets in which we've invested. And the portfolio continues to work for our investors. So the suspension provides us with the time to execute the strategy that we've communicated to our investors.
And just to remind you, that strategy is about reducing the fund's exposure to illiquid and unquoteds, down to zero. That process is underway and is continuing, but was made obviously much more difficult by the outflow that we were witnessing. So the suspension of dealing in the funds enables, us gives us the time and space, if you like, to execute that strategy, to reduce our exposure, and redeploy that capital into more liquid stocks in the FTSE 350, but primarily in the FTSE 100, that fit in with my core strategy, but which are more liquid and more conventional, if you like.
So it's important to stress that the suspension applies only to the Woodford Equity Income Fund. The focus fund is open as normal to buying and selling. It's a different portfolio. It doesn't have any exposure to illiquid or unquoted securities, and consequently isn't exposed to the same issues that the Woodford Equity Income Fund is. And it's positioned, I believe, for the economic and market environment that we'd like to see over the medium and long term.
We will be providing regular updates on the fund. We will price the fund daily. So investors will have a clear idea of what's happening in the fund. So again, I'm extremely sorry that we've had to take this decision. We will keep our investors informed. We will use this time to reposition the fund in the way that we said. We understand our investors frustration. All I can say in response to that, of course, is that this decision was motivated by your interests, our investors. When it is appropriate, we will open the fund so you can buy or sell as normal."
Here's the Economati translation into English:
"Dear Sucker, you gave money to strangers so that we could gamble it. What else did you think we meant by "equity income fund"? You hoped for your money to "work for you", to self multiply without you adding any labor. Yeah, I know, this is what Wall St. tells us to do as the responsible thing. But you should know better. The only way new value arrives without doing work is through theft or gambling. There is no such thing as "investing". Investing is gambling, moron. When you gamble, sometimes you lose. This time it was your turn.
So by now it is clear we went way out on a limb with "kant miss" leverage on risky "assets" while failing to respect that markets are cyclic and that after every boom comes the bust. Yeah, we are really sorry about that. And truth be told, we kind of knew it was going to happen. But what did you want us to do, warn you of impending collapse? You would have taken your money back and then our fund management fees would have collapsed. That would be the end of our income and of course we value our current and future income more than your past earnings so of course we said nothing until the trap door opened.
But its not all our fault. Evil people have been watching us and they want to take advantage of our weakness during this period of "high redemptions". Thus, in order to foil those evil bastards we will stop you from taking your money out. By doing this they will eventually tire of attacking our illiquid (worthless) assets. Prices will then bob back up like a cork in the ocean and then you can get out. So we are doing this all for you. We are sorry that you might be angry over this, having lost confidence in our Ponzi scheme and all, but really, just sit there and watch the value of our "fund" continue to collapse because there is nothing you can legally do about it. Did you read the fine print? We actually have the legal right to halt money in and out of our Ponzi.
Now don't worry, this is temporary (cough cough). We will beat the bad people who are trying to make you sell low and then when prices come up you can sell if you want. And by the way, our stupidity and greed was limited to just this one fund. The others are golden. Trust us!
I say again for the cheap seats: these markets are very stretched and in need of massive and rapid selling. Too many people think they are all going to gain something for nothing. This will not end well.
Here, watch Neil Woodford do it in 3 minutes.
Here's the transcript as spoken by Woodford:
"As difficult a decision as this is and clearly frustrating for you, our investors,we felt that this was necessary to protect your interests.The situation that we confronted was that we were seeing a loss of outflow in the portfolio. As a result of that increased level of redemptions, what we were seeing was the stock market, in a way, anticipating the fact that we would have to be sellers of stocks to meet those redemptions. And we felt the prices that we would be able to achieve in order to meet those redemptions would be disadvantageous for our investors.
So fund suspension means that there is no inflow or outflow into the Woodford Equity Income Fund. But fundamentally the strategy remains the same.
Investors money is preserved in the assets in which we've invested. And the portfolio continues to work for our investors. So the suspension provides us with the time to execute the strategy that we've communicated to our investors.
And just to remind you, that strategy is about reducing the fund's exposure to illiquid and unquoteds, down to zero. That process is underway and is continuing, but was made obviously much more difficult by the outflow that we were witnessing. So the suspension of dealing in the funds enables, us gives us the time and space, if you like, to execute that strategy, to reduce our exposure, and redeploy that capital into more liquid stocks in the FTSE 350, but primarily in the FTSE 100, that fit in with my core strategy, but which are more liquid and more conventional, if you like.
So it's important to stress that the suspension applies only to the Woodford Equity Income Fund. The focus fund is open as normal to buying and selling. It's a different portfolio. It doesn't have any exposure to illiquid or unquoted securities, and consequently isn't exposed to the same issues that the Woodford Equity Income Fund is. And it's positioned, I believe, for the economic and market environment that we'd like to see over the medium and long term.
We will be providing regular updates on the fund. We will price the fund daily. So investors will have a clear idea of what's happening in the fund. So again, I'm extremely sorry that we've had to take this decision. We will keep our investors informed. We will use this time to reposition the fund in the way that we said. We understand our investors frustration. All I can say in response to that, of course, is that this decision was motivated by your interests, our investors. When it is appropriate, we will open the fund so you can buy or sell as normal."
Here's the Economati translation into English:
"Dear Sucker, you gave money to strangers so that we could gamble it. What else did you think we meant by "equity income fund"? You hoped for your money to "work for you", to self multiply without you adding any labor. Yeah, I know, this is what Wall St. tells us to do as the responsible thing. But you should know better. The only way new value arrives without doing work is through theft or gambling. There is no such thing as "investing". Investing is gambling, moron. When you gamble, sometimes you lose. This time it was your turn.
So by now it is clear we went way out on a limb with "kant miss" leverage on risky "assets" while failing to respect that markets are cyclic and that after every boom comes the bust. Yeah, we are really sorry about that. And truth be told, we kind of knew it was going to happen. But what did you want us to do, warn you of impending collapse? You would have taken your money back and then our fund management fees would have collapsed. That would be the end of our income and of course we value our current and future income more than your past earnings so of course we said nothing until the trap door opened.
But its not all our fault. Evil people have been watching us and they want to take advantage of our weakness during this period of "high redemptions". Thus, in order to foil those evil bastards we will stop you from taking your money out. By doing this they will eventually tire of attacking our illiquid (worthless) assets. Prices will then bob back up like a cork in the ocean and then you can get out. So we are doing this all for you. We are sorry that you might be angry over this, having lost confidence in our Ponzi scheme and all, but really, just sit there and watch the value of our "fund" continue to collapse because there is nothing you can legally do about it. Did you read the fine print? We actually have the legal right to halt money in and out of our Ponzi.
Now don't worry, this is temporary (cough cough). We will beat the bad people who are trying to make you sell low and then when prices come up you can sell if you want. And by the way, our stupidity and greed was limited to just this one fund. The others are golden. Trust us!
I say again for the cheap seats: these markets are very stretched and in need of massive and rapid selling. Too many people think they are all going to gain something for nothing. This will not end well.
Wednesday, July 10, 2019
Godspeed Ross Perot.
By now most people have already read it, but H. Ross Perot, one of the very few captains of industry that I had much respect for, has passed on. Here was a man that the liberal wave mocked for his squeaky voice and big ears because there wasn't much else to fault him for. He was a visionary leader who founded Electronic Data Systems Corp. He was a man who understood global economics and pretty much the only politician back in the 1990s who focused on the business of America rather than personalities and politics. He was a man who said was he was going to do and then did what he said.
I'll never forget how Perot threw in the kitchen sink at rescuing two of his EDS employees who were caught up in the corrupt politics of the Iranian revolution. Instead of turning his back on them, Perot organized a military style rescue effort. However, when they arrived on scene the situation had changed and it turned into more of a CIA style extraction of his people. Bottom line is that he got it done because he would not give up on his people.
Rest in peace Mr. Perot. The world has lost a true leader in your passing.
I'll never forget how Perot threw in the kitchen sink at rescuing two of his EDS employees who were caught up in the corrupt politics of the Iranian revolution. Instead of turning his back on them, Perot organized a military style rescue effort. However, when they arrived on scene the situation had changed and it turned into more of a CIA style extraction of his people. Bottom line is that he got it done because he would not give up on his people.
Rest in peace Mr. Perot. The world has lost a true leader in your passing.
Thursday, July 4, 2019
Taxpayer first...
As predicted many times in these pages, the days of big government behaving like organized crime are rapidly coming to an end as peak liberalism fades in the rear view. A government big enough to give people anything they want is big enough to take everything that those who are not their buddies have. And so it has been happening for decades: every law enforcement agency from the CIA, FBI and DOJ right down to podunk cops have been fucking the public over at any chance they got. Why? Because most of the herd was fat dumb and happy and if injustice to a few members was the price of keeping that then so be it. Small price to pay.
But now many if not most of the herd is in trouble. Huge personal debt, school debt, skyrocketing medical costs and no pension almost dictate a shitty life for most of the herd. At least in relative terms to what Americans have grown accustomed to. And so now the herd is no longer quietly grazing. When the train passes by they walk up to see who is inside and what they are doing. Politicians see this. They also look at global news and they see things like Hongkongese storming their parliament building. It's one thing when a band of unarmed Chinese do this. But if it ever gets to this same point in the USA, people will die. And by people, I mean elite. There will be hangings in the street. In fact, if that line is crossed then there is no turning back and thus there MUST be hangings in the street or those who decided to go Rambo will be held accountable. Once they cross that line they have nothing to lose and everything to gain by hanging their political enemies in the streets.
I'm not calling for it to happen nor do I want it to. I'm not even predicting it will happen. No, like I have been saying all along, once the liberal shit is behind us the cops will become more like Andy of Mayberry, a real joy to have around and a helpful influence in the community. The FBI will purge itself. Government will clean up its act. Not because they want to mind you but because they will see the writing on the wall. You cannot fuck with armed people forever because sooner or later there will be a revolt and so they must take another path; they must begin caring about the people again.
Trump's latest move down this path is called Taxpayer first. You can read about it here but it is essentially an exact declaration of what I expected to happen. Government crime gets out of control, the people who are suddenly awake and no longer sleepy sheeple begin to demand change, and so politicians realize that they better damned well change before they see the battle of Kruger on their front lawn.
All of this government corruption built up as a process but the collapse of it will be 30% faster, just like the stock market has stair steps up and elevator down. Same principle.
Tuesday, July 2, 2019
How many actually think there will be a trade deal with China?
Watching Trump is like watching the old Jackie Chan flick, Drunken Master. Almost literally. His 30 second venture into N. Korea was just another bob and weave game designed to keep everyone off guard and wondering what zany thing he will come up with next. But I think China has seen this movie before. In fact, I think they made it before. So I wonder just how many people actually believe that a trade deal with China is near. I suspect something will happen that makes a trade deal impossible. Maybe it's already happening. The people of Hong Kong are rioting daily and heavily over Chinese puppeting of their government and over the ever increasing attempts to control a people who damned well do not want to be controlled. All Trump would have to do to sour China for good would be to acknowledge the HK people and perhaps even offer them protection from Chinese invasion.
Hongkongese are not Chinese thinking. They are the business arm of China, the money arm of China and until very recently the shipping arm of China. Hong Kong people think of themselves as free. Chinese people know they are not free. I was once in Shanghai giving a class to the FAE team of a prior company I once worked for. The internet was ridiculous with the great firewall of China and all. One of the guys in the class was older so when we were alone I ventured to ask him why the people put up with that kind of censorship bullshit. He looked at me with tired if not sad eyes but did not respond. I of course changed the subject quickly. But it left a lasting impression on me how he didn't even feel comfortable talking about it in private with a foreigner.
China has to save face on multiple fronts. The communist dictatorship has to show the people that emperor/God-King Xi is second to none now that he has revised the freaking constitution so that he can rule for life (absolutely treasonous to the Chinese people). China cannot accept bad behavior from Hong Kong people. It has to do something. Also, listen to Jamie JP Morgan Dimon chiming in that Trump should walk away if he doesn't get a good deal with China. Check out the look on Xi's face. It's like "if I have to do this dog and pony make nice show again I'm going to choke on my own vomit".I don't know about you, but the thing I think is most telling is that China took their freaking pandas back home from the San Diego zoo. That token loan of friendship was not rescinded easily nor will it be restored any time soon. Chinese leadership watch Drunken Master flicks, they don't star in them. They aren't wishy washy on again off again like Trump.
