No, No, No. Elizabeth Warren Is Not a Socialist

[El OchoCinco]

Andrew Yang seems to be the most sensible after listening to him shoot down the wealth tax and other areas of simply targeting the wealthy. he was talking about a Value Added Tax but still murky on how it will work and what proceeds are for. Problem is Yang is not going to get the press and publicity needed to appear in the debates are get enough time to chat while Biden, Warren, and Bernie hog all the attention.

Democrats need to stop demonizing the rich with taxes.

We all know there are numerous tax loopholes and abuses where tax revenues are not being properly reported or accounted for. If they take the approach to simply close the loopholes, enforce the laws on the books, and perhaps reduce some of the superfluous deductions, you can increase tax revenues without specifically targeting any wealth class or blaming anyone.

Wall street does not need to be taxed, they need to be better regulated in certain areas. The billions of tax expenses bailing out banks and business is money thrown out the window. You fuck up, you fail. It is akin to health care spending more on preventative care and upkeep rather than simply spending 3x the amount of actually treating things that could have been avoided.

However instead of cutting school lunches and similar programs with trickle down benefits, cut foreign aid, audit military spending, and stop cutting taxes over and over without touching spending. Who runs a company, business or government like that....

With all the pork floating around D.C. it is no wonder a real fiscally intelligent spending bill cannot be achieved.

 

[maximumpossiblesuffering]

Pissing money away on fatheads.. hmmm...

I sometimes suspect that studying options makes stupid (basically unobservant) people far worse. How a simple futures trade like I described, an elementary measured move is not studied and just used once dismayed me. There is money to be taken with simple trades learned well, at all times.

Here is a juicy morsel.

https://www.cnbc.com/2019/10/02/a-k...ether-the-economic-slowdown-is-spreading.html

Your post started strong then devolved into a link for CNBC. Thank you for the strong part.

Your response was what I expected it would be. “Pissing money away...” You are making a judgement that I could not better utilize your money than you can. That I don’t have a greater need for it than you do. Is that fair?

“... on fatheads.”. Name calling just because I asked you to share some of your money with myself and the ET community? My request for money seemed to cause an emotional response in you. Why it that?

The real reason why I asked you for money, and I know you are smart enough to have considered this, is to highlight the point that people who earn their own money are entitled to decide how it should be used, not the Government through proposed 70% tax rates, for example.

There can be an economic benefit for us all when the better managers of money are allowed to manage most of the money. Crony Capitalism and other anti-competitive practices should be punished severely in order for our Capitalistic system not to develop bottlenecks and social resentment that ultimately could bring the whole system down. Lack of ethics in a Capitalistic system breeds Socialists.

As far as options trading is concerned, before I first started studying them in earnest, I felt the same way as you. However, I am beginning to realize some strategies provide elegant solutions to certain longer term trading ideas. The appears great potential for maximizing certain trading metrics such as time utilization, defining risk, probability of profit, risk to reward ratio, etc. It is true I have paid a heavy cost in opportunity profits in learning option strategies, but I believe it will be worth the effort to have another strategy in my trading arsenal. Meanwhile, day trading of two hours per day can work for me in theory, but in practice I still need to work on my discipline. Not being a fathead would go a long way in accomplishing this, I suspect.

I would not put too high hopes on a recession in the US because the Fed is being very responsive early on to adverse economic reports, equities, and the commodity markets. Continued spending in infrastructure projects and people tapping their home equity through mortgage underwriting practices that are near par to pre-financial crisis levels should keep things going. If trade uncertainty is ever reduced, the US economy could go into boom times given the large amount of cash on the sidelines.

 

[maximumpossiblesuffering]

Warren believes in the markets but with a cop on the beat.

Did you make anything off the bounce from the ES 200 SMA (daily chart) today @maximumpossiblesuffering ? Or are you blue-balls ?

I expect as you thought October 1st was Wednesday you are out of the game entirely now?

Have been trading less due to continued discipline problems in trading and in other areas of my life. No major losses, but I did lose money in September. I will post an update to my journal at some point.

 

[Bugenhagen]

Your post started strong then devolved into a link for CNBC. Thank you for the strong part.

Your response was what I expected it would be. “Pissing money away...” You are making a judgement that I could not better utilize your money than you can. That I don’t have a greater need for it than you do. Is that fair?

“... on fatheads.”. Name calling just because I asked you to share some of your money with myself and the ET community? My request for money seemed to cause an emotional response in you. Why it that?

The real reason why I asked you for money, and I know you are smart enough to have considered this, is to highlight the point that people who earn their own money are entitled to decide how it should be used, not the Government through proposed 70% tax rates, for example.

There can be an economic benefit for us all when the better managers of money are allowed to manage most of the money. Crony Capitalism and other anti-competitive practices should be punished severely in order for our Capitalistic system not to develop bottlenecks and social resentment that ultimately could bring the whole system down. Lack of ethics in a Capitalistic system breeds Socialists.

As far as options trading is concerned, before I first started studying them in earnest, I felt the same way as you. However, I am beginning to realize some strategies provide elegant solutions to certain longer term trading ideas. The appears great potential for maximizing certain trading metrics such as time utilization, defining risk, probability of profit, risk to reward ratio, etc. It is true I have paid a heavy cost in opportunity profits in learning option strategies, but I believe it will be worth the effort to have another strategy in my trading arsenal. Meanwhile, day trading of two hours per day can work for me in theory, but in practice I still need to work on my discipline. Not being a fathead would go a long way in accomplishing this, I suspect.

I would not put too high hopes on a recession in the US because the Fed is being very responsive early on to adverse economic reports, equities, and the commodity markets. Continued spending in infrastructure projects and people tapping their home equity through mortgage underwriting practices that are near par to pre-financial crisis levels should keep things going. If trade uncertainty is ever reduced, the US economy could go into boom times given the large amount of cash on the sidelines.

Way to prove my point about fatheads.

The CNBC link was discussing the ISM Non-Manufacturing PMI release today which was genuinely easy money with a MM on top. Remember the other report this week? ANYWAY..

But you keep doing the macro economics. The rest of us are eating.

 

[maximumpossiblesuffering]

Way to prove my point about fatheads.

The CNBC link was discussing the ISM Non-Manufacturing PMI release today which was genuinely easy money with a MM on top. Remember the other report this week? ANYWAY..

But you keep doing the macro economics. The rest of us are eating.

The point of me mentioning “macro economics” here was to address the potential political repercussions that a recession might bring.

As you probably know from my journal posts, I have incorrectly based short term trading ideas on events with potential longer term implications.

Appreciate your feedback.

Burgenhagen? Almost sounds like the name of a location in Israel. Now about those young Israeli women...