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This is a precursur of things to come
After Mao drove the Nationalists off the Mainland in 1949, the cry went up among U.S. conservatives, "Who lost China?"
Now Washington might well worry about who lost Taiwan as a major investor in U.S. agency securities as the Republic of China has openly questioned their credit quality — even after the federal government has committed hundreds of billions of dollars to bail out mortgage giants Fannie Mae and Freddie Mac.
Beyond that, Washington might well worry that other nations also no longer view its agencies — and now, by extension, the very credit of the United States of America — beyond…
27Oct2008 | The Real Deal | Comments Off | ContinuedWhen Gridlock is Good: Why a Contentious Election and Legislative Bottlenecks Pack a Profit Punch for Investors
For all their talk about change, the ultimate irony in today’s markets is that Washington is so afflicted with legislative gridlock that the “Beltway Boys†couldn’t “change†the channel on their flat-screen televisions.
And yet, as frustrating as legislative gridlock is for many voters (myself included), the data suggests that politicians’ inability to act might actually be good for the markets.
The bottom line: Legislative gridlock translates into higher profits for investors.
We realize that this runs contrary to the conventional wisdom on the subject but, as we point out so frequently, sacred cows frequently make the best burgers.
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POLITICAL STUPIDITY
A few weeks ago we witnessed a political act of such unimaginable stupidity, it is hard to not choke at the mention of it.
A cursory review of the details is worth a minute of your time. This compliments of The Oil & Gas Journal…
“WASHINGTON, DC, May 20 – The US House passed, by a vote of 324 to 84, a bill that would create a new oil antitrust task force within the Department of Justice. Supporters of HR 6074, which also would give DOJ authority to sue foreign oil cartels for violating US antitrust laws, included 103 Republicans, according to…
18Jun2008 | Daily Reckoning | Comments Off | Continued
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