Obama/Biden

Obama was surprising strong on the issue of fighting and decimating the Islamic terrorists, not just in running down bin Laden, but in the unprecedented number of  drone assassinations — we became the assassination nation, par excellence, under this Democrat president.

But his divisive and poorly conceived (the young refused to pay for the health insurance of the old) Obamacare program was a fiasco from the get-go and the wrong thing to do in the face of the economic collapse with its high unemployment, which really called for a large infrastructure program to get the country back to work.  Consequently, the economic recovery during his entire 2-terms in office was anemic at best, with consistently low GDP year after year.  The economy eventually did recovery in spite of, not because of, Obama.

As a left-wing ideologue, Obama was supremely unsuited to guide the country’s economy back to health, with his openly hostile attitude toward capitalism, profit-oriented corporations as well as investors.  Biden will be more of the same, should he be elected, just when the country needs someone who is pro-business.  Yet we are faced with the same problems that happened in 2008/9 — how to get a large number of unemployed people back to work quickly, and how to make a large number of businesses profitable again, particularly small businesses shuttered and hit so hard by this coronavirus.

Ironically, the same solution, a large infrastructure program, that presented itself in 2008/9 but was never pursued, is the solution to our economic woes today.  But will it be ignored again?

Max Lunacy

 

 

 

Bitcoin Breakout?

I think Bitcoin may make one of its huge up moves soon. Could be like what happened in 2017. Central banks around the world are diluting (as in trashing) their fiat currencies, while Bitcoin just had its 4 year halving, i.e., there are fewer Bitcoins now than before, so Bitcoins are becoming rarer just as debased fiat currencies are increasing exponentially.

Bitcoin has been in a huge consolidation pattern for some time now. The general view on such long consolidations is that when the breakout occurs, it will be very big, whether to the downside or the upside. Given the situation with central banks, I’m betting upside. Of course I have no crystal ball, and all of this is mere conjecture.  But if Bitcoin breaks to the upside, I’m all over it. The move in 2017 was parabolic, a rocket that went straight up — in just 60 days.  No sellers, all buyers, to the moon — that was 2017.  Will it happen again?

If it breaks above 12,000, we are off and running.

Short Strangle Strategies

 

Max Lunacy

Democrat mayors who hate their police departments.  That’s about as crazy as it can get.  What you see in New York City and many other cities with Democrat mayors.  Half a million residents have left NYC, and the exodus is just beginning.

Democrat mayors should write a manual on how to ruin a city.  Beware if your city elects one.

Tale of Two Cities