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Bruce Enberg's Commentary

Is the GOP Clown Car a Volkswagen? It should be.

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China marked its President's visit to the US by announcing a cap and trade program on the burning of carbon starting in 2017. Now the Right Wing Nut Jobs really can call Obama's Cap and Trade proposal a Commie Plot with some small measure of truth.


China's economic problems are likely to get somewhat worse, but it's hardly the global disaster the short sellers would like you to bet on. Literally bet on, Wall Street has instruments to sell you that will cover you against China's collapse for a small fee. Check out their Brooklyn Bridge penny stocks while you're at it.


It appears China's problem revolves around moving to a consumer driven economy. They have 600 million middle class people to serve and are planning for 400 million more over the next 15 years.


Last Updated on Friday, 25 September 2015 21:36

Bring your own Unicorn

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House Democrats lead by Nancy Pelosi have nixed a key provision of Obama's free trade Bill effectively killing it for the time being. In reality it was the failure of Republicans to pass it as they control the House, so it's probably just their way of embarrassing Obama before doing their Corporate Masters' bidding next week. Republicans seem to keep forgetting that Obama isn't running for a third term, and this will give Democrats a stick to beat job exporting Republicans with before next year's election.


Job creation was a robust 280,000 for May and the March number was revised upward by 32,000 to 116,000. Hourly wages rose by 8 cents to $24.96, and over the past year wages rose 2.3 percent. Considering that the minimum wage should be $22/hour,these positive numbers are rather lackluster and simply reflect the 'success' of Reagan's war on the Middle Class.


Last Updated on Friday, 12 June 2015 21:41

I'll bet you a Yuan to a Baklava

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First Quarter US GDP came in at 0.2%, which is down from 2.2% in the Fourth Quarter. This isn't really a huge drop in US economic growth as you might think at first blush. When GDP is calculated, exports are added and imports are subtracted. The strong USD is making imports 'cheaper' and throttling exports to euro using countries that must pay much higher prices for US goods.


China of course is right there to sell the exact same things as the US at a more favorable exchange rate, as more countries are simply trading in the yuan instead of converting them to USD first. Not that the US is a big exporter anyway, but Europe does use the US as a 'cheap labor' factory floor. Overall the top US exports are gasoline, fuel oil and petrochemicals. Our chief 'manufactured' export to China remains recycled cardboard.


Last Updated on Friday, 01 May 2015 20:40

We still have Liberal content streaming directly to you on the ObamaNet

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If you are streaming this online you are receiving it without paying extra nor are you trying to get around an outright block of it's liberal content. That's because you are using the ObamaNet. A bit of history: the Right Wing crazies made fun of Al Gore for 'inventing the Internet', a claim he never made by the way. Gore did push through the language that made the government funded construction of the  internet entirely available to anyone without prejudice, or as it's commonly known, Net Neutrality, and the right wing corporations hated him for it.


Bush appointees to the FCC found a loophole in the law and simply declared that that Net Neutrality ended when it reached your ISP or Internet Service Provider. That could be a phone company or increasingly a monopoly cable company that provides the last mile of wire between you and the World Wide Web (www). So if you want to stream a movie you don't just pay for high-speed internet, you pay extra to the original source because they will be artificially restricted from providing you with content at a usable speed without paying extra, even though you are already paying for high speed access.


Last Updated on Thursday, 26 February 2015 22:21

It's Only Common Sense

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It's been widely reported that Wall Street bankers won a guarantee of bailouts from Obama's budget. It's true that they did get the 'Push Out Rule' eliminated from the Dodd - Frank Act so that they can continue to use depositors' money to back risky financial instruments. It was junk like derivatives based on collateralized home loans that crashed the banks in 2008. But, this doesn't guarantee the banks themselves will be bailed out, only that the FDIC will pay out the insurance on deposit accounts up to the legal limit.


There were six other provisions attached to the House Bill that would have gutted Dodd - Frank, but thanks to Senator Elizabeth Warren those were all killed. So if the Wall Street banks crash again the FDIC will be able to take a meat ax to them the way they do to smaller banks. That won't keep crooked bankers from sucking billions from them between now and then, but there is such a thing as 'Claw Back' to recover ill gotten gains when this happens. It just depends on who is in charge at the time, President Warren for example could be such a person.


Last Updated on Tuesday, 23 December 2014 21:41

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