Sounds like a case of the “Detroits.” Actually many cases of the Detroits.
The government is too big in these states. There are too many state employees. These employees want unrealistic pensions. (What’s a pension?) They lived like there was no tomorrow for decades and now “tomorrow” is here.
And we ain’t – I repeat are not, will not, ain’t – a’gonna bail you out.
People seem confused by this rally. Really a rally on top of a Fed induced (to a very large extent) bull market extending back many years. How can this be, some wonder? Trump is bad news. How could the market tick up, solidly and definitively, in the wake of Trump’s election?
My feeling, and it is only this, and it is sure to contradicted by many a CNBC Squawk Box special guest, is that investors are just relieved that Obama is gone and that America dodged the Hillary bullet.
This article has been removed by The Huffington Post or Huff Post (now that they are trying to cut out Ariana Huffington). And indeed it seems some of the writers at the site are huffing something. Check this out.
It’s insanity. It is completely divorced from reality. So this is what the rank and file are being fed? No wonder yesterday happened. These people honestly think they are part of some “resistance” instead of doing the bidding of folks like the Clintons,
“A drop dead sprint from the day he’s born straight into his maker’s arms.” – The Black Keys
Some think Obamacare was designed to implode so that it would create the impetus for socialized, taxpayer funded medicine. Some say that Obamacare is just a flat out disaster that was constructed horribly by people who thought they were smarter than they actually are. I think it’s a mix of both but more parts just plain old idiotic statism than any sort of conspiracy.
He was one of the crony “kings” until yesterday. Once the toast of the Obama White House, (he headed the “Jobs Council”) the shareholders of General Electric gave him the ole’ heave ho earlier than expected.
Of course Immelt leaves the scene an extremely wealthy man and much of this wealth comes courtesy of US taxpayers.
Surprise. Surprise. They don’t want to tell us after all.
We are shocked!
Jeff Immelt is gone from the head of GE.
Immelt rode the “green rush” for what it was worth and “successfully” engineered a bailout of his company before that. Even still, GE’s stock has underperformed for years. (Though it has done better since jettisoning Genworth.)
Times (and markets) change and so do CEOs.
Political correctness feeds off of ignorance. The postmodern Marxish religion of grievance only survives when the light of reality is snuffed out. Why do you think “social justice warriors” are so concerned with “safe spaces”? These people fear anyone who challenges their worldview. They know that outside of their concocted social justice bubble their arguments not only fall flat but are likely to be obliterated. However if they can scare everyone into toeing their line, or at least into not challenging it,
Monsanto is arguably the world’s most crony company.
As we’ve said here many times we have plenty of problems with Mr. Trump. But Trump’s critique of the old media, legacy media, whatever, is pretty spot on. The media helped Obama get elected, protected Obama during his presidency, (A pretty good case could have been made for Obama’s impeachment.) and went whole hog in for Hillary Clinton. Of course The New York Times and CNN are pissed. THEY LOST.
Nothing says “sound leader” more than conducting a press conference in a track suit. Just ask Al Sharpton.