Tag Archives: gun control

Dr. Paul Craig Roberts: Why Dallas Happened

I find it mind-blowing that Obama and Loretta Lynch are dead silent on the issue of the police inflicting out of control violence on African Americans.   Obama takes the coward’s way out and blames the issue lack of gun control.  Loretta Lynch, the head law enforcer in the country, has nothing to say.  If I were African American, I would feel betrayed by angry and angry at Obama and Lynch.  It’s a god damned disgrace.

I wanted to post Dr. Paul Craig Roberts’ commentary on the Dallas situation.  His analysis and presentation of truthseeking issues is second to none – Why Dallas Happened:

Is the Dallas police shooting a false flag affair in behalf of gun control? Is it the result of a war veteran suffering from post traumatic stress disorder? Is the shooting the beginning of retribution for thousands of wanton police murders of US citizens in the 21st century? Or is there some other explanation?

We will never know. The perpetrator is dead. The authorities will tell us whatever suits the purposes of authority.

We could say that the police have brought this on themselves by their undisciplined and violent behavior toward the public. On the other hand, we can hold the police chiefs, the police unions, the mayors and city councils, the governors, prosecutors, and the Justice (sic) Department responsible for failure to hold accountable those cops who murder and commit gratuitous violence against the public.

When police execute someone, the excuse is always something like this: “He reached under his shirt to his waistband. I thought he had a gun. I didn’t want to leave my children fatherless and my wife a widow.” The murdered victim’s wife and children, if any, are of no consequence.

Conservatives, especially those taught to be fearful of crime, have scant objection to police murders. Their view is always: “The police wouldn’t have shot him without cause.” The same bias in favor of the police is why conservative jurors always convict.

The liberals tend to interpret the shootings as racism, so they want to combat racism.

The real problem is that public authorities do not protect the public from gratuitous violence. Therefore, hatred and disrespect for the police are growing. Routine murders by police–several each day, almost all of which go unpunished–are generating the kind of anger that causes people to snap and to reply to violence with violence.

If the criminal justice system applied also to the police, the police would think twice before they wantonly murder.

Being a police officer is not supposed to be risk free. A police officer should be concerned about the public, not merely his own family. We cannot accept gratuitous police violence on the grounds that the officer’s behavior is dictated by his concerns for his own family. If an officer cannot accept the risks of being a police officer, he should find a different occupation.

Police violence is out of control because mayors, prosecutors, and governors are failing the public by refusing to put a halt to it. According to conservatives, punishment deters crime, but they do not apply this to the police.

Police violence is also out of control because of the revolution in police training which teaches police to protect themselves and to subdue the suspect regardless of cost. A number of former police officers have written to me that the reason they gave up the occupation is that today police are being trained to be killers like soldiers.

If a former police officer or someone knowledgeable about this training would describe it and its history, where it originated and why, I will post it on the website

If The Fed Has Lost Control, Will The Government Impose More Control?

I stand by my prediction that 2016 is going to be a horrible year for the world in general. I am a great fan of both David Stockman and Paul Craig Roberts and if you conflate their views the world is going to be a disaster economically, financially and geopolitically.  – John Embry (email conversation this past weekend)

I find it fascinating that, sometime between the close of trading on December 31st and the start of trading in 2016, the JP Morgan’s equity Einsteins all of a sudden decided that the stock market “might” be overvalued.  Per Zerohedge, JPM released a strategy report suggesting that the new robo-trading trading them in 2016 might be “selling any rallies.”

But what changed?   The stock market has been overvalued for several years.  It was still overvalued from a strict fundamental standpoint when the S&P 500 bottomed out at 666.79 in early 2009.   It has been insanely overvalued for the better part of the last three years.  No one could see that until Sunday night?  All of a sudden JP Morgan has decided that “equities are not attractively priced anymore?”

I suggested in my blog post this past weekend that Thursday’s Fed funds event might be indicative that the Fed is losing control over the markets – Is The Fed Losing Control?  I’m wondering if what happened on Thursday with Fed funds rate contained more predictive power than any of us imagined possible…

I opened up the latest issue of my Short Seller’s Journal with this comment:

The current stock bubble is now about 30% bigger than the previous two bubble tops – 2000, 2007. One difference between now and the last two bubble peaks is that the underlying fundamentals are significantly worse now. Just one example is the amount of Government debt outstanding. At the 2000/2007 peaks, Treasury debt as a percent of GDP was 55% and 57%, respectively. Currently, Treasury debt as a percent of GDP is 109%. Keep in mind that the Government also now guarantees FNM/FRE debt, which would add another $7 billion, roughly, to the $18.8 trillion in Treasury debt.

The point here is that the “gravitational pull” from the underlying fundamentals will eventually override the Fed/Government’s ability to keep the stock market propped up.

My feature stock of the week is down 4% today vs. 2% on the S&P 500.  My “Quick Hit” idea is down 6%.

Why all of a sudden JP Morgan (and others) have decided that the stock market is overvalued today but it wasn’t last Thursday is beyond me.  The excesses and insanity that culminated in the brief financial system collapse in 2008 are even bigger and more pervasive now.

Quietly AAPL stock is now down 23% from its all-time high in 2015.  Doesn’t this mean that AAPL is in a “bear market?”  If AAPL were continuing to hit new all-time highs the financial media would be in our face with the virtues of the iPhone and stoking anticipation for AAPL’s next product flop introduction.

I don’t know if today’s early morning action in the stock market will be another “false flag” gap down followed up by a massive rally in the last hour of trading.  We’ve seen this “movie” several times overUntitled the last year, as the S&P 500 forms what appears to be a massive rollover – click image to enlarge.

What I find horrifying – and what is getting lost in the shuffle of today’s market activity – is that fact that Obama is getting ready to flex the muscles of dictatorial control with his threat to issue an Executive Order mandating gun control.  Doesn’t anyone remember that Obama is the guy who based part of his 2008 platform on reversing all of the Unconstitutional Executive Orders executed by Bush and who promised to reduce or eliminate the use of EOs?   Anyone remember?  Anyone?   I remember vividly.

My point here is that as the Fed loses control of the financial markets, I fully expect that the Government will impose tighter Totalitarian control over the country.  I also expect that the populace will rollover and say “thank you, may I have another?”

China turned off its markets after its stock market dropped over 7% last night.  Everyone with whom I’ve discussed this today has expressed disdain.   But the U.S. Government has imposed the ability to implement the same shut down in a limit-down move.  Why has this not shocked everyone?   The duplicity of Americans, even highly educated ones, is incorrigible – if not completely tragic.

All of the highest beta, highest p/e and most overvalued stocks relative to their true underlying fundamentals are getting shellacked today.  AMZN is down nearly 6% and NFLX is down nearly 7%.  The homebuilders are down 2.5-4% across the board.  It’s going to be a profitable year for those who take the leap into the world of shorting stocks.  My Short Seller’s Journal is, up to now at least, a unique publication that focuses on ideas for shorting the market. I also offer risk management advice and include some ideas for using options.  It’s a monthly subscription with weekly reports delivered to your email.  You can access this subscription here:  Short Seller’s Journal.