2/15/16…You picked a fine time to leave us, Scalia…and to roil the markets further!

(UPDATE: My prediction yesterday that the stock market would tank due to the inability to get anything done with an even number of  Supreme Court justices half one way and half another…was in a word: WRONG!…does that mean that Wall Street is welcoming more gridlock? Could be…after all they have everything to gain.)

…with apologies to Kenny Rogers, and the late Justice Scalia. Of course, he had no way of knowing he was going to die…especially after two scathing dissents just last week. Was he upset enough about them that he endangered himself?
I mean no disrespect to this jurist, even though I disagreed with many of his rulings and his ‘strict constructionist’ approach to Constitutional Law. Sadly, the GOP saw it differently, even though he was on ‘their’ (read extreme conservative) side, the candidates and the unstoppable Senate Majority Leader, Mitch McConnell, just couldn’t help themselves.

It is for this reason that I believe the markets will suffer badly tomorrow (Tuesday), as it adds to the uncertainties that are already shaking its foundations. What about a bounce? We are in danger of going into a secular bear market following a secular bull market within a bear market. Despite the magnitude of the financial crisis, this is the fastest recovery eve…and that should concern you because it usually takes 7-10 years to do that and we started the recovery a year later! Think about it…we are on borrowed time.

Here are my objections:
1. First, McConnell opened his yap as soon as he heard of his death saying no nominee will be approved…or disapproved, meaning the old stalemate is still in play, in this term or until a new President is elected;
2. Unstoppable Senator and would-be presidential nominee, Ted Cruz, said that there is precedent for the President to not make an appointment in an election year, and if he did for the Senate to refuse to act…really? It has happened just ONCE before and that is not a precedent.
3. Senator Mark Rubio said that there is a ‘pattern’ of President’s not making appointments in their last ten months (is that a coincidence or did he just make it up); Rubio needs to read the Constitution on the rule of advise and consent.
It is insulting to use the death of a Supreme Court Justice for their own personal gain…and to say that ‘no matter’ who Obama nominates, there will be no up or down vote. Isn’t that like, I’m going to take my bike and go home? It is they who are denying the Constitutional right of the President to make appointments, but the key is in the language the GOP is using, and it is not good for America.
If the GOP has its way, and there is no reason they shouldn’t succeed, we will have a vacancy in the 2017 term for much of it, especially if a Democrat is in the Oval Office. A 4-4 decision is worthless, and think of all those extremists state governments (dare I say Texas?) that will pass all kinds of laws that won’t be able to be repealed until at least 2018! Well done, GOP, well done!
I, for one am frankly appalled at the near 40 attempts to destroy the ACA and the push by ALL GOP candidates for prohibiting ANY abortion. Of course, this will only apply to the poor who can’t afford another child (shades of the Catholic Church’s reasoning: to increase the number of Catholics…but at least they did some good). Rape or incest or anything else, including the health of the mother are not to be considered. But there is one thing…one major thing…these brilliant people who have no regard for science…have forgotten: you can make a woman have a baby…but you CANNOT make her take care of it. Therefore, it becomes the obligation of the government to do just that. So let’s do that and increase the number of people in poverty…already at least one in three children are living at the poverty level. Is this what you want for a legacy?
Think about this: we elect a president for four years…only in the first, and maybe the second (althought Obama didn’t even get that), they can get something done…as important as the ACA was, Obama used up all of his political capital on it and it is a flawed piece of legislation that could have been good and like many other countries if he hadn’t caved to the pHarma lobby for support and the GOP hadn’t insisted on preserving ‘states rights’ (sic) by insurers only being chartered by states. But even if flawed, don’t fall for the GOP trick of ‘repeal and replace’ because it will never get replaced…America loses.
This term for the Supreme Court has just about run out and now it is split 4-4, and if there is a swing vote it will be Chief Justice John Roberts, who Cruz admits he voted for but only to support his president? This man is sick and frankly reminds TB of ‘Tailgunner Joe’ McCarthy! He scares me almost as much as Trump. I say, almost as much because with Trump you don’t have a clue what he will do next: boots on the ground…banning Muslims from travel…perhaps banning the Muslim religion…telling lies and when confronted just keep repeating them till you wear them down. He still hasn’t backed down from his statement about Muslim’s cheering on 9/11. While I am not impressed with the Dems (I was a lifelong GOP’er until McCain chose Palin…and what did that get him?
The party likes to say that all are welcome to run as they have a ‘very wide tent.’ Really? Then why doesn’t anyone break ranks and give a damn about the American people they are sworn to serve.
Back to Cruz…he has played down that his wife is a Managing Director of Goldman Sachs…and has taken a leave to ‘help with his campaign’. He conveniently forgot two half million dollar loans, one from Goldman and the other from Morgan Stanley…a violation of campaign laws. But before we get too critical of him, what about Hillary’s $600,000 payment from Goldman for three speeches? First, she won’t release transcripts of the speeches (boring!), but more importantly she told Chuck Todd on MTP a week ago that while she has accepted donations from the big banks (after all they were in her state when she was a Senator and suffered terribly after 9/11,,,pullease!!!). She went on to say that “you have to be able to tell the good players from the bad players” – really??? Then how come you couldn’t even identify Goldman as a bad player….weren’t you there watching Sen. Carl Levin skewer Lloyd Blankfein (both graduated first in class at Harvard Law a year apart – but to watch Blankfein you had to wonder if he went to college anywhere?
Believe it or not, despite Bernie’s leftist views, he might be the best choice since some people who have been polled say they like EITHER Trump or Sanders??? But Bernie, unlike Obama, knows how to work his way around Congress…would he succeed? All I know is he is a true believer…
I have to admit a fondness of sorts for John Kasich…at least when he talks he makes sense…just wish he would stop with the theatrical gestures.
In closing, I will bring up a proposal I jumped on board with decades ago: a ONE TERM, SIX-YEAR PRESIDENCY…same as a Senator only no second chances and frankly that is what the founding fathers that the GOP loves to talk about wanted: Representatives who would come to Washington for two years and carry the message of their constituents, then go home and be back among them; and more importantly that six year term for Senators…staggered for continuity and thus no need for people to make a career in Washington. Would have loved to hear Justice Scalia tell me his views on this.

Don’t take any wooden nickles!

TB

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2 Comments »

  1. Yarnman said

    TB–If the GOP-controlled Senate isn’t going to take up a Supreme Court nominee by Obama, wouldn’t it be fair for the GOP to tell us who their nominee will be so that voters this fall will be able to choose?

    By the way, the House has voted 63 times to repeal the ACA, but it also doesn’t tell us what will be the alternative for the 11 million who have signed on to the ACA.

    My opinion is not to worry about Cruz–his poll numbefs trail Trump sharply. I’m more worried about Bill Clinton getting his nose under the tent again, aen’t you?

    –Yarnman

    • traderbill said

      Interesting suggestion, as usual, Yarnman. Grassley backed down today and makes McConnell and all those wannabe’s look bad by saying he will reserve judgment until a nominee is named…as he well should have. Initially, he concurred with the rest but showed he is an honest man.
      I’m worried about Hillary too. I was hoping Biden would run with Elizabeth Warren as a running mate. Biden knows his way around the Hill and is well-liked…harder to throw darts at him. But Warren is the key.
      I actually like Bernie better than Hillary as he knows he can’t get through what he wants but knows how to work with Congress.
      I warned about ‘repeal and replace’ – a non-starter and more of the transfer of wealth from the middle class.

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