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A Market Plunge/Rally, Trayvon, DOMA, Voting Rights and Paula Deen. The Heat is On.
Jul 1st, 2013 by Admin Mugsy

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So much has happened these past couple of weeks, I could have spent hours discussing each one: We saw a series of triple-digit plunges in the DOW in just a few days caused by what? GOOD news on the economy. (WTF?) The “Zimmerman Trial” finally got underway… with a Knock-Knock Joke. The Supreme Court declared Same-Sex Marriage legal in states where it is already legal, but left the door open for state-bans where it isn’t… essentially GUARANTEEING an inevitable return to the Supreme Court when a married couple from one state moves to a state where their marriage is not recognized. And while the Supreme Court was extending marriage rights to gay couples, it was taking Voting Rights away from millions of minorities, essentially declaring that racism in the South was dead the same week people excused famed Southern TV Chef Paula Deen for using “The N-Word” because… “she’s from The South and that’s just how they are.” (I wish I could say I was surprised Justice Thomas would vote against the Voting Rights Act, but he’s always been an OREO… and yes, that is meant to be as offensive as it sounds.) And to cap it all off, the nation closed out the first week of Summer with a record-breaking heatwave, with my hometown of Houston hitting a stifling 107′ at 5:00 in the freaking evening (most years the temperature here peaks around 101′ the first week of August.)

Let’s take them one at a time:

First, the Stock Market: I used to write about The DJIA (“DOW Jones Industrial Average”) frequently  during  the  Bush  Presidency. Plunges of 250 points or more became commonplace, culminating with a total collapse of Wall Street and the financial industry Bush’s final year in office. There were no extraordinary one-day gains to balance out the declines, and just about every plunge could be tied to a stupid decision made by The GOP and/or The Bush Administration (the skyrocketing price of oil as a result of invading Iraq; deregulating the financial ratings industry that led to Trillions in bad investments being labeled: “AAA”; and cutting deregulated mortgage interest rates to zero resulting in a wildly over-valued market bubble balanced on the point of a pin).

But during the Obama Administration, I’ve written very little regarding the Stock Market. Primarily, because fluctuations in the DOW of less than 200 points have very little to do with the health of the general economy, and because every series of declines over the past four years have been brief, followed soon after by upswings that more than made up for the losses.

The DOW, at its lowest point following the Bush Presidency and the Financial Collapse, barely a month after Obama took office, bottomed out at 6,443.27 on March 6, 2009. Last month, the DOW closed at a record high of just over 15,400… that’s an increase of almost 240 percent in just four years. If President Obama is a “Socialist”, he’s a piss-poor one.

So what caused last week’s momentary 800-point drop in the DJIA over 3 days a few weeks ago? Believe it or not, “good” news from the Federal Reserve that the economy is recovering so well that it may be able to halt “quantitative easing” (IE: “Stimulus”)… pumping $85 Billion dollars a month into the economy. On that news, the price of Gold and Treasury Bonds plunged because Gold & Bonds are where you put your money when the economy is bad. Fears that the Fed would stop pumping money into the economy brought about fears that they might also raise interest rates to keep the economy from growing too fast. But quickly, cooler heads prevailed as news of a healthy economy might actually be a good thing, and the DOW is already back up near the 15K mark.

Oh, and the S&P 500 saw its best six months since the heights of the Clinton Bull Rally in 1998.

Next is the “Zimmerman” trial over the murder of Travon Martin. As you already know, Zimmerman’s lawyer opened with a Knock-Knock joke, but that’s probably not the most damaging thing he did to his clients’ case last week. He is NOT using the “Stand Your Ground” law as the basis of his client’s defense, and with good reason. As Zimmerman’s lawyer himself pointed out, “Travon Martin was not unarmed that night”, pointing out that Martin “didn’t have a gun or a knife that night”; his weapon was “the concrete sidewalk”. So basically, he just admitted Trayvon was “standing his ground using the sidewalk as his only weapon”. Had he of used a gun, he might have shot & killed his stalker… who was armed with a gun himself and confronted Martin with it in the middle of the night… at which point Martin would have been arrested and thrown in jail for murdering Zimmerman. Trial not included.

The moment Zimmerman… who is not a police officer… left his mother’s basement with a gun to play “rent-a-cop” in the middle of the night the moment he saw a black kid walk past his window, he himself was responsible for anything that happened. And we know WHY he left his home to pursue Martin: Because “they always get away”, he is heard saying on the 911 tape after the operator asked him if he was following Martin and told him “We don’t need you to do that.” But a young black guy… for whom there was NO reason to suspect had done anything other than walk through the neighborhood at night… was “about to get away”. After doing what? There were no alarms going off. No one shouting, “I’ve just been robbed!” I find it hard to believe even Zimmerman could mistake a can of iced tea and a bag of Skittles for handfuls of stolen property. So why exactly was Zimmerman following him? Why did he think it necessary to “call the police” and detain Martin himself until they arrived?

Think about it? Why was Zimmerman following Martin?

Zimmerman… armed with a gun and was stalking Martin in the dead of night, then confronted Martin. Probably even pulled his gun on him and ordered him to stop. At some point, they came in close enough contact to grab one another and fight. Unarmed, Martin used the only weapon within reach: the concrete… as Zimmerman’s own lawyer pointed out. Now in a struggle he himself provoked without regard for the consequences (what if Martin HAD been an armed robber? Was it wise for Zimmerman to put himself in harms way?), he pulled out his gun and killed the man he himslf provoked a confrontation with.

The fact that anyone in this insane country even thinks Zimmerman has a leg to stand on here, justifying the need for a trial, highlights just how screwed up our gun-crazy culture has become in this country.

Next, we saw the Supreme Court rule of Marriage Equality. While the High Court’s narrow 5/4 ruling is seen as a victory for the Gay Rights movement, the ruling basically threw the decision back to the states.

Now here is where it gets clear as mud: The Supreme Court basically ruled that a state law establishing Marriage Equality is just as valid as a state law BANNING Marriage Equality. So basically, the highest court in the land that rules on the National efficacy of a law, has declared that something can be both legal AND illegal at the same time depending upon where you live. Why do I get the feeling this isn’t over?

The Supreme Court also decided to strike down key parts of the 1965 “Voting Rights Act”, calling it “outdated” because “times have changed”. No word on their updated ruling on The Second Amendment.

And finally, a record heatwave was parked over most of the Southern United States last week, tying & breaking records across the U.S.. But don’t worry, Global Warming is still a hoax and we’ll be seeing snow in July any minute now.

Any minute now.

I said, “any minute now.”

Hello? Snow? Where are you? Hey, I’d settle for a cool breeze right about now.

(Oh, and an update on Mom. If you read last weeks post, things are not going well and my mother had had a bit of a setback, unconscious in the ICU, I’ve been visiting her hospital bed every day now and hoping for things to improve. As such, I haven’t been as on top of the news as much as I might otherwise have been, and posting may become a bit erratic in the common weeks. Hopefully, Mom’s recovery will be swift and full. – Mugsy)
 


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