Steny Hoyer

Democrats Hammer "Tyrannical" Trump For "Monday Night Massacre"

“President Trump has commenced a course of conduct that is Nixonian in its design and execution and threatens the long-vaunted independence of the Justice Department," said John Conyers, senior Democratic on the House Judiciary Committee. "If dedicated government officials deem his directives to be unlawful and unconstitutional, he will simply fire them as if government is a reality show."

Nancy Pelosi Retains House Minority Leadership Position

After a long-fought battle between Nancy Pelosi (D-CA) and Tim Ryan (D-OH) for leader of the House minority party, as expected, Pelosi has emerged the victor.  Seems the Democrats learned very little from the 2016 Presidential election cycle.

Democrats Question "Loyalty To US" Of "Treasonous, Traitor" Trump

In a full court propaganda press, enabling by a liberal media that can read polling data as well as anyone else, the 'wild conspiracy theory' that Donald Trump coordinated with Putin to hack and expose DNC emails (that prove the level of rigging and collusion that is too much to bear for many democracy-seeking citizens) has now become confirmed fact... entirely lacking any actual facts. In a desperate bid to regain the narrative, as any convention bounce is erased for Hillary Clinton, her surrogates, as The Hill reports, have now stepped it up, calling Trump "treasonous" and a "traitor," questioning "his loyalty to America."

Meanwhile In The U.S. Congress: "Chaos And Shouting" After LGBT Measure Fails To Pass

The US economy must be truly fixed and all geopolitical conflicts resolved, because as the world enjoys its global utopia on a day when yet another airplane was taken down by terrorists according to the latest news, the US House of Representatives is busy dealing with stuff such as this: according to the Hill, "the house floor devolved into chaos and shouting on Thursday as a measure to ensure protections for members of the LGBT community narrowly failed to pass after Republican leaders urged their members to change their votes."

Congressman Hank Johnson Will Introduce Bill To Stop The Militarization Of Police

President Obama has once again proved his irrelevance and uselessness by failing to say anything meaningful on the disturbing events of the past week. In fact, he only decided to address it personally and publicly yesterday after being heavily criticized for issuing a press release about the party he attended in Martha’s Vineyard as civilians in Missouri clashed with a paramilitary police force. Despite Obama’s complete apathy, there are some Congressmen forcefully speaking out against the trend from “both sides” of the increasingly meaningless Republican and Democrat divide. The most noteworthy thus far appears to be Democrat Rep. Hank Johnson of Georgia’s 4th Congressional district. In fact, he has sent a Dear Colleague letter to fellow representatives of his intention to introduce the Stop Militarizing Law Enforcement Act in September when Congress returns from recess.

Guest Post: The Noble Lie Of Government Healthcare

“If you like your health care plan, you can keep your health care plan.”

These words, spoken by U.S. President Barack Obama in various forms and iterations, have become a running joke amidst the rollout of the Affordable Care Act. All across the country, hundreds of thousands of citizens are receiving cancellation notices in the mail. The stringent requirements for insurance plans under the new edict are curtailing many individual policies. A simpleton can grasp the economics: you prohibit something, it goes away. And yet, for years prior, the White House ignored the oncoming train and is now slowly inching away from the wreckage.

This was not the unforeseen consequence of good-intentioned legislation.

Stocks Surge As Algos Finally Catch Up With Six Hour Old News

Curious why algos suddenly are buying because other algos are buying because other algos are buying, pushing the S&P higher by 10 point in virtually no time? Simple. It appears at least one vacuum tube decided to scan the news archive, and fell upon the Politico story from 7 AM Eastern which said that the Republicans and Democrats had met in a secret meeting.

Friday 13th Markets Jolted By News Summers Appointment Coming As Early As Next Week

Overnight asset classes got a jolt following a report by Nikkei that Obama was moving toward naming Summers the next Fed chairman, citing “several close US sources,”  pushing stocks modestly lower in Europe, with bond yields higher. According to the report, Obama is to name Summers as next Fed chairman as early as late next week, after the Federal Open Market Committee meeting. Otherwise, risk is still digesting the news of the confidential Twitter IPO, as it is becoming quite clear that some of the largest names (Hilton also announced yesterday) are seeking to cash out in the public markets. Is this the top?

Sentiment Shaken By Concerns Of Political Circus Returning To Italy

While trading during US hours is all about the Cliff On/Cliff Off debate, the rest of the world is simple: the overnight session begins (and largely ends) with whether or not China has done another reverse repo (if yes, then PBOC will not lower rates, and inject unsterilized billions into the market) and whether the Shanghai Composite is up or down. Last night, after jumping by 3% the session before, it was down 0.13% to 2029. Was this it for the great Chinese "bottom?" Japan may or may not figure in the equations, although with the 10 Year future just hitting a record overnight, it is amusing to see how the bond complex is indicating record deflation just in time for the market to anticipate a surge in inflation. Ah, the joys of frontrunning central planning's monetization of government bonds. And then we move on to Europe, which is a whole new level of basket case-ness...

Guest Post: America’s Hijackers – Where Are They Now?

Spoiler Alert: They’re mostly still in office  (so much for building suspense).

On October 3, 2008, 338 elected officials (263 House reps, 74 Senators and 1 President) took it upon themselves to save America from certain financial doom by passing the Emergency Economic Stabilization Act of 2008, completely ignoring the will of the American people,  opting instead to fulfill a Thomas Jefferson prophesy:

“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” 
~ Thomas Jefferson