WASHINGTON, July 3, 2012 – “Politics, by definition, is the process by which the available resources are divided. And as the election rhetoric is making clear, this election is about who gets to keep more of their money and how whatever the government takes in from taxpayers will be redistributed. Thus, what voters will be deciding is primarily how much of their money they will get to keep after November, 2012, and what they will get for what they will pay in taxes, fees, and tribute to the governments, local, state, and federal. More important, on a philosophical bent is what the money paid to the government will buy.”
That’s the lead paragraph from the July 2 edition of Dr. Joe Duarte’s “Market Intelligence Report,” excerpts of which we occasionally get to read on the Decisionpoint investment site where we are longtime subscribers. And it’s a good way to start this very short July 3 “Morning Market Maven” column. Most markets will be closing today at 1:00 p.m. EDT, bowing to the reality of early beach vacation exits from Wall Street.
Contemporary version of the old, revolutionary Gadsden Flag. Time to unfurl it again?
Whether up or down, trading will be relatively meaningless this morning as volume will be negligible, with only a few lonely algos and the relentless and useless HFTs sniffing around to pick up unearned profits off the carcasses of retail investors. If indeed, any are left.
Tomorrow, with bands, parades, and fireworks, millions of Americans will be celebrating Independence Day. But for thoughtful investors, tomorrow should be a day to think about all that we’ve lost over the past four years under this country’s first genuinely socialist Administration and Congress.
The rest of this investment year will hinge, rightfully or wrongly, almost entirely on the November elections. That’s why, in both this column, our investment content will unavoidably slant political. The very act, the very morality of making money is on the ballot this fall. Family livelihoods will be dependent on either taking democracy back or continuing a slow, relentless slide toward the kind of government we see in Hugo Chavez’ Venezuela. Investment strategy will hinge on this as well.
Enjoy the holiday. But let’s all think very carefully about what we’re going to do when we get to the polls this fall. Do we want to be left alone with the freedom to pursue our own course in life? Or do we want our lives dictated to us by a severely compromised and cynical elite who feel it’s their birthright to do so?
Campaigns start in earnest after this holiday break. How do you want to live the rest of your life?
Like everyone else, we’re taking the day off tomorrow, mainly because all U.S. markets will be closed. We’ll be back with a brief column on Thursday as presumably light trading resumes. And Friday, we may have a somewhat longer column, as crucial unemployment numbers will be revealed.
Disclaimer: The author of this column maintains several active trading and investment portfolios and owns residential and investment real estate.
Positions mentioned above describe this author’s own investment decisions and should not be construed as either buy or sell recommendations. The current market is highly treacherous and all investors travel at their own risk, so caution should be exercised at all times.
Illustrations, charts, commentary, and analysis are only the author’s view of current or historical market activity and don’t constitute a recommendation to buy or sell any security or contract. Views, indications, and analysis aren’t necessarily predictive of any future market or government action. Rather they indicate the author’s opinion as to a range of possibilities that may occur going forward.
References to other reporters, analysts, pundits, or commentators are illustrative only and do not necessarily represent an endorsement of such individuals’ points of view. If specific investment vehicles are mentioned in any article under this column heading, the author will always fully disclose any active or contemplated investments in said vehicles.
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