07 September 2011

SP 500 and NDX Futures Daily Charts - Pity the Plight of the Corporate Welfare Queens



Big rally today and a relaxation of the fear trade.

Republican candidates debate tonight.

Obama, more right of center than the raving socialist than the spinsters paint him, should join them as a placeholder for the Nelson Rockefeller wing of that party. 

Ron Paul will stick out like a sore thumb.  He is third party material, although his libertarianism suits the rapacious.  Still, he is not in favor of supporting the Wall Street Welfare Queens and the Military Industrial Complex  in the manner to which they have become accustomed, so he will be marginalized by the GOP.

Better accept your corporate masters, or the socialists will take your money and give it to the weak, the immigrant, the unworthy. Such simplistic arguments rarely fail to sway the unthinking and the fearful.

The plight of US corporations, which are enjoying the lowest effective tax rates and fattest profits in years, and who are still digesting the gains of fraud from deregulation and pocket politicians, will be trotted out en masse like a Memorial Day Telethon for Pig-itis.

Cut corporate taxes, deregulate, free the market from the burdens of government, and the riches will trickle down to the middle class. That is what we will hear, with little to the contrary.

One would think that CEOs are standing in breadlines, the banksters are going to Coney Island instead of frolicking in the Hamptons, and their wives are driving Fords instead of Ferraris.

Where is the Justice? Where is the Reform?