Tuesday, March 3, 2026

Iran --some thoughts

 First things first, I really hope that our attack on Iran leads to a stable, healthy, democratic, region where all people are treated with respect.  Of course our partner Israel (maybe even our leader if Rubio is to be believed) in this war does not pursue such an with Palestinians, but that is a story for another time.  Also I am old and remember the Arab Spring and our previous attempts at bombing our way to democracy and its failures.

Things to think about:

1.  I believe the most likely outcome of our war is a failed state in Iran.  Historically which has been more dangerous, a failed state or a state sponsor of terrorism?  Answer--a failed state.  The 9/11 attacks came out of a failed state and is the only time in the last 75 years there has been a mass causality event on American soil from a foreign actor.  Also how much trouble could a failed state located on the strait of Hormuz cause?  A lot.  Bottom line, a bad acting state is bad, anarchy in a geographic important location with lots of arms and oil and hate towards America might be a heck of a lot worse.

2.  Who is winning right now?  China.  A classic blunder is trying to fight two wars at the same time, and China is watching us burn through munitions to destabilize the Middle East.  We are told that we needed to attack Iran because they were weak and we had actionable intelligence that their leadership was gathering.  I wonder if China is taking a hard look at Iran and our force readiness and thinking, China is  never going to have a better time to take Taiwan.  If I was in Taiwanese leadership I would be hiding under ground and have the country at Defcon 2.

3.  You know what Trump and the GOP never talk about any more---the US debt.  First came Trump's BBB which is projected to add $4 TRILLION to our debt over 10 years ---while cutting Medicaid and crushing rural hospitals resulting in 10-50% increases in the cost of health insurance.  Then Trump decided to bomb 7 countries and who knows how many boats in the Caribbean.  He also decided to deploy the National Guard in American states and the Capitol in a show of force to intimidate Democrats.  All of these things cost money.  We will be lucky to see our debt grow by only an additional $4 trillion over the next 10 years.  Of course with a President whose businesses have declared bankruptcy 6 times, worrying about how the bills get paid is not on his to do list.  For the rest of us who will pay the bills it should be.  With  America  burning through goodwill as fast as we are burning through Patriot missiles, is it possible that the OPEC countries decide to buy fewer US bonds in the future.  Hell yea.  While I don't foresee all foreign countries deciding to sell all their US government bond holdings is it possible or even likely that they decide to cut way back on future purchases which will correspond with our ever rising borrowing needs.  Yes, indeed.

Finally a bit of education for all those arm chair middle east experts in the GOP (I've lost track of the number of GOP members of Congress who don't know this) Ali Khamenei was killed this week.  He lead Iran from 1989. Ruhollah Khomeini lead Iran from 1979-1989 and was responsible for the fall of the Shah, the take over of the US embassy and the 1983 bombing in Beirut.  Every time I hear a GOP senator telling me that Khamenei has been in charge since 1979 I want to scream that maybe just maybe before risking American lives, the global economy and our military readiness you should read the cliff notes on the Middle East (PS Iran is mostly Shia Persian and the states surrounding them are Arab Sunni and they don't like each other.  As a matter of fact they have been at each other's throats off and on for about.....1400 years.  So don't be so surprised when Iran decides part of their plan to share the pain includes attacking their Arab neighbors.)  

Wednesday, February 25, 2026

About team USA gold medal in hockey---follow the dam rules

 Team USA hockey beat Canada in a great exciting game.

And then Kash Patel and DJT and the team itself kinda screwed it all up.

I do know a thing or two about hockey---let me share some knowledge with you.  Team USA at the Olympics is bound by IIHF rules on the ice, and off the ice they are bound by Team USA rules.  Those rules include NO PHONES in the locker room and access to the locker room is limited to team members and staff (with safe sport certification).  Clearly these rules were not followed and the coaches should be fined and reprimanded.  More importantly is the example set by the top level Team USA team.  If they don't follow the rules regarding access to the locker room and cell phones why should Bantams or Team USA JRs?  

We have seen what happened with women's gymnastics when the governing body didn't follow rules re safesport.  Why the hell was Kash Patel allowed in the locker room.  Is he safe sport certified?  My daughter had to get safe sport certification just to play when she turned 16.  Can we please see Mr. Patel's current safe sport certification?  My son has to re up his safe sport certification every year to play at college (and coach in the summer).

Maybe with a little bit of time and distance the team could have enjoyed themselves in the locker room, and then thought about being used as a political tool at the State of the Union Speech.  Bottom line Team USA after their great win has done nothing but hurt hockey.  A private meeting with the president, fine.  Allowing themselves to be trotted out so that Trump could share in their glory at the SOTU not fine at all.  And chugging beers with Kash Patel and locker room banter with the president.  Really bad optics.  Guys your better than this. 

Tuesday, February 24, 2026

"the dow is above 50,000" Pam Bondi

 Ok, thanks Pam.  I am pretty sure that actually isn't relevant to the DOJ's activities or related to the question you were asked, BUT in the spirit of the Olympics lets take a look and see if DJT would be on the podium for equity returns over the past year.

Gold   medal           Korea KOSPI      127%

Silver  medal          Japan Nikkei        50%

Bronze medal         MSCI Emerging markets index 49%

                       Canada TSX        34%

                        MSCI world index ex us     33%

                       UK    FTSE                        23%

                      MSCI World                        19%

                       Hong Kong Hang Seng    15%

                        S&P 500                            15%

                        Dow Jones index                13%

Our president can post a video of him winning the gold medal against Canada but he sure can't claim that his economic policies are medal winning.  Canada TSX is doing 260% better than the Dow over the past year.  Emerging market are doing 372% better than our poor Dow.  The entire world stock market is doing 220% better than the S&P 500.  So when Trump claims tonight at the State of the Union that we should be thrilled with how good our 401ks are doing, you should realize that if your sold all your stocks when DJT was elected and bought the MSCI index ex US you would have done 220% better.  Let that sink in.

To add insult to injury (or at least poor performance) if you had invested overseas you also would have not lost 8% (DXY) as your currency our dollar depreciated.

Would Mr. Market give DJT a medal for our stock market performance.  Nope.  But one thing this administration doesn't do is let facts get in the way of a good story.  So Pam you go right ahead and shut up those evil socialist libtard dems with that devesating clap back that we should all be thankful for our crappy equity performance under DJT.