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Thursday, May 04, 2017

Not to gloat, but we were right

In 1986, Charleston Newspapers started its 401-k program. I elected to put the money in the stock market, 100%. My colleagues said no. That's retirement money. You must play it safe. Some of them put their money in T-bills. I'm guessing they wish they had gone with stocks.

You have to invest long-term which applies to stocks, sports (Browns drafted long, not short this year), the weather (a cold day does not a winter make), and politics. Never short President Trump.

Jonathan Chait of New York magazine shorted President Trump on the repeal and replacement of Obamacare, after House Speaker Paul Ryan had to pull the bill six weeks ago.

From Jonathan Chait:
With the collapse of the House health-care bill, the cause of repealing Obamacare, a right-wing obsession for seven years and a day, has died. The flame will never be fully extinguished in the hearts of the true believers — after all, in right-wing think tanks and other places far removed from electoral politics, anti-government zealots still dream of phasing out Social Security or Medicare. But the political project dedicated to restoring the pre-Obamacare status quo, in which people too sick or poor to afford their own insurance without the subsidies and regulations of the Affordable Care Act could be safely ignored, is gone forever. And it is dead for the best possible reason, the reason that undergirds all social progress: because a good idea defeated a bad one.
Now the House has indeed voted to repeal and replace Obamacare. I could point to lesser conservatives who agreed with Chait's assessment, but why bother? I want to stay on their good side. I want them to read my books. Maybe they will learn.

But Chait? He is a dumb ass, who also wrote:
By the way, Obamacare is not the only part of our former president’s legacy that will live on
We hung in there. We realized legislation takes time. And of course, this sucker still has to sneak through the Senate, and then reconciliation, and then a bunch of court challenges because the Left will never, ever accept defeat gracefully.

To be sure, making that sausage took some doing and stank. But I am confident the replacement will be better than what we have now, and that conservatives will force another further stripping of the law next year or the year after.

Conservatism works best when it looks at the big picture. I knew 31 years ago that high-interest rates were temporary, and that in the long-run capitalism would prevail.

And so it is with health insurance.

By the way, President Reagan did not get to sign his first major legislation -- the first tax cut -- until August 13, 1981.

We are 101 days away from August 13, 2017.

On November 8, 2016, the American people said, "Trump the Establishment!"

Now read the book that explains how and why the press missed this historic the election.

It is available on Kindle, and in paperback.

And then read the original, "Trump the Press," which chronicled and mocked how the media missed Trump's nomination.

It is available on Kindle, and in paperback

Autographed copies of both books are available by writing me at

Please follow me on Twitter.

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  1. Three boys are discussing their parents' investment decisions.

    Says the first boy: "My Dad invested in gold, and now there's a Viper outside our house."

    Says the second boy: "Yeah, well, MY Dad invested in oil, and now there's a Ferrari outside our house."

    Says the third boy: "Yeah, well, MY Mom invested in silicone ... two bags of it ... and you should see all the sports cars in front of OUR house!"

  2. If the money wasted on the Social Security "trust" had been put into the markets, it would be mightily in the black.

    Same here. Even the Demos must be glad it's gone.

  3. TWO victory laps today! Demmies are pissin and moanin again. Hahahaha. Gotta give some credit to Ryan for holding things together. It wasn't pretty, but it was a win.

    1. Ryan is completely sidelined. After the Pres. kicked the FC in the but, and the hissy fit that ensued, don't attack the "conservatives" that brung you. Not only are they a group of do nothings, they are all #NeverTrump. What happened next is Meadows became the defacto Speaker, and he got it across the finish line. Amazing skills President Trump possesses.

  4. Back in the '80s I read in The Economist there were only two vehicles which made enough money for retirement: real estate and equities (stock market). I followed that and have not been sorry.

  5. "President Reagan did not get to sign his first major legislation -- the first tax cut -- until August 13, 1981."

    Yabut, Tip O'Neil controlled the House from which the 1981 Tax Cut Bill had to emerge.