Sometimes at shareholder meetings, you do hear the most awful nonsense. Especially from those who consider themselves ‘ethical’ investors. This morning Mrs S and I were at an investors meeting when one guy started making arbitrary remarks about Trump not getting re-elected. Which he probably will because the opposition haven’t got a strong enough candidate. Then he started talking up the ‘Green New Deal’ some of the Democrats are touting. To which everyone else in the room was going “Say what?” or “I totally disagree.” Which was quite telling. A year or so ago the room would have been calling Trump names like the mainstream media want us to. How times do change.
I’ve actually read this Democrat inspired ‘Green New Deal’ and it’s utter garbage. One of the key precepts being to stop US citizens from flying and insisting they go everywhere by train. Ostensibly to ‘save the planet’.
Two words adequately convey my opinion of that idiocy; “Yeah, right.” Have these proponents even tried travelling across the USA by train or on a road trip? Have these advocates for other people’s austerity ever gotten out of their cosy little suburban nests and seen the mind-strangling vastness of North America in a car? I have. Three times and counting. There and back. Twice trans Canada, once to Florida. Take my word for it, there’s a whole heap of big in North America.
Even at full speed it can take over a week to go from New York to Seattle via car or truck. Forty three hours of non-stop actual driving. That’s without factoring in lunch and gas stops and the odd pause for much-needed sleep breaks. By train it’s almost three days solid travelling without a break. As opposed to only ten hours by air if you factor in all the hanging around at airports, including standing in line, baggage check-in, security theatre and getting to the airport in good time.
As for ‘renewables’, Wind and Solar are no better than subsidy sinks and the proposed ‘Carbon Taxes’ a licence to steal money from the hard pressed middle and working class population and feed it into the pockets of the ultra-rich 0.1%. Not only that but the Chinese and Indians will take one look at the proposals, if they have not already done so, and walk away giggling at the stupidity of the decadent westerners. CO2 is a symptom, not the illness, and human emissions are a drop in the pond. The Indians, Chinese and Russians understand this, but seeing as according to some they’re the ‘bad guys’ instead of just competitors. To the Green New Deal proponents their judgement means little. Even if the Russians, Chinese and Indians happen to be right.
Besides, as Bill Clinton’s 1992 campaign strategist, James Carville, once said; “The economy, stupid.” Middle and working class USA likes strong economic growth and wealth creation. Trump has brought this about by re-energising a business-friendly environment. Overall unemployment is as low as it’s been for at least five decades and the only thing that might unseat him is a massive crisis that he flubs completely. Rather like Bush did with both 9/11 and the ’08 financial crisis. Besides, the US Democrats haven’t a strong enough contender for the US Presidency and the Green New Deal is proving massively divisive.
Nor are there any indicators of a financial crisis which might threaten the prosperity the US is currently rediscovering. Of course there will be market corrections over the year, just like over Christmas, but any dips won’t exceed much over 5% of total market value, which to me is no good reason to dump any stocks. Indeed the dead cat does seem to be bouncing like it was made of super ball rubber. I’m just wondering if I should leave my cash reserves just as cash in a high interest account or find an undervalued stock that’s worth a buy in.
Which means I’ll be talking to my brokers again next week. Although SNC-Lavallin aren’t on my list of investment opportunities. Not until the dust has settled over subpoenas being served on various members of the Canadian Trudeau administration, which might lead to their electoral downfall. Not only is little Justine pissing Canadians off because he makes them look weak and silly, but there’s a scandal brewing which may involve the RCMP being brought in to give our current PM the ‘perp walk’. Although that sort of thing only happens to the little people, not the ruling elites.
To replace the Liberals politically, I rather like the sound of the new People’s Party of Canada under Maxime Bernier, as Scheer’s Progressive Conservatives come across as totally cucked who will do little to get rid of the oppressive extensions to ‘Hate Crime’ legislation as expanded over the last three years. The local Burnaby by-elections next week should show which way the Canadian wind is blowing but I have noticed that there’s a lot of new activism at the grass roots level. A sea change is taking place, but whether that change will be enough to get rid of the Liberal party is moot. We will see.
I also talked to my broker about picking Mastercard or VISA as an investment opportunity. I found myself explaining in detail to Mrs S why Mastercard might take a share hit in the next six months because of their implication in the Patreon scandal. Payments processors should just do that. No more, no less. Not intervene in people’s opinions and private lives where they have no business.
To close on these and related matters I would point out that money has no morality, because one persons morality is another’s blatant hypocrisy. As certain payment processors and their cohorts may find out when the mechanisms they put in place to enforce their world-view are turned against them. Could it happen to nicer people? Mmm-maybe.
Have a nice weekend.