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CNN, Free Speech & Reddit – A Self-Destruction in Real-Time

July 7, 2017 by Jeff Carlson, CFA

“Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.”

The First Amendment of the Constitution is surprisingly short. It also applies only to restrictions against government actions. “Congress shall make no law…”

Over the years, courts have expanded the Free Speech interpretation of the First Amendment to apply against state and local governments in addition to the federal level. BUT – the First Amendment does not apply against companies, organizations or individuals.

In other words, CNN political analyst Kirsten Powers was correct when she noted that, “News organizations cannot violate a person’s First Amendment Rights”.Continue Reading

Celebrating Our Declaration of Independence

July 4, 2017 by Jeff Carlson, CFA

There is something beyond the establishment of a new nation, great as that event would be, in the Declaration of Independence which has ever since caused it to be regarded as one of the great charters that not only was to liberate America but was everywhere to ennoble humanity.

It was not because it was proposed to establish a new nation, but because it was proposed to establish a nation on new principles, that July 4, 1776, has come to be regarded as one of the greatest days in history.

Three very definite propositions were set out in its preamble regarding the nature of mankind and therefore of government. These were the doctrine that all men are created equal, that they are endowed with certain unalienable rights, and that therefore the source of the just powers of government must be derived from the consent of the governed.Continue Reading

Russian Dolls – A NYT Correction & An Intelligence Fabrication

June 30, 2017 by Jeff Carlson, CFA

An interesting correction appeared in the New York Times from a Maggie Haberman article on June 25th. I missed the actual correction but was alerted to it by a later article on the matter.

Part of what made the correction interesting was the manner in which the article was rewritten – done in a fashion that made it difficult to see where the correction actually applied – thereby attempting to render the whole correction moot.

Equally interesting was how the correction glossed over the makeup of our intelligence agencies – and inadvertently exposed how the Times – and almost every other news organization – exaggerated the role of the intelligence agencies in promoting the notion of Russian Collusion. It also highlights the roles played by the intelligence agencies actually involved:Continue Reading

Seattle’s Minimum Wage – Politics Versus Facts

June 28, 2017 by Jeff Carlson, CFA

In 2014, the City of Seattle passed a  three-step minimum wage increase – from $9.32 to $15 per hour. You can find the exact details here. The $15 minimum wage began in 2017 for larger employers who do not provide healthcare benefits – $13.50 for those larger employers who do provide healthcare benefits. Adoption of the $15 rate by small businesses is set for 2021 – with inflation adjustments. Two wage increases have already been fully implemented. The first, from $9.32 to $11, occurred in 2015. A second increase – to $13 – took place in 2016.

And then a funny thing happened. The city, led by Seattle Mayor Ed Murray, decided to commission a study on the wage hikes – fully expecting the results would provide support for their position.Continue Reading

Trump’s Supreme Court Victory

June 26, 2017 by Jeff Carlson, CFA

The Supreme Court granted President Trump what amounts to a crucial, although partial, stay of lesser court rulings on the Administration’s Travel Ban. The ruling was unanimous at 9-0. I have previously written on the Travel Ban, and, like many, am unsurprised at the ruling. The court will take up the case in October when it reconvenes – maybe.

You can find the full ruling by the Supreme Court here.

But first, it’s worth recalling exactly what the Travel Ban was attempting to accomplish. The second Executive Order’s Travel Ban contains four significant pronouncements:

  1. Directs the Secretary of Homeland Security to conduct a global review to determine whether foreign governments provide adequate information about nationals applying for United States visas.
  2. Directs that entry of nationals from six countries – Iran, Libya, Somalia, Sudan, Syria, and Yemen – be suspended for 90 days from the effective date of the order.
  3. Suspends the U.S. Refugee Admissions Program (USRAP) for 120 days following its effective date.
  4. Citing the President’s determination that “the entry of more than 50,000 refugees in fiscal year 2017 would be detrimental to the interests of the United States,” the order suspends any entries in excess of that number for fiscal 2017.

Continue Reading

13 Demands for Qatar

June 23, 2017 by Jeff Carlson, CFA

Members of the Gulf Cooperation Council (GCC) issued what can only be described as an onerous list of thirteen demands to Qatar. I previously wrote about the GCC’s cutting of ties with Qatar – and the unprecedented level of GCC coordination and cooperation from such an action.

The Middle East has realigned dramatically, dividing itself between those regimes who support extremism and those who oppose it. The GCC, led by Saudi Arabia and Egypt, have chosen to stand against extremism. Iran – and Turkey – have chosen otherwise.

Qatar – a member of the GCC – has quietly, yet consistently, chosen to align itself with extremists – particularly the Muslim Brotherhood. Qatar supported the extremist factions in Syria throughout the civil war. And Qatar has subtly aligned itself with Iran – in direct opposition to the Saudi/Egypt led efforts to align Arab nations against the Iranian regime.

The allied GCC Arab nations want an end to Qatari interference in domestic politics, an end to support for extremism – and a strong unified GCC stance against Iran.Continue Reading

Illegal Voting – Some Uncomfortable Facts and Findings

June 20, 2017 by Jeff Carlson, CFA

A while back, in A Voter-Fraud Friendly Environment, I documented the laughably lax voting requirements in my home state of California. Now we have a new report by Just Facts that concludes that “as many as 5.7 million noncitizens may have voted in the 2008 election“. The Washington Times reported on the study yesterday.

I don’t know if the headline number is correct – although the methodology looks sound. I am far more interested in showing that illegal voting took place on some sort of significant scale than I am in determining the actual number. You can examine the Just Facts findings I highlight later in this piece and decide for yourself.

But first, a quick summary of the California voting situation:

  • No ID of any kind is required to actually vote at the ballot box
  • Illegal immigrants are legally allowed and encouraged to obtain CA drivers licenses
  • State officials chose not to make non-citizen license holders searchable in the DMV database
  • Eligible holders of CA driver licenses are automatically registered to vote
  • The California NVRA manual dictates a process of voter registration that makes it difficult not to be registered

Continue Reading

The Beauty of Negative Rights

June 16, 2017 by Jeff Carlson, CFA

“The Constitution is a charter of negative rather than positive liberties” – Judge Richard Posner

Yesterday I stumbled across a quote from Senator Rand Paul that someone had posted in a Facebook Group. The quote comes from a Subcommittee Hearing on Healthcare on May 11, 2017. You can find a video of the hearing here. The quote made by Paul starts at 1:37:05. It reads as follows:

“With regard to the idea of whether you have a right to health care, you have realize what that implies. It’s not an abstraction. I’m a physician. That means you have a right to come to my house and conscript me. It means you believe in slavery. It means that you’re going to enslave not only me, but the janitor at my hospital, the person who cleans my office, the assistants who work in my office, the nurses.

Basically, once you imply a belief in a right to someone’s services — do you have a right to plumbing? Do you have a right to water? Do you have right to food? — you’re basically saying you believe in slavery…

I’m a physician in your community and you say you have a right to health care. You have a right to beat down my door with the police, escort me away and force me to take care of you? That’s ultimately what the right to free health care would be.”Continue Reading

The Struggle Revealed

June 14, 2017 by Jeff Carlson, CFA

“A Republic, if you can keep it” – Benjamin Franklin

It finally happened.

Townhalls may never be the same.

There were lots of nice words spoken by Senators appearing in bipartisan press conferences. Not so on Twitter.

140 characters do not lend themselves to nuanced discussion.Continue Reading

James Comey & Questions That Linger

June 12, 2017 by Jeff Carlson, CFA

“If I find out that people were leaking information about our investigation, whether to reporters or private parties, there will be severe consequences.” – James Comey – May 3 2017

James Comey released a surprisingly detailed Opening Statement the day before his infamous hearing. I discuss it here. It was so detailed that many predicted Comey’s actual testimony would prove to be a non-event. That view was not entirely accurate. Comey’s actual testimony proved to be a layered affair. There were the first impressions, then some deeper takeaways – and then further questions. I cover Comey’s testimony here. In it I discuss some serious timeline inconsistencies – and some inconsistencies in how he handled this affair versus the Clinton Criminal Investigation.

Despite the analysis, nagging questions remain. Questions that I do not have immediate answers to.Continue Reading

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Jeff Carlson is a CFA® charterholder.

He worked for 20 years as an analyst and portfolio manager in the High Yield Bond Market. He holds degrees in finance and economics.

He can be found on X (Twitter) at @themarketswork or on Substack at Truth Over News

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