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Wiretaps, Russians & the New York Times

March 9, 2017 by Jeff Carlson, CFA

A Paranoid is someone who has all the facts – William Burroughs

When the election ended the Left’s claims grew louder.

The Russians hacked the election.

Except they didn’t.

When Donald trump assumed the Presidency, the Left’s claims grew deafening.

President Trump colluded with the Russians.

Except he didn’t.

It all seems a bit unreal.

The truth might be even crazier.Continue Reading

The Left’s Russian Hypocrisy

March 4, 2017 by Jeff Carlson, CFA

The current uproar over Russian influence in the election process has reached a crescendo with the furor over Jeff Sessions’ testimony. Which is odd, given the Left’s silence on so many similar – and larger – issues.

Attorney General Jeff Session has been accused by Democrats of lying under oath and perjury. Here is the pertinent portion of the transcript containing the question posed by Franken and the answer by Sessions.Continue Reading

The Department of Justice’s Slush Fund

March 2, 2017 by Jeff Carlson, CFA

News of a Department of Justice “Slush Fund” has been making headlines recently.

Unfortunately, this is not new information – the activity goes back to 2012 and can be traced to The Residential Mortgage-Backed Securities Working Group (Working Group), created in 2012 by none other than Obama’s first Attorney General, Eric Holder. Let’s just say that I view Mr. Holder as “ethically-challenged”.

The Working Group was created within the Justice Department in 2012 as a means of prosecution and punishment for those perceived to be responsible for the financial crisis of 2008. At its formation Mr. Holder made the following statement:Continue Reading

A Destination-Based Tax & the Border Adjustment

February 28, 2017 by Jeff Carlson, CFA

The United States utilizes a “Worldwide” tax code – and that’s a problem.

Most other nations use a “Territorial” tax system – companies are taxed by the country where the economic activity takes place. This territorial system is better suited to the multi-national landscape companies operate in today – which is why all other G-7 nations use the “territorial” approach. Under a territorial system, a multi-national company pays taxes to each of the nations it does business in according to the amount of economic activity done in each nation’s borders and according to the particular nation’s tax rate. This has the obvious advantage of placing all companies operating within a given nation on the same economic footing from a tax burden perspective. Under our current Worldwide system, U.S. corporations are taxed at the same 35% federal tax rate – less taxes paid to foreign governments and allowed deductibles – no matter where their profits are made.Continue Reading

The Globalism Threat – Socialism’s New World Order

February 24, 2017 by Jeff Carlson, CFA

Capitalism – a social system based on the principle of individual rights. Politically, it is the system of laissez-faire (freedom). Legally it is a system of objective laws (rule of law as opposed to rule of man). Economically, when such freedom is applied to the sphere of production its result is the free market. – capitalism.org

And so I give to you my favorite definition of Capitalism. It encapsulates much of everything that is great about Capitalism – individual rights, freedom, rule of law, free markets. It stands defiantly against the definition of Globalism. Read on.

I’ve always found it ironic that Liberals have feared global rule by a handful of giant corporations yet they would willingly turn over leadership to a handful of elitist politicians in the name of Globalism. But it makes more sense if you view Globalism for what it is – a political goal with Marxist origins.Continue Reading

Financial Market Truths & Liberal Outrage

February 19, 2017 by Jeff Carlson, CFA

“But we have to pass the bill so that you can find out what’s in it” – Nancy Pelosi

“You don’t get to hold the entire economy, the entire country, hostage because you don’t like the outcome of the election” – Elizabeth Warren

“There are many things that can be done administratively by the IRS and other government agencies” to silence groups that obstruct Democratic policies – Chuck Schumer

House Minority Leader Nancy Pelosi held a press conference on Friday to berate President Trump for “accomplishing nothing” in his first 4 weeks as President. I could only shake my head – and hope that she keeps talking.

Here’s a quick list – in no particular order – of President Trump’s accomplishments so far:Continue Reading

Pendleton Act – Federal Employment for Life

February 17, 2017 by Jeff Carlson, CFA

The Spoils System has been around as long as politics – to the victor goes the spoils – political appointments. President George Washington attempted to push back on this effect during his two terms as President. He utilized “fitness of character” as the primary litmus test for government employees. Washington’s efforts were noble in practice, but under subsequent Presidencies many desired positions in government were simply being paid for through bribes. The election of Andrew Jackson brought about a reversal, as Jackson employed a completely partisan approach to staffing. The stated motivation was to ensure a more representative cross section of government employees – not just the rich and powerful. And so the Spoils System became the official staffing policy in our government. And the level of corruption was exactly the same as before – and perhaps even intensified.Continue Reading

The Goal of Political Correctness

February 16, 2017 by Jeff Carlson, CFA

“The point of Political Correctness is not and has never been merely about any of the items that it imposes, but about the imposition itself.” – Angelo M. Codevilla

“The conversations that are the most curative are simultaneously the ones that are most difficult and most dangerous.” – Dr. Jordan Peterson

“What we’re learning from Trump is that a lot of people have been biting their lips, but not changing their minds.” – William Galston

What is Political Correctness?

A simple question with complicated answers.Continue Reading

Gramsci, Alinsky & the Left

February 11, 2017 by Jeff Carlson, CFA

“Socialism will triumph by first capturing the culture via infiltration of schools, universities, churches and the media by transforming the consciousness of society” – Antonio Gramsci

“The old world is dying, and the new world struggles to be born; now is the time of monsters” – Antonio Gramsci

“Every State is a dictatorship” – Antonio Gramsci

Our nation has been pushed inexorably towards the left for decades. Has this been caused by a simple evolutionary process – a normal outcome of a wealthy and successful society falling into middle age? Or does it have some deeper cause – a more active agent of change?

This question seems to of particular relevance today as the Cultural Wars have broken open – Progressives in near-hysteria, protests ongoing. Watching these events unfold I am reminded of a simple truth.

The present always has a past.Continue Reading

Milo & Liberals’ War on Truth

February 8, 2017 by Jeff Carlson, CFA

Who is Milo?

Milo Yiannopoulos is a gay 33 year-old British speaker, journalist, author and senior editor of Breitbart News. You can think of him as a Republican-Libertarian swirl with frosted tips.

He has been labeled as alt-right, a white nationalist, anti-Semitic and generally racist by the Left. He has mocked Libertarians as “people who have given up looking for an answer”.

CNN hates him.

So do Leftists, Progressives, Social Justice Warriors and Neo-Nazis. And all of Mainstream Media.

He was banned by Twitter. He is the self-described “most fabulous supervillain on the internet”.

In reality Milo is none of these things. Milo is a shake-things-up conservative draped in common-sense ideas, with a disdain for PC speech, a defiance of labels, a hatred for identity politics and a love of unpopular truths. And gay. With frosted hair.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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