Huge Week for Tax Bill

Investor’s first read – Daily edge before the open
DJIA: 23,539
S&P 500: 2,587
Nasdaq  Comp.:6,764
Russell 2000:1,494
Monday,  Nov. 6, 2017   9:11 a.m.
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TAX CUTS

      Bloomberg’s Sahil Kapur  reported today that the House tax-writing committee begins debate today on the Republican proposed tax overhaul starting a make or break week.  However, revisions will be allowed in committee only, not on the House floor, excluding input from non-committee House members by Nov. 13. The concern is changes made after release from committee could unravel the whole bill.
      Senate majority leader, Chuck Shumer,  told  Kapur he feels Republicans are ashamed of the bill, that it is like a dead fish – the more it hangs out in the sunlight the stinkier it gets.
      Senate Republicans are preparing the release of their own tax bill, which is reportedly to have different provisions and provoke  serious debate. Release is possible by Friday.
       Much of the stock market’s 20.9% surge since Election Day has been driven by the Street’s expectation of large corporate tax cuts in addition to deregulation and a big spend on the infrastructure and or defense.
Q3 EARNINGS GROWTH
The latest Factset earnings projections with 81% of the S&P 500 reporting now stand at +5.9% for Q3 up from a Q3 projection of +3.0% on Sept. 30. These projections change weekly. Most likely the final figure will be higher.  Be careful here, these numbers change frequently.  Q3’s strength was driven by energy, up sharply from low numbers a year ago, Information Technology (Semiconductor, Internet Software, Technology Hardware, Storage and Peripherals, Software and  IT Services.  For all of 2017, Factset projects a gain of 10.4% for Q4 and  gain of 9.5% for all of 2017.
 The S&P 500’s P/E for earnings 12 months ahead is 18 versus an average P/E of 14.1 over 10 years. That’s extreme, so be careful.
TODAY:

      I have been calling this market risky for much of the year, and have been wrong – nothing bad has happened, though the market has been significantly over priced throughout the year based on historical precedent .
      This is classic bull market momentum, feeding on itself, institutions scrambling to put money to work, having to buy immediately after taking profits.
      At some point it will be over, but few will exit in time.  That’s when the economy can’t look better and opportunities in stocks appear unlimited.  Bull markets have one thing in common – they end when few expect them to end.
      The S&P 500 has notched up relentlessly since June driven by hopes of a massive corporate tax cut, but also by better than expected Q2 and Q3 earnings. A firming in European economies has also helped.
       The latter two should not cause a problem intermediate-term, but failure to pass a tax cut would.
        So far, the Street is indifferent to the dire prospects of a complete implosion of the Trump administration in face of Special Counsel Robert Mueller’s investigation, more arrests pending.

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SUPPORT “today”: DJIA:23,493; S&P 500:2,596; Nasdaq Comp.:6,763
RESISTANCE “today” DJIA:23,576; S&P 500:2,596;Nasdaq Comp.:6,769

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POLITICAL/STOCK MARKET
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Commerce Secretary, Wilbur Ross failed to disclose
his one-third interest in a shipping company, Navigator Holdings.  The problem is  it has ties to a Russian energy company controlled by Vladimir Putin’s son-in-law and members of Putin’s inner circle.
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      Paul Manafort and associate and Trump campaign aide, Rick Gates, were indicted Monday and pleaded not guilty to twelve counts, including conspiracy against the U.S., conspiracy to launder money, unregistered agent of foreign principal, false and misleading  Foreign Agent Registration Act, false statements, and seven counts of failure to file reports of foreign bank  and financial accounts.
      According to the Daily Beast, Gates is now working for Tom Barrack, a wealthy Trump supporter who led the presidential inaugural committee. The Beast reports that Gates is not liked by Trump, but accompanies Barrack when he visits Trump at the White House.  Gates joined the lobbying firm, Davis Manafort in 2006 when the firm had a client, Russian oligarch Oleg Deripaska, who had close ties to Vladimir Putin. In 2016, Deripaska accused Gates and Manafort of taking $19 million intended for investments.  Manafort and Gates joined the Trump campaign in 2016, all this according to the Daily Beast’s article June 14, 2017.
Biggest Story of the Day:
      The New Republic reports that former Trump campaign aide, George Papadopoulos pleaded guilty on October 5 to one count of lying to the FBI about his interactions with “foreign nationals, who he thought  were connected with senior Russian government officials.  The New Republic notes this “plea” suggests he is cooperating with Mueller.
     Reason.com reports Papadoppulos  met with an unnamed professor  in March 2016 before assuming the role as foreign policy adviser to Trump. The professor claimed to have “dirt” on Hillary Clinton, including thousands of emails. He then shared the information with the Trump campaign.

      The plea links the Trump campaign  with attempts to deal with the Russian government.  He is considered a “proactive cooperator,” which means he took an active role for months in obtaining information, possibly wearing a wire. This could be a BIG story, he may have some top Trump people on tape.
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TRUMP TO FIRE MUELLER ?        If President Trump wants to fire Special Counsel Robert Mueller, he would first have to fire  Rod Rosenstein, Deputy Attorney General – but….
      
Obviously,  firing Mueller would smack of  “consciousness of guilt,” which  could lead to impeachment proceedings by the House, and/or increase pressure for Trump to resign, but may be necessary.  With Rosenstein out of the way,  associate attorney general, Rachel Brand, a conservative nominated and confirmed by the Senate in February, would take over. If she refuses to fire Mueller, Dana Boente, U.S. attorney general for the Eastern District of Virginia would have taken over, but he has now announced  plans to give up his position, which handles high-profile national security, espionage and leak cases. Upon confirmation  he will be replaced by Boeing vice president  and assistant general counsel, John Demers.  Does this mean Rosenstein will be fired and Brand resign, because she won’t fire Mueller, but Trump nominee, Demers will ? While Brand is a highly competent conservative attorney who supported Sen. Cruz in 2016, firing Mueller may not be something she wants to be part of, and she may have let that be known.  This case stands to eclipse Watergate where President Nixon tried to fire special prosecutor Archibald Cox but Attorney General, Elliot Richardson and two top deputies refused to follow the directive,  and were fired.  Next in line was Robert Bork, a conservative who fired Cox, but it may have cost Bork a chance at appointment to the U.S. Supreme Court later in his career.
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TRUMP’S PARDON POWER
    
The President has the power to grant conditional pardons; to commute sentences; remit fines and forfeitures; and grant amnesty. This power can be exercised at any time after the offense has been committed, before conviction of after. Pardons cannot be limited by or controlled by legislative action. (US Legal.com).
     The President cannot pardon people for “state” crimes, and it is doubtful he can pardon himself.
      Can the Mueller investigation survive Mueller’s firing ?

Slate.com’s July 21 article, “Trump can’t Escape the States,” says “YES.”

1-A state [NY] could hire Mueller and team.
2-State attorneys general could use their quo warranto power to investigate Trump’s organization for fraud and money laundering from Russian sources.
3-A Congressional committee (Senate Intelligence Committee) could hire Mueller or create a Joint select Committee.
4-Congress could pass a new veto-proof independent counsel statute.
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I received this alert Tuesday from Marc T. Liu urging his readers not to be distracted from Trump’s charades. My takeaway here is while the nation watches the buffoonery in the Oval Office, the rape and pillage is underway in Congress.
1. HR 861 to Terminate the Environmental Protection Agency (Like to breathe? This one is not for you.)

2. HR 610 – Vouchers for Public Education (which may end free public education as we know it)

3. HR 899 to Terminate the Department of Education (which may lead to greater disparity between states but nobody who uses public education ever moves so it's all good)

4. HR 69 to Repeal the Rule Protecting Wildlife (nobody likes nature anyway, right?)

5. HR 370 to Repeal the Affordable Care Act (didn't we already try this umpteen times?)

6. HR 354 to De-fund Planned Parenthood (because exactly none of your tax dollars go toward abortion services)

7. HR 785 – National "Right to Work" (this one is actually a 'Right to fire you whenever your boss feels like it" law, and it would effectively end unions)

8. HR 83 – Mobilizing Against Sanctuary Cities Bill (California should just secede now and take all its money)

9. HR 147 to Criminalize Abortion (“Prenatal Nondiscrimination Act”) (because these private decisions should be made by your legislator and employer)

10. HR 808 to Impose Sanctions Against Iran (even though they are in compliance with the agreement according to those in the know)”
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THE GREAT AMERICAN EXPERIMENT UNDER SEIGE:  Not since the Civil War has the spirit and future of our nation been at such great risk, from within.  This  administration, Congress and U.S. Supreme Court is surgically dismembering  efforts over many years to ensure the safety  and well being of “all” Americans.
     The sooner, Americans recognize these are not genuine Republican conservatives, but extremists determined dismantle that which has been achieved over the years and replace it with “their” brand  of a  quasi-fascist state.  Ben Franklin was right when asked what kind of government  the Founding Fathers had given us.  “A Republic, if you can keep it,” was his response.
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STUMP TRUMP: Bill Palmer, Palmer report.com. has a novel idea how Jeff Flake, Bob Corker and John McCain can prevent President Trump and destructive Congress from dismembering our Republic further. All three change registrations to Independent and caucus with the Democrats giving it a 51 – 49 majority. This would bump Mitch McConnell out of Majority Leader and replace the position with Chuck Schumer.
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House Republicans now investigating FBI’s and DOJ’s 2016 handling of Clinton’s private email server. Really ? 
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MY FEAR:  Based on what I am seeing in Trump’s bizarre, dangerous, un-American behavior, a ditto-head, spineless  Republican Congress, and public too busy to be bothered,  I am afraid our country will have to hit bottom before our Republic can be resuscitated.  Nothing good can come from relentless lies, racism, and efforts to gut checks and balances and dismantle all the progress achieved over the years.  Looks like anarchy and ultimately a quasi-fascist government several years from now including civil unrest. This is the opportunity the extremist right has been waiting for, and they are wasting no time taking us down a dark road.
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A DAFT TWERP:  Just in from Veuer  – President Trump is a ‘daft twerp’ according to Winston Churchill’s grandson, a conservative member of Parliament. The Brits consider a “twerp” as a silly, insignificant or annoying person, and “daft” as   foolish. Let’s see if the bust of Winston in Trump’s office goes the way of so many of his original administration.
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OBAMACARE   RESCUE DEAD ! Republican Senator Lamar Alexander and Democrat Senator Patty Murray announced a bipartisan breakthrough to shore up ACA that would revive federal subsidies for health insurers. 
      President Trump was supportive Tuesday, then turned negative Wednesday, referring to cost-sharing reduction payments (CSR) as “bailouts” for insurers.
     The attempt by the senators to stabilize ACA has also attracted the wrath of conservative Congressmen.  House speaker, Paul Ryan, does not plan to bring the bill to the floor, conservative groups, Freedom Works, Heritage Action and Club for Growth oppose it.

      How can anyone with ACA coverage know where they stand,  how can insurance companies make a decision on premiums ?
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1,318 FALSE or MISLEADING CLAIMS (LIES) by President Trump since being sworn in as President, January 20, 263 days ago. The tally is kept by the Washington Post’s Fact Checker, which breaks all lies down into 24 categories. Please, someone wake me up, tell me this is not happening….and reassure me Americans aren’t in denial.
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ADD ANOTHER LIE TO THE 1,318 referred to above.  Yesterday, Trump touted tax cuts for the middle class in Pennsylvania, saying the typical American household would get a $4,000 pay raise, and “it could be a lot more than that.”  Not mentioned is the savings would be over an eight year period, $500 a year.
     The Tax Policy Center (TPC) claims tax reform as we know it today heavily favors the rich, boosting after-tax income for the top 1% by 8.5% on average, while the bottom 95% would get a boost of 1.2%
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WRECK NAFTA ?  Bloomberg’s “The Editors” seems to think so, pointing to the disruption of long-established supply chains that would raise costs, and increase US imports.  “The evidence is clear, Nafta has helped all its members, including the U.S., achieve greater efficiency and higher living standards,” Bloomberg notes, adding undermining it or causing its collapse would  cause enormous disruption for businesses and labor pools in all three  countries.
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HOW MANY HURRICANES does it take to convince Republicans our climate is changing for the worse ?  If you guessed 4, you were wrong.  Try 40.  Monday EPA Administrator Scott Pruitt announced the U.S. withdrawal from the President Obama’s clean power plan.  In another giant step backward, clearly not for the benefit of mankind, Pruitt wants incentives for the wind industry removed, saying he would “let them stand on their own and compete against coal natural gas and other sources.”    Hope I wake up from this bad dream – soon.
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TRUMP WANTS ANYONE WHO DOESN’T STAND FOR THE NATIONAL ANTHEM TO BE “FIRED”   ?
Personally, I would find another way of expressing my 1st Amendment opinion, like here in this blog, but I think not standing for the National Anthem IS NOWHERE NEARLY AS UN-AMERICAN AS TAKING  5 (five) DEFERRMENTS TO AVOID MILITARY SERVICE, WHICH IS WHAT TRUMP DID DURING THE VIETNAM WAR ERA.  Deplorable !
      Senator John McCain,
a war here, indirectly criticized Trump later Oct. 23rd,  referring to people who found a doctor who would ‘find” a bone spur leading to deferment from military service.
      Other un-American activities Trump champions are using the Presidency to divide and polarize  Americans against Americans, to foment racial and gender prejudice, to endorse violence, and to destabilize a world that is struggling to peacefully cope with a host of issues, none the least of which is more WAR !
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Republicans, in lockstep with the nation’s most powerful lobby, the NRA, are prepared to vote on the bill to take gun silencers off the list of prohibited items.  The Sportsman’s Heritage and Recreational Enhancement Act (SHARE) would vastly reduce procedures needed to purchase devices that when attached to a hand gun would reduce the noise to a spfft.
       What’s next on the Republican agenda – legalized murder ?
       The Republican party will take a pass on any legislation to outlaw “bump stocks,” the device used to convert a semi-automatic assault rifle to an illegal fully automatic, enabling the Las Vegas gunman to max his murder of  persons attending the Harvest Festival.  Bump stock sales have exploded, prices doubled.  
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 AMERICANS ARE TOO SCARED to have the courage to do the right thing.   If not outwardly scared, Americans are subconsciously scared. Its origin is difficult to pinpoint, but I’d say the U.S. involvement in the Vietnam War in the late 1960s and early 1970’s was a start. That’s when confidence in our government began to crumble as protests against the War escalated. The horrors of war were brought into every living room, hundreds of thousands of protesters took to the street.  Families were divided by “for” and “against” the war.  “Like it, or leave it” was the pro-war patriot mantra.
     President Nixon’s Watergate woes and resignation ahead of impeachment proceedings loped off a little more trust in politicians. This, combined with the OPEC oil embargo resulted in a 16-month recession and 50% drop in the S&P 500. 
     Probably, the biggest jolt came on September 11, 2001 with the terrorist attack on the New York City Trade Towers and the Pentagon.  Lies about Iraq’s weapons of mass destruction got us into the Iraq War, another discredit for authority in our nation’s highest office. 
      The Great Recession (2007 – 2009) and stock market’s 50% crash was yet another jolt from which many never recovered.  Now you have President Trump, an unpredictable narcissist with 1,000 lies in eight months to his credit. Oh, and the legitimacy of his presidency challenged by investigations of collusion with Russia to bombard American voters with fake news about rival candidate Hillary Clinton and who knows what in key electoral college states Michigan, Wisconsin and Pennsylvania.
       White Americans are seeing too many people of color on TV, in sports, in schools in their neighborhoods, in their police force, military.  It’s fine if a black man scores a touchdown for their alma mater, just don’t run for office or beat out their child in school activities, or them for a job.
        Get used to it Republican bigot, you can deport a whole bunch of people of color, gerrymander their vote, disrespect them, but they are hungry for achievement and want to eat your lunch, like it or not.  Bigotry is un-American, and if you know what Christianity is really about bigotry is un-Christian. 

       SMALL WONDER AMERICANS FEEL THE NEED FOR AN ARSENAL IN THEIR HOME, FOR THE RIGHT TO “CARRY” A PIECE EVERYWHERE, INCLUDING BARS, EATERIES, PLAYGROUNDS, PARKS.   Americans are so scared, even sensible measures designed to make people safer are rejected.
       If the wanton murder of 20 six-year olds in 2012 in Newtown, Connecticut didn’t spark an outrage, nothing will. Some whackos claim it didn’t happen, not to my surprise, some believed them.
       This was a defining incident in America.  Americans too freaking scared and intimidated by the NRA to be upset by the son of a gun-nut murdering  children. Shame !  The NRA exploited the situation for their own benefit, as Americans watched. Again, SHAME !
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WOULD ANYONE WANT their spouse to lie repeatedly ?, their child ?, mother ?, father ?, minister ?, child’s teacher ?,  coach ?, employer ?.  IF NOT, why would they support President Trump who is on record with telling4.5 lies per day, 1,000 lies since his inauguration on January 20 ?
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CRIMINAL CHARGES: The Palmer report.com reports on a Sept. 27 MSNBC Brian Williams interview with George W. Bush, former Asst. Atty. General, Jimmy Gurule, who lists criminal charges he expects will be levied on Trump team members, without mentioning names. Included are obstruction of justice, violations of Computer Fraud and Abuse Act, violations of Federal Campaign Act, IRS tax laws, and possibly money laundering. Only Congress can put President Trump on trial, but Muller can ask a grand jury to name Trump as an unindicted co-conspirator, which is what happened to President Nixon in the Watergate scandal.
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      HUGE MISTAKE ! In my opinion the Trump presidency is a HUGE mistake, and when you make huge mistakes, you pay a huge price. It’s coming and it isn’t going to be pretty.
      In time, I believe we will learn that the Trump team either colluded or enabled Russia’s meddling with our election. Ballot boxes are not fool proof, either.
       Evidence is mounting to indicate the biggest political/business scandal ever will become news, with a lot of Trump people taking a big hit.
       Expect Trump to attempt to pardon anyone he wants, including himself. It’s a way out of facing responsibility very much like dodging the draft. Like when he justified his numerous bankruptcies, saying he only used U.S. laws to his advantage.  Well, “pardons” are his prerogative, in many, not all cases. He would take advantage of whatever loophole to avoid consequences, sort of like dodging the draft, or did I already say that ?
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TAX REFORM BENEFITTING WEALTHY AS WELL AS TRUMP ?  Depends on who you ask. Trump says  he wont’ benefit  – Add that to his 1,000 lies that have been documented since his inauguration.  Everything I read indicates the little guy gets screwed.  But isn’t it the little guy/girl who is responsible for his election to the Presidency.  Tough break guys, and girls – next time leave your confirmation bias at the door and vote your interest !
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IS PRESIDENT TRUMP BROKE ? Bill Palmer, Palmerreport.com thinks so.  Why else would he hide his tax return ?
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TAX REFORM  – “Potholes and sinkholes”*
      Trump campaigned in  Missouri recently for  tax reform, including middle-class tax cuts,  and a simpler tax code. Few specifics are mentioned. The border-adjusted tax is off the table. The mortgage, charity and retirement deductions are safe. The big question is whether the tax cuts would be temporary or permanent. If th latter, the cuts may not increase the deficit.
      An August 4 – 9  Bloomberg poll of economists reveals 28 of 39 polled expect Congress to pass tax cut legislation by November 2018. Unfortunately this action is not expected to add more than  0.2 percentage points to the GDP, and that growth is forecast  to only slightly exceed  that this year’s 2.1 percent, this forecast coming from 71 economists.  Worse yet, 2019 is projected to fall back to the 2 percent level. Referring to a corporate tax rate for developed nations of 24%, Trump says…”We have no choice….we must lower our taxes.
       Facts from mic.com: In 2016 the Government Accounting Office (GAO) found at least two-thirds of U.S. corporations did not pay federal income tax between 2006 and 2012.  One-fifth of America’s largest profitable corporations didn’t pay any income tax in 2012.
      Another study released earlier this year found the effective tax rate for consistently profitable Fortune 500 companies is 21.2%
      All told, U.S. corporations pay slightly less  in overall taxes than companies  in comparable countries.
      This begs the question of how much impact would  corporate tax cuts have on the S&P 500.       
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Trump, Bannon Gone By 2019  (Investor’s first read:  3/21/2017)
      Right winger and Breitbart grad, Sebastian Gorka is now gone,  Gorka’s  exit closely follows the departure of Steve Bannon, another  Breitfart grad,  hopefully leading to the firing  of Stephen Miller, a brash, caustic right wing extremist and Breitbart supporter  cuddler. 

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WAR – North Korea
      Sen. Lindsey Graham says a U.S. military strike of N. Korea is possible,* that we cannot allow “this madman [Kim Jong-un] to have a missile to hit America.” His Tuesday, Aug 1, interview on the Today Show, follows N. Korea’s ICBM test days ago. Graham also said the Chinese  can stop such an attack. While such a war would take place on North Korean soil, South Korea  would incur huge casualties from N. Korean artillery.
OBSERVATION: Since January, I have warned Trump would put the U.S. on a war footing (see below) for political reasons, namely the mid-terms. Now I am convinced it is front burner because the Meuller investigations are  closing in.  
      Nuclear deterrence has been effective since the 1950s, for the obvious reasons.  The countries with the largest nuclear arsenals  and estimated warheads include United States (7,500), Russia (7,200), France (300), China (250), UK (215), Pakistan (110), India (100),Israel (80).
       The uncertainty of war would JOLT the market, especially if it disrupted  trade alliances. Reportedly, it would only take 33 minutes for a ballistic missile to reach the U.S.. If detonated high over the center of the U.S., it would cause an electromagnetic pulse (EMP) which would shut down “everything”  A-to-Z indefinitely.
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TRUMP – EARLY STAGE DEMENTIA ?  
Don’t know. Clearly he has personality disorder (Narcissism), but the question is being asked more and more with references to speech, use of words, disorientation, irritability, memory loss, late night tweets, confusion, paranoia.

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TRUMP looking for a “Get Out Of Jail Free Card if the Feds close in?”
    Why not, he dodged military service with 5 deferments  during the Vietnam era (1964 – 1970).
     Reportedly, he has asked advisers about his power to pardon family members and himself  relating to Mueller’s investigation.
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W HAT HAPPENS WHEN THE INVESTIGATION IS COMPLETED ? If the Special Counselor  concludes it is “necessary and appropriate” he is authorized to prosecute federal crimes arising out of the investigation, which he does after submitting a report to the attorney general explaining his reasons.

REASONS NEEDED TO FIRE MUELLER:  Misconduct,  dereliction of duty, incapacity, conflict of interest, good cause (??), violation of Department policies.
WOULD MUELLER BE REPLACED ? Unclear. If the Democrats controlled Congress they could appoint another Special Counselor
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  “Connect the Dots.” This investigation is open-ended
       Nigel Farage – President Trump- Jeffrey Sessions – Robert Mercer – Cambridge Analytics – Bannon- Carter Page – Kushner (Jared and Ivanka) – Eric Prince – Donald, Jr.  and Eric Trump – Wilbur Ross –  Michael Cohen – Ezra Cohen Watnick – Michael Flynn – JD Gordon  –  Christopher Steele – Michael Caputo -Breitbart News – Roger Stone – Julian Assange – Paul Manafort – Rick Gates – Jill Stein – Sam Clovis –  Kellyanne and George Conway –Dana Rohrabacher – Bill Browder – Peter W. Smith (deceased: suicide), Paul Behrends – Boris Epshteyn, Ike Kaveladze, and  Russia’s alfa Group – Felix Sater – Rob Goldstone – alfa Group – Emin Agalarov – Sergey Gorkov –  Sergey Kislyak, ambassador to the U.S., Natalia Veselnitskaya, Oleg Deripaska all connect directly or indirectly to the Trump/Russia investigation and some have a connection to Brexit, as well.
      According to the “Observer,” Mercer’s Cambridge Analytica was connected with Canada’s AggregateIQ through an intellectual property agreement and worked together on the Brexit referendum. Aggregate is also a data mining company. While Mercer was a big supporter of Trump, there is no known connection between AggregateIQ and Trump’s campaign staff.

       The Palmer Report.com  recently reported that Peter W. Smith (recent suicide) sought to collude with Russian hackers stealing emails from Trump’s opposition while claiming to be working with Michael Flynn.

       Additionally, IMHO, Vice President Mike Pence simply had to be aware of what was happening in the campaign, but is being shielded because he is the second in command if  President Trump is impeached and convicted  or forced to resign. Stephen Miller, Joseph E. Schmitz may be of interest to the FBI for information they possess relating to the FBI investigation.
      According to CNN Politics,  Marc Kasowitz  represented Trump for personal and business matters for years. Worth noting, Kasowitz is defending Russian bank, OJSC Sberbank in U.S. court, as well as a Russian billionaire, Oleg Deripaska, who has close ties with the Kremlin.
       As of July 21, Kasowitz’s is no longer Trump’s personal attorney   
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     REMOVING TRUMP FROM  OFFICE

Can Section 4 of the 25th Amendment, U.S. Constitution – Remove Trump ?
      It’s a stretch. 
The key for his removal is ”that he is unable to discharge the powers and duties of his office.”  Section 4 mentions nothing  that he is unfit, delusional, unbalanced, crazy,  impulsive, irrational, impaired, sociopathic, psychopathic, narcissistic.
      That would be the threshold that would have to be crossed if Trump is removed from office via Section 4 of the 25th Amendment of the U.S. Constitution. There is no precedent

      It isn’t just Democrats, liberals, moderates and reasonable people who find Trump caustic, and dangerous, conservatives like George Will, David Brooks and Ross Douthart are also urging his removal.
      First, there are four ways to get rid of Trump – death, resignation, impeachment and Section 4 of the 25th Amendment.
      The procedure employing the 25th Amendment requires the Vice President and the majority of the cabinet of 15 (8) to vote to remove the president. They would submit their declaration in writing to the President pro tempore ( Sen. Orrin Hatch) and Speaker of the House (Paul Ryan) that the president is unable to discharge the powers and duties of his office, and the Vice President will immediately assume to office as acting president.
      However, the president may contend the move by submitting his own letter to the President pro tempore and Speaker of the House, that he believes he is capable of performing his duties, in which case he will resume the office of presidency.
       The Vice President and Cabinet members may then resubmit their declaration at which point Congress would vote within 48 hours if in session. If not, Congress  will act within 21 days where a two-thirds vote would be required to remove  him.  
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IMPEACHMENT
      A  Consult/Politico poll shows 43% of Americans want Congress to begin procedures for the impeachment of President Trump.

      The U.S. Constitution  enables Congress to remove a president for “treason, bribery, or other high crimes and misdemeanors.” Intitially, the House votes on one or more articles of impeachment- if a majority vote is reached, he is impeached.  BUT, impeachment only means indictment. The Senate holds a trial overseen by the chief justice and Supreme Court. A group of House members serve as prosecutors and the Senate as jurors. If two-thirds of the senators find the president guilty, he is removed from office and the vice president takes over.

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Note: Source of weekly economic calendar and good recap of indicators: mam.econoday.com.
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George Brooks
Investor’s first read
A Game-On Analysis, LLC publication
Brooks007read@aol.com
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Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk.

 

 

 

 

 

 

 

 

 

 

 

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