I have been getting quite a bit of email asking about the current state of affairs in U.S. politics. Most of the questions are asking how you can discern what is really going on considering the nature of U.S. News these days.
Let me start out by saying as a swing trader it is essential to have some grasp of the reality of the events that are taking place along with what the issues actually are.
If you’re on the left or right side of the equation there are plenty news commentators and websites to choose from to reinforce your already strong beliefs.
Some range from outright conspiracy theories while others diverge from the middle to various degrees. And of course, some are outright false, either through bad reporting or intentional misrepresentation. We are seeing more and more of the last lately.
On the left, of course, you have CNN and MSNBC. While on the right you have Hannity as the leader.
Whats also interesting is that many feel that fox news is taboo as they are so biased. I would agree that there are commentators that are one-sided there. But on the other hand, you have Cris Wallace, Shep Smith who overall tend toward the anti-Trump side. Wallace more toward the middle but Smith you would be hard-pressed to find anyone on CNN or MSNBC with such an extreme Anti Trump Bias as Smith
The point I am making is that it’s not so much the network but the actual person doing the reporting and giving their opinions. In addition, a recent Harvard study showed Fox News the most balanced coverage as about 50 50 pros and against Trump. While most of the other mainstream media had a bias in the neighborhood of over 90%.
So the question is where do you go to be able to get an understanding of the issues and commentary that is not only balance but accurate?
The first rule I have is the person has to have outstanding integrity. That’s a very tough one as these days you cannot find many in the news media that fit that bill.
The polarization of our politics has reached such a level of dysfunction that this has inundated into the media also.
I do quite a bit of reading for the purpose not only of attempting to understand what is going on but also to accurately make investment decisions.
Here are my recommendations:
For the issues today as to what is going on politically:
Neither have a political agenda. Both are long-term democrats. Both are constitutional law experts. And both have impeccable credentials.
If you listen to what they have to say you will have a better understanding of the issues without the political spin.
They are right down the middle, you will not get a left or right bias despite both are lifelong democrats. As far as legal analysis you will find none better.
Now for a left bias and outstanding integrity:
I like to see what Glenn Greenwald has to say on the issues. He keeps up on the facts and the current events. He almost always gives a good account of the issues with reasonable opinions.
For a right bias and outstanding integrity”
His show should be required viewing as he almost always has someone on to debate opposite views.
There are more but you get the drift of what I am saying. It is easy to find people to reinforce your preconceived notion of things. But what good is that?
Now I know from experience that many are going to say, but what about Morning Joe, or Maddow? Hey, for entertainment they can be great. But for an unbiased balance review forget it. Unfortunately, while they are the best known most of the rest are right in that category. All one-sided and in many instances you get completely inaccurate facts. For investment purposed they are worthless if not harmful.
Ihave also been asked whether I am a Democrat or a Republican. My answer is I am neither. I am issue-driven. I am right in the center on most issues as I can usually see both sides of the issue. Very few are black and white as each side would have you believe. The one thing I do have a strong opinion about is the degree of corruption in D.C. has gotten out of control. Much of this is as a result of special interest groups both foreign and abroad buying the influence of our representatives. This is most likely what has contributed to the dysfunction in D.C. unfolding. Its a battle between the special interests, ideologies and the welfare of the American people. Who will win out remains to be seen.
This has become even more important as the political dysfunction is reaching a fever pitch. With the firing of McCabe, our political system is in panic mode.Time is running out as shown by the threats the White House has been receiving by some of the Dems and Republicans.
If your an ideologue on either the left or the right my condolences to you. As you are missing out on one of the most intriguing political dramas unfolding in American history. The stakes could not be higher. You have the presidency at risk vs years in prison for those trying to unseat him.
The point of no return has been crossed at this point. There is no reconciliation between the two sides. Its a winner take all game right now with astonishing repercussions on the U.S.
You can see how far one side will go by just considering that for the first time there is an actual opportunity to denuclearize N. Korea. But, that has not brought the sides closer together for that goal. To the contrary as with every other issue, it has been politicized to the degree that the outcome might be affected. The sad part is no one cares.
Do yourself a favor and at the very least get a good grasp on what reality is these days. If not for your peace of mind but to make good investment decisions. If you do not, it will cost you:)
As far as the markets I will have more on them in the morning but we are moderately oversold right now but not enough for me to consider mean reversion trading. I would need another plunge to the downside to start getting interested!
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