Gene Morphis ' View

Attention conservative brethren.  I know there are a number of conservatives who don't want any compromise in the Super Committee, assuming that President Obama has no chance of being re-elected.  I think there are two flaws in that hypothesis.  First if nothing is done, another $1 trillion is added to the deficit.  Second, I think he has a better chance of winning than conservatives are facing.: 1. The economy has added 250,000 jobs in the last 60 days. At that rate 2 million jobs will be added by the election. Still not great, but a nice move in the right direction. 2. He prosecuted the war in Iraq as vigorously as Bush, surprising conservatives. 3. Ditto Afghanistan where he approved a further troop surge. Yes, there can be some whining about how long it took him to decide, but not close to the criticism Lincoln took over many issues in the Civil War, and history treats him kindly. 4. He's been even more aggressive in using Predators than President Bush. ...

Dear Senators Cornyn and Hutchinson: Have you noticed what is going on in Europe recently? Particularly with Greece and Italy? Does it make you think that maybe you should be cutting some spending? You know, real cuts, not reductions in the growth rate of spending. Cuts where total spending is lower than the prior year by a couple of hundred billion. Just asking. Related articles Italy's lower house to vote on austerity measures (cnn.com)

Dear Senator: Have you noticed what is going on in Europe today? Particularly with Greece and Italy? Does it make you think that maybe you should be cutting some spending? You know, real cuts, not reductions in the growth rate of spending. Cuts where total spending is lower than the prior year by a couple of hundred billion. Just asking. Related articles Italy stares into recession abyss (rt.com)

Rick Perry's mental lapse has lead the news. Videos of the CNBC debate showing his inability to recall all the agencies he would close have led news broadcasts across the country. He has my sympathy; more than once I've had a brain freeze as I tried to remember the perfect word or phrase, or, worst of all, someone's name when I saw them. However, the question of eliminating Cabinet-level departments or agencies is actually a serious and important one. When the country was founded, there was the Secretary of State, the Secretary of War, the Secretary of the Treasury, and the Attorney General. That was it. Four individuals reporting to the President. It metastasized into its current form in the twentieth century. While populist thinking would eliminate both the Department of Education and the Department of Energy (both excellent ideas if we are really going to try to repay $15 trillion in debt), I'm now questioning the Department of Housing and Urban Welfare. One thi...

Over the last few months, the NASDAQ market has made a push towards heavy resistance at $59 - 60 on the $QQQ.  At each point, resistance has held and the market has fallen back.  However, momentum seems to be building again with the QQQ's closing at $58.10. From there it seems to me that there is some weaker resistance at $62-63.  A penetration through and there is little resistance for a long way.  I'm holding my QQQ position.