1) Washington is staring at the potential of a government shutdown Monday night. This is grim. Congress has approved four temporary spending bills since the end of the government’s fiscal year in September to prevent a shutdown.
The latest the current Congressional session can end is 11:59:59 am on January 3.
In other words, Congress needed to get the President the bill by December 23 to avoid a pocket veto. That’s the “ten-day/Sundays excluded” window.
But Congress adjourning within that “ten day/Sundays excluded” window effectively neuters the possibility of an override attempt.
It’s unclear if the President’s proposed changes to the bill could pass. And, don’t forget that Congress has some responsibility in all of this, too.
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🔷 Rev. Raphael Warnock has become the first Democrat to win a Georgia Senate race in 20 years
The politician spoke to voters via MSNBC this morning
https://t.co/T9oJN2fjmo
Warnock is a pastor at the Ebenezer Baptist Church in Atlanta where civil rights leader Martin Luther King once preached.
He will become Georgia's first Black senator
This blue victory gives the Democrats the chance to regain control of the Senate for at least the first two years of the Biden presidency
"With Biden proposing to reverse President Donald Trump's tax cut, increase the minimum wage, and strengthen oversight on various industries, some might argue that his agenda is not particularly market-friendly," says Vasu Menon, investment strategy director at OCBC Bank
The politician spoke to voters via MSNBC this morning
https://t.co/T9oJN2fjmo
Warnock is a pastor at the Ebenezer Baptist Church in Atlanta where civil rights leader Martin Luther King once preached.
He will become Georgia's first Black senator
This blue victory gives the Democrats the chance to regain control of the Senate for at least the first two years of the Biden presidency
"With Biden proposing to reverse President Donald Trump's tax cut, increase the minimum wage, and strengthen oversight on various industries, some might argue that his agenda is not particularly market-friendly," says Vasu Menon, investment strategy director at OCBC Bank
This is a good piece on fissures within the GOP but I think it mischaracterizes the Trump presidency as “populist” & repeats a story about how conservatives & the GOP expelled the far-right in the mid-1960s that is actually far more complicated. /1
I don’t think the sharp opposition between “hard-edge populism” & “conservative orthodoxy” holds. Many of the Trump administration’s achievements were boilerplate conservatism. Its own website trumpets things like “massive deregulation,” tax cuts, etc. /2
https://t.co/N97v85Bb79
The claim that Buckley and “key GOP politicians banded together to marginalize anti-Communist extremism and conspiracy-mongering” of the JBS has been widely repeated lately but the history is more complicated. /3
This tweet by @ThePlumLineGS citing a paper by @sam_rosenfeld and @daschloz on the "porous" boundary between conservatives, the GOP and the far-right is relevant in this context.
This is a separate point but I find it interesting that Gaetz, like Roy Moore did In his failed Senate campaign, disses McConnell. What are their actual policy differences? MM supported taking health care away from millions, a tax cut for the rich, conservative judges, etc. /5
I don’t think the sharp opposition between “hard-edge populism” & “conservative orthodoxy” holds. Many of the Trump administration’s achievements were boilerplate conservatism. Its own website trumpets things like “massive deregulation,” tax cuts, etc. /2
https://t.co/N97v85Bb79
The claim that Buckley and “key GOP politicians banded together to marginalize anti-Communist extremism and conspiracy-mongering” of the JBS has been widely repeated lately but the history is more complicated. /3
This tweet by @ThePlumLineGS citing a paper by @sam_rosenfeld and @daschloz on the "porous" boundary between conservatives, the GOP and the far-right is relevant in this context.
There's a great paper called "The Long New Right" that tells the story of the GOP/conservative movement's failure to police extremists for the last 50 years.
— Greg Sargent (@ThePlumLineGS) January 28, 2021
It's highly relevant to the insurrection and Marjorie Greene's lunacy.
I summed it up here:https://t.co/DTlzGomy5h pic.twitter.com/Dhc38CDuE2
This is a separate point but I find it interesting that Gaetz, like Roy Moore did In his failed Senate campaign, disses McConnell. What are their actual policy differences? MM supported taking health care away from millions, a tax cut for the rich, conservative judges, etc. /5
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I’m torn on how to approach the idea of luck. I’m the first to admit that I am one of the luckiest people on the planet. To be born into a prosperous American family in 1960 with smart parents is to start life on third base. The odds against my very existence are astronomical.
I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.
In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.
So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.
Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.
Ironies of Luck https://t.co/5BPWGbAxFi
— Morgan Housel (@morganhousel) March 14, 2018
"Luck is the flip side of risk. They are mirrored cousins, driven by the same thing: You are one person in a 7 billion player game, and the accidental impact of other people\u2019s actions can be more consequential than your own."
I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.
In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.
So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.
Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.