GoLocalProv | Sports | Kevin Stacom: The Clutch Gene

GoLocalProv | Sports | Kevin Stacom: The Clutch Gene: As all college basketball programs across the country, including our local favorites, begin to settle down to assess their newly acquired NIL pieces, and plan how to incorporate them with existing players remaining in the program along with whatever new recruits obtained from the newly graduated High School ranks, the...

Corruption in small town America and the rise of narcissism ...Narragansett Rhode Island

         I have always been outspoken about local Government mismanagement and corruption here in Rhode Island. It became self-evident early on after having left NYC and distancing myself from the World Trade tragedy that this beautiful setting in Narragansett , Rhode Island was infested with Boss Hogg type politics and a "know-a-guy" culture. I was from a  NYC trading floor where bullying and abusive behavior was called out and the perpetrators had two choices they either owned it or changed it. They could not hide. 

         Having never been politically active, I spoke with a couple of councilmen about the situation and they explained the whole system of favors and potential retribution in town . I was appalled and even critical of them for not doing more. They shrugged and said "Why don't you run?" . This is the genesis of the name of my blog. 

         I did run . First for Town Coucil. Then for State Senate . Then for Congress. Then for State Treasurer.   My message was individual rights, integrity, fiscal transparency, and accountability. TAll of which was handed down from my parents and regularly from my father who was incredibly honest, famously productive and humble. I didn't absorb the humility part.   I guess as a trader and as an athlete , I was very competitive and aggressive. You had to be .  This blog is about Narragansett and Rhode Island and some correctable flaws amidst a beautiful State.   I abhor liars, especially self-serving ones like many politicians. So being naive and still struggling with my own perception of the failures surrounding our Governemeet Surveilance of terrorism preceding September 11 ,2001 which altered my life forever, I set out to change Rhode Island and particularly Narragansett.

to be continued

CRT : Our efforts to address these very concerning efforts to brainwash our kids

 

The Southeastern Legal Foundation and Kimberly Hermann help Chris Rufo. 

      " critics say these types of materials are a form of indoctrination that violate federal law and the Constitution. Deemar is specifically accusing the district of violating the 14th Amendment's Equal Protection Clause and Title VI, which prohibits discrimination at federally-funded educational institutions. Her attorney, Southeastern Legal Foundation General Counsel Kimberly Hermann, told Fox News that Deemar was only seeking $1.00 in damages with a focus on obtaining both a declaratory judgement and injunction. 

"By vowing to define its teachers and students solely by their race, District 65 promotes and reinforces a view of race essentialism that divides Americans into groups based solely on their skin color," said Hermann. "District 65 teaches its teachers and students that their whole identity comes from the color of their skin. It teaches them to hate each other. It teaches them not only how to be racist, but that they should be racist. This is illegal, wrong, and must be stopped."

https://www.newsmaxtv.com/Shows/Cortes-and-Pellegrino/vid/1_3xmhr9fs

https://www.slfliberty.org

https://www.foxnews.com/politics/legal-coalition-critical-race-theory

In the Dugout .. Mike Stenhouse Rhode Island Center for Freedom and Prosperity

 I am an enthusiastic Board Member of RICFP  where we do our best in this deeply blue state to engage and inform citizens about issues in Rhode Island. Here is the April 8 version discussing our new Governor Dan McKee. Topics  Green New Deal and  COVID policy. 

https://www.youtube.com/watch?v=nJc29U04ZeM&t=293s

Did you know that wide open Texas and Florida  mortality rates are lower than Rhode Island under Gina Raimondo's "science based" tyranny? RI mortality rates per capita are 50% higher than Texas and 60% higher than Florida.

Providence Pension Fund underperforms in 2020 and funding has deteriorated. What happens in a bear Market?

          Renaissance Institutional Fund is Providence Pension fund biggest single investment. Many other investors across the nation have redeemed . What is Elorza doing? Providence pension fund returned 6.2% in 2020 vs S&P 500 gain of 18.4%. In a year of extraordinary returns Providence missed its 7% required rate of Return and the Funding ratio of 22.7% is the worst in the nation.

https://seekingalpha.com/news/3659306-renaissance-hedge-funds-hit-with-5b-in-redemptions

        Providence Pension fund and all other municipal and State pension fund have benefited greatly from the tail winds of strong Equity and Bond Markets over the last Decade. Despite those tail winds  Providence funding ratio has declined. How could that be? Simple the cost of providing benefits and COLA  are now heading up again and in Rhode Island the State Legislature has passed an "evergreen law" allowing unions to at the very worst maintain their current wages and benefits. They have literally outlawed cuts in pay or benefits. Prior to that, the  Rhode Island legislature indemnified bond holders from losses by guaranteeing first lien status of municipal tax revenue.  

Rhode Island’s New Municipal Debt Law

The new RI law amends existing statutes related to the indebtedness of towns and cities.  The amendments grant debt service appropriation a first lien on cities’ ad valorem taxes and general fund revenues.  This virtually guarantees bond holders will receive their payments. 

      Providence can only restructure contracts in Bankruptcy or Municipal receivership which is under the power of the Governor and Revenue Director. Hopefully new Governor Dan McKee will address the Providence time bomb instead of ignoring it like Raimondo and Elorza have. 

      If we have a bear market, as described by Stanley Druckenmiller, Providence finances and pension fund  will implode and end up in the lap of State Taxpayers. 

       https://www.youtube.com/watch?v=K_u2AI7ZWAk

I got hurt shorting Gamestop and now I want to be Lieutenant Governor of the State of Rhode Island

Democratizing manipulation Groupies 

 As  I have written before I believe we are living in an altered State. A state of flux and human mania exemplified by Trumpism, the capital surge, and Wall Streets bizarre  behavior. This interview gives my R-rated version of my opinions on GameStop, Short squeezes and systemic risk. My view is deeply affected by my 47 years in the Options trading business. 41 of those years were  as a professional  including as a floor trader , proprietary trader , specialist, Managing director  partner ,founder, and hedge fund founder and manager. Because almost no one will read this or care to, this blog serves as a record for me and my friends and family. My professional friends if they ever read it will recognize my tone as consistent over the 40 years that they know me. If others read this and listen to the interview they may judge me as crazy. Whatever , I am comfortable  , badly wound financially from the Pandemic . March 2020 was our worst month ever and then we were  whipsawed on the upside in  what I believe was a series of short squeezes to the upside. Overstock, NIO, Hertz, Kodak ,Game Stop and Tilray. Pat Ford is a friend and Libertarian  . I have flirted with libertarianism often. I think he conducts a good interview. 

here's the video 

https://www.youtube.com/watch?fbclid=IwAR2nF8XFoc2YnkM2Hafbl0ESjUjKU-eeMtlkkvJoyCzIYpaVTYSyX2W6WA8&v=mUu5uFpF5j4&feature=youtu.be

Fed induced speculation mutates into reddit mobs and Game Stop squeeze

 Insanity in the Option Market place belies the rhetoric supporting $1.9 trillion in Fiscal stimulus. I would venture to guess everyone of these option speculators have gotten stimulus checks and are large percentage are using that money to fuel  market mania. The question is if this is an unintended consequence of the 2008 to 2021 Fed induced liquidity or is it a welcome outcome of Federal Reserve manipulation of investor sentiment. The Fed policy is clearly driven by the Stock Market performance and almost nothing else matters. 

game stopper cultist

"YOU Do not understand what GameStop has in the market and how it’s valued has hurt short term sellers. I don’t trust long term investors because they miss opportunities like Tesla, Amazon, peloton, etc. Making 3% a year is for fools. If your going to gamble go all the way. Money isn’t real anyway right ?"

https://www.marketwatch.com/story/reddit-moderator-slams-wall-street-fat-cats-as-gamestop-surge-continues-they-hate-that-you-played-by-the-rules-and-still-won-11611600048

    The craziness also exists in the SPAC market and IPO markets  which regularly move 50% a day. there are hundreds of these stocks flooding the markets yet the speculative fervor overwhelms the offerings regularly producing 100 % gains on day one. People are getting incredibly rich at the same time as other Americans surviving on unemployment and on the verge of eviction. Perhaps the Government should hand out GameStop shares rather than U.S. dollars which only seem top go down in value. 

Here is an update as one of the Redditors responds to warnings 

Michael G Riley

 YOU Do not understand what GameStop has in the market and how it’s valued has hurt short term sellers. I don’t trust long term investors because they miss opportunities like Tesla, Amazon, peloton, etc. Making 3% a year is for fools. If your going to gamble go all the way. Money isn’t real anyway right ?

3 pm January 26  GME last $137 up $60 

 

mgr