"We the people, in order to form a more perfect union…"
The Daily Show
Get More: Daily Show Full Episodes,The Daily Show on Facebook,Daily Show Video Archive
"Representatives shall be determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons… When the right to vote is denied to any of the male inhabitants of such State, being twenty-one years of age, and citizens of the United States, or in any way abridged, except for participation in rebellion, or other crime, the basis of representation therein shall be reduced in the proportion which the number of such male citizens shall bear to the whole number of male citizens twenty-one years of age in such State."
On that basis, it seems to me, that Texas should be losing about 10% of the Congresspeople next year – as they have seen fit to exclude close to 1M of their citizens from being eligible to vote.
Of course Texas is already being punished by plunging crude prices as oil hit $75.84 overnight and gasoline prices fell back to $2.06. Low prices at the pump are bound to put consumers in a better mood but, in Texas, a lot of those consumers are in the oil industry or in towns dominated by the oil industry and that industry is in BIG TROUBLE with oil below $80.
It's not just oil that's dropping, copper is off 4% this morning, barely holding $3.01 as there is NOTHING to indicate any rise in demand for materials in our weakening Global Economy.
Nonetheless, Corporate Profits in the US are up 10% this year and, whether it's the result of FREE MONEY pumped in by the Central Banks or spending cutbacks that ultimately damage the economy or finanical engineering like stock buybacks that artificially inflate apparent earnings by decreasing the number of shares or, even if it's just good old inflation creeping into the pricing – who cares as long as they are making money?
…
You must login to see all of Phil's posts. To read the rest of this article now, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, additional member comments, and other members-only features - Subscribe to Phil's Stock World by clicking here.
To signup for a free trial membership, click here.
Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!
