Ninth Circuit Upholds Arizona Illegal Alien Hiring Law
On Monday, March 9, the U.S. Court of Appeals for the Ninth Circuit rejected a request to revisit a September 2008 decision by a three-judge panel that upheld an Arizona employer sanctions law that penalizes employers for hiring illegal workers. Opponents - including business interests that support illegal immigration like the Arizona Contractors Association, the Arizona Chamber of Commerce & Industry and the pro-illegal immigration advocacy group Chicanos Por La Causa - claimed that the Legal Arizona Workers Act violated the U.S. Constitution and federal law. These interest groups claimed that the three-judge panel had wrongly rejected their claims. In refusing to rehear the case, the Ninth Circuit effectively affirmed the panel's earlier decision, which concluded that the Arizona law did not interfere with the federal government's authority to enforce immigration laws and that it did not violate employers' rights.
(Phoenix Business Journal, March 10, 2009 and Maricopa County Attorney's Office.)
Monday, March 16, 2009
THE COMING "DEPRESSFLATION"...AND YOUR MONEY
THE COMING "DEPRESSFLATION"...AND YOUR MONEY
You may recall that, in one of my recent columns, I coined the term "depressflation" to describe the inevitable result of the Democrats' plans to "rescue" the economy.
A "depressflation," I explained, would be like the "stagflation" of the 1970s, only worse: massive inflation, even hyper-inflation, together with Depression-like economic stagnation.
Why is this inevitable? Because with a bi-partisan consensus that deficits are vital in fighting the crisis (or easing the pain) there is no constraint on Obama and his party. The sky is the limit on spending, to the tune of a trillion-plus dollars over the next two years alone.
And there are only two ways to pay for it: (1) printing more money, which causes inflation, and (2) hiking taxes, which kills investment, businesses and jobs.
Then the question will be: When will we realize that government intervention is magnifying, not solving the problems that caused the crisis? When will the patience of the public with Obama's remedies run out?
My guess is that it won't be until 2012 -- or after.
In the meantime, however, there are ways to protect yourself and your family from the coming "depressflation."
It's crucial to understand: Hard times for America does not necessarily mean hard times for you. As a very wise investment expert of my acquaintance, Nicholas Vardy, likes to say, "No matter what the state of financial markets, there is always a strategy out there that can make you money."
Full disclosure: I receive a percentage of each subscription sold, but even if I didn't, I'd want you to know about this amazing service. Nicholas' advice is rock solid. If you check into it, you'll thank me later.
The key, Vardy explains, is to recognize opportunities wherever they may be and, more importantly, detach yourself from old investment themes that no longer work.
Vardy himself, an American based in London, is a master at crafting such cutting-edge investment strategies -- which he then passes on to subscribers to his Global Stock Investor investment newsletter.
So, for instance, back in mid-2007 Vardy was months ahead of the curve in spotting the coming boom in "soft" (agricultural) commodities -- recommending stocks like Canadian fertilizer giant Potash, which shot up quickly in price before coming back down to earth, by which time his subscribers had safely banked profits of 82% in just over three months time.
And that's nothing compared to the magic Vardy performed for his subscribers during these past few months, now on record as some of the worst in Wall Street history.
Consider this: Since October 2008, which wiped out close to $7 trillion in shareholder wealth, Vardy's Global Stock Investor portfolio's open positions are up as much as 18%.
Compared to the 16% decline in the Dow during the same time, that's incredible.
How does Nicholas Vardy do it? If I knew, I'd be in his business, not mine. But I'm sure those countless hours he spends sharing investment ideas with Europe's top money managers has something to do with it -- not to mention his graduate degrees from Stanford and Harvard.
Don't get me wrong: Nicholas Vardy is no elitist snob. Though he makes his "real" money managing money for a few wealthy clients, he also likes to "spread the wealth" -- not through higher taxes (sorry, Obama), but by helping people like you and me make profitable investments.
Let's face it, the next few years will be tough ones for America. But, to repeat, they don't have to be tough ones for you -- if you find and follow sound investment advice like the brilliant investment strategies in Nicholas Vardy's Global Stock Investor. I urge you to give it a try.
Click here to learn more.
http://www.globalstockinvestor.com/visitor.php?offer=358
Sincerely,
Dick Morris
P.S. Right now, for a limited time, you can get a full year of Nicholas Vardy's Global Stock Investor for about the cost of a mid-priced dinner for two. Of course, with all the great investment tips you'll be getting, you'll be able to afford lots of dinners -- high-priced ones at that. Click here to learn more.
http://www.globalstockinvestor.com/visitor.php?offer=358
Go to DickMorris.com to read all of Dick's columns!
You may recall that, in one of my recent columns, I coined the term "depressflation" to describe the inevitable result of the Democrats' plans to "rescue" the economy.
A "depressflation," I explained, would be like the "stagflation" of the 1970s, only worse: massive inflation, even hyper-inflation, together with Depression-like economic stagnation.
Why is this inevitable? Because with a bi-partisan consensus that deficits are vital in fighting the crisis (or easing the pain) there is no constraint on Obama and his party. The sky is the limit on spending, to the tune of a trillion-plus dollars over the next two years alone.
And there are only two ways to pay for it: (1) printing more money, which causes inflation, and (2) hiking taxes, which kills investment, businesses and jobs.
Then the question will be: When will we realize that government intervention is magnifying, not solving the problems that caused the crisis? When will the patience of the public with Obama's remedies run out?
My guess is that it won't be until 2012 -- or after.
In the meantime, however, there are ways to protect yourself and your family from the coming "depressflation."
It's crucial to understand: Hard times for America does not necessarily mean hard times for you. As a very wise investment expert of my acquaintance, Nicholas Vardy, likes to say, "No matter what the state of financial markets, there is always a strategy out there that can make you money."
Full disclosure: I receive a percentage of each subscription sold, but even if I didn't, I'd want you to know about this amazing service. Nicholas' advice is rock solid. If you check into it, you'll thank me later.
The key, Vardy explains, is to recognize opportunities wherever they may be and, more importantly, detach yourself from old investment themes that no longer work.
Vardy himself, an American based in London, is a master at crafting such cutting-edge investment strategies -- which he then passes on to subscribers to his Global Stock Investor investment newsletter.
So, for instance, back in mid-2007 Vardy was months ahead of the curve in spotting the coming boom in "soft" (agricultural) commodities -- recommending stocks like Canadian fertilizer giant Potash, which shot up quickly in price before coming back down to earth, by which time his subscribers had safely banked profits of 82% in just over three months time.
And that's nothing compared to the magic Vardy performed for his subscribers during these past few months, now on record as some of the worst in Wall Street history.
Consider this: Since October 2008, which wiped out close to $7 trillion in shareholder wealth, Vardy's Global Stock Investor portfolio's open positions are up as much as 18%.
Compared to the 16% decline in the Dow during the same time, that's incredible.
How does Nicholas Vardy do it? If I knew, I'd be in his business, not mine. But I'm sure those countless hours he spends sharing investment ideas with Europe's top money managers has something to do with it -- not to mention his graduate degrees from Stanford and Harvard.
Don't get me wrong: Nicholas Vardy is no elitist snob. Though he makes his "real" money managing money for a few wealthy clients, he also likes to "spread the wealth" -- not through higher taxes (sorry, Obama), but by helping people like you and me make profitable investments.
Let's face it, the next few years will be tough ones for America. But, to repeat, they don't have to be tough ones for you -- if you find and follow sound investment advice like the brilliant investment strategies in Nicholas Vardy's Global Stock Investor. I urge you to give it a try.
Click here to learn more.
http://www.globalstockinvestor.com/visitor.php?offer=358
Sincerely,
Dick Morris
P.S. Right now, for a limited time, you can get a full year of Nicholas Vardy's Global Stock Investor for about the cost of a mid-priced dinner for two. Of course, with all the great investment tips you'll be getting, you'll be able to afford lots of dinners -- high-priced ones at that. Click here to learn more.
http://www.globalstockinvestor.com/visitor.php?offer=358
Go to DickMorris.com to read all of Dick's columns!
Morris :does Obamaknow what he is doing?
BOGGLED BAM - CAN PRESIDENT GET JOB DONE?
By DICK MORRIS / EILEEN MCGANN
The furor over the huge federal spending under President Obama - a $1.75 trillion deficit, 13 percent - obscures an even more basic question: Does he know what he is doing?
That is, does he know how to do anything other than spend?
His stimulus package, of course, took no special ability: He left the details to Democrats in Congress. But his two other major initiatives - his banking - and mortgage-relief plans - are both flawed and unlikely to solve their respective problems.
Indeed, they're so wide of the mark as to prompt questions not of Obama's ideology but of his basic competence.
The bank-bailout plan seems to be largely stillborn. Having wished that the private sector would flock to invest in toxic assets if offered the right incentives, the Treasury secretary is still hoping. Crossing his fingers seems to have replaced effective policy in his planning.
To date, no massive infusion of private-sector capital seems in view and Washington is doing little more than writing checks to prop up the failing banks. That doesn't take a genius. But the difficult task of relieving the banks of toxic assets so they can rekindle the flow of loans seems to be beyond the ability of the president and his administration.
Perhaps Obama privately isn't so concerned about the banks or the businesses that need the credit markets restored. Those are Republican interest groups, right? But he surely must want his mortgage-rescue plan to work - the homeowners facing foreclosure tend to be Democratic constituents.
But this plan, too, falls far short of the mark.
Incredibly, it excludes anyone who has lost their job and can't afford to make their payments even if they were to spend 31 percent of their income trying to do so. If you can't come close to affording your mortgage, even if only because of a (hopefully temporary) loss of employment, forget about it: Obama is not going to help you.
Nor will he help you if your mortgage exceeds your home's value. One out of five mortgages now falls into this category - and the continued fall in property values will put more and more homeowners in it. But they can expect no help from Obama's rescue plan.
Why would a liberal be so callous? Why would he leave so many out in the cold? Could it be that the administration simply can't figure out how to help these folks? That the president couldn't devise a counter to his financial advisers, who presumably wanted to exclude these folks?
It was Clinton-era Housing Secretary Henry Cisneros who urged Fannie Mae to spend 42 percent of its money buying mortgages for lower-income people and who suggested that they no longer require down payments. And it was his successor, Andrew Cuomo, who upped the ante to 50 percent of the Fannie Mae portfolio.
After Democrats inveigled people to buy homes they could not afford, how can they justify passing a plan that excludes them from assistance?
It appears that Obama is at sea when it comes to financial policy, economic-recovery planning and credit-rescue efforts. We're stuck not only with a socialist but seemingly an incompetent one.
Go to DickMorris.com to read all of Dick's columns.
Published in the New York Post on March 16, 2009
By DICK MORRIS / EILEEN MCGANN
The furor over the huge federal spending under President Obama - a $1.75 trillion deficit, 13 percent - obscures an even more basic question: Does he know what he is doing?
That is, does he know how to do anything other than spend?
His stimulus package, of course, took no special ability: He left the details to Democrats in Congress. But his two other major initiatives - his banking - and mortgage-relief plans - are both flawed and unlikely to solve their respective problems.
Indeed, they're so wide of the mark as to prompt questions not of Obama's ideology but of his basic competence.
The bank-bailout plan seems to be largely stillborn. Having wished that the private sector would flock to invest in toxic assets if offered the right incentives, the Treasury secretary is still hoping. Crossing his fingers seems to have replaced effective policy in his planning.
To date, no massive infusion of private-sector capital seems in view and Washington is doing little more than writing checks to prop up the failing banks. That doesn't take a genius. But the difficult task of relieving the banks of toxic assets so they can rekindle the flow of loans seems to be beyond the ability of the president and his administration.
Perhaps Obama privately isn't so concerned about the banks or the businesses that need the credit markets restored. Those are Republican interest groups, right? But he surely must want his mortgage-rescue plan to work - the homeowners facing foreclosure tend to be Democratic constituents.
But this plan, too, falls far short of the mark.
Incredibly, it excludes anyone who has lost their job and can't afford to make their payments even if they were to spend 31 percent of their income trying to do so. If you can't come close to affording your mortgage, even if only because of a (hopefully temporary) loss of employment, forget about it: Obama is not going to help you.
Nor will he help you if your mortgage exceeds your home's value. One out of five mortgages now falls into this category - and the continued fall in property values will put more and more homeowners in it. But they can expect no help from Obama's rescue plan.
Why would a liberal be so callous? Why would he leave so many out in the cold? Could it be that the administration simply can't figure out how to help these folks? That the president couldn't devise a counter to his financial advisers, who presumably wanted to exclude these folks?
It was Clinton-era Housing Secretary Henry Cisneros who urged Fannie Mae to spend 42 percent of its money buying mortgages for lower-income people and who suggested that they no longer require down payments. And it was his successor, Andrew Cuomo, who upped the ante to 50 percent of the Fannie Mae portfolio.
After Democrats inveigled people to buy homes they could not afford, how can they justify passing a plan that excludes them from assistance?
It appears that Obama is at sea when it comes to financial policy, economic-recovery planning and credit-rescue efforts. We're stuck not only with a socialist but seemingly an incompetent one.
Go to DickMorris.com to read all of Dick's columns.
Published in the New York Post on March 16, 2009
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