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8.25.2019 -Free Financial Newsletter Bookmark

NASCAR and the other Misguided Nitwits
 
One can probably not conjure up a company image of rough and tumble “outlaws” brewing Moonshine in the mountains, and evading law enforcement, than the people at NASCAR racing. This is an organization which bragged for years that it was born out of bootleggers running Moonshine. Renegades they were, and that’s the brand awareness they preached.

 
But recently NASCAR has been trading in their good ole boy, rough and tumble façade for a more snowflake, unicornish, stance on things. Just like Dicks Sporting goods and Yeti coolers, they’re shying away from being associated with guns.
 
An advertising company was hawking ads for the last 26 races of the season, and after reaching out to several of the gun manufacturers that had previously been sponsors and advertisers at NASCAR, they got an interesting letter on August 19th. This is what it said:
 
We just heard from NASCAR on a number of gun related ads and unfortunately, due a gradual shift in NASCAR’s position on guns, these ads must be edited/changed-especially those that are depicted as assault-style rifles/sniper rifles. NASCAR is still open to some of the less controversial gun accessories, concealed carry, or classes.”
 
Gradual shift on guns? Does NASCAR’s fans know of this gradual shift? Are NASCAR fans going to be happy about this shift? Am I to believe that the very people that go to NASCAR events and watch them on TV, don’t own AR-15’s? Well I don’t. I think NASCAR fans are well stocked with “scary black rifles”
 
Yeti makes good coolers. But they don’t want to be associated with guns. I find that pretty funny, because a lot of the people that would buy an expensive yeti cooler are hunters preserving game. Yet the snowflakes at corporate don’t care, their anti-gun position Trumps their customers every time. It’s one thing if you don’t like guns, but I find it queer that an “outdoor” company that’s undoubtedly sold thousands of coolers to gun owners, wants to distance themselves from gun advertising.
 
I’m also betting that not 1 in 10 of these Social snowflakes, has any clue that it is the American hunter and shooter that has saved the environment and the animals in this country. I’m not just spewing nonsense folks, this is a FACT. All these so called conservationists, all these “animal lovers” have NO CLUE that without the American gunner, they’d be extinct.
 
Ever heard of the Pittman-Roberttson act? No? Most haven’t. I guarantee the snowflakes at Yeti don’t know, nor does the social justice warriors at Dicks sporting goods. Either that, or, they know it but can’t admit it, because it would go against their socialist ideology.
 
In the early 1900s, sportsmen’s organizations and state wildlife agencies-concerned with unprecedented declines of wildlife populations in the United States-urged Congress to pass the Federal Aid in Wildlife Restoration Act. The Act, passed in 1937, designates an excise tax on firearms, ammunition, and archery equipment to be used by states to fund wildlife restoration. Today, the Act is often referred to as the Pittman-Robertson Act (P-R Act) after its two key champions: Senator Key Pittman of Nevada and Congressman Willis Robertson of Virginia.
 
The P-R Act generates funds through an 11 percent excise tax on long guns, ammunition, and archery equipment and a 10 percent excise tax on handguns. The revenue from this tax goes into the Wildlife Restoration Account administered by the U. S. Fish and Wildlife Service (USFWS).
 
Since 1939, the Wildlife Restoration Account has generated over $10 billion, leading to the purchase of approximately 4 million acres   of   land   to   support   wildlife. Moreover,   an additional 40 million acres are being managed for wildlife under agreements with land owners through the use of P-R funds. P-R funds have also been used to support wildlife research, thereby building   scientific capacity and understanding within state agencies.
 
Yes snowflakes, read it. Every gun, every cartridge sold, gets taxed at 10% or 11%, and that money goes straight to environmental causes. Because Americans are so completely stupid that they had turned the umpteen millions of Bison into an endangered species, almost wiped out the entire duck population, and pushed deer to the edge of extinction, it was the GUNNERS themselves that pushed for a solution. They asked to tax themselves.
 
Pittman-Robertson is credited with largely saving the sport of hunting in the country and bringing numerous species back from the brink of extinction. At the time of its enactment, populations of deer had shrunk to such minuscule levels that 11 states had no season on the animals open to sportsmen. Those that did have seasons were very limited. For instance, Missouri’s was just three days long. Today deer hunters in the Show Me State enjoy no less than 122 days between archery and firearm seasons, which began in mid-September and run to mid-January.
 
The Wildlife Restoration Program, authorized under the P-R Act, provides grant funds to state fish and wildlife agencies to develop projects that restore, conserve, manage, and enhance wild birds and mammals and their habitats.
 
But it’s not JUST the P-R, where sportsman are responsible for wildlife. Ever heard of a “Duck Stamp?” The Federal Duck Stamp, formally known as the Migratory Bird Hunting and Conservation Stamp, is an adhesive stamp issued by the United States federal government that must be purchased prior to hunting for migratory waterfowl such as ducks and geese. It is also used to gain entrance to National Wildlife Refuges that normally charge for admission. It is widely seen as a collectable means to raise funds for wetland conservation, with 98% of the proceeds of each sale going to the Migratory Bird Conservation Fund.
 
The fact of the matter is, that without the American sportsman putting an end to Commercial hunting in the United states and literally taxing themselves to pay to restore things, there would not be a deer, turkey, Goose, duck, or elk, outside of a zoo. Again I kid you not. “Market hunters” were just that, commercial hunters that would go out and slaughter anything that moved, and sold it to the hungry American population. Consider this:
 
Around 1880, two “market” hunters bagged 18 elk in the mountains northwest of Denver. They boasted about the kill, which took only 10 minutes. In one season, about that same time, hunters brought 14 wagon-loads of elk, deer and antelope into Denver for sale, for which they got between 7 and 10 cents a pound. The American elk population at that time was estimated to be 10 Million animals.

By the early 1900s America’s elk were all but extinct, In 1910, the U.S. Forest Service estimated there were only between 500 and 1,000 elk in the entire state of Colorado. It was the American Gunner/sports enthusiast and hunter that saved them. They got “market” hunters stopped, and the herds rebounded.
 
My point behind all this, is that these idiots will go around with their stupid signs about saving the environment, and guns are bad, and yet it was the gunner himself that saved a million times more wildlife than any other organization. Not NASCAR, not Yetti coolers, not Dicks sporting goods. Nope, the American gunner did it.
 
How many know that? Not enough. Share the story, it’s important.
 
The Market:
 
The Trade war is heating up. Friday, the Chinese threw their biggest bluff so far, threatening tariffs on 75 billion dollars worth of goods from the US. That knocked the stock market for a loop, and for a while there, we were down 750 points. But there was a problem see, down 750 put the DOW below its 200 day moving average. They couldn’t have that and with just 4 minutes to go, they piled on about 120 points, saving the day.
 
How cute.
 
So, I’m not going to rehash the tit for tat tariff numbers here. We’re upping them on China, China’s retaliating, the rhetoric is growing on both sides. While my best guess is that China desperately needs the American consumer, the leadership can’t be seen as weak at home, especially with millions of Protesters in the streets of Hong Kong every weekend.
 
Now, China’s not stupid. They read our papers and web sites. They know that the biggest areas of concern here in the states is for our farmers and our auto manufacturers. That’s why they’ve placed tariffs on both. They want the American citizen to feel so badly about the “Poor farmers” that Trump backs down.
 
Trump isn’t likely to back down. Both sides need a deal, but neither wants to look weak. China is also hoping that in 2020 Trump loses to one of the socialists running against him. Hence, Trump knows this could go on right through the 2020 elections. Hence, his attacks on the Fed to cut rates.
 
A lot of people are “dissing” the President for calling the fed stupid, and that no other Presidents have tried to push the Fed’s around like he is. But, as you can imagine, I have a slightly different approach to all this. One of the “theories” floating the internet, was that the Feds would hike rates, crush the economy and that’s how they’ll get rid of Trump. Trump knows that, he knows “everyone” has been gunning against him.
 
But Trump also knows, that the economy is NOT as strong as he’s trying to make it sound. So, if a recession is coming, which it is, and the wheels of that recession have been turning for the last 5+ Years, which it has, then Trump has to lay the blame on the Feds.
 
 
How many times over the last 20 years have you seen me say “The Fed’s cannot allow themselves to be seen as the cause of a recession or market melt down?” Many.
 
The Fed’s have the perfect criminal enterprise. A band of non-elected elites, print money out of thin air, “sell” it to our Government and charge them 6% a year in interest. Every 1930’s mobster is envious of their counterfeiting program.
 
So, Job ONE at the fed, is to remain in power. Period. By Trump focusing his belly aching at the Fed, he’s getting a lot of people to question things. I truly believe that Trump would love to dissolve the Fed and return the lordship of our “money” back to the Treasury where it belongs.
 
This is what scares the hell out of the Fed heads. Whether you think the Feds should cut rates, or hike rates doesn’t matter. What matters is that people are finally asking “who are these people that run monetary policy, and why is Trump pounding on them for being stupid?”   All great questions.
 
The Feds ARE going to cut rates. And they’ll cut rates again and again. AND they’ll fire up the QE programs. Because if they don’t, Trump will be on TV, 24/7 suggesting that the “worthless unelected federal reserve, didn’t do the proper things to keep us out of recession, and it’s time we had a discussion about ending their reign.”   The Fed’s can’t allow that. No one’s allowed to pressure them. No one’s allowed to see the man behind the curtain.
 
So they’ll talk tough, but they’ll cut rates. They’ll take us to zero and beyond. They’ll come up with QE4 and 5, they’ll do twists and God knows what. But as the recession rumbles on, they’ll fight back, saying “Hey it wasn’t us, it was Trump and his trade wars that ruined things. We reacted accordingly, but the damage by Trump was just too great.”
 
Do you see where this is going folks? Anyway, the market is a hot mess digesting all this, and it is NOT time to be brave and go all in on anything here. Pay attention to Gold and the miners, they have a good reason to move higher as global economies implode.
 
If we lose the 200 day moving averages for an extended period, this market could roll downhill a long way. But just losing it for a day or so means nothing yet, so don’t get trigger finger trying to go wholesale short in here. On the long side of things, we might bounce some from the 600 point plunge, but I won’t trust it a bit. Quick trades for us right now.
Strap in, it’s going to be quite the ride!

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