Is Cheney betting on Economic Collapse? (Information Clearing House 7/4/06)

[Renew Deal]

By Mike Whitney

07/04/06 "Information Clearing House" -- -- Wouldn’t you like to know where Dick Cheney puts his money? Then you’d know whether his “deficits don’t matter” claim is just baloney or not.

Well, as it turns out, Kiplinger Magazine ran an article based on Cheney’s financial disclosure statement and, sure enough, found out that the VP is lying to the American people for the umpteenth time. Deficits do matter and Cheney has invested his money accordingly.

The article is called “Cheney’s betting on bad news” and provides an account of where Cheney has socked away more than $25 million. While the figures may be estimates, the investments are not. According to Tom Blackburn of the Palm Beach Post, Cheney has invested heavily in “a fund that specializes in short-term municipal bonds, a tax-exempt money market fund and an inflation protected securities fund. The first two hold up if interest rates rise with inflation. The third is protected against inflation.”

Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar. So, while working class Americans are loosing ground to inflation and rising energy costs, Darth Cheney will be enhancing his wealth in “Old Europe”. As Blackburn sagely notes, “Not all ‘bad news’ is bad for everybody.”

This should put to rest once and for all the foolish notion that the “Bush Economic Plan” is anything more than a scam aimed at looting the public till. The whole deal is intended to shift the nation's wealth from one class to another. It’s also clear that Bush-Cheney couldn’t have carried this off without the tacit approval of the thieves at the Federal Reserve who engineered the low-interest rate boondoggle to put the American people to sleep while they picked their pockets.
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http://www.informationclearinghouse.info/article13851.htm

[selador]

1. i totally agree

there are great ways available to any decent trader to make money in bear markets (whether in dollars or stocks) and bull markets (gold and corn have been phenomenal).

i am hardly a permabear, but the majority of my trading income since christmas has been from intraday and swing shorting the indexes via either DXD , Index Puts, or outright futures shorts.

what cheney is doing here, based on the modicum of information, could best be described more as a hedge than an outright short position.

i've been shorting like a banshee, but INTO strength. people here continaully get bearish at short term bottoms. note for example the doomsday scenarios are usually biggest when all the short term indicators point to a bounce.

there are some PHENOMENAL values out there right now for savvy investors, and some great ways to make money off either direction for traders, but the best time to be solidly bearish was months ago.

[tanyev]

2. K & R

[Ichingcarpenter]

3. I posted this when it came out in 06

Looks like it is coming true, Haliburton hadn't even moved to the middle east yet.

[Selatius]

4. It should be "Emperor Cheney" and "Darth Bush." Cheney is obviously the stronger of the two. nt