Flip-flopper-in-chief - News and Current Events | futures.io
futures.io futures trading

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

Started:February 7th, 2012 (07:50 PM) by kbit Views / Replies:313 / 4
Last Reply:February 8th, 2012 (12:43 AM) Attachments:0

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread


Old February 7th, 2012, 07:50 PM   #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,839 since Nov 2010
Thanks: 3,275 given, 3,321 received


It’s election season, and you know what that means: President Obama has changed his mind about something.
This time the commander-in-chief has flip-flopped on the subject of super PACs, with the White House now saying that they will support campaign contributions made by wealthy corporations.

He called them a “threat to Democrats” and a “threat to democracy” barely a year ago. But now 16 months after he had those harsh words for the corporate sponsorship of political campaigns, US President Barack Obama is changing his stance. As the November elections come closer day by day, the president will now be in favor of supporters who make donations to outside committees that will back him as he runs for reelection.

A Supreme Court decision in 2010 made it legal for outside organizations to raise funds for candidates seeking office. Since then, super Pacs, or super Political Action Committees, have materialized left and right.

Well, they mostly materialized on the right.

President Obama had by-and-large discredited the court ruling and warned that US elections would be “bankrolled by America's most powerful interests” and insisted that he would not support them. Now Jim Messina, the manager of Mr. Obama’s re-election campaign, says that the deep pockets being purchased by Republican Party candidates leaves the current administration with little choice.

Republican committees have managed to bring in tens of millions of dollars in anticipation of the November presidential election, and while the incumbent did not seem concerned, his stance has now changed.

“Due to unlimited and unprecedented super Pac spending, we may have no spending advantage (as we did in 2008) and could in fact get outspent,” writes Messina in a recent email to top Democrat donors. “I thought this might help you put the other side’s efforts into some context as you talk to friends and supporters about why we need their help and we need it now.”

“We’re not going to fight this fight with one hand tied behind our back,” Messina adds in an interview with The New York Times. “With so much at stake, we can’t allow for two sets of rules. Democrats can’t be unilaterally disarmed.”
Also at stake, however, is what’s left of the president’s reputation.

While his change in stance might be a call to arms in preparation for November, it is certainly also the latest chapter in an ongoing series of flip-flopping by way of the commander-in-chief. The president has back-tracked on promises before, insisting on opening up “a new era of responsibility” during his inaugural address, but has since changed his stance on countless issues.

There’s the broken promise of closing Guantanamo and the vow to veto the NDAA that he later rescinded, not to mention his failing to initiate a number of the promises of hope and change that fueled his 2008 campaign.

Broken promises aside though, the latest flip-flop out of the White House might be more than just another change of heart from Obama. Recent polls have put the current president neck-and-neck with Republican Party contenders Mitt Romney and Ron Paul, and with tens of millions of dollars going towards GOP-geared campaigns, corporate sponsorship might be the best bet for Barack Obama as he readies for November.

Priorities USA Action, one of the largest of Democratic-minded super Pacs, has brought in $19 million so far this campaign season. The largest Republican super Pacs, by comparison, have doubled that. American Crossroads, a Republican-aligned super Pac aided by former George W Bush adviser Karl Rove expects to pull in hundreds of millions of dollars by November.

Flip-flopper-in-chief — RT

Reply With Quote

Old February 7th, 2012, 07:52 PM   #2 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,839 since Nov 2010
Thanks: 3,275 given, 3,321 received

Do I even have to say anything ?........

Reply With Quote

Old February 7th, 2012, 09:33 PM   #3 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 45,447 since Jun 2009
Thanks: 28,848 given, 79,603 received

He should lead by example.

He should also call out every Congressman who is against eliminating this entirely from our system. The government is supposed to represent the people. Not the corporations. The CEO of the corporation gets 1 vote. The employees of the corporation get 1 vote each. That is the way it is supposed to work.

It is supposed to be equal. How many of America's population can compete with "buying votes" from corporations and the wealthiest Americans with the way it is currently setup?


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

Old February 7th, 2012, 09:57 PM   #4 (permalink)
Elite Member
desert CA
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
Posts: 1,994 since Jul 2011
Thanks: 2,171 given, 1,498 received

It's all about getting re-elected and campaigning. That's what Obama's best at. I'm sick and disgusted by all these ads which claim to be not endorsed by any candidate yet is a drive by shooting down of a rival candidate. The constitution keeps getting eroded and all of the candidates (except maybe Ron Paul) and Obama have priorities on the election and politics and their rich supporters and PACs.

Reply With Quote

Old February 8th, 2012, 12:43 AM   #5 (permalink)
Elite Member
Taipei Taiwan
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Optimus
Favorite Futures: TW
Posts: 691 since Jun 2009
Thanks: 430 given, 432 received

Futures Edge on FIO

How much money do you need to trade futures successfully?

I think it would be un realistic to expect one side not to use Super PAC's while the other side does. Money plays too big of a part in campaigns and I think most of the voting public does not understand what is going on to make much of a fuss about it. I think Colbert and his Super Pac have done an amazingly funny job explaining Super Pac's to the average collage student.

Some congress people have tried to repeal / overturn Citizens United Citizens United Going Down? Democrats Introduce Constitutional Amendment To Overturn Ruling but I doubt it will work.

I think after this election, there may be more of an impetus to pass something. Given how the Romney Super Pacs have outspent the other campaigns and how much Super Pacs are going to play in the general election, maybe they will do something to protect themselves ( congressmen ) from ever larger Super Pacs.

Math. A gateway drug to reality.
Reply With Quote


futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > Flip-flopper-in-chief

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
No Way Europe Will Hold It Together: Investment Chief Quick Summary News and Current Events 0 December 7th, 2011 06:00 AM
Fed Chief Still Moves Markets, But Not the Way He Planned Quick Summary News and Current Events 0 October 3rd, 2011 05:00 PM
Way to flip chart pairs in ninja? nirajkrishna Traders Hideout 4 April 15th, 2011 01:03 PM
New GM Chief Akerson Known as a Pragmatic Leader Quick Summary News and Current Events 0 August 13th, 2010 12:20 AM
EOTPRO's "Flip a Coin" Webinar Big Mike Vendors and Product Reviews 4 May 26th, 2010 03:33 AM

All times are GMT -4. The time now is 06:46 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-28 in 0.10 seconds with 19 queries on phoenix via your IP