Welcome back everyone, it’s Monday. Thank you so much for being here, this is The Live Show with Jason Stapleton broadcasting from the heart of America.
Dow futures showing down 100 points as we get ready to start this week.
Nevertheless, the question is ‘Are we going to see more downside or not?’
Well, the market is sitting at a structure support level at around 16 4 and at that sixteen 4 level is going to be the critical level. The question is ‘Do we continue to see a rally here or do we just see the market reverse over again and make new structural lows?’
My gut tells me this rally is not finished yet, that we're not going to get a one day rally followed by additional decline.
As I’ve said previously, I think that sentiment has somewhat shifted here but I do think that a stronger rally is in order before we see the next leg down. Keep in mind, I am bearish over the long term but here on the shorter term, there is a question as to whether or not this is going to be the tipping point. The structure level at 16 4 has to be respected but since I’m already in the long, I’m in the position, I’m going to let my options play out for a little while here, I have a long time until expiration. So I have a little bit of time.
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So, moving on: Quick Ebola News
First of all, there is no ebola epidemic. Second of all, there is no update. So, that will do it for ebola. It’s still not a threat, still not a concern, still not an epidemic.
Authorities say Michael Brown’s blood found on gun, inside police carhttp://www.washingtonpost.com/politics/authorities-say-michael-browns-blood-found-on-gun-inside-police-car/2014/10/18/577e1a9a-56f2-11e4-ba4b-f6333e2c0453_story.html
We have new evidence in the Michael Brown shooting and what actually transpired when he met the police officer who ultimately fatally shot him. The struggle that went on and the actual back and forth that happened, we now have forensic evidence back from the FBI that gives us an insight into what actually transpired.
Who’s telling the truth and who’s not telling the truth?
Prior to that, that hasn’t really stopped those antipolice advocates and those who are spreading hate and discontent. We didn't really know what happened prior to the FBI report. We had conflicting eyewitness reports, a bunch of speculation and I've always said, wait until the investigations are done and all the pieces are put together.
But that didn't stop Ferguson residents from going out and immediately starting to riot, burning down their own town, destroying their own convenience stores, basically taking the good that existed in their community and burning it to the ground all for the sake of avenging Michael Brown's death when they had no real idea what had actually happened.
To them, it didn't matter. The facts of the case didn't matter. And the facts of the case still don't matter. When we take a look at this new evidence, it's not going to make any difference.
But rest assured, there are those with political leanings who want nothing more than to use Michael Brown to advance a political agenda.
Vest Or Votehttps://www.youtube.com/watch?v=E2ZbHNKd7gQ
Dream Defenders, a liberal group, warns Blacks that if you don't vote, you'll need a bulletproof vest because otherwise you'll get shot by the police.
This is a Dream Defenders ad designed to get Black voters out to the voting booths to vote Democrat because if you vote Republican, you're just voting to get your Black kids killed.
If this is not just despicable, then I don't know what is.
To suggest that if you vote conservative, if you don't vote Democrat, that you're somehow killing Black children is just wrong.
The Black community overwhelming votes Democrat despite the fact that Democrats have not helped them pull themselves out of poverty
The Democrat Party has been on the wrong side of the Black debate since the Civil War. They were against ending slavery, against ending segregation, against desegregation of schools, against nearly every single advance that we've made towards equality.
And now they've swung all the way to the other end where now there needs to be special privileges to be involved.
But let's take a look at where the facts are instead of videos that pulls at your heart strings.
BLOOD ON THE GUN: Michael Brown Was First Shot Inside Darren Wilson’s Police SUVhttp://bearingarms.com/blood-gun-michael-brown-first-shot-inside-darren-wilsons-police-suv/
Michael Brown, a man the size of an NFL lineman, violently robbed a store minutes before he was shot after allegedly attacking a police officer.
According to the New York Times, the FBI’s investigation into the shooting of Ferguson, Missouri strong-arm robbery suspect Michael Brown by police officer Darren Wilson has concluded that there will not be a federal civil rights case. The standard for filing charges in such a case is evidence showing that Wilson willfully violated Brown’s civil rights, and no such evidence exists.
The FBI investigation also revealed forensic evidence that suggests the battle in Wilson’s police vehicle was even more fierce than previously known.
Watch What Happens When a Citizen Pulls Over an Unmarked Cop Car and Tells the Police Officer He’s Breaking the Lawhttp://www.theblaze.com/stories/2014/10/18/watch-what-happens-when-a-citizen-pulls-over-an-unmarked-cop-car-and-tells-the-police-officer-hes-breaking-the-law/
“Hey the reason I stopped you is I saw this car was unmarked,” Seim asks the officer. “Is this a registered unmarked vehicle for undercover work?”
When the officer said it was a patrol car, Seim whipped out his legal knowledge.
“OK, you’re not allowed to have patrol cars that are unmarked, are you aware of that?” he said, before citing the relevant law.
Washington state law allows police to use unmarked vehicles for special undercover work, but not for regular patrols.
I am a huge proponent of holding police officers accountable. There are far too much leniency given to those who have so much power and authority.
This story coming out of Washington state is unnecessary. It presents the wrong image.
But in Michael Brown's case, there is no evidence whatsoever that the cop acted anything other than within the confines of the law and yet still we got people raising hell, demanding the officer be sent to prison.
Socialist Group Pushes for $20 Minimum Wage — There’s Just One Incredibly Ironic Problemhttp://www.theblaze.com/stories/2014/10/17/socialist-group-pushes-for-20-minimum-wage-theres-just-one-tiny-problem/
The Freedom Socialist Party, a group that has urged lawmakers to increase the minimum wage to $20 an hour, faced a chorus of criticism this week from opponents who say it’s hypocritical the organization won't even pay their own employees the amount they deem a fair wage.
“Raise the minimum wage to $20 an hour,” the party’s official 2012 platform advocates. “Provide a guaranteed annual income. Free medical care for all, including reproductive services and abortion.”
Yet, a Craigslist listing uncovered by Reason Magazine lists compensation for a part-time “Web Content Manager” position at $13.00 an hour, noticeably lower than the $20.00 minimum wage the group campaigns for.
I want to actually use this as a teachable moment. I want to try to present you with evidence that's going to empower you with your arguments towards those folks who would say 'we need a $20/hour minimum wage for every single person in America.'
Basically, the Freedom Socialist Party offers utopia. Simply come and join our party and support our drive for utopian society.
Here is my question for the Freedom Socialist Party: If your goal is to provide a guaranteed income to all Americans, why do you even offer a wage at all?
Shouldn't you be required to give a job to anyone who comes to you?
If your platform is to guarantee everybody a job, then shouldn't you have to give somebody a job? And shouldn't you have to pay them whatever that they need?
Now the response to this from the Freedom Socialist Party is that's government's responsibility. The problem is, the government is you. Government is you and I. The government cannot provide one benefit that it does not take or tax from someone else.
What should be happening here is if you're going to say everyone is guaranteed an income and a job, then that means someone has to supply that job.
And this goes to the core tenets of economics. Economics is the study of scarce resources which have alternative uses. It's the study of the cause and effect of how people interact with goods based on supply and demand and ultimate, who makes those decisions.
Does centralized government make those decisions or do individuals make those decisions?
And what causes the greatest amount of wealth and prosperity, what economic conditions provide that?
Because, economics is not about individual wealth, it's about the wealth of an economy. And people who learn how to economize wealth have a greater chance to have more prosperity on the whole than people who do not.
So the question of economics is: how do we best allocate scarce resources?
Where the jobs are: The new blue collarhttp://www.usatoday.com/longform/news/nation/2014/09/30/job-economy-middle-skill-growth-wage-blue-collar/14797413/
Joseph Poole will make more than $100,000 in wages and overtime by the end of the year.
The 21-year-old works in what looks like NASA's mission control, monitoring the manufacturing process at Chevron Phillips petrochemical plant in Houston. Poole didn't get the job with the engineering degree he originally considered. Instead, Poole landed it with a two-year course at a local community college.
"The potential to make just as much money as an engineer, but for half the cost of the education, was here," Poole says. "Just seeing firsthand how things are made is something I really enjoy doing."
By 2017, an estimated 2.5 million new, middle-skill jobs like Poole's are expected to be added to the workforce, accounting for nearly 40% of all job growth, according to a USA TODAY analysis of local data from Economic Modeling Specialists Intl. and CareerBuilder.
Not all pay as much as Poole's, but all pay at least $13 an hour; many pay much more. These jobs require some training but far less school than a bachelor's degree. Technology has given many a makeover, leaving them worlds away from their assembly-line predecessors and challenging the notion that good blue-collar jobs are dead and that the only path to a good career is a four-year degree.
One of Jason's favorite books:
The Richest Man in Babylonhttp://www.amazon.com/The-Richest-Babylon-George-Clason/dp/0451205367http://en.wikipedia.org/wiki/The_Richest_Man_in_Babylon_(book)
Union enrollment plummets for Wisconsin teachers under tough lawhttp://www.foxnews.com/us/2014/10/19/one-third-wisconsin-teachers-have-dropped-union-since-gov-walker-ended/
Teachers in Wisconsin's public schools have learned a major lesson from the state's landmark 2011 law neutering public sector unions, with more than a third dropping out of their labor organization.
Given no choice but to join and pay dues to the Wisconsin Education Association Council (WEAC) for decades, teachers have for the last three years been able to opt out. And that is what tens of thousands have done as a result of Gov. Scott Walker’s Wisconsin Budget Repair Bill, also known as Act 10.
“Given the evidence, it shows that the union's hold is softening," Patrick Wright, vice president of legal affairs for the Mackinac Center for Public Policy, told FoxNews.com
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