In the 1980 Reagan years, Mitch sellout Mc Connell was a reliable and respected conservative but as the grow Government Democrat Party became successful under the 1st George Bush and Slick Willie then Mc Connell bought into the grow government movement.
All Republicans elected after Sellout McConnell were forced into the grow government movement or they remained forever on the outside. On the outside means relegation to sit on the Post Office Committee rather than most influential Committees such as Ways and Means and Judiciary as a few examples. Party money for reelection efforts becomes impossible to obtain and offered legislation won’t ever see a vote. Republicans forced conscription into the grow government Democrat movement allowed all to grow government by raising tax money on the private sector and by slick finance efforts.
As union membership dwindled, union money to Democrats dried up. Obummer then imposed on Federal agencies 30,000 pages of regulations to allow agencies enormous power over the private sector. It was the MAO plan. Government was for sale as Smithfield was sold to the Chinese, Banks paid up, the IRS imposed additional fees and charges, the EPA confiscated land. Every agency went on a raise money rampage. Then only Democrat party members received favorable govt contracts. Pay the Democrats then expect favorable treatment.
The Committee on Foreign Investment in the United States or CFIUS allowed sale of Smithfield as the largest agricultural company in the United States to sell to the Chinese. CFIUS approved Hilarious sale of Uranium to the Russians. Agency heads all sit on CFIUS and must vote. Without Inspector Generals to monitor the agancies, all CFIUS activity was done secretly.
Then ask who runs markets, the FED every trading day and by understanding FED actions is what allows perfect 24 hour predictions ahead as the Fed imposes its will. Inside the 2 most important functions of life most don’t have a clue how government or markets operate. I find these topics fascinating.
As I review forecasts for 2018, GBP/JPY and EUR/JPY could also use a deep dive correction. 140’s GBP/JPY could be seen easily. Best pairs to view are GBP/CAD, GBP/NZD, GBP/AUD, EUR/AUD, EUR/NZD and EUR/JPY.
The problem with GBP/USD and EUR/USD rangebound is the outlined cross pairs are far to high and in dire need of a deep correction. But EUR/USD and GBP/USD won’t offer assistance to take the pairs lower to their proper locations. EUR/USD for example can’t handle 1.0900’s yet above 1.2000’s faces a massive rough road of resistance.
Proper locations and rangebound commonalities for 2018 means prices are looking at 600 pips roughly either side of current prices.
USD/JPY must breaks are located at 112.42 and 112.01. If 112.45 breaks then longer term look for 108’s.
EUR/USD break points, 1.1729, 1.1808, 1.1841 and falling 5 year at 1.2016.
GBP/USD. Break Points 1.3258 and 1.3229.
GBP/JPY break points 149.06, 148.19 and 153.57. If 149.06 breaks then GBP/JPY falls a long way to 140’s.
EUR/JPY break points 132.26 , 131.86 and 131.55.