Dave McCormick for Senate

[TonyF]

I saw some reports that he rents a home in CT. He does have 7 kids, a couple are still in high school, rental is where his family stays. Like it or not, when your are wealthy you can have multiple homes. Must be he wants to keep his kids in the same high school as many would.

The carpetbagger moniker is irrelevant to me.

My issue is his hedge fund background in conflict with his "China-decoupling" campaign issue.

The only relevance to his residence in CT is my assumption that it is a matter of convenience for his wife who likely commutes to her job at Goldman Sachs in NYC. Her relevance to this topic is that she works for a large investment bank who are no less responsible than hedge funds with respect to China's economic, political, and military ascendancy over the last 30 years.

[Jim8300]

The carpetbagger moniker is irrelevant to me.

My issue is his hedge fund background in conflict with his "China-decoupling" campaign issue.

The only relevance to his residence in CT is my assumption that it is a matter of convenience for his wife who likely commutes to her job at Goldman Sachs in NYC. Her relevance to this topic is that she works for a large investment bank who are no less responsible than hedge funds with respect to China's economic, political, and military ascendancy over the last 30 years.

Many mutual funds have some investments in China as well as many other parts of the world. Bridgewater's 2021's assent management total was 123 Billion and 2.93 billion was fund assets in China, 2.38%.

McCormick is much better for PA than Casey ever was. Pro 2nd and for freedom where Casey is not. Everyone gets one vote, at least that is how it is supposed to work. Make your choice and cast your vote for the candidate you believe will represent you best. I know who I am voting for.

I have known Dave since he was in high school. He dated my neighbor's sister, she is like a little sister to me. He was a decent guy back then and still is. I know his parents, spoke with his father for some time at Dave's first rally in Lehigh Valley.

[TonyF]

Many mutual funds have some investments in China as well as many other parts of the world. Bridgewater's 2021's assent management total was 123 Billion and 2.93 billion was fund assets in China, 2.38%.

McCormick is much better for PA than Casey ever was. Pro 2nd and for freedom where Casey is not. Everyone gets one vote, at least that is how it is supposed to work. Make your choice and cast your vote for the candidate you believe will represent you best. I know who I am voting for.

I have known Dave since he was in high school. He dated my neighbor's sister, she is like a little sister to me. He was a decent guy back then and still is. I know his parents, spoke with his father for some time at Dave's first rally in Lehigh Valley.

I have no reason to doubt your opinion of him and honestly, it really doesn't matter whether he is a saint or a sinner. It's about the industry he worked in and who he will ultimately choose to represent meaning us, or his former hedge fund colleagues and other corporate interests. A vote by Mr. McCormick against a gun control bill that doesn't have a snowball's chance in hell of passing will not make up for voting for corporate interests at the expense of everyone else.

Just so we're clear, I am not a socialist. I believe in capitalism practiced with a moral compass. Winston Churchill once said that democracy is the worst form of government except for all the others. I use the same type of analogy about capitalism as the premier economic system. But it must have "guard rails". No more Gordon Gecko "I create nothing, I own", or wrecking Blue Star Airlines "because it's wreckable".

For example, much controversy surrounded Trump's corporate tax rate cuts and part of the debate was whether to allow corporations to use the windfall to buy back stock. I'd take it one step further. I would compel corprorate America to "apply for" a lower tax rate on the condition that the windfall MUST be used for capital investment here in America. And not acquisitions through "financial engineering".

And that $2.93 billion bridgewater invested in China doesn't reflect the total cumulative amount they've invested overseas rather than here in America over the course of several decades. And of course neither he nor bridgewater did anything illegal.

However, it doesn't take a rocket scientist to calculate the damage the hedge fund industry has done to lower and middle income Americans by taking American investment capital and redirecting it off shore. The lions share of lower and middle income jobs in America today are in the service industry as opposed to good paying manufacturing jobs.

And 0% interest rates (cheap capital) since the 2008 financial meltdown that only recently abated because of the Fed's rate hikes trying to get inflation under control did nothing to help middle America in those intervening years save for low interest rates on home mortgages. But prior to the rate hikes we were seeing a huge uptick in hedge funds and private equity purchasing residential homes. I wonder why?

Nobody is talking about the fact that the commercial real estate market is about to implode. I wonder who is going to have to pay for that bailout?

Just think of how many American jobs bridgewater's $2.93 billion dollars of investment capital would create. Think of the billions in aggregate that hedge funds and private equity have off shored over the last 30 years and do the math re: number of American jobs.

But you're right about one thing, bridgewater is small potatoes compared to firms like blackrock, state street, and vanguard. I've said it before and I'll say it again, private enterprise hasn't wielded this much economic and political power since the British East India Company.

The reality is that the threat from China's economic and military ascendancy is far greater than any of Sen. Casey's gun control votes in the past 30 years.

Tell you what, invite Mr. McCormick to respond to this thread. I give you my word I will be nothing but respectful.

Rant off.

[JenniferG]

There's not a single person running for national office today that is thinking of the American people. They are running for office to enrich themselves and their donors and to increase the power of the one world deep state.

[TonyF]

"Merchants have no country," wrote Jefferson, "the very ground they stand on does not constitute so strong an attachment as that from which they draw their gains."

Jefferson was talking about people like Mr. McCormick. And I'm sorry, but the fact that he served our country in the armed forces in no way compensates for the economic damage that he and other hedge fund managers have wrought on the middle class.

[TonyF]

Sorry. Double Post #35.

[DonBiase]

And here I thought the objective was for the R to be beat the D

It IS!!!

[DonBiase]

I*ll vote for a rattlesnake before I ever vote for Fitzpatrick again! One time was enough.

Fitz is in the wrong Party.

[JenniferG]

Fitz is in the wrong Party.

There's only one party, their party and it has nothing to do with the American people.

[kp15460]

There's not a single person running for national office today that is thinking of the American people. They are running for office to enrich themselves and their donors and to increase the power of the one world deep state.

Exactly. Republicans at this point are controlled opposition.