It's now up to global markets to do what the Banana Republican party should have done long ago - impeach and remove Trump. Mike Shedlock shares the ClownTopian view, there is "Nothing In The Christmas Stocking For Impeachment". Of course, nothing could be further from the truth. What is set to explode out of the Christmas stocking is three years of accumulated corruption, fraud, generational theft, and non-stop lying on a scale never before seen in U.S. history. All widely ignored by a society of corporate automatons fully desensitized to corruption. Now featuring a $1 trillion FULLY monetized deficit, direct deposited to offshore bank accounts - what Trump has been demanding all along. The pinnacle of U.S. corruption. And ironically the coup de grace for the MAGA Kingdom, a massive monetary heroin overdose. This era proves that democracy no longer works when half the country embraces corruption.
History will say that Trump's Super Idiocracy followed their game show host to the very end, until his corruption exploded in their faces. And NOT ONE of them saw it coming. All true believers in rampant criminality and non-stop lying. And of course, free money.
Truly fantastic brainwashing. Biblical in scale and impact. And of course timing.
As I wrote last week, Fed monetization of Trump's deficit is sending risk assets into the parabolic stratosphere, from where they will rollover and explode. Led by Tech stocks.
But don't take my word for it.
It's no coincidence that the largest cap Tech stocks are the ones continually making new highs. They are the epicenter of the index super bubble.
Recipients of the largest amount of inbound dumb money, totally regardless of (over) valuation:
Apple is among the stocks expected to "benefit" from last week's trade deal, meaning it won't get hit with new tariffs.
Similarly with semiconductors, apparently the trade war was merely suppressing the end stage Tech blowoff top.
Which is now well underway:
Tesla, one year of non-stop short-covering later:
The top performing stock of the year is up another 75% TODAY:
Outside of Tech, the remaining sectors are three wave corrective.
Which portends third wave down across the board, while Tech explodes like Y2K.
Not only is Pharma three wave corrective, it's symmetrical to the left shoulder.
Banks never confirmed the all time high, nor did asset managers:
Trucking/Transports never confirmed the all time high
Small caps never confirmed the all time high
Rest of the world, never confirmed the all time high
The Nikkei has the exact same three wave pattern as last year. And is now symmetrical to the left shoulder:
Homebuilders never confirmed
The U.S. population has grown ~65% since 1970:
In summary, the only stocks making new all time highs are bubble Tech stocks.
What we also see is that buffoonish over-confidence is rampant. Why, because we now live in a society that places its trust in game show hosts, rather than trusting facts and reality.
And there is only one way that can end. Which is is extraordinarily spectactularly.
And of course, entirely "unforeseen".
