I was planning to call this post: THIS is Running Man, whereby the Game-Show-Host-in-Chief will now impose martial law to save the day. But, he beat me to it...
Trump's new election pivot is to become the "law and disorder" president. He needed a new schtick after his China/Hong Kong implosion scheme was hijacked by mass protests. He is now threatening to bring in the U.S. military to quell the protests.
Since the COVID outbreak we have witnessed the wholesale collapse of civil liberties. First featuring a fiat-ordered shutdown, and now featuring nightly curfews. Libertarians are going batshit crazy right now. After all, their own beloved saviour will be the one who completes the authoritarian takeover of the United States. They better than anyone know that the U.S. military was never intended to police the domestic populace. This would be an unprecedented foray into Third World martial law, as I predicted a few months ago.
Meanwhile, Trump just threw Hong Kong under the bus because his threats of military force are precisely what the Hong Kong security bill was threatening last week. No sooner had the high and mighty EU, UK, and Canadian governments criticized China for abuse of power, than Trump does the exact same thing only days later. Do you think these sackless puppet governments will ever criticize Trump? No way. Just as they all pander to Saudi Arabia, they have no problem ignoring civil rights when there is real money on the line.
"Throughout the protests in Hong Kong last year, the US was consistent in its support of people's right to take to the streets and have their voice heard, and that sporadic violence or illegality did not undermine the core demands or legitimacy of the movement.
Facing widespread unrest and public anger at home in the wake of the death of George Floyd, an unarmed black man, at the hands of a police officer in Minneapolis, the reaction from US President Donald Trump appeared markedly different."
It was a response that might not have appeared out of place on the pages of China's own government-controlled newspapers"
The arsenal of hypocrisy is on wide open display. Goodbye Hong Kong, we hardly knew ya.
Jim Cramer who has to find something to say every day to explain away mass insanity, informed us yesterday that the market remains bid because Wall Street has no conscience. All they care about is making money.
No shit.
"At the end of the day, the market has no conscience. Investors are simply trying to make money, and that's why they're crowding into the stay-at-home economy stocks"
"the stay-at-home economy just got a major extension for many investors [and] right or wrong, thoughtless or cerebral, it's worth exploiting."
Of course Wall Street's lack of empathy for protest movements is not any stretch of imagination. However, believing that Hong Kong doesn't matter, China trade tensions don't matter, and indeed U.S. rioting is more reason to buy "stay at home" stocks, is where things get a tad psychopathic. After all, this entire rally has been touted over and over again as the "economic re-opening" rally. So now we are to believe that martial law is the latest catalyst for rally?
Sure.
As true P/E infinity would suggest, there is no bullish case anymore. There are only weak bears getting crushed by momentum algos fed by monetary euthanasia. A big fat ugly bubble further fueled by stay at home speculators rushing into the junkiest stocks using their stimulus money.
It all makes perfect nonsense.
Here we see the stay-at-home bubble going parabolic:
Cyclicals are stalled at a familiar level:
The Dow just closed above the 200 day, the last senior index to do so:
Here are a few of the recent new highs on Cramer's Anarchy 2020 stock list:
Check out Lululemon
Tesla has a double top similar to February. Shorts once again getting annihilated.
Momo Tech looking similar to the last top:
But the real winners this week are gun stocks
Outside is America
