Tuesday, September 1, 2020

Waiting For This MAGA Circle Jerk To Explode

MAGA is without question the most over-lubricated circle jerk in human history...

These are by far the most bizarre and insane times in my 52 year lifetime. Those people who are going on with their lives in the normal fashion are the ones who have gone truly insane. Now we see how important consistent belief, routine, and habits are to human sanity, no matter how dire the circumstances. Adaptation never enters the picture for most people. Today's ubiquitous consumption zombies have no answers because they have no questions. There is literally ZERO introspection in this society. Non-existent historical perspective. Those of us who question the new norms of insanity are the ones who are deemed on the fringe. People STILL don't understand why I don't believe in this gong show aka. "the system".

Orlov: License To Kill:
"As the endgame approaches, those still nominally in charge of the collapsing empire resort to all sorts of desperate measures—all except one: they will refuse to ever consider the fact that their imperial superpower is at an end, and that they should change their ways accordingly. George Orwell once offered an excellent explanation for this phenomenon: as the imperial end-game approaches, it becomes a matter of imperial self-preservation to breed a special-purpose ruling class—one that is incapable of understanding that the end-game is approaching. Because, you see, if they had an inkling of what's going on, they wouldn't take their jobs seriously enough to keep the game going for as long as possible."

I have questioned this bonfire of the sanities for over a decade straight, during the continual descent into madness. And here we are.

For those who don't remember, The Running Man was a Stephen King book turned movie about a game show host president who used violent spectacle to keep the domestic populace under control.

Sound familiar? Trump is an expert at inciting BOTH the alt-left and alt-right to violent anarchy. The anger of these two camps feeds off each other in an escalating conflagaration heading into this existential election. 

No one with a brain in the Democrat party sees Biden as any type of saviour. There is no question he is not competent to be president. Nevertheless by comparison to Trump he is eminently more qualified. One man has a flagging memory, the other man pollutes and distorts the truth with purposeful deceit. 

No archaeologist/historian looking back on this time from the distant future will understand how Trump got elected the first time much less a second time. Of course he would not be the first aspirational dictator to lead his blindly loyal base straight into the dumpster of history. History is replete with demagogues who preyed on fear and racism in order to gain popularity. The 1930s spawned several well known fascists. They all ended extraordinarily BADLY.

The Republican Party is now the party of Trump. Those former Republicans who won't back Trump, no longer have political affiliation. Those who DO back Trump have overwhelmingly indicated they don't give a damn about democracy or American institutions. To them, their Trumptopian fantasy is all that matters.

Of course if Biden wins he will be saddled with one hell of a mess, because MAGA is nothing more than a four year (?) delusional orgy of greed and profligacy on a biblical scale. An exorbitant vacation from responsibility tacked onto the end of the economic cycle. Which will end with human history's biggest financial explosion. 

The one we are expecting any moment now.

Anyway, that's what history will say about this time. It was just one massively lubricated circle jerk. 

Let's get to some ludicrous charts:

The parabolic stock du jour is Zoom Video which more than any other company epitomizes the work from home mega bubble. Last night this stock "beat" earnings expectations and today tacked on +40% to its parabolic COVID rally:

Yesterday I wrote about the Tesla mega bubble while mentioning Apple briefly. Today, the Apple mega bubble exceeded the entire Russell 2000 small cap index in market cap.

Apple is now record overbought (see top pane) and is of course the prime beneficiary of dumb money index inflows AND algorithmic futures-based market manipulation.

Software sector

Momentum Tech

Here we see Chinese internet stocks overlaid with U.S. Momo Tech. 

The fate of the U.S. and Chinese casinos is now inextricably bound. What Donny does to China will ricochet back on U.S. markets. 

As I've said many times, there is only one reason for this pump and dump - to mine the bank accounts of those idiots buying a Tech bubble during a depression:

On the topic of Running Man, gun sales are through the roof:

Trump is set to join the pantheon of GOP presidents who over-lubricated gamblers with de-regulated corruption and easy money: