Wednesday, November 11, 2020

The Invisible Hand Of Implosion

Denial will forever have a name: McDonald Trump...

Throughout this entire slow motion trainwreck the burden of proof has been on us realists. The denialists and con artists got a free pass. The bill for mass fraud will be overdue upon receipt...

"We can't be socialist"

Indeed that option is now off the table. 

Many of us former conservatives recanted many years ago when we realized that the system of capitalism was morphing into a zero sum con job known as "Globalization". Instead of raising the standard of living in the Third World, it was lowering the standard of living in the developed world. Thereby creating a more "equal" workforce for the multinational corporations to prey upon. I wanted no part in this entire con job. 

And yet, it's amazing how as people are being lowered slowly into squalor they continue to cling to the myths of the past. To roll this model back even by ten years would now be called "socialist", in the minds of the easily fooled. Once upon a time, U.S. companies provided full time jobs and generous benefits for their employees. Families lived on one income, and employers provided healthcare and pensions. Over time, the job security and benefits were systematically stripped away to make the quarter. Now, few corporate employees have traditional pensions, and amid exploding healthcare costs, a dwindling number of employees have employer-provided healthcare. And yet, this pathetic version of what abided in the past, remains the "best" model in the world. So say those who know absolutely nothing about the rest of the world. 

For forty years "free trade" was signature GOP policy, and then at the very end McDonald Trump was tasked with rolling it all back when they realized the true cost of the devastation. They had been adamantly right all along, but then at the end, the all-knowing idiots reversed course. Too late. 

COVID of course pulled back the curtains on this failed model, stripping away employer healthcare for millions in a pandemic. Twenty years of McJob gains wiped out in six weeks to protect the bloated balance sheets of insolvent corporations. So what to do, Republicans nominated a far right conservative to replace Ruth Bader Ginsburg and strike down Obamacare in the midst of a pandemic. A gambit that hopefully will fail. 

"Chief Justice John Roberts twice saved Obamacare, and he appears ready to uphold it again. But Roberts is growing weary of it all"

His message to the many parties represented at the court on Tuesday was essentially: Just stop."

Roberts is the conservative exception that proves the rule. He will now be relentlessly attacked by cave trolls as a traitor to their cause of ever-expanding squalor. 

History will say that the people behind the attack on the ACA (Affordable Care Act), were CINO: Christian In Name Only. Using their fraudulent beliefs to commit atrocities both in their own country and abroad. 

These are people who themselves have been strip-mined by the very system they love unconditionally. To the point that they now exhibit the morality of a refugee camp. And yet operating under the well-cultivated belief that they are following the American "tradition". One they've been told consists of continuously strip-mining the middle class to make the quarter. As the saying goes, history is watching, but sadly useful idiots are not watching history. It all speaks to the power of mass brainwashing. For the rest of time, they will forever be known as Trump acolytes: sociopathic liars and con artists. Third World in every respect. 

And now true to form, resolutely unwilling to allow their beloved tinpot dictator transition power peacefully.

Where this gets interesting from a casino standpoint, is that the stock market has become more and more central to this entire Ponzi con job. As pensions were stripped away, and as zero interest rates evidenced the destruction of the economy, the denizens looked more and more to the virtual simulation of prosperity. The monetary MEGA bubble known as the Dow Jones Illusional Average. Now, entirely decoupled from the real economy. 

As we know, this past few days there has been a manic rotation into cyclical stocks under the auspice of renewed "reflation". There have been so many fake reflation rallies this year and this past decade, I can't keep track of them all. This latest rally was due to one vaccine headline coming amid the largest COVID spike to date. A vaccine that remains half a year away.

And yet, we are now entering the COVID winter from hell:

"There’s been an “unprecedented spike” in Covid-19 hospital admissions in Ohio. ICU beds in Tulsa, Oklahoma, are full. North Dakota’s hospitals don’t have enough doctors and nurses. And hospital administrators in Iowa are warning that they are approaching their limits."

Also with regard to the fake reflation trade, we learned yesterday that:

Inmarsat, Nov. 10th:

So what does it all mean? It means that gamblers are buying bankrupt companies. And it also means that new COVID hospitalizations will continue to skyrocket until states reinstate lockdowns. Which will monkey hammer the stock market. The same way it did last February.

All thanks to denial. 

And as far as this current political gong show, the markets will send an unmistakable message to the controlling greed mongers in the GOP that it's time to escort their dictator from office.

But, that will only come AFTER the meltdown.

The bottom line, is that we are returning to the scene of the crime. And this time there will be no bailouts for criminals.