History dictates that this level of Banana Republican wealth inequality does not end well for massively overbought Ponzi schemes and the people running them...
"Bear case? There may be only bulls left in 2021"
No equity market analysts that MarketWatch surveyed for this report foresee a pullback from current levels, already observed as lofty by more than a few market experts, as investors head into a crucial phase of the recovery from the worst pandemic in over a century"
As sane observers, we need to realize one thing right now and for the future as this society descends further into Third World dystopia: $200+ trillion of misallocated global capital will NEVER admit that the future could be anything other than better than the past. The present value of discounted fantasy doesn't allow it. No one is going to plug a minus sign into a spreadsheet designed to attract copious idiots to Ark investment funds.
Which is why 2021 will start off the exact same way as 2020 - epic reach for risk amid a mass pandemic. What will they say this time?
"Aw fuck, not this again!!!"
This Christmas, the Billionaire-in-Chief is living large at his Mar-a-Lago Florida estate while millions of Americans go hungry. Many millions more will soon be evicted, homeless, and destituted by Trump's infinite corruption. Trump's implosion of the pandemic stimulus bill was a vicious act of cruelty cloaked in a mock gesture of generosity that collapsed the prospects of near-term economic assistance. It was a modern day declaration "Let them eat cake". For those who know their history, that didn't work out too well for Marie Antoinette. Suffice to say, my prediction for rioting in 2021 just got pulled forward substantially in the past week. This event is exposing the absolute immorality of the Republican party, in a way that even the biggest idiot can see. Throwing people down the shit hole is their legacy.
This article below lays out the options I was discussing in my last blog post. Of the three options - sign the current bill, veto the current bill, or do nothing - the last option is the most likely. Notice, that obtain $2,000 stimulus is not one of the "likely options". Trump already said in his Christmas present video that he is going to leave this stimulus clusterfuck to the "next president", which could be him if the GOP bends over the log. Which means he plans to inflict maximum pain. Someone in his Machiavellian Administration understands how to twist the knife for maximum damage:
Option #3: Trump's specialty - do nothing:
Trump runs out the clock within 10 calendar days (except Sundays) of receiving it from Congress, neither signing nor vetoing it. The situation is known as a “pocket veto.”
In this case, the calendar works in Trump’s favor if he wants to kill the bill. Within that 10-day time frame, the current 116th Congress expires on Jan. 3 and the new, 117th Congress is sworn in. Bills die if they are not enacted during the Congress in which they are introduced."
Getting back to my primary thesis:
This is America and we don't believe in socialism in this country. No instead, we believe in serial monetary bailouts for the rich while working people get laid off at the rate of 800,000 every week. We are witnessing the abject failure of capitalism to create prosperity for anyone except a dwindling minority of monetary subsidized super billionaires. A zero sum game. A hoax and a fraud. The only hoax and fraud NOT covered on Faux News and hence the only real one.
Globalized capitalism failed in 2008 when it got bailed out at taxpayer expense. And every day since then via continuous monetary bailout. The system was too corrupt to fail. Since that time, we've been living on the glue fumes of recycled mythology. Doubling down on the same failed policies that have been destroying the middle class since the 1970s.
However, today's captains of the Titanic can't admit failure. To do so would admit that the entire model is flawed and instead of creating widespread prosperity, it created widespread global poverty. What can they do now except blame socialism for creating the most extreme wealth inequality in human history? Somehow socialism inadvertently created the most billionaires in human history. Sure. Only a super idiot would believe such a thing, which is why even in this hunger games lottery, the system goes unquestioned. If it's one thing corporations did well, it was to create an obedient Borg of unquestioning zombies. Now daisy chained on social media.
But the question is, can socialism unfuck capitalism? And the answer is of course not. The whole system has to collapse and be re-built from the ground up. So in that sense the dedicated Idiocracy is right, socialism at this point would just be more lipstick on a pig. But how many people do you know who will admit they've been kissing a pig their entire lives?
None.
Which is why the sheeple ride this Titanic all the way to the bottom, gambling in Trump Casino all the way down to their inevitable fate.
"Tech companies were the first to cancel events and send workers home because of Covid concerns in early 2020. Now they’re the first to make work from home permanent as the pandemic accelerates into 2021. That’s no surprise since the pandemic also benefited tech companies the most"
As Americans followed rising case counts and hunkered down in the spring, most of us were still hoping that the pandemic would blow over by the start of summer...But tech companies had already been bracing themselves for a much longer timeline. Even forever."
Artificial intelligence forever.
The poster child for mass delusion is Tesla, which is the cornerstone super bubble of 2020. Tesla's market cap has increased 10x in the past year, by half a trillion dollars.
Tesla benefited from multiple "growth" factors in 2020. It started early in the year with the fossil fuel divestment movement. Tesla is one of the largest cap green energy companies, so it was added to every ESG ETF. Right now, Tesla is the top holding in three of the ultra popular Ark investment ETFs: Ark Innovation (Arkk), Ark Web 2.0 (Arkw), and Ark Robotics (Arkq).
The Tesla bubble was just cooling off when Joe Biden got suggested for president - if democracy can prevail. So that of course created a massive bubble in everything green energy. And then just as Tesla was reaching its Biden zenith, Standard & Poor's decided that the stock was a sufficiently large and lethal bubble, that it should be added to the S&P 500. Where it can now wreak havoc on retirement portfolios.
All of which makes 2020, the year of ultimate greed.
