History will say that the age of greed ended extremely badly. Not for lack of trying mind you.
During the Me Too movement Trump bragged about grabbing pussy. During the Black Lives Matter movement, Trump made common cause with Neo Nazis. For four years straight the Banana Republican double standard grew to ludicrous levels. All the while, Trump was protected and venerated by his mob of zealots and supported by silent Republicans, bribed with tax cuts. Then last week he pushed his luck too far. Finally, the checks and balances closed in around him and shut him down. The Deep State - what idiots call functioning government - finally took him down. Now Trump is radioactive. Corporate donors are abandoning him, social media sites are shutting him down, banks won't lend him money, and even prominent Republicans have reached their limit. McConnell, who lost his majority due to Trump, now sees blood in the water and the opportunity to end Trump's political career forever.
After Biden won in November, Trump was furious that Republican politicians were not helping him overturn the election. He was particularly angry with the state of Georgia which Biden won by a narrow margin. As luck would have it, the seminal runoff to decide the balance of power was in Georgia. So what to do, Trump went down there ahead of the Jan. 5th runoff and he essentially told his base not to bother voting, because the Georgian election system is rigged. He sabotaged the election, and handed full control of the Federal government to Democrats. They couldn't have done it without him. So now that Trump's attempted coup d'etat failed last week, McConnell has signaled he is supportive of Trump's impeachment to implode Trump's political career forever. All of this backstabbing is taking place WITHIN one deranged party of infantile assholes.
The Founding Fathers in their sage wisdom created a robust system of checks and balances based upon the rule of law. A system that would not be fully tested until over two hundred years later at the hands of a venal Idiocracy. Trump did everything possible to destroy the American system of democracy because he was incapable of understanding its inherent value, much less how it functions. He believed he was an all-powerful dictator who could bulldoze his way through checks and balances with impunity. Which points to the fact that in the two centuries since the Founders penned the Constitution, the Republican Party has cultivated a useful Idiocracy incapable of understanding what the Founding Fathers wrote. Their erstwhile "greatness" has been reduced to waving flags and blowing smoke up each other's asses, the entire mission of Faux News.
Biden promised to heal the divide in this country, and a second impeachment is off to a bad start. However, Nancy Pelosi wants her pound of flesh and it's not hard to figure out why - when Trump's mob attacked the Capitol last week they were out to kill her in particular. Far be it for me to judge someone who was the target of enraged psychopaths. The Republicans pushed their luck too far and now the blood is in the water.
2021 is off to a great start.
All of Wall Street's "Goldilocks" full year predictions around gridlock are already wrong and it's only the second week of January. So what to do - just keep the same price targets and pretend that a Democrat sweep is the new "Goldilocks". Stoned gamblers are too high on monetary crack to notice the sleight of hand.
Unfortunately, all of these political machinations are obscuring the imploding economy. Policy-makers are falling further behind the curve, and are ignoring the glaring warning signs. Due to the lethal overdose of monetary euthanasia, gamblers are now convinced this is the beginning of a new cycle. When unfortunately, it's the end of the longest cycle in U.S. history.
Banks are the intersection of the financial markets and the economy. They are warning that this is a fraudulent recovery based upon record debt and printed money. Nevertheless, the masses have been convinced they've found the new El Dorado. The motherlode.
They were fooled by central banks last time too.
This is Trump's last full week as president. To celebrate, global gamblers went ALL IN on an epic scale.
Record Nasdaq volume, record breadth thrust, record call/put ratio. Does it get any riskier than this?
No.
