MN Gordon instructs how to make what will probably prove to be idiotic trades. From Gordon at economic prism.com:
Obviously, the time for real solutions to the debt problem that’s ailing the United States came and went many decades ago. Instead of addressing the Country’s mounting insolvency, lawmakers chose the expedient without exception. They kicked the can from yesterday to today.
Presently, there are no good options left to fix the mathematics bearing down on us all. Hence, in the degenerate stage of an overburdened nation-state, style over substance is what counts. Without question, Congress and President Trump played their parts to push the bill with much bravura.
On Tuesday, for example, President Trump, Senate Majority Leader Mitch McConnell, and House Speaker Paul Ryan held a White House meeting with two empty chairs. Apparently, Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi didn’t want to participate in a “show meeting.” Thus, they made a spectacle of themselves and ditched the meeting.
Indeed, their absence was all part of the show. Moreover, the entire episode was show; nothing more. At the time of this writing (Thursday night), the show continues on. The last we heard, the Senate vote had been delayed until Friday. By the time you read this it may be a done deal – or maybe not.
Regardless, the tax bill is all quite meaningless when you have a fiat currency that’s been stretched out like silly putty. No doubt, this has propagated immense financial speculation while outrunning actual economic growth. The effect has manifested in strange and unexpected ways.
Incidentally, following Fed Chair nominee Jay Powell’s confirmation hearing before the Senate Banking Committee on Tuesday, Senator Elizabeth “Pocahontas” Warren remarked that the Fed had the same regulatory attitude going into the crash of 2008 because they haven’t intervened in bitcoin.
Naturally, it never occurred to Warren that bitcoin could be a barometer of the Fed’s extreme intervention into credit markets. Without artificially suppressed interest rates and Fed asset purchases, bitcoin would’ve never become the recipient of such speculative fervor. Attempting to regulate it now is like assigning price controls by edict to address a Fed induced bout of consumer price inflation.
To continue reading: The Complete Idiot’s Guide to Being an Idiot