Someday soon markets are going to realize how bad a Biden presidency is going to be. From Tom Luongo at tomluongo.me:
If you’re a fan of The Expanse (and if you aren’t you should be) you’ll be familiar with the term The Churn. The Churn is the controlling idea for Amos Burton, whose only defining ethos is survival.
Simply put, The Churn is that moment when, “the rules of the game change.” Which game?
Amos: The only game. Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
Embedded in Amos’ idea of The Churn, however, is that while the rules change society itself keeps on keeping on. So many people right now are trying to analyze the political situation in terms of The Churn, the normal ebb and flow of who has the upper hand in the power struggle.
The impeachment idiocy on Capitol Hill is your prime example of this. Petty bureaucrats like Pelosi and Schumer are still thinking in terms of their political futures, the normal rules for using leverage to secure their Party’s future.
Mitch McConnell still thinks playing the role of controlled opposition will keep the fundraising up for the mid-terms. Nikki Haley is already texting people for money for her 2024 bid as the magic GOP brown woman who will save the party after ousting the demon Trump.