America’s corrupt economy and way of life are headed for a crack-up, regardless of anything President Trump may or may not do, but the mainstream media is blissfully oblivious. From James Howard Kunstler at kunstler.com:
You had to love the narrative that the financial media put over about the 1000-plus point zoom in the DJIA on Wednesday: that pension funds were “rebalancing” their portfolios. It dredged up the image of a drowning man at the bottom of the deep blue sea with an anchor in one hand and an anvil in the other, switching hands.
Thursday’s last minute 900-point turnaround was another marvelous stunt to behold. Somebody gave the drowned man a pair of swim fins to kick himself furiously to the surface for a gulp of air. The truth, of course, is that pension funds are sunk, however you balance their investment loads while they’re underwater. They over-bought stocks out of sheer desperation during ten years of near-ZIRP bond yields, and started rotating back into bonds as they crept above the ZIRP handle, and now with bond yields retreating, they’re loading up again on still-overpriced stocks that pretend to be “bargains.” Everybody knows that this will not end well for pension funds. Glug Glug.
Posted in Business, Collapse, Cronyism, Debt, Economy, Environment, Financial markets, Government, Media, Morality, Pensions, Politics
Tagged President Trump, Stock Market, The swamp
Doug “Uncola” Lynn examines the trends and forces that render elections irrelevant. From Lynn at theburningplatform.com:
In so many ways, elections in America have become just another manifestation of bread and circuses; like watching a reality TV show when your house is on fire. It’s why this article was almost named:
“The Inevitableness of Reality Requires Honesty and Acceptance”
Of course, the 2018 Midterm Elections will be analyzed ad nauseam, with other writers and pundits parsing it better than this blogger. However, suffice it to say: There was no Blue Wave and Trump has now solidified leadership of his Republican Party; at least more so than during the last two years of his administration.
In a raucous press conference the day after, Trump claimed victory and said his party “defied history to expand our Senate majority”. The president also said his focus in the days prior to the election remained on the senate and pointed out that most of the candidates for whom he campaigned had won their respective races.
Posted in Crime, Debt, Economics, Economy, Government, Morality, Politics, Privacy, Surveillance
Tagged Debt implosion, police state, The swamp