Market Puke Day is here. This MAY be where we draw the line between irrational speculation and irrational media manipulation; we’re standing by for it.
Here’s how the Rich Folks Laydown is going down:
Bitcoin is ready to drop through the 46,000 level for lower regions.
The Dow futures earlier were down nearly 400 points. Which – with similar losses in Europe and in the S&P and NASDAQ, looked to be making our long-feared run at lower support and taking us through our critical moving average.
The good news here – such as it is – holds that the commercials and the Fed proxies will try to prevent a rout over the next couple of days. A good bottom here (say down 425 on the Dow today, or lower) might set the stage for a “Santa Rally.”
But everything is in place to give the Buyed’em administration plausible deniability with both Ukraine warfare pending (we’re almost to the 30-day window on that, now) and with central banks lining up to blame omicron for the coming hyper-inflation. See the Wall Street Journal article today “Central Banks Worry Omicron Could Sustain Inflation: if you’re not clear on the mechanics of what the Central Bankers got wrong.
Not to turn this into an advance copy of Wednesday’s coming Peoplenomics report, but when you make up $9-trillon worth of “paper blow” and throw the country into locked-down rehab, something’s going to hurt.
Overall, the “Look of ’29” couldn’t be any clearer:
In Our Own Debt
Unless the Biden administration came gin-up a good lie, locked-in America will not generate the taxable income needed to service the National Debt. At $30-trillion – which I expect shortly – the interest at 2% on that comes out to $600 billion a year.
Kinda hard to do with fresh lockdowns and more PaterLand giveaways, wot eh?
Remember there are exactly 252 stock market trading sessions ahead in 2022. In order to avoid collapse, we need $2.3 billion a (business) day of debt service – and that’s at a lowly 2% interest rate.
As rates go up (stand by for launch!) America’s prospects fall.
Manchin is Right, However
Democrats – with few exceptions like Joe Manchin – should never be allowed anywhere near America’s purse strings.
Over the weekend, (the good) Joe – Manchin – did something few in Washington have the testiculos to do: Voted his conscience and said “No!” to slow blow’s socialist shit show.
Frankly, it’s shocking enough to see a democrat comprehend a budget, let alone stand by principles. But in the Day of the Mob, digital, brick, and demagogues? Wow. Just wow.
Yet again, however, our jaws dropped upon reading how Nasty Pelosi was planning a sham vote in two-and-a-half weeks, anyway: Pelosi eyes vote early next year after Manchin’s major blow to Build Back Better.
What mad-damn Speaker doesn’t realize is that the imminent statistically possible short-term future – even 2-weeks out – could be utter disaster. Wheels might already be flying off.
Democrats of the moderate stripe – the kind who can connect dots like the not-so-evil Joe – are rare. But, then again, most “modern dems” are nothing more than shock-troops of the Globalism-Socialism hybrid which has taken over central banks, agendas like Climate and Cryptos – the whole lot of it.
If you still harbor any doubts, see how More than 40 House Democrats urge Treasury Department to unfreeze Afghanistan’s bank reserves. In this sick rhyme off the Obama con job giving impounded assets to Iran, we see so-called democrats cast again in the role of apologists for radical killers. Way to go!
The War in Store
Not that this will come as a shock. War is coming. Don’t want to be a Lefty when the country is forced to “get right” with Reality. Let the commies soil elections, give away inventories, kill the Golden Goose, and torch Energy Independence and bad things will follow, as sure as night follows day.
Children (with rare exceptions like Joe Manchin who’s more of the historical “good Democrat stripe like the late Scoop Jackson and Lloyd Bentsen) should never be allowed to jigger the levers of power, as they have for too long.
Biden Apologists, in media such as The Atlantic are rolling out The Overlooked Factor in Biden’s Unpopularity. Like being a do-nothing, blowhard, geezer? (My pet theory is all lawyers should be barred from public interest because making the laws and making money on them just seems crooked. Biden is just another example.)
In a story last week, Fox report that Voters think Biden is making inflation worse. Which is – strangely – true. He – and the yet-to-be-convicted self-aggrandizing inside traders and process abusers on Capitol Hill – have taken a country on the mend and murdered its future prospects for greatness.
See, in 2022, even with the scaled-back spending plans of the Fed to keep this POS afloat, democrats are still planning to spend 3/4th’s of a trillion on various free-lunch/bride efforts, or about 2-1/2% of GDP, to keep Lady Liberty solvent.
The longer America stays out of economic rehab, the worse the withdrawal from notion-based finance will become. Surely, you can’t argue that? History offers no counter-examples.
Who wins? Soros and the other Fat Cats including the Section 230 billionaires who have, among other things, scammed reposting of socialist upriser pap (Antifa, BLM for example) into a multi-billion dollar organized racketeering program. I shade spending away from companies that gave in to such shakedowns. Because it was not about race, it was about money.
Still, some people “get it.” Take Fox last week where Will Cain (nailed it in): BLM will call you a racist for shopping at stores they have no problem taking money from. Land of unequal equality and reverse discrimination being a good thing? Hardly! The foundation of America’s in smithereens.
Fake News, retweet machines, and notional made-up “digi money.”
Vlad Putin’s emboldened for late January not by our lack of ready-to-kick-ass military (*also as an educational footnote see Navy unveils maternity uniform pilot program for 2022 (militarytimes.com)). Putin’s emboldened because we are indecisive and divisive.
America’s not even ready to take on…ourselves.
Democrats might as well give our bricks for Christmas – you know – to go shopping with.
Cost of Christmas Dinner
$531 in groceries will be picked up later today. Of that, Christmas dinner this year tips the treasury at about $179.50:
- $78 for the large prime rib.
- $21 for vodka.
- $19 bottle of champagne for Elaine.
- $21 for a jug of Paisano.
- $6 for Tums.
- $4.5o Omeprazole.
- $30 for the leather punch.
Yes, the leather punch to move the belt hole out one.
LIE to Come
Shades of moronic, this is our Anagram for Leading Economic Indicators. Out this morning at 10 AM EST.
BooJabs and All
Politics as always last week when a Philly (city of ballotly love) had a 3-judge appeals court bend-over for Slow Joe on the vaccination industry. One of the judges was an Obama pick, one Bush (guess which way…) and a Trump appointee who was the lone dissenter.
2 out of 3 thought that OSHA has a right to enforce made-up shit based on politic decrees, not laws. Weird.
Meantime, the truth leaks continue: Even the left-cheering NT Times admitting now Most of the World’s Vaccines Likely Won’t Prevent Infection From Omicron. Never let a good crisis go to waste, let alone under-monetized.
This is what Big Pharma and PayWalls were made for.
Meantime, Slow will be taking to America on the boob tube tomorrow night. No telling where our president of Nuevo Venezuela will overreach next.
We’ve gone from a land where “What America really needs is a good five=-cent cigar” to a nation where “America needs free AstroGlide.” BOHICA just ahead.
War – sooner than our forecasts? Implied in reports that Russia ‘plotting Christmas Eve invasion’ with 100,000 troops amassing on Ukraine border.
Tactically, this will be interesting to watch. We have been looking for a Russian call-up of reservists first. However, as my consigliere warned a few weeks back, there is an incentive for Russia to move before all those roll-on-roll-off (RORO) ships unloading tanks and what-not in Greece can be moved up, serviced and crewed in the Ukraine area. For NATO “exercises” my ass.
Strategically, the US is in trouble since Vlad’s got 2-1/2-times more military reservists at the ready: What role will military reserves play in a potential US-Russia war?
And Taiwan will fall as China sees the window to move for “reunification.”
Whistling in the graveyard – to keep American sheep on the low beam – continues in Why China won’t invade Taiwan and Russia won’t attack Ukraine, for example.
Similar whistling is heard in Taiwan’s ‘SEALs’ would be on the frontline of a war with China. Here’s how they’d try to hold off an invasion.
Fact is, China’s military is at least 13-times larger than Taiwan’s Spitwads to a gunfight, as we see it.
Grocery run and then building materials. Lumber prices have rocketed and with the coming hyperinflation, money spent on greenhouses and gardening supplies seems to us the best possible use of funds. Never enough 7.62 “pesticide” is there?
Until the coming War Season blows over.
Write when you get rich,