Early this morning the S&P futures were down 13 points and the Dow down 70-ish. But the rest of the week – and maybe to the end of August – is where the tale of America’s social and financial future will be told.
As we have been saying, the Fools on the Hill won’t likely give Trump a chance to brandish actual economic help for real people. Because they will rightly figure it will be an election issue. There are now just 91-days.
Big Business still screaming for handouts. Screw ’em. Like that snot-nosed kid in grade school who wanted more crackers. Victims in all this? Us – the tax prey public. CEOs (who don’t care) Warn Congress of Small Business Failures Without More Aid. Save us!
What ever happened to “women and children into the lifeboat first?”
Jerked-Around by the Wallet
There has been sooo much happy-talk on the net about how a federal UI extension would be forthcoming. But, as we have warned, never count on our “elective anal cavities” to operate in anything but their OWN interests once they ascend into power heaven.
That the CNBC crew is running with “Extra unemployment is over. So are most eviction moratoriums. Here’s what relief could be coming next” is just so much more Hopium for the masses. Can the Big Lies about “help” last 91-more days?
The real game here (and we should thank Black Lives Matter for revealing it) is Congress can deal with a few toppled statues. But what scares them?
What it ALL OF US got pissed and took the streets and threw ALL the do-nothings out of office?
Even the turncoat Supreme Court has gone off into legislating from the bench lately – not following the letter of the Constitution. Instead interpreting it way out of context. It really does ONLY apply to Citizens despite the socialist palaverings to the contrary. Inhabitants for the Census have to be Citizens to be counted. It’s clear as day, but that presumes you can read (and comprehend) historical times and contexts. Not trying to play to a mob. I digress.
Murk is All Around Us
This gets into very “deep murk.”
Social media is a travesty – it’s been hijacked by bots and – protected from lawsuits by the misnamed “online decency act” – the operators of socialist media are running epistemic paternalism operations as unfit parents! End protections for social or extend them to all citizens.
See how this “absolute equality stuff” is supposed to work? Corporations are your superiors, though. Get that through your head.
The New Road to Wealth, Power, Legacy? Become a “special protected class” and the Future is yours. Don’t need a job…form a mob then tax a gob…yeah baby.. Nu Merica! FMTT. Where was I.
Because in all previous financial history, businesses persisted over time – or went BK – because they made provisions for “hard times.” We is there.
Problem being, of course, that “money at rest” (formerly “financial reserves”) is not useful from an EBITDA standpoint.
Can’t rope-more-dopes into towering stock swindles that depend on Greater Fools to buy at even more insane levels. So when the “shit blows up today” the public is tapped. Ben Dover for president [whoever]!
(See why only property owners should vote? The mobs coming for it all. Just be patient and remain glued to the UHD Cyclops a bit longer.)
The DVR – Dollar Valuation Rally
There is 31% more money sloshing around the financial system than there was when the market cratered earlier this year.
While a “normal Elliott wave retracement” would be on the order of 75% from the (March) lows, we are actually slightly above the all time high (February) in our Aggregate Index work (+1.147% if it matters). But how much could the “dollar valuation rally add before heading south?
Let’s see: A 75% rally times 1.3 times as much money 97.5% so we have exceeded that already, but only by a bit. NOT counted though is the other stuff the Fed has done – like buying of bonds and such – which has caused an artificial sense of “Things are different this time.”
Although it’s costing me (short term) a small fortune, (Markets can remain irrational, longer than ure can remain solvent…) I expect – in the end – to be right. Whether I’m still alive, though…different question.
Here’s the DVR: Forbes has a very good article over the weekend (Gold At $1,900 Signals A Decades Long, Economy Sapping Devaluation Of The Dollar) that laid it all out neatly.
As the U.S. continues on the financial respirator of “made up money” under the cockamamie “Modern Monetary Theory” (Making Up Money – a socialist’s gambit with no reality needed in terms of mark to markets and it pencils as long as there are zero external competing economies – like, oh, CHINA, GERMANY…JAPAN…) the number of dollars chasing stocks has been hugely inflated.
Everyone wants another free lunch. Kiddies, we have trouble in the kitchen and running out of lunches…but don’t spill that to The Mob – yet. Might get one more day of upside out of this pig of a market, yet.
What Investment Alternative?
Many players are trying to “get out of dollars” but really, what can you buy? Bitcoins? LOL…anyone can make up a digital currency…so no, the prize is not behind that curtain.
Traditional economics would say invest in real estate. The “Twin Barbarians at the Mall” (Amazon and Wal-Mart) have killed the shopping malls.
Oh, and what they didn’t kill, CV-19 is on mop-up duty. Now, throw on social distancing…
Anywhere else you can think of to “Park Money?”
What To Buy is a GLOBAL Problem
Seriously: The end of Modernity is the crack-up of consumerism. No going on a cruise, anymore, because? Stories like Norway cruise ship passengers with coronavirus reach 43, offer hints.
The recovery from the CV-19 economic knockdown continues uneven as hell. Not only can we not get the same filet mignons for din-din, but other inconveniences abound. Like Why disinfectant wipes aren’t returning as fast as toilet paper…and so forth.
Seriously: Is the new Big New Thing to be Bio-Buttons? Which sound like a rewrap of the Fit wristband monitors to the Old Cynic- Senior Stoic. We are continuously amazed at how Western-style capitalism can monetize any and all threats into profit-making opportunities., Because? (Repeat after me:) “Everything is a Business Model, Commandante Ure!“
Si. Bueno. NOW print me some more hundreds and let’s move on.
Is There Real News?
There is cause-driven gobbledygook for the most part. Need examples?
Study shows racial gap in perceived access to arts and culture in metro Detroit. HUH??? Last time we were in Detroit is was like visiting a freakin war zone. Haves downtown and have nots in the emptied-out buildings. They’re talking “arts and culture?” ViseGrip me. They need education and business creation incubators.
Oh, here’s something useful – yeah, this will restart America: Epic Star Wars Supercut Video Is Here To Give You Chills.
No? Well, how about this passing as news: ‘Harry Potter’ star Jason Isaacs reveals he had a ‘decades-long love affair with drugs’. Get in line, buddy. Stretches around…the world.
And do we really need the Washington Post cutting down trees and burning electronics to tell us Why not everyone was kneeling during the NBA anthem demonstration? I don’t think sooo…. at least those of us not in reeducation camps or rehab already know.
World is nuts. Addicted to competing victimhood’s.
America’s Weakening Youth
Had a heart to heart with my son last night. The young are getting tired. America’s vitality is in trouble.
Son G2, a firefighter/EMT who’s busy as hell with CV-19 and wild fire season in the mountains tells me “Dad I’m exhausted…I need a break.”
“You’ll get one G…as soon as you’re dead. GTFU. Dad is still cranking 70-hours a week in real measurable work. All you really need is a fresh shot of Joe Rogan and Jordan Peterson, and re-read that David Goggins book. Double Americano tall with that.”
We become our inputs – and tomorrow we get more deeply into that (input control) on the subscriber side.
Frankly, we won’t have a country, if we can’t get our shit together. Biden’s just another panderer like Trump. We need a new, honest values-based American political party. The American Whig Party is supported by some of my friends. “Peace and Prosperity” would be a nice break.
But first? We have hard work to do. We need to rethink the notion of everyone “working for the Man” all the time. We need a national strategy to return to a time when one person working could support a family.
Ain’t going to happen as long as people persist in chasing the false idol of financial supremacy. Which is why we voluntarily downscaled 20-years ago. No stress – except for the stuff we let into the house on purpose to remind us how generally f*cked-up the world is.
You really can focus on getting a little land and growing a few vegetables. You don’t need to pay $80,000 for a car. It’s all a game of egoic excess and it ends with a psychotic break.
Like the one the world is entering right now.
At the end of it? Anger will be everywhere – and that’s why wars follow economic depressions. Because we persist in continuing to be “broken” on the inside and are somehow amazed when our “outer world” reflects the inner bankruptcy so clearly.
I’ve said enough. Say hi to “the Man” for me. We’re just working for food and taxes and to do a little of “the right thing” to change the world to a more healthy direction.
Yeah… I know. Good luck with that.
Write when you get rich,