Truth and Consequence
Flyover America is fast on its way to feeling betrayed… again.
There was never a chance the Donald could or would “Drain the Swamp,” let alone MAGA.
We’ve known from Day One that Trump lacked a real program to rectify America’s ailing Main Street economy. And this has nothing to do with the Deep State’s vengeful resistance.
What’s happened in recent months was just one last rip of Wall Street’s army of gullible speculators and momentum-chasing robo-machines.
This “Trump Bubble” will prove to be the most lunatic mania of modern times. And it’s getting close to time for that consternated and inevitable chorus of “What were we thinking?”
Well, “we” were “thinking” on a decade of easy-money muscle-memory and buying the effing dip…
That worked on Wall Street – for insiders like Goldman Sachs and other big gambling houses speculating on carry-trade leverage in the options market, for example.
If you survived the plunge that happened between the Lehman Brothers bankruptcy in September 2008 and the March 2009 bottom, there were literally 50 buyable dips in the years of fabulous riches that followed.
That one-way market was the work of the Federal Reserve and its global horde of Keynesian central bankers.
Now comes the reckoning.
The cratering of the Trump Bubble is just the beginning of the Donald’s comeuppance.
That’s because this “booming” economy is no more real or sustainable on Main Street than Wall Street’s last rip. Here are the data.Read More