When it was clear that Trump had been cheating on his wives over and over again, his alt-Christian base were more than happy to look the other way. Now he's cheating them too. This will be a biblical lesson they can't afford to pay:
"I am unaware of anybody who has taken a serious look at Trump’s business who doesn’t believe that there is a high likelihood of rampant criminality"
"Don't trust forecasts or projections, especially from someone who has a financial interest in making those projections."
One year from fraud inception to fraud realization:
The spin machine is working overtime to explain away this epic con job. Most disinformers are explaining what a favor taxpayers got by receiving their refunds ahead of time. Without even knowing it was their refund. Other disinformers are fixating on the 8% average refund decrease, by way of ignoring the fact that a small number of people will get substantially larger refunds this year, offset by millions who will get no refund this year.
Compliments of under-withholding sleight-of-hand:
One year ago (Feb. 5th, 2018):
Speaking of distribution of incomes. America's bailout class hasn't had this much share of wealth since 1929:
“U.S. wealth concentration seems to have returned to levels last seen during the Roaring Twenties”
“America’s wealth inequality is not a permanent situation, but a temporary one because the asset bubbles behind the wealth bubble are going to burst and cause a severe economic crisis”
I couldn't have said it better myself. Then he includes this chart which shows fake wealth relative to GDP:
On the topic of one year anniversaries
Tech is finishing the right shoulder on a one year head and shoulders top:
Chinese gamblers have been in an ebullient mood coming back from their New Year celebration last week.
Aided and abetted by the Casino-Manipulator-in-Chief:
"When asked if he will meet Chinese President Xi Jinping at the end of March, Trump said, "Not at this point."
Nevertheless, this portends badly:
Meanwhile the weekly volatility profile is following the script from 2007/2008: An initial vol spike, followed by an overthrow high in the market to mark the top.
Followed by real volatility one year later. VolPlosion was one year ago:
Speaking of volatility, the low vol safe haven stocks are carving out a broadening top. Making new highs this week. Unconfirmed by every other market/index on the planet:
"In the broadening top formation five minor reversals are followed by a substantial decline."
It is a common saying that smart money is out of market in such formation and market is out of control."
The question NOT being asked by today's apologists for rampant fraud, is what happens to Ponzi GDP when workers re-adjust their withholdings back to historical norms and otherwise figure out that they got scammed and are now financially in the hole for 2019?
What happens then, is that the bailout queens now fretting over "socialism" will come to realize that without further bailouts their wealth is as fictional as their knowledge of history and economics.
And then wealth inequality will be "fixed".
