MAGA has turned its back on science and reason, placing its faith in con men, greed, nihilism, and corruption. For true believers, it will be a one way trip of their own making. Carbon levels will plummet, making us alarmists feel like fools, as denialists layer themselves into the archaeological record, gamed by the rules of their own "system". They placed their fate in the hands of Donald Trump on the basis that he's a sociopathic liar who figures out what they want to hear and works backwards to the lie...
At this late stage the Financial Services industry has earned the credibility of Bernie Madoff. However, mass delusion is the last functioning investment strategy so for now they're in their element. It's compliments of trust in serial psychopaths, that the sheeple don't see this coming:
At this late stage the Financial Services industry has earned the credibility of Bernie Madoff. However, mass delusion is the last functioning investment strategy so for now they're in their element. It's compliments of trust in serial psychopaths, that the sheeple don't see this coming:
Fortunately for the industry that must "dance while the music is playing", Trump killed the Fiduciary Rule, giving free reign to imagined realities:
"The “fiduciary rule” is officially dead.
The Labor Department rule, conceived by the Obama administration, was meant to ensure that advisers put their clients’ financial interests ahead of their own when recommending retirement investments.
The rule’s fate was all but sealed with the election of President Donald Trump, who generally opposes financial regulations. Just two weeks into his presidency, he ordered a review of the rule"
Blind cynicism being the order of the day, conflict of interest is assumed and therefore ignored.
As Janet Yellen said this week, Trump is as ignorant on the economy as he is in business. He excoriated her for NOT raising interest rates and now he's excoriating his own Fed candidate FOR raising rates. Duly worried that his sole accomplishment - a bigger, fatter, uglier con job, will implode. His management style consists of blaming other people for all the problems he creates.
Which is why he has the least competent administration in history:
Trump: "America is now booming like never before"
Herein lies the problem, whereas historically stocks have been leveraged to the economy, in this era due to rampant asset bubbles created by money printing, the economy is now leveraged to stocks. We now have what I call Ponzi GDP: Economic growth leveraged to the S&P futures. Which is why GDP fell off a cliff over the past few months. It's the fake wealth effect going in reverse. Also why today's economic growth predictions have the veracity of a fortune cookie.
What went wrong?
Over-confident buffoons, born under a reserve currency, that's what went wrong. The more certain of future utopia they became, the more they swapped effort for bullshit - now Trumptopian scale. This species has unending capacity to layer in fellow humankind as another carbon brick in the archaeological record, by exploiting poverty as a line of business. While constantly blaming the monetized people who fall to the bottom for their predicament.
At this latent timeframe:
Delusion and arrogance paper over reality.
Asset bubbles paper over slavery.
Entertainment spectacle papers over collapse.
Continuous lying papers over inconvenient truth.
Pseudo-science papers over corporate interest
Cynicism papers over corruption.
Which gets us to rampant speculation, the order of the day. Because central banks bailed out gamblers in 2016, this time around instead of de-risking, fearless gamblers are front-running central banks.
Into the riskiest junk they can find.
To paraphrase Jeff Gundlach, there is nothing new under the sun in speculation. It's strictly about delusion and momentum.
Led now by the 5G Telecom trade war:
Ciena:
Xilinx
Fintech assisting insolvency
"Total outstanding U.S. consumer loans hit a record last year, driven by digital-first lending options."
Financial technology, or fintech, companies now make up 38 percent of the personal loan market — up from just 5 percent five years ago"
Meet the new subprime
This is the era of stoned complicity
Goodnight Moon
Goodnight noises everywhere
