Déjà vu

FDR Memorial

By David Glenn Cox

Wall Street says it welcomes a Biden Presidency. It’s like the time Industrialists complained about government intervention in their business and Harry Truman answered, “If FDR hadn’t intervened in your affairs, you wouldn’t have a business.” If you are a financial analyst studying the analytics and looking for trends in the market under a second orange imposter administration, you are obsolete. Trade wars are easy to win. “The China Virus” and “Little Rocket Man.” Oh my god, if you think domestic policy is terrible, then thank god they’ve been too chicken shit to get involved in any real foreign policy.

After the ill-advised assassination of the head of Iranian intelligence Trumpy blinked and allowed the Iranians to rocket our positions. The orange abomination then disparaged our casualties. He turned his back on the Kurds and walked away from Syria. He insults our allies and cavorts with our enemies, what’s not to love? Two words – Vladimir Putin. Donald Trump to the world, “Why don’t we let Russia back in the G-7?” The world to Donald Trump – “Fuck Off!”  Inspiring, I know. Little Rocket Man became emotional the other day at the unveiling of North Korea’s new ICBM built while writing love letters to orange Howdy Drooly.

The old adage says Wall Street is Main Street in six months. Well then, things are looking pretty good. Except of course, unless you look at the Bureau of Labor Statistics. The service industry is hammered, we all know that, but other big losers are construction and truck drivers. What does that say about where our economy is going? One in five businesses that closed for the pandemic in Atlanta will never reopen. The Republicans stunned by the pandemic passed a stimulus bill but then fearing Oliver would ask for a second bowl of porridge dug in their heals offering ten cents on the dollar in answer to a second Democratic stimulus proposal.

Biden will end fracking, no Trumpy has already ended fracking with oil at $37.00 per barrel fracking isn’t practical. “Come on now, who wants to buy this barrel of fracked oil at the special today only price of $75.00! Get yourself a barrel of that American energy freedom!” Industry insiders predict the unemployed will no longer commute further depressing sales.

But then why is the stock market so high?

Let’s play, “I’m a billionaire.” Everyone put on your official orange Donald Trumpy, “I’m a billionaire hat with the natural man-made fiber wigs. Made in China, it only looks like cat fur, but it’s not cat fur! Banks don’t pay interest anymore. The economy is doing sooo good that interest rates need to be kept at zero or the whole thing falls in. So, what is left? Invest your money in Google, Tesla or Facebook. But will those stock go up? How can they not go up? Limited commodity with unlimited capacity, it’s a sellers’ market. If you own money it is only worth what the government says its worth, if you own stock it is an actual piece of property where the value is market set. If you own the bakery, you will never go hungry. If for some chance the banks were to close the Federal Deposit Insurance would replace your losses with “New Dollars.” Do you want new dollars or Amazon stock?

Remember the first time you bought a new car? You signed the papers and they sent you a payment book and you got insurance. Now imagine you are an airline and the airplanes cost $90 million a piece and you own about a hundred of them. It is just one more act in Trumpy’s Schizophrenic side show. First, he signs a stimulus and then says he will not sign a second one. Then he calls off negotiations then four hours later, he restarts negotiations. He suggests a targeted stimulus for the airlines and then announces he favors an even bigger stimulus than either Republicans or Democrats. No election year pandering here. Why would Wall Street not be reassured?

Look at me! I’m not sick! I can climb stairs and take off my mask. “He flies through the air with the greatest of ease he’s the orange imbecile on the flying trapeze.” Trumpy held a circus rally at the White House Saturday and expected two thousand, but only four to five hundred actually showed up proving conclusively that three in four Trump supporters are smarter than Orange Julius or that they only paid for five hundred. “Come meet Covid-19 this Saturday! Visit Washington’s super spreader hotspot!”

The Federal Reserve and the IMF have said the danger of not injecting a stimulus is far greater than over doing a stimulus. This opinion is shared by The Wall Street Journal and other liberal publications. Those outside of Trumpy world can see the writing on the wall. Penny wise and pound foolish, Trumpy continues to campaign on “I’m not sick!” while ignoring a nation that is sick. I wonder how the First Lady by the hour is feeling. I haven’t heard, it must not be important that your wife has a potentially fatal disease, because you haven’t mentioned her. I am sure she’s fine.

Joe Biden promises that if elected, he will repeal the Trump tax cut. Wall Street answers, “Fine! Whatever! Oh god, please help us!” If you make more than $400,000 per year, he’s gonna raise your taxes! “Cool, whatever!” Those who look to the far shore see Armageddon tuning up for a comeback. Wall Street is acquiescing that Donald Trump is bad for their business model. They are willing to accept four years of everything they detest politically to get rid of him because they know he is an existential threat to their livelihood.

“If FDR hadn’t intervened in your affairs, you wouldn’t have a business.”

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