Tuesday, March 31, 2020

Fireside Chat

If you can read it, this Washington Post piece by Dana Milbank is brilliant.

https://www.washingtonpost.com/opinions/2020/03/31/fireside-chat-trump-should-deliver/

Coronavirus Follies from the Wingnuts

What follows is a collection of articles that have appeared in the last several days on one single website, Before It's News, (no link-if you really want to see it, you can find it easy enough) that purport to explain the Coronavirus spread in our country as having nothing to do with malicious incompetence from the Trump administration.  I hope this makes it clear how unreachable these people are to any attempt at reason or factual arguments.  They can apparently trust a source that tells them all of these things at once.  It is so depressing.
"The deeper that I look into Tom Hanks and his career in Hollywood the more I am realizing that he is a chosen one to push the Illuminati agenda. He must be an Illuminati Freemason 33rd Degree High Priest."
Tom Hanks is one of the Hollywood pedophiles arrested by Trump.  His claim to have tested positive is just a cover story.
"Pleiadian Delta Forces Send Message To Earth Regarding Coronavirus And Arrests For Crimes Against Humanity!!"
A similar story- this time relating to the long awaited arrest of hundreds of thousands of Democrats for killing and eating babies.
"The connection between the Coronavirus (COVID-19) and Planet X has less to do with astronomy, and more do to with game theory.  As the Planet X image presented in this article shows, it is a matter of months before the world can see PX despite the cover-ups and why the Coronavirus outbreak is a deadly false flag."
Planet X.  And no, this is not a sequel to Plan Nine from Outer Space, but apparently something people actually believe, as an alternative to facing the fact that Trump is a criminal.

"Yahweh Has Given a Messenger to Ring the Bell to Gather the Church - Fulfilled - End of the World Coming "
Of course, these guys are going to get in on it.
"Corona Unmasked: Chinese Intelligence Officer Reveals True Magnitude of China’s Fake “Coronavirus” Crisis"
China did it on purpose, first killing off a good part of their own people, just to make it look like it was a natural occurrence.
"The New World Order’s Dream Come True!
 Finally, their long-standing plot to kill off 90% of the world's population comes to fruition.
What a way to introduce hardcore socialism into mainstream America.
Yeah, it must be the "hardcore socialists."
The Virus they created and unleashed on the world, is the perfect storm to usher in their new world order."
More of that.
"HEADLINES: Oprah’s House RAIDED?"
Because Oprah is a pedophile and child eater too, and the Coronavirus is cover to arrest her.

Blacksun-virus The Majestic Bioweapon Event To Usher In The Dark Kingdom Of William As The Lizard Queen Slithers Aside, Royal Sellouts Include Tom Hanks, Bill Gates, Madonna (Madame X Secret Agent) And Many More!! Coronavirus... AntiChrist King... Make Sense?
No.  Anyway, might as well get the lizard people in there.

36-Minute Video of Evidence That Coronavirus Is Cover for Mass Arrests: Gang Arrests to Prevent False Flag Civil War, .01% ‘Sick’, Quarantine ‘Camps’ Where Sealed
The virus is a move by Trump to prevent the civil war the Democrats are trying to start.
Indictments Are, General Flynn’s Lawyer Reports Massive .01% Child Sexual Abuse
Tom Hanks And Ellen Appear To Be Official Illuminati Spokespeople For Corona!! Chet Hanks Giant Illuminati Tattoo Mystery Continues!! Tom Hanks Visited Epstein Island!! Epstein Island And Ellen Show Both With Same Symbolism!! Why The Strange Royal Connections??
And how many lies can we get into one statement?
Madonna Corona Witchcraft Exposed!! Madonna Corona Eurovision Spellcasting Performance 2019!!
A Madonna performance from last year proves she is in on it too.
End Times, Mark of the Beast , Vaccine Agenda and FEMA Camps
Getting a vaccine when one is developed will be the mark of the beast which will doom you to hell.

COVID-19: 10 Horns, 7 Heads, The Mark Of The Beast
And some more from the book of Apocalypse, proving that this was all prophesied in the bible.
COVID stands for "covert virus infection distruction." 
Who knew?
"Could Homeopathic Therapy Be the Cure for the Corona Virus?"
No.
Bill Gates Is Quite Confident That He Can Leverage The Coronavirus To Make Every Person On Earth Receive A Vaccination With Digital ID
That evil Bill Gates.  You knew he was in on it somewhere.

Epstein Island Celebs Mission IS Corona!! Do You See The Crown On Wilson The Volleyball Yet?
Huh?

Coronaviruses Like COVID-19 Are the Result of Electrical Disease! The flu is not contagious. This quarantine is all a horrible hoax, deliberately inflicted upon the world to usher in totalitarian world government. The flu is not contagious. No flu has ever been contagious.  The flu is an electrical disease. The trigger is connected to seasonal variations in solar radiation, as so many have suggested over the previous two centuries.
No flu has ever been contagious.  Once again, this is what people will believe rather than face the dereliction of the Trump administration.
We hate to break it to you, but the Wuhan coronavirus biological weapon system release was just the opening salvo in a global war that might see the US invaded by foreign troops, led by the communist-run United Nations which have long sought to eliminate national sovereignty from the world stage...Trump and the Pentagon know the coronavirus is just the opening salvo in a new world war
Global war...Communists in the UN...yeah, that must be the explanation.
Ashtar: Military Engaged To Protect Public From Deepstate Retaliation Battles In The Cities, With “Not Human”!… Tanks Heading Towards Elite Homes!!  Hi humanity… does that headline sound silly? It isn’t… the clones have been around awhile.  Remember, the fear attracts the clones…remember there are military forces who are not human and are completely controlled by the deep state.
It's not a virus, it is a clone war, and everyone knows that fear attracts clones.
Viruses are ph sensitive - cured by raising ph with sodium bi-carbonate
Yeah, wingnuts, give that a try and see how it works.
Coronavirus, chemtrails and 5G: Are they all a trojan horse for tyranny?
Had to get chemtrails in there somewhere.
This is Agenda 21 Unfolding in Front of Our Eyes -- Global Totalitarian Police State!
10 Days of Darkness Starts April Fools Day? Whole World Watch These Videos Before April 1!!
Agenda 21- remember that right wing delusion from a few years ago?  The Obama administration was collaborating with the UN to take over the country!  Well, it's back, this time with sickness.
Thousands of Viruses Unleashed! The Entire World is Hiding the Truth!
It's not one virus, it's thousands of them! and everyone is hiding the truth!  Which, if everyone knows the truth (sort of necessary if you are hiding it,) kind of defeats the whole colossal scheme.

Well, there you go, and believe me, there will be more tomorrow and the next day, and judging from past experience, every day for the next century.  They are told all these things at once and more (I didn't get into the many posts blaming the virus on Jews, or the Queen of England,) and they seem to believe them all.  These people are moral zombies, and there is no cure for them.

And a little addition:  This appeared in Before It's News today:

This is apparently a still from a Disney cartoon, showing how Trump and the Patriots are signaling how they intend to conquer the deep state.  So they put it into a Disney movie.  

Be a Mensch, Bernie

Do the right thing.  Drop out NOW and turn all your delegates over to Elizabeth Warren, who has deserved to be the Democratic nominee all along.  This would put her within striking distance of Biden, and I am guessing that the number of delegates she wins from now on might just put her over, or cause a brokered convention.  Bernie has already lost.  It is only a question of whether his ego and uncontrolled anger are more important to him than the country.  And if they are, he is hardly better than Donald Trump.

Saturday, March 28, 2020

Our Great Presidents

George Washington


Abraham Lincoln


Franklin Delano Roosevelt


Donald Trump


This lesson in American progress brought to you by Green Eagle University (not yet declared an illegal fraud, like some "universities" I can think of.)

Friday, March 27, 2020

Thank Heaven That Donald Trump Is Our President

Because, if Hillary were President, Republicans would never let any stimulus bill get through the Senate, screaming from now until infinity that Democrats were about to create a three trillion dollar budget deficit.  They would have never allowed a penny for unemployment relief or any other sort of aid to American workers, and insisted that all of the money go to rich people and businesses, and would immediately start an intolerable din demanding that the money be paid back out of the Social Security trust fund, and with cuts to Medicare. They would trumpet until Judgement Day how this proves that Democrats are incapable of governing.  And the mainstream press would just sit there and say, "well, maybe they have a point."

Deal with it:  they would care about nothing except owning the libs and keeping their corrupt criminal enterprise going until the whole country collapsed.  Of course, that is all they have ever cared about, but at least we can have their hideous behavior this time with a little less attack on Hillary.

Thursday, March 26, 2020

Laugh Line of the Day


From Patheos:

"According to reports, Spradlin, a 66-year-old Christian “musical evangelist,” fell ill while on a missionary trip to New Orleans with his wife...Friendly Atheist reports Spaldrin went to New Orleans to “wash it from its Sin and debauchery.”

Probably by using it all up.  Well, easy come, easy go. 

Tuesday, March 24, 2020

Keeping His Promises, Yeah!

"It can be done. ... It will take place and it will go relatively quickly.  ... If you have the right people, like, in the agencies and the various people that do the balancing ... you can cut the numbers by two pennies and three pennies and balance a budget quickly and have a stronger and better country."- Donald Trump


In 2016, the last year of the Obama administration, the Federal budget deficit was $585 billion, having declined 59% during Obama's time in office, from the mess left by the previous Republican administration. Until recently, the predicted budget deficit for 2020 was over a billion dollars.

Oops...then along comes the Coronavirus. Trump's planned spending on that, or at least his attempted corporate giveaway, because that is the Republican answer to any crisis, will raise the budget deficit to over three trillion dollars.

Yeah, he and his fellow Republicans will whine that this was caused by an unexpected event.  But can you imagine them accepting that explanation from a Democrat?  Screw Republicans, this colossal explosion of the Federal deficit should be tied around Trump's neck like a noose, and jerked as tight as humanly possible.  And yet, I have not seen one source, on the left or in the mainstream press, pointing this out.

Dirty politics to use this issue?  Come on, compared to the way Republicans blame everything on earth on Democrats, this is like a five year old cheating at go fish.  Let's at least point out the consequences that resulted, in significant part, from Trump's dismantling much of our epidemic provention infrastructure, and then ignoring the problem for months, as it got ready to explode.  This was never about anything except getting Trump re-elected, and it is still about nothing else, with his threat to lift stay-at-home orders to push the stock market back up, potentially killing hundreds of thousands to try to fend off for four more years the time when we throw him in prison.  At least let him campaign with that three trillion dollar budget deficit in plain view.


Friday, March 20, 2020

When Will They Tell the Truth?

My world view being heavily colored by my life's experience in the movie business, I have only one question to ask today:

When will the government admit that the people who are dying of coronavirus are coming back to life and thirsting for blood?

Trump's cabinet, a month from now?

Wednesday, March 18, 2020

The Trump Economy is Finally Here

Well, here we are.  As I write this, the New York Stock Exchange has just closed for the day, with the Dow Jones Industrial Average standing at 19,898, essentially exactly the 19,827 that it was the day that Donald Trump took over from Barack Obama, whose two terms saw the Dow increase by 280%.  At its low, the market fell below 19,000, in what has been described as the fastest descent into a bear market in history, representing a 33% decrease in the total value of the stock market in under five weeks.

I want to make what I feel is an important point about this collapse; and that is that, contrary to popular perception (aided of course by the mainstream media,) this collapse has not been primarily caused by the coronavirus pandemic.  To understand this, we can look at the behavior of the stock market during previous pandemics, and that is what I want to do now.  Here are the major pandemics since 1900, and their effect on the stock market:

H1N1 Flu:  This is the most recent epidemic we have experienced, running from April 15, 2009 to August, 2009.  During that time, the Dow Jones average went from 8,130 to 9,500.

SARS:  This epidemic ran from November, 2002 to July, 2003.  During that time, the Dow went from 8,800 to 10,550.

Asian Flu:  This epidemic ran from February, 1957 to March, 1958, during which the Dow went from 4333 to 4080, a modest loss during a period of industrial recession.

Hong Kong Flu:  This epidemic ran from July, 1968 into 1970.  This is the only epidemic that saw significant market decline during its course.  As can be seen from the following chart, this was, however, in the context of a long term stock market decline, which lasted from January, 1966 to July, 1982.




And even in the greatest pandemic in modern times, the 1918 Spanish Flu:

"...the impact of the Spanish Flu on the stock market was minimal. If you look at the Dow Jones Industrial Average in 1918 and 1919, you can see that the stock market was relatively unaffected by any of the three waves of the Spanish flu."

And what is the implication of this information?  Now, I am going to act like an internet loony and put my conclusion in big red letters:

THE COLLAPSE OF THE STOCK MARKET WAS NOT CAUSED BY THE CORONAVIRUS.  IT WAS CAUSED BY THE TOTAL LACK OF FAITH IN ANY RATIONAL HUMAN BEING IN DONALD TRUMP'S CAPACITY TO DEAL WITH A SERIOUS CRISIS. 

This is the truth, and we must hang this truth around Trump's neck like a noose.  He will try every means possible to lie his way out of responsibility for what is happening, and if we allow him to get away with it, he will lie his way into a second term, which this country will not survive.

As evidence of this (if any is needed at this point) about a week ago, anticipating that the day would come when I would have to write this post, I bookmarked the Twitter archive page which contained all of Trump's bragging over the last three years about how he deserved all the credit for the stock market going up.  There were dozens of egomaniacal, narcissistic tweets bragging about himself.  I was going to list a couple of them in this post, but when I went today to that page, here is what I found:

Nothing.  The entire history of Trump's bragging has been erased, in an act that would have gotten quite a laugh from George Orwell.


And finally, here is a chart of the Stock Market, over the last 25 years or so.  You can see from this that the real surge of the stock market started almost immediately when Barack Obama took office, after the catastrophic collapse in the previous Republican administration, and was so strong that it lasted three years into the Trump administration, before his incompetence and criminality finally caused the inevitable.


It is Obama, not Trump, who gave us the last three good economic years, economic stability which Trump has now completely destroyed.  That is the truth that should never be forgotten, no matter how he lies about it, and how his evil party try to shout it down.

Let me be clear:  This country is now far more in danger of a massive depression than it is from the coronavirus.  And the sole cause of this is the Republican party and their leader, Donald Trump. 

Wingnut Wrapup

Not so funny these days, but I thought it would be a good idea to check in on the wingnuts to see what mental gyrations they are performing to avoid facing the utter failure of their demigod Trump.  So, here we go:

Let's just start out with words of reassurance, which the country now so desperately needs:

Katie Pavlich, Town Hall:  "President Trump Reassures America: We're Going to Win"

And you can take that to the bank.  If any are still open next week.

Kurt Schlichter, Town Hall:  "Joe Biden’s Bizarre Outburst Is Everything That Is Wrong With The Democrat Party"

That would be when he told a lying gun nut that he was "full of shit."  No comment from Kurt about Trump delivering an Oval Office speech that nearly caused a depression.  That was not an outburst, it was statesmanship.

Sheriff David Clarke, Ret., Town Hall:  "Black Voters on Democrat Racist Politicians: Nothing to See Here!"

Because there is nothing there, jackass.

Cristina Laila, Gateway Pundit:  "Tyrant Pelosi Smacks Her Hand on Podium"

The horror!  I guess that makes her as bad as Hitler, or at least Idi Amin.  Smacking her hand on the podium!  That will probably kill more people than the coronavirus.

Cristina Laila, Gateway Pundit:  "Barack Obama Pops Off About the Coronavirus"

How dare he? Keep your mouth shut, boy, and learn your place.  This is all your fault, you know.  You and Hillary.

Cristina Laila, Gateway Pundit:  "Pelosi Stutters, Slurs Words and Struggles to Speak as She Fights to Keep Her Dentures in Her Face"

And Cristina is still at it.  Man, she must have packed away the brews last night.

Jim Hoft, Gateway Pundit:  "Dr. Oz on Coronavirus: “This Has been Around. A Lot of People Had This and Didn’t Realize It. 80% of People Had Very Subtle Symptoms”

Believe that, do you?

Jim Hoft, Gateway Pundit:  "Is It Related? Italy Holds the Largest Chinese Diaspora Community in the EU Today – And Now Has the Largest Outbreak of Coronavirus in Europe"

And a little obligatory racism from infectious disease expert (and Stupidest Man on the Internet) Jim Hoft.

Cassandra Fairbanks, Gateway Pundit:  "ISIS Tells Terrorists to Avoid Travelling to Europe For Jihad Because of Coronavirus"

A travel ban to Europe.  So they're taking the same steps Trump is.  Next, they'll be building a wall.

Jim Hoft, Gateway Pundit:  "HORRIBLE! Shitty Google Snipes at President Trump after He Announces They Are Assisting Govt. with Coronavirus Website"

Jim means that it is horrible that Google tells the truth after Trump made up a total lie about them.  Just in case you weren't clear about that.

Jim Hoft, Gateway Pundit:  "AMAZING! President Trump Publishes Powerful Video in Honor of America’s Suffering Ally Italy"

Oh, that'll help.  Well, at least it won't kill anyone, the way his actions in this country are going to.

Matt C. Abbot, Renew America:  "Invoke Saint Corona, writes priest"

Saint Corona.  The patron saint of beer? That might actually help.

Selwyn Duke, Renew America:  "Would a victorious Joe Biden be removed for mental incapacity?"

If the Republicans could get away with it, yeah.

New York Post:  "Trump watched church service livestream on National Day of Prayer-President Trump on Sunday said he watched a livestream of a Georgia pastor's church service"

Sure he did.  Just like he got that coronavirus test, which he was totally unable to describe in a press conference a couple of days later.

Sean Harshey, World Net Daily:  "Coronavirus panic is 'Russian collusion!' 2.0"

See, it was the Democrats who colluded with Russia.  Surprise:  Sean does not have one single fact to back this claim up, just more pro Trump invective.

And now for some Conservative "humor" to lighten up our day:
Because, see, those little Coronavirus fellas can't get between the slats in Trump's wall.  That makes sense.

World Net Daily:  "Being stubborn, rigid may prevent Alzheimer's"

Wow! Trump is safe then.  Does being a complete asshole help?

Clarice Feldman, American Thinker:  "Trump's Ultrasonic Whistle Exposes Vermin Infestation"

At his hotels?

John Eidon, American Thinker:  "Why I Bought AR-15s for My Sons"

Why?  John claims the following:

"According to the Washington Post, 91% of Trump coverage by the three broadcast networks, which include ABC, is negative."

Well, an assault rifle will really help your kids deal with that.  No, the real reason you bought AR-15s for your sons is that you are a dick.  Deal with it, John.

Taylor Lewis, American Thinker:  "Liberals demand federal coronavirus crackdown from president they want to impeach"

Boy are those liberals crazy.  They impeached him for his high crimes, and then still expect him to do his job.  Everybody knows that when Republicans acquitted him that gave him the right to commit any malfeasance or crime he wants.  It's in the Constitution! In the part of the second amendment that is in such tiny print that only right wingers can read it, the liberals all being too stoned.

Peter Skurkiss, American Thinker:  "Why the rich favor the Democrats"

Coming tomorrow, "Why the Pope and the Easter Bunny are the same person."

Loyd Pettigrew, Town Hall:  "There is a hidden benefit to the COVID-19 disruption unknown to most. This is an amelioration of the progressive brainwashing in most colleges and universities"

Otherwise known as teaching.  This is a hidden benefit to Republicans, of course.

Claudia Rosett, PJ Media:  "This Heartwarming Video Trump Tweeted Amid the Coronavirus Will Have You In Tears"

Yeah, because it reminds me that he is still President.

And this item, because of course they will try it:

Matt Margolis, PJ Media:  "Will the 2020 Election Be Postponed Because of the Coronavirus?"

Get ready, it's their backup strategy if spending several billion dollars to smear the Democratic candidate doesn't work.

Before It's News:  "How Many People Actually Have the Coronavirus? Possibly None at All"

Yeah, right.  Believe nothing except the most lunatic thing you hear.  And, I think, it's time for another little bit of right wing humor:

See? The entire stock market crash is all Bernie and the Democrats' fault, because Socialism!  And if you don't think they all believe that, you haven't been paying much attention the last forty years or so.

Kurt Schlichter, Town Hall:  "Chinese Coronavirus Pandemic Demonstrates Who Are The Idiots...Communists are terrible.Our establishment is terrible.Our media is terrible.Democrats are terrible.Never Trumpers are terrible."

And can you guess who isn't terrible?

"Trump himself has the amazing ability to cause the masks to fall and the truth to come out. Communists, our establishment, the media, Democrats and Never Trumpers have managed to all made fools of themselves. You really gotta Wu-hand it to them."

Wu-hand.  I guess I will never understand wingnut humor.  Um, and while we are on the subject,

"By coincidence, the threat of a pandemic of disease in the context of a pandemic of liberal insanity is a theme of my conservative thriller Wildfire. My latest novel is Collapse, and the two other entries in the best-selling series, People's Republic, Indian Country, describe an America post-liberal victory, with all the failure and misery that entails, while mocking them mercilessly. Get them all"

Because what's a little Conservative lying without at least an attempt to grift some money off of it?

Scott Morefield, Town Hall:  "The Left Is Perfectly Fine With Any Coronavirus Measure, Except This"

And what is "this," according to Scott.  Get ready for it:  Build the Wall.  Next, we'll be hearing that there is no way to stop Coronavirus except to have more Senate hearings on Hillary's E-mails.

Ross Marchand, Town Hall:  "Smart Tax Policies Better than Coronavirus “Stimulus”

Hey, the right answer to the crisis is to give money to the rich, not the poor, and while we are at it, bankrupt the Social Security trust fund and unemployment funds.  Of course it is.  That's the right answer to everything.

And just let me finish with a note about what I haven't seen online lately:  any loud-mouthed bragging about how Trump all by himself drove the stock market to ever greater heights.  Wonder why that is?


Tuesday, March 17, 2020

Happy St. Patrick's Day

A special song for St. Patrick's Day 2020:

Monday, March 16, 2020

Fool Me Twice...Won't Get Fooled Again

Fool me ten thousand times, and I must be part of the mainstream press.

So Donald Trump apparently made some kind of appearance today where he managed to seem rational for about half an hour.

I turned on the TV to see how they were covering the latest 3,000 point collapse of the Dow, and instead was treated to an endless sequence of anchors and guest pundits raving about how serious and well informed Trump was.  Finally, he gets it and is doing a great job as President!

Apparently none of them can remember the first two years of his administration, when every time he ceased acting like a mentally deficient, raving madman for five minutes, the press declared that he was finally "pivoting" to being Presidential, even though everyone with half a brain knew he was not capable of being anything but a narcissistic jerk, no matter what was happening around him.  Seemed like that notion had finally withered away in the face of overwhelming evidence of what he is, but apparently not.  We are now, I guess, going to be treated to the Presidential Pivot, 2020 version.

Here is the truth:  Trump is a stupid and vicious man who cares about nobody but himself.  What he is worried about in particular is the fact that, the minute he leaves the White House, he is going to spend the rest of his life as a criminal defendant in one court or another.  So, nothing means a thing to him but winning the November election.  With the utter collapse of the market, he has lost the biggest lie he had to tell about how great he is, and it has forced him to listen to people that tell him he has to act sane.  But we have seen a similar story from him a hundred times already.  You know that he will be back to his usual abominable behavior in almost no time; you can take that to the bank, which is more than you may be able to do with your 401K in a couple of weeks.



And a Little More, from a day later:

Tengrain:  "Our Failed Political Press who were just praising Hair F├╝ror for his “tone” yesterday, you did hear him today, right? You got played for suckas again."

And more, a day later:  From Talking Points Memo:

"Trump Presser Goes Off The Rails With Repeated Attacks On Media...President Trump repeatedly went after the media during a coronavirus task force press briefing Thursday, saying that he should kick out all but a handful of reporters he likes.

“We were very prepared. The only thing we did not prepare for was the media,” Trump said when asked about testing shortages as the coronavirus began to spread domestically."

And sorry, Tengrain, they are not suckers, they are collaborators.

Aaaaand...It's a New Record!

Congratulations, everybody.  The stock market just closed, with the Dow Jones industrial average having fallen 2,997 points, setting another world record in Donald Trump's string of the largest point losses in history.

What is more interesting to me is that this represents a percent loss of 12.93%, just managing to outpace the 12.82% that the market lost on October 29, 1929.  I wonder when we are going to start seeing businessmen jumping out of skyscrapers again.

I must add, just for fairness, that the greatest percentage loss in a single day, a colossal 22.61%, still belongs to that Republican Saint, Ronald Reagan, but of course, Reagan totally failed to put together a seemingly endless series of days like today, so I think we now can declare Donald Trump the world champion stock market destroyer, beating out the previous title holders, Reagan and Herbert Hoover.

Just to be clear, this means that the market has lost just a shred under 30% of its value since February 12.  Bet you can't wait to see what happens the rest of this week.

Thursday, March 12, 2020

Boy, That Went Well

President Trump, after his Oval Office address last night, when he didn't know the microphone was still on:



I guess that pretty much shows how much he really cares, or even understands what is going on, better than his eleven minute, nearly somnambulistic address did.  And if you wonder how the rest of the country responded to his attempt at inspiration, you can just look at the stock market, which his address was designed to stabilize.

Here's the chart, and it is not a pretty picture:
This is the largest point drop in the history of the Dow Jones average, now giving Trump's Presidency the 13 largest daily point losses in the history of the Dow.  It is, if you are interested, the fourth largest daily percentage loss in history, beaten only by the Reagan collapse in 1987, and two days in 1929, marking the beginning of the Great Depression.

Here's what happened today: Immediately upon opening, the market began collapsing, resulting in an early suspension of trading*, which probably prevented a 4,000 or 6,000 point collapse today.  Then, when the trading resumed, it drifted lower, until the Fed (undoubtedly reacting to a bullying rage from Trump) announced an absolutely unplanned injection of half a trillion dollars into the economy.  You can see the result in the chart above, starting a little before 1:00 pm.  That worked great- for about fifteen minutes, and then the market resumed its crash, essentially throwing all that money in the trash.

The final result? A 2,300 point drop in the Dow.  Here are the numbers, if you care:

Yesterday's close        23,552
12:50 Today               21,360

That is a loss of 2,193 points

1:05 Today                 22,648

That is a gain of 1288 points in 15 minutes, but then the steam ran out.

Close Today               21,524

A loss of 1,124 points, just about wiping out the 15 minute rally.  I hope Trump enjoyed it while it lasted.

This brings the total losses in the Dow Jones average, from its peak exactly a month ago, to over 27%.  By comparison, consider this:

"The stock market crash of 1929 was a collapse of stock prices that began on Oct. 24, 1929. By Oct. 29, 1920, the Dow Jones Industrial Average had dropped 24.8%, marking one of the worst declines in U.S. history. It destroyed confidence in Wall Street markets and led to the Great Depression."

As of today, the collapse of the Trump market has now exceeded the first onslaught of the Great Depression. 

And here is a historical lesson we should all have learned by now:


This shows the Standard and Poors index from 2008 to the present.  In the last year of the Republican George W. Bush administration, the market lost half its value, with the Dow descending from 14,066 to 7062, and bottoming out one month into Obama's first term.  In his eight years, Obama saw the Dow rise 280%, or an average of 35% per year.  As of today, the first three years of the Trump administration saw the Dow go up 8.6%, or a grand total of 2.9% per year- less than one tenth of what Obama brought us.  And who knows what is going to happen tomorrow, or next week, or next month?

The truth is that, thanks to the ministrations of Donald Trump, the nation is on the verge of a depression, and nobody in the mainstream media seems willing to state the truth clearly.  And here is more truth:  Of the 20 greatest daily point losses in the history of the Dow, 17 happened under Republican administrations.  Three happened under Democrats, including two in the FDR administration that were clearly aftershocks of the 1929 crash, and one in 1917, during World War I.

If we have any hope of economic survival at this point, it is only going to come through crushing Republicans and their lying economic cant, which was designed for nothing but to loot the economy on behalf of the super rich.  This Republican incompetence and criminality must be a central issue in the coming election.  We cannot afford to fall prey to Republican blandishments; if we do it again in November, I cannot see any way that the country could survive the next four years.


Just a note:  The provision to suspend trading in cases like this, which probably prevented today being remembered in history as the start of the Second Great Depression, is not an old law.  It was part of the Dodd-Frank controls put into place after the 1987 collapse.  Donald Trump has done everything he can since becoming President to do away with that legislation.


Wednesday, March 11, 2020

Green Eagle Gazes at the Insanity

With today's 1500 point loss, the Dow Jones average has now lost 20% of its value since its high just a month ago.  That really doesn't make Donald Trump, who has based much of his claim to be the greatest financial genius in history on the rise in the Dow, look so good, I guess.  This is causing considerable gyration on the part of Trump supporters, who are certainly not going to allow even the thought that the stock market collapse is in any way a result of his incompetence. 

What I am embedding here is a 15 minute video by a stalwart Trump supporter and Qanon believer, offering what I think I can confidently say is an almost unbelievably deranged account explaining how all of this is just part of Trump's plan to make the economy stronger by making it weaker. The creator of this video has spent the last three years or so issuing almost daily releases predicting that Trump's revenge against the deep state and the evil bankers is within days of materializing.  And here he is again, without the sense to chill for a few days, and hope that it all vanishes in a puff of smoke.

I know that these things are not to everyone's taste, but if you are interested in truly preposterous economics, you may find it amusing/appalling.


Tuesday, March 10, 2020

I'll Just Say It Here First

Trump's plan to "deal with" the Coronavirus epidemic by stopping collection of payroll taxes is nothing but a way to further damage Social Security funds to make it easier for the Republicans to destroy Social Security if he is re-elected.

Monday, March 9, 2020

Virus

This short post is in reply to (and agreement with) Flying Junior, who said in a comment, "No way it's the virus."

What this situation reminds me of is the start of World War I.  We were all taught that the war was started by the assassination of Archduke Ferdinand in Serbia in 1914.  The truth is that the origins of World War I go back at least to the early 1890's, when Kaiser Wilhelm II pushed Otto Bismarck out of the German government, and the careful balance of powers that he had created began to unravel.  It was only after numerous incidents that brought Europe to the brink of war- the Agadir and Morocco crises, the English and French fight over Egypt and the Sudan, two Balkan wars that have almost been forgotten- that things had reached a point so explosive that what might have been a fairly minor event managed to push the continent into war.  In the same way, what we see here is the result of criminal mismanagement of the economy by Republicans, that has been building at least since the Reagan administration, and is strikingly similar to the way the Republicans virtually deliberately created the Great Depression and caused World War II.  And once again, it has been their lickspittle servility to the hyper-rich that caused the whole thing. 

The market dropped over 2,000 points today, not only the largest point drop in the entire history of the Dow, but well over double the 778 point one day drop brought to you by George W. Bush.  Trump now owns the 11 greatest daily point drops in the history of the stock market, and sixteen out of the top 20, the other four belonging to Republican President George W. Bush.

Way to go, Greatest Businessman On Earth!

Saturday, March 7, 2020

Why Bernie Scares Me

There is certainly no more idiotic example of both siderism than the claim, heard from Republicans and a significant part of the mainstream press, that Bernie Sanders is the left wing Trump.  Sanders is a principled man who has taken reasoned positions on the issues and stood by them for years, and Trump is nothing but a criminal.  Still, there may be a similarity, pointed out by Paul Krugman in a tweet this week, about why Sanders has succeeded while the more qualified Elizabeth Warren did not:

"And it didn't win over the Bernistas anyway, because they're only partly about progressive policy; they want someone who channels their sense of grievance. Warren wasn't their type precisely because of the thoughtfulness that attracted her supporters"

And there is the story.  Bernie is not just about the issues, he is about chanelling his followers' anger and sense of grievance, and in that respect, he is indeed like Trump, who built his whole appeal around anger and grievance.

And we should have learned from Trump what a  malign thing it can be to create such an enraged base, whose emotions inevitably overwhelm any sense they had.  This toleration of the lower instincts of his voters is what enabled him to move past Warren, but it is just as unforgivable a thing to do as it was for Trump to have done it.  If both sides in this country give in to hatred and anger, we really are doomed, and as far as I can see, Bernie is willing to unleash that genie if it gets him what he wants.

I find myself thinking the inconceivable the last couple of days.  Biden would be, I think, the most lame President in American history, but I have had the notion that maybe I would prefer him to Bernie and his army of angry intolerance.

Thursday, March 5, 2020

Still Doomed

Well, I think I will put off opening my new business, the Wuhan Bat Kitchen, for a couple more weeks.

I have commented on the instability of the stock market lately, and how that is scaring me more than the total point drop.

I just want to point out that in the last nine trading days, since Monday of last week, we have seen 5 days of 1000+ swings (well, one was 999 points,) two days of 400 point swings, and only two days that were less volatile than that.

Just for reference, before last Monday, there were exactly two days in the history of the stock market with 1000+ point swings.

And yet the press is treating this as a minor story, like something that is totally normal.  That is bound to be a big help moving forward.  And for those of you that think that this is all due to the Corona virus, this never happened before.  Without a major perceived weakness in the economy, investors would not be spooked like this.

Wednesday, March 4, 2020

Good Work, Mike

If you need any evidence of how damaged our electoral system is, consider this list, which I have shamelessly stolen from the Washington Post:


Where Bloomberg spent on ads, and where he won vote 
In states with at least 95 percent of precincts reporting
STATE SPENDING PER VOTE
Minn. $220
Tex.            $170
Vt.              $170
Ala.           $170
Okla. $130
Tenn. $100
N.C. $90  
Va.               $60


The fact that such a thing is even possible in our country is a condemnation of not just our electoral system but the economic unfairness that has placed the resources in individual hands to tamper with elections this way.  And the fact that it didn't work means nothing; if we let this go on, soon these super-rich, self-entitled sociopaths will find a way to make it work, unless we stop them. And that requires action far beyond limits on campaign spending, to see to it that nobody has the means to engage in this sort of behavior.  A large part of the wealth of these few hundred families must be sacrificed to protect hundreds of millions of us from oligarchy and dictatorship, and to hell with their "right" to be that rich.  The alternative is disaster.

Tuesday, March 3, 2020

Hold Onto Yer Hats, Boys, We're Doomed!

Donald Trump carefully managing the economy in a time of crisis

Well, after a one day respite in the collapse of the stock market, what is happening today, which although possibly not the greatest point collapse lately, is perhaps more insidious:  A frightening level of instability which might very well presage a true disaster.

Here's the account of what is happening in the Washington Post:

"The markets plunged in early trading...Stocks bounced back at midmorning, after the Federal Reserve announced it would slash the benchmark U.S. interest rate by half a percentage point, lifting the Dow Jones industrial average by 300 points.

But the euphoria was short-lived; sending the Dow tumbling more than 560 points before reversing course again. Just before 2 p.m., the Dow was about 800 points in the negative column, or 3 percent. The Standard & Poor’s 500 and Nasdaq composite, meanwhile, were off about 2.8 percent."

The Fed said today that "The fundamentals of the economy remain strong."  That, of course, is why they resorted to a panic-driven cut of interest rates.

Here's today's story in a little more detail:  The market briefly entered positive territory today, but that lasted literally less than fifteen minutes, from about 10:00 to 10:15.  It then returned to the swift collapse that we witnessed last week.

That collapse was arrested by the announcement from the Fed that they had once again succumbed to Donald Trump's bullying, and were lowering interest rates by half a percent; an amount not seen since the 2008 Republican economic collapse.

Sure enough, this artificial goosing of the stock market managed to drive the Dow back up- from 11:30 until 12:10, a grand total of forty minutes!  After which it again returned to its collapse.  As I write this article, at 3:10 Eastern time, the Dow is down 671 points, although profit taking in the last hour is likely to give the market a slight boost before closing.

Now, we need to face this reality:  Unjustified tampering with interest rates to benefit a political actor inevitably gives the stock market a boost, but there is always a price to pay.  As governments get closer and closer to zero percent interest rates, they lose the most important tool they have to deal with economic instability.  And it is the instability that worries me now, more than the actual drop.  Trump will do anything to make the economy look good between now and election day, and then leave us to pay the price, which could be a depression that may never really end.  And if Trump wins, through whatever combination of fraud and treason he can muster?  I want to repeat my belief that the one single reason we had the worst depression in history in 1929, and not in 2008, was because in 1929, we had to wait over three years for a Democrat to take over the Presidency and stop the insane Republican mishandling of the economy, whereas in 2008, we only had to wait three months.  If the Republicans are able to maintain their stranglehold on the government for four more years, and given the already serious weakness of the manufacturing sector in the United States, I do not see how we can ever emerge from the collapse.

Have we traded away our future for a forty minute rise in the Dow?  Stay tuned, folks...the World's Greatest Negotiator is on the job.



Update: And here is Paul Krugman making the same point I was making about Trump having squandered the government's ability to lower interest rates to avoid an economic collapse:



And just to note, there was not a burst of profit taking at the end of today's trading session; the Dow ended up down 786 points, losing another 115 points in the last fifty minutes of trading. Can't wait to see what happens next.


Update No. 2:  We learn from the Washington Post:

“The Fed went a little early,” said Jamie Cox, managing partner of Harris Financial Group. “Everybody knew the Fed was going to lower interest rates, but they left markets with a lot more questions than answers. That’s why the early-morning bounce was quickly sold.”

The Fed went a little early.  Yeah, that's the reason why what should have sent the Dow soaring instead produced a 40 minute disappearing bounce.  Nobody in the mainstream press seems to be expressing the opinion that what caused this disaster was the fact that the Trump administration has screwed the economy with a red hot piece of number 14 rebar, so there is nothing left to cushion the market against sinking to oblivion.

Oh boy, just a few hours until the roller coaster starts up again.  See you tomorrow.