“Everything you say should be true, but not everything true should be said.” Voltaire
In the span of two weekends the political election of 2024 has carved itself into the record book. We have an assassination attempt on Trump and then the next weekend, Biden bows out of the race with a letter while having covid. This is beyond weird, and weird is what I want to talk about today. One week ago, the Democrats didn’t take Kamala seriously and now the media machine is saying she is young, she is a fighter, and she has what it takes to catapult their party into the next four years. Pardon me for sounding stupid here, are you out of your conniving minds? Is that all it takes? Just put the media machine, the google, the meta, morning news cycle behind Kamala and we can elect anyone? Just load up the teleprompter and tell her to read every word, like Joe Biden and Ron Burgundy did? This has worked for the last three and a half years as the slowly demented walking ice cream cone Biden has fulfilled his responsibilities. If times were still good, I think the Dems might have gotten away with it, but there are just too many people struggling and therefore paying a modicum of attention. The media is full of it. They didn’t think she had a chance two weeks ago and now they are trying to ladle her into the mouths of the populace like baby peas into a two-year-old sitting in a highchair. Nice try CNN.
Now it gets more weird. Trump was ready to put the plane on autopilot and cruise to November. He could play some golf, not say anything stupid and win. He was going to pin the bad economy on Biden and let the American people see a feeble drooling old man and that would have been enough. Now he is the old man and people think he is the second coming of Vincent van Gogh. He can’t exactly pin the economy on Kamala considering she was so bad at her job that the Biden administration’s job was to keep her away from a microphone for three and a half years. If he tries to saddle her with the economic record she can say I was sitting on a saddle at the country fair judging the 4-H heifers, don’t blame me. Besides, didn’t you raise the debt by $7 trillion. He will walk into this every time. He can’t go there because her record on the economy is better than his. She also has a superpower that is being talked about but not nearly enough. Women’s reproductive rights is being mentioned by every female political commentator I watch, and Kamala is going to use that issue like a club. JD Vance is susceptible, and Trump is too. The Supreme Court altered Roe Vs Wade and I think it swayed the last mid term election and I think it will make this race very close. Don’t underestimate how much women love their right to kill an unborn baby. This is the Trump card, pardon the pun.
I have thought all along that it wouldn’t be a Biden Trump showdown although I didn’t know if Biden would withdraw or Trump would be in jail, but now we have a new election. A new election with a candidate that I never thought much about because the Dems and the Republicans both saw her as way too inept, but here we are. I haven’t done this for awhile but go to YouTube and watch Tulsi Gabbard dismantle Kamala at the 4 min mark. I will attach the link if you can’t find it. It is quick and it is with a scalpel. The fact of the matter is the DEI initiatives that Joe Biden loved so much and used for both his VP pick and his Supreme Court pick have now backfired on the Democratic party. Kamala checks off three marks, black, woman, and Californian. She is like a old white liberal man’s dream. If she were an old white man, she wouldn’t be Vice President, not with her record. This is what DEI does, it isn’t good, but what is good is what I am about to tell you next.
Trump donated to Kamala’s campaign, twice. Haha! Yes, I saw the checks on the interweb so it must be true. He will play it off like he did Hillary Clinton and say he donates so he can get a phone call or something, but he donates because he was and probably is still a liberal. If it donates to, hangs out with, and spends money while in office like a duck than folks that is a web-footed creature. The fact is that Trump played the media machine to the right like the media is playing Kamala to the left. How many die-hard Republicans hung out with Jessie Jackson, was a registered Democrat longer than he has been a Republican, donated to Hillary Clinton, donated to Kamala Harris, but somehow the little liberal from Queens can start a tv show, get elected, spend $7 trillion that the country doesn’t have and still get people to think he is the second coming of Ronald Reagan. He is no Ronald Reagan. Reagan spent way more money than he should have, and it hurts me to type that, but Reagan had morality. That is why when he ran for reelection it was a landslide and this was after putting the entire country in the worst recession since the depression. He did what was right and not what was easy. Trump spent $7 trillion because it was easy, when any leader worth his salt would have said no. Now they will be linked forever after the shooting, and it does Mr. Reagan a disservice. However, we can’t elect the candidates we want so we are forced to use the ones we have. Let’s buckle up and grab them by the tomcat then.
So, we have to ask, who wanted Trump dead? I doubt it was solely a 20-year loner that couldn’t shoot straight. I base that opinion on the fact that the kid was in a Blackrock video. Who does that? What is going on in the world? How far is the reach of the Blackrock and Vanguard money tentacles? Do you think the kid knew that the Secret Service would be sleeping on the job? He just wandered over and climbed a shed and laid down and took a shot from a football length and three endzones? I doubt the kid had the savvy, calm, or stones to attempt such a maneuver much less plan this in intricate detail while knowing the secret service wasn’t going to shoot him as soon as he scaled the roof with a gun. That is the part that does it for me. These mass shootings generally take place in gun free zones because cowards don’t like anyone shooting back. There is no way that the kid would have known that as soon as he scaled that roof that a sniper wouldn’t have shot him. If that was a possibility, then there is no way he climbs on that roof. That is just my guess and I think whoever helped it still out there and a threat to somebody again.
There is a term called double hater and about 60% of the country has been polled to be in this class that didn’t like Trump or Biden. I am usually not in groups, but I find myself in this one. Now however, I have also been saying that if Biden drops out the Democrats win and if Trump drops out against Biden the Republicans win. Nikki Haley showed how fractured the Republican party was before the shooting and still is. I’ve had what I assumed were Republicans now say they are voting Kamala because they couldn’t vote for Biden. Kamala also raised a boatload of money in the first 24 hours after Biden withdrew. She has lined up almost all of the political cronies behind her and she seems like she has enough money to fully campaign. Again, I didn’t believe this could happen because the Dems and Republicans both never thought she would be the candidate. I am still at a loss for words which is detrimental to a podcast’s ratings metrics.
I also asked the question why the European leaders were calling quick elections and losing power so voluntarily. I floated the idea that I think the Democratic powers at be want Trump to win and they are going to dump this economy right on his smug lap. We have talked for two years that the Fed is stuck and can’t lower rates and can’t raise rates and keeping them high doesn’t work either. Trump wanted to fire Powell and now he says that he will let him finish his term. Of course he did, you can’t believe anything out of Trump’s mouth. Powell can make or break Trump’s legacy like a emperor in a coliseum. If he raises his thumb and takes rates higher, Trump loses the economy and the country, if Powell points his Thumb down and lowers rates, the inflation coms back and we realize that Trump earned half the first inflation, and he will get the second and bigger dose and Trump will lose the economy. If however, Powell raises his thumb sideways and stays higher for longer like he said he would, the pressure on commercial real estate, banks, private and shadow banking and credit get squeezed even harder. The economy goes into a recession, but perhaps manageable with a lot of pain. This will drive trump nuts like it was doing in 2018 when he had a tantrum and forced Powell to pivot and lower rates again. I think Powell is our Jedi and that has been my position for a long time. He seems weak when he is strong. He could have retired, but now he gets his last two years in office, and I think he is going to drive Kamala or Trump nuts because he is in charge not them.
Powell knows that Biden and Trump are from the same cloth. They are inflationist. Trump cuts taxes and spends and Biden just spends but keeps Trump’s tax cuts. Trump put tariffs on China and Biden kept them there. Trump said drill baby drill but Biden is pumping more oil than Trump ever did. Powell knows that neither will cut spending and if we don’t cut spending then everything else any candidate talks about is not worth listening to. It will end the same, American destruction in finance. 200 years of advantage dusted in 25 short years of shame.
Powell is the only person that can save this country, not Trump or Kamala. He needs to cause a financial crash so bad that it almost kills but doesn’t. He’s chemotherapy. He needs to wipe out certain segments but can’t kill the whole. He needs to scare people so badly that they save not spend. He needs to make housing affordable which means it needs to crash and fortunately the only people hurt are the people that can afford it: the investors and the rich. Rent would then become affordable. He needs to crash the stock market bad enough, but not lose control of the financial markets. If the stock market crashes the traditional rotation is into bonds. That answers our question is who is going to buy the bonds and at what price? The equity investors getting the hell out of dodge and when they lose trillions, they will still be able to afford it. The top 10% of this country control 93% of the country’s stock market. The bottom half won’t notice the housing decline and the bottom 90% won’t notice a stock market crash in their portfolios at least cause they don’t have one. The bond market can rally and take the heat off the banks as they can liquidate some of their positions and this will give a respite to commercial real estate. That is when the bond market will struggle as the back end of the curve uninverts as anyone crazy enough to invest in this country of falling finances and high debt will require more yield and that will be the final nail in the coffin. Bond prices normalizing and giving savers a decent yield will be rewarding good behavior again and punishing those in debt. This will revert to a 5,000-year norm.
This is not an easy dance to pull off though. It isn’t going to be pleasant on the peasants. When stocks fall companies lay off workers so unemployment will go up. This is usually when the central banks cut rates, but Powell has to be careful. With a debt as big as ours and our debt to GDP ratio as big as ours, if he cuts rates the debt to GDP ratio widens on both ends. The debt goes up as automatic stabilizers and social programs kick in and the GDP of a slowing economy kicks in. He has to do nothing, just sit at slightly restrictive and let it all fall. It is his best play. They will yell, kick, scream, and threaten to fire, but sit he must and hopefully he will. He learned from 2018 when he didn’t. He also knows his Voltaire because I think Powell is a duck and there is a lot more going on than what he lets us see. It doesn’t matter if it is Kamala, Donald, or Donald Duck, Jerome Powell is the most important person in America right now and is by far the most powerful.
Sincerely Yours,
C Thomas Printer
On this date in history… 80 years ago to be exact, Soviet forces liberated the Majdanek concentration and extermination camp in Poland.
Also born on this date … female pilot Amelia Earhart. She became the first woman to fly across the Atlantic by herself and she also flew over most of the Pacific by herself.
Thank you for listening today and you can find all of our articles and more on our website cthomasprinter.com.