@realDonaldTrump
Lifelong Republican Steve Schmidt, Founder of The Lincoln Project, nails it:
I wish Trump and Melania an expeditious recovery and hope very much that they will be in good health as they face electoral humiliation, repudiation and the harsh judgement of the
American people on Election Day. Trump’s lying has become one of the most lethal events in our nation’s history. If US mortality rates were what they are in Germany, more than 150,000 Americans would still be alive. Trump’s cruel disregard for the American people has ravaged our
economy, our kid’s educations and fundamental elements of the American way of life.
There is no person in America that has done more to spread Covid than @realDonaldTrump and no one has tried harder to catch it. Trump couldn’t have been more personally reckless than if he went to
Sturgess and licked the doorknobs on the porta-johns. He politicized mask wearing and thus sentenced tens of thousands to cruel and lonely deaths. He has let loose a national insanity that manifests itself in the lunacy of anti-mask protesters storming Walmart’s and supermarkets
in spasms of idiocy and craziness. His political rallies are dangerously delusional events where the advice of public health experts and MD’s is stupidly ignored. Each gathering spreads a disease that kills. It kills here more than anywhere else.
This week has stripped bare the
rotting and vile roots of Trumpism. It began with the revelation that the great conman and tax cheat paid $750 in Federal taxes and owes more than $400 million to undisclosed lenders, much of it personally guaranteed against no discernible income. The debate was a moment of
national humiliation that disgraced the Presidency, the United States and the American people. At the end of the debate Trump incited extremist militia groups by delivering what they interpreted as a weapons ready order from the Commander in Chief. Heavily armed fascist
Proud Boys, Oath Keepers and dozens of white supremacist Groups heard a lock and load order. Ask them. Believe them. Take them seriously. Trump has threatened the peaceful transition of power and intimated violence should he lose. He has made clear that his loss would be THE
evidence of a stolen election.
He has made up false and wild stories about corrupted ballots for the purpose of undermining faith in our election’s integrity. These are unpardonable actions for an American President and they desecrate the sacrifice of every patriot from the
fields at Lexington and Concord to Gettysburg, Normandy and the Edmund Pettus Bridge. Trump has lied to the country on more than 25,000 occasions, assaulted the rule of law, assailed our institutions, stoked racial animus and been spectacularly corrupt. He is singularly
responsible for one of the great tragedies in American history. His campaign is imploding. Paschal, Miller, Guilfoye, Melania, all of them have disgraced themselves and stained the Presidency. They are a wretched, corrupt and self-interested gang of incompetents and malicious
people who have done profound damage to this country in four short years. There should be no political mercy shown towards Trump and Trumpism in this moment.
Mr. Vice President, your duty requires you to order your campaign to put its ads back on the air. @JoeBiden Trump is out
of money. Spend him into the ground. Georgia is close. @MikeEspyMS is close in Mississippi. The Kansas Senate race is close.
Trumpism is an authoritarian and UNAMERICAN ideology that teems with menace and intimations of violence. It is a cult of personality led by a lethal liar
who lacks intelligence, grace, empathy, and competence. Trumpism is a scourge. It is a metastatic cancer. We need to crush it. Should Trump be disadvantaged in this moment, then we should rejoice. Pour it on. Vote him out. No let up. The pace and intensity of attacks should be
Plagarism! My Surprise @realmoney (written in December, 2023)... 1. Donald Trump is convicted of obstruction and conspiracy.
In an agreement between the former President and the current President, Biden pardons Trump in exchange for Trump agreeing to leave the 2024 Presidential
race. Governor Ron DeSantis finishes third in both the Iowa and New Hampshire primaries and drops out of the race -- with Nikki Haley capturing many of his supporters - closing the gap with Trump. Chris Christie drops out soon thereafter while Vivek Ramaswamy hangs on to the
bitter end. Nikki Haley becomes the Republican Presidential nominee
In early September, shortly after Biden wins the nomination, the President suffers a health emergency and, like Trump, leaves the race. If Trump indeed has left the race, Governor Gavin Newsom is selected as the
We are all aware of the Biblical and commercial aspects of Christmas.
Perhaps we should, as we approach the Holidays, listen to what that worldly philosopher, The Grinch, had to say:
“It came without ribbons! It came without tags! It came without packages, boxes, or bags!"
He puzzled and puzzled till his puzzler was sore. Then the Grinch thought of something he hadn't before. Maybe Christmas he thought doesn't come from a store. Maybe Christmas, perhaps, means a little bit more! And what happened then? Well, in Whoville they say That the Grinch's
Here is a preview of my 10 Surprises for 2024 to be published tomorrow on @realmoney
Surprise #1. Donald Trump is convicted of obstruction and conspiracy. In an agreement between the former President and the current President, Biden pardons Trump in exchange for Trump agreeing to
leave the 2024 Presidential race. Governor Ron DeSantis finishes third in both the Iowa and New Hampshire primaries and drops out of the race - with Nicky Haley capturing many of his supporters - closing the gap with Trump. Chris Christie drops out soon thereafter while Vivek
Ramaswamy hangs on to the bitter end. Nicky Haley becomes the Republican Presidential nominee. In early September, shortly after Biden wins the nomination, the President suffers a health emergency and, like Trump, leaves the race. If Trump indeed has left the race, Governor
@realmoney
A Key Theme of My Rosie Podcast Yesterday
* In yesterday's podcast I quoted Alfred E. Neuman, Bob Farrell, Lee Cooperman, Charlie Munger, Warren Buffett, Ben Graham, Rousseau, Voltaire and Grandma Koufax in explaining my ursine market view.
Investors are unjustifiably discounting a "Goldilocks Outlook".
Given the wide range of outcomes (economic, political, social, geopolitical, and market) there are no certainties in an uncertain world.
As an example, expressed below in a tweet by Mohamed El-Erian, one major
concern we have is the foundering of China's economy - remembering that China has been the engine of worldwide economic growth:
Market participants have never been more leveraged and, arguably have never been as unconcerned with value and concerned
@realmoney Trade of the Week - Short $QQQ ($388.61)
With the "S&P Short Range Oscillator" surging to 7.33% at Friday's close from 4.93% - the overbought is now getting extreme.
The weakness we began to see late last week in mega cap technology stocks is likely to accelerate
into the next few weeks of December and early January with large tech holders in the "Magnificent Seven" leaking out positions to be followed by a lot of selling at the beginning of 2024 by taxable participants (pushing gains forward).
Moreover, this chart shows an unprecedented divergence between the Nasdaq and Central Bank balance sheets which could mean regress:
@realmoney @dougkass The Perpetual Liquidity Machine
* More thought on the dirty water of liquidity...
I think of the ginormous amount of liquidity the Fed created after 2007 as held in a huge flat pan - the world economy - with high sides. You tilt it to one end and
the water moves like a tsunami in that direction, you try to keep it from slopping over (to terrorists and Nigerian bankers) by tilting it back and another (hopefully smaller tsunami moves in the opposite direction).
Repeat that over and over again and over years and years, even
an enormous amount of excess liquidity will be absorbed although not a small amount will land with the grifters and con artists.
But it can and is taking a long time.
It is not, in my mind, dissimilar from what happened to Spain and Europe when large amounts of gold and silver