The hypocrisy in Washington seems to know no bounds. It is all a total illusion, a Kabuki dance for the media and our amusement. All the while keeping our attention from the sleight of hand, the picking of the pockets of the American people for the benefit of the superclass and their servile, toddies that pretend to be honestly debating the issues that determine our miserable fates.
This will end. It will end very badly–unfortunately, before it hits those that deserve it most, it will be the common, hard working and honest slaves to the State that will be punished first. That is what this last week proved once again, as if we should have needed further proof. But take some semblance of solace, even if it might be considered a Pyrrhic victory, this time it will be very, very different. This time no one will be spared and like the presumably protected of the first estate in pre-revolutionary France, once the chaos comes it will end very badly for those that seek to rule.
It is coming and it is inevitable. For those that still live within the delusional world of standard analysis, one of the great predictors, of at least a change in economic direction and supportive financial fortune, is the Philly Feds Aruoba-Diebold-Scotti Business Conditions Index…I would be selling/shorting this chart.
Matt does it again.
Oh, wait, that’s what they aren’t doing. Actually what we’re watching in the “Cromnibus” budget fight, is a stage-managed surrender that was inevitable pretty much from the moment the ink began to dry on the so-called sweeping reform of Wall Street the Democrats passed years ago.
The dominant media narrative this past week has been that Massachusetts Senator Elizabeth Warren, firmly saddled in her high horse, is trying to hold up the passage of the budget over a trifle. In reality, the so-called “Citigroup” provision to kill a rule designed to prevent future bailouts (so named because it was allegedly written by Citigroup lobbyists) is potentially quite an evil and destructive little thing. But the nitpicking counter-spin is already coming hot and heavy.