Update II: Speaking of “deplorables” as we did in our first update, Donald J. Trump spoke out on the FED with many of the same arguments we made in our original article. Read the Trump take here: Blasting “False Economy,” Trump Takes on the Federal Reserve.
Update: At the end of our article we linked the disaster Obama economy to Hillary Clinton’s latest race-baiting of Donald J. Trump supporters. When we wrote the article we made reference near the end to “Hillary2016 is now reduced to insulting Trump supporters“. The reference was to Hillary Clinton’s interview with Israeli television and her despicable “basket of deplorables” attack against Trump supporters. At the time we wrote the article we came up with a surprise.
We were surprised that it was impossible for us to find a Youtube or even many Google references to Hillary’s despicable “basket of deplorables” comment. We don’t know if Google or Youtube were blocking access to what was clear to us was a very despicable and very stupid comment by Hillary Clinton. Hillary’s “basket of deplorables” Youtube eventually appeared in our comments section but only in an entire interview, not a selected clip – because such a clip did not exist.
That’s all changed now and many are missing the point about the “basket of deplorables”. For whatever reason the first “basket of deplorables” comment got some attention, but not as much as it deserved. Then came last night and the second “basket of deplorables” comment exploded. Why did “basket of deplorables” go from a curiosity at Big Pink to major explosion?
The reason the despicable “basket of deplorables” comment by Hillary Clinton went from obscurity to prominence is due to Hillary Clinton. Last night at an LGBTQ fund raiser with Barbra Streisand in New York Hillary Clinton once again attacked Trump supporters as a “basket of deplorables”. That’s the point, Hillary repeated “basket of deplorables” because it is a campaign strategy. Granted, it is a stupid campaign strategy, but it is deliberate, not accidental. It’s also doomed to failure.
— Jorge Herrera (@AmericanMex067) September 10, 2016
The idea is to isolate Donald J. Trump supporters and hint to Big Media that the way to protect the Obama third term is to denounce Donald J. Trump and Donald J. Trump supporters as “racist”. Hillary2016 believes that in 2008 the despicable Obama campaign strategy of calling Hillary and Bill Clinton “racists” worked. If it worked for Obama in 2008, reasons Hillary2016, why won’t the “racist” race-bait work for Hillary2016? What goes around comes around. It’s a recycle of the LBJ “Frontlash” strategy against Barry Goldwater.
Hillary Clinton on Saturday has emitted a phony “apology” for her statement. But at the moment the idiots at Hillary2016 are happy they put the basket of deplorables “meme” into circulation. What the saps at Hillary2016 hindquarters don’t understand is that the “racist” card is so played out, all Hillary Clinton has managed to do is drive the softer Donald J. Trump supporters into “silent majority” mode. Soft Donald J. Trump supporters who do not want to be called “racists” will vote for Donald J. Trump but when a Clinton campaign staffer calls or a Big Media pollster calls to ask for their opinion these soft on the outside but firm in the inside Donald J. Trump supporters will lie and say they are “undecided” or “leaning” to Hillary. But come November these “silent majority” voters will vote Trump.
Speaking of “baskets” in the 2008 election cycle we Hillary Clinton supporters loved and played repeatedly a YouTube of another “basket”. Yup, in 2008 every chance we got we played our favorite Youtube. It was the “basket bunch” featuring a lantern-jawed Moose in high heels:
How’s them baskets?
There is no capitalist stock market in America. There is only the FED. The Federal Reserve. “Don’t fight the FED” is the investor strategy in Obama oppressed America. The “welfare queens” of Ronald Reagan’s day are back due to Barack Obama’s purchase of many voters with “gimmes” to ensnare them as slaves to the welfare state. But the biggest “welfare queens” are the corporations and corporate chieftains (and yes, the investors) who have bought into the Obama crony (not “capitalist”) gangster government.
The Obama crony (not “capitalist”) gangster government thugs at the FED have robbed those on fixed incomes and others who refuse to be herded like cows to slaughter by not sacrificing their incomes to the phony “stock market”. For years the Obama economy masters have herded the cows into the crony (not “capitalist”) pens. Now, it is time for the slaughter. Today on Wall Street, the slaughter began.
Rather, today on Wall Street, the slaughter continued. It started with the Bank of Japan. The central banks around the world are in turmoil and the turmoil has now struck Wall Street. It is all very expected and no surprise. The only surprise is the time of the slaughter. The first cow to the slaughter is #Hillary2016.
Here’s some analysis, via Bloomberg News, from a “respected” Wall Streeter who believes Donald J. Trump will be the next president:
DoubleLine Capital Chief Investment Officer Jeffrey Gundlach said it’s time for fixed-income investors to prepare for rising interest rates and higher inflation by reducing the duration of their positions, moving money into cash and protecting against volatility.
“This is a big, big moment,” Gundlach said during a webcast Thursday. “Interest rates have bottomed. They may not rise in the near term as I’ve talked about for years. But I think it’s the beginning of something and you’re supposed to be defensive.”
Gundlach, 56, has built a career as a successful money manager and financial prognosticator. This year, his flagship $61.7 billion DoubleLine Total Return Bond Fund is trailing the benchmark Bloomberg Barclays U.S. Aggregate Bond Index, avoiding high-yield debt, which is up 15 percent, and shunning longer-duration positions. The Total Return fund’s effective duration is 2.4 years, less than half of the index, Gundlach said.
He cited a July low of 10-year Treasuries that didn’t hold as evidence interest rates have hit bottom. The fund manager said rates on the U.S. 10-year bond may surpass 2 percent by the end of 2016.
Bonds tumbled with stocks Friday as central banks start to question the benefits of further monetary easing, sending the yield on 10-year Treasuries 7 basis points higher to 1.67 percent at 11:24 a.m. in New York. The S&P 500 Index of U.S. equities dropped 1.2 percent, the most since June 27. [snip]
Gundlach also stuck to his prediction that Republican Donald Trump will be elected the next U.S. president.
Jeffrey Gunlach is not alone in predictions of a dire future. Deutsche Bank put matches to its hair today too.
It is near impossible for Obama Dimocrat Janet Yellen’s FED to raise rates in September. That would finish off Hillary2016. It’s impossible, but possible, and after today, irrelevant. The Obama economy has destroyed Wall Street capitalism and continues the relentless march to destroy Hillary2016. Selloff:
Stocks sell off as Dow, S&P post worst day since June 24; Fed fears loom
U.S. equities closed sharply lower on Friday as concerns the Federal Reserve might raise interest rates this month loomed following comments made by key Fed officials.
“The Fed is clearly on a choreographed path; it wants to raise rates this year,” said Art Hogan, chief market strategist at Wunderlich Securities. “What the market is trying to re-calibrate is whether that means September or December.”
“You’ve also had some lingering disappointment from Mario Draghi disappointing,” he said.
The Dow Jones industrial average fell about 350 points less than 15 minutes before the close, with 3M and Boeing contributing the most losses.
“The commentary from a voting member that the Fed may be forced to raise rates is important,” said Kim Forrest, senior equity analyst at Fort Pitt Capital. “I think the market needs to understand that there may be a rate hike coming. Whether it’s September or December, it doesn’t matter big picture.” [snip]
“I think this might be the beginning of a correction,” said Chuck Self, CIO of iSectors. “When you look at the sectors, it’s a decently broad decline.” He added that Monday “could be a pretty ugly day as well” since stocks were on track to end the week on a negative note.
Boston Fed President Eric Rosengren, historically a “dove” on rates, started the burn with comments he has switched to “hawk” and for a rate rise. Are we at Big Pink surprised as Wall Street turns to red? No. The Obama economy stinks and all the perfumes of Arabia cannot make the stink go away.
David Stockman too noted the bursting bubble:
The Implosion Is Near: Signs Of The Bubble’s Last Days
The central banks of the world are massively and insouciantly pursuing financial instability. That’s the inherent result of the 68 straight months of zero money market rates that have been forced into the global financial system by the Fed and its confederates at the BOJ, ECB and BOE. ZIRP fuels endless carry trades and the harvesting of every manner of profit spread between negligible “funding” costs and positive yields and returns on a wide spectrum of risk assets.
Moreover, this central bank sponsored regime of ZIRP and money market pegging contains a built-in accelerator. As carry trade speculators drive asset prices steadily higher and fixed income spreads steadily thinner—- fear and short interest is driven out of the casino, making buying on the dips ever more profitable and less risky. Indeed, the explicit promise by central banks that the money market rate will remain frozen for the duration and that ample warning of any change in rate policy will be “transparently” announced is the single worst policy imaginable from the point of view of financial stability. It means that the speculator’s worst nightmare—–suddenly going “upside down” due to a sharp spike in funding costs—-is eliminated by central bank writ. [snip]
In other words, at a point which is month #61 of the current business cycle, and thereby already beyond than the average cycle since 1950, why would any one in their right mind say a market is not bubbly when it’s trading at nearly 20X reported earnings. Indeed, in a world where interest rate and profit rate normalization must inevitably come, the capitalization rate for current earnings should be well below normal—-not extended into the nosebleed section of historical results. [snip]
At the end of the day, the Fed and its fellow traveling central banks have systematically dismantled the natural stability mechanisms of financial markets. Accordingly, financial markets have now become dangerous casinos in which speculative bubbles are guaranteed to build to dangerous extremes as the central bank driven financial inflation gathers force. That’s where we are now. Again.
Isn’t that what Donald J. Trump predicted? Yes. Yes it is.
At about this point in September 2008, John McCain lost his lead to Barack Obama when Wall Street laid an egg. Such was the disgust with George W. Bush the country voted for the false hope and chump change Barack Obama promised. What goes around, comes around. The Obama economy destroyed Wall Street capitalism and now destroys Hillary2016.
The Wall Street phony FED driven prices used to be the only sign of life Barack Obama and the Obama third term could point to as a bright spot in the economy. If was fake. It is fake. Now the bloom is off the fake. It comes at a terrible moment.
Donald J. Trump’s poll numbers are on the rise. In state after state Republican fears that Trump would doom their down ballot candidates are at an end as GOP candidates are winning in Florida, Ohio, Pennsylvania, and North Carolina (in Ohio and Florida at crucial 50%). Even the Politico pinhead Republicans and the #NeverTrump scum realize Donald J. Trump is on a path towards victory.
The Donald J. Trump rise is fueled by Trump’s bold leadership style recently demonstrated in speeches and trips to Louisiana, Mexico, and Detroit, – as well as the disaster which is Hillary2016’s campaign ads and ceaseless race baiting. Hillary2016 is now reduced to insulting Trump supporters and Bill Clinton denouncing “Make America Great Again” as racist even though white southerner Bill Clinton frequently stated “Make America Great Again” when he was president. In 2008 Barack Obama’s campaign denounced Bill Clinton and Hillary Clinton as racists and even declared that Hillary wanted Obama assassinated. Now, anything goes, as what goes around comes around.
Hillary2016, Hillary Clinton, and Bill Clinton, are race-baiting Donald J. Trump. They have forgotten what got Bill elected. “It’s the economy, stupid.” Donald J. Trump remembers “it’s the economy, stupid”.
Further, Donald J. Trump knows the stupid Obama economy kills what is right about America, as well as Hillary2016.