You know, Josef Goebbels popularized “The Big Lie” back in the late ’30s. but it took Donald Trump to elevate it to a fucking art form. But finally, after 3 long years, we’re about to find out what happens when reality meets bullshit at 100 mph, and just how much of that shit Trump acolytes will really swallow when the chips, especially blue chips, are literally down.
Believe it or not, I actually learned a couple of things from Trump’s press briefing on the coronavirus. First, I learned that Melania’s taste in neckwear is as tacky as her taste in men. Really, Melania? Hot pink before Easter? Second, I learned that HHS Secretary Alex Azar is going for that whole Sebastian Gorka look. Fat chance, Alex, you own him, And third, Trump’s shame quotient is now officially lower than his IQ.
There’s Trump, standing at the podium, surrounded by people who have more letters after their last names than Trump has in his last name, and he smoothly and forcefully contradicts every word out of their mouths. Even his HHS Secretary says to get ready for more cases, which is why Trump pulled the rug out from under him live on national TV. But this is a problem, because for pretty much the first time, Trump is pushing bullshit that goes against his own best interest.
For instance, we all know that Trump is a paranoid delusional. He shares those traits with his stumble bum base. Normally, there’s nothing that Trump loves more than an impending disaster, so that he can twist it around to worry his supporters to death, and make them rely on him to solve it. And what could be more dire and desperate than a mysterious super virus, for which there is no cure, possibly being dropped from black helicopters? Fits Trump and his supporters like a glove.
But it turns out that Wall Street hates the coronavirus. So while the entire medical community is spreading cautious alarm that normally Trump would be whipping into a panic and blaming on the Democrats, this time he has to sit there and basically call it a hoax, while trying to reassure Wall Street that the Democrats are making a case of the sniffles into a scare tactic for November.
I want to see what kind of cheap, third rate quacks Fox News finds that will gleefully violate their oaths in order to go onto Hannity and purposely mislead the public as to the actual risks posed by the virus. And it will be fun to see how long the GOP Senate can go on parroting Trump’s tripe, before they finally start having to peel back and accept reality before their constituents move to quarantine them. At what point do people who have subsisted on pure bullshit for almost four years finally start to tune back into reality before it’s too late.
But worse yet for Trump, he’s trying to reassure Wall Street that everything is just hunky-dory. This is bullshit, and Wall Street doesn’t deal in bullshit, it deals in facts and information. And as they learned in the first year of the Trump presidency, when they let his tweets put stocks like Boeing and Amazon on yo-yo strings, bullshit is all Trump has to offer.
Wall Street loves facts the way His Lowness loves his KFC bucket. If there’s so much as a whisper of a takeover on the street, arbitrators try to bribe everybody from corporate execs to the cleaning lady for scuttlebutt. They track executive movements, and try to track the flight plans of corporate jetsl looking to see if they meet up somewhere. All for that single edge that lets them know which way to jump in advance. And Trump is trying to convince them that his brilliant leadership will have the U.S. corona-free within days.
The one thing that the Street hates more than any other is uncertainty. And right now, their two surest sources for “facts” are a Chinese government that lies with impunity, knowing there will be no dissent, and an American government that couldn’t relate a fact if it were under truth serum. Starbuck’s closed up shop, airline, hotel, and resort bookings are in the tanker, cruises will go undersold, and Netflix stock jumped in the expectation that people will stay home rather than risk going to a theater for a movie. Businesses are being told to have all employees possible work from home. And if people aren’t going to work or the movies, then there’s no need to stop at a restaurant for a bite, is there?
Watch for the first consumer confidence numbers taken after the coronavirus went global. If, after a few weeks of self imposed isolation, people realize that they don’t need the excesses like movie tickets and dinners before or after the show, and that they can survive without going into a store and exposing themselves to the virus every day, consumer confidence is going to tank. And if it does, then the long awaited Trump Recession will finally be upon us.
And if that happens, then Trump can’t stop it, and he can’t fix it. Because the normal first step towards bringing an economy in for a “soft landing” at the end of a bull run is to slowly lower interest rates to keep money in circulation, and to keep people spending that money. But the Federal Reserve Board can’t do that this time, because Julius Moronicus beat them over the head to keep dropping interest rates when there was absolutely no reason to do so. Their play book right now is pretty much “Hail Mary.”
So, here we go. I’m sure it’s still possible to arrest the damage, at least in the financial markets, but everything has to go right. The biggest thing will be what happens Sunday afternoon and night. Because that’s when the Asian and European markets will open up for their Monday trading sessions. If they can put the brakes on and stabilize things, that might give US investors more confidence going into Monday morning. But if the major indexes fall Sunday night into Monday, the all of the pressure at the opening bell will be downward. If I’m not mistaken, I believe Trump has a rally in South Carolina tonight, doesn’t he? It’ll be interesting to see how many times he brags about your fucking 401k tonight, won”t it?
To know the future, look to the past.before the insanity of the 2020 election, relive the insanity of the 2016 GOP primary campaign, and the general election, to see how we got to where we are. Copies of President Evil, and the sequel, President Evil II, A Clodwork Orange are available as e-books on Amazon, at the links above. Catch up before the upcoming release of the third book in the trilogy, President Evil III: All The Presidents Fen