Perilous Turning Points
It felt like an aimless drift, but US stocks managed to rebound from Monday's dramatics amid a lack of fresh negative catalysts.
That explanation leaves something to be desired, but as BMO's Ian Lyngen put it in an afternoon note, "markets have, to a great extent, slipped into a listless early fall holding pattern as the more relevant events of the fourth quarter loom".
Jerome Powell's first day of congressional testimony amounted to little more than a reiteration of recent talking points. The
The daily press briefings from the White House are more like Larry David comedy skits than a conduit of how and why the leadership in the White House is making life better for all in the country. Regarding the bills, errr, bill, comment. From today’s press briefing:
“McEnany: … So at this point, the onus is really on Speaker Pelosi. We encourage her to send one-off bills, perhaps airline funding, or other elements that we could work through the process to get to the American people. It’s always been this President’s priority to do that.”
So, I conjecture they want one bill for a bailout for airlines who financially engineered their way to pending bankruptcy, one bill for the cruise industry (remember, it’s a great, great industry, tremendous), one bill for oil refiners, one bill to eliminate all estate taxes in perpetuity, one bill to remove funding from “anarchist jurisdictions,” and one bill for Marriot and Trump Resorts. Infrastructure is burning to the ground and permanently flooding in small bits, drip, drip, drip, and it McEnany can’t even through it out there they would support an infrastructure. Because they don’t.
Crony capitalism at its finest.
But don’t tell the populists.
Crickets on the news this evening with regard to fiscal stimulus to help small businesses, to help anybody but the elites to their full serving. Looks like the Senate is focused on the highest priority in the Land…passing the Executive’s pending Supreme Court nominee by end of October. A likely tax evader in a suit, a DB account holder, possibly, says “according to the Constituation” as this person bobbles their index finger on their lips, mouthing hypocrisy and lies.
It’s a given that there will be the equivalent of TV/Streaming/VHS-hosted series in 2041 that is based on events in the 2016-2020 timeframe. Let’s hope the opening scene is not that of a mushroom cloud.
Sorry to see Mitt give in to the pressure. He was the only Republican Senator out there with any backbone having the interests of the American people at heart. Now there are none.
Umm, no. Mitt objects to Trump’s boorishness and antics like embracing authoritarian strongmen. Mitt is simply worried that Trump has galvanized significant enough popular opposition to Republicans and their not so hidden agenda of cementing oligarchic rule in the United States that nothing short of short circuiting the existing system will keep them in power.
Romney is mostly worried about appearances and the potential for a backlash. Packing the courts (especially the Supreme Court) was the raison d’etre for the Faustian bargain that Republicans made (and something that Romney, like all Republicans including Never-Trumpers, favors).
I was too. Too bad.
He would have gained tremendous respect and maybe a leadership role in a post-Trump Republican party…presuming for the moment that there is even a post-Trump future for the Republican party, a future that doesn’t involve youth clad in the color brown.
Romney’s future narrowed today; his chance to ever be President ended today.
Agreed. Any experienced politician when given the choice of doing the right thing and doing the politically expedient thing will ……?
Any Republican who goes against a Republican administration/Republican-lead senate pic for the SCOTUS will simply be viewed as a Democrat and will never have any future leadership role in a post-Trump Republican party. And that is exactly why Romney fell in line on this one.