WASHINGTON – Clearly, Mr Market wants to append a Santa Claus Rally 2020 leg to last month’s Thanksgiving Rally. But now he’s backing and filling (mostly backing on Friday). It seems he’s awaiting some kind of Federal stimulus package. But by the day, that package appears more and more likely never in time for Christmas. Or even New Year’s Day. Thanks to the usual political intransigence in Pelosi-Land.
Bipartisan compromise definition: When the GOP loses
The reason, as usual, is that the implacable Nancy Pelosi is doing her usual negotiating game, looking for a “bipartisan” compromise to get legislation to the President’s desk. But by “bipartisan,” Fancy Nancy actually means she wants the already weak-kneed GOP Senate to knuckle under to match her desire to send more taxpayer money to impecunious Blue State governments to bail out their wretched and badly declining balance sheets. That would gladden all hearts in Pelosi-Land.
Most of which, sad to say, are made more wretched by the day do to their headline drive to eliminate the middle class (through higher and higher taxes) and destroy as many small businesses as they can by upping the house arrest ante for struggling average citizens via overly restrictive, arbitrary and generally ineffective (and arguably unconstitutional) lockdown regimes, because coronavirus.
Wealthy enclaves vs surrounding favelas: The new US urban model?
Apparently, states like California are looking toward the Latin American model of urban planning. Newsom, et. al. completely ignore non-urban residents of their states because they no longer matter in elections any more.
Instead, they strive to create luxurious and expensive inner-city urban paradises for the rich while consigning the rest of their wretched residents to live in the equivalent of favelas, the disgusting, drug-infested, poverty-ridden and largely hopeless slums that ring these fancy urban cores.
This plan doesn’t work so well in cities like LA, San Francisco and, lately, Austin, Texas because, for some reason, the mayors of these cities also feel the need to allow filthy, urine- and feces-encrusted tent cities to pop up in their overpriced fancy neighborhoods, which is not exactly the dream their residents had expected. It’s insanity, really, but what the heck? The super-ignorant rich, which the media regards as our betters, vote for the leftist clowns that enforce these asinine policies.
The latest sham Federal stimulus “negotiations.” Pelosi-Land vs the Deplorables. And Santa…
Which gets us back to Pelosi and her budget charade, the one continuing to frustrate Santa Claus Rally 2020 fans. I suspect that, barring a break reasonably soon, Pelosi plans to “solve” the impasse this January when she and her Vote Fraud Squad have stolen the two GOP senate seats in Georgia’s already-gamed runoff elections.
That will allow Pelosi-Land to jam through the most goody-packed and useless “stimulus bill” since Obama’s $750 billion dollar gift to public employee unions early in his first term. With two branches of the government in radical hands and with the Supremes terrified into complete submission to the radicals, the destruction of America will have begun with a vengeance.
I suspect that while America’s biggest Robber Barons aren’t worried about this since they’ve already bought off tax breaks that will keep their wealth clear of the next Fiscal Holocaust, the average fund and shareholder class is getting nervous about investing more in the current, overpriced market.
A fading hope for a new stimulus package has investors, umm, feeling Blue
And so the current stimulus impasse kept averages hung up this week. Thus, they continue to trend down in bits and pieces. A genuinely bipartisan final stimulus bill would be a surprise. But it’s one I don’t expect, having lived in this now most-corrupt of major capital cities for nearly 50 years now. But a miracle like this, should it happen, would shoot stocks to the moon, enabling a Merry Christmas for all. And a follow through on the tentative start of Santa Claus Rally 2020.
Assuming America’s governors have any intention of allowing the rest of us to actually celebrate Christmas this year. (With the proud exception Governors Noem, DeSantis and a few others.) Let alone allowing Santa Claus Rally 2020 to unfold in all its glorious bullishness. Seems the weak-kneed pols have already traded the North Pole for a vacation in Pelosi-Land.
On that Scrooge-like note, let’s relax this weekend and vow not to watch any network or cable “news” channels. Count on them to work 24/7 to highlight real or perceived negatives. Like telling us to forget about Christmas. Like encouraging us to fear the Angel of Coronavirus Death. Or ignoring the growing constitutionally-based lawsuit filed by the State of Texas and other states against blatant election fraud. The lawsuit that calls out the clearly fraudulent ballot box stuffing by “swing state” big-city government hacks. Nothing to see here.