To hear Sean Hannity tell it, you would think that Donald Trump single-handedly revived America’s oil patch and energy sector and made the US energy independent after decades of heavy import dependency.
Bitter-enders like Sean Hannity have taken to recounting the Orange Man’s lost glory, Among these are the Greatest Economy Ever, National Energy Independence and the purported remarkable success of Operation Warp Speed in swiftly producing a vaccine against the “Wuhan Virus”.
The everlasting irony of Donald J. Trump’s presidency is this: He had all the right enemies, but virtually without exception made all the wrong decisions during his hapless four-year sojourn in the Oval Office.
There is a dangerous pathogen at loose in America, and Covid-19 can’t really hold a candle to it. We are referring to the most maniacal outburst of stock market speculation to ever come down the pike, culminating in today’s riotous 2% upward rip of the NASDAQ from its already lunatic level in the nose-bleed section …
Just call it the-pot-calling-the-kettle black day and be done with it. Janet Yellen is baaaack, and here’s the preposterous hypocrisy she delivered at here Senate confirmation hearing today:
In light of Sleepy Joe’s swell new $1.9 trillion package of more free stuff, it’s time to get out our magnifying glasses again. The purpose is to compute the size of the hole in America’s collective paycheck that purportedly requires such continued, extraordinary beneficence from our not so rich Uncle Sam.
To repeat: The Big Tech Five have become a clear and present threat to free expression and democratic governance not because they are monopolies; rather, it’s because they are so vastly over-valued by the Fed-enabled casino on Wall Street that their managers and executives have been unshackled from the job of profit maximization to indulge …
The striking red line in the chart below is the ultimate manifestation of our boiling frogs metaphor. It is flat as a board and depicts the net income of the Almighty Apple Inc since September 2012. The embedded annualized growth rates (CAGRs) compute to, well, snoozers:
Just because the frogs bask silently and (perhaps) happily in the steadily warming waters, it doesn’t mean that all is copacetic and that the kettle temperature is not relentlessly rising. The foolish amphibians are just adjusting to it without measuring it.