It's official. As previewed earlier this morning, when we reported that according to media reports, Sullivan & Cromwell lawyer Jay Clayton, a long-time favorite of Wall Street and especially Goldman Sachs, has been nominated to lead the Securities and Exchange Commission.
Donald Trump is preparing to appoint another Wall Street proxy to the top Wall Street regulation, supervision and enforcement post. According to the WSJ, Wall Street M&A and IPO lawyer, Jay Clayton, is Trump's leading candidate to become chairman of the Securities and Exchange Commission and could be announced as the nominee as soon as Wednesday.
"The narrative about an improving economy, thriving jobs market, and glorious future is bullshit. I know it. You know it. And your establishment puppeteers know it. But only “fake news” sites would dare reveal these inconvenient truths."
"There are strong grounds to fade this current rally... I believe that moving against the herd mentality, will likely bear fruit in what is probably going to be an even more intense roller coaster ride than what we witnessed in 2016." - David Rosenberg
Seventy year old Donald Trump has assumed the Grey Champion flagstaff. In an increasingly chaotic world, normal working class Americans in flyover country were seeking a leader who could bring order, defeat the corrupt establishment, make tough decisions, and capture the zeitgeist of this moment in history. The ruling elite oligarchs and their fawning minions are infuriated the peasants have dared to resist. In their secretive secure spaces, the elites are plotting with one purpose in mind – this uprising must be quelled.
The giant stock market bubble will now crash. The stock-price obsessed C-suites of corporate America will now panic and begin pitching inventory and workers overboard. We will be in an official recession within 6 months. The Federal budget will plunge back into trillion dollar annual deficits very soon.
"...we surely do not want to unnerve markets by saying anything that would suggest your Treasury Department would undo this modification after January 20. However, the combination of the questionable terms of the original Fed lending and failure to increase the effective stake of taxpayers as part of this deal means that we should avoid saying anything that would identify us with this move."
"These linear thinkers can’t understand why their playbook of lies, misinformation, pointless social justice issues and a myriad of other inane distractions aren’t working this time. They fail to acknowledge that history is cyclical and we’ve entered the phase when generational cohorts are aligned for dramatic sweeping change. The data is there for all to see, but those benefiting from the current perverted paradigm will not be swept aside without a bloody fight."
But after 100-years of mismanagement, the last eight being in the radically extreme, the Fed has scored a big fat rotten tomato. The data still stinks – GDP’s still anemic. But the downside of their actions is downright putrid.