End Times At The OD Corral
Personally, I believe that the plodding, implacable Robert Mueller, white knight of the Deep State, will flush the Golden Golem of Greatness out of office, probably on some sort of money-laundering rap having nothing to do with “Russian meddling.” Anderson Cooper will have a multiple orgasm. Rachel Maddow will don a yellow hard-hat and chain-saw a scale model of Mar-a-Lago to the glee of her worshippers. The #Resistance will dance in the streets. And then what?
I doubt that Mr. Trump will go gracefully. Rather he’ll dig in and fight even if it means fomenting a constitutional crisis. He’ll challenge Mr. Mueller on veering into matters unrelated to alleged Russian pranks in the 2016 election. He may well attempt the self-pardoning gambit. He will have a lot of support out in the Deplorable gloaming. But, at some point, I expect a bipartisan consensus to emerge in congress that the guy has got to go. He’s making it impossible to conduct even the routines of bribery and domestic collusion that Washington exists for. Nobody is getting paid — at least not the bonuses they’re accustomed to seeing.
The 25th amendment is still the best tool for the job. Unlike impeachment, it doesn’t require much in the way of standards of evidence or any Mickey Mouse niceties of due process. It doesn’t take months and months of tiresome legal gamesmanship, no committees or reports. You just get a small number of cabinet members and congressional leaders to agree that the President is “unfit” — which can mean anything, really — and he’s chopped. General Kelly may be enlisted to pry Mr. Trump’s smallish fingers from the doorjamb and shove him into the waiting limo in the porte cochère for the long sad ride up the Jersey Turnpike.
Enter Mike Pence, slated to be a kind of combination Millard Fillmore / Herbert Hoover. Who knows what really lurks behind the bland Pencean facade, but on the off-chance that he may be a decent fellow of average intelligence, the fates have a way of casting such accidental leaders into ignominy despite their theoretical virtues. Surely, the Deplorables of Flyover Land will not like the dumping of their Golden champion one bit. I’d stay away from post offices and other parcels of federal property for a while. If a bunch decides to march on the nation’s capital, it will be a messier affair than anything the hippies pulled off back in the day, perhaps the first battle of Civil War 2.
The financial markets wobbled and puked on Wednesday and Thursday of this week, finally mirroring the tremendous stresses in our politics. They’ve been every bit as jacked on unreality as the two major parties for years now. The markets, after all, are not the economy itself, just indexes of the supposed values of things, stocks, bonds, gold, soybeans, etc., and the Federal Reserve has been jamming hallucinogens down their craw since the last little seizure in 2008.
The markets don’t seem to like the new chairman of the Fed, a cipher named Jay Powell. In his first big public performance since stepping into Janet Yellen’s tiny shoes this week, Powell managed to do a complete 180 in 24 hours on whether his outfit will stick to four rate hikes this year… or maybe just ride to the rescue of the floundering markets with their old tricks of lowering interest rates and “printing” shitloads of new “money” to get those animal spirits going again in the S & P.
Absolutely nothing Powell’s Fed might try, will work. In fact they will only make the cratering indexes fall deeper and harder, along with the value of the US dollar. Interest rates can’t go any higher, anyway, without blowing up half the paper obligations on earth. Businesses will be terrified to transact. You can’t do much with a crippled financial system. The authorities and the news media will call it a “recession” but a sore-beset public will know it is the start of something a whole lot worse.
As a nice side-dish to this banquet of consequences, the Democratic party will be deprived of its only reason to live the past two years: to shove Donald Trump off-stage. And the Republicans will be blamed twice over: once, for not coming to Trump’s defense, and again for getting behind him in the first place. Enjoy the last few weeks of relative normality.
via Zero Hedge http://ift.tt/2t9Xzme Tyler Durden