Wall Street has a private nickname for wealthy investors with bad judgment. They call them muppets. And for decades, Saudi Arabia has been the biggest muppet of them all, while the banks laugh all the way to their bonuses.
An actor wrote an op-ed and ended a sitting president’s re-election campaign, and the media treated it like normal political news. I have been covering Wall Street and Washington long enough to know when something is deeply broken, and this is it.
The Commerce Department just quietly committed $874 million in federal money to semiconductor companies in exchange for minority stakes. This is not a free market. This is the government playing venture capitalist with your money, and you are not invited to the upside.
I’ve been reading the Fauci diary, and what’s in it isn’t a surprise to me. What is infuriating is that the people who should have been asking these questions years ago were too busy making him a celebrity to do their jobs. Here’s what the record actually shows.
Administration officials were on television promising 5% and 6% GDP growth this year. The actual number came in at 1.5% annualized, and I told you this was coming. Meanwhile inflation as measured by the Fed’s own preferred metric is running at 3.7%, nearly double their target, and your real wages just went negative.
Politicians and pundits have been throwing around ‘fair share’ for decades and nobody ever asks the one question that exposes the whole thing as a fraud. I’ve asked it hundreds of times and I’ve never gotten an answer, because there isn’t one.
Seventy Fifth Amendment invocations and counting. The man who shaped pandemic policy for the entire country is refusing to answer questions under oath, and his political allies are still running cover for him.
The Fauci files are out, and the media personalities who spent years calling you a dangerous conspiracy theorist for asking basic questions are suddenly very, very busy. I said I was wrong about Iraq. These people cannot even say hello.
A New York City mayoral candidate is promising to sell groceries 30% cheaper than Walmart. I have seen a lot of financial sleight of hand in my career, and this ranks right up there with the worst of it. Let me explain exactly how this con works.
Washington is running the oldest con in the book: do nothing, promise everything, and tell voters the other side is worse. I have seen this playbook before, and it did not end well for the people who bought in.