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Big Fat Ugly Bubble

The biggest robbery in US history is in progress via the Big Fat Ugly Bubble orchestrated by Trump, Swamp Cabinet and Federal Reserve System. Trillions of dollars are stealthily being transferred from the middle class and poor to Trump, his family and billionaire friends on Wall Street via reckless spending, debt creation, currency devaluation, financial engineering, money laundering, market manipulation and insider trading.

On the campaign trail for the 2016 presidential election, Trump claimed he was part of a populist movement. On September 26th, 2016, at Trump's first presidential debate, he shocked the world by criticizing the Fed for having low interest rates, saying, "we are in a big, fat, ugly bubble..." He promised to reinstate Glass-Steagall, blaming Bill Clinton for repealing it and causing the Dot Com bubble. He also promised to audit the Fed and end the financial engineering that was leaving Main Street behind. These were the two best campaign promises a politician had ever made. But even better yet, he was not a politician who is all words and no action.

Trump said Yellen was a political tool, helping Obama with his false economy/big, fat, ugly bubble driven by low interest rates and QE, warning us that it would end very badly. He told us the unemployment rate was much higher than the fake job reports suggested, Main Street was feeling the pain of a much higher than the 2% inflation of the CPI and the national debt was so high that he was our last hope. Trump was so concerned about the deficit, he said he considered using his own money to try to pay off the debt, but it probably wouldn't leave a dent. If we didn't elect Trump, the country could be so far gone that there may be no turning back; our children and children's children would pay the ultimate price. He was a fiscal conservative who wanted to cut back on wasteful government spending and offered to work for free to fix all our fiscal and monetary problems if he became president. To a populist, what could be better than that?

Trump ran with an America First Agenda promising to end H1B visa abuse, the outsourcing of jobs overseas and illegal immigration causing job losses and reduced wages. He promised to lower the cost of healthcare. He promised to stop the costly, endless wars and bring our troops home. Unfortunately, he could not deliver. Eventually, he would prove all of us wrong for believing that a reformed businessman who admitted to bribing politicians was going to Make America Great Again. He would teach us the hard way that a snake is always a snake. He never had any intentions of keeping any of his great promises. It was all one big, fat, ugly lie.

The day after the election, Trump started saying the economy was great (even though nothing had changed). What was once Obama's big, fat, ugly bubble had become Trump's big, fat, ugly bubble. Since then, conman POTUS has done nothing but make the big, fat, ugly bubble 50% bigger, fatter and uglier while trying to take credit for the entire "expansion" that started in 2008. He just continued Obama's Welfare for Wall Street program and put us so far in debt that our economy may not recover for the next 50 years. People could become so poor and angry that they will vote for a pure socialist/communist like Bernie Sanders who promises to redistribute the wealth. Then the US would end up like Venezuela even faster than it's happening with Trump. Soon, half of America could be eating out of garbage cans and using their worthless dollars as toilet paper.

In 2019, the Fed, under extreme pressure from Trump, stopped QT, reversed normalization, lowered interest rates several times to Great Depression era levels and pretended to have a liquidity crisis. On September 11th, 2019, the began printing money at the top of Trump's big, fat, ugly bubble. Before the end of the year, they were printing $60B to $150B per day via "Not-QE" (AKA QE) and REPOs to buy bonds from billionaires and rig the stock market while monetizing 90% of the debt (similar to a communist country that monetizes 100%). In only 4 months, the Fed increased their balance sheet by $400B, printing money faster than they did during the 2008 financial crisis and making the stock market go up for 17 weeks without a 1% draw down. Meanwhile, when Trump is not personally attacking people on twitter or playing golf, he brags about how well the false economy is doing using the stock market as a report card.

The number of people out the labor force continues to rise. Many highly skilled American STEM workers have become permanently unemployed and forgotten (not counted by Trump's fake jobs reports - the same ones Obama used), while many are forced to train their cheaper H1B Indian replacements (many of them are not any more qualified than the illegals who cross the Mexican border). Yet Trump is actively working with the Hindu Coalition and Prime Minister Modi to try to pass an India First bill, S386, that will give more of our high skilled jobs to India guaranteeing that Indians will receive virtually all the Green cards for the next 14 years (while several new Trump hotels are being built in India). Low-wage workers continue to suffer by the increased inflow of illegals from Mexico (also taking a toll on our welfare system). Yet, no border wall is coming anytime soon, even though the Fed could build 10 of them each day with the money that they print.

In the 3rd year of Trump's presidency, the Fed's balance sheet is over $4T; national debt just skyrocketed past $23T; the government has $200T of unfunded liabilities. And Trump just signed the largest spending bill in history. Trillions of dollars continue to be funneled into endless wars; even when Iraq tells us to leave, Trump threatens to take away their access to the New York Federal Reserve Bank.

We had record retail bankruptcies in 2019. The auto industry is getting destroyed. We are already in a profits and manufacturing recession. Yet, corporations did record stock buybacks in 2019 using Trump's tax cuts and cheap money from the Fed, while at the same time laying off more American workers and outsourcing their jobs overseas or replacing them with cheaper labor from India. We have record commercial, mortgage, college and credit card debt. We have record high housing (+7% annually for 10 years straight), healthcare (up 20% this year) and education costs (+150% in 20 years). We have record income and wealth inequality. 13.4% of Americans are in poverty. More people are becoming homeless. Inner-city violence is on the rise; only a stones throw away from Trump's residence, Baltimore had a record homicide rate in 2019. Yet, not long ago, Trump was criticizing Obama for letting his home town Chicago go to hell. And this, somehow, is supposed to be the greatest economy of all times?

As America continues to deteriorate and get closer to a full-blown economic recession/depression, Don the Con, Big Fat Ugly Bubble Pumper in Chief, Mastermind of a Multi-Trillion-Dollar Robbery, continues to brag about how rich the rich are getting on Wall Street, while the Fed continues to provide them with virtually unlimited injections of newly-printed, free cash on a day-to-day basis to day trade stocks. And it's all happening at a time when half of Americans can't even afford to make an emergency $400 payment. The mainstream media refuses to report anything about the true state of the economy, as their sole purpose is to distract everyone with Russia/Ukraine impeachment stories 24-7 so nobody notices the biggest transfer of wealth in history taking place. This might be normal in a banana republic. But it's not the America we deserve and surely not what any populist would ever vote for.