The Sound and the Fury | Australian Markets

‘It’s not who you already know. It’s what you already know.

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Until the Big Man takes over.’

–Bill Bonner

The latest news, from Associated Press, tells us more about how America’s ‘Caesarist’ authorities capabilities. AP:

Goods that adjust to the 2020 United States-Mexico-Canada Agreement that Trump negotiated during his first time period are excluded from the tariffs.

Canada’s central bank says 100% of vitality exports and 95% of different exports are compliant with the trade pact, referred to as USMCA. The Royal Bank estimated that just about 90% of Canadian exports seem to have accessed the U.S. market obligation free in April.

Canadian Prime Minister Mark Carney stated the dedication of the U.S. to the core of USMCA, reaffirmed again final week, means the U.S. average tariff fee on Canadian items stays one of its lowest, and over 85% of Canada-U.S. trade continues to be tariff free.

Tariff free? What was all that discuss of a 35% tariff tax?

Earlier this 12 months, we guessed that the trade struggle with our neighbors was principally for show; it will rehearse the spat Donald Trump had with them during his first time period. Full of sound and fury, it ended up signifying nothing.

Then, when The Donald went back on the warpath, it seemed like this trade struggle would do critical harm to the world financial system, after all.

But wait…there was a pause…a delay…a renegotiation…and — it seems — an exception.

The substance of US insurance policies could not change as a lot as people assume. But the type could be very totally different.

The huge evolution of the US authorities from ‘neoliberal,’ more-or-less ‘consensual’ democracy to a ‘Big Man’ or ‘Caesarian’ type has been broadly famous. It is a shift of energy from the legislature to the govt…from the rule of law to the rule of the Big Man, much like the shift in Rome in 21 BC, when Augustus upstaged the Senate to rule the empire.

The Democrats are, of course, branding the Trump administration as ‘authoritarian.’ They’re not improper about it. But they don’t point out that it was they who offered a lot of the substance – limitless spending, limitless govt energy, and limitless backing for Israel. As for the type, they wouldn’t thoughts it in any respect if the similar heavy hand had been at the finish of Hillary Clinton’s arm.

Good or dangerous, whoever’s fault it’s…the Big Man now has his huge derriere in the huge chair in the huge white home on Pennsylvania Avenue.

Prior to Donald Trump, for instance, it was presumed that the statisticians had been sincere quantity crunchers…and that POTUS wouldn’t presume to argue with them. But now, the similar man who thinks he can scale back drug costs by ‘1,500%’ thinks he is aware of what the employment numbers ought to be.

Of course, the numbers do under no circumstances imply what most people assume they imply. But not less than they had been purported to be deceptive on a non-partisan foundation…giving false alerts to each Republicans and Democrats alike.

And the numbers this 12 months have usually flattered the Trump crew. For May and June, the BLS initially reported 291,000 new jobs. Last week’s revisions worn out all however 33,000 of them.

Donald Trump didn’t object to the outdated numbers. They appeared to show that his financial system was, as he put it, “BOOMING under TRUMP.”

The new numbers are the ones he didn’t like; they confirmed that his financial system shouldn’t be so great after all.

But in contrast to different presidents from ourmore ‘consensual democracy’ days, who would have accepted the new numbers for what they had been — statistical noise — the Big Man desires the BLS to get in concord with him and sing his praises. Now the distortions will no longer be random mumbo jumbo however a deliberate attempt to bamboozle the public.

I’ve directed my Team to fire this Biden Political Appointee, IMMEDIATELY.

She might be changed with somebody a lot more competent and certified.

The Big Man additionally claims to know at what rates of interest the Fed ought to make credit out there to member banks:

Jerome ‘Too Late’ Powell, a cussed MORON, should considerably decrease rates of interest, NOW.

Presidents have typically tried to get the Fed to loosen up — to help them win an election, for instance. But by no means earlier than has a POTUS publicly described the Fed head as a ‘moron.’

This is one thing totally different. It’s Big Man authorities of a explicit kind.

But how far will the Big Man go?

More tomorrow…

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