Friday, December 11, 2020

Joe Biden, Kamala Harris Time Magazine People of the Year; Markets Befuddled As Texas Lawsuit Proceeds At Supreme Court

Would it not be the irony of all ironies if the freshly-appointed Time magazine People of the Year (POTY), Joe Biden and Kamala Harris turned out not to be president and VP "elect" after all?

It might make the print edition something of a collector's item, notably bestowing a prestigious award on people who never get to see the inside of the White House other than on a tourist pass. It could easily happen that Texas prevails in the Supreme Court, and the presidency is rightfully awarded to President Trump for a second term of office.

On Thursday, six states - Missouri, Arkansas, Louisiana, Mississippi, South Carolina, and Utah - petitioned the court to join the suit as plaintiffs after 18 states filed amicus (friends of the court) briefs supporting the claims that Pennsylvania, Wisconsin, Michigan, and Georgia violated federal election laws and committed fraud in the 2020 presidential election.

Additionally, 106 Republican members of the House of Representatives signed onto another amicus brief in support of the Texas suit which the mainstream media variously is describing as a "long shot," "outrageous last ditch effort," "lame," and other predictably negative characterizations.

The media is "all in" on Joe Biden and Kamala Harris, even though the evidence - hundreds of affidavits and sworn testimony by poll watchers, whistleblowers, statisticians, and campaign workers - points to a concerted effort to defraud the American people, primarily through the use of mail-in ballots which were counted unsupervised, not required to have signature matches, and sometimes pre-printed with Biden as the selection, primarily in Atlanta, Philadelphia, Pittsburgh, Milwaukee, and Detroit, all Democrat strongholds which swung President Trump's commanding leads into defeat after halting their vote counting on the evening of November 3rd.

By November 4th, all of Trump's leads had vanished and Biden was ahead in each of the states named as defendants in the suit. The Supreme Court is hearing the case and has taken responses from the defendant states. A ruling could come at any time, but could possibly be issued over the weekend.

Coincidentally, President Trump will be attending the annual Army-Navy game at West Point, marking the first time the game has been held at either of the service academies since 1943. All of the top military brass will also be in attendance along with thousands of Navy midshipmen and Army cadets. Whether or not the game's location is significant or not will soon be known.

Naming Joe Biden and Kamala Harris as the people of the year is another attempt by the corrupt mainstream media of TV networks, the Washington Post, New York Times, LA Times and other "owned" and controlled news outlets to further their false narrative over how the election was won. Many more than 70 million Americans disagree, believing that the election was stolen.

On that ominous note, markets went into suspended animation on Thursday, vaccillating across the unchanged line in a fairly tight, unconvincing range. It appears as though investors were not pleased with the 853,000 initial unemployment claims filed the previous week and announced Thursday pre-open, the highest number since September.

Stock junkies are also focused on congress' failure to deliver another stimulus bill any time soon, the precarious nature of Brexit negotiations, and mixed signals from the FDA on the vaccine front.

With stocks in Asia and Europe (DAX down 1.5%, EuroStoxx 50 down over one percent) trending lower and US futures in the tank (Dow Futs -187, NASDAQ Futs -84), the set-up for Friday is less-than-encouraging and holiday shopping - being mostly online this season - looks to be a big negative as 2020 draws to a close.

There's no guarantee of anything substantive coming out of the Supreme Court or in the Brexit negotiations within a short time frame, but there's certainty that this week will end with more questions than answers.

At the Close, Thursday, December 11, 2020:
Dow: 29,999.26, -69.55 (-0.23%)
NASDAQ: 12,405.81, +66.86 (+0.54%)
S&P 500: 3,668.10, -4.72 (-0.13%)
NYSE: 14,394.34, +20.26 (+0.14%)

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