Everything is done to protect the status quo, which consists of - in no particular order - grifting by congress off the bloated federal "budget" (What a joke. The U.S. government hasn't had a proper budget since the 1980s), paying interest to the Federal Reserve, protecting and supporting Israel and Ukraine, lining their pockets with contributions (Washington) and retail investor funds (Wall Street).
In the matter of President Trump's gloating over the recent strikes on Iran, it was all for show, designed to get Israel out of a bad situation. Don't believe me. Do some research. Start with the substack by Simplicious and this ZeroHedge article authored by Pepe Escobar.
As far as Wall Street is concerned, it's all run on algorithms that operate off of mainstream media news headlines with little to no human input. Eventually, Bloomberg, CNBC, and Fox Business will just write headlines that please the algorithms, whether they are true or not. If New York got nuked, Bloomberg might pen a headline like, "Massive redevelopment underway in Manhattan with Russian assistance." That's just how the little midget who thought he might be president some day rolls. Mike Bloomberg is a rich guy who could care less about the country in which he lives and made his fortune.
Anyhow, stocks just keep going up. What's not to like? Maybe the purchasing power of the dollar? Same buck, buys less every day. Those of us in our senior years probably remember our parents or grandparents complaining about the price of a candy bar or some other item. They'd say, "it used to be a penny when I was a kid." We laughed, and thought, oh, these old folks. Now, we're the ones looking at a Fifth Avenue or Baby Ruth at the candy counter, remarking that the 50-cent candy bar used to be a nickel or a dime when we were kids (1950s and 1960s) and, they were BIGGER. We're not delusional, nor senile, yet. Everything was much, much less expensive 50, 60, 70 years ago.
But, that's progress! Yes, if one defines progress as obliterating the middle class through inflation while putting everybody into debt slavery and the U.S. government $37 trillion in debt and paying over A TRILLION DOLLARS A YEAR in interest on that ungodly amount of debt.
A new car in the early 1970s cost somewhere between $1500 and $3000. Teenagers were able to buy their first used car for a couple hundred bucks. The median price of an existing home was, well, orders of magnitude cheaper than today, and, back then, homes were built with good lumber, concrete, bricks, etc.
Trump's Big Beuatiful Bill is going to be a train wreck after the Senate gets through with it and sends it back to the Hosue. It's loaded with pork and earmarks and loads of helping hands to big corporations with nothing for small business. Nothing outside the extension of the 2017 tax breaks and maybe the funding for more border control are any good. As it was originally written, it would produce a $2 trillion deficit, so why bother promoting it as some kind of magic pill for Americans?
Trump and others in the MAGA crusade use the term, "America First" to describe their basic intent. What Americans need is a government that supports "Americans First." There's a big difference.
And, what ever happened to the hundreds of billions in waste, fraud, and abuse that Elon Musk and his DOGE team unearthed? Congress has managed to cut that down to about $9.2 billion in savings. Originally, Musk and Vivek Ramaswamy were supposed to have been working at the Department of Government Efficiency (DOGE) until July 4, 2026.
Well, Ramaswamy left early on to run for governor of Ohio, but Musk carried on and did exceptional work, but it's not even July 4, 2025, and he's already gone (and disgusted with government). So much for fixing the broken federal government. The powers that be, the status quo, aren't interested in fixing anything, besides, well, elections.
If there's any hope at all, maybe the BBB will blow up in congress and the government will shut down on October 1. Don't count on it, though. What's more likely to happen is what always happens, they (the Uniparty) will reach a compromise on another three or six-month continuing resolution and move on to the next crisis.
Under the current leadership, despite Trump's best efforts, thwarted at every turn, America is burnt toast, with Wall Street and Washington requesting theirs be buttered on both sides.
Meanwhile, Fed Chairman Jerome Powell gave his semi-annual testimony on monetary policy to the Committee on Financial Services in the House on Tuesday. Did anybody even notice? He's scheduled to spew before the Committee on Banking, Housing, and Urban Affairs in the U.S. Senate, Wednesday. Nobody gives a damn what he has to say, mostly because it's all fake or gibberish, or both.
Prepare for more fakery, because, at this point, it's all they've got.
At the Close, Tuesday, June 24, 2025:
Dow: 43,089.02, +507.24 (+1.19%)
NASDAQ: 19,912.53, +281.56 +(1.43%)
S&P 500: 6,092.18, +67.01 (+1.11%)
NYSE Composite: 20,217.34, +209.17 (+1.05%)
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