Armstrong Economics Blog/Markets by Sector Re-Posted Jan 22, 2021 by Martin Armstrong
The market will come to a decision probably in Feb/March about just how crazy Biden will get. The greatest fear is they will pump up the numbers of COVID to justify a national lockdown following the WHO and Europe which is really all about crushing the economy for the purpose of Build Back Better green. That means they will DELIBERATELY destroy jobs and there lies the decision of capital and where to flee. We are already starting to pick up capital flows from Europe into China buying Chinese debt yielding 3% which is attractive against negative yields in Europe.
Despite Biden’s claim of inclusion during his inauguration, he has immediately set out to reverse everything Trump ever did. He instantly removed Trump’s list of Accomplishments that were on the White House site. I had to use the Way Back Machine to retrieve them. That is not something any other president has even done.
Then Biden authorized a secret hidden message in its HTML code on his WhiteHouse.GOV site. It simply said for anyone who would look at the HTML code: “If you’re reading this, we need your help building back better. https://usda.gov/apply” Following that secret code led me to their application.
- Construction at the Border Wall has STOPPED.
- Illegal Immigrants will be counted in the United States Census.
- The Keystone Pipeline has been CANCELED → thousands of jobs will be destroyed.
- Rejoined the World Health Organization that helped China cover up their terrible handling of the Coronavirus.
- Reversed the travel ban to keep radical terrorist groups out of the United States.
- Imposed negative COVID Test on all persons traveling to USA
Then Biden says he will defeat the NRA which defends the 2nd Amendment. The NRA has suddenly discovered that anyone on the LEFT’s hit list better get out of any Democratic state. The NRA was trying to move to Texas and a New York judge refused to dismiss the case by the States of New York against them. That declaration has a real panic going in in the arms industry. However, his first day went on a rampage to reverse everything Trump did. Counting illegal aliens in the census increases the Congressional seats to represent people who are not legally allowed to vote! This seems to benefit California and creates more Democrats but they really do not represent the illegal aliens. The civil unrest has not subsided in Portland. The extreme left is rioting against Biden already.
Then at the Janet Yellen confirmation for Treasury Secretary, the questions included taxing unrealized capital gains. That sent the cryptocurrencies into crash mode. This is effectively a wealth tax which means that there is no point in investing. That would cause such a collapse in the stock market that the one good thing would be to watch how much Gates, Zuckerberg, and Dorsey lose in the blink of an eye. I seriously doubt that even the conservative Democrats would vote for that. Anyone with 10% of a brain would pull their donations to the Democrats.
All eyes are on Biden right now and he signed an executive order appointing Jeffrey D. Zients as the official Covid-19 response coordinator who will report to the president. He is supposed to put in an effort to “aggressively” gear up the nation’s response to the pandemic. That has capital in fear right now. The order also restores the directorate for global health security and biodefense at the National Security Council. Biden is doing his best to outright reverse whatever Trump had done which included disbanding that element in addition to withdrawing from the UN’s WHO. Of course, they are painting Trump as evil, but in fact, corruption at the WHO is legendary. It was Ronald Reagan who first withdrew from the WHO which was mysteriously restored by Bush Sr because he was a career politician as it was suspected. Trump withdrew and no Biden, another career politician, is restoring this agency when the head of it is not even a medical doctor. The number of flu cases is minimal because everything is being attributed to COVID.
Worse still, Biden also put Anthony S. Fauci in charge of the U.S. delegation to the WHO’s executive board. Fauci’s ties to Bill Gates who is the #1 donor to the WHO after Trump cut off its funding demonstrates that Gates is still in charge and his Build Back Better is the marketing slogan put out for world leaders from the World Economic Forum. Any hope of independence has evaporated on the first day. If Biden adopts Gates’s idea of blocking the sun, we have to do something. I would suggest that dimming the sun is probably grounds for international war since Gates and Biden cannot make such a decision for the entire world. When the people realize they traded Trump for Gates, I think they will have second thoughts in 2022.
The WHO already previously came out and tied climate change to COVID. We need to keep an eye on Gates and the WHO along with John Kerry and just how far will they push the climate change agenda using the virus to shut down the economy to reduce CO2. Gate is already out there claiming that Climate Change is far worse than COVID.
The WHO is outright joining the virus with climate change. This is absurd for a health organization and it is demonstrating the corruption in the WHO. This pandemic has destroyed so many jobs, but it has also ignited a massive migration out of New York City.
Biden has also moved to a national mask mandate, which would most likely fall to a legal challenge as unconstitutional. There is no evidence that masks even work and the manufacturers clearly state that they will not prevent disease. Nevertheless, Biden is requiring also social distancing and the wearing of masks on all federal property and by all federal employees. He is also starting a “100 days masking challenge” urging all Americans to wear masks and state and local officials to implement public measures to prevent the spread of the coronavirus.
All of this chaos is a 180-degree turn in politics that is very hard for the financial markets to take into account. Our models suggest that we are probably going to see a decisive move come Feb/March.