Like cockroaches, quasi-criminal capitalists will survive war and/or recession, so Goldman Sachs will likely be on the winning side, since they have supplied expertise and cabinet members to many Cabinets including the present one.
The dog might still be wagged, even though it seems to have missed the six month mark and as Trump has passed a probationary milestone, he seems still not up to the task of being more than a ceremonial seat-filler as POTUS.
More chaos is ahead, although his economic malevolent goal seems clearer and that is fulfilling the catastrophic objectives of shock doctrine.
A neoliberal crisis is coming and some Bankster preconditions have already been placed that would make Trump and so many others even more money in tax breaks, cuts, federal giveaways, deregulation, etc.
And regardless of an impeachment or indictment, Trump as a brand lives on, and even may thrive because POTUS45* as flim-flam myth was “bigger-than-life”, blah, blah...
Organized and disorganized crime have common goals and that is about power and money mobilized and animated by crony capitalism and kleptocracy.
It’ll take more than central bank tightening to shake volatility from its yearlong slumber, according to Goldman Sachs Group Inc. A large shock such as recession or war is usually required.
That’s generally been the case for the 14 similar low volatility “regimes” since 1928, at least in equity markets, Goldman Sachs strategists Christian Mueller-Glissmann and Alessio Rizzi said. These periods on average lasted nearly two years, featured short-lived spikes and realized S&P 500 volatility was usually at or below 10.
Swings picked up across assets in the past week and investors are positioning for a shift higher, in part because of fears of central bank tightening, the strategists wrote in a July 3 report. But a sustained breakout is unlikely without an escalation in uncertainty or recession risk, they said.
“Volatility spikes have been hard to predict as they often occur after unpredictable major geopolitical events, such as wars and terror attacks, or adverse economic or financial shocks and so-called ‘unknown unknowns’ (e.g. Black Monday in 1987),” London-based Mueller-Glissmann and Rizzi said. “Recessions and a slowing business cycle have historically resulted in a high vol regime across assets.”
Goldman Sachs puts the chances of a recession in the next two years at 25 percent.
Last night on Twitter, along with urging various nations in Northeast Asia to go to war with North Korea, President Trump retweeted a gushing tweet from someone named Jacob Wohl, a name I hadn’t heard before. A quick look at his twitter profile shows Wohl presents himself as a financial management wunderkind and epic Trump supporter. He’s already a mini-star in conservative media and no doubt about to grow in such stardom with a retweet from the President. (It’s worth wondering, how did Trump find Wohl.)
He also appears to be a veritable mini-Trump, racking up a reputation for defrauded investors, various boffo shenanigans and a batch of regulators on his trail.
From looking at Wohl’s site and various interviews, it’s really not clear to me that Wohl runs a ‘hedge fund’ in any sense that most financial professionals understand the term. Perhaps there’s a fund he’s not discussing. But it seems more like taking money on account, investing it on behalf of clients and, as we’ll see, often refusing to give it back.
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