The Trump and Dump scheme put America in exactly what Donald Trump promised: “a depression the likes of which you’ve never seen before.” Truly. Like the invisible enemy he brought on us all, a depression actually began in February 2020. It was declared a recession, with another recession looming for 2023, meaning back-to-back recessions. History will prove this period of time is in fact: a depression.
This depression is virtually invisible, perhaps because by certain economic terms things are going well even for working people. That’s because this time the scheme fell apart before the usual conclusion. This also explains why Trump completely fell from popularity to the point where he is following Kanye West for cultural relevance cues. How’s that been going, by the way? I think it’s sad to see their falls from grace.
The Trump and Dump scheme which propped up the market from 2016-2019 I cannot yet explain. At the time his presence was too domineering for conversations about much else to surface. That is a ripe condition for fraud to occur. People are distracted, enamored, intoxicated, and looking the wrong way. In a moment, everything can get turned sideways. The market is not even close to the bottom yet.
January 8, 2016 the S&P 500 closed at $1,922.03. That’s around 50% lower than it closed at today. The market capitalization of the S&P 500 is approximately $35,100,000,000,000. To be clear, that would be a price resetting of over $17,500,000,000,000. This of course is compounded by the fact that many of the companies on this index are also integral on the NASDAQ, and Dow 30.
The aggregate is incomprehensible. Obama’s “recovery” of the housing market collapse is also questionable. There is really no telling just how far back the market needs to be corrected (aka audited) to be an actual free market again. But it is nowhere close yet. The heat out there is simmering, and the gains are fake. Don’t be amazed by any single day rally. Trump and Dump is worse than Trump Derangement Syndrome. It’s got to end.
