Obama’s puppet administration did much more than just wiretap Trump’s World Wide Wrestling Federation circus. It also left the U.S. Treasury account depleted right as the March 15 debt ceiling runs out. As expected, as of today, March 13, there has been zero attempt to extend the ceiling. The new president has no Congressional goodwill to go forward with any of his budgetary and tax proposals. Those are dead on arrival.
Additionally, Trump inherits another land mine: a major decline in Federal tax receipts, which have turned negative year over year [see chart at left]. To top it all off, the Daily Treasury Statement for March 10 shows a mere $30.9 billion in cash balances remaining.
Effectively, what happened is that Obama residual moles inside the Treasury stopped Treasury issuance entirely and actually pumped in $57 billion to pay off maturing securities. By comparison, last year the Treasury offered $157 billion of new funding debt between January 20 and March 7. On March 9 of last year, the Treasury had $196.3 billion in cash on hand.
Incredibly, Goldman Sachs mole Secretary of Treasury (((Mnuchin))) was sworn in on Feb. 13 and did nothing about it. To my thinking, this is prima facie evidence that a major financial crisis has been deliberately planned — and not only by Goldman Sachs mole Treasury Secretary (((Jack Lew))) and the outgoing criminal Obama administration but by the incoming criminals in the Trump administration! This is obvious blatant and orchestrated sabotage and treason. Neo-liberal Shock Doctrine event dead ahead. And rest assured, vampire squid Goldman Sachs and their Crime Syndicate friends are all well positioned for it. O inimigo dentro.
You can also rest assured that as this hyper-challenging fiscal situation plays out, the Trumpian White House will give the words “erratic,” “incompetence” and “self-inflicted wounds” a whole new definition.
I am not particulary predicting a market crash with precision on March 15. But, the stage is set. Besides the debt ceiling event on March 15, we have in short order a perfect storm brewing of other events:
- When I last mentioned and predicted a March 15 rate hike, FOMC futures odds were at about 30%. This morning they are 89%. Meanwhile, over the same time frame, the Atlanta GDP Now forecast has witnessed a swoon.
- Dutch elections, followed by French elections later in the month, could prove a final nail in the coffin of the EU and euro-dollar crisis. Euroskeptics are expected to do well.
- Mexico has “liquidity problems”
- Soros reportedly plans to unleash an American Spring color revolution with riots. And who knows how many missing and looted Libyan stinger missiles are floating around the U.S. right now.
- Massive Ides of March late-season blizzard with high winds rolling into the northeast.
- Japan begins earlier tapering of QE.
- Goldman Sachs associate ECB mucky muck Mario Draghi to raise interest rates prior to QE end.
- Corporate insiders have gotten some kind of memo as they dump at record levels in January and February. Aunt Millie and the public are big buyers.
Nothing to see here, move along?