How do you think the bear market still hasn’t ended?
┈➤Let’s start with a casual take
In principle, each bear market should lead people to realize something. Last round’s takeaway was that “copycat” coins were the ones to cut others—i.e., people got harvested.
But now it looks like it’s still MEMEs. Has the narrative really not changed at all? Did this round end up teaching us nothing?
┈➤Now another serious viewpoint
Also, let’s talk about a serious point: we’re currently in the middle of an election cycle, and that has brought about a round of market activity.
The U.S. House and Senate are both up for elections: the entire House is being re-elected, and one-third of the Senate is being re-elected.
However, the Treasury Department, the Department of Labor, the Department of Commerce… these 15 cabinet-level executive departments haven’t been replaced. They’re still led by Trump.
Although institutions like the Federal Reserve and the SEC are, in principle, independent, most officials probably wouldn’t feel the need to “make trouble for Trump” at this particular time.
The current majority party (the Republicans) is trying to manufacture prosperity—leaving voters with one last good impression—so they can secure victory in the midterm elections.
But this kind of prosperity is temporary; it isn’t real U.S. economic prosperity.
Of course, the midterm election campaign might just be getting started:
Maybe new candidates have already started working, but right now the sitting members of the House need to return to their states in late September to focus on election work.
And the accelerated purchase of long-term bonds proposed by the Treasury Department will only begin on September 9.
┈➤Let’s start with a casual take
In principle, each bear market should lead people to realize something. Last round’s takeaway was that “copycat” coins were the ones to cut others—i.e., people got harvested.
But now it looks like it’s still MEMEs. Has the narrative really not changed at all? Did this round end up teaching us nothing?
┈➤Now another serious viewpoint
Also, let’s talk about a serious point: we’re currently in the middle of an election cycle, and that has brought about a round of market activity.
The U.S. House and Senate are both up for elections: the entire House is being re-elected, and one-third of the Senate is being re-elected.
However, the Treasury Department, the Department of Labor, the Department of Commerce… these 15 cabinet-level executive departments haven’t been replaced. They’re still led by Trump.
Although institutions like the Federal Reserve and the SEC are, in principle, independent, most officials probably wouldn’t feel the need to “make trouble for Trump” at this particular time.
The current majority party (the Republicans) is trying to manufacture prosperity—leaving voters with one last good impression—so they can secure victory in the midterm elections.
But this kind of prosperity is temporary; it isn’t real U.S. economic prosperity.
Of course, the midterm election campaign might just be getting started:
Maybe new candidates have already started working, but right now the sitting members of the House need to return to their states in late September to focus on election work.
And the accelerated purchase of long-term bonds proposed by the Treasury Department will only begin on September 9.