SP 500 and NDX Futures Daily Charts – Peak Hubris and Complacency

“I don’t understand people…who talk about us as being in decline, and who act as though we are not yet the greatest country that has ever been on the face of the Earth for all of history!”
Hillary Rodham Clinton, 25 July 2016
The Democratic establishment’s lack of understanding of what a large portion of the public has been saying and thinking during this entire election cycle and beyond is both remarkable and yet understandable, given the bubble of easy money, crony capitalism, and endless favoritism in which their candidate and their pampered protgs exist.
This utter disconnect from the public why liberal establishment figureheads can write columns in the New York Times suggesting that all is well because things are great on the affluent bubble-land of the Upper West Side of Manhattan, or in Silicon Valley, and then imply that anyone else who is complaining in the rest of the country is ignorant, a malcontent, or just whining.
We have been hearing this sort of nonsense for some time now from the establishment cronies of both parties. Like all elites who have become insular and out of touch throughout history, the fortunate few have stopped listening to anything outside of their own circles, and have little attention or tolerance for dissent from their group thought.
And I suspect that the DNC power players, led by their poster child HRC, would like to take the support of the Sanders faction for granted, counting on fear of Trump to beat them into line. And so the very comfortable Wall Street wing of the Democrats will eventually toss their progressives under the bus, and try to garner more endorsements from disaffected establishment Republicans and their big money sponsors. After all, this has been Obama’s modus operandi for the past eight years.

This post was published at Jesses Crossroads Cafe on 25 JULY 2016.