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$CLX24 – Nov Crude (Last:75.56)

November Crude climbed almost precisely to the 78.39 rally target I air-mailed to you last Sunday, topping at 78.46 before plunging a brutal $7. No one mentioned this in the chat room besides DJI, let alone crowed about making money on it, so I will be dropping crude from the

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$TNX.X – Ten-Year Note Rate (Last:3.98%)

To the list of trading ‘touts’, I have added yields on the Ten-Year Treasury Note. There seems to be a great deal of uncertainty about where rates for U.S. debt are headed, but this chart should help bring clarity and concision to the forecast. Ten-year rates have fallen from a

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DXY – NYBOT Dollar Index (Last:100.68)

Sellers crushed the 102.4o downside target featured here last week, so I’ve substituted a longer-term chart with a more significant target at 93.79. We’ll know better whether it is likely to be reached once we’ve seen how the midpoint support at 100.57 fares. It held precisely back in December, but

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TLT – Lehman Bond ETF (Last:96.49)

Buyers ripped through the midpoint Hidden Pivot (p=96.42) of the pattern shown with such force on Friday that there can be zero doubt where they are taking this vehicle, an ETF proxy for the long bond. The 105.49 target looks all but certain to be achieved, presumably within the next

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THE MORNING LINE

Kamala Unwinding

[I can’t stomach news reports that take Kamala Harris’s candidacy seriously, especially articles suggesting with brazen implausibility that she is polling dead-even with Trump in some important swing states. Fortunately for those creeped out by all the tilted campaign coverage, my colleague James Howard Kunstler has compressed everything you need to know about the election into a bold, Menckenesque essay that will dazzle you with its insightfulness. He offers three scenarios, two of which could bring America to the brink of civil war. Fortunately, the third, a Trump landslide, seems the most likely and would give Americans a chance to snuff Deep State for good before it can recover from the blow.  With Jim’s kind permission, here is Kamala Unwinding, his latest Clusterfuck Nation essay on substackRA]

***

“. . . we are facing a catastrophic collapse of governance. With democracy reduced to a tragedy or a farce (probably both things). . . .” — Ugo Bardi

<<<<< >>>>>

“As the US increasingly resembles ancient Rome, being president is more and more dangerous. Something around 35 emperors met violent deaths, most from people in and around their courts. In other words, members of the Roman Deep State. An ugly situation is brewing in and around Washington DC.” — Doug Casey

*****

Don’t kid yourself: Kamala Harris does not want to be President of the United States. She doesn’t even want the ceremonial stuff, the incessant shuffling from one photo op to the next, the tedious Easter egg rolls, the prayer meetings, the turkey pardonings, the tiresome state banquets for men in strange headgear who are unfamiliar with using the fork and knife, and forbidden to sip chardonnay. . . .

It’s obvious she has been played for a chump, that she was sandbagged into play-acting “the candidate” by an odd coalition of the distraught and the desperate — that is, the many agency blobsters who fear prison and the perfidious politicians such as Pelosi, Schumer, Mitch the Turtle, the Clintons, and Obama, paid to cover for the blob, often doing it badly, who fear the judgment of history, as well as the loss of their fortunes. Distraught and desperate characters make foolish decisions.

The Black Spot

About thirty seconds after “Joe Biden” vowed to stay in the 2024 race, a delegation of these panicked pols paid him a call and passed him the black spot, knowing he could not credibly front for the massive election cheat underway. He was barely able to front for the previous one in 2020, when every lever of power got pulled to-the-max to conceal the truth about the steal, and to severely punish those who dared to murmur doubts about the election’s freeness and fairness.

How did they decide that Kamala would do any better? I assure you we will find out when the party explodes in recriminations sometime after November 5. It will probably turn out to look like the 2017 movie, The Death of Stalin, a frantic vaudeville of scheming buffoons oblivious to mundane doings of the suffering nation they pretend to serve. Unlike Nikita Khrushchev in 1953, Kamala did not prevail among this gang of squabbling clowns by force of personality or guile. She was merely a default setting as veep, arrived at to present the illusion of continuity and solidarity where none existed. She was not even involved in the backstage action. I doubt that anyone even asked her if she wanted the assignment — she was only notified after-the-fact. Thus, all the drinking.

Is ‘The Steal’ on Again?

The outstanding question: will the Democratic Party actually go ahead and attempt to execute an election steal despite growing evidence of a developing Trump landslide that might obviate it? The works are already in motion. The mail-in ballots went out long ago and early votes are getting cast by the day. The overseas ballots that require no US address or voter verification are flooding in by the millions and four years of open borders has 10-million illegal aliens (at a minimum) dispersed around the nation, great gobs of them planted in swing states, processed through the DMVs and social services — with the requisite automatic voter registration — their ballots already pre-bundled for harvest.

It could go a few ways. One is, just let’er rip, harvest all those fake votes, stuff the drop-boxes, flood the zone, and do it all right in America’s face as if to say: we can do whatever we want. . .  to get whatever we want. . . and you can’t stop us. That is probably the point where blue America finds out exactly what the Second Amendment was designed for. You might also expect a whole lot of state-organized resistance, especially in the populous red ones, Texas, Florida, real court cases over fraud this time, contested certification.

High Court Could Decide

Or, the election could come out a hopeless unresolvable muddle. There’s no precedent for this and no provision in the Constitution, but you can imagine the Supreme Court having to decide a necessary do-over minus all recent gimmicks, paper ballots only, voters with proof of citizenship only, all voting on one re-scheduled election day before January 1. This novelty would be something apart from the clunky Congressional machinery established for settling electoral college disputes, since it is predicated on various states’ inability to determine their electoral college vote in the first place, based on patent irregularity and fraud.

You could also imagine a period of disorder so deep and grave that the regime behind “Joe Biden” declares martial law. . . or, alternately the military — the martial institution — has to take matters into its own hands, shoving aside even “Joe Biden” and his filthy retinue. Appalling to consider, I’m sure, but these things happen in history, and the Party of Chaos has set enough mischief in motion to wreck the election and wreck the country. Call it catastrophizing, if you will. There it is.

Trump Is on a Roll

But to step back from that abyss, it appears that Mr. Trump’s momentum accelerates by the day, that he is becoming, at last, an implacable, irresistible juggernaut who will, perforce, overcome all the gimmicks, traps, and frauds arrayed against him. Kamala seems to think so. Have you ever seen such resignation, such loserdom-in-action as her recent performance on CBS’s 60-Minutes, or her pitiful admission on ABC’s The View that she couldn’t think of anything she would do differently beyond the excellent management of national affairs under “Joe Biden” (and herself as veep). Surely that said it all. She has nothing, brings nothing.

Long ago, she was a pretty girl with a law degree and an infectious laugh on the fringes of local politics in San Francisco. The winds of fortune blew her this way and that way until she ended up way over her head, used by the reprobates around her as a mere device to stay out of jail. She ends as an historical prank on her own country. It must be deeply demoralizing to be used like that in front of the whole world.

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