Scott Bessent - Another Great Nominee Who Will Make America RICH Again

[EmmetK]

The All-Star team gets better and better:

Trump picks Scott Bessent to serve as treasury secretary

https://www.nbcnews.com/politics/donald-trump/trump-picks-scott-bessent-serve-treasury-secretary-rcna180171

"President-elect Donald Trump is tapping billionaire Scott Bessent as his Treasury secretary, media outlets reported Friday, choosing the hedge fund manager to help execute an agenda promising tax cuts and tariffs.

Bessent, who is chief executive officer of Key Square Group, has called for an extension of tax cuts from Trump's first term, wants to reassert American energy dominance, and pledges to deal with the budget deficit."

Bessent, 62, is the founder of hedge fund Key Square Capital Management, after having worked for George Soros in the 1990's. If confirmed by the Senate, he would be the nation’s first openly gay treasury secretary.

Oh, and did I mention that he is also gay?
Donald Trump only wants the best. It doesn't matter to him what is your color, religion, sex, or sexual orientation.

Will the dems attack him because he is gay?
According to his Wikipedia page, he had a fundraiser for Al Gore in his Hamptons mansion in 2000.
He was on the Board of "In God's Love We Deliver"
He endowed a scholarship at Yale University, his alma mater, for a deserving student from the Bronx.

What will the dems find wrong with him? He had an affair with a married woman in 1986? Lol.

Scott Bessent and John Freeman: Washington DC's new Power Couple

Bessent invests for a lot of wealthy people, even George Soros!
But when Soros wanted to diversify and take away from Israel, Bessent refused, and not only did he refuse, he vowed to take everyone that worked for him with him! And he did!

 

Scott Bessent is eager to help President Trump implement his AMERICA FIRST MAGA agenda.

ALL ABOOOOOOOOOOOOOOOARD!

TRUMP2024
MAGA

 

[KeepItReal]

[EmmetK]

36 minutes ago, KeepItReal said:

• No degree required? Scott Beesent has a BA degree from Yale University
• No experience necessary? Interned with Scott Rogers, worked at Brown Brothers Harriman, Kynikos Associates, head of the London Office of Soros Fund Management where he oversaw 25 billion in investments, started his own multi-billion dollar hedge fund.
• No background check? Just nominated. Will go through a thorough background check.
• Ass kissing a must? He will be loyal to Trump just like any cabinet secretary is expected to be loyal to his/her President
• Sexual Offenders encouraged to apply? Do you know something about Scott Bessent's personal life the rest of us don't know? Spill the beans here, prey tell.

You may want to hire a fact checker before you post.

ALL ABOOOOOOARD!

TRUMP2024
MAGA

[KeepItReal]

2 minutes ago, EmmetK said:

• No degree required? Scott Beesent has a BA degree from Yale University
• No experience necessary? Interned with Scott Rogers, worked at Brown Brothers Harriman, Kynikos Associates, head of the London Office of Soros Fund Management where he oversaw 25 billion in investments, started his own multi-billion dollar hedge fund.
• No background check? Just nominated. Will go through a thorough background check.
• Ass kissing a must? He will be loyal to Trump just like any cabinet secretary is expected to be loyal to his/her President
• Sexual Offenders encouraged to apply? Do you know something about Scott Bessent's personal life the rest of us don't know? Spill the beans here, prey tell.

You may want to hire a fact checker before you post.

 

ALL ABOOOOOOARD!

TRUMP2024
MAGA

Let us hope he knows the difference between "prey" and "pray". 

[stevenkesslar]

2 hours ago, KeepItReal said:

Let us hope he knows the difference between "prey" and "pray". 

Interesting background.   He was Executive Director of George Soros' hedge fund.  And, as @EmmetKruelty pointed out, he is married to a man with two kids.

I personally take some of what is happening as a victory.

Even a decade ago I don't think Republicans would have confirmed any Gay Cabinet member.  Half of Republicans, and most evangelicals, still oppose same sex marriage.  Democrats have forced them to make it normal.

Less than a decade ago, in 2018, Kevin McCarthy decided he needed to integrate the Republican House, so it wasn't just White men with a few White women.  The woman's wave of 2018, brought to you by Nancy Pelosi in a mass reaction to Trump's sexism, forced Republicans to do that.

So, yes, we suffered a big fucking loss. Actually, not that big, really.  But it hurts that America rejected a strong leader who is a woman of color for this sexist raping felon.   Regardless, I'm proud of the fact that the LGBTQ community fought like hell to make it normal to be Gay and conservative.  Nothing wrong with that.

Genocide, on the other hand, is a whole different discussion.  Poor Emmet!

Bessent is pro-tariff.  I suppose that is a job requirement in the Trump Administration.  But I'll be curious to see if a rich raping felon like Trump and a rich conservative hedge fund manager really want to raise prices at Walmart for Latino Moms and Dads.   We know expanded child tax credits promised by Harris didn't quite close the deal.  Somehow, I doubt that tariffs on Walmart crap will make working class Latinos board the Trump train.   Unless Tom Homan forces them to at gunpoint, of course.

[stevenkesslar]

3 hours ago, EmmetK said:

Will the dems attack him because he is gay?

Why do you assume Democrats are as hateful and unprincipled as you are?

For you, nominating a child rapist as AG is just the same as nominating a Gay married man for Treasury Secretary.  I mean, frankly, your enthusiasm for Gaetz and Bessent isn't quite at the level of your euphoria for Bibi The Baby Killer.  But we get it.  You are definitely on board with all these guys.

I thought you might at least grasp that other people are able to make principled distinctions.

My bad.  Why would I think that a pro-Genocide Gay Jew like you has principles, or compassion?

[Suckrates]

 

Gurrrrrrl......Did I get the job ????

[EmmetK]

8 hours ago, Suckrates said:

 

Gurrrrrrl......Did I get the job ????

 

Yes. He did. And he got it because of his qualifications. Not because of DEI or identity politics.

ALL ABOOOOOOARD!

TRUMP2024
MAGA

[EmmetK]

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

"https://www.reuters.com/markets/us/dow-futures-hit-all-time-high-markets-laud-trumps-treasury-pick-2024-11-25/"

"Nov 25 (Reuters) - Wall Street's main indexes ended higher on Monday, with the small-cap Russell 2000 index hitting an all-time high after Scott Bessent's nomination as U.S. Treasury secretary helped push bond yields lower."

The Dow Jones Average closed at 42,221 on November 5th. It closed today at 44,736. That's over 2,500 points in 3 weeks!

This is what happens when you are replacing criminal grifters with genuine leadership.

 

The mass removal of illegals will reduce demand on food, fuel, and rent - helping to counteract inflation on the most basic needs of the American family at little cost in lost revenue (these are not high-taxpaying citizens).

The mass removal of the Federal government workforce will greatly reduce government spending (payroll is always the largest expense in any enterprise, including government), not only making up for any revenues lost from and the cost of mass deportations, but also putting low skilled workers back into the private workforce to fill those low skilled jobs currently worked by illegals.

Can you imagine how much the economy will improve just by removing the inefficient government boondoggle now in place?
DOGE should evaluate the clearly weaponized agencies first.

President Trump promised to make America RICH again.
President Trump delivers!

TRUMP2024
MAGA

[Goober]

There must be a place for P Diddy in donOLD's cabinet. Or, is he overqualified?

[stevenkesslar]

4 hours ago, EmmetK said:

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

So not to be super fucking mundane and boring, but there may be another thing Trump and Bessent have done that matters more.

They re-inverted the 10 year/3month yield curve.  Which, just last week, became un-inverted for the first time in two years.   Holy boring technical analysis, Batman!

My stock market geek nephew and I are debating each other now, in ways that make my posts here seem short and funny.  He points out, correctly, that since 1992 every time the yield curve un-inverts we have a recession in about two to six months.  It is also almost a truism that the best predictor of a recession is an inverted yield curve.  I say almost because the one exception is 1967.  Or, you can argue the 1967 inversion was right.  It just took three years for the recession to happen.

So this is a bit like Alan Lichtman.  The yield curve inversion is the Nostradamus of recessions.  But will it work this time?  Inquiring investors want to know.

When I bring my genius political and economic instincts to bear, my best guess is that Donald Trump is going to make me better off ........... in the short term.

What to expect from the markets under Trump

We'll get a short term high - but many investors worry about what comes next.

Hopefully if you do not read FT much you won't get their paywall.  First time I clicked on the article I got it it.  Second time, I got the paywall. 

The main idea in the article is this.  Trump will buy the US stock market another sugar high for a year or two, in the form of a massive new bump in already unprecedented federal debt.  Like in 2017.  For some strange reason, billionaires and corporations like tax cuts and less regulation for billionaires and corporations.   Who knew, other than Trump's billionaire and corporate donors?  And Latino men, who hate Latinx but love tax cuts for their rabidly anti-union billionaire bosses.  But Trump will also create all kinds of new risks.  Including by deregulation, and firing regulators.  From crypto to obscure markets (who every heard of subprime derivates, anyway?) all kinds of shit could go wrong.  And probably will in a few years, FT argues.  

Losers!  Jew haters!  Trump was already President once.  That ended really well.

My nephew and I agree that Trump is an asshole, but we disagree about one big thing.  He thinks the 15 year old bull market has to be on its last legs.  And a blow off top is imminent.  That said, he thought the same thing at the end of 2021.  Meanwhile, Warren Buffet sold off AAPL, and Stanley Druckenmiller sold off NVDA.   But what do they know? 

I get all my stock advice from @EmmetKruelty.   He does know one thing very well:  cruelty begets cruelty.  So my logic is that greed begets greed, and will always push the market higher.  Until it can not.  And if we needed a person to ignite greed, everyone knows who that person is:   Jimmy Carter. 

Ha ha, just kidding.  Habitat For Humanity is just what greed does for a tax write off. No, greed would send in Kamala Harris, who would raise taxes on billionaires and corporations to help the working class.  That's what Wall Street wants!  Ha ha!  Fooled ya again.

No, if Wall Street wants to set greed on fire, central casting would send in Donald Trump.  And here we are.

Ed Yardeni says this just reinforces his idea that we're in a new Roaring Twenties.  And please, don't think about how that ended, okay?  Think about how fun it is while it lasted. 

Yardeni, who actually did coin the term bond vigilantes, also says they are saddling up.  I mean, if we are going to be the kind of extremists who worry about Palestinian children, or illegally deporting American children, or some kind of US debt crisis, we could go there.  Maybe piling on more debt, playing with tariffs, and driving bond and mortgages rates up could be playing with fire.  But why in the world would anyone every associate King Donald Trump (hey, one can always hope) with bankruptcy?  🤔  Trump Stocks are as good as Trump Steaks to me.  Trump would never cause anything to go bankrupt. Never ............................................... Right?

Which brings us right back to FT, Trump, and our lovely new Gay hedge fund manager, who will do whatever Trump wants to be Treasury Secretary.

I think it all sounds great.  I mean, Bessent is no Alan Greenspan, for sure.  Greenspan trusted capitalism and capitalists to always do what was best for the market, albeit out of ego and greed.  They correctly figured out that to maximize profits we needed more subprime loans, more subprime derivates, and more synthetic derivates that created endless liabilities.  "How could that go wrong?",  Greenspan said.   The global financial crisis sure proved him right.  Bessent may not be as much a genius as Greenspan.  But with time, and encouragement from Trump, he can get there.

So, obviously, FT is wrong.  They predict Trump and Bessent will figure out how to go to extremes and blow it up, just like W. and Greenspan.  Obviously, FT is extremist, Communist, Gay bashing, and Jew hating!  When you add Trump, Musk, crypto, skyrocketing debt, war criminal Bibi The Baby Killer, and Wall Street to the mix, how could anything possibly go wrong in a few years?

Meanwhile, make sure you get first class on the train.  No smelly Black women allowed!

TRUMP2024
MAGA

GREED

MORE GREED

EVEN MORE GREED

MARKET COLLAPSE

BANKRUPTCY

 

 

[stevenkesslar]

Okay a short post, for a change.

Now that Alan Lichtman has proven to be a worthless anti-Semitic Jew hater, I am turning to CNN for my prognosticating on the stock market.

Biden is beating Trump on stocks. History shows markets do better under Democrats

Quote

The S&P 500, the gold-standard market index of 500 US stocks, has posted a compound annual growth rate of 14.1% from Biden’s November 2020 election through Thursday’s closing bell, according to veteran market strategist Sam Stovall of CFRA Research.

The market returns under Biden are the second best in modern history going back to 1945, Stovall found. The only stronger performance was during the booming dotcom days under former President Bill Clinton during the 1990s.

And remember, just like with Lichtman, past performance means shit.  What matters now is greed, ego, and absolute loyalty to Trump.  And maybe having sex with a child, or raping a woman or two.