Tuesday, November 1, 2016

The Mother Of All October Surprises By David Stockman


..........................................................................................

The Mother Of All October Surprises

By David Stockman


........................................................................................................................................................


David Stockman was a two-term Congressman from Michigan. He was also the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street. He's the author of two books, The Triumph of Politics and The Great Deformation. He also is founder of David Stockman's Contra Corner and David Stockman’s Bubble Finance Trader.
October 31, 2016
FBI Director Comey's Friday-morning letter to Congress about new email evidence was a lot more than a "bombshell." It was the equivalent of an election-cycle DEFCON 1.

That's because Comey has to be a desperate man doing the very last thing imaginable. That is, blowing up the establishment which he has obediently served for the last three decades.

After all, he proved back in July that he has a wet noodle for a backbone when he practically leapt into the tank for Hillary and for the worst of reasons. He prematurely and unaccountably "closed" the case in defiance of the FBI's own findings of Clinton's "gross negligence." And without even empaneling a grand jury, for a reason that was plain as day:

Comey is one of the Imperial City's archetypical greasy pole-climbing careerists and was just plain terrified of being drummed out of public life by the Washington ruling class for prosecution of its leading clan.

So to now reverse himself just 280 hours before the polls close on Election Day and potentially deprive Hillary of what was otherwise a certain victory can possibly mean only one thing.

Namely, that these new emails give "smoking gun" a new definition.
Namely, that these new emails give "smoking gun" a new definition.

What I’m saying is that for Comey, the FBI's servergate investigation has suddenly escalated from an exercise in kissing butt to a desperate bid to cover his own. The spineless opportunist who occupies the top chair in the Hoover Building found it impossible to delay disclosure that the FBI had discovered some 650,000 emails on Hillary aide Huma Abedin and her (still, technically) husband Anthony Weiner's laptop — thousands of which may be "pertinent" to the Clinton servergate matter — because he knows full well that Uncle Sam's hospitality facilities are not a country club.

Well, at least not for an ex-prosecutor who spent a good portion of his career filling up these joints. Yet federal prison is exactly where he would have been headed the minute the GOP-controlled House investigating committees, using their subpoena power, discovered that Comey had deep-sixed new evidence of Hillary's complicity, to use Tricky Dick's term from the long ago Watergate era.

Friday afternoon's drastic defiance of the beltway rulers can only be explained by Samuel Johnson's famous aphorism:

"When a man knows he is to be hanged… it concentrates his mind wonderfully."

And that's also why this development is truly the mother of all October surprises. Even if by some outside chance these new emails turn out not to be a smoking gun when and if they are ever disclosed, it won't matter.

On Friday, FBI director Comey turned servergate into Watergate 2.0.

Consequently, what had been shaping up as a runaway win for Hillary in the Electoral College, if not the popular vote, will now undoubtedly tighten dramatically. In turn, that means that whichever way it goes on Nov. 8, the great financial bubble and phony recovery orchestrated by the Wall Street/Washington ruling elites is heading for a thundering collapse.

Below, I show you why this election will probably make the 2000 election "hanging chad" episode look like a Sunday school picnic. Are you ready for the fallout? Read on.

Regards,

David Stockman
for The Daily Reckoning