Every morning, we run the Narrative Machine on the past 24 hours worth of financial media to find the most on-narrative (i.e. interconnected and central) stories in financial media. It’s not a list of best articles or articles we think are most interesting … often far from it.
But for whatever reason these are articles that are representative of some sort of chord that has been struck in Narrative-world.
“We have to see Joe Biden’s tax returns because we have to see if Joe Biden was a financial consultant to [the fund] or an adviser. Biden has got to answer some basic questions: if he’s been compromised by the Chinese Communist Party? What was his involvement during the Obama administration?”
I know, I know … it’s impossible for a thinking human being to believe that a Trumpkin would demand that a politician must show their tax returns.
I know, I know … it’s impossible for a thinking human being to believe that a Trumpkin would accuse a politician of harboring secret financial ties to a hostile foreign country.
Well, believe it.
What’s next? I’ll tell you what’s next. Bannon and the rest of the America First brigade (which includes a LOT of bedfellows you see all the time on CNBC, like Kyle Bass) are going to go full-McCarthy. They’re going to have a “list”. They’re going to accuse anyone and everyone of “treason”.
This is part and parcel of the China narrative transformation that Rusty and I have been talking about for a month now: the US-China narrative is now a national security narrative, not an economic trade narrative, and you can’t walk that narrative back until after the 2020 election.
It’s not a secret plan.
“The Democrats, the longer they talk about identity politics, I got ‘em. I want them to talk about racism every day. If the left is focused on race and identity, and we go with economic nationalism, we can crush the Democrats.”
―Steve Bannon, from his August 16 exit interview with Robert Kuttner in The American Prospect.
That’s from Always Go To The Funeral. It’s how Nixon and Agnew got away with this crap in the 1972 re-election campaign, and it’s how Trump and Bannon will get away with this crap in the 2020 re-election campaign.