The Bloom is Off The Ruse – Tom Donohue and U.S. Chamber of Commerce Announce Support for Far-Left Democrats in 2020…
A fifteen year argument is finally over…. We win. Most CTH readers probably don’t even remember the reason for the name: “The Last Refuge” upon this little corner of the internet. However, for well over a decade we have tried to share the truth behind the financial mechanisms that run Washington DC; and the primary machine has always been a completely corrupt, deceptive and anti-American U.S. Chamber of Commerce.
Against the entirety of the conservative media; and against the entirety of every organized group that ever attended CPAC; this website has attempted to educate people about the genuinely fraudulent purposes of the U.S. CoC and their President Tom Donohue. I have written hundreds of articles over the years outlining “there are trillions at stake” and the elements of importance behind that statement. Every single mainstream conservative voice has denied the truth; and likely most of them are probably on the CoC payroll.
Every former administration took massive payments from the CoC and allowed the Chamber to write trade agreements language for decades. The CoC business model was to take payments from Wall Street multinationals and then write the agreements to their benefit. Politicians were paid to keep quiet and support the CoC. The chamber is the largest lobby organization in DC. The chamber spends more money on influence than any other lobbying group by a massive amount. The CoC is at the heart of DC corruption.
President Trump knew about the CoC business model; that’s why he never allowed them a seat at the ‘America First’ table. That was the original source of our support for candidate Donald Trump. And now, after a decade of our trying to highlight the CoC scheme and the reason for it; yesterday, the U.S. Chamber dropped their pretense and admitted they were now supporting democrats because the CoC effort can only succeed by destroying Main St.
WASHINGTON DC – The U.S. Chamber of Commerce is poised to endorse nearly two dozen freshmen House Democrats for reelection, triggering a revolt within the right-leaning organization and drawing fierce push-back from the group’s powerful GOP donors.
The decision represents a sharp departure for the traditionally conservative Chamber, which has spent over $100 million backing Republican candidates during the past decade, and it threatens to further complicate the party’s prospects in the November election while driving a split in the business community.
Chamber leaders — including President Suzanne Clark, Chief Executive Officer Tom Donohue and Executive Vice President Neil Bradley — have been pushing the proposal ahead of a Thursday committee vote to finalize a slate of 2020 endorsements.
But the group’s donors and members are up in arms, with some threatening to pull funding and others openly venting their frustration. Some are raising the prospect that Chamber board members will quit in the weeks to come.
[…] The internal fight is just the latest headache for the Chamber, which for decades was regarded as a giant in the lobbying world. The group has recently generated headlines for its frosty relationship with the White House and alleged lavish spending on private jets.
The clash also provides a window into a growing rift in the business community over its place in the Donald Trump-dominated Republican Party, which has at times embraced policies the corporate world opposes. While the Chamber has almost exclusively endorsed Republicans over the past decade, it has collided with the president over everything from tariffs to immigration. (read more)
The CoC was never a “right wing organization”, nor was it a “republican organization”; it was always a multinational globalist organization structured to support Wall Street and destroy Main Street. It was always a feature, not a flaw…. but no-one would believe it.
Well, now… believe it.
Tom Donohue and Suzanne Clark – U.S. Chamber of Commerce
If you understand the basic elements behind the new dimension in American economics, you already understand how three decades of DC legislative and regulatory policy was structured to benefit Wall Street and not Main Street. The intentional shift in monetary policy is what created the distance between two entirely divergent economic engines.
REMEMBER […] there had to be a point where the value of the second economy (Wall Street) surpassed the value of the first economy (Main Street).
Investments, and the bets therein, needed to expand outside of the USA. hence, globalist investing.
However, a second more consequential aspect happened simultaneously. The politicians became more valuable to the Wall Street team than the Main Street team; and Wall Street had deeper pockets because their economy was now larger.
As a consequence Wall Street started funding political candidates and asking for legislation that benefited their interests.
When Main Street was purchasing the legislative influence the outcomes were -generally speaking- beneficial to Main Street, and by direct attachment those outcomes also benefited the average American inside the real economy.
When Wall Street began purchasing the legislative influence, the outcomes therein became beneficial to Wall Street. Those benefits are detached from improving the livelihoods of main street Americans because the benefits are “global”. Global financial interests, multinational investment interests -and corporations therein- became the primary filter through which the DC legislative outcomes were considered.
There is a natural disconnect. (more)
As an outcome of national monetary policy blending commercial banking with institutional investment banking something happened on Wall Street that few understand. If we take the time to understand what happened we can understand why the Stock Market grew and what risks exist today as trade policy is reversed to benefit Main Street.
President Trump and Treasury Secretary Mnuchin have already begun assembling and delivering a new banking system.
Instead of attempting to put Glass-Stegal regulations back into massive banking systems, the Trump administration created a parallel financial system of less-regulated small commercial banks, credit unions and traditional lenders who can operate to the benefit of Main Street without the burdensome regulation of the mega-banks and multinationals. This really is one of the more brilliant solutions to work around a uniquely American economic problem.
[You saw direct evidence of this at work with the Paycheck Protection Program (PPP) in the COVID rescue package. Small and medium lenders were responsive to Main Street and the large institutional (Big Bank) lenders were not.]
♦ When U.S. banks were allowed to merge their investment divisions with their commercial banking operations (the removal of Glass Stegal) something changed on Wall Street.
Companies who are evaluated based on their financial results, profits and losses, remained in their traditional role as traded stocks on the U.S. Stock Market and were evaluated accordingly. However, over time investment instruments -which are secondary to actual company results- created a sub-set within Wall Street that detached from actual bottom line company results.
The resulting secondary financial market system was essentially ‘investment markets’. Both ordinary company stocks and the investment market stocks operate on the same stock exchanges. But the underlying valuation is tied to entirely different metrics.
Financial products were developed (as investment instruments) that are essentially wagers or bets on the outcomes of actual companies traded on Wall Street. Those bets/wagers form the hedge markets and are [essentially] people trading on expectations of performance. The “derivatives market” is the ‘betting system’.
♦Ford Motor Company (only chosen as a commonly known entity) has a stock valuation based on their actual company performance in the market of manufacturing and consumer purchasing of their product. However, there can be thousands of financial instruments wagering on the actual outcome of their performance.
There are two initial bets on these outcomes that form the basis for Hedge-fund activity. Bet ‘A’ that Ford hits a profit number, or bet ‘B’ that they don’t. There are financial instruments created to place each wager. [The wagers form the derivatives] But it doesn’t stop there.
Additionally, more financial products are created that bet on the outcomes of the A/B bets. A secondary financial product might find two sides betting on both A outcome and B outcome.
Party C bets the “A” bet is accurate, and party D bets against the A bet. Party E bets the “B” bet is accurate, and party F bets against the B. If it stopped there we would only have six total participants. But it doesn’t stop there, it goes on and on and on…
The outcome of the bets forms the basis for the tenuous investment markets. The important part to understand is that the investment funds are not necessarily attached to the original company stock, they are now attached to the outcome of bet(s). Hence an inherent disconnect is created.
Subsequently, if the actual stock doesn’t meet it’s expected P-n-L outcome (if the company actually doesn’t do well), and if the financial investment was betting against the outcome, the value of the investment actually goes up. The company performance and the investment bets on the outcome of that performance are two entirely different aspects of the stock market. [Hence two metrics.]
♦Understanding the disconnect between an actual company on the stock market, and the bets for and against that company stock, helps to understand what can happen when fiscal and monetary policy is geared toward the underlying company (Main Street MAGAnomics), and not toward the bets therein (Investment Class).
The U.S. stock markets’ overall value can increase with Main Street policy, and yet the investment class can simultaneously decrease in value even though the company(ies) in the stock market is/are doing better. This detachment is critical to understand because the ‘real economy’ is based on the company, the ‘paper economy’ is based on the financial investment instruments betting on the company.
Trillions can be lost in investment instruments, and yet the overall stock market -as valued by company operations/profits- can increase.
Conversely, there are now classes of companies on the U.S. stock exchange that never make a dime in profit, yet the value of the company increases. This dynamic is possible because the financial investment bets are not connected to the bottom line profit. (Examples include Tesla Motors, Amazon and a host of internet stocks like Facebook and Twitter.) It is this investment group of companies that stands to lose the most if/when the underlying system of betting on them stops or slows.
Specifically due to most recent U.S. fiscal policy, modern multinational banks, including all of the investment products therein, are more closely attached to this investment system on Wall Street. It stands to reason they are at greater risk of financial losses overall with a shift in fiscal policy.
That financial and economic risk is the basic reason behind Trump and Mnuchin putting a protective, secondary and parallel, banking system in place for Main Street.
Big multinational banks can suffer big losses from their investments, and yet the Main Street economy can continue growing, and have access to capital, uninterrupted.
Bottom Line: U.S. companies who have actual connection to a growing U.S. economy can succeed; based on the advantages of the new economic environment and MAGA policy, specifically in the areas of manufacturing, trade and the ancillary benefactors.
Meanwhile U.S. investment assets (multinational investment portfolios) that are disconnected from the actual results of those benefiting U.S. companies, and as a consequence also disconnected from the U.S. economic expansion, can simultaneously drop in value even though the U.S. economy is thriving.
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120 Responses to The Bloom is Off The Ruse – Tom Donohue and U.S. Chamber of Commerce Announce Support for Far-Left Democrats in 2020…
- ajshu says:August 28, 2020 at 11:28 amLou Dobbs has been calling out the duplicitous Chamber of Commerce for years. He saw right through their subversion, attacking their anti-Americanism, and foreign interests almost every day. He was not fooled nor did he pull his punches.Liked by 3 peopleReply
- landman says:August 28, 2020 at 11:30 amI believed that NAFTA and the CoC were the way of the future because globalism was the answer to the world’s problems. When I started a 401k in 2008, the funds with American assets were downplayed in lieu of the hyped-up international funds. For some reason I felt it was important to invest in the U.S. (even though the returns were projected to be much smaller) and allocated accordingly. Glad I went with my gut, it is a joy when I check the balance quarterly!Very blessed to have found the Treehouse and learn how the world actually works. Thanks and congratulations Sundance!LikeReply
- LKAinLA says:August 28, 2020 at 11:32 amThank you Sundance for educating me so I could pay it forward to others. I am sincerely grateful for you via your website. Btw, the above dark picture of Donoughue and company is a Dorian Gray.Liked by 1 personReply
- ImpeachEmAll says:August 28, 2020 at 11:37 amhttps://www.youtube.com/embed/6wRYjtvIYK0?version=3&rel=1&fs=1&autohide=2&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparentLiked by 1 personReply
- talkaftercarefulthought says:August 28, 2020 at 11:46 amWHAT AN AWESOME PUBLIC VINDICATION… sunlight is the best disinfectant!! now for POTUS to win another 4! I’m still not tired of WINNING..LikeReply
- CorwinAmber says:August 28, 2020 at 11:49 ama while back, my kid was up for a job with the CoC…didn’t get it and now glad he didn’t. I thought perhaps he could make a difference there, but after reading this, I realize he would have been tilting at windmills, sigh.LikeReply
- Don Anastas says:August 28, 2020 at 11:50 amWhen I was a young CPA I moved to Scottsdale AZ to begin in private practice. I joined seven (7) local CoC and participated in their mixers, breakfasts and other events. After a year with renewals up I decided to dump them. Why? This was good money chasing bad. The CoCs didn’t provide anything of value. Other business members weren’t interested in networking. I don’t know what I was expecting but being young & naive I found the best way to build a business like mine was not CoC participation or the Yellow Pages. It came down to expending plenty of shoe leather and that I did.Liked by 4 peopleReply
- Joe says:August 28, 2020 at 11:52 amEnd of Saving Private Ryan with the smoke of battle wafting through the air: “Earn this.”LikeReply
- Nagothm says:August 28, 2020 at 11:54 amTrump’s greatest success, and one which I feel will benefit America the longest is the sheer number of globalist/socialist/communist shills masquerading as conservatives that he has caused to expose themselves as who and what they are. They spent decades positioning these people and in four short years Trump has shown the spotlight on them all and decimated their ranks.Liked by 3 peopleReply
- Mark says:August 28, 2020 at 11:57 amI’ve always had a problem with derivatives and all the other clever schemes used to control risk. They actually use these tools to control the market. A failing company can be used by those with better info to actually make money. Options can be used to influence share price. Look into what’s known as “Max Pain”. It’s interesting to watch a few companies and observe the share price to the weekly Max Pain number. An up and coming company can be held back with short attacks and controlled media to sew fear among retail investors who aren’t part of the club, meanwhile those in on the scheme accumulate shares before it gaps up. Likewise, a failing company can be propped up while the best clients exit in a quiet orderly fashion by their shares being sold to unsuspecting retail clients. Laws will never end this. It’s too easy to get around a paper trail by using various, seemingly unrelated methods of communicating F^&%ery that could never be proven. I do have a solution. Use the tax system to affect it. I think short term capital gains should be taxed at 75-80%. The tax rate should decrease in a linear fashion all the way down to 0% at 3-4 years. Option trades and other “betting on the market” schemes should be taxed as immediate gains. That reduces the incentive and rewards investors instead of gamblers.LikeReply
- dufrst says:August 28, 2020 at 12:03 pmThe purge of the GOP continues and the ouster of those who have undermined this party for so long proceeds apace. It’s funny to think that much of this purge is not even being done overtly but many of the NeverTrump, NeoCons, and worthless RINOs are self-deporting themselves from the Party.This process will run its course with results of the 2020 elections. After our victory, it is my hope that Trump, ends the GOP and starts a new political party that enshrines his agenda. I’ve suggested the American Party which will always stand for America First, because after Trump is done, those same elements that have abandoned the GOP led by Trump, will try to return. I say, dispense with them forever with the American Party (or whatever it will be called)! What we saw this week at the RNC is everything we want in our party. It’s Trump’s party now. I hope that it remains so otherwise while Trump is still on top, let’s start a new one! MAGA!LikeReply
- tieoneoncharter.com says:August 28, 2020 at 12:04 pmThis just happened to me a few weeks ago with my Capital One business Credit Card…..I got a letter stating my available credit has been reduced from $12000 to $5000…. I have Class A credit..Pay the bill off every month with few exceptions……..Been with Capital One over 10 Years, never a late payment…..Seems this is the next angle to cripple the small business owner…..Be on the lookout people…..https://www.zerohedge.com/markets/capital-one-cuts-credit-card-borrowing-limits-us-reduces-support-unemployed-americansLiked by 1 personReply
- fauxscienceslayer says:August 28, 2020 at 12:05 pmThe rest of the story, “Paul Harvey, Freedom to Chains”https://www.youtube.com/embed/n0FF13u13WE?version=3&rel=1&fs=1&autohide=2&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparentLikeReply
- Richie says:August 28, 2020 at 12:06 pmSo basically they are saying they support Antifa. As far as I’m concerned anyone who gives support to Far Left Democrats supports terrorism, racism, bigotry, violence and should be officially recognized as the Enemy of the State.Liked by 1 personReply
- islandpalmtrees says:August 28, 2020 at 12:10 pmWould this not make one Heck of a replacement for the classic “Bill On Capital Hill”. Education of the young is important and apparently those that have already been receiving years of propaganda.LikeReply
- Richie says:August 28, 2020 at 12:12 pmOnce You See The Strings on the Marionettes…….it is impossible to return to a time when you did not see them.Liked by 1 personReply
- tax2much says:August 28, 2020 at 12:16 pmWhen you walk through an American city and see all of the abandoned buildings and streets lined with junkies and drug dealers and crack whores you can thank the globalists and the Chamber lobbyists who made all of that possible.LikeReply
- Garrison Hall says:August 28, 2020 at 12:21 pmRest assured, Sundance, thanks in large measure to your diligence, none of us are in the least surprised at the CoC’s political behavior. This recent move is something we could by now easily see coming. (Similarly, we could also see the “conservative” Koch brothers deciding a few months ago to spend money in support of progressives. One of the hallmarks of Fascism is its immense attraction to oligarchs. Because of this we should not be surprised to see the CoC oligarchs making common cause with progressives. The reason this is happening is simple: progressives are, in fact, Fascists.LikeReply
- Richie says:August 28, 2020 at 12:22 pmThis is example why I dont mind if Lindsay Graham is replaced by a Democrat. Hes worse. To hell with the RHINOS. They gave Pelosi Congress and now they trying to give Obama the White House.LikeReply
- The Boss says:August 28, 2020 at 12:26 pmTwenty years ago The Tobacco Institute, the primary lobbying organization for cigarette makers, was forced to close as part of the settlement with the states.
If the Tobacco Institute can be closed, so can the US(eless) C of C. Arguably, the C of C is more harmful to Americans than cigarettes ever were. The C of C harms ALL Americans deliberately.LikeReply
- TarsTarkas says:August 28, 2020 at 12:28 pmRalph Nader was wrong on a lot of things, but he did point out vociferously the financialization of the markets, famously calling it ‘a bet on a bet on a bet on a bet’ and so on. But because he at that time had become marginalized, and he had been so wrong on so many things, he was ignored.LikeReply
- Grandma Covfefe says:August 28, 2020 at 12:30 pmI saw that last night and said to hubbie–“Boom, Sundance had this years ago. Wanna bet Sundance will be furiously writing up this article quickly enough.” We thank you, Sundance, for pointing out subtle moves of what these Destructors of America have done.Now it is up to us Treepers, with Sundance’s materials, we must go to others and educate them all. If they reject the info, fine..just move on to anther person.LikeReply
- scrap1ron says:August 28, 2020 at 12:30 pmThis will make a great campaign ad to run in all the rust belt communities the COC has abused for 40 years.LikeReply
- maxxheadroom777 says:August 28, 2020 at 12:32 pmThe only time I ever saw & heard Tom Donohue speak was to a pair of reporters CSPAN had chosen to interview Donohue for an hour. I watched the whole thing and have never forgotten his arrogance and rudeness to the reporters when they asked him a question he did not like. I’d bet hard money Tammany Hall was a passel of crooks like Donohue, only the Tammany crooks at least tried to keep the geese that laid their golden eggs alive. Donohue don’t give a flying fig for the USA or its people. BTW, “While the Chamber has almost exclusively endorsed Republicans over the past decade…” should be amended to “…exclusively endorsed RINOs over the past decade… .” Hypocritical, forked-tongue RINOs like McCain, Graham, Romney, et effin cetera.