Our big, beautiful boy is about to become a man for the second time, and life has never been so good. Trump heads into his Monday inauguration with the entirety of both the Republican Party and the business world fawning over him in a way they didn’t when he was first inaugurated in 2017. Democrats in Congress have substituted the #Resistance for the #RelativeCooperation. The many confirmation hearings this week for his nominees, controversial or not, went without serious incident that would call into question their viability. Trump and his envoys played a major role in working with the Biden administration to achieve an elusive ceasefire in Gaza this week. He was going to be chilly at the outdoors inauguration—the setup for which a lot of resources had been devoted to—so he got them to move it indoors. Once that’s done, he’s going to be firing off executive orders at a rapid clip. The Resolute Desk Diet Coke Button will be reinstalled. Plus: He doesn’t have to go to jail! If that’s not a plus, what is?
Trump must think he’s king of the world right now. He’s getting everything he’s always wanted. The wealthy and powerful are swearing allegiance to him. He’s going to hold what was, at least, the most respected political office in the world. He’ll be immune from prosecution and can do what he likes. Elisabeth Bumiller in the New York Times writes that billionaires and multimillionaires “are flocking to Washington,” buying houses in the most prestigious neighborhoods. Who wouldn’t be first in line for the oligarchy, if you had the money?
Put more plainly, the pigs are lining up at the trough.
Trump suddenly has a lot more money, too.
The $TRUMP memecoin — a financial asset that didn’t exist on Friday afternoon — now accounts for about 89% of Donald Trump’s net worth.
Why it matters: The coin (technically a token that’s issued on the Solana blockchain) has massively enriched Trump personally, enabled a mechanism for the crypto industry to funnel cash to him, and created a volatile financial asset that allows anyone in the world to financially speculate on Trump’s political fortunes.
After another massive overnight rally, as of Sunday morning Trump’s crypto holdings were worth as much as $58 billion on paper, enough — with his other assets — to make him one of the world’s 25 richest people.
Where it stands: While the Biden administration broadly took the view that memecoins like $TRUMP are securities subject to SEC regulation, the incoming Trump administration has pledged to be much more crypto-friendly and to regulate such coins with a light or nonexistent touch.
Some news sources tut-tutted about ethics and conflicts of interest and self-dealing and such, but they’re no fun.
Trump held a pre-inauguration rally and the actual Village People performed there. Does it get any better?
Trump is at his peak, says The Economist. It’s all downhill from here. “Mr Trump is at the peak of his power, before he has had to do anything unpopular, or disappoint any of the factions competing for his attention. … The beginning of the end of the Trump era will kick off with large-scale deportations on Tuesday, once the inauguration festivities have come to a close.”
And the price of eggs will continue to climb. Once Trump actually starts doing stuff, the glow might wear off pretty darn fast. I dare say the oligarchs won’t care.
I understand all parties have signed the Gaza cease fire deal, and that exchanges of hostages/prisoners are already beginning. I hope it holds up. A lot can go haywire.
Needless to say, I will not be watching the inauguration or following the news about it.