Wall Street voted: Russiagate is over

If you listen to late-night comedians the Mueller testimony was a huge success, but they are preaching to a shrinking and increasingly isolated choir.
Wall Street voted on the Mueller testimony as well, and they voted in the only way they know how - with cash.

On the day Mueller testified before Congress about his 400-plus page report about the Trump campaign and the Russians, the VanEck Russia (RSX) exchange-traded fund had already been dumped the night before—going from a trading volume of over 6 million shares to 4.2 million on Wednesday. By Friday, RSX volume rose to 5.5 million shares, hitting $23.64 per share.
...“The conclusion of the Mueller investigation reduces the urgency for the U.S. Congress to impose additional sanctions on Russia,” says Federico Kaune, head of emerging-markets fixed income at UBS Asset Management. Kaune warns that Russian ruble valuations are stretched now that investors doubt deeper sanctions.

Year-to-date, Russia is the hottest-performing emerging market. The VanEck ETF is up 26% while No. 2 Brazil is up 18.9% and the MSCI Emerging Markets benchmark is up 9.3%.

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Putin's stock market

Not only does Moscow have one of the hottest stock markets in the world, it's expected to rise another 25% in the coming year. Russian corporate profits are at a three-year high, while the Bank of Russia reducing interest rates because inflation is not a factor.

Now Congress could always impose more sanctions on Russia out of spite or another round of false hacking stories, but consider the example of America's embargo on Russian weapons. How effective has that been?

Russia's arms industry has become the second-largest in the world, knocking the UK into third place, according to a new report by the Stockholm International Peace Research Institute (SIPRI).
Russian companies in the SIPRI Top 100, an index of the largest arms-producing and military services companies in the world, made 9.5% of total arms sales in 2017.
The SIPRI Top 100 contains 10 Russian companies that increased arms sales by a collective 8.5% in 2017 to $37.7 billion.
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detroitmechworks's picture

looks like the rats have decided to jump ship. Something tells me that some day we'll be hearing about how the awful Americans tortured the poor martyrs Epstein and Clinton, who only gave the Americans what they wanted...

I'm not making accusations. Just saying that certain things tend to get smeared certain ways when you want to make something somebody's fault. Especially when you want to make yourself look good.

[video:https://www.youtube.com/watch?v=u3NAsnedf9I]

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I do not pretend I know what I do not know.

snoopydawg's picture

Easy. The corporations and the rich. Of course. We knew that was one reason why democrats focused on it since Her lost the easiest election in history to a game show host and and failed real estate mongrel.

For over two years RussiaGate has accounted for a substantial proportion of all mainstream U.S. media political journalism and, because U.S. media have significant agenda-setting propulsion, of global media coverage as well. The timing has been catastrophic. The Trump administration has shredded environmental protections,jettisoned nuclear agreements, exacerbated tensions with U.S. rivals and pandered to the rich.

In place of sustained media attention to the end of the human species from global warming, its even more imminent demise in nuclear warfare, or the further evisceration of democratic discourse in a society riven by historically unprecedented wealth inequalities and unbridled capitalistic greed, corporate media suffocate their publics with a puerile narrative of alleged collusion between the 2016 Trump campaign and Russia.

The RussiaGate discourse is profoundly mendacious and hypocritical. It presumes that the U.S. electoral system enjoys a high degree of public trust and security. Nothing could be further from the truth. The U.S. democratic system is deeply entrenched in a dystopian two-party system dominated by the rich and largely answerable to corporate oligopolies; it is ideologically beholden to the values of extreme capitalism and imperialist domination. Problems with the U.S. electoral system and media are extensive and well documented.

U.S. electoral procedures are profoundly compromised by an Electoral College that detaches votes counted from votes that count. The composition of electoral districts has been gerrymandered to minimize the possibility of electoral surprises. Voting is dependent on easily hackable corporate-manufactured electronic voting systems. Right-wing administrations reach into a tool-box of voter-suppression tactics that run the gamut from minimizing available voting centers and voting machines through to excessive voter identification requirements and the elimination of swathes of the voting lists (e.g. groups such as people who have committed felonies or people whose names are similar to those of felons, or people who have not voted in previous elections). Even the results of campaigns are corrupted when outgoing regimes abuse their remaining weeks in power to push through regulations or legislation that will scuttle the efforts of their successors. Democratic theory presupposes the formal equivalence of voice in the battlefield of ideas. Nothing could be further from the reality of the U.S. “democratic” system in which a small number of powerful interests enjoy ear-splitting megaphonic advantage on the basis of often anonymous “dark” money donations filtered through SuperPacs and their ilk, operating outside the confines of (the somewhat more transparently monitored) electoral campaigns.

Browsing the wreck list a few years ago and you'd see lots of diaries on important issues that affect people's lives. But now? Russia Gate. Mueller has Trump over a barrel. Trump Trump Trump Trump. And other topics related to Trump's presidency, but not so much other issues that are more important like wars, climate change, and lots of other issues that we have covered here. And the biggest cheerleader for distracting people is Rachel Russian Madcow. I remember a time when Rachel would be talking non stop about the injustice being done to Julian Assange. The kids are very happy at what's happening to him because they think he worked with Putin to keep Her out of the WH. Never mind that he isn't being charged for that. And Chelsea and Snowden? Nary a word. Of course Snowden won't talk about Russia because he too is Putin's puppet. Even though it was Obama that stuck him in Russia as he was trying to get somewhere else.

Lots of cui Bono..

Oops sorry I got distracted by my rant. People who buy into Russia Gate say that Putin wants to sow discord in this country by getting Trump to do his bidding. By placing those ads that emphasized the BLM and today I learned that Trump fired Coates because Vlad told him to. Gee..I wonder why Vlad took so long to decide that he should go?

But their biggest thing is that Russian interference destroyed our democracy and its process. How in the world could Russia have made it worse? Gerrymandering. Long voting lines. Voting machines that are easily hacked. Super delegates and the DNC admitting that they can override the voters and choose whomever they want. But Russia...right?

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Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

snoopydawg's picture

@snoopydawg

Who Benefits?

Why then does the RussiaGate discourse have so much traction? Who benefits?

RussiaGate serves the interest of a (No. 1) corrupted Democratic Party, whose biased and arguably incompetent campaign management lost it the 2016 election, in alliance (No. 2) with powerful factions of the U.S. industrial-military-surveillance establishment that for the past 19 years, through NATO and other malleable international agencies, has sought to undermine Russian President Vladimir Putin’s leadership, dismember Russia and the Russian Federation (undoubtedly for the benefit of Western capital) and, more latterly, further contain China in a perpetual and titanic struggle for the heart of EurAsia.

In so far as Trump had indicated (for whatever reasons) in the course of his campaign that he disagreed with at least some aspects of this long-term strategy, he came to be viewed as unreliable by the U.S. security state.

While serving the immediate purpose of containing Trump, U.S. accusations of Russian meddling in U.S. elections were farcical in the context of a well-chronicled history of U.S. “meddling” in the elections and politics of nations for over 100 years. This meddling across all hemispheres has included the staging of coups, invasions and occupations on false pretext in addition to numerous instances of “color revolution” strategies involving the financing of opposition parties and provoking uprisings, frequently coupled with economic warfare (sanctions).

A further beneficiary (No.3) is the sum of all those interests that favor a narrowing of public expression to a framework supportive of neoliberal imperialism. Paradoxically exploiting the moral panic associated with both Trump’s plaintive wailing about “fake news” whenever mainstream media coverage is critical of him, and social media embarrassment over exposure of their big-data sales to powerful corporate customers, these interests have called for more regulation of, as well as self-censorship by, social media.

How many websites have been banned from Farcebook, Twitler and Goggled since Russia Gate started? Think that the police haven't been wanting any excuse to get Cop Watch off the Internet? Why? Because they were holding cops accountable for their murderous ways. The Atlantic Council joined with FB to decide who should be censured because they were telling us the truth about the PTB.

This is a good article that you might enjoy reading the whole thing.

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@snoopydawg
Those sanctions on oil and gas, who profits from them, eh?

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I've seen lots of changes. What doesn't change is people. Same old hairless apes.

Pluto's Republic's picture

@The Voice In the Wilderness

...are NOCs — nationalized oil companies that are owned by the people and not by the cartel of private corporations. Profits benefit social programs rather than shareholders. The neoliberal regime considered this to be a crime against capitalism, punishable by economic and physical destruction of the nation and its people. Cuba, Venezuela, Libya, Syria, Iraq, Iran, Yemen, Vietnam, and every country the US attacks and destroys all have this in common.

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____________________

The political system is what it is because the People are who they are. — Plato

@Pluto's Republic

since 1918, whether labor and social democracy shall have any ownership or benefit from the exploitation of resources. Syria, Libya, and Iran are not social democracies, and they are definitely not Norway, but they had nationalized their resources to an extent, and that extent was too much for Chevron and the Saudi royals. Saudi Arabia didn't attack Assad because he is a terrible dictator. They attacked him because he's too democratic!

The Third World is not Poor. The Third World is Rich in Resources. The People of the Third World are Poor. And they are Poor at the point of a gun. Those guns are provided either directly or through loan guarantees by the American taxpayer.

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intentionally or unintentionally using misdirection. His actual puppet masters are Adelson and Netanyahu.

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