Ep. 864: The Deep State, Flow State and Animal Weapons with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Deep State
I call this phenomenon the deep state. People elected George W. Bush with certain expectations and perhaps the more ideologically engaged saw him fulfill their expectations of tax cuts and unilateral military power. Of course, it got us into a mess and there was a lot of rethinking. We elected Barack Obama on the promise of hope and change. But this candidate who campaigned against the surge in Iraq, against illegal surveillance, against most of the policies that Bush had instituted, ended up continuing many of them. And you see this suffused throughout our governmental structure. It's the same Wall Street types,. whether it's Tim Geithner or Hank Paulson and Secretary of the Treasury, they're essentially birds of
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