Flying under the radar last week Secretary of the Navy John Phelan, was asked to step down from his duties.
And the reasons coming out of the District of Corruption are cloudy at best.
Why did this happen?
We’re not sure why, but we are featuring a new ranter today that goes by the handle of JadeDragon, with her $0.50 cents worth (adjusted for Oil inflation) with some pretty good insight behind Trump’s mysterious “firing” of John Phelan.
Welcome to the club, “JD.”
The stage is all yours.
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Hi James. I hope this post finds you well, and I want to tell you how much I appreciate your covering subjects about corruption between Wall Street and Washington.
They hit home with me because I spent over 20 years in the financial world as a trader on floor of the NYSE.
It’s a different world today, mostly because of how technology has taken over.
But the greed and corruption haven’t changed.
In fact, because of technology, it has allowed the Boyz in the “Club” (as you like to call them) to get away with anything and everything imaginable.
And, most recently, the TACO trades exemplify what we both know about how the Street sticks it to the little guy.
But today I’m more concerned about the sudden mysterious firing of Navy Secretary John Phelan.
What I have ascertained up till now was that Phelan is a billionaire businessman who had no previous military experience but who raised millions of dollars for Trump’s 2024 presidential campaign.
Phelan’s close relationship with the President has irked Petey Hegseth, who saw Phelan’s direct communications with the president as an attempt to go around him.
Sorry, but to me, Hegseth comes across as a jealous little bitch that needs attention.
Not surprisingly, Deputy Defense Secretary Stephen Feinberg, a close ally of Petey Hegseth’s, wanted to take over shipbuilding and Navy acquisitions.
But these are jobs that normally fall to the Secretary of the Navy…John Phelan.
Feinberg is a billionaire thanks to his career in private equity and is now mounting “his biggest takeover yet: the Pentagon.”
Feinberg is pushing Congress to pass the $1.5 trillion military budget Trump wants while at the same time overseeing the newly created Economic Defense Unit (EDU) in the Defense Department.
The EDU is directing government investment in private sector defense contractors and has cut deals for the government to start taking equity stakes in those businesses.
Hmmm! One must wonder how much of that budget finds its way back into Feinberg’s pocket.
Seeing a pattern here?
But wait!
There’s more!
The New York Times reported that Trump has allegedly been frustrated by Phelan’s inability to fulfill his demand for the first of his new battleships by 2028.
But this was an inability caused by the fact that the U.S. shipbuilding industry doesn’t have the capacity to do it.
And at a Wednesday meeting with Trump, Hegseth and Feinberg convinced the president that Phelan had to go.
On Friday, the Wall Street Journal noted that Trump sided with Hegseth over Phelan, who was his friend and neighbor and raised millions of dollars for him.
Phelan’s firing shows that Trump still supports Hegseth despite his missteps and high-level firings as Hegseth seeks to remake the Pentagon.
I suppose all of this would have been just fine when we were kicking the s**t out of the likes of Libya and/or various other small and p0werless nations that had no way to harm us physically or economically.
But that isn’t what’s happening here now, is it?
Just watch…Trump will soon select Petey Hegseth as the fall guy.
And just like the mysterious resignation of Former Director of the United States National Counterterrorism Center, Joe Kent, I’m sure we’ll never hear the total story of Phelan being fired.
But as you well know, James, behind the curtain, it’s ALWAYS ABOUT THE MONEY.
And it’s business as usual.
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Wow, JD!
What a way to kick-start your inaugural rant with us.
And we think you are right about Phelan, Trump, Feinberg and Hegseth (Petey…LOL).
Feel free to rant with us anytime.
As always, if you – our Dear Readers – have a rant you would like to share then please send it to us.
You never know whose life will be affected by it.
And if you want to see some NSFW rants then go (HERE).
Share this with a friend… especially if they missed hearing about the latest loss in the Trump administration. They’ll thank YOU later.
And tell them:
We’re Not Just About Finance
But we use finance to give you hope.
“And you shall know the truth, and the truth shall make you free.”
