Well…just as we see daily, the ignorance of trump and all of his minions knows no bounds and that was shown again this week when their stupidity on the economy saw the Dow down another 1,000 points…over 600 just today. I know I’ve said this before but “how’s that IRA today, trump voters?” How’s the MAGA shit working for you? You’ve lost almost 20% in the past month and yet you still think the con man in chief knows what he’s doing…after all, he was “successful” on “the Apprentice”. Every damn economist who is not in the tank for trump has been saying the economy would react to the tax cut scam by continuing to grow for a year or so and then, once the rich got their payoff, it would tank and head for a recession. The warning signs have been shouting for some time now, new home starts are down almost 15% in the past 6 months…a really good indicator for where the economy is heading…and the layoff notices are starting to snowball with the idiot trump’s tariffs…almost 100,000 people lost their jobs in the past month as a direct result of trump’s economic ignorance and magical thinking….even farmers are staying with trump even though they are going broke and the world where they sold their crops doesn’t want anything from us anymore…just because of trump…the rampant stupidity in this country that gave us trump is going to continue because those people just love to hate….and they are just too dumb to do anything else…impeach…
Tag Archives: economy
Looks like the repubs are going to crash the economy…
Well…I have had enough of the political terrorists on the right using the economy as their hostage after they continue to lose elections…and the thing is, only a small fraction of the country want what they are selling…starving people, tax cuts for the rich, and unfettered corporate hegemony over the economy….this is not going to be pretty…and these assholes had no problem raising the debt limit 19 times while ole GW was in office…the only objection they have is that Obama is presidentin’ while black….I wonder when their corporate masters are going to get tired of losing trillions in equity while these idiots play with government…I have no other words…
The right is still stupid and crazy…
Well…as you know, I am amazed that Jennifer Rubin still has a job at the Washington Post and she showed again today why she shouldn’t. With every column being nothing but regurgitation of repub talking points, I guess I shouldn’t be surprised when she spouts the latest one…that Obama’s recovery in the economy is not what he promised. Okay…let me get this straight…the right does everything they can to make sure that a fact based response to the downturn will be unsuccessful by their relentless carping on the deficit and making sure that the stimulus was too small, and now you have ole Jennifer bitching that the recovery isn’t better? The only thing I have to say to that is: get the hell out of the way and let serious, non-fanatic, people do their jobs instead of cheering for America to fail. Just like Rush and the rest of the idiots on the right…just shut the hell up and let the adults run the government…geez…
Okay…that one sounded better in my head than it did after I wrote it…I’ll try to do better next time…
A couple more things…
Well…have been reading quite a bit today….okay, I do that everyday so I guess it’s not unusual…in that reading, I did find a couple of tidbits that shed some light on the effects that ole Mitt’s economic proposals would have if he were elected…first…the WAPO has a new series going on where they ask noted economists whose plans will have the best effect for the economy if implemented…so far, they have all come down on Obama’s side saying that Mitt’s plans to cut spending and lower taxes for the rich will make the economy worse….since those spending cuts will result in real job losses across the economy and tax cuts for the rich will explode the deficit. One of the other planks of ole Mitt’s plans is to continue to deregulate everything in business, but an interesting story in the Trib today shows how drug companies, in the part of the industry that is not regulated, have been stealing billions from you and me by paying generic drug manufacturers to not introduce generic versions of their cash cows…in essence colluding to fix prices…and ole Mitt wants more of this? Oh, yeah…that’s right, he has gotten the bulk of the campaign funding from this industry…I guess they are trying to ensure there is no competition in the presidential race, too. No wonder ole Mitt doesn’t want to reveal any details of his plans, stupid as they are….geez…
Surprised by the Detroit News…
Well…Imagine my shock this morning when I opened the Detroit News (a staunchly conservative repub paper) and found an article by a Nobel prize winning economist, Joseph Stiglitz, who destroyed the normal repub arguments for their economic plan of cuts and austerity by the use of facts and history…something that will fall on deaf ears on the right but was still surprising to see in their propaganda rag. He went on to stress something that I have been harping on for almost the past two years that the concentration of wealth in the top 1% distorts the economy and is the primary factor why the economy is not recovering…because the people who would spend the money no longer have it…and that lowers the aggregate demand in the economy…again, something that I have been saying for a long time…that no business is going to add jobs until demand rises and the top 1% can’t spend as much as the middle class would if they had the money that the top has stolen by rigging the system….in this era of opinion and ideology that replaces objective facts, I am starting to lose hope that things will ever change…geez…
Some radical proposals for the economy…
Well…with the latest numbers that have come out on family income over the past couple of weeks showing that poverty and income inequality is skyrocketing in the US, and the connection between this inequality and the lackluster recovery, I think it is time to do something radical. But first let’s place the responsibility for these changes squarely where they belong, on the repub policies over the past thirty years that have resulted in the top 1% doing well and everyone else going backward. I know, I’ve railed about this before just because what I was seeing an feeling felt wrong, but with numbers like these it is time to stop nibbling at the corners and take a huge bite out of the core problems. First, I would propose an immediate change in ceo pay to 1 dollar per year and structural changes that would prevent any ceo from being compensated more than 50 times the average of the people that work for him or her…this would give them the incentive to raise all boats as the saying goes since rising pay of his workers would also raise the ceo’s pay. Second, I would propose worker representation on every corporate board to break the cycle of cronyism and incestous relationships that pervade corporate America and give all stakeholders a voice in their livelihoods….third, I would immediately raise the pay of all of the workers to the difference of the 1 dollar ceo pay proposed and what the average of the pay has been over the past 5 years….putting billions if not trillions of dollars in the hands of people that will spend it and giving a huge boost to our manufacturing and service industries; creating a truly self-sustaining recovery that will be spread across the economic spectrum….
Okay, I know this is really quite radical and will be branded as socialist, communist, and maybe even Martian…but, what we are currently doing is not working due in large part to the desire of the repubs to ensure that Obama doesn’t get a second term….so we need to do something new…
Another trillion dollar tea party tax…
Well….I hope you’ve had a chance to see that what I predicted last week with interest rates rising for the first leg of the tea party tax on the middle class has happened and there is a new leg to that story that is occurring as we speak….the Dow is down almost 400 hundred points and that means any of us that have 401K’s or IRA’s (and that is most of us) have just paid another trillion dollars for the tea party nonsense that held up raising the debt ceiling. Yep, but you shouldn’t be surprised…the republicans are always wrong on the economy…every fricking thing they do is the exact opposite of what should be done…and remember, it was the tea partiers led by Michelle Bachmann that wanted the US to default on it’s obligations and truly believed that there would be no effect…what do you say now Michelle?…what do you say now Cantor? Geez…what idiots….
Oh, one last thing, where are the jobs Boehner?
I think they may have won….
Well…have been reading a lot today…yeah, I know, I do that everyday but today it seems that an idea has formed that I wasn’t even thinking about. Weird, huh? Not really, I’ll bet that happens to everyone…we have this long, protracted recession on our hands and one thing that I haven’t heard anything about is the decline of the middle class and it’s effect on the recovery. Since 75% of the economy is consumer spending, when the consumers have been squeezed as they have been by outsourcing of jobs, wage cuts, and rising health care costs, the engine of growth that used to be the middle class can only sputter. It has been an orchestrated attack on labor by the right and business that has led us to these straights; where the average worker makes less today than he did 30 years ago but the top one percent’s share of the economy has grown from 9 percent 30 years ago to almost 25% today. It is clear that it has been the goal of the right to decimate organized labor but I can’t understand why this same labor keeps voting for them because they will “get government out of the way” and allow them to keep more of their money. But more of less wages is always going to be less than what they would have had if the playing field wasn’t so tilted to business. And, the repubs have their thumb on the scale taking more and more from you and me and giving it to the rich.
I’ll end with a question that I now ask of all business but was originally aimed at GM: “Who is going to buy your 40 thousand dollar Suburbans when the middle class is destroyed?” I think we now know the answer….