Well…as you can see, I completely forgot to do a second one today and I am going to blame being busy as heck for the first time in years…but, I just had to talk a little about the idiot trump’s latest meltdown and I’m still laughing about it…or I would be if it wasn’t so completely unhinged…after idiot boy went off on the head of the fed for not lowering interest rates, calling him a bigger enemy than China…a guy that trump appointed by the way…China announced that it was increasing tariffs on lots of American products including a 25% one on cars and trumpy boy just lost it…going on twitter to say “Our great American companies are hereby ordered to start looking for an alternative to China including bringing your companies home and making your products in the US…” Now, correct me if I’m wrong, but isn’t the repub party the one that keeps shouting socialism every time that anyone proposes a little regulation for the unfettered power of business? But now, all of them are silent when the leader of their party “orders” all businesses to do the governments bidding and help him attack China…sounds like central planning to me, a hallmark of communism where the government told everyone what to do and how to do it…hey, repubs…how’s this crazy ass that you continue to support working out for you? Unless you do something about the demented idiot you put in the WH, it’s going to be a bloodbath for you in 2020…oh, and by the way, after trump started attacking the fed and China today, the stock market crashed another 600+ points, wiping out hundreds of billions of dollars in retirement savings for anyone who is lucky enough to have a 401k…oh, and one last piece of derangement that you should know about today…idiot boy has threatened to burn down everyone’s 401k’s if you don’t vote for him….okay, it’s 25th amendment time, folks….Pence, are you listening? geez….
Tag Archives: Federal Reserve
Another nail in the tax cut coffin…
Well…okay, I know not many of you follow what the fed does on a daily basis, but today fed chair Powell lowered interest rates by .25 percent citing weak manufacturing and business investment data….now hmmmm…let’s think back a bit to 2017…I wonder what the reason was for the huge tax cut given to business and millionaires? Yep you guessed it…they were pushed and pushed by the repubs that they would “jump start” exactly those two things…oh, and also pay for themselves and give every working person a 4,000 dollar raise…but the CRS study found that the tax cuts did nothing to juice economic growth or raise wages…it just transferred wealth to the 1% and is causing trillion dollar deficits as far as the eye can see. You know, this should be the last nail in the tax cut coffin but just yesterday, Ted Cruz and his cronies have floated a new scheme to cut taxes on the rich even more…saying that “it will work this time” to keep the economy moving…yeah, right, Ted…never worked before….won’t work now…what a damn zombie idea that just won’t die…
The tax scam revealed….
Well…just go suited up to get on the bike and it started to rain again and it is nowhere near warm enough to get out in the rain, so I thought I’d come back here to do one of these while I wait for the weather to cooperate. Just read a short little article on Kos that is just another small bit of evidence that the tax cuts for the rich and corporations that the repubs passed, using investment and job growth as the reason for cutting taxes, is just the scam that those of us in the reality based world said it was. The Federal Reserve does a survey every quarter to judge the state of the economy, asking CEO’s to report if they are going to invest the tax cuts and/or crate more jobs….I think you can guess where this is going…almost 80% of those surveyed said that they have NO plans to increase investment or to hire anyone for both this year and next…let that sink in a minute…the entire reason that the repubs gave for screwing over most of the US and exploding the debt was to get the economy going and that they would create good jobs….but, I guess they didn’t check with anyone other than their masters when they did the tax cuts that ended up benefiting only their masters…with the rich getting over 90% of the cuts. But, don’t expect anything to change as long as the repubs are in charge…after all, they don’t believe in facts or empirical data…just their “gut” feelings….so, let’s get out and vote this fall…they need to go away soon….geez…
Gonna pick on the Fed a little today…
Well…this one is going to be something that probably very few really care about…that is the inaction of the Fed to do anything to get the economy moving again. I wonder if they understand that one of their jobs is to try to ensure full employment? With inflation falling to almost deflationary levels, what the hell are they waiting for? Before everything in government became politicized, the Fed would have looked at the anemic job and GDP growth a few months back and done some easing to put more money into the economy, but this fed, and Bernanke seem more concerned that they look like they are favoring one party over the other which leads to inaction on their part that is unconscionable…they should have their foot on the pedal until inflation hits at least 4-5% and we have a sustainable recovery…not the fake recovery we have been in for the last two years. Can’t anyone think anymore? I knew what to do after my basic econ class in my first year of college…what’s their excuse? Geez….
What’s wrong with this picture?
Well…just a short one…the events of the last couple of days expose the repubs for what they truly are…the job killers that they are always accusing the dems of being. In front of the fed meeting that is going on over the next couple of days, the repub thugs have sent a letter to the fed chairman threatening him with some kind of action if he allows another bout of stimulus to prevent the economy from falling back into recession. Never mind that the fed is an independent entity that was specifically designed to prevent the kind of legislative meddling that the repubs hate unless it is to benefit business…when there is possibilty that the fed can use it’s few tools to benefit the economy as a whole, the repubs go off on their crazy train and start making threats like the terrorists they are. This time the public needs to step up and hold these thugs feet to the fire and force them to start to govern for more than the top 1%…geez…
A mixed bag….
Well….got a slight shock this morning with the coffee shop that I have gone to every morning for more than 6 years closing with no warning…I’m a little un-anchored right now sine the Biggby that is up the street is not Kava….I am going to miss the ladies that worked there and seeing the rest of the regulars…oh, well….next, it finally hit me that my daughter is moving to Seattle next week….I know that I didn’t visit much while she was in Chicago but there was always the possibility that I could….but things change and I have to get used to it…just a little unsettled today…
On Politics….we have the idiot repubs in the US Senate blocking the nomination of a Nobel prize winning economist whose specialty is labor markets to the governing board of the Fed…if you had any thought that these guys don’t give a damn about job creation, this is another brick in the wall and goes along with the decisions made in the boardrooms across the country (after consultation with the repubs), that business is going to sit on their hands with job creation to make sure that jobs remain an issue into the 2012 election….this should be against the law…geez…