Countdown 85 days THE ECONOMIC PICTURE (BLS AND CPI) It’s the economy and things aren’t at all rosy. The next great recession is upon us. The ending of aid for unemployed workers “would hurt the economy nearly as badly as the virus” says Paul Krugman a noted economist. The economy is reeling with the ending of the eviction moratoriums and the freeze on foreclosures expiring the times look bleak for those who have no lifeline left. In January the…
Countdown 87 days TODAY’S THOUGHTS The newly revealed consistent policy themes disguised as actual policies for the Trump administration involve energy, racism, religious liberty, and guns. These are all themes he likes to poke at and his rhetoric only has an appeal to those who yearn for the past. This seems to be the policy part of the Trump campaign reset. These themes are all sprinkled with the politics of preying on those in grief. Take energy, his…
Countdown 88 days TRUMP’S THOUGHTS It’s difficult to get into anyone’s head let alone a stable genius with a very large brain. Let me attempt this feat. I do have some similar attributes, as I have an actual degree in Economics and graduated in 1969. I know Trump claimed to have a degree in Economics and graduated in 1968. He has falsely claimed he graduated at the top of his class, which has proven to be patently false and…
Countdown 89 days TRUMP’S CHINA CONUNRUM For the last 3 1/2 years Trump has had the whole gamut of relations with Xi the Chinese President. The policies Trump has pursued have been hap-hazard and counter-productive in most cases. China has eaten his breakfast, lunch, and dinner in his efforts with tariffs. Trump worked hard initially with Xi, charming him with his walk through the gilded Mar-a Lago resort, and when Trump was in Beijing he posed photos with…
Countdown 90 days JUST THE FACTS Trump remains a fundamental threat to the public health of the American citizens with his rhetoric, which counters science and medical experts. His continued use of observations by individuals that confirm his suspicions and feelings make it impossible to promote actual science and facts. Take Hydroxychloroquine, there have been 3 double blind studies on the drug and each have come to the same conclusion that there is no relationship between the drug and…
Countdown 91 Days DID YOU KNOW? Below is a summary of the Trump interview as shown in an article in the Washington Post, and Trump’s nominee for Under Secretary of Defense. IN A NEW INTERVIEW, TRUMP AGAIN SHOWS THAT HE’S PUTIN’S PUPPET July 29, 2020 Opinion/Facts So Jonathan Swan of Axios did what Chris Wallace of Fox News did not do in an otherwise admirable interview with President Trump: He asked about the reports of Russia placing bounties on the heads of…
Countdown 92 days TODAY’S THOUGHTS The Fed is making a request to ease the capital requirements for Banks. What could go wrong? I keep thinking déjà vu with the Republicans wanting to include legislation that would loosen the 10-year-old Dodd-Frank restrictions that provide the banks a cushion in case of a significant downturn, which is now imminent. The banks and the Fed claim they need the change to handle the influx of customer deposits as a result of the crisis….
OUTLOOK AND OPINION The largest single loss of GDP occurred in the 3 months Apr-Jun, 2020. The virus wiped out 5 years of economic growth. At the same time the Fed and Trump has touted a V shaped recovery in the economy. Thus far the economy since March has only recovered by 45% from the low point. The remaining 55% will be the hardest. Economists predict that the economy will not fully recover to 2019 levels prior to 2022. We…
Countdown 94 Days IT’S NOT THE ECONOMY STUPID I’ll give Steve Mnunchin Secretary of the Treasury and Jerome Powell Chair of the Federal Reserve an A for their efforts to keep the stock markets riding high. I’ll give them an F for handling the economy. The Stock Market is not any indication of the health of the economy. It never has and never will be. For those like President Trump that are confused, let me explain. The markets, DOW and…