Economy

Shocked, Stunned, Need Time To Absorb Before Detailed Analysis Over Coming Days!

Ronald 84 Comments

This author and blogger is totally shocked and stunned, and needs time to absorb the victory of Donald Trump in the Presidential Election of 2016.

So over time, I will provide detailed analysis over what has happened.

But I can say that I weep for our nation, and the body blow of the Trump victory over the legacy of Barack Obama, and the danger presented to the New Deal of Franklin D. Roosevelt and the Great Society of Lyndon B. Johnson.

I also weep for the harm it does to our children of all races, and to girls and women, and to ethnic and racial minorities, and to our economy and international affairs.

This is truly a major turning point, and a likely constitutional crisis far greater than presented by Richard Nixon four decades ago.

That is all for now and for today.

I apologize for being so wrong in my prognostications, but share that with the overwhelming number of others who study and discuss and write about American politics!

Today, shed tears over what has happened, and then the struggle to do what can be done to lessen the impact of Donald Trump must begin tomorrow!

Xenophobia, Misogyny, Racism, Nativism, Homophobia Must Be Fought In Favor Of Inclusion, Tolerance, And Diversity!

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What has made America a great nation is the inclusion of all kinds of ethnic, national, and religious groups in American life, the promotion of diversity and tolerance!

But we also have always had an ugly strain of xenophobia, misognyn, racism. nativism, and homophobia which has permeated America!

Donald Trump is bringing out the worst elements in America, and he has stained the Presidential campaign with his promotion of fear and demagoguery!

The man is NOT a conservative; he is NOT a Republican; he is NOT a liberal; he is NOT a Democrat—he is truly a “Trumpite”, who has hijacked the Republican Party and the conservative movement and is, effectively, destroying both the party and the movement, as the situation, which is presently existing, insures a complete disruption of the political ideologies and political parties that have been part of the tradition of American history.

Donald Trump is a ‘loose cannon”, a demagogue who is arousing the worst elements of American life, and even without winning, he is undermining the possibility of dealing with the major issues this nation faces!

Trump knows nothing of foreign or military policy!  Trump knows nothing about everyday life for most Americans! Trump has no developed ideas to deal with terrorism, the economy, or climate change!  Trump is a “Know Nothing” in the worst way one can describe that term!

Donald Trump is a reckless and uncouth “wild card” who will help to transform American politics in a negative fashion, undermining the long term future of America!  Bigotry, bluster, bullying, and insulting undermines the whole concept of being the leader of the “free world”, and is unacceptable as a new trend in American politics and history!

The Reality Despite Quinnipiac Poll: Lowest Unemployment Rate And Highest Job Growth Since 2008!

Ronald 1 Comment

The Quinnipiac Poll may show Barack Obama to be the worst President since 1945, but it is clearly an outlier, and should be totally ignored.

The facts are that we have just learned that the unemployment rate is now, at 6.1 percent, at the lowest since September 2008, and over the past five months, more than a million jobs have been created, and last month, 288,000 jobs were created, the most in any month since the end of 2008.

So Barack Obama has succeeded in taking us out of the worst conditions of the Great Recession of George W. Bush. Additionally, the economic growth is really taking off, according to economists, the fastest growth in the first half of the year since 1999.

This has occurred despite constant obstructionism and refusal to cooperate of the Republican Party in Congress, and the only reason that wages are not higher, and the middle class and the poor are still in crisis, is due to their refusal to cooperate in creation of infrastructure jobs, raising the minimum wage, and extending unemployment compensation. So private sector jobs have been created in larger numbers than any previous President, but public sector jobs have become victim to the machinations of John Boehner, Mitch McConnell, et al.

But the Republicans are failing to prevent great progress, including the highest stock market finish in history today, and they will pay for this at the midterm election, as the Democrats can now say that the economic policy of Barack Obama is working, and that will motivate more Democrats and Independents to come out and vote in the midterm Congressional elections and the state elections.

If prosperity continues, by the time Barack Obama finishes his Presidency, he might be seen as one of the great Presidents on the issue of revival of the economy, and without a major war, which helped Franklin D. Roosevelt to push us out of the Great Depression after an equivalent six long years!

The Republicans And The Economy: A Losing Issue, Ultimately!

Ronald 1 Comment

The Republican Party, and their Presidential team of Mitt Romney and Paul Ryan, love to say that we are NOT better off than we were four years ago, without pointing out that they have prevented any legislation to create jobs, and have done everything possible in their states of control to cut the number of teachers, firefighters, police officers and other public employees, therefore keeping the unemployment rate above 8 percent.

The fact that 4.5 million jobs have been created under Barack Obama, more than under eight years of George W. Bush, is ignored!

The fact that the stock market has reached an all time high, and doubled from its low point in 2009, is ignored!

The fact that the inflation rate is very low is ignored!

The fact that the corporations are doing well, and sitting on trillions of dollars of available capital for investments, as a ploy to defeat Barack Obama for wanting to regulate, and tax them at a higher rate as they were in the past, is ignored!

Public opinion polls make clear that while the American people are not happy with the economy, they trust Barack Obama to care more about them and their future, than they do Mitt Romney, the guy who actually laid off people at Bain Capital, and accumulated vast wealth at the expense of the American economy, and thinks that middle class people make $200,000-$250,000 a year, demonstrating that he has no clue as to the life of the average American!

And even worse, he and Paul Ryan do not give a damn about the average American–whether senior citizen, college student, African American, Hispanic-Latino, women, the poor, or working class white!

The Republican Party is flailing, and no intelligent person is listening to their arguments on the economy!

Amazing Transformation Of Presidential Campaign Of 2012: From Barack Obama’s Economic Record To Protection Of Medicare!

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The last 72 hours have been unbelievable, the best stroke of luck possible for President Barack Obama and the Democrats!

It looked as if the issue of the campaign would be the economy, which Mitt Romney was trying to make it for the past few months.

Instead, it is the Paul Ryan plan for transforming Medicare to a voucher system over ten years that has become the issue of the campaign, and it is an issue which Barack Obama can use effectively against Mitt Romney and Paul Ryan.

It is already evident that Mitt Romney knows the whole campaign has been upended by his unwise choice of a lightning rod, Paul Ryan, who is being eviscerated by media investigations of his contradictions and hypocrisy on so many issues!

But Mitt Romney is stuck with his choice, and will pay dearly for it, as many Republican leaders privately admit, but not for attribution!

It is very likely that the election has been lost for Mitt Romney, and won for Barack Obama, simply on the blunder that Mitt Romney, a cautious person politically, committed by going for a controversial running mate, rather than a much safer candidate such as former Governor Tim Pawlenty of Minnesota or Senator Rob Portman of Ohio. There would have been far less to criticize and attack on either of these political leaders, had they been chosen to be the Vice Presidential candidate!

One can be sure that, secretly, both Pawlenty and Portman are glad they are not part of a sinking ship, although both will profess support for Romney all the way to the bitter end!

And the likelihood is growing that the Republican Party will suffer by losses of seats in either or both houses of Congress, and possibly lose control of the House of Representatives, because of the “coattail” effect of having a heavy weight at the top of their ticket in November!

Republican Governors Rave About Improved Economy, But Mitt Romney Wants Them NOT To Claim So!

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An interesting development as we see Republican Governors raving about their improved economies, but causing grief for Republican Presidential nominee Mitt Romney in doing so!

Florida Governor Rick Scott, Michigan Governor Rick Snyder, Virginia Governor Bob McDonnell, Wisconsin Governor Scott Walker, and Ohio Governor John Kasich all have been boasting about their states’ economies vastly improving.

The fact that all of these states except Florida have an unemployment rate BELOW the national average is a PLUS for President Barack Obama, although, of course, these GOP Governors will not give him any credit!

But by them pointing out their improved economies, it hurts the cause of Mitt Romney, who is trying to make a campaign simply on the economy, ignoring everything else, such as foreign policy, the future of the Supreme Court, and many social issues.

Romney seems to think that he will be able to focus on what he wants only, but that will certainly not be the case as the Obama campaign zeroes in on other issues, and as the three Presidential debates and one Vice Presidential debate arrive on the scene in September and October!

Seven Factors Which Could Defeat Barack Obama In 2012

Ronald 1 Comment

Despite all of the evidence that Barack Obama has a great advantage for re-election in 2012, there certainly are factors which could lead to his defeat.

These include:

If the economy has another backslide of notable proportions, and gasoline prices continue to rise.

If a war breaks out in the Middle East or elsewhere, and the President is seen as handling the foreign crisis poorly.

If the Republican attempt in many states to limit the vote by discriminatory voter registration legislation succeeds in cutting voter registration and participation down dramatically.

If the enthusiasm of voters for Barack Obama is toned down, because of disillusionment that he has not been able to solve all of the problems he faced upon taking office.

If the effects of the growth of SuperPACS, encouraged by the Citizens United Case of the Supreme Court in 2010, are able to propagandize enough with less informed voters who react to negative commercials.

If a major political scandal erupts that undermines faith in the President’s leadership, with the opposition already starting to blame Obama for the Secret Service scandal.

And finally, the issue of race, as electing the first African American President is a path breaker and milestone, but re-electing would be an even more path breaking milestone, with the constant reference to race by right wing extremists, conservatives, and a majority of Republican officeholders, all designed to instill fear, panic, and conspiracy theories into the heads of white working class voters in Pennsylvania and the Midwest.

So there is no guarantee, and six months is an eternity in American politics!

Important To Remember: Elections Are About The FUTURE, Not The Past!

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In the midst of all the heated debate about who is best to be our President in the future, one point is often forgotten.

That is the reality that elections are about the FUTURE, not the past!

The past is always full of negative, as well as positive, developments, with, of course, the negative somehow easier to recall, since most human beings remember negative over positive.

So the issue of 2012 is not the high unemployment rate, which the opposition Republicans have no solutions for.

The issue is which party and which candidate is best equipped to make a better future, and in that, it is clear that the Republicans see the future as one without all of the social safety net programs of the New Deal and Great Society, which despite criticisms, have worked very well, made for a stronger middle class, alleviated poverty, and given the masses, who are not born to or inherit wealth, to have a belief in the “American Dream” and a faith and hope in a better future.

If such faith and hope is dashed by wiping out the virtues of the New Deal and Great Society, then what is to prevent violence, bloodshed, and revolution against the ruling economic class? By softening the worse aspects of unbridled capitalism and giving people dignity and consideration, whether young, old, poor, or disabled, we have a safety valve that allows all of us to coexist in society, with the elite rich still holding on to most of what they have!

The price of higher taxation actually protects the elite rich from troubles they would not wish to see occur!

So the better, more dignified future is definitely with Barack Obama, and this is not even considering his many accomplishments, which are often forgotten, but will be emphasized as the campaign of 2012 continues, so that voters do not go to vote with the thought that nothing good has been accomplished in the worst economic conditions since the Great Depression!

And do not forget that foreign and national security policy only adds to the credentials of Barack Obama, as compared to all his potential opponents, with the one exception of Jon Huntsman! But the Republican Party seems suicidal in nature, not smart enough to give Barack Obama a really competent opponent as his rival. So this is another of the many positives about Barack Obama that will be emphasized as the campaign develops!

Obama Still At 49 Percent In Public Opinion Polls Despite Pessimism About Economy: Why Is That So?

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President Barack Obama remains popular in the nation, despite the high unemployment rate and the gloomy prognosis about the economic future.

In the latest poll, he stands at 49 percent, a high rating considering the economic situation, and never really has been lower than 47 percent, while his predecessors in office often rated much lower, particularly when economic times were tough.

The question is why this is so!

Part of it is the simple fact that the American people like the President and believe he cares about them.

But also, when the American public looks at the choices offered by the Republican opposition in the Presidential race, they are not enthusiastic, as who is there to be excited about?

There are no thrilling, dynamic candidates who inspire people, and most of the candidates are seen as extreme in their views, and the American people as a whole do not like extremes.

So even with a poor economy, Obama is in good stead as the Presidential battle of the GOP develops for 2012!

The Republican Lies About The Obama Economic Record!

Ronald 1 Comment

The Republican Presidential debate in New Hampshire last night demonstrated the GOP ability to lie and deceive gullible voters!

You would think that Barack Obama walked into the Presidency in good economic times, and that George W. Bush left him a positive legacy!

Of course, George W. Bush left the worst economy to his successor of any President since Herbert Hoover left the Great Depression to Franklin D. Roosevelt!

The facts are as follows:

1. The economy has come out of the depths it was in in 2009, although the level of economic growth has slowed up in recent months.
2. Over 2 million private sector jobs have been added in the past 15 months, not enough certainly, but compared to the 750,000 jobs a month being lost at the end of the Bush Presidency and the early months of the Obama Presidency, it is certainly a good sign.
3. The stock market has improved, whereby half of the lost household wealth has been regained.
4. The auto industry has revived from its low point, when we almost lost the entire domestic auto market, which would have led to far worse conditions in the Midwest and South, where most of the auto factories are located.
5. Housing is the big area of lack of improvement, with home prices and home construction still declining. Of course, the nation’s leading banks are major culprits in this regard, refusing to give mortgage loans and trying to foreclose illegally on many properties!

The point is that there is no magic potion by government and the private sector to restore the economy quickly, and the Republicans have come up with no strategy or plan to create jobs or revive the economy, deciding that just attacking President Obama is enough.

And cutting taxes and spending is just the old Herbert Hoover concept, which only made the Great Depression worse!

Do we really want to go back to Herbert Hoover, as Tim Pawlenty proposes, and to believe that miraculously there will be five percent growth annually for the next decade?

It is time to put up or shut up, meaning that the GOP leadership in Congress must stop talking and attacking, and start producing results in cooperation with President Obama, instead of just working to undermine him and making the economy worse!