Tag: The Economy

Trump will score another win if Big Media fetishizes his soap opera while the working class suffers | Salon.com

 

Just as in 2016, the actual economic conditions of the American people will be the defining issue for 2020. Ignoring it, or giving Trump a pass on the economy, will permit him to make the campaign about everything and anything else.

The corporate news media is doing it all over again — still equating aggregate national unemployment data and a robust stock market with a strong economy. And they have developed the face saving construct that Trump won only because the Russians stole the election, not because the media missed the slow motion collapse of capitalism that Trump exploited by convincing just enough people he had a magical time machine that could transport us all back to those halcyon days when the middle class was expanding.

For these get-Trump newshounds it’s always Mueller-time.

Their master script is that POTUS is the Don of a Russian/American organized crime family that stole the American election.

That could all be true, yet if Mueller comes up short of actually taking Trump out, the media’s fixation on the intrigue will only inoculate Trump.

Can’t you hear it now . . . ‘I told you-NO COLLUSION.’

Just as in 2016, the actual economic conditions of the American people will be the defining issue for 2020. Ignoring it, or giving Trump a pass on the economy, will permit him to make the campaign about everything and anything else.

via Trump will score another win if Big Media fetishizes his soap opera while the working class suffers | Salon.com

Donald Trump regrets choosing Federal Reserve chief Jerome “Jay” Powell

Greg Sheridan of Murdoch’s Australian keeps insisting ” don’t listen to what Trump says pay attention to what he does. He’s not that bad”. Good one Sheridan even  broken clock is right twice a day.( ODT)

In a wide-ranging and sometimes discordant 20-minute interview with The Washington Post, Trump complained at length about Federal Reserve Chairman Jerome “Jay” Powell, whom he nominated earlier this year. He argued that rising interest rates and other Fed policies were damaging the economy – as evidenced by GM’s announcement this week that it was laying off 15 per cent of its workforce – though he insisted that he is not worried about a recession.

“I’m doing deals, and I’m not being accommodated by the Fed,” Trump said. “They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

He added: “So far, I’m not even a little bit happy with my selection of Jay. Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing.”

via Donald Trump regrets choosing Federal Reserve chief Jerome “Jay” Powell

A rising tide is great if you own a boat – » The Australian Independent Media Network

The Coalition works on the theory that “a rising tide lifts all boats”, which is all very well if you happen to own a boat. The majority of the population is either bailing hard to stay afloat, treading water or drowning.

In the last five years, the world’s economies have made a strong recovery. Investment has returned, GDP is growing, profits are up and jobs are being created.

The problem is that all this extra wealth is going to the people who already own boats.

In 2017, the top ten percent owned 50.3 per cent of all wealth in Australia. The top one per cent’s share was 22.9 per cent while the bottom 60 per cent’s share was 15.3 per cent.

A rising tide is great if you own a boat – » The Australian Independent Media Network

Can American Democracy survive six Standing Wars? | Informed Comment

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Whether the rationale is the need to wage a war on terror involving 76 countries or renewed preparations for a struggle against peer competitors Russia and China (as Defense Secretary James Mattis suggested recently while introducing America’s new National Defense Strategy), the U.S. military is engaged globally. A network of 800 military bases spread across 172 countries helps enable its wars and interventions. By the count of the Pentagon, at the end of the last fiscal year about 291,000 personnel (including reserves and Department of Defense civilians) were deployed in 183 countries worldwide, which is the functional definition of a military uncontained. Lady Liberty may temporarily close when the U.S. government grinds to a halt, but the country’s foreign military commitments, especially its wars, just keep humming along.

via Can American Democracy survive six Standing Wars? | Informed Comment