Archive for the ‘Economy’ Category

Based on Mitch McConnell’s speech on the Senate floor today, progress appears to be getting made on the supplemental spending bill:

The Senate’s immediate role is clear: We need to support the federal, state, and local public health officials and healthcare professionals who are working overtime to blunt, delay, and mitigate the spread of the virus. So I am grateful that our colleagues Chairman Shelby and Ranking Member Leahy, along with their Appropriations counterparts in the House, worked through the weekend on a bipartisan, bicameral agreement to provide supplemental appropriations for the coordinated response.

It goes without saying that a challenge like this leaves no time for moving goalposts or performative outrage. The American people deserve for their Congress to meet this subject head-on with a bipartisan and collaborative approach. I’m confident that is exactly what can and will happen.

Here’s the video of that speech:

There’s still plenty of things to worry about with regards to this virus. The things that the President is responsible for are getting done in a timely, proficient fashion. The medical professionals are, as near as I can tell, working together. The markets, which aren’t always driven by logic, had a massive sell-off last week which was attributed to the virus. Late Friday afternoon, with less than an hour left in the trading day, Apple CEO Tim Cook announced that people were going back to work in China.

From the time of that announcement to the end of trading that day, the DJIA rallied from being down 912 points to finishing down 357 points. That’s why I wasn’t totally surprised that the Dow finished up today. I must admit, though, that I was startled that it finished ahead by 1294 points today. The Dow Futures are ahead by 150 points already.

What’s clear is that Bernie’s agenda should be rejected entirely. Despite his protestations, Bernie isn’t a Democrat Socialist. He’s a Marxist through and through. He isn’t just proposing socialist ideas, though that’s part of Bernie’s schtick. Bernie’s plan is to radically transform the USA into the former USSR. How do I know? Because he’s given us tons of hints as to who he is.

He honeymooned in the former Soviet Union. He thinks that Fidel Castro was a philanthropist because he started a literacy program. (I’m being sarcastic about that.) Bernie’s Democrats want to eliminate private wealth, then give it to the government. Bernie’s Democrats, starting with AOC + 3, want to determine how much money people are supposed to have. It’s amazing that Bernie’s ok with some people getting rich (think of himself) but thinking that others being wealthy is the nastiest type of greed imaginable.

Bernie wants to implement the Green New Deal. The GND won’t save the planet but it’s exactly what Putin wants. That’s because it tightens Russia’s grip on Europe by cutting off reliable supplies of natural gas to former Eastern Bloc nations and into Europe. Why doesn’t Bernie understand that Putin loves a timid US?

Bernie’s policies will make the U.S. poorer. Any policy based on the principle that the government does things better than the private sector is foolish. Trusting the government to provide consistent competence is like betting on the Chicago Cubs to win the World Series once a decade. Let’s get serious. One thing that is serious is the money he’s raising:

“The senator’s multi-generational, multiracial working class coalition keeps fueling his campaign for transformational change a few bucks at a time,” Sanders’ campaign manager Faiz Shakir said in a statement. He said that, of the more than 2 million donations received this month, more than 1.4 million were from voters in Super Tuesday states.

Let’s return to Bernie’s agenda. Getting rid of fossil fuels strengthens Putin and cripples the US economy. Why should we decide to impose such an unnecessary penalty on families? That’s downright foolish.

While Joe Biden will win South Carolina’s First-in-the-South Primary, things look bleak for him after that. Things look worse for Mini-Mike and Elizabeth Warren. That’s because Berniementum is gaining strength. Bernie leads by a wide margin in California, leads comfortably in Texas and leads narrowly in Elizabeth Warren’s home state of Massachusetts.

The key word in that paragraph is leads. If Bernie gets three-fourths of California’s 415 delegates, he’ll become the odds-on-favorite to win the nomination. If he wins with a solid margin in Texas, that strengthens his position. Defeating Elizabeth Warren and Amy Klobuchar in their home states, which seems likely at this point, would virtually eliminate their path to the nomination. Think of it like Hillary after the networks called Wisconsin for President Trump. At that point, pundits started talking about Hillary’s path to victory after spending most of the night wondering what Trump’s path to victory would look like. Check out this polling from RCP’s page:

After Bernie wraps up the nomination, expect President Trump to hit him with a barrage of ads from which Bernie will never recover from. Make no mistake about this. Bernie is a dead man walking. Check this out:

The Nevada Caucus has come and gone, but the debate leading to it had some rather worrisome tidbits if you’re a worker in the Rust Belt. The Democrats just hate you. That’s all we can gather from their agenda, especially Sen. Bernie Sanders.

If he isn’t bellowing about health care, it’s climate change. We’re less than a decade away from all of us dying from global warming, according to the Vermont senator. So, that means we have to act now. Not tomorrow, not after breakfast—now! We’re all going to die…unless we do exactly what the Democrats want on this issue, which is typical. And in doing so, Sanders, like his former rival Hillary Clinton, may have had his own coal miner moment. You might remember from 2016 that the former first lady and two-time presidential loser promised to put a lot of coal miners out of business if elected president.

Bernie must win back Hillary’s ‘blue firewall’ states of Pennsylvania, Wisconsin and Michigan while holding onto the states that Hillary won. Winning back Pennsylvania and Michigan while losing Wisconsin puts Trump right at 270 electoral votes. Killing fracking and mining kills those states’ economies, which means Bernie loses those states and his shot at the White House.

There’s no question whether President Trump will hit Bernie on this issue. In 2016, he told those voters that he considered them the forgotten men but that he’d promise to never forget them while he was president. President Trump has kept that promise.

People wonder what happens if the Coronavirus will hurt President Trump. It might if they don’t handle things properly. If the NIH and CDC respond quickly and the various agencies handle things properly, then people will realize that this was just something that was beyond President Trump’s ability to control. If President Trump and VP Pence make the right decisions administratively, they’ll benefit from those right decisions.

It isn’t like people will suddenly say ‘I’m abandoning President Trump’s policies. He’s just too prosperous.’

Based on his actions, it’s more than fair to question Collin Peterson’s loyalty to Nancy Pelosi. In this post, I wrote that Pelosi had disrespected Peterson, omitting him from the USMCA press conference. In December, Peterson said that he hadn’t decided whether he’d run or retire but that he’d make up his mind “in January or February.” Today is Feb. 25 so there isn’t much time to make a decision. This tweet might tell us what he’s going to do:


“I’m not sure I want to win.” Let that sink in a bit. Think about whether Collin Peterson would want to be part of the minority party again. Think about whether Collin Peterson would want to have to deal with AOC + 3. (I think that’s his worst nightmare but I might be wrong.)

Personally, I question whether Peterson could win. He isn’t the perfect match for the District that he used to be. Peterson’s voted against President Trump 85% of the time in a district that Trump won by 31 points. There’s a strong set of candidates running on the GOP side. President Trump is pouring tons of money into Minnesota, too, with the goal of flipping the state from blue to red and to bring with him as many House seats as possible. MN-7 is certainly at the top of his ‘flip list’.

Nobody would blame Peterson if he retired. The recent Minnesota Poll shows Trump trailing in the metro (Hennepin and Ramsey counties) but winning in the suburbs quite comfortably:

President Trump’s approval rating in the suburbs looks quite strong. If that’s the case, the GOP congressional candidates in MN-2 and MN-3 should enthusiastically support President Trump’s legislative agenda. If Republicans flip MN-2, MN-3 and MN-7, they’ll retake their majority in the US House. Does Collin Peterson want to return to the minority party again? That’s the $64,000 question.

Last week, Bernie didn’t have an answer for how he’d pay for his socialist programs. According to this article, he’s fixed that. First, let’s list his highest priority programs as being “Medicare for All, the Green New Deal … and Housing for All.”

According to Sen. Sanders’ factsheet, “Sanders said he planned to raise $16.3 trillion for the Green New Deal to combat climate change. The money would come from making the fossil fuel industry pay for ‘their pollution,’ garnering profit from the wholesale of energy, decreasing defense spending, getting new income tax revenue and saving federal and state safety net spending from the jobs created in the plan and enforcing higher taxes on large corporations.”

That’s fantastic. Bernie wants to give us tons of ‘free stuff’ by taxing us into oblivion. What could possibly be wrong with that? Let’s see. “Making the fossil fuel industry pay for ‘their pollution'” means giving Vladimir Putin a geopolitical advantage by killing our economy.

Next, what “jobs created in the plan”? The jobs already getting created by President Trump’s policies? Or are these jobs as imaginary as the jobs created by President Obama’s stimulus bill, which I wrote about here?

Apparently, Bernie thinks that eliminating profits won’t cut into people’s willingness to work hard. Why would I work hard if I didn’t get to keep the profit? A world without incentives is a world without productivity.

I can’t wait to see President Trump slice-and-dice Bernie’s Alice-in-Wonderland economic policies. These won’t work, at least not in the real world. LFR readers, ask your neighbors, friends and co-workers if they want our nation to be less safe. Ask these people if they’d like to pay exorbitantly more for gas in their car or for heating their homes. Then ask them if they’d prefer keeping the economy they’ve got.

I’m betting that they’ll pick the latter, not the former.

The gulf between the Democrats and the Trump administration is wide and getting wider. In the final days of the 2008 campaign, Barack Obama said that “We are 5 days away from fundamentally transforming the United States of America.” His agenda was to become the anti-Reagan. He wanted to shift the United States from being a capitalist nation to being a socialist nation that forced people to do things they didn’t want to do.

Obama’s campaign slogan was “Hope & Change.” His agenda wasn’t popular, though he was personally popular. President Trump wasn’t that popular initially, though people are warming up to him. President Trump’s campaign slogan was “Make America Great Again.” Along the campaign trail, his following grew while he developed other complementary slogans.

At his rally yesterday, President Trump told the crowd that he didn’t think that much of the saying “Drain the Swamp.” His opinion changed at the next rally, when people spontaneously started chanting “Drain the Swamp.” President Trump’s followers especially love him because they believe that he’ll always have their back. President Trump hasn’t finished building the wall but his supporters have seen that he’s put in a good faith effort to build it. President Trump hasn’t repealed and replaced Obamacare but that’s because John McCain sabotaged that effort.

The Democrats aren’t good at listening. The people didn’t want to fundamentally transform the United States of America:

They liked Reagan’s shining city on a hill:

That’s been updated by making America great again:

Newt Gingrich is right in saying this:

All the Democratic candidates represent an elite left-wing cultural view that believes America is a bad country of ignorant “deplorables.” They all believe their mission is to use government to profoundly change America – even if it is against the wishes of many millions of Americans. At the same time, this radical Democratic Party proved Wednesday night that it has no coherent policy for creating jobs, solving problems or defending America.

Like Obama, this year’s Democrats have launched a nationwide apology tour. Here’s Bloomberg saying he wouldn’t run:

Here’s what he said :

It’s just not gonna happen on a national level for someone like me starting where I am (PAUSE) unless I was willing to change all my views and go on what CNN called an apology tour. Joe Biden went out and apologized for being male, over 50, white.

After saying that, he changed his core beliefs, then started apologizing. While mayor, though, he didn’t regret stop, question and frisk. He appealed the judge’s ruling banning that technique. Bloomberg is the personification of today’s Democratic Party. It’s apparent that he isn’t tied to any principles. Bernie is the personification of the other part of the Democratic Party. He thinks that the USA needs to be fundamentally transformed at a time when we’re prospering, wages are rising and consumer confidence is skyrocketing.

It doesn’t take a rocket scientist to figure out that the Democrats’ presidential candidates are competing with each other in their race to Battleground State irrelevancy. Whether it’s Bernie Sanders, Amy Klobuchar, Joe Biden or Elizabeth Warren wanting to kill fossil fuels, or Mike Bloomberg insisting that farming is simple, city slicker Democrats apparently think that they can win the White House without winning midwestern battleground states.

While this won’t hurt Democrats with primary voters, it’ll sting the Democrats’ nominee in the general election, especially if Mike Bloomberg is the nominee. Picture the reaction Bloomberg would get across the Midwest when this video goes viral:


This is Bloomberg’s ‘Basket of Deplorables’ moment. That video can be deployed in multiple settings. First, it can be used to show he’s simply hostile to farmers. Next, it can be used to show that he really isn’t interested in uniting the country. Third, it can be used to ask how many other things he’ll have to apologize for. He’s already apologized for Stop-Question-and-Frisk.

The truth is that Mr. Bloomberg has said some rather heartless things. When he talked about throwing minorities up against the wall, he was either in his late 60s or early 70s. Shouldn’t he have known the ramifications of his statements? It isn’t like he was a reckless teenager when he said that.

Sen. Warren’s policies aren’t that appealing and she lies about virtually everything. At a time when people crave authenticity, she’s a phony. This weekend, Amy Klobuchar started flip-flopping while pandering for vote. How will that work? Joe Biden has been disparaging people while calling them disgusting names. He’s told them to vote for other candidates, too. Based on Iowa and New Hampshire, they’ve taken his instructions to heart.

Then there’s Bernie. He wants to eliminate private health care at a time when Democrats can’t even do simple math at their caucuses. Democrats still haven’t finished recanvassing the Iowa Caucuses results, which was 2 weeks ago. They want us to think that they’re proficient at figuring out complexities in the health care laws? I don’t think so.

Bernie will have difficulty defending President Trump’s attacks. Bernie wants to keep his money but he wants other millionaires to pay their fair share. Bernie’s policies will cripple this booming economy. How popular will that be with voters? Hint: The answer to that question rhymes with ‘it won’t.’

Doug Schoen’s op-ed is a valiant attempt to prevent a major political trainwreck. That isn’t likely since Schoen admits that studying the New Hampshire Primary “results reveals a Democratic Party at war with itself.” It isn’t a stretch to say that uniting the Democratic Party is difficult. Later in his op-ed, Schoen talks about Bernie as a socialist, which he is, and the moderates running. It’s insulting to hear Democrats talking about moderates as Democrat presidential candidates.

Schoen’s boss, Michael Bloomberg, is running as a moderate. That’s BS on steroids. With all the attention paid to Bloomberg’s racist statements this week, it isn’t surprising that few people know that Bloomberg wants to blow up the economy.

This article, published by Bloomberg’s newspaper, highlights the fact that a Bloomberg administration would feature a $5,000,000,000,000 tax hike. According to the article, “Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.”

Then there’s this:

Bloomberg’s plan serves to show how he’d pay for an array of proposed new spending initiatives, which so far top $3 trillion. But his campaign cautioned that the tax plan could still change as the former New York mayor rolls out even more policy plans in the near future.

TRANSLATION: Bloomberg’s tax hike might go higher if he tries buying more votes.

Later, Schoen wrote this:

Moreover, Bloomberg is working to do exactly what the Democratic Party needs to do, working to unite African American voters, Hispanic voters, White voters, progressives, moderates and voters with varying degrees of education, so that the Democratic movement against Trump spans wider than the party’s base.

What Schoen doesn’t admit is that President Trump has cut into huge parts of the Democrats’ base. By signing the First Step Act and by highlighting school choice, opportunity scholarships and Opportunity Zones, President Trump is cutting into the Democrats’ base of minority voters. Democrats aren’t proactively reaching out to minority communities. Instead, Democrats are taking these communities for granted.

The dirty little secret is that President Trump is uniting minority communities through prosperity opportunities. Mike Bloomberg’s $5,000,000,000,000 tax hike would kill those prosperity opportunities. Further, this segment, on CNN of all places, isn’t uniting Democrats:

Bloomberg’s long-held position on stop-and-frisk won’t unite Democrats. His #MeToo problems won’t unite Democrats, either. Bloomberg’s $5,000,000,000,000 tax hike will unite independents and Republicans. At this point, the economy is uniting people around President Trump. This is hilarious:

To counteract Trump’s relative strengths, it is critical that the Democratic Party coalesces around a cohesive, inclusive, pro-growth message centered on jobs, the economy, health care and advancing equality of opportunity, while also highlighting President Trump’s own policy failures in these areas.

What a joke. Most of the Democrats’ presidential candidates are socialists or a step removed from being socialists. There’s no such thing as pro-growth socialist economic policies.

I almost feel sorry for Schoen. That’s because he’s caught betwixt and between defending Bloomberg’s anti-capitalist tax policies, Bloomberg’s government-knows-best nanny state policies and Bloomberg’s gun control policies.

If anything is true about St. Amy of Hennepin County, aka Amy Klobuchar, it’s that she’s economically illiterate. St. Amy’s issues page is filled with liberal gobbledygook. St. Amy’s plan for the economy is titled “Shared prosperity and economic justice.”

On the page, is says “Too many people aren’t sharing in our country’s economic prosperity. Shared prosperity is about ensuring all families have a fair shot in today’s economy, and Amy believes that this means investing in quality child care, overhauling our country’s housing policy, raising the minimum wage, providing paid family leave, supporting small business owners and entrepreneurs, as well as helping Americans save for retirement. She will also cut child poverty in half in a decade and end it in a generation with policies based on a report from the National Academies of Sciences. Read more about Amy’s child care and paid family leave policy here.”

Following the “helping Americans save for retirement link leads you to an article with a title of “Democrats want to force businesses to contribute to retirement plans and they’ll pay for it by raising taxes on the wealthy.” Apparently, St. Amy is a Obama Democrat in terms of economic philosophy. Taxing companies to pay for counterproductive policies isn’t foolish. It’s stupid. It’s the basis of socialism.

First, is there a capitalist alive that thinks that taking capital away from a company is wise? When the government steals money from productive companies (it’s the company’s money, after all), then gives that money to someone who isn’t productive, how does that strengthen the economy and provide jobs? Hint: It doesn’t.

Jobs aren’t created unless capital is created. Further, companies and labor are mobile. Sen. Klobuchar apparently didn’t learn that. When the Obama corporate tax hikes went into effect, companies left for Mexico, China, South Korea, Vietnam and other nations. When President Trump cut the corporate and individual tax rates, companies returned, then started investing in labor, plants and equipment. Workers were hired. New equipment was purchased and installed. Training for employees was required, which made employees more valuable. Employees got bonuses, better benefits (including retirement accounts) and higher wages without raising taxes.

We’ve seen how high taxes cripples the economy. It’s called Obamanomics. We’ve seen economic growth, wages, job creation accelerate since the implementation of President Trump’s policies. Millions of people say that they’re in better financial shape today than they were 3 years ago. President Trump’s approval rating on the economy is 63%. People are confident that they’ll be better off a year from now than they are today.

Klobuchar wants to tear down the most productive economy of my lifetime and replace it with the most foolish economic policies of the past 50 years. Imagine what would happen if the Fed didn’t keep interest rates virtually at 0% during the Obama administration. Imagine what the GDP would be right now if Jerome Powell had kept interest rates low instead of raising them.

On the day voting happens in Vermont, we still don’t have the final vote totals from Iowa. That’s because the Sanders campaign and Buttigieg campaign have each asked for partial recanvasses of the results. At this rate, we might have Iowa’s totals verified before the Convention in Milwaukee. I’m not betting the ranch on that but it might happen.

With that crisis still unresolved, Democrats are facing a somewhat similar crisis in Nevada:

Frustrated. Concerned. Nervous. Those are some of the words aides are using to describe the mood within some of the top Democratic presidential campaigns in Nevada with only five days until early voting is set to begin for the state’s first in the West presidential caucus and still no details on how exactly it’s supposed to work.
Campaigns here in the Silver State have been told that the Nevada State Democratic Party won’t be using the same app and vendor that were in part responsible for bungling the results of Iowa’s caucus last week, that the party won’t be using any app at all, and that what the party does plan to use is best described as a “tool” or “calculator.” Beyond that, aides aren’t really sure what’s in store for the state’s Feb. 22 Democratic caucus.

Have Democrats run anything beyond a lemonade stand? Here in Minnesota, examples of DFL competence in running things are rarities. MNLARS will (hopefully) be a distant memory soon after being a nightmare for 2+ years. MNsure was a disaster for a year. The Minnesota Human Services fiascoes happened over a period of years before being discovered. People remember the disaster that Healthcare.gov was.

“It’s a little bit of a damper for our volunteers who are more hesitant to step up and say, ‘Yes, I will confirm I will be precinct leadership on Feb. 22,’ when they don’t feel entirely certain about what’s going to happen,” one aide said. “Never mind the campaign, but with four days until early voting begins, the people who are going to participate feel like they need to have a credible explanation of how the early voting and caucus process are going to work.”

Here we go again? Only a Democrat could turn simple arithmetic into this convoluted mess. This isn’t how this should work. The only top-tier Democrats who’ve run anything are Pete Buttigieg and Mike Bloomberg. Everyone else is a senator. They talk for a living.

Both mayors are far outside the mainstream on the issues, which is why few people outside the Democratic Party take either of them seriously. Meanwhile, the nation keeps humming along under President Trump’s leadership. He’s actually run something and holds mainstream views. The economy is strong. We’re safer than we were under President Obama. Emergencies are handled efficiently.

That’s quite the contrast from the Party that can’t even do basic math, aka the Democrats. Bernie hasn’t run anything. Ditto with Biden, Klobuchar, Warren or what’s his name that still hasn’t dropped out (Michael Bennet).

Things are running well. People are making money. Income inequality is shrinking. People’s 401(k)s are getting healthier. If it isn’t broke, don’t tinker with it. That’s what Democrats did with the Iowa Caucuses. How’d that turn out? This is how that worked:

The KISS method (Keep It Simple Stupid) still works best. I’m a huge fan of trailing edge technology. I love things that work and that have worked for years. There’s nothing wrong with the Iowa Caucuses that a little uncomplicating can’t fix.

On a national scale, the lesson to be learned is that Democrats don’t run things. It isn’t part of their DNA. Bill Clinton is the lone exception. Berniecrats think that he’s too conservative. I guess they didn’t like the prosperity.