Two Clowns & a Booming Economy

First the two clowns: Burkman & Wohl. Yes, they’re the same ones who tried to concoct sexual assault allegations against Robert Mueller last year as if that would be helpful to then-Supreme-Court-nominee Kavanaugh. Their press conference back then was a pathetic slice of theatre of the absurd. You really couldn’t make that stuff up. They should have slunk back to their other jobs: Burkman as a rather strange GOP lobbyist and Wohl as a wannabe financial scam artist who managed to get himself banned from National Futures Association as a teenager for apparently diverting money from an investor’s account into his mother’s investment account.

This is truly laugh out loud material, except that Wohl is a noxious conspiracy theorist as well as a scam artist. And one suspects it's really and only about the cash he dreams of collecting someday. And now he and Burkman are apparently back at it again. They somehow convinced a young man to fly down to Baltimore and then drive to Arlington to provide them with source material for a fake news article on how Buttigieg sexually assaulted him a year or two ago.

Why fly him to Baltimore? To keep their source away from any potential attention.? I don't think so. Much more likely, they flew him from Michigan to Baltimore ... because it. Was. A. Cheaper. Flight.

The young man has recanted and revealed all in a Facebook post and Burkman and Wohl's ridiculous, conspiracy-mongering, fake-news dumpster diving can float away down the sewage drains from Arlington to some water treatment plant where hopefully the worst of the bacteria can be cleaned away before flushing it out to Chesapeake Bay and the sea.

They're as bad as Michael Avenatti, just less successful. The only question is whether they will have their day in court for financial or some other form of fraud, the way Avenatti has.

Now, economic data in the last few months has surprised yet again on the upside. Unemployment is at 50-year lows, and job creation continues at a very healthy pace. Worried about cybersecurity and North Korean/Russian/Chinese/Iranian/etc. hackers getting your personal information? So is the government. According to Nextgov they estimate that 300,000 jobs in cybersecurity are waiting to be filled or going to be filled over the next few years. Construction has powered back. People still drive trucks and cars and flip burgers even though those often lower-paying jobs will not be as plentiful going forward. In other words, just about every part of the economy is truly booming.

That's a problem. If you're a Democratic politician or if you're in the majority media that despise this President and his administration. So, you build a counter-narrative, of course, as David Harsanyi outlines in The Federalist. For example, an AP headline when the tax cuts were passed proclaimed, "House Passes First Rewrite of Nation's Tax Laws in Three Decades, Providing Steep Tax Cuts for Businesses, the Wealthy."

And now, with Nancy Pelosi feeding that story about how tax cuts don't help middle class working families, we have the latest in the War on the Economic Narrative.


"As the economy continues to grow past what many predicted was possible, some analysts and officials are wondering if the current state of the economy is too good to be true -- and that experts must be missing warning signs"

"Some expressed concerns about rising debt after the Trump administration undertook heavy borrowing to fund tax cuts and additional government spending to boost growth. President Trump is actively pushing for more, including a $2 trillion infrastructure package, additional military spending and extra stimulus from the Federal Reserve."

"But few, if any, deny the remarkable overall strength of the U.S. economy."

"'Spectacular is the only way to describe this jobs report,' said Sung Won Sohn, an economist at Loyola Marymount University and SS Economics. 'It is hard to believe that this 10-year old recovery keeps pumping out home-runs,'" Heather Long wrote in the Washington Post.

Yes, fair enough, Sung Won, it is a 10-year recovery, but one which has accelerated under Trump and the GOP's tax cuts. In other words, seeing the economy has long since healed itself (and yes credit to Geitner for righting a sinking ship in 2008-2009) please just get the hell out of the way.

But the headline for that article is "Is This the Too Good to Be True Economy?"

Again, fair enough. Economic forecasting is about the future and especially about imbalances going forward. Like debt and possible inflation. The latter case does not seem to be a problem, in part due to the enormous structural changes that have occurred over the last 30-odd years and which have made working more stressful precisely because the economy seems to respond much more quickly to any real or perceived imbalance. Debt? Yeah, that's a big problem.

But this is really about denying Trump good news or putting it down a few paragraphs in any story and keeping the headlines about the still-coming recession. So, we have a political battle played out on Twitter and elsewhere in the media.

One more time. Fair enough. Trump's allowed to fight back. The one area where GOP officials and politicians seem to be most uncomfortable about this pushback by Trump is with regards to Fed policy and whether rates should rise in response to possible inflation. As the old joke goes: the Fed has predicted 6 of the last 4 recessions, but even so presidents should respect Fed independence.

And this is where the GOP Senate has indeed pushed back against Trump's Twitter rants on Fed policy. They axed two loyal (and probably far more capable than they were given credit for) Trump supporters who were to be nominated to the Federal Reserve: Herman Cain and Stephen Moore. Conveniently, both had Bidenish blemishes on their records which were quickly hauled out in a lightning strike in order to sink them.

So, we'll see who finally gets nominated and actually confirmed to the Federal Reserve. But whoever they are, they will have a delicious problem on their hands...How to keep a decade-long recovery going in what is still the world's most innovative economy by a long shot.

Posted by Keeley at May 10, 2019 2:05 PM
Comments
Comment #443224
Keeley wrote: .But whoever they are, they will have a delicious problem on their hands…How to keep a decade-long recovery going in what is still the world’s most innovative economy by a long shot.
Yes, and also try not foul-up the recovery with unnecessary interest-rate hikes (i.e. when there’s no evidence of enough inflation (between 2%-and-3%) to justify a series of interest-rate hikes, and are lower than they were in year 2012).
Fed interest-rate hikes also raises the borrowing costs for the U.S. government and fuel an increase in the national debt.
Inflation rates (of 2%-to-3%) are not anything to be so alarmed to justify a serious of interest-rate hikes.
Inflation and interest-rates is not where the nation’s focus should be, which should be on reducing federal spending, reducing the deficits, and (maybe someday before it is too late) reducing the $22.2 Trillion national debt.
Also, raising interest-rates is not likely to slow down borrowing by the federal government. There may be NO way to do that … at least, until the massive debt problem solves itself (the hard way).
Posted by: d.a.n at May 10, 2019 2:42 PM
Comment #443231

“two clowns:” (seriously, only 2, there are 700 more just like them)

“as a rather strange GOP lobbyist” (again, not the only one)

” financial scam artist ” (oddly, this does not refer to the POS)

” ridiculous, conspiracy-mongering, fake-news dumpster diving can float away down the sewage drains “
(again, this is apparently not about the POS)

” hopefully the worst of the bacteria can be cleaned away before flushing”
(January 22, 2021 at the latest)

” the way Avenatti has”
(nothing happening there yet except Ghouliani sicking the feds on a private citizen)

” Unemployment is at 50-year lows”
(baby boomers are retiring)

“North Korean/Russian/Chinese/Iranian/etc. hackers getting your personal information? So is the government.”
Our government is being equated with the regimes in those countries?
Exactly whose side are you on, the Canadians?

” (and yes credit to Geitner for righting a sinking ship in 2008-2009)”
2008, 2008? you’re mixed up on your dates there.

” Herman Cain and Stephen Moore.”
This is a joke, right? In an article starting with the words “two clowns”. Perhaps the entire post is supposed to be ironic.

We only have one economic woe. It sits in the white house watching tv and responding whenever his name is mentioned. Maria Bartiromo couldn’t get him to hang up the other day. She didn’t bother saying, as others did before, “I’m sure you’re very busy with you presidential work” because everyone on earth already knows his schedule. He is a totally owned subsidiary of Putain Inc. Putain wants to eliminate the “petrodollar” which is what is going on with these twin “crises” in Venezuela and Iran. Also, Russia, China, India, Brazil and others want to change the US dollar’s status as a reserve currency. The clown who hangs around the white house is only calculating his own economic interest.

Posted by: ohrealy at May 10, 2019 3:50 PM
Comment #443272
ohrealy wrote: He Trump] is a totally owned subsidiary of Putain Inc.
Do you have any proof of that?
ohrealy wrote: Putain wants to eliminate the “petrodollar” …
ohrealy previously wrote: Most significantly, the rest of the world is now looking for an alternative currency to the dollar. This is only really happening because of lack of confidence in the current US government.
Nonsense. Nobody and no country declares which is the major global reserve currency. The level of popularity of the individual reserve currencies is result of decisions by people in different individual countries, and it is a result of the U.S. Dollar being the most stable.

However, the primary reserve currencies could change, and the one thing that could possibly cause that is IF and WHEN the U.S. federal national debt (currently: $22.3 Trillion) becomes untenable. The U.S. GDP in 2018 was $20.50 trillion, which increased by 5.2%, but debt is larger than GDP.

When prejudice clouds judgement (especially a long history of it), it often results in many clownish conclusions that lack credibility.

Posted by: d.a.n at May 11, 2019 10:43 AM
Comment #443273

U.S. GDP in 2018 …

Posted by: d.a.n at May 11, 2019 10:44 AM
Comment #443274
Do you have any proof of that?

An hour and a half conversation with Putin to brief him on the doctored Mueller report, yet Mueller and Trump et al won’t testify before congress. What else you need D.? You’ve convicted Clinton and Obama on less.

Posted by: j2t2 at May 11, 2019 12:48 PM
Comment #443281

Nonsense. You don’t know what was discussed in a conversation between Trump and Putin.
There is much more solid evidence of violations and despicable actions by Clinton and Obama, as shown HERE and HERE.

Posted by: d.a.n at May 11, 2019 2:47 PM
Comment #443283

By the way, some members of Congress (including Jerry Nadler) were permitted to see the full Mueller report, but they all refused to do so.
Why? Perhaps, because they know there’s nothing more to see, because the whole thing was a hoax ?
Perhaps some Democrats should be investigated for starting the hoax?
There may be investigations into how this entire hoax got started, and that may be making some Democrats nervous (i.e. high-ranking officials and other major players in the hoax — which Obama also oversaw (part of the deep-state scandal): James Comey, Loretta Lynch, Andrew McCabe, Andrew Weissmann, Sally Yates, Peter Strzok, Lisa Page, Bruce Ohr, James Clapper, John Brennan, Hillary Clinton, etc.);
So, the entire hoax might end up back-firing on them?

Posted by: d.a.n at May 11, 2019 2:55 PM
Comment #443305

Cricklet chirping … cricklet chirping … cricklet chirping … cricklet chirping … cricklet chirping … cricklet chirping …

Posted by: d.a.n at May 11, 2019 10:29 PM
Comment #443330

It is interesting to listen to politicians and media types point out the cost to Americans of tariffs we place on goods imported from China. They are quick to say that these tariff’s are merely a tax that the consumer pays.

Much of that is true. What is always missing from the analysis on tariffs is what the cost has been to American consumers for the unfair trade practices by China for the past four decades.

Are we to believe that China stealing industrial and military secrets has no cost? Are we to believe that China stealing intellectual property has no cost? Are we to believe that Chinese rules for American companies doing business there has no cost?

Where is the cost analysis of these Chinese practices over decades? It is well into the trillions that China has stolen from American workers and taxpayers.

One does not overcome a bully by giving them the club to beat you with. American presidents have been submitted to Chinese blackmail for too long.

Posted by: Royal Flush at May 12, 2019 3:11 PM
Comment #443350

Yws. China is a cheater.
China is also not our friend.
Many of their products are also junk and dangerous (even deadly).

Previous politicians have allowed unfair and illegal trade practices for many decades.
Trump is the only person who has tried to do anything about it.
We have more leverage.
China cannot wait 18 months until the next election.

Posted by: d.a.n. at May 13, 2019 2:47 AM
Comment #443406

This is an interesting piece on tariffs that many Americans are not aware of, and should be.

Patrick Buchanan: Tariffs — The Taxes That Made America Great

“A tariff is a tax, but its purpose is not just to raise revenue but to make a nation economically independent of others, and to bring its citizens to rely upon each other rather than foreign entities.

Once a nation is hooked on the cheap goods that are the narcotic free trade provides, it is rarely able to break free.

What great nation did free traders ever build?”

https://www.cnsnews.com/commentary/patrick-j-buchanan/tariffs-taxes-made-america-great

Posted by: Royal Flush at May 14, 2019 4:21 PM
Comment #443418

Right. Free Trade can’t work with nations that cheat, abuse laborers, steal technology, export dangerous products, disallow or place high tariffs on most (or all) imports from other nations.

Companies that moved their operations to China are idiots.
China is stealing their technology, and ignoring patents.
Those companies and nations are teaching their competition to kick their butts.
How smart is that?

Also, much of the stuff from China is crap and dangerous. Many thousands of recalls, and total number of recalled items made in China are in the many tens of millions.
A Canadian study published in September 2007 showed that while 95% of product recalls from 1988 to 2007 were from China.

Posted by: d.a.n at May 14, 2019 10:33 PM
Comment #443537

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Comment #443592

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Comment #443593

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