Kavanaugh and Trump

October/06/2018 9:49AM
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No gloating here. I’m not writing about the confirmation of Brett Kavanaugh to the Supreme Court. This is about bait and switch, which we marketing students learned in Marketing 101. It’s illegal, but everyone does it.  I get you to come in for cheap motor oil and sell you a canoe. I got you to come for Kavanaugh and I’m selling the economy.

Somehow, journalists in this country learned it. That presumes there are journalists in this country. I prefer to call them pimps, although that might be a bit of an insult to upstanding pimps all across the globe. Pimps promote the product they advertise. Journalist pimps purport to sell news but really sell a brand of politics. If arrested, they would say it’s progressive liberalism, but in essence, it’s Venezuela. See, journalists are like lemmings. They will go off the cliff thinking it’s a good thing, not Venezuela. They were educated to believe that by professors who are also lemmings. Professors sell Venezuela as education. They live and work in Disneyland. A place with rainbows and unicorns. Their Disneyland is run by administrators who have no accountability or limits on spending. Hence, $1.3 trillion in student loan debt, more than the mortgage bubble when it burst.

Venezuela is coming to America. It’s being sold here state by state. California is the classic example, but it will hit Illinois first. Journalists point out successes where Venezuela works, like Sweden. But, never mention where it didn’t work, like Detroit and Puerto Rico. Illinois is Venezuela, but the dumpster diving hasn’t happened yet because they can still borrow money from idiots like you. Probably wrapped in a security sold by your financial advisor like a mortgage bond was-remember those?  But, someone leaves the state every five minutes. Someone who was working, owned a house, and was paying taxes. See, the pension debt to retired public workers can’t possibly be met by taxes but taxes keep going up to try to pay the retirees. The shortfall is debt and the interest on the debt can’t be paid without more debt. Get the picture?

What does all this have to do with Kavanaugh. Your attention has been directed by the Democrat Party and the media, their tool,  to Kavanaugh for the past month. Sure, the confirmation of a Supreme Court Justice is important, but 100%, 24/7 for a month? Is nothing else newsworthy happening? In Chicago, a cop was convicted of 2nd degree murder for shooting a young man 15 times. The media had aspirations of getting this inflamed to the point where the entire city was inflamed, but the jury disappointed them. But, they gave it their best, again 24/7 for days. So, as the mid- term elections approach you got Kavanaugh and, in Chicago ,bad cops and ,of course, the obligatory, bad Trump full tilt boogie.

Are there more important pieces of news you might want to see, read, and hear? See, for the eight years of Obama, this was news the media choose not to sell. obamas-results    Now, for the two years of Trump, you don’t get this news for a different reason. It’s called success.

This from CNBC, of all places. But, not TV news, but an obscure print piece.

“President Donald Trump is more than 19 months into an administration engulfed in so much controversy that it may overshadow a tremendous achievement, namely an economic boom uniquely his.

During his time in office, the economy has achieved feats most experts thought impossible. GDP is growing at a 3 percent-plus rate. The unemployment rate is near a 50-year low. Meanwhile, the stock market has jumped 27 percent amid a surge in corporate profits.

Friday brought another round of good news: Nonfarm payrolls rose by a better-than-expected 201,000 and wages, the last missing piece of the economic recovery, increased by 2.9 percent year over year to the highest level since April 2009. That made it the best gain since the recession ended in June 2009.”

On deregulation, Trump ordered that rules be pared back or eliminated across the board. During his time in office, Congress has cut back on the Dodd-Frank banking reforms, particularly in areas affecting regional and community institutions, rolled back a multitude of environmental protections that he said were killing jobs and took a hatchet to dozens of other rules. (The left-leaning Brookings Institution think tank has a rolling deregulation tracker that can be viewed here.)

During the first year of his administration, “significant regulatory activity” had declined 74 percent from where it was in the same period of the Obama administration, according to data collected by Bridget Dooling, research professor at GW’s Regulatory Studies Center.

The Dodd-Frank rollbacks have been particularly helpful to community banks, whose share prices collectively are up more than 25 percent over the past year. Small-cap stocks in general have strongly outperformed the broader market, gaining 23 percent over the past 12 months at a time when the S&P 500 is up 17 percent.

The Federal Register, where business rules are stored and thus serves as a proxy for regulatory activity, was 19.2 percent smaller from Inauguration Day until Aug. 16 under Trump than during the same period for Obama.

“You can think of that as turning off the spigot of new regulations,” Dooling said in an interview. She said more aggressive movement appears to be on the way.

Dooling said recent regulatory changes from the Environmental Protection Agency and the departments of Education and Labor will advance deregulation in an even “more meaningful way.”

In addition to expected deregulation benefits, there’s also anticipation that the true benefits of tax cuts have yet to kick in. Mick Mulvaney, head of the Office of Management and Budget, recently told CNBC that he attributes the bulk of new economic growth to deregulation rather than the tax cuts, whose benefits he expects to come later.

“It’s still too early to tell. We haven’t seen any of the multipliers yet from tax reform,” said Jacob Oubina, senior U.S. economist at RBC Capital Markets. “We have enough in terms of ammunition to put in 3 percent growth for the rest of this year and even all of 2019, but we haven’t seen sort of this spike in activity yet.”

There’s been another interesting trend that is peculiar to the Trump economy: a drifting of benefits from urban centers to nonmetropolitan areas, which are seeing their first collective population growth since 2010.

Trump’s tax cuts “should deliver greater tax relief to rural areas where there is a higher rate of small business owners who will benefit from the favorable pass-through tax rates,” Joseph Song, U.S. economist at Bank of America Merrill Lynch, said in a recent note to clients.”

Why do journalists choose not to present this news? Is this more important to this country and to you and your family than Kavanaugh or a rogue cop? Was Obama’s destruction of the same economy important news? You decide, but I see it as bait and switch. Hide the ball and keep voters focused on the minutia that gives the Democrat Party cover since daily coverage of a booming economy would make it hard for any Democrat to get elected to any office.

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Comment (1)

  1. Hi, I simply want to say many thanks for the content. I am not one to comment that regularly but keep up the great work and thank you for the top notch article.

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