I’ve had some very learned people that are high level institutional financial professionals tell me that when the hangover comes it may be worse than 2008. With the yield curve inversion, to Trump’s ill advised trade wars that he promised were “good and easy to win” to major tax increases on the American people via Trump/GOP tariffs the economic headwinds are undeniable and negative interest rates will not solve them.
The best way for the little people to prepare themselves is to get debt free.
By now everyone should know the drill, some Hollywood celebrity flies into the area to pick up a taxpayer funded welfare check, films a few scenes and immediately flies the heck out (Mississippi / State of Louisiana in general) or sticks around and goes on a bender in the French Quarter (New Orleans). Either way when word gets out that a celeb. is in town to pick up their welfare check the local media is quick to fawn. It is against that backdrop that when a heavyweight reporter like Karen Nelson is assigned to write a story about Hugh Jackman filming a few taxpayer funded movie scenes at Michoud, something snapped inside and a twitter poll was born:
Who gives a shit Hugh Jackman flew into to NOLA to film a few scenes for a welfare check from the state of LA?
Frankly the poll results, nonscientific as they are warmed the cockles of my heart. Had I been able to vote in the Slabbed poll I would have gone second option but what is clear is the majority of you that took time to vote know exactly what the score is: Continue reading “We have a final!”
When Ronald Reagan was running for President, one of his most dependable applause lines went like this: “Government is not the solution to the problem, government is the problem.” As soon as Reagan became President, however, he expanded the size of government and increased the deficit.
When George W. Bush became President, he moved to reduce taxes on high-end earners. His Secretary of the Treasury, Paul O’Neill, objected on the grounds that reducing revenue into the treasury would increase the deficit. Vice President Dick Cheney put O’Neill in his place, saying, “Reagan proved deficits don’t matter.”
Taxes were cut. The deficit rose, and O’Neill was soon gone.
Fast-forward to the Obama presidency, and our Republican friends are telling us that not only do deficits matter, they matter more than anything else. What they are really saying is that when they are in charge, they don’t want talk of deficits to constrain their actions (taxes, defense spending, credit card wars). But when Democrats are in charge, all spending must be viewed through the lens of its impact on … The Deficit. Continue Reading……………….
Due to what one commercial landscaper called Alabama’s “negative atmosphere,” legal Hispanic residents are leaving the state, creating shortages of workers in construction and agriculture. As Bloomberg News reported in June, the post-tornado reconstruction of Tuscaloosa has been hindered by a lack of skilled labor, partly because, after the law was passed, Hispanic tradesmen began leaving the state. Meantime, during the recent harvest, tomatoes and other crops were left rotting in north Alabama’s fields.
Late last week Times Picayune pundit Stephanie Grace wrote a column on the call to rebrand the Louisiana democrats who are now on life support giving a local flavor to trend toward the southern states once again chipping in solely with one political party. I thought of it when I saw the name Elizabeth Warren pop up in the news cycle in the aftermath of President Obama’s online conversation at LinkedIn yesterday.
Anyone that has paid attention to the oversight accorded to George Bush’s last major official act in the financial bailout known as TARP well knows the name Elizabeth Warren. She was born a southern girl to a middle class family in Oklahoma before making good, landing more recently as the chairwoman of the Congressional Oversight Committee for the bailout. She simply took no prisoners and tackled her job in a nonpartisan way that made her a folks hero of sorts to the ordinary people who paid attention to her work. Following is an exchange with Treasury Secretary Tim Geithner that illustrates that point:
I say this because Ms Warren was the logical choice to head the new consumer protection bureau at the Department of Treasury but President Obama was sold out before he arrived in the oval office so that job went to someone else. I’ve often joked the voters are electing republicans to Congress to send President Obama some much-needed help because he acts mostly like a republican and to a certain extent it is true. Obama had the Bush-era tax cuts expire on his watch and he renewed them almost as a matter of routine before he began to clamor to raise tax rates on the wealthy. To me it comes across as the height of duplicity. Continue reading “Rebranding the Democrats: Ditch Obama and get behind Elizabeth Warren.”
Folks I’ve prepared tax returns since the late 1980’s and worked as a CPA for small businesses both larger and smaller than Louisiana Representative John Flemming’s fast food empire. Back in the 1990s when tax rates were higher 6 figures folks like John absolutely paid more in taxes. Our budget was balanced and the economy was booming.
I’ve found most market and economic “experts” are like parrots, once they get the story down all faithfully repeat the party line without a second thought. I’ve always found the ivory tower set and their enablers in the media to be particularly out of touch with reality. Three recent posts from the daily bail tell the true story of the employment picture:
There will be some dumbass talking head that doesn’t know what he is talking about bullshitting you on the economy or some political hack pointing fingers at the other party playing the blame game. Trust me when I say turn off the TeeVee and turn instead to the Daily Bail. That is all.
We have a reader request for Monday Music and it is a good choice. Dedicated to Tim Geithner who never met a Wall Street exec he failed to pay a taxpayer-funded bonus to under the ruse of contract sanctity. FYYFF!