Closing Thought–20Nov19

The economic outlook for Gen Xers, those born between 1961-1981, will have a much bleaker future than us Boomers.

My daughter is a Gen Xer and I have watched her struggle with debt mostly from her college and I hate that I read that her future and retirement does not look well…..

In 1991 the demographers Neil Howe and William Strauss published their awkwardly-titled tome “13th Gen,” about Generation X—the Americans born between 1961 and 1981. If Xers had paid attention they would have committed suicide.

“Child poverty, employment, wages, home ownership, arrest records — in every category, this generation, the 13th since the American Revolution, is doing worse than the generation that came before,” New York Times book critic Andrew Leonard wrote at the time. “Indeed, for the first time since the Civil War, the authors of ‘13th Gen’ keep reminding us, young people are unlikely to surpass the affluence of their parents.”

Tellingly, the Times titled Leonard’s review “The Boomers’ Babies” as though their relationship to The Only Generation That Mattered at the time was their status as offspring. Which, equally tellingly, was incorrect. Most Xers’ parents belong to the Silent Generation that came of age in the 1940s and 1950s, not the Boom.

Gen X Faces a Bleak, Impoverished Old Age

I hate that she may be in dire straits in her senior years…I just hope that I do not have some debilitating disease and I can leave her a little something to help her  and her family out in their declining years.

I Read, I Wrote, You Know

“Lego Ergo Scribo”

American Presidents–The Terrible

That time again…..time for a the old professor to expand your mind….and with out those drug altering drugs…..

History time again…..(I can hear the eye rolls and the heavy sighs)….as I type….according to some this admin is one of the worst in our history…..but how does it rank?

If you are a voter then you have an idea who you think was a terrible president…..most times it is along party lines…..but for the sake of argument I found a list of who they think were the “terrible” presidents…..this is along ethic and moral lines…..

Not all American presidents set a good example during their time in the White House. Your take on the most hated presidents probably depends at least a little bit on your politics. But when it comes to ethics, some presidents did things that, many Americans would agree, made them terrible people. Some committed crimes. Others took sexist, racist, or homophobic actions. Still others sanctioned unnecessary violence and brought about the deaths of thousands of people.

Democratic or Republican, numerous presidents have done things that Americans shouldn’t feel proud of. Read on to discover some of the American presidents who were actually terrible people.

https://www.cheatsheet.com/culture/american-presidents-who-were-terrible-people.html/

Please if you have someone else in mind please let us know and we can discuss your choice.

Class Dismissed!

I Read, I Wrote, You Know

“Lego Ergo Scribo”

House Impeachment Hearing–Day #3

The Congressional Hearing resumed on the 3rd day of testimony by witnesses…..2 separate hearings so a full day of testimony…..

The hearings begin with the testimony of Lt. Col. Vindman……then on to Jennifer Williams……

  • Both Vindman, a Ukraine expert with the NSC, and Jennifer Williams, a Mike Pence aide, reiterated to lawmakers that they were troubled by Trump’s July phone call with Ukraine’s leader, reports the AP. Both listened in on the call directly, and they stated similar concerns during their closed-door depositions. Vindman called it “improper” and Williams “unusual.” Trump had previously criticized them both as “Never Trumpers” out to get him.
  • Trump on Vindman: “I don’t know Vindman at all,” said Trump. “I watched him for a little while this morning, and I think he—I’m going to let people make their own determination.” Trump took note of Vindman’s military attire. “I understand now he wears his uniform when he goes in,” Trump said. He also made a somewhat sarcastic reference to how Vindman corrected the GOP’s Devin Nunes for calling him “Mr. Vindman” instead of using his rank. “I understand someone had the misfortune of calling him mister,” said Trump.
  • Trump on others: “These are names, like (William) Taylor, like (George) Kent with the bowtie, the wonderful bowtie. Maybe I’ll get one for myself one day,” Trump said, per the Washington Post. “All these people are talking about they heard a conversation of a conversation of another conversation that was had by the president. What is going on is a disgrace.”
  • AM opening statements: Read the prepared remarks via CNN of the first two witnesses, Vindman, here, and Williams, here. The opening statement of Democrat Adam Schiff is here and that of his GOP counterpart, Nunes, is here.
  • Vindman: He spoke of his family’s roots in fleeing the Soviet Union decades ago. “Dad,” he said in his opening statement, “my sitting here today, in the US Capitol talking to our elected officials is proof that you made the right decision 40 years ago to leave the Soviet Union and come here to the United States of America.” In his native land, speaking up about his concerns with a president’s phone call might have gotten him killed, he said. “Do not worry, I will be fine for telling the truth.”
  • Williams: “I found the July 25th phone call unusual, because in contrast to other presidential calls I had observed, it involved discussion of what appeared to be a domestic political matter,” she said, referring to Trump’s conversation with his Ukrainian counterpart.
  • Nunes: He repeated a common refrain from the GOP: Where’s the whistleblower who started all this? “Now that the whistleblower has successfully kick-started impeachment, he has disappeared from the story,” Nunes said. “As if the Democrats put [him] in their own witness protection program.”
  • Schiff: He denounced earlier attacks on witnesses from Trump and his supporters. “Ms. Williams, we all saw the president’s tweet about you on Sunday afternoon and the insults he hurled at Ambassador Yovanovitch last Friday,” he said. “You are here today, and the American people are grateful.” And to Vindman: “We have seen far more scurrilous attacks on your character, and watched as certain personalities on Fox have questioned your loyalty,” he said. “I note that you have shed blood for America, and we owe you an immense debt of gratitude.”
  • In the afternoon: Former special envoy to Ukraine Kurt Volker and former National Security Council aide Tim Morrison, who has told the panel that he didn’t hear anything illegal in the Trump phone call, testified. Read Volker’s opening statement here and Morrison’s here.
  • Volker: He said he should have realized Trump’s push for an investigation by Ukraine was connected to Joe Biden, who he said is an honorable man. If he had, Volker said, he’d have objected.
  • Morrison: Democrat Eric Swalwell pushed on why Morrison wouldn’t have thought Trump’s July 25 phone call wasn’t improper, per the Post. “It was not a policy objective that I was aware of,” Morrison answered. Swalwell told him he believes Morrison didn’t ask Ukraine to investigate the Bidens because he knew it was an unlawful order.

So far all the attacks on the witnesses by the GOP, Willy the Weasel and Jimbo Baggins, have fallen short and look impotent and pathetic and desperate….plus I found it disgusting that these GOPers tried to attack a veteran…..attacked by spineless toads that did not serve and want to criticize anyone who did….

This process is proving just how much the GOP loathes the military regardless of what their silly campaign ads say.

Wednesday is another day….and a full day it will be….more hearings and the Dem Debate from Atlanta.

Watch This Blog!

I Read, I Wrote, You Know

“Lego Ergo Scribo”

Economic Realism–2019

We hear almost daily at a Trump rally just how good the economy is doing since he became president….I will admit that the markets, stock markets, are doing well and that is where it ends…..there is nothing good happening beyond those hollow promises.

Trump and the GOP keeps Tweeting about what great condition the economy is in….but I feel they need a refresher course….the economy means….”the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.”

Markets are soaring…the economy not so much.

I mean a 10% drop in manufacturing (I thought it would all come back under a Trump admin) and investment lagging…..all thanks to the economic policies of this president….

Decisions based on false or misleading information can lead to wrong and harmful solutions. The constant harping on Chinese trade having “cost” America millions of jobs is false, especially given what we now know: that 85 percent of American job losses have resulted from technology, not trade.

This complicated issue is detailed in a Yale University School of Management report. However, this is not the end of the story.

Millions of simple manufacturing jobs have been replaced with service and advanced manufacturing jobs, where America still leads. In fact, American manufacturing’s major problem right now is a shortage of a million skilled workers. We need better worker re-training programs and a campaign to change attitudes towards the social standing of skilled workers in place of our current hyper-focus on college degrees.

Trump’s Trade War Has Dire Consequences

Americans are starting to see just how disastrous Trump policies are for them….these policies may help his rich friends but do very little for mainstream America…..

Nearly two-thirds of U.S. voters said they are not better of financially since Donald Trump took office, a new poll of likely voters finds.

The October 2019 poll conducted by the Financial Times and the Peter G. Peterson Foundation found that 31 percent of potential U.S. voters reported being worse off financially since Trump took office in January 2017. An additional third of Americans surveyed, 33 percent, said there has been no change in their financial status under the Trump administration.

Just over one-third of those surveyed, 35 percent, said they were better off since Trump moved into the White House.

https://www.newsweek.com/trump-presidency-helped-americans-financial-standing-poll-us-voters-1469625

The bottom line on the economy is…..not good.

While you weren’t looking — perhaps while you were watching impeachment hearings – the trade war with China went completely off the rails and lost its meaning.

To understand why, you have to know why the US started a trade war with China started in the first place. It started with a very specific investigation — an investigation into China’s theft of US intellectual property (IP) using Section 301 of the Trade Act of 1974.

The investigation determined what many in the business community had been talking about for years, the fact that China abused its US partners, stole the IP of American companies, forced those companies to reveal their technology to Chinese counterparts and muscled US firms out of the Chinese economy in favor of state owned enterprises (SOEs).

https://www.businessinsider.com/trump-trade-war-us-china-tariffs-lost-no-meaning-2019-11

Sadly those so-called “Free Markets” are killing the very sector it is suppose to help and advance…..

National industrial policy was once something you might read about in today’s equivalent of a friend’s Facebook post, as hard as that might sound to believe. It was in newspapers; it was on the radio. Taxi drivers had opinions about it. That all changed in the last 35 years, when the rise and fall of the stock market and a shallow conversation about unemployment rates took over. Industrial policy became an inside-baseball conversation, and to the extent that it was discussed, it was through the prism of whether it imperiled the golden gospel and great economic distraction of our time, “the free market.”

The decades of free-market propaganda we’ve been exposed to are basically an exercise in distracting the public from the meaningful choices that are now made behind closed doors. The two big political parties that outwardly represent symbolic issues like gun rights and school prayer spend the bulk of their time and political energy on complex industrial and regulatory questions.

America Will Keep Losing Its Middle Class as Long as ‘Free Markets’ Dominate the Economic Debate

Trade wars do nothing to help the Middle Class advance….and after so many years of a “free Market” mentality the proof is in the dwindling of the Middle Class.

The stock markets are not the economy in its entirety.

Be Smart!

Learn Stuff!

VOTE!

I Read, I Wrote, You Know

“Lego Ergo Scribo”

North Korea Has Lost That Loving Feeling

Trump and Kim of North Korea have had a love hate relationship for a coupe of years…..at first Trump talked tough (his usual BS) and then after the exchange of niceties he “fell in love” with Kim (his words not mine)……

After a success then there was a mis-start and then the cooling of the budding relationship….but now Kim has done all he can to break any ties that he has with Trump……

North Korea took a diplomatic shot at President Trump on Monday while rejecting the idea of another meeting. After a Trump tweet suggested the two sides would again get together—”see you soon!” he wrote—a diplomat from North Korea said thanks, but no thanks. The North, he said, isn’t interested in a meeting that results only in bragging points for Trump. “The US only seeks to earn time, pretending it has made progress in settling the issue of the Korean Peninsula,” said diplomat Kim Kye Gwan, per the AP. “As we have got nothing in return, we will no longer gift the US president with something he can boast of.”

The response came after the two sides found some common ground in dissing Joe Biden, notes the Wall Street Journal. After the North likened Biden to a “rabid dog,” Trump responded with a backhanded compliment. “Mr. Chairman, Joe Biden may be Sleepy and Very Slow, but he is not a ‘rabid dog,'” Trump wrote. “He is actually somewhat better than that, but I am the only one who can get you where you have to be. You should act quickly, get the deal done. See you soon!” His reference to “the deal” is about the stalled nuclear talks between the two nations.

The lack of the US giving North Korea anything in return is a big reason why talks haven’t made progress in some time. The US has expressed a willingness for more talks, but has shown no sign they’ll let North Korea get sanctions relief or anything in return.

Though there had been some talk of another summit in December, North Korea seems to be backing away from that unless the US commits to taking a different approach from the previous meetings, which were largely done with an eye toward global media praise.

Looks like the “bromance” has run its course and now we will return to the tough talk and threats……

No way to run a foreign policy.

I read, I Wrote, You Know

“Lego Ergo Scribo”