What To Expect From The Economy

I am spending Trump’s first full week writing about the situations that he will be facing and even predicting a few things to come…..

Just how are most Americans coping these days with the economy and their finances?

Minor emergencies like a busted pipe, flat tire or a root canal happen all the time. But for the majority of Americans, such inconveniences are potential recipes for financial ruin, according to a new survey by finance site Bankrate.com.

In the survey released on Wednesday, Bankrate found that 63 percent of Americans don’t have enough saved to cover even a $500 financial setback. And just half of higher income respondents (defined as $75,000 or more in annual earnings) said they have enough cash to handle such an emergency.

Source: Most Americans Lack Reserve Cash to Cover $500 Emergency: Survey – NBC News

Now there will be those on the Right that will have lots to say about these findings….none of which will be accurate…..

Let’s move on…….what can we expect in the economy in Trump’s first 100 days?

For President-elect Trump, boosting economic growth and creating more good-paying jobs recovery will not prove easy. George W. Bush campaigned on — and delivered — lower taxes and more limited government, but his economic expansion was no more robust than Barack Obama’s and ended with the 2007/08 financial crisis.

Mr. Trump has promised a lot that will be difficult to accomplish, because federal resources are limited. Without any new tax or spending initiatives, the federal deficit will grow as more baby boomers retire, and congress will not always cooperate.

Still public confidence is as important as government policies for inspiring growth, and he can still spell out a robust agenda during his first 100 days. Here are five things to look for in the new president’s first days.

Source: What to expect from the economy in Trump’s first 100 days | Fox News

FOX News, huh?

Not always the most accurate source for actual news but this one is something to consider when dealing with the economy….Morici is a respected economist so his opinions are worth considering…..

The last factor he, Morici, covers is that of trade…….and then word has come out about one of Trump’s first EOs….(more on EOs later today)…….

President Donald Trump on Monday will unravel the behemoth trade deal he inherited from his predecessor, as two sources familiar with the matter told CNN he plans to sign an executive order to withdraw from the negotiating process of the Trans-Pacific Partnership.

That executive order will send signals to Democrats and leaders in foreign capitals around the world that Trump’s rhetoric on trade during the campaign is turning into action. Trump vowed during the campaign to withdraw the US from the Pacific trade deal, commonly known as TPP, which he argued was harmful to American workers and manufacturing.
The executive order is expected to be the first Trump will issue Monday, a senior White House official said, and will amount to the administration’s first major action on foreign policy.
(cnn.com)
The economy will be one of the indicators to tell whether the Trump plans are working or not.

Only thing that is obvious is the Goldman-Sachs will have a good couple of years…..

Closing Thought–17Jan17

As we grow closer to the day of days when the country swears in the king of kings, Donald J. Trump…..and this election was much the same as every recent election…..the fear and loathing of immigrants.

One of the big “solutions” for Trump and his gang of cutthroats is DACA….Deferred Acion for Childhood arrivals…..one conserv solution to the immigration problem…

Let’s say they are successful and eliminate DACA….what will the economc cosats be for the states?

Since June 2012, more than 752,000 people who came to the United States as children have benefitted from Deferred Action for Childhood Arrivals, or DACA. This initiative has provided recipients with a temporary reprieve from deportation and renewable work permits. DACA has lessened the barriers for these recipients to reach their full potential—they have been able to secure good jobs, obtain driver’s licenses, and pursue higher education—so that they might better contribute to their communities. A 2016 survey of DACA recipients shows that they work across many different industries ranging from educational and health services to nonprofits. Along with receiving higher wages, DACA recipients are buying cars, homes, and other goods and services to boost local economies.

But this quintessential embodiment of the American dream is under attack. During his campaign, President-elect Donald Trump threatened to end DACA, along with other executive actions. While it remains to be seen what specific actions the president-elect will take, the fate of DACA is still uncertain. But if the president-elect ends DACA, whether in a single action or by allowing work permits to expire over time, the end result will be hundreds of thousands of young people losing their work authorization and effectively being forced out of the labor market.

(Oh there is so much more)

Source: Ending DACA Will Cost States Billions of Dollars – Center for American Progress

States lose revenue and where do you think the shortfall will come from?

Who actually will benefit from the elimination of DACA?

Closing Thought–28Dec16

Games People Play…..

Recently I was surprised to see that one of my followers, w1nt3l, knew of Henry George and the land value tax……it is an economic theory that I think would solve a lot of problems…..but few know of his theory these days of runaway greed….

When you were a kid or maybe just yesterday…did you ever play Monopoly?  Did you get a monopoly game for Christmas?

Did you know that Henry George was the inspiration for the original Monopoly……..BAM!  Drop the history bomb!

This is a little something to explain the game and its origins…..

A brief history of America’s favorite board game……(you just knew there would be a historic perspective in there somewhere, right?)

Source: Monopoly’s Radical, Anticapitalist, Feminist Origins – by Andy Warner

Back in the 80’s I studied at the Henry George Institute…..and to this day I firmly believe that his land value tax would be an excellent policy for this country to follow.

The Next Cuban Revolution?

Fidel is dead….and the world is on pins and needles….what to do…what to do?

There has been wold speculation at what the world can expect……some are calling for more sanctions to force change…..others think another revolution would be the answer…..and even others are just drooling over the possibility of return to Cuba to continue the rape of the country that was terminated when Fidel cam to power…..

But what lies ahead for Cuba?

Fidel Castro’s death raises the stakes in the debate over the future of the Cuban state and economy.

Fidel Castro’s death over the weekend produced cries of lamentation in Havana and jubilation in Miami. He had been declining for years; long gone was the legendary stamina that carried him through four-hour public speeches, all-night bull sessions, and endless provocations. On the few occasions he was wheeled out for public appearances in recent years, he seemed crotchety and frail.

For example, last March, as millions of Cubans met U.S. President Barack Obama’s historic visit to Cuba with curiosity, Fidel took to the state newspaper, Granma, to complain. Rather than considering Obama’s overtures as a new opportunity, he replayed an ancient litany of Cuban grievances, from Spain’s practice of slavery and the Americans’ Bay of Pigs invasion to vague accusations of Obama being racist. “We do not need the empire to give us anything,” he concluded.

Source: The Next Cuban Revolution? | Foreign Affairs

The answer my friend lies blowing in the wind…..(Dylan be damn)…..I’m not looking for much rational thought coming out of Washington on this issue….but I could be wrong….

 

Hillary Has a Plan For Poverty

I have had my fill of gossip in this election…..this is a reoccurring phenom in every election since Jefferson….it is getting sickening.

Instead of mentioning her plan for poverty on the campaign trail she issued an op-ed in NYTimes…….

Hillary Clinton penned an op-ed in today’s New York Times outlining her anti-poverty plan. She often talks about issues related to poverty, but this may be the first time in the general election that she has put forth a plan to address it. (she has been running for a year or more and it is important now…why?)

Clinton writes:

The best way to help families lift themselves out of poverty is to make it easier to find good-paying jobs. As president, one of my top priorities will be increasing economic growth that’s strong, fair and lasting. I will work with Democrats and Republicans to make a historic investment in good-paying jobs — jobs in infrastructure and manufacturing, technology and innovation, small businesses and clean energy. And we need to make sure that hard work is rewarded by raising the minimum wage and finally guaranteeing equal pay for women. (what part of this is a plan?  Sounds like the same platitudes we always hear)

Source: Clinton’s anti-poverty plan – AEI | Poverty Studies Blog » AEIdeas

The American Enterprise Institute…..whose main concern is the maximizing of corporate profits…..

These are the same promises we always hear at election time…..where is the plan to actually get this done?

But to be fair…here is a link to the original report……

Source: Full-Report.pdf

It is a lengthy report and if you read it then tell me where the promise can be fulfilled.

All this is just a re-hash of the bullshit from the DLC in the 1990’s……her plan will benefit no one but corporate interests…..

Please DO NOT be fooled by the bullshit passed off as a “plan”.

But speaking of a job…..let’s say Clinton wins the election and you would like a job in the White House….what must you do?

If you’re wondering how to get a job in a Hillary Clinton White House, start by reading campaign chairman John Podesta’s hacked emails.

From a billionaire plugging a federal official for a cabinet appointment to Podesta himself plugging the daughter of a friend for an internship, the trove of Podesta’s correspondence posted by WikiLeaks is a portrait of Washington insiderism, showing powerful people turning into supplicants using connections and flattery.

In other words…DREAM ON!
I am out….gone to start my weekend…..hope all have a wonderful weekend….

A New Economic System for a World in Rapid Disintegration

There is lots of whining and moaning about the economy….maybe there should be some changes…..

The world is in the grips of capitalism…..but it is not the capitalism of Adam Smith….this is a system that rewards corruption and theft not hard work…..

People born in poverty will remain is poverty….with very few exceptions.

Time for the planet to work on a new economic model that will benefit all residents of this planet…..not the corrupt few.

We live in ominously dangerous times. The world capitalist system — having fueled colonialism, imperialism and the constant intensification of labor power exploitation for roughly 500 years — now threatens the planet with an ecological collapse of unprecedented proportions. Unsustainable resource exploitation, water pollution (the transformation of lakes, rivers and oceans into garbage dumps) and massive economic inequality are at the root of the possibly irreversible collapse of industrial civilization. Meanwhile, however, too many of us remain caught up in abstract and ahistorical predictions of collapse that fail to offer an alternative realistic vision of a future socio-economic order.

Simultaneously, the phenomenon of global warming, driven mainly by the dynamics and contradictions of a fossil-based economy, has prepared the soil for the eruption of new sources of conflict with the manifestation of historically unique destabilizing social forces. Climate change directly threatens billions of people and most other beings — besides the occasional cockroach, diadem or tardigrade — with outright extinction brought on by droughts, floods and other “natural” disasters.

Source: A New Economic System for a World in Rapid Disintegration

This may sound like a dream….but it could work….but that would require the voter to make up their tiny minds that change is good and change is necessary.

I am talking about real change and not the frail crap handed out at a political rally….change will only come through hard work and determination….and right now the American people have neither.

How To Beat Falling Oil Prices

As we all know the oil market is kinda volatile…up and down….it has been so bad that the Saudis are looking for ways to expand their chances for income….they are exploring many different avenues to make cash.

But it seems that they have found a good way….at least in the short run…..

Muslims are required if possible to make the trip to Mecca at least once in their life….it is a religious obligation….

With Hajj prices for UK pilgrims soaring to $12,000 from $4,000 in 2010, many pilgrims can no longer afford to take part in the trip

With its glittering skyscrapers, ritzy hotels, and sprawling shopping malls, it is hard to believe Mecca was ever a simple dusty, desert town where the likes of Abraham, Hagar and Muhammad once roamed. The transformation to the landscape over the last few decades has been swift and irreversible.

Both staggering poverty and opulence are on full display in Mecca during the annual Hajj season, which began last week. Huddled masses of pilgrims from all over the world lie sprawled out on blankets on the floor of the courtyard outside the main mosque. They include the African family of five who lie asleep with all their belongings at the front door of the high-rise shopping mall and hotel just adjacent to the Grand Mosque, to the thousands of panhandlers who set up camp each year in the Tent City of Mina, selling scarves, slippers, toys – anything in the hope that foreign pilgrims will give generously.

Source: Is Saudi Arabia pricing poorer pilgrims out of Hajj? | Middle East Eye

That is one way to take advantage of a captive audience…..fleece the pilgrims….

Ah the greed is just amazing and all in the name of GOD……