Tag Archives: ECONOMICS

Crying Communist Plays to the Ignorance of the People

House minority leader, Kevin McCarthy, is trying to call the opposition to Trump’s racist and misogynistic statements the work of communists who are against freedom. What a crock! All my adult life I’ve known that the average American couldn’t write a textbook definition of communism. They also struggle with defining socialism.

Communism, as the world has known it is an authoritarian, totalitarian form of government that has, in fact, stripped its inhabitants of their freedom. North Korea and China are communists countries, as is Cuba. Communism is supposed to be an economic system in which the nation’s wealth is distributed equally amongst its citizens. Well, it never was successful at that and instead became just another way to suppress the freedoms and rights of people while the rulers lived high on the hog.

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California, Busted, and Headed East

When I left Ohio for California in 1964 the old slogan was California or Bust! Since the 1840s California had been considered the land of golden opportunity and that’s pretty close to what I found there. I found immediate employment and access to affordable education. I also found this and more at a price that was within my economic means.

I haven’t been in the Golden State since 1970 but I’ve kept tabs on what the years have brought. Mostly time has brought more people, more traffic, and the cost of living that is becoming increasingly less affordable for working class people. In 1968 a nice two-bedroom starter home could be had for around $40,000. Ten years later that same home was selling for over $100,000. A quick Google of current prices indicates it would take a half a million, or more. The same home in Greenfield, OH can be had for around $80,000.

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Our Economic Realities & Trump is not the Wizard

I was recently in the mountains of Northern Georgia and around several bends in the road and tucked down in some holler there’d be a sort of enclave of broken down house trailers where people were eking out some kind of a life for themselves. There’s nothing unique about this, you can see the same thing in any state and any city, people barely getting along.

What caught my eye in Georgia however, were the occasional displays of rabbit support for Donald Trump. There would be weather-worn commercial MAGA flags and Trump signs along with crudely painted Trump signs made from whatever flat surface could be found.

As always I was stunned at the support given to a man who has no knowledge of or affinity towards these hidden Americans. Trump doesn’t know they exist and even if he does, he doesn’t care. He has made no effort to address the needs of poor Americans, in fact, just the contrary. His most recent budget proposal calls for drastic cuts into Medicaid and SNAP, both federal programs that often spell life or death for the poor.

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Tanks, Cars, SUVs, Robots, and Steam Drills

I’m sure those who work at the Lima, OH tank factory were happy to see their jobs saved. But economically speaking, everyone needs to remember that jobs building military hardware are in no way as economically valuable in the long-haul as nongovernmental jobs.
Those lost private industry jobs making consumer products at Lordstown, Ohio were far more important than those jobs saved at Lima. Every car made at GM plants affects the economy in every corner of the nation. The same is simply not true about rebuilding a decades-old war machine. And for Trump to put any part of the blame on the closing of Lordstown on union workers is simply assinine.

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Trae Crowder Reassures Us About Rich White Kids

I followed a Facebook thread today begun by a former student who was reacting to the unfolding college admittance scandal. She was relating how hard she worked to get into college and to pay her own way without help from others, including her mother. There is nothing unique about this woman, she did it the way most of us did it, on our own merits and our own labors. She wasn’t whining or bitching but instead, just expressing the disappointment she felt that American higher education is so difficult for the most while others can evade the hurdles with little more than monetary bribes from their parents.

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Our Next President?

While I’m not much for speculation when it comes to guessing who will win elections, I still enjoy listening to some people’s opinions and insight. Former Labor Secretary Robert Reich is one such person. Here’s a brief video in which he diagrams what factors are most needed to right the turned over apple cart that is America under Trump.

A Brief History of Presidential Wealth

We’ve had forty-five presidents in our nation’s history and there’s a prevailing myth that anyone, regardless of wealth, can grow up and join the club. While it is possible, and we do have examples, to be born poor and make it to the White House, is not the normal way things happen, especially in the modern era.

Everyone knows about Lincoln being born in a log cabin and splitting fence rails for a living. But besides Abe, there are a number of others who had similar humble beginnings. On the list of those who weren’t born with a wooden spoon in their mouths would be George Washington, the Roosevelts, John F. Kennedy, and the Bushes.

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Talk About Your High Inflation Rates!

It was reported that Germans used wheelbarrows and laundry baskets to haul money to the store to buy food.

When I was teaching about the causes of World War Two I had to discuss the rampant inflation rate in Germany following World War One. In 1914 the exchange rate between the German mark and the American dollar was roughly 4.2 to 1. According to Wikipedia, nine years later it was 4.2 trillion to 1. I remember telling my students that the mark was weakening so fast that people would pay for a restaurant meal when ordering because if they waited until the meal was finished, the price would have gone up.

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Walls, Drugs, Drones and Folly

Yesterday I did a little Googling about using drones to get up and over border walls and I didn’t have to dig too far to learn that the technology exists to inexpensively smuggle large amounts of drugs into America via an air force of drones.

Drones vary widely in both price and payload. A few thousand dollars on Amazon will buy one a drone capable of carrying a payload of 12 kg. At an average street price of $200 a gram in the US a 12 kg cargo could be valued at as much as $2.4 million. For several thousand more one could buy a drone with a cargo capacity of 660 pounds. You do the math and don’t forget such a drone may be able to smuggle a couple of people over a wall.

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The Good & Bad of Trump’s Tax Cut

Seriously, I am just kidding, there’s nothing good about Trump and the GOP’s huge unfunded tax unless you’re a member of the super-duper jet club or America’s most exclusive country club crowd. If you’re just another working stiff in America, living from check to check and wondering how the hell your kids will be able to go to college without enslaving themselves in the life long debtors prison called student loans.

Whatever small gains you may experience from the tax cut will last for ten years or less. That’s because your cuts are temporary with a ten-year shelf life, after which, they expire. For that small percentage of America’s richest, the cuts are permanent and will just keep on giving. The new laws may make it easier for you to file but will do nothing to make it easier for you to meet your long-term obligations.
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Some Reality About AOC’s Tax Plan

Old white men wearing dark suits and sporting locks of bright grey hair don’t like change. That’s why whippersnappers who are young, female, beautiful, intelligent, and can bust a move in the hallways of Congress, scare the shit out of them. Most specifically I’m talking about Alexandria Ocasio-Cortez, a major rising star in today’s progressivism. Besides her joy of dancing the old folks don’t care much for her suggested reforms to the nation’s income tax system. What’s got their sphincters in a twist is the 70% income tax she wants to impose on the nation’s wealthiest. If one doesn’t go beyond the 70% figure it is easy for the wealth and power block to lure the average American into thinking the government is coming after their money. Quite the contrary is the case.

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Dow Jones by the Presidents

Donald Trump never tires of telling us how intelligent he is, how good a businessman he is, and how much better he is than anyone else. Of course, his favorite targets are Clinton and Obama. All year he has tooted his own horn over the record levels attained by the stock market and in fact, the Dow Jones Industrial Average did reach a record high. But in December the bottom fell out, canceling all of the year’s gains and leaving the Dow around 4,000 points lower. Where he took full credit for the gains he has several people to blame the losses on.

So what’s the truth? How has the Dow performed under his leadership compared to other presidents? During Trump’s first two years in office, the Dow has grown by 19.2%. Now let’s compare that against some other presidents.

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To Smoke or Not to Smoke?

Recently I pulled into the drive-thru at McDonald’s and in front of me was a car with two teenage boys. They weren’t paying attention and keeping up with the line. So, expecting a flock of angry birds I honked my horn. It woke them and from then on they mostly paid attention.

What I noticed, when their heads weren’t bobbing to something I wouldn’t recognize as music, was that both were either smoking cigarettes or vaping. I could fault them for that but at their age, I was on my way to becoming totally nicotine addicted and working my way towards two or more packs a day.  The brief experience made me reflect back on my own experiences.

Ironically the Marlboro Man died of cancer.

I guess that I began smoking around age twelve, if not younger. That would have been 1954 and I continued smoking until 1982 at age forty when I attended a smoking cessation class and six weeks later snuffed out my devil weed. So, I smoked 28 years and have been smoke-free for 36 years.

In 1954 a pack of cigarettes in New York was .23 cents and I was smoking one or two a day.  By 1960, the year I graduated from high school the price was .26 cents and I was consuming a pack a day. In 1982 cigarettes were .82 cents a pack and I was smoking three packs a day and if I went bar hopping on Friday night it would be another two packs for a total of five.

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Just One Week of Trump

I normally don’t like reposting memes. There are several reasons but mostly I want to write my own words and my own thoughts plus, frequently memes aren’t accurate. However, in the following case it’s right on accurate and why should I waste my energy typing when this meme is so succinct.

And yet, one third of America’s voters still think he’s honest and doing a great job.

The Cost of Living with Trump

According to CNBC  Trump’s tariff on steel and aluminum will add $1,800 to the cost of a Toyota Camry sedan, assembled in Kentucky. A similar cost would occur for a Tundra pickup truck and around $2,900 on a Sienna minivan. To some degree the same will happen to all automobile costs because so many materials and parts are imported.

Trump loves to brag about the economy and takes major credit for it. He mostly points to the rising stock market and falling unemployment rates. What he doesn’t mention is the stagnation of wages  for the working class, the shortage and rising cost of housing, the skyrocketing cost of education, the in-affordability of medical care, and the enormous tax breaks he’s given to the super wealthy.

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