Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘depression’

The Trump Depression

Posted by Warm Southern Breeze on Sunday, October 18, 2020

Trump’s economy is SO BAD

How bad is it?

Trump’s economy is so bad, that he has LOST MORE than was gained under his administration.

When he took the Oath of Office in January 2017, POS45 was given a THRIVING economy by his predecessor, the Black Democratic President (that’s GOT to gall POS45, don’t you know!?!) Barack Hussein Obama.

Federal Reserve Economic Data (FRED) from the St. Louis Federal Reserve, presented graphically data from the U.S. Bureau of Economic Analysis about our national economy.

And, just for funsies, and perspective, data from the First Quarter 2005 until Current – 2nd Quarter 2020 is shown.

And as you can see plainly, the last time the economy was performing at this level, was in the 1st Quarter 2015 – over 5 years ago.

5ive years.

That would be the next-to-last year of President Obama’s 2nd term.

Yeah.

Trump has

SQUANDERED AWAY EVERYTHING,

AND THEN SOME!

Kinda’ sounds like a Bible parable, or some such thing.

Isn’t that what he’s done historically with his casinos and their 6 associated Chapter 11 bankruptcies?

But look also at this: The sudden precipitous decline, the rapidly massive downturn in Trump’s economy is the WORSTTHE WORST (he likes superlatives) – since records began being kept in 1947. Maybe even worse than the Great Depression.

But look also at this: The sudden precipitous decline, the rapidly massive downturn in Trump’s economy is the WORSTTHE WORST (he likes superlatives) – since records have been kept in 1947. Maybe even worse than the Great Depression.

Trump’s economy is now at the point
where Obama’s economy was
in the 1st Quarter 2015.

Put another way, Trump has Read the rest of this entry »

Posted in - Business... None of yours, - Lost In Space: TOTALLY Discombobulated, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , | Leave a Comment »

The Economy WILL Crash. It’s only a matter of “WHEN?”

Posted by Warm Southern Breeze on Wednesday, June 24, 2020

Economics has long been called the “dismal science.”¹

Perhaps it’s because they either a.) Tell the truth, or b.) Warn about bad things to come. Either way, it’s hardly a French tickler, and more like a Marquis de Sade.

But, some folks don’t enjoy hearing the truth, or as the actor Jack Nicholson’s character Guantanamo Base Commander Colonel Nathan Jessup raged upon the witness stand in the 1992 motion picture “A Few Good Men,” that “You can’t handle the truth!”

Of course, we’re familiar with how that movie turned out.

Free economies are based upon consumer spending. Period. Full stop.

If consumers don’t have money, they don’t spend. That’s easy enough to understand.

And, if anything, the coronoavirus pandemic has shown up how poorly prepared this president’s administration has been, and continues to be.

Again, those aren’t “nice words” to hear or read, but they are the unvarnished truth.

To say that “the economy is improving” is a mischaracterization of enormous proportion, so much so, and to the extent that, it’s either whistling past the graveyard, or Whistler’s Mother – both of whom are dead.

The economy was “doing well” according to some estimates. Those estimates included the DJIA, the stock indices of various firms and select industries, and some hedge funds. The “essential” worker bees were just hanging on by a thread in their retail, meat processing, and low-paid food service industry jobs. And once they got sick, they were fired, and… BAMMO! The shit hit the high-speed fan.

Suddenly, there were no more “worker bees” and the economic house of cards began to collapse with each puff of wind from COVID-19 patients’ coughs.

Fortunately, Congress (as in the House of Representatives) had the wisdom and foresight to actually bail out THE PEOPLE this time, and to give a much smaller hand-out to industry. The familiar cry “Where’s MY bailout!?!” was the primary sticking point with the previous administration in the process of recovery from “the Great Recession” when Big Business and industry got practically everything their hearts desired, but the people got nothing. Literally, nothing. Bupkis. Zero. Zilch. Nada. Not even a peck on the cheek after they were screwed.

This time, The People who lost their jobs due to COVID-19 were given an extra $600 per week of Unemployment Compensation, which was set to expire July 31. Ever seeking cheap labor to fill their stores, factories and farms, the Republicans decried the matter, but agreed to go along with the plan, hoping that the administration would  have a more cohesively unified plan to stop the assault of COVID-19 upon America’s lives, young and old, alike.

But as it became increasingly clear that nothing of the sort was going to happen, and that an extension of such benefits would likely become necessary because either businesses went belly-up, or couldn’t guarantee their employees’ safety on the job (as protection against COVID-19), the employees, many of whom were already at risk of serious injury from such infection, declined to return to work, and continued to draw their extra $600/week Unemployment Compensation.

But hey! A bright spot!

Facebook, Apple, Google, Amazon, and other industry monoliths were doing A-okay, and were even increasing profits! So yah… it was all sweetness and pleasantries once again for the Billionaire Class.

But The People.

Those pesky people.

Those essential sacrificial lambs of industry… what to do with them? Those who could – and still had jobs – worked from their residences. Those who, for whatever reason Read the rest of this entry »

Posted in - Business... None of yours, - Did they REALLY say that?, - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , | Leave a Comment »

The iPhone Stimulus

Posted by Warm Southern Breeze on Friday, September 14, 2012

Gonna’ get yours?

The iPhone Stimulus

By PAUL KRUGMAN, September 13, 2012

Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they’re with.

So is the new phone as insanely great as Apple says? Hey, I’ll leave stuff like that to David Pogue. What I’m interested in, instead, are suggestions that the unveiling of the iPhone 5 might provide a significant boost to the U.S. economy, adding measurably to economic growth over the next quarter or two.

Do you find this plausible? If so, I have news for you: you are, whether you know it or not, a Keynesian — and you have implicitly accepted the case that the government should spend more, not less, in a depressed economy.

Before I get there, let’s talk about where the buzz is coming from.

A recent research note from JPMorgan argued that the new iPhone Read the rest of this entry »

Posted in - Uncategorized | Tagged: , , , , , , , , , , , , , , , , | 2 Comments »

Two Numbers – ONE BIG, one small

Posted by Warm Southern Breeze on Thursday, December 17, 2009

$9,100,000,000,000

Nine TRILLION, one hundred BILLION…

Remember another number.

Two.

During the reign of King George W. Bush, just TWO of his failed policies have cost Americans $9,100,000,000,000.

What two failed policies are those?

The Bu$h tax cuts, and the creation of a Rx (prescription drug “benefit” written wholly by Big Pharmaceutical industry cronies.

The U.S. Census Bureau’s most current estimation of the population of the United States places 308,171,505 people in the United States as of December 17, 2009.

Put another way, that’s a cost of $29, 529 per person.

As a result of deregulation of the financial industries – banks, insurance and stock brokerages – thus creating one giant incestuous financial orgy, Americans have directly suffered under the thumbs of bankers and insurance companies, while their Wall Street cohorts, in conjunction with imaginative thieves, have twiddled and fiddled to create “investment derivatives” – essentially a Ponzi schemed fiscal fraud – out of thin air. That house of cards having collapsed, has revealed what was suspected all along. Outside the transparent dressing room of his glass house, the king had no clothes.

Driven by greed and an insatiable lust for more, …Continue…

Posted in - Lost In Space: TOTALLY Discombobulated | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment »

 
%d bloggers like this: