Last night, I offered a scorecard of who has reportedly been interviewed by Robert Mueller. Tonight, I offer a scorecard of a different sort; one that puts the Great Republican Scam of 2018 into an all too upsetting perspective.
Take a look at that $6 Billion for workers. Chances are that is you, the reader of this post. If you are one of the approximately 300 Million Americans (I'm rounding it off just in the interest of simplicity), your average share of that $6 Billion would be $20.00. How's that $20.00 changing your life? Oh, you say your share is well above the average? OK. Great for you! You say your share is what $100? $1,000? $1,500? Wow! I bet that's life changing for you! That money can buy you a lot of healthcare, no?
The combination of effects of Trump's shenanigans will be "yuge," don't you think? And not in a good way. Tax "reforms," steep steel tariffs, deregulation of the banks....We will become a roller coaster out of control flying off the tracks.
ReplyDeleteI am wondering when the stock market will crash. Any tips on that, Noah? Before November, perhaps? Maybe Mnunuchin (sp?) will save the day! After all, he exudes such confidence, knowledge and ethics.
What extra one gets now will end up being repaid in april 2019 - and then some. Can't be taxing those rich folk, now!
ReplyDeleteyou should extrapolate that out to the full trillion or two by the end of trump's first term (prez for life by then). Just multiply by 5 or 10.
ReplyDeleteThe stock buybacks act to artificially bolster the share prices which are used as a metric for the ceo caste's compensation, options and bonuses especially. And there's only a few of those guys to divvy up several billion in bonuses.
Hone, as you may remember, the last anti-red wave was catalyzed by the 2008 crash just before the election. McCPalin was ahead on national polls AND looked like an electoral college winner until Lehman went poof and Paulson/Cheney threatened martial law unless congress passed their 3-page bailout package.
ReplyDeleteIf there is a crash this spring or summer, it might make the amplitude of the anti-trump wave bigger.
But that doesn't mean it'll make the democraps any better than they were in 2009. They refused to "earn it" then. They'll utterly refuse to "earn it" this time.
The next crash will be straight-line caused by the democraps' refusals to fix anything in 2009 just like the 2008 crash was straight-line caused by the Clinton admin's deeds in the later '90s.
Every decade or so, for as long as the democraps exist, we'll have a crash caused by what democraps do and refuse to do. In this respect, republicans are mostly irrelevant.
The next market crash is already underway. Anyone paying attention watches for the first trigger, which is when worker wages begin to rise above the minimum. Every time, the corporatist propagandists begin shouting about the rising inflation and push for higher prime rates to stem the tide lest the wealthy suffer loss of value.
ReplyDeleteConsumers have again hocked the house by buying crap they didn't need, so they are vulnerable to a crash. With the altered bankruptcy laws, it isn't yet clear how much of an effect this will have, except that the subsequent problems their defaults will cause will also be larger. It isn't unreasonable to expect that the coming crash will make 2008 look like a picnic, for there are fewer prospects to reverse such a crash compared to then - and that crash essentially took a decade to correct.
Now add in Trump's ignorant trade barriers, and the conditions for global conflict are now in place once the world economy ceases to function.
7:57, wages rising faster than inflation usually precedes RECESSIONS. Crashes come from schemes of fraud or pyramids or something of the like. 1929 and 2008 happened a decade after their seeds were sown by pyramidists and government dereg. For them to succeed, they also needed a decade of governments averting their eyes.
ReplyDeleteWages are only now starting to creep a bit and only due to a fractional result from the latest tax cuts and skewed severly by obscene compensation gains at the very top.. Absent that, wages would remain basically stagnant (barely keeping level with inflation) since 2002.
After 1932, FDR took steps to fix the past schemes and prevent them in the future. It took until Reagan in '80 to start the whole thing again.
After 2008, obamanation did nothing. The next one will be soon. trump's stupidity is probably largely irrelevant. Congress' corruption and complicity are not.