What Has Been Foisted Upon The American
Mother.
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This is a must attend. I arranged for Gene but, alas, will be out of town.
Skidaway Island Republican Club
Presents:
True Perspectives
The FBI Perspective onTerrorism
Eugene S. Kowel - Head of Local Office
Plantation Club
Cocktails/Cash bar : 4:30 PM
Presentation : 5:00 PM
Sustaining members – Free
Regular members - $5
Non-Members - $10
All Welcome
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In my previous memo of " Trump/Obama Comparisons" I left out two important ones:
Trump is anything but Politically Correct and believes it is destroying our nation. Obama is the embodiment, the epitome of Political Correctness and constantly employs it to create discord.
Trump understands expanding the pie allows more to eat and Obama believes you take away the pie from those who have baked it and transfer it to those who believe they are entitled to it.
Bernie does not even know how to bake a pie but he does know how to steal one. Hillary is a pie in the sky candidate in that she poses as Apple Pie and Ice Cream when she really is a sour tart.
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I recently discussed our puny economic recovery and the growth of the Hispanic sector which, if removed from our GDP, left GDT basically flat.
We now have evidence the economic "norm" has become just that. Why? Well for starters, Obama has crushed our economy with restrictive legislation, has blocked expansion by rejecting energy projects and pipeline development and wasted untold billions on alleged shovel ready projects which were never thought through and alternate energy projects which bankrupted but siphoned tax payer money to 'Green" supporters.
I have yet to mention the waste over Obamacare and the billions spent pursuing an unwinnable strategy in The Middle East meant to create the appearance of fighting when, in fact, it was really a scheme to retreat and create a vacuum which Iran and Russia filled.
Then we have The Fed lowering rates in order to prop up housing and to create a wealth effect due to a rising market, in the face of deficits that have doubled in 7 years. In other words the economy has remained listless while debt grew at a compounded rate exceeding 13% per annum.
Obama cites unemployment has dropped but more people are unemployed and no longer looking for work so statistics can lie and secondly, many of those re-employed are earning less than in their previous jobs. Thus, raise the minimum wage. More stupidity that will backfire.
None of the Obama policies are sound. They are simply knee jerk patchwork efforts to create political happy talk. Obama's own race has suffered miserably from his presidency but you can bet they will remain diligently committed to the Party that takes them for granted because, like the frog in the frying pan, their slave mentality continues crippling, disarming and self defeating. Hillary knows if she visits enough black churches and panders they will keep drinking the Kool Aid. How sad. How tragic. How dangerous. Why? For obvious reasons and then some that are not because a growing permanent and poorly educated dependent underclass are ripe for the siren message of deprivation, discontent and anarchy and there are plenty of radicals ready to protest, riot, stir up trouble while taking advantage of the freedoms they seek to destroy.
Dry rot from within can be very troubling. Ask Orkin! (See 1 below.)
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I am going to be out of town beginning next Wednesday through the following Wednesday so will not be here to wish all my girl friends and female fellow memo readers the Happiest and Best Ever of Mother's Day. So I shall do so now.
You form the bed rock of our nation yet, you have been lied to by our political class, even some among your own gender have abused you with false promises, many of your husbands have deserted you and your children and you have been left to raise them and work at the same time.
This is simply another tragedy our society has foisted upon you. You deserve better.
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Dick
========================================================================1)Make America Grow Again
The economy barely dodges recession, and Washington yawns.
When did Americans decide that 1% or 2% economic growth is acceptable, that puny wage increases are inevitable, and that we should all merely shrug and get used to the country’s diminished expectations? Those questions come to mind watching the desultory reactions to Thursday’s report that the U.S. economy grew by a meager 0.5% in the first quarter of 2016.
No worries, mate. Isn’t the first quarter always lousy? We’re told the job market is strong enough, growth will perk up the rest of the year, and the Federal Reserve is on hold. The White House issued its typically upbeat GDP analysis, with the only discouraging word being that “even with the solid growth in recent years, there is room for further expansion.”
President Obama didn’t comment on the first quarter, but the New York Times rolled out an interview with him Thursday, part of a larger apologia for his economic record, in which he offered this beauty: “I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform. By that measure, we probably managed this better than any large economy on Earth in modern history.”
Mr. Obama has already compared himself favorably to every President except Lyndon Johnson, FDR and Lincoln, so why fake humility in his home stretch?
The reality is that the first quarter is further evidence of what has been the weakest economic expansion in the postwar era. The 0.5% growth is subject to revision but it follows 1.4% in the fourth quarter. Growth over the last six months has averaged about 1%, and under 2% over the last 12 months. The usual definition of recession is two consecutive quarters of negative growth, which we barely ducked.
The first-quarter growth details aren’t any more reassuring. Private investment chopped 0.6% off GDP, falling 25.5% from the fourth quarter. Consumer spending slowed, despite falling gasoline prices. Both declines reflect a lack of confidence in future growth. If it weren’t for housing (up 19.3%) and state and local government spending (up 12.6%), GDP in the quarter would have been negative.
The second quarter is looking a little better but hardly gangbusters if corporate profits are a guide. Business surveys are anticipating that profits will fall for the third quarter in a row, the longest streak since the end of the financial panic. When even Apple Inc.reports a sales decline, you know the outlook is difficult.
All of this continues the slow-or-slower pace of this entire expansion that began nearly seven years ago. Each year has had a similar GDP dip, and growth has never exceeded 2.5% (2010). The American economy hasn’t grown by more than 3% since 2005 (3.3%), the longest such stretch of malaise that we can find in the Bureau of Economic analysis tables going back to 1930. Even the Great Depression saw a snap back to rapid growth from 1934-1936.
Yet Americans are supposed to accept this as the new abnormal that no one can do much about. As Kevin Warsh notes nearby, the latest excuse is to blame slow growth on the rest of world. So America would be booming if not for China, which would be booming if not for Europe, which blames Japan, which blames America.
This is more convenient than questioning their economic policies, which with few exceptions have been similar since 2008. First blowout government spending, followed by record-low interest rates and unprecedented central-bank bond purchases, along with ever-tightening regulation across the private economy. The result has been what evenBernie Sanders and Bill and Hillary Clinton have conceded on the campaign trail are declining economic prospects for millions of Americans.
As for Mr. Obama’s financial-crisis excuse, how many more years can he dine out on that one? The U.S. economy has recovered faster from other deep recessions, including the savings and loan collapse of the early 1990s. The difference is that the government pursued supply-side policies, and in the case of S&Ls rapidly cleaned up the bad assets and didn’t layer on a new wave of regulation.
Faster growth is possible, but it will take better policies. The reason even Donald Trumpmay have a chance in November is because most Americans don’t want to accept a 1% or 2% growth future.
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