Low and slow…
Posted March 17, 2017on:
When I’m cooking, I’ve learned if you have the luxury of time, low and slow is the way to go. Earlier in my scotch-addled life, my friends told me of limbo contests where I physically went low and slow. And speaking of my scotch-addled life, low and slow pretty much described my dating habits.
Low and slow is neither the way to run the government nor is it the way to run the economy. It is inconceivable to imagine a budget lower in basic human services than what we saw this week.
Yesterday in watching Dick Prick Mick Mulvaney, the dust ruffle of crazy town, claim that cutting Meals on Wheels is the compassionate thing to do, I’m pretty much convinced we can’t go much lower. As we say around here, we are “next to the belly of a snake in a wagon rut.”
Obviously, Dolt 45 is as dumb as a box of hair mated with some orange zest and Adderall. He could care less what these crazy ideologues do as long as he can continue belching his lies in front of half-empty venues.
So why should he care? He’s got Mulvaney and anime-eyed granny-starver Paul Ryan to shovel the steaming dump Jim DeMint and the Heritage Foundation just took on the country. This budget, which will never pass, is nothing but the greatest hits from 1980s Heritage Foundation. Not even Reagan dared going this low.
When someone has no shame, there just is no limit to the depths they will sink. Given this first fifty days, it won’t be long before we are plumbing the depths of the Mariana Trench.
When it comes to slow things, the economy is troubling. About a year ago, I started paying attention to certain economic indicators believing Hillary was about to inherit a lethargic economy. There are disturbing indicators.
Here is a truism: Economic expansions never die from old age. The current expansion is seven and half-years old. That is long in the tooth.
Gallup surveys economic confidence and says it is at a historic high. The stock market is at a record high. The economy is still adding jobs. So why am I spending your time on the subject?
We are in a bubble. The confidence and stock market are anticipatory highs. It is not based in value. The highs are based upon a belief in massive Trumpanzee promised corporate tax cuts and the repatriation of $2.1 Trillion in offshore profits. Neither will be invested in expansion, but will be paid out in dividends or in stock buybacks. It will make the 1% even more one-percentier.
Unrelated to this economic giddiness, there are indicators screaming we are heading into another slowdown if not outright recession. Not to bore you, but just a few indicators:
- Employers are cutting back hours. We are seeing the highest percentage in the decline of hours since the 2008 recession.
- Tax receipts are down.
- Retailers are missing their earnings projections.
- Lending standards have tightened.
- Job growth at the S&P companies has gone negative.
All of these are warning signs of a slowing economy or impending recession. Any external event could hasten an economic retreat. Perhaps even monkeying around with one-sixth of the economy with an ill-conceived health care plan or a federal budget that would decimate hundreds of thousands of employees could precipitate it. Who knows?
I do know this: There are very few tricks left in the wheelhouse to combat recession. We will hear tax cuts from this bunch of Neanderthal MAGAbators, but as we have seen time and time again, sloganeering is not economic policy.
We are still paying for the last time we allowed this knuckle-dragging crowd to raid the Treasury with tax cuts, two wars, and unfunded benefit programs. Half of the national deficit is due to giving them the credit card and hoping for the best. Well, we know how that turned out.
Why do I think this is important enough to take your time this morning? From what I saw in the proposed budget, these people are unimaginative at best and stone-cold ignorant at worst. They are uncaring and vindictive. They are politically deaf. Power is a means to an end for them.
The choices represented in their budget were callous and heartless. If the worst happens, their response to an economic downturn will be likewise – callous, heartless, low, and slow. Human suffering will be but a minor inconvenience for a $2.1 Trillion payday. Daddy needs a new Gulfstream 650.
What’s on your mind today?
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