Category Archives: Politics
Economy Not Sheltering in Place
The economy isn’t sheltering in place. It’s heading down. Fast.
Goldman Sachs forecasts 15% unemployment and a 34% decline in GDP in the second quarter. And the stock market just finished its worst quarter since 2008.
Goldman Sachs is still predicting a “V-shape” recovery, however, meaning the steep drop-off will lead to a bigger bounce of 19 percent in the third quarter.
The Hill
Economy Not Sheltering
The election is seven months away. Can Trump pull the economy out of its Corona nose dive by then?
Scott Brennan, an Iowa Democratic National Committee member and a former state party chairman, said, “If the economy pops back … it’s hard to know what people are going to think.”
Politico
Senate Stock Market Tycoons
White House and Senate agreed to a $2 trillion stimulus deal for the economy. And the economy likes it. The Dow shot up 11% for its best day since 1933.
Speaking of stocks and Senators, some senators dumped stocks just before Corona virus market meltdown.
Senate Stock Market Tycoons
Here’s Professor Jonathan Turley writing in The Hill:
Senators Richard Burr, Kelly Loeffler, James Inhofe, and Dianne Feinstein together are responsible for as much as $11 million in recent stock sales. It turns out that many lawmakers become market investment geniuses after they enter Congress. A University of Memphis study found that 75 percent of randomly selected members had made “stock transactions that directly coincided with legislative activity.” A Georgia State University study noted that, from 1993 to 1998, senators beat the stock market by 12 points with their portfolios and outperformed “corporate insiders” by 8 points.
Dr. Fauci Protects You and the Rest of Us
Dr. Anthony Fauci is director of the National Institute of Allergy and Infectious Diseases. And he’s sheltering in place in your TV set.
From that perch he protects us from the COVID-19 virus, Novel Corona virus, or Wuhan Bat Flu (if you want to piss off CNN and Chinese President Xi).
Dr. Fauci wants to flatten the curve of the virus. What does that mean? He says it will be “several weeks” before we can leave our rooms.
Biden not Senile During Debate with Sanders
Joe Biden has a hairy leg up on Bernie Sanders for the Democratic nomination. If he can reassure voters he’s not senile.
The two members of the COVID-19 high risk set engaged in debate Sunday night.
Joe Biden, the 77 year old hero of the hazy center left establishment, took on 78 year old grumpy socialist Bernie Sanders. At a safe social distance, of course, and in front of no audience.
Biden surprised me in 2012 when he schooled Paul Ryan in a vice presidential debate. But he hasn’t aged gracefully and I thought Bernie would wipe the floor with him on Sunday. Except, I forgot that Sanders was highly likely to lead with his chin on “Medicare for All.” Which he did.
When Bernie griped that America was ill prepared for the Corona Pandemic because “We’ve got thousands of private insurance plans. Joe didn’t miss a beat. He pointed out that Italy has a single payer system and is way worse off than we are. So far.
Biden Not Senile
Vox says Biden “delivered his first coherent campaign message on Sunday night:”
“People are looking for results, not a revolution.”
Sleepy Joe, Senile Joe or Super Joe?
The party has greased the skids for Sleepy Joe, Senile Joe or Super Joe, depending on your point of view.
Here’s the Real Clear Politics Poll average half an hour before tonight’s debate.
