Politics

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2 days ago

I had a nice little exchange with Mr. Dukakis a few days ago. I told him he would have had my vote in 1988 if I was of voting age. I remember being really fired up about it. He got some bad press at the time because it came out that his wife was an alcoholic. How insignificant a story that would have been in 2016. I bet him and Romney with his binders full of women "scandal" fantasized about how squeaky clean they would have looked in a 2016 run.

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53 days ago

In Western countries, this has improved appreciably, but in China and India, they have yet to get a handle on waste management and air pollution. It's a big problem.

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53 days ago

The tax debate in the US is stuck in a time warp. They are discussing economic policy as it was in 1980 and not how it is today, especially in GOP circles. Today we have low inflation and interest rates, high margins and return on capital, way lower GDP growth, much higher industrial/corporate concentration, higher GINI, and higher deficits than we did pre-Reagan. It's a different world now with different needs. In the mid-20th century, demand-side stimulus held sway (with a major war in the middle). Supply side economics has been dominant since 1980.

At this moment, we are at an inflection point, which way will the pendulum swing? We'll probably end up moving more towards demand-side stimulus again, even if the GOP doesn't want it. Lower tax rates and lower interest rates has created excessively high deficits and weakened global supply chains because of a lack of capital expenditures. Companies find it more profitable to invest in financial gimmicks like stock buybacks over reinvesting it in production. It is getting to a crisis point; if there's a recession in the next few years, it could get very bad. It would likely signal though a sea change is fiscal and monetary policy.

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60 days ago

Now he's badmouthing Trump. Hypocrite would have been licking Trumps behind if he got a position under him.

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60 days ago

The only reason I'm against impeaching Trump is that this creep is his replacement.

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