18
   

Monitoring Biden and other Contemporary Events

 
 
Walter Hinteler
 
  2  
Reply Thu 29 Aug, 2024 11:04 am
@Frank Apisa,
Quote:
The Army on Thursday defended a staff member at Arlington National Cemetery who found herself in a brief confrontation with two men working for the Trump campaign, saying in a statement that she “acted with professionalism” during the encounter and that her reputation has been “unfairly attacked” by the former president’s representatives.

The woman, whom Army officials have requested remain unidentified due to concerns for her safety, sought to restrict photography by the Trump campaign in accordance with federal regulations barring partisan activity at the cemetery, the final resting place of more than 400,000 U.S. troops, veterans and family members. Former president Donald Trump was there to mark the third anniversary of a suicide bombing during the evacuation of Afghanistan that killed 13 U.S. troops, and the families of two of those service members had invited him to accompany them to their loved one’s graves.

But cemetery staff had laid out guidelines in advance of the visit that made clear there was to be no official photography during a graveside visit in Section 60, a 14-acre plot where many veterans of recent wars are buried. After the employee sought to reinforce those guidelines, she was “abruptly pushed aside” by the people in Trump’s entourage, officials said in the statement.

The confrontation prompted the woman to file a report with law enforcement, but officials said she later decided not to press charges. “Therefore,” the statement says, “the Army considers this matter closed.”

The identities of the two campaign employees alleged to be involved have not been disclosed.

The Pentagon did not want to prevent the former president from attending Monday’s ceremony while he runs for office, defense officials familiar with the matter said, but it had been unambiguous with Trump’s campaign about its intent to enforce a federal law that states: “Memorial services and ceremonies at Army National Military Cemeteries will not include partisan political activities.”
[...]
After news of the incident was first reported by NPR on Tuesday night, Trump campaign spokesman Steven Cheung alleged without evidence that the cemetery employee had suffered a “mental health episode,” and Trump co-campaign manager Chris LaCivita called her a “despicable individual,” slights the Army addressed head-on in its statement Thursday.

“This incident was unfortunate, and it is also unfortunate that the ANC employee and her professionalism has been unfairly attacked,” the Army said. “ANC is a national shrine to the honored dead of the Armed Forces, and its dedicated staff will continue to ensure public ceremonies are conducted with the dignity and respect the nation’s fallen deserve.”
WP
Frank Apisa
 
  3  
Reply Thu 29 Aug, 2024 11:25 am
@Walter Hinteler,
Thank you, Walter.

There is no depth to which Trump and his people will not sink...and then attempt to sink lower.

They are an abomination to decent governance.
izzythepush
 
  4  
Reply Thu 29 Aug, 2024 11:46 am
@Frank Apisa,
Maybe he thought it was justified after he was told ANC stood for African National Congress.

Is nothing sacred, not even the resting places of fallen soldiers?
thack45
 
  2  
Reply Thu 29 Aug, 2024 01:15 pm
@hightor,
Quote:
In an interview with television personality Dr. Phil that aired last night, Trump suggested that Democrats in California each got seven ballots and that he would win in the state if Jesus Christ counted the votes


From The Daily Beast

Quote:
“If Jesus Christ came down and was the vote counter, I would win California, OK?” Trump said. “In other words, if we had an honest vote counter, a really honest vote counter—I do great with Hispanics, great, I mean at a level no Republican has ever done—but if we had an honest vote counter, I would win California.”

Dr. Phil, sounding surprised, replied: “You think so?”

“Oh I think so,” Trump said. “I see it. I go around California, they have Trumps signs all over the place...It’s a very dishonest [state], everything is mail-in. They send out 38 million ballots, I think it is,” Trump continued, forging ahead into a monologue about how California is a dishonest system.

“Any time you have a mail-in ballot, you’re going to have massive fraud,” he added.


First, if Jesus "came down" to the US, and wasn't doing his magic (or maybe even if he was...), the Republican Party would have him back on the cross in a month. But that's just something I like to think sometimes to amuse myself.

That aside, Trump is saying, "I see it. I go around California, they have Trumps signs all over the place" to insist that there is evidence for his case that states are cooking the books (not burning, mind.)

The same old hangups, the same stale grievances and the same anecdotal evidence aren't so compelling in their own right. But also consider that when Trump says "I see it", there are teams of people carefully working to ensure precisely what it is that Trump sees – something else that isn't new.

But there are new iterations of the same old same old, like this one, demonstrating what Trump does "see" and why he might see it:

Quote:
Trump Camp Spends Tens of Thousands to Air Ads In and Around Mar-a-Lago

Florida’s not at risk. But staffers are risking anger from the boss (and some donors) if he doesn’t see his own ads.
link



Finally, circling back to Trump's interview with the esteemed Dr Phil, and relating to my comment yesterday about Trump's propensity to surround himself with terrible people, the universally revered doctor presented Trump with a very sensible and responsible question: "I’m not saying that they wanted you to get shot, but do you think it was okay with them if you did?"
0 Replies
 
thack45
 
  2  
Reply Thu 29 Aug, 2024 01:29 pm
@izzythepush,
Nothing's been sacred here since around the Tea Party years. Now, there's something like a layering, or supersaturation maybe, of insulting behavior – like the how Trump's stunt at Arlington National Cemetery was offensive in at least three different ways.

Sometimes I wonder, as GOPers supposedly want Trump to avoid damage by staying on message (very reminiscent of 2016), if the intent isn't to elicit an outraged reaction. The marmish, finger-wagging liberals that are all over the internet scolding people for acting terribly are rocket fuel for more than Trump's super fans.
0 Replies
 
hightor
 
  4  
Reply Fri 30 Aug, 2024 03:10 am
Quote:
And now the U.S. Army has weighed in on the scandal surrounding Trump’s visit to Arlington National Cemetery for a campaign photo op, after which his team shared a campaign video it had filmed. The Army said that the cemetery hosts almost 3,000 public wreath-laying ceremonies a year without incident and that Trump and his staff “were made aware of federal laws, Army regulations and [Department of Defense] policies, which clearly prohibit political activities on cemetery grounds.”

It went on to say that a cemetery employee “who attempted to ensure adherence to these rules was abruptly pushed aside…. This incident was unfortunate, and it is also unfortunate that the… employee and her professionalism has been unfairly attacked. [Arlington National Cemetery] is a national shrine to the honored dead of the Armed Forces, and its dedicated staff will continue to ensure public ceremonies are conducted with the dignity and respect the nation’s fallen deserve.”

“I don’t think I can adequately explain what a massive deal it is for the Army to make a statement like this,” political writer and veteran Allison Gill of Mueller, She Wrote, noted. “The Pentagon avoids statements like this at all costs. But a draft dodging traitor decided to lie about our armed forces staff, so they went to paper.”

The deputy Pentagon press secretary Sabrina Singh said the Department of Defense is “aware of the statement that the Army issued, and we support what the Army said.” Hours later, Trump campaign manager Chris LaCivita reposted the offending video on X and, tagging the official account for Army Secretary Christine Wormuth, said he was “hoping to trigger the hacks” in her office.

In Talking Points Memo, Josh Marshall reported that the Trump campaign’s plan was to lay a wreath at Arlington National Cemetery to honor the 13 members of the U.S. military killed in the suicide bombing during the evacuation of Kabul, Afghanistan, in August 2021. They intended to film the event and then attack Vice President Kamala Harris and President Joe Biden for not “showing up” for the event, which they intended to portray as an “established memorial.”

Another major story from yesterday is that the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has finalized two rules that will work to stop corruption and money laundering in U.S. residential real estate and in private investment.

This is a big deal. As scholar of kleptocracies Casey Michel put it: “This is a massive, massive deal in the world of counter-kleptocracy—the U.S. is finally ending the gargantuan anti–money laundering loopholes for real estate, private equity, hedge funds, and more. Can't overstate how important this is. What a feat.”

​​After the collapse of the Soviet Union in late 1991, the oligarchs who rose to power in the former Soviet republics looked to park their illicit money in western democracies, where the rule of law would protect their investments. Once invested in the United States, they favored the Republicans, who focused on the protection of wealth rather than social services. For their part, Republican politicians focused on spreading capitalism rather than democracy, arguing that the two went hand in hand.

The financial deregulation that made the U.S. a good bet for oligarchs to launder money got a boost when, shortly after the September 11, 2001, attacks, Congress passed the USA PATRIOT Act to address the threat of terrorism. The law took on money laundering and the illicit funding of terrorism, requiring financial institutions to inspect large sums of money passing through them. But the Financial Crimes Enforcement Network (FinCEN) exempted many real estate deals from the new regulations.

The United States became one of the money-laundering capitals of the world, with hundreds of billions of dollars laundered in the U.S. every year.

In 2011 the international movement of illicit money led then–FBI director Robert Mueller to tell the Citizens Crime Commission of New York City that globalization and technology had changed the nature of organized crime. International enterprises, he said, “are running multi-national, multi-billion dollar schemes from start to finish…. They may be former members of nation-state governments, security services, or the military…. These criminal enterprises are making billions of dollars from human trafficking, health care fraud, computer intrusions, and copyright infringement. They are cornering the market on natural gas, oil, and precious metals, and selling to the highest bidder…. These groups may infiltrate our businesses. They may provide logistical support to hostile foreign powers. They may try to manipulate those at the highest levels of government. Indeed, these so-called ‘iron triangles’ of organized criminals, corrupt government officials, and business leaders pose a significant national security threat.”

Congress addressed this threat in 2021 by including the Corporate Transparency Act in the National Defense Authorization Act. It undercut shell companies and money laundering by requiring the owners of any company that is not otherwise overseen by the federal government (by filing taxes, for example, or through close regulation) to file with FinCEN a report identifying (by name, birth date, address, and an identifying number) each person associated with the company who either owns 25% or more of it or exercised substantial control over it. The measure also increased penalties for money laundering and streamlined cooperation between banks and foreign law enforcement authorities. That act went into effect on January 1, 2024.

Meanwhile, the Biden administration made fighting corruption a centerpiece of its attempt to shore up democracy both at home and abroad. In June 2021, President Biden declared the fight against corruption a core U.S. national security interest. “Corruption threatens United States national security, economic equity, global anti-poverty and development efforts, and democracy itself,” he wrote. “But by effectively preventing and countering corruption and demonstrating the advantages of transparent and accountable governance, we can secure a critical advantage for the United States and other democracies.”

In March 2023 the Treasury told Congress that “[m]oney laundering perpetrated by the Government of the Russian Federation (GOR), Russian [state-owned enterprises], Russian organized crime, and Russian elites poses a significant threat to the national security of the United States and the integrity of the international financial system,” and it outlined the ways in which it had been trying to combat that corruption.

Now FinCEN has firmed up rules to add anti-money-laundering safeguards to private real estate and private investment. They will require certain industry professionals to report information to FinCEN about cash transfers of residential real estate to a legal entity or trust, transactions that “present a high illicit finance risk,” FinCEN wrote. “The rule will increase transparency, limit the ability of illicit actors to anonymously launder illicit proceeds through the American housing market, and bolster law enforcement investigative efforts.” The real estate rule will go into effect on December 1, 2025.

The rule about investment advisors will make the obligation to report suspicious financial activity apply to certain financial advisors. This rule will go into effect on January 1, 2026.

“The Treasury Department has been hard at work to disrupt attempts to use the United States to hide and launder ill-gotten gains,” Secretary of the Treasury Janet L. Yellen explained. “That includes by addressing our biggest regulatory deficiencies, including through these two new rules that close critical loopholes in the U.S. financial system that bad actors use to facilitate serious crimes like corruption, narcotrafficking, and fraud. These steps will make it harder for criminals to exploit our strong residential real estate and investment adviser sectors.”

“I applaud FinCEN’s commonsense efforts to prevent corrupt actors from using the American residential real estate and private investment sectors as safe havens for hiding dirty money,” Senator Sheldon Whitehouse (D-RI) said in a statement. “For too long, vulnerabilities in the system have attracted kleptocrats, cartels, and criminals looking to stow away their ill-gotten gains. I hope FinCEN will apply similar safeguards to commercial real estate, as well as due diligence requirements to investment advisors. These are all welcome steps toward keeping our country and financial system safe and secure for the American people—not those who wish to abuse it.”

The Commission on Security and Cooperation in Europe (also known as the Helsinki Commission) brought the history of modern money laundering full circle. It said: “We welcome the Treasury Department's decision to close off crucial pathways for Russian money laundering and sanctions evasion through real estate and private equity.”

hcr
0 Replies
 
tsarstepan
 
  2  
Reply Fri 30 Aug, 2024 11:45 am
The Democratic Party is the only party to trust when it comes to the US economy.

Facts matter.
Lash
 
  -3  
Reply Fri 30 Aug, 2024 07:50 pm
@tsarstepan,
Jesus Christ, it’s the worst economy in my lifetime.
neptuneblue
 
  2  
Reply Fri 30 Aug, 2024 08:21 pm
@Lash,
I didn't realize economies were in Jesus Christ's repertoire. Huh, learn something new every day.

So, um, you think Jesus wouldn't mind springing for some groceries for me? Since you're sure he's in the loop and all...
0 Replies
 
Builder
 
  -3  
Reply Sat 31 Aug, 2024 01:41 am
@Lash,
Quote:
Jesus Christ, it’s the worst economy in my lifetime.


The thing is, when the crooks cranking the dials own the mass media, and the govt, they can say whatever they want about the economy, and make out like it's all going to plan. How cool is that? Or NOT?
hightor
 
  2  
Reply Sat 31 Aug, 2024 02:55 am
@Builder,
Watch out for fire ants.

Good night, Builder.
0 Replies
 
hightor
 
  4  
Reply Sat 31 Aug, 2024 02:59 am
Quote:
Trump and the MAGA movement garnered power through performances that projected dominance and cowed media and opponents into silence. Rather than disqualifying him from the highest office in the United States, Trump’s mocking of a disabled reporter, bragging about assaulting women, and calling immigrants rapists and criminals seemed to demonstrate his dominance and strengthen him with his base. In July the Republican National Convention celebrated that performance with a deliberate appropriation of the themes of professional wrestling, including a display by an actual professional wrestler.

Their plan for winning the 2024 election seems to have been to put forward more of the same.

But the national mood appears to be changing. President Joe Biden’s decision to decline the Democratic nomination for president opened the way for the Democrats to launch a new, younger, more vibrant vision for the country.

Democratic nominee Vice President Kamala Harris and her running mate, Minnesota governor Tim Walz, have promised to continue, and even to expand slightly, the programs that under the Biden-Harris administration have started the process of rebuilding the country’s infrastructure, bringing back manufacturing, and investing in industries to combat climate change. As the country did before 1981, they are promising to continue to focus on supporting a strong middle class rather than those at the top of the economy.

Harris and Walz are building on this economic base to recenter the United States government on the idea of community. They have deliberately rejected the identity politics that Trump used so effectively to assert his dominance and have instead emphasized that they see the country not as a community defined by winners and losers, but as one in which everyone has value and should have the same opportunities for success.

Last night, CNN’s Dana Bash asked Harris, whose mother immigrated to the U.S. from India and whose father immigrated from Jamaica, to respond to Trump’s suggestion that she “happened to turn Black” for political advantage, “questioning a core part of your identity.” Harris responded: “Same old, tired playbook. Next question, please,” and she laughed. “That’s it?” Bash asked. “That’s it,” Harris answered.

Harris’s refusal to accept the MAGA terms of engagement, along with the exuberant support for Harris and Walz, has Trump, Republican vice presidential candidate J.D. Vance, and MAGA Republicans reeling. That, in turn, has made them seem vulnerable, and that vulnerability is now opening up room for pundits from a range of outlets to challenge them. They seem to be losing the ability to control the public conversation by asserting dominance.

This change has been evident this week in the response to Trump’s visit to Arlington National Cemetery with the family of a soldier who died in the U.S. withdrawal from Afghanistan three years ago for campaign videos and photos attacking Harris, despite the fact that federal law prohibits campaign activities in the cemetery, in what is widely considered hallowed ground. The moment almost passed unnoticed, as it likely would have in the past, but Esquire’s Charles Pierce asked in his blog: “How The Hell Was Trump Allowed To Use Arlington National Cemetery As A Campaign Prop?”

Led by NPR, different outlets begin to dig into the story, and Trump, Vance, Trump’s spokesperson, and Trump’s campaign manager Chris LaCivita all tried to brush off their lawlessness with their usual rhetoric. Trump tried to change the subject to say he was being unfairly attacked for supporting a military family. Vance tried to suggest that Harris should have attended the private ceremony and that for criticizing it she should “go to hell,” although she hadn’t commented on it. The spokesperson suggested that the female cemetery official who tried to stop them was experiencing a “mental health episode,” and LaCivita, a leading figure in the Swift Boat veterans’ attacks on John Kerry in 2004, reposted an offending video to “trigger” Army officials, he said.

It hasn’t flown. Today, MSNBC’s Dasha Burns asked Trump directly: “Should your campaign have put out those videos and photos?” Trump answered: “Well, we have a lot of people. You know, we have people, TikTok people, you know we’re leading the Internet. That was the other thing. We’re so far above her on the Internet….” Burns interrupted and followed up: “But on that hallowed ground, should they have put out the images…?” Trump said: “Well I don’t know what the rules and regulations are, I don’t know who did it, and, I, it could have been them. It could have been the parents. It could have been somebody….”

Burns interrupted again: “It was your campaign’s TikTok that put out the video.” Trump answered: "I really don't know anything about it. All I do is I stood there and I said, 'If you'd like to have a picture, we can have a picture.' If somebody did it; this was a setup by the people in the administration that, 'Oh, Trump is coming to Arlington, that looks so bad for us.’"

In the days since Biden stepped out of contention, Trump has been flailing—often complaining that it is “unfair” that Biden isn’t his opponent any longer—but his behavior has rocketed downhill since the new grand jury delivered a new indictment revising the four charges against him for trying to overturn the results of the 2020 presidential election and install himself in power. Karen Tumulty wrote in the Washington Post today that Trump is “spiraling,” noting that in the space of 24 hours he posted about Harris engaging in a sex act, promoted QAnon slogans, and called for prison for his political opponents.

Tumulty notes that Trump’s team has been trying to get him to focus on the issues voters care about, but that after he “listlessly delivers some lines from the teleprompter,” he “gets bored and begins recycling the rants from his rallies.” Harris has stayed silent about his behavior, Tumulty says a campaign staffer told her, because “Why would we step in this man’s way?” The Harris campaign wants microphones left on throughout the planned September 10 debate, expecting that Trump will not be able to contain the rants that used to serve his interests but now turn voters off.

To Vance is left the job of trying to clean up after Trump, but he’s not a skilled politician. Asked by John Berman about Trump’s social media attacks, Vance suggested that Trump was bringing “fun” and “jokes” to politics to “lift people up.” But observers on social media noted that claiming that attacks are “jokes” is a key part of asserting dominance.

Vance himself went after Harris by saying that he had an early version of Harris’s CNN interview and then posting an old meme of a young Miss Teen USA who appeared to panic when answering a question and produced a nonsensical answer. When Berman told him that the young woman contemplated self-harm after becoming a national joke and asked if he would like to apologize for bringing up that old video, Vance declined to apologize, suggested we should “laugh at ourselves,” and repeated that we should “try to have some fun in politics.”

Vance got into deeper trouble, though, when asked to explain Trump’s statement when he told Dasha Burns that he opposes Florida’s six-week abortion ban. This November, Floridians will have to vote yes or no on a constitutional amendment that would put abortion rights similar to those of Roe v. Wade into the state constitution.

Trump’s opposition to that amendment reflects the political reality that abortion bans are unpopular even in Republican-dominated states, but the MAGA base is fervently antiabortion. “That ‘thump thump’ you just heard is the entire pro-life movement going under the bus,” one wrote.

A campaign spokesperson promptly tried to walk the statement back by saying that Trump “has not yet said how he will vote on the ballot initiative in Florida,” which Vance reiterated on CNN. When Berman pressed him on it, though, Vance appeared to lose the ability to hear the question, suggesting the feed was bad.

This afternoon, Trump announced he will side with the antiabortion activists and vote against the amendment to the Florida constitution that would restore the rights that were in Roe v. Wade. Harris and Walz, meanwhile, have announced a national bus tour to highlight reproductive freedom. It will start in Palm Beach, Florida, where the Trump Organization’s Mar-a-Lago property is located.

Today, lawyers for Ruby Freeman and Shaye Moss, the election workers Trump ally Rudy Giuliani defamed by accusing them of fraud in the 2020 election, asked a federal court to enforce the judgment that awarded them $146 million. They have asked for a court order requiring Giuliani to turn over his properties in New York and Florida, his luxury car, and his personal valuables including three New York Yankees World Series rings. Giuliani’s spokesperson accused the women of bullying Giuliani.

The Lincoln Project, which believes that needling Trump is the best way to rattle him, today released a video that portrays Trump as a predatory animal who is old, past his prime, and abandoned by his pack. Rather than engaging in his final hunt, he has found himself the prey. The voice-over intones: “The circle of life eventually closes on all things.”

hcr
0 Replies
 
Lash
 
  -2  
Reply Sat 31 Aug, 2024 07:49 am
@Builder,
Exactly. I’ve been astonished by how complicit the media is. They’ll say anything—no matter that it’s demonstrably false.

Democracy is impossible without free speech and an objective media.

Which is why we’ve been stripped of all three.
engineer
 
  6  
Reply Sat 31 Aug, 2024 10:23 am
@Lash,
Lash wrote:

Jesus Christ, it’s the worst economy in my lifetime.

Kind of stunned that people say stuff like this. Here is a brief synopsis of the last 45 years or so, basically my adult life. (The grades are my opinion)

Late 70's (President Jimmy Carter)
- The economy is in terrible shape. Vietnam vets returned only to find that the once plentiful manufacturing jobs were moving overseas and foreign countries could make high quality products for lower costs. Inflation is over 10%, so are interest rates. Mortgages rates in '80/'81 are at 15%. Real estate prices are dropping like a rock since no one can afford to buy anything leading to the savings and loan crisis. Add in double digit unemployment and Americans are really hurting.
Grade F-

80's (President Ronald Reagan)
- The Fed's aggressive interest rates start to tame inflation, but the business world has been spooked by years of high interest rates. Fueled by some needed tax cuts, money flows into the markets allowing businesses to expand, employment rates improve, things aren't amazing but not so terrible. The government steps in to stabilize the savings and loan industry.
The stock market soars. I buy my first car in '85 (with the help of my dad) at 12% interest. Pretty much like anytime the government borrows a lot of money to fund tax cuts, the stock market overheats and in '87 crashes. The economy starts to slow again.
Grade A

Late 80's, early 90's (President George H Bush)
- The economy is solid at the start but slowing. The first Gulf War starts and is a huge success militarily. Bush agrees to a small tax rate increase both to pay for the war and to reduce the growing deficit. He is crucified by his party and faces a tough primary challenge because of it. Long term interest rates are still around 10%. My wife and I buy our first house in '91 for $115k at 9.125% interest. Towards the end of Bush's administration, the economy goes into recession hurting his reelection.
Grade B (I know some will think I'm lenient here.)

90's (President Bill Clinton)
- Clinton brings in all his brainy friends who are pretty stupid in their personal lives (leading to all sorts of investigations) but pretty solid on how to run the economy. Employment soars, interest rates slowly creep down. I refinance my home at 7& and then again at 4.5%. By 2000, the US government is running a surplus and the Treasury Department puts out an internal white paper projecting the the US debt will be entirely gone by 2012. (This would have significant international repercussions since US debt is a basis of the international monetary system.)
Grade A+

00's (President George W Bush)
- Bush comes in and immediately passes two large tax cuts aimed at the upper class, trying to replicate the Reagan tax cuts but in a completely different economy. The deficit goes negative again and the stock market really heats up with the extra money. There is so much money floating around the stock market that lending standards start to drop and real estate speculation increases. Then comes 9-11. The economy freaks out and the country goes to war. Instead of asking the country to step up and pay more taxes to support the war, Bush pushes through another tax cut, funding the entire war through borrowing. Then he starts a second war, still borrowing like there is no tomorrow. All this borrowing is really heating up the financial markets. New computer driven derivatives are allowing banks to speculate on real estate and invest with huge leverage. All of it comes crashing down in December of 2007 leading to the Great Recession, the longest and deepest recession since WWII. The government borrows hard to stabilize the financial markets.
(Grade F-)

Late 00's, early 10's (President Barack Obama)
- Obama inherits a complete disaster with the international financial system on the brink of total collapse. The government again borrows hard and succeeds in stabilizing the US system. Then, with very careful management, the economy goes on a steady rise for over 7 years with no recessions. Obama repeals part of Bush's third tax rate. Banks and politicians say he's going to tank the economy, but nothing happens other than the deficit drops (although it is still fairly large after all the borrowing to stave off financial meltdown). Obama leaves office with an incredibly robust economy.
Grade A+

Late 10's. (President Donald Trump)
- Trump inherits a strong economy and immediately goes for tax cuts despite the still large deficit. The deficit balloons again and the stock market soars, but the economy is still very robust. The economy closes out the 2010's with no recession for the entire decade, the first time that has ever happened.
Money is so available that interest rates are extremely low and real estate speculation is rampant. Home prices explode as investors look for places to put all their spare money. My oldest son buys his first house for three times what I paid for mine, but at one third the interest rate meaning this his house payment is the same as mine was (but he's paying in cheaper 2020 dollars.) Then COVID. Everything is turned on its head. Everything gets inefficient, the economy goes into recession.
Grade B

20's (President Joe Biden)
- Biden inherits an economy in recession and a pandemic in progress, but as we come out of Covid, things bounce back. Demands soars as Americans release pent up demand, but international supply chains are still disrupted. Inflation rises up to 6-7% but salaries are also rising for the first time in a while. The Fed goes after interest rates and tames inflation, but mortgage rates are in the 6-7% range. Higher than the 2010's but not crushing. Economists at major banks across the country are unified in their opinions: we will have a recession. But the Bush administration threads a super fine needle, balancing interest rates and government support through the end of COVID. The recession never comes, shocking just about everyone. The economy generates jobs at a solid pace with unemployment in the 3-4% range, what economists consider "full employment". My middle two children buy homes in HCOL areas since their incomes have gone up faster than inflation but not all Americans can say that. Recently the Fed has started to lower rates now that inflation is under control.
Grade B+

The short of all of this:
- Biden has done a great job with the economy based on the deck he was dealt.
- Of the last six Presidents, the three Republicans have inherited a great economy and left with one in recession. The three Democrats have inherited an economy in recession and delivered great growth and employment.
- If you think Biden has presided over the worst economy in your lifetime, you must not be very old. Bush's Great Recession and Carter's double digit inflation and unemployment were truly terrible for many Americans.
hightor
 
  3  
Reply Sat 31 Aug, 2024 10:35 am
@engineer,
In 1980 I tried to by a house. Mortgage rates were near 13%. I was fortunate enough to close on a house with an assumable mortgage at a bargain rate – 9¼%.
0 Replies
 
bobsal u1553115
 
  4  
Reply Sat 31 Aug, 2024 11:05 am
@Lash,
You've lost your mind. Detroits worst years in the last twenty were when Trump was in charge. They can not keep up with orders. Housing starts are up. The economy is going gangbusters. There is no way in hell your life life is harder today than it was in 2018.
hightor
 
  3  
Reply Sat 31 Aug, 2024 12:11 pm
@bobsal u1553115,
Quote:
You've lost your mind.


That's what happens when people only listen to right-wing and crackpot media.
blatham
 
  3  
Reply Sat 31 Aug, 2024 08:52 pm
@engineer,
Quote:
@Lash,
Lash wrote:

Jesus Christ, it’s the worst economy in my lifetime.

Fer shur. Worse now than during the covid shutdowns. Worse now than after the stock market crash of 2008. Lash doesn't know what she's talking about. And, as usual, she just tosses out a claim she has picked up from her "information" sources and provides no supporting evidence for the claim. One could go so far as to label her, correctly, as a troll.

Here's data on

Here's [url=https://www.macrotrends.net/1319/dow-jones-100-year-historical-chart]the Dow Jones from 1915 to the present


Here's US economic growth compared to other G& nations

0 Replies
 
Builder
 
  -3  
Reply Sun 1 Sep, 2024 02:03 am
@Lash,
Quote:
Democracy is impossible without free speech and an objective media.


Found this AI version of the star-spangled banner in reverse.

https://scontent.fbne6-1.fna.fbcdn.net/v/t39.30808-6/457506443_10161419841788043_8466034575120239161_n.jpg?_nc_cat=102&ccb=1-7&_nc_sid=833d8c&_nc_ohc=o94WUw1vK2cQ7kNvgH9tDLH&_nc_ht=scontent.fbne6-1.fna&oh=00_AYA7x8cSP-8mCxYE0VXWFDgPadEwL14iHgxzpTAYKc435Q&oe=66D9FF1B
0 Replies
 
Lash
 
  0  
Reply Sun 1 Sep, 2024 11:46 am
@engineer,
I’m in semi-retirement, and working at a retail store to make ends meet because my retirement income isn’t enough to live in this economy.

Twelve other people with much worse physical ailments than mine at my workplace also have to work later into retirement than me—through pain, cancer, and other disabilities.

People I know at that job are struggling to pay for groceries and selling plasma to make ends meet.

Customers I talk to daily complain about skyrocketing prices for rent and groceries.

I pay three times the amount I used to for food.

None of your grades matter.
 

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