The long con is, Republicans know that when taxes have to be raised to pay for this disaster, it’ll be a Democratic president calling for the increases.
This is so dangerous … we will have no leverage to get out of a recession. The 1.5 trillion debt over 10 years is based on a sustained higher GDP which most independent economists (elitist experts must be shunned) are very skeptical about it in the long term. The majority of Americans don’t want the changes … but congress is gambling on the positive effects occurring before the next two elections.
@superposition…the additional debt load is stupid, of course. But the bigger issue that lurks out there is the increase in the money supply. And it’s not only the Fed, it’s the BOJ and the ECB as well. They were slower on the uptake than President Obama to implement an appropriate fiscal stimulus in 2009, are still expanding their balance sheets. The Fed will increase interest rates now, and sell off some of their holdings—probably triggering an inverted swap/yield curves. Who knows when the curves will invert, but the equity markets will swoon.
When you add the loss of jobs due to automation, the social consequences of the next crash could be severe. Consider as an example that 600,000 oilfield roustabouts have lost their jobs in less than 2 years due to automated drilling and drilling platform computers that “learn” as they go. And, this while the rig count has skyrocketed. Fewer jobs, more productivity. McKinsey recently published an extensive report on the topic of job losses due to automation. It’s fascinating and scary.
While many, including myself, thought the increases in money supply would lead to inflation, it hasn’t happened. I think it’s the time scale involved. The inflated central bank balance sheets are unprecedented in magnitude, and it will take longer than anyone originally figured to unwind. But once it does, watch out! Right now, business is still good, the equity markets like the tax bill, and the party continues.
But make no mistake, ultimately we have to deal with these staggering numbers. The tax bill is stupid, ignorant, misguided, Ill-conceived, and counterproductive. It expands the deficit, adds to the debt, increases economic inequality, foments potential social unrest, and has practically no positive attributes. Yes, corporations “might” grow a little faster, but at what cost?
Giving pollution to the middle class while taking those tax cuts from the guy to give to the rich. Santa Trump will come in your house, take all your presents, break your tree, blame you and leave with your leftovers. 30% of the country want this to be the new Christmas forever!
Once government can suppress access to information, you can look forward to the suppression of all other freedoms. How will you ever know when they repeal the Civil Rights bill. They will block access to every informational outlet. After that, it’s open season on your civil rights. People will start disappearing for speaking out against the government. People will start disappearing because they are not white. People will start disappearing because they have the wrong religion. People will start disappearing because they have the wrong initial (** only an R will be acceptable"") on their voter registration cards. Trump’s heroes are all Dictators in their own countries. He wants to have that power, With a lifetime term as dictator in the Oval Office, indefinitely and forever, our Supreme ruler with the complete and total control that a dictatorship would confer upon him.
This is one of those splendid occasions where a cartoonist does a much better job of integrating complex concepts than an expert writing pages of learned text.
Start kissing your pensions good bye Republicans, your Social Security,Medicare, and don’t be surprised in about 3 years when this administration blames it on someone else.
If the Democrats regain control of the government, I hope we’ll be just as diligent in fighting against Trumpite policies – coming from Democrats. Obama worked with Republicans to extend the Bush tax cuts, and in contrast to many of his other environmental actions, was a long-time proponent of “clean coal”.
Dtroutma over 6 years ago
That’s as clean as it gets, folks.
Walrus Gumbo Premium Member over 6 years ago
Nothing clean about this Santa!
Ontman over 6 years ago
Like he’s going to do ANY heavy lifting.
lopaka over 6 years ago
A sack of s with a sack of s
Radish the wordsmith over 6 years ago
Pig Republicans are destroying the earth.
WaitingMan over 6 years ago
The long con is, Republicans know that when taxes have to be raised to pay for this disaster, it’ll be a Democratic president calling for the increases.
superposition over 6 years ago
This is so dangerous … we will have no leverage to get out of a recession. The 1.5 trillion debt over 10 years is based on a sustained higher GDP which most independent economists (elitist experts must be shunned) are very skeptical about it in the long term. The majority of Americans don’t want the changes … but congress is gambling on the positive effects occurring before the next two elections.
twclix over 6 years ago
@superposition…the additional debt load is stupid, of course. But the bigger issue that lurks out there is the increase in the money supply. And it’s not only the Fed, it’s the BOJ and the ECB as well. They were slower on the uptake than President Obama to implement an appropriate fiscal stimulus in 2009, are still expanding their balance sheets. The Fed will increase interest rates now, and sell off some of their holdings—probably triggering an inverted swap/yield curves. Who knows when the curves will invert, but the equity markets will swoon.
When you add the loss of jobs due to automation, the social consequences of the next crash could be severe. Consider as an example that 600,000 oilfield roustabouts have lost their jobs in less than 2 years due to automated drilling and drilling platform computers that “learn” as they go. And, this while the rig count has skyrocketed. Fewer jobs, more productivity. McKinsey recently published an extensive report on the topic of job losses due to automation. It’s fascinating and scary.
While many, including myself, thought the increases in money supply would lead to inflation, it hasn’t happened. I think it’s the time scale involved. The inflated central bank balance sheets are unprecedented in magnitude, and it will take longer than anyone originally figured to unwind. But once it does, watch out! Right now, business is still good, the equity markets like the tax bill, and the party continues.
But make no mistake, ultimately we have to deal with these staggering numbers. The tax bill is stupid, ignorant, misguided, Ill-conceived, and counterproductive. It expands the deficit, adds to the debt, increases economic inequality, foments potential social unrest, and has practically no positive attributes. Yes, corporations “might” grow a little faster, but at what cost?
imagenesis over 6 years ago
America got its Trampus! I suspect a few folks will get my meaning.
Mr. Blawt over 6 years ago
Giving pollution to the middle class while taking those tax cuts from the guy to give to the rich. Santa Trump will come in your house, take all your presents, break your tree, blame you and leave with your leftovers. 30% of the country want this to be the new Christmas forever!
Sadandconfused9 over 6 years ago
Once government can suppress access to information, you can look forward to the suppression of all other freedoms. How will you ever know when they repeal the Civil Rights bill. They will block access to every informational outlet. After that, it’s open season on your civil rights. People will start disappearing for speaking out against the government. People will start disappearing because they are not white. People will start disappearing because they have the wrong religion. People will start disappearing because they have the wrong initial (** only an R will be acceptable"") on their voter registration cards. Trump’s heroes are all Dictators in their own countries. He wants to have that power, With a lifetime term as dictator in the Oval Office, indefinitely and forever, our Supreme ruler with the complete and total control that a dictatorship would confer upon him.
Daniel Pinkel Premium Member over 6 years ago
This is one of those splendid occasions where a cartoonist does a much better job of integrating complex concepts than an expert writing pages of learned text.
ahab over 6 years ago
Start kissing your pensions good bye Republicans, your Social Security,Medicare, and don’t be surprised in about 3 years when this administration blames it on someone else.
Cerabooge over 6 years ago
If the Democrats regain control of the government, I hope we’ll be just as diligent in fighting against Trumpite policies – coming from Democrats. Obama worked with Republicans to extend the Bush tax cuts, and in contrast to many of his other environmental actions, was a long-time proponent of “clean coal”.