Donald Trump is No Conservative

What happened to the conservative Republican Party?

“America vs. Socialism” was the theme of the Conservative Political Action Conference this past February. “One of the most serious challenges our countries face is the specter of socialism. It’s the wrecker of nations and the destroyer of societies,” Trump said during his 35-minute address to the General Assembly on 09/24/19. But times have changed and now Trump is the promoter of give aways and subsides.

Thanks to the coronavirus, the United States is heading into a recession. 26.4 million people have applied for unemployment insurance aid since the country has been shut down. More high unemployment numbers may be on the horizon. Trump’s solution to high unemployment and closed businesses was ask congress to spend enough money to help everyone and every company pay their bills.

$1200 to each adult and $500 to each minor is being given to every legal resident and $600 per week to every person laid off from their job in addition to each states standard unemployment benefit for up to four months.

Businesses are to receive low interest loans. Some with strings attached and some with no strings.

This is the best example of a form of socialism that I can imagine. Democrats are delighted to go along with the big spending. Bernie Sanders, an avowed Democratic Socialist, is seeing his ideas being instituted. Donald Trump said there will never be socialism in America has proven to be the person most responsible for fulfilling Sanders ideas.

For sure it is Keynesian economics. Keynesian economics is an economic theory of total spending in the economy and its effects on output and inflation. John Maynard Keynes advocated for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the Great Depression. Keynes argued that an interventionist government could help smooth out recessions by using fiscal policy to prop up aggregate demand. Strategic government spending could spur consumption and investment, argued Keynes, and help alleviate unemployment. Keynes’s theories gave rise to a new dominant paradigm in economic thought, which was subsequently dubbed Keynesian economics. While still popular, some have argued that Keynesian economics has provided a pseudo-scientific justification for short-sighted elected politicians to run fiscal deficits and accumulate massive levels of government debt.

Where is Peter Navarro and Larry Kudlow? If they are supporting Donald Trump actions now they have realized that John Keynes was right all along.

Thank goodness Donald Trump never heard of Milton Friedman.

President’s intelligence briefing book repeatedly cited virus threat

 

This is a disturbing report that was published in the Washington Post.  The entire report recites Donald Trump’s dealing with the coronavirus. The complete article is here The first 11 paragraphs are the most important and are posted, unabridged, here.  Trump is reported to be a big watcher of television.  If only the President’s Daily Briefing had been broadcast perhaps America’s response to the virus would have been different.

U.S. intelligence agencies issued warnings about the novel coronavirus in more than a dozen classified briefings prepared for President Trump in January and February, months during which he continued to play down the threat, according to current and former U.S. officials.

The repeated warnings were conveyed in issues of the President’s Daily Brief, a sensitive report that is produced before dawn each day and designed to call the president’s attention to the most significant global developments and security threats.

For weeks, the PDB — as the report is known — traced the virus’s spread around the globe, made clear that China was suppressing information about the contagion’s transmissibility and lethal toll, and raised the prospect of dire political and economic consequences.

But the alarms appear to have failed to register with the president, who routinely skips reading the PDB and has at times shown little patience for even the oral summary he takes two or three times per week, according to the officials, who spoke on the condition of anonymity to discuss classified material.

The advisories being relayed by U.S. spy agencies were part of a broader collection of worrisome signals that came during a period now regarded by many public health officials and other experts as a squandered opportunity to contain the outbreak.

As of Monday, more than 55,000 people in the United States had died of covid-19.

The frequency with which the coronavirus was mentioned in the PDB has not been previously reported, and U.S. officials said it reflected a level of attention comparable to periods when analysts have been tracking active terrorism threats, overseas conflicts or other rapidly developing security issues.

A White House spokesman disputed the characterization that Trump was slow to respond to the virus threat. “President Trump rose to fight this crisis head-on by taking early, aggressive historic action to protect the health, wealth and well-being of the American people,” said spokesman Hogan Gidley. “We will get through this difficult time and defeat this virus because of his decisive leadership.”

The Office of the Director of National Intelligence is responsible for the PDB. In response to questions about the repeated mentions of coronavirus, a DNI official said, “The detail of this is not true.” The official declined to explain or elaborate.

U.S. officials emphasized that the PDB references to the virus included comprehensive articles on aspects of the global outbreak, but also smaller digest items meant to keep Trump and senior administration officials updated on the course of the contagion. Versions of the PDB are also shared with Cabinet secretaries and other high-ranking U.S. officials.

One official said that by mid- to late January the coronavirus was being mentioned more frequently, either as one of the report’s core articles or in what is known as an “executive update,” and that it was almost certainly called to Trump’s attention orally.

The administration’s first major step to arrest the spread of the virus came in late January, when Trump restricted travel between the United States and China, where the virus is believed to have originated late last year.

Doctor Trump’s Idea to Disinfect Lungs Leaves Medical Experts Aghast

“I’M JUST HERE TO PRESENT IDEAS,” President DONALD TRUMP said to WaPo’s PHIL RUCKER when Phil posited, quite accurately, that “people tuning in to [the White House] briefings, they want to get information and guidance and want to know what to do. They’re not looking for rumors.”

Earlier in Thursday’s briefing a presentation about how disinfectants kill germs including the coronavirus Donald Trump followed up thanking the presenter Bill Bryan, an undersecretary at the Homeland Security Department and said “Is there a way we can do something like that by injection inside?” He said it would be “almost a cleaning. It gets in the lungs and does a tremendous number on the lungs.”

Doctors say that people should absolutely not use disinfectant in their lungs, or inhale or ingest it in any way. Bleach is a toxic chemical, and inhaling it could be damaging and dangerous.

“Inhaling chlorine bleach would be absolutely the worst thing for the lungs,” said John Balmes, a pulmonologist a Zuckerberg San Francisco General Hospital, and a professor of medicine at the University of California San Francisco. “The airway and lungs are not made to be exposed to even an aerosol of disinfectant.”

On Friday morning, the maker of Lysol and Dettol, Reckitt Benckiser Plc, issued a statement that “under no circumstance” should its disinfectant products be administered into the human body, through injection, ingestion or any other route.

Citing deaths, FDA issues warning against antimalarial drugs touted by Trump

Still, there are those who blindly respond to every word Donald Trump speaks. Emergency rooms need to prepare for another category of visitors.

Donald Trump is a Prevaricator

It is obvious to most of us that Donald Trump repeatedly stretches the truth and is a deceiver and trickster. What do you call someone who does that? The answer is prevaricator. He is Pinocchio live.

The Free Dictionary definition of prevaricator – a person who has lied or who lies repeatedly, liar, Beguiler, cheater, deceiver, trickster, slicker, cheat – someone who leads you to believe something that is not true.

But to be fair I decided to check Merriam-Webster that offered almost the same word for word definition but provided these synonyms

Synonyms for prevaricator

Hitler led the German people into a war because the sycophants were mesmerized. I fear the same thing can happen here in America.

Contradictions – The Great Manipulator

 

President Donald Trump and Vice President Mike Pence both called Georgia Gov. Brian Kemp on Tuesday night and expressed support and praise for the Republican’s move to reopen businesses in his state starting Friday, a source familiar with the call said. Trump later said the opposite — that he told Kemp he disagreed “strongly” with the decision.

Why would Trump do this?  If there is no resurgence of covid-19 he will claim that he was the wise one to recommend opening of all businesses.  If there is a resurgence of the disease he will say he warned governors not allow businesses to reopen.  He’ll deny he said anything that was contradictory.  His supporters will give him a pass for anything said that contradicts his words.  And he will get away with it!

Will the public remember these things at the ballot box in November?  If the economy is in a recession in November that might deny him a second term.  Then again his supporters seem to be willing to give him a pass no matter what he says or does.  Pretty scary.

U.S. Debt to Surge Past Wartime Record, Deficit to Quadruple

Let’s start with understanding the difference between U.S. Debt and U.S. Deficit.

In simple terms, a budget deficit is the difference between what the federal government spends (called outlays) and what it takes in (called revenue or receipts). The national debt, also known as the public debt, is the result of the federal government borrowing money to cover years and years of budget deficits.

Today this item was posted on Bloomberg News website.

U.S. Debt to Surge Past Wartime Record, Deficit to Quadruple

By Christopher Condon and Dave Merrill

April 21, 2020, 5:00 AM

The U.S. budget deficit may quadruple this year to almost $4 trillion. Projections from the Committee for a Responsible Federal Budget (CRFB) say that by 2023 U.S. debt held by the public will surpass records set in the post-World War II years. (1)

And these projections only include spending enacted so far—in a three-month-old crisis that has seen emergency Congressional appropriations top $2.3 trillion. Additional spending is almost certain as the coronavirus pandemic destroys millions of jobs and thousands of businesses while slashing tax revenues for local and state governments.

Even before the crisis, U.S. debt-to-GDP had more than doubled to 79% in 2019 from 35% in 2007. Deficit hawks, already hard to find, disappeared once the virus shut down whole swaths of the U.S. economy. The Coronavirus Aid, Relief, and Economic Security (CARES Act) legislation passed on a unanimous voice vote. Lawmakers understood that frugality made no sense in the face of impending economic collapse.

Will the candidates for president in the November election even touch this issue?  Probably not.

Oil prices turned negative. Hundreds of US oil companies could go bankrupt

In an unprecedented move, U.S. oil prices went negative Monday — meaning, companies paid to sell their oil — but don’t expect to get paid to fill up your tank at the gas station.

A oil futures contract expiring Tuesday went negative in bizarre move showing a demand collapse. … West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning producers would pay traders to take the oil off their hands.

US crude for June delivery is still trading above $20 a barrel — but even that’s disastrous. “$30 is already quite bad, but once you get to $20 or …

Why is this happening?

The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply.

 That double black swan has caused oil prices to collapse to levels that make it impossible for US shale oil companies to make money. US crude for May delivery turned negative on Monday — something that has never happened since NYMEX oil futures began trading in 1983. It was easily the oil market’s worst day on record.

US crude for June delivery is still trading above $20 a barrel — but even that’s disastrous.

“$30 is already quite bad, but once you get to $20 or even $10, it’s a complete nightmare,” said Artem Abramov, head of shale research at Rystad Energy.

Many oil companies took on too much debt during the good times. Some of them won’t be able to survive this historic downturn.

In a $20 oil environment, 533 US oil exploration and production companies will file for bankruptcy by the end of 2021, according to Rystad Energy. At $10, there would be more than 1,100 bankruptcies, Rystad estimates.

“At $10, almost every US E&P company that has debt will have to file Chapter 11 or consider strategic opportunities,” Abramov said.

The president did try to intercede on behalf of American oil companies. He tried to negotiate reduced oil pumping to stabilize the price. Obviously he did not succeed.

It will be interesting to learn what happens next.