Posts Tagged ‘The Great Recession

10
Nov
16

Lessons From the 2016 Election

It is Deja Vu except With Lots of Heartburn

This is Deja Vu except with lots of heart burn.  There was a popular President who had ushered in great economic growth yet his Party lost in a disputed electoral college loss (while winning the popular vote) and lost to an unqualified opponent. In 1992, George W. Bush brought in an immediate recession, dismissed warnings from the Clinton administration about a character named Osama Bin Laden, who, then, brought down the Twin Towers, which accelerated the Recession. Then, Bush committed the ultimate blunder (by consensus) by unilaterally attacking Iraq for no reason, allowing ousted Iraqi Sunni soldiers to become ISIS. If all that wasn’t bad enough, Bush brought in The Great Recession – (don’t kid yourself, 2008-2010 was a Great Depression) – causing millions to lose their homes, their life savings and their jobs. Then, came the election of  Barack Obama. This was followed by seven years of solid  and uninterrupted economic growth (you can’t turn around a Depression in less than a year), he brought unemployment down from 10% to 4.9%. Wages were going up, jobs were plentiful. And then came the 2016 Election. And now here we go again. Get ready for the Republican Party to make us slide into another Recession.

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Lessons From the 2016 Election

  1. Hate Trumps Love
  2. Lies Trumps Truth
  3. The Electoral College is obsolete
  4. Cheating (Voter Suppression, Election Rigging) always beats the ones that play by the rules.
  5. Bigotry always beats Tolerance and Acceptance
  6. Outside agencies (The Russians, the FBI) in the Presidential election will never have to pay the consequences.
  7. Fake campaign promises always beat realistic solutions.
  8. Going low always beats going high.
  9. No transparency beats high transparency.
  10. Timing of scandals just prior to the election is the key to winning.
  11. The gullibility of the American people knows no bounds.
  12. Fake scandals trump real scandals.
  13. For a so-called “Christian” country, a candidate who possessed the least amount (ever) of Christian values was elected, I guess the lesson from this fact, is that “Hypocrisy” is King in the United States.
  14. The strategy of total obstruction, government shutdowns, never compromising, lying, and opposing everything the President wants is the blueprint to take over the Presidency in the next election cycle.
  15. The Media normalized Donald Trump, and were guilty of carrying out a double standard.
  16. The American Dream is a myth.

I would say the Republicans have shown the way to take over the topple the Presidency. I would recommend the Democrats from Day One do the same thing that the Republicans did – to never work with Trump and show no respect towards him as he has never shown any respect to anybody else.

 

The Issue that Galvanized the Populace: The Rejection of Free Trade

Let me stress one important fact. Free Trade is the bedrock of the Republican Party ever since Ronald Reagan and his financial guru Alan Greenspan introduced it to Washington, DC in the 1980s. It is ridiculous to think that the continuation of Free Trade was part of the Democratic platform (somehow, low information voters thought it was). After the Economic Depression caused by Deregulation and the Big Bank/Housing crash, people started rethinking whether Free Trade is good or bad. Free Trade is where we stop charging import taxes on products from other countries. The premise was: by decreasing the cost of imports, the US can buy more stuff which pumps up the US economy. Just a little hitch, as the cost of import products went down, it made American products comparatively more expensive, ultimately costing American jobs. And then larger corporations started taking advantage of lower costs of living (plus no import taxes) in other countries, by moving US jobs directly to the other countries (offshoring).

The Democratic Party has always been the political party against Free Trade. Backed by Unions who felt that Free Trade jobs would take away American jobs – the unions were correct. Today, unions within private businesses comprise only 7% of companies where it used to run about 45-50% in the 1950s. The Democrats who have been for Free Trade are the so-called “Business Friendly” Democrats. During the 1990s, when Free Trade was the most popular, the split was 60% against Free Trade and 40% for Free Trade. Today, the Democratic Party is 80% against Free Trade and 20% for Free Trade. The Republicans are 85% for Free Trade.

For example, let us look at the vote on the recent controversial Free Trade treaty, the Trans-Pacific Partnership (TPP) – an agreement between the USA and 13 other countries. In 2016, the vote in the Senate: passed 60-38 (Yeas: 47 GOP, 13 Dems; Nays: 7 GOP, 31 Dems & Ind.). The House vote: The vote was 218-208 (Yeas: 190 GOP, 28 Dems, Nays: 50 GOP, 158 Dems). This vote allowed the treaty to be brought up for vote without allowing any amendments. This bill still sits in Congress. It is feared that the GOP will try and secretly pass the TPP bill during the lame duck session.

The Candidates Remedies for Free Trade

Donald Trump rallied against Free Trade yet his policy was lacking of any substance. Many times, even during the campaign, Trump would say: “I am the biggest Free Trader”, yet he was ready to impose a tax of up to 45% (as a threat), which makes it the exact opposite of Free Trade. Realistically, Trump could not by Executive Order impose a 45% tariff on a country. Trump also said that we need to renogotiate the Free Trade Treaties, but what does he really mean? Would Republicans go along with Trumps popular sentiment of being against Free Trade? Highly unlikely – the GOP is the party of the 1%, big banks and multi-national corporations. Now, that Heir Trump is President, I believe that the Free Trade issue will be untouched and Trump will continue to make his clothing in China, Vietnam and Mexico. There will be no new jobs from “changing” Free Trade. I predict a recession within the next two years. Trump voters deserve what they get.

 

 




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