Saturday, August 29, 2015
Friday, August 28, 2015
From The New Yorker:
THE HAMPTONS (The Borowitz Report)—They don’t pay taxes. They circumvent our laws. They get free stuff from the government. They are America’s billionaires, and many would like to see them gone.
According to a new survey by the University of Minnesota’s Opinion Research Institute, the American people hold the nation’s billionaires in lower esteem than ever before, and a majority would like to see new laws enacted to deport them.
“They come here, take thousands of our jobs, and export them overseas,” one respondent said, in an opinion echoed by many others in the survey. “They are part of a shadow economy that sucks billions of dollars out of the United States every year and puts it in Switzerland and the Caymans,” another said.
Images of hedge-fund managers arriving via helicopter in the Hamptons this summer have only reinforced the impression that authorities have turned a blind eye to their movements. “Many of these people should be in prison, and the government is looking the other way,” one respondent said.
Stirring even more controversy is the billionaires’ practice of having babies in the United States and using the nation’s porous estate-tax laws to pass down untold wealth to the next generation. “They should leave and take their children with them,” one respondent said.
Even after it is pointed out to respondents that some billionaires, such as Warren Buffett and Bill Gates, have made significant philanthropic contributions to the world, a majority of those polled stubbornly maintained their negative views of billionaires.
“Look, in every group you’re going to have some good ones,” one of the respondents said. “But that doesn’t take away from the fact that the vast majority of these people are destroying this country.”
Thursday, August 27, 2015
According to the WSJ Survey: Economists Cite Budget Battle as Top Threat,
According to a recent survey of 62 real economists by the Wall Street Journal, it is not the instability of China’s stock market, or its move to devalue its currency, or the Greek Eurozone crisis, or the possibility of the Federal Reserve finally raising interest rates. What frightens a great majority of the nation’s leading economic experts most of all is that the Republican-controlled Congress will “precipitate another fiscal crisis this fall” when Republicans plan to either shut down the government unless Planned Parenthood is destroyed, or hold the debt ceiling hostage until Planned Parenthood is destroyed. It is important to note that the push to put an end to Planned Parenthood has nothing to do with the economy, debt and deficit, national security, jobs, or economic growth; it is about legislating and enforcing an extremist religious policy.
“After watching Congress repeatedly crash into fiscal deadlines in recent years, a majority of economists are expecting a repeat performance, with 55% of respondents to the latest Wall Street Journal survey of 62 economists predicting that there will be some disruption to the economy and financial markets in the months ahead.”
The WSJ economists are fearful that yet another evangelical Republican economic disruption will have a really serious impact on their forecast for 2.2 percent GDP growth and a 5.1 percent unemployment rate by the end of 2015.
The economists, who have witnessed Republicans “produce significant damage to the American economy” three times over the past six years said they are convinced Republicans will do a repeat performance such as the debt ceiling crisis of 2011, the fiscal cliff showdown in 2012, and the 2013 government shutdown that adversely affected the American economy and won Republicans control of the entire Congress.
The economists, particularly the chief U.S. economist of High Frequency Economics forecasting firm, Jim O’Sullivan, said if Republicans as varied in extremism as Ted Cruz and John McCain follow through on their threat to shut down the government if Planned Parenthood is not destroyed, especially with a new budget and borrowing authority due by October 1st, they will repeat their past “serious damage to the economy by harming consumer confidence.”
Will the GOP controlled Congress threaten to drive the country over the financial cliff again if they don't get their way? We can only wait and see how reckless the GOP will be.
HINT: If we look at who the base is supporting for president, I think we know the answer.