Megalomania Monday/ Xmas Eve

1a

On Friday, Donald Trump said: “We are totally prepared for a very long shutdown.” It was one of his rare uses of the pronoun “we” instead of his preferred – and in this case far more appropriate – “I”.

The shutdown is indubitably his. Congress offered him a way to continue funding the government without the money to build his nonsensical wall along the Mexican border, but Trump caved in to the rabid rightwing media and refused.

I was in Bill Clinton’s cabinet when Newt Gingrich pulled the plug on the federal government in 1996. It wasn’t a pretty picture. A long shutdown hurts millions of people who rely on government for services and paychecks.

Trump’s shutdown also adds to growing worries about the economy. The stock market is on track for the worst December since the Great Depression. World markets have lost nearly $7tn in 2018, making it the worst year since the 2008 financial crisis.

The shutdown is stoking fears that Trump could do something even more alarming. He might fail to authorize an increase in government borrowing before the federal debt reaches the current limit, which Congress extended to 2 March. A default by the US on its obligations would be more calamitous than a government shutdown.

Robert Reich @ THE GUARDIAN

About Den

Always in search of interesting things to post. Armed with knowledge and dangerous with the ladies.
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14 Responses to Megalomania Monday/ Xmas Eve

  1. °¿º Carol says:

    After the 1929 crash, the government invented new ways to boost the wages of most Americans – social security, unemployment insurance, overtime pay, a minimum wage, the requirement that employers bargain with labor unions, and, finally, a full-employment program called the second world war.

    With the morons wreaking havoc in our society the last 30 years, nothing gets fixed and they continue to chip away at the gains the government encouraged with new laws after the 1929 crash. How is it that they don’t encourage our buying, w/o money no one can push the economy forward. They MUST know that’s how it works, yet they continue to stop their own progress by giving the peasants more money in their pockets. What do they gain if we can’t buy their widgets?

    Like

  2. °¿º Carol says:

    Been sitting around, ready for company. Ham in the oven warming up, sausage warming up…

    Of course, I have MSNBC on, listening to it from in here. No Christmas Carols for me, especially since I’M Christmas Carol.

    Like

  3. Micki says:

    I’m a marketer’s nightmare. I refuse to buy crap, just for the sake of having (or giving) crap.

    Stagnant wages & widening inequality! Worse by the day!

    Robert Reich:

    It’s important to understand that the root cause of those former collapses wasn’t a banking crisis. It was the growing imbalance between consumer spending and total output – brought on by stagnant wages and widening inequality.

    That imbalance is back. Trump is making it worse.

    Like

  4. Micki says:

    Air quality good! 12 on the scale

    Gorgeous day! The only “glitter” is dewy sparkles trembling on tree branches.

    Like

  5. jimhitchcock says:

    Due to current market irregularities, the DWF Investment Club is on a brief hiatus.

    Like

  6. David B. Benson says:

    If last night’s mini snow sticks around, a White Xmas.

    Like

  7. David B. Benson says:

    Texas has 16 weird laws.

    Like

  8. David B. Benson says:

    Saudi Arabia on its way to bankruptcy.

    Like

  9. David B. Benson says:

    Second and final trip to the grocery store complete. Still need to scrape the steps in the only place that the wan sun didn’t melt the snow; supposed to be at most freezing for the next 36 hours.

    Like

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