The Whole World Is Watching
Copy Cats Finish In Second Place
1968 was an eventful year. Not only were Robert F. Kennedy and Martin Luther King assassinated, but The Democratic Party held its convention in Chicago. In 1968 there was reason to riot. The Vietnam War turned out to be an inevitable failure and people realized it was time for a change. While it took years and several events to bring about that change, demonstrators at the convention made their mark.
Round two begins on Monday but there’s a different reason for demonstrators to take to the streets of Chicago. For whatever reason, Israel is deemed to be the culprit this time. I’m not one to distinguish whether or not free speech is at issue but in this case, as I did in 1968, I have an opinion. Regrettably, while the “Israeli” protestors will have a strong representation, those who support Israel will not. That’s not right.
In any case, there will be as much action outside the convention as inside it. Will this be a repeat of 1968? Other than the chaos created I doubt it but what comes out of the Democratic Party will help shape the election battle. Over the last month, many issues have taken shape, the candidates are entrenched, and positions are being taken, but it is time to start taking them seriously.
What I’m Hearing & Seeing
When it comes down to it, I’m a true Libertarian. I would like for different candidates to head the ticket but we’re stuck with Harris and Trump. How Biden’s candidacy was handled is undemocratic at best. The ascendency of Harris to the throne was equally flawed but individual choices made by the “powers that be” cannot be questioned. In reality, they should be.
Trump was nominated by the Republican Party. Harris, essentially a “second-string” pick, assumed the mantle without receiving a single vote. There is something wrong with this process and undoubtedly others will object but it matters not. We’re stuck with the outcome so let’s make the most out of it.
Copycat Positions Fail
I’m not one to belabor the issues but two stand out:
Child Tax Credits: Trump came out with a position where the amount of child tax credits would be increased to $6,000. In a recent speech, Harris recited the same.
No Tax On Tips: In Nevada, Trump remarked that in his administration the taxes paid by the service class would not be subject to taxation. Harris jumped on board.
While the political parties can agree, how this all took place disturbs me as does how Kamala ascended to the throne. What else will she look to change or copy where she is doing nothing more than seeking votes? Face it, that’s what the rest of the campaign is all about. Winning over the voters necessary to win the battleground states is what this election is all about. Copycat positions fail, especially when they flip-flop versus what we know the candidates stood for in the past.
Where Is The Reality
In a way, I think that Oprah is the real candidate of the Democratic Party here. I feel that Harris is taking a page out of her script as well. “You get a house”, is very similar to when Oprah gave away cars. The problem here is that it will not work and you are the one that will suffer if Harris wins.
The Biden administration spent billions to ensure that changing stations would turn up around the country. So far less than 10 have been built. Now Harris is promising to build 3 million new houses in 4 years. If you believe that I have a bridge to sell to you over the East River cheaply. Come on people, wake up, and bring a little reality into the real world you exist in. False promises are not reality and neither are the positions she espouses.
No One Can Solve Inflation
I’m a “macroeconomist” at heart and a pretty boring one at that. No one has a crystal ball which is why, post establishing basic positions, I hedge. Those who follow me can see that and realize that I’d rather be safe than sorry.
Inflation’s a real problem and will never be cured by any government. It’s the economy stupid, not the politicians who hold the answer. We are not a communist country and seeking to trend in that manner has failed in the past. If you do not believe me check out the failures we attempted in the 1970s with the “Whip Inflation Now” campaign where “WIN” buttons only made money for those who manufactured them.
Harris has no solution, only promises that will continue the inflation plight. Trump is talking about tariffs but those take time to negotiate and come to fruition so the only real answer is to “drill-baby-drill”. From my perspective, the only variable to control and bring down prices is the fuel necessary to operate supply chains. Nothing else is going to produce results. It is as simple as that. Reduce expenses where possible.
The Federal Reserve has two prongs to control, unemployment and interest rates. In the near future, you are going to see unemployment rise. Artificial Intelligence works and we need fewer employees to maintain productivity. So when the Fed brings down rates it is not so you can get better mortgages. The real reason is that unemployment is kept at reasonable levels. I’m not so sure they have the arrows in their quiver to do this but like anyone else, I trust they know more about what they are doing than me.
Enjoy The Rest Of Summer
Keep your eyes and ears open. Labor Day is just a couple of weeks away and we’ve got a busy schedule. We have a Democratic convention to deal with, The Ticker is moving to the main screen, and the world is uncertain at best. I’ll keep reporting as I see this unfold and trust you will keep following. With more than 25,000 of you watching let’s hope the message gets out.
It’s 1968 all over again but in reality, it is not. What we protested has changed. Today the events that drive protests are different than what drove them years ago. I know, I was arrested in 1968 when I was 13 years old. I wanted to be part of the change. Today I just want to watch and learn from it. In my heart, I look forward to the turmoil that will erupt but more so I just want to be assured that “free speech” is alive and living in this country. That’s what I’m looking for this week. How about you?