Category Archives: economic news

business news, economic news

Tariff tumult requires testing

Donald Trump’s fixation with tariffs has the markets in an uproar. Hints of Trump blinking send the Dow Jones averages into outer space. Then the numbskull in chief says all the wheeling-and-dealing is a mirage … so the markets tank again.

I believe the Trump skeptics who contend that POTUS 45 & 47 doesn’t have a plan. He doesn’t understand the economics of a tariff, which makes me wonder out loud whether he evrer learned against the Wharton School of Economics, where he says he earned good grades.

I don’t what his grades were. I damn sure don’t care. He isn’t exhibiting a scintilla of knowledge about basic economics with this tariff nonsense.

President Reagan of all people called tariffs a “national sales tax” He was speaking in 1987 when he denigrated the notion of attaching tariffs on goods imported into the country. The Gipper was right then. Trump is wrong today in proclaiming that tariffs on imported goods will “make America great again.”

He is turning a national economy that was held up as the gold standard for the world to emulate into an international laughingstock.

economic news

Do the math, Donald!

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Well, that was quite a day … don’t you think? The Dow Jones Industrial Average opened today in the tank per usual the past few days.

Then Donald Trump announced he would suspend tariffs levied against most nations for 90 days … except for China. What happened next was a rally for the books.

The DJIA launched itself into heavens, closing up nearly 3,000 points. The Standard and Poors 500 finished even stronger percentage-wise.

What does all of this say about Trump’s tariff tempest? It tells me that investors who control people’s retirement accounts, their livelihoods, and their run-around funds think ill of the notion of penalizing Americans because the president of the USA doesn’t understand the damage tariffs do here at home.

Trump’s tariffs would raise the cost of damn near everything we buy, given that we are a nation that imports so many essential goods, services and commodities.

Investors have good reason to be skittish over Trump’s unilateral — and unprovoked — trade war against our closest allies and trading partners. If investors are squeamish about it, think of how all of this affects people like you and me.

And do you believe Trump has any interest in protecting the interests of those he was elected to govern? If he stalls implementation of the tariffs and seeks better trade deals with our partners, then I’ll cling to a glimmer of hope that he does care.

However, I am not betting the farm on it.

economic news

Yeah, I’m tired of ‘winning’

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Donald Trump’s version of “winning” bears no resemblance to what the rest of us think of the term.

He insists America’s unprovoked trade war that has spread across the planet like a Texas prairie wildfire has earned the respect and admiration of our allies.

Um, Earth to Donald: No. It hasn’t.

Canada has vowed to retaliate. So has Mexico. We start with our two closest neighbors and two of our most reliable trading partners, and it only worsens beyond that.

The European Union is aghast that Trump would impose steep tariffs on goods imported from France, the UK, Italy and Germany. What’s a bottle of wine going to cost now that Trump has imposed steep tariffs on that item?

Here’s the bitterest irony of all the international reaction. Russia, Turkey and Hungary – nations all run by ham-handed dictators and thugs – aren’t feeling the tariff pinch the way our traditional allies are feeling it. Why is that? It must be that Trump so deeply admires dictators, so much so that he is exhibiting signs of becoming one himself.

And yet the POTUS keeps yapping about the “winning” strategy of declaring economic war on our allies. He says they’ll come around to seeing it our way. Really, dude?

It’s looking all more likely to this old man’s eyes that our allies are fed up to here – and you can determine where “here” is – with Trump’s ignorant push for tariffs that only punish Americans.

Am I tired “winning”? Yeah, I am sick and tired of it in terms that Donald Trump applies it.

economic news

Trump’s callousness in full view

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You want a measure of the callousness of the Dumbass in Chief, the guy who said he looks out for the “little guy”?

On the second day of Donald Trump’s unprovoked international trade war, a day in which the Dow Jones Industrial Average shed more than 2,000 points , costing total investments to lose trillions of dollars, Trump jets off to Florida to play a few rounds of golf.

Hey, no worries, man. The MAGA Moron in Chief doesn’t give a rat’s red backside about the loss of millions of Americans’ retirement funds. He said he does, but you know how believable anything is that flies out of Trump’s overfed pie hole.

It kind of reminds me of the February 2021 escapade in which Sen. Ted Cruz sought to grab a few rays in Cancun while Texans were freezing to death in the killer winter storm that paralyzed the entire damn state. Cruz got caught escaping, returned to Texas … and then blamed his daughter for talkiing the family into the ill-fated family vacation.

This time, the callousness belongs to the president of the United States of America, who launched an unprovoked international trade war by imposing tariffs on virtually every product imported into this country. Nobel laureates have proclaimed this to be a catastrophe. So have politidians of both parties. Even the great President Reagan beomoaned tariffs in the 1980s, calliing them a national sales tax that falls on every Amerixan to pay.

One of the countless lies that Trump told voters while campaigning for the presidency is that he cares about them, their welfare and their livelihood.

He doesn’t give a sh** about ’em, the folks who followed him all over creation to cheer on the lies he told them.

Here’s a thought: If he truly cared about us, he would keep the golf clubs stashed away and he would rescind the tariffs he knew would cause the havoc they have caused.

business news, economic news

Trump inscribe’s hideous legacy

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What does it say about a U.S. president who hears from the top economists on Earth that a policy he is considering would bring unvarnished disaster for Americans’ life savings … but then goes ahead with the decision to proceed?

It tells me that the president is hellbent on inscribing his place as the worst president in U.S. history.

How in the name of economic sanity can Donald J. Trump impose tariffs on our closest allies and most reliable trading partners and then watch as retirement accounts vaporize in real time?

He has through executive action spurred an international trade war, guaranteed a huge spike in inflation, forced the nation into a negative economic growth pattern and cost Americans billions of dollars in their retirement accounts.

Where I come from, that makes Trump the worst president in the history of the republic.

He doesn’t take advice. He heeds only his overfed “gut” and his “hunch.” He seeks to punish nations for “ripping us off,” yet imposes tariffs on such economic giants as American Samoa and Vanuatu.

Yours truly’s retirement account is vanishing before my eyes. Why? Because the numbskull in chief doesn’t care one damn bit about protecting the people who pledged to protect when he took office.

economic news, local news

Come back during rush hour!

A friend who lives in Austin ventured through Princeton recently partly to check out some of the issues I have raised on this blog … at least that’s what he said.

He was traveling from Paris through Princeton and wanted to know about the hubbub over this city’s enormous growth.

He got a small taste of what I have been saying about this Collin County community that is undergoing a fairly fundamental identity crisis. My friend said somethinga about the city-imposed moratorium on residential construction. The council imposed the ban and then recently extended it another six months. My hunch is that it will do so again and again … and may even again.

City Manager Mike Mashburn estimates that Princeton is home to more than 40,000 residents. I believe him! Builders are planting “New Homes Coming” signs still on undeveloped residential plots as they commence contruction to fulfill building permits that already were approved prior to the council’s decision to suspend residential construction.

The city has overbuilt beyond its ability to service the people who already are here. It is trying to halt the construction long enough to enable it to provide the infrastructure it needs to provide the service.

My friend said he cannot imagine how tough it is during morning and evening rush hours along U.S. 380, the major east-west thoroughfare that cuts through Princeton. What’s more, it’s going to get worse. Texas transportation gurus want to widen 380 from four lanes to six, but to do that the’ll have to shut down two of the lanes to make the highway a two-lane track while they build the extra lanes.

I appreciate my friend’s outsider perspective. He can’t “imagine” how bad it can get here. I got news for him. Neither can I.

economic news, national news

Musk, Trump testing our faith

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Elon Musk and his puppet, Donald Trump, are testing my faith in the U.S. Constitution’s ability to hold up to the full frontal assault these two nimrods are launching.

Yes, my faith is bending, but I believe — at least I hope — it is far from breaking.

Trump campaigned for the presidency vowing to leave veterans benefits and Social Security alone. He said he wouldn’t cut either program. Then he hauls Elon Musk aboard the clown car and Musk — the richest man on Earth — starts yammering about cuts in vets’ programs and calls Social Security a “ponzi scheme.”

OK, the disph** doesn’t know a ponzi scheme if it bit him in the ass. Social Security is a compact this government made in 1935 with elderly Americans to provide them with assistance to live in their retirement years.

We have paid into the system and as we seek to enjoy retirement from a lifetime of working hard, we are getting some of it back. What does Elon Musk know about any of that? Not a damn thing!

As for veterans benefits, for Donald J. Trump — the draft dodger in chief — to say a word about cutting benefits for those of us who did serve our country is merely adding unconscionable insult to unforgiveable injury.

Some of us are old enough to remember a time when Democratic leaders in Congress sought to monkey around with elderly benefits. In the 1980s, House Speaker Tip O’Neill and senior U.S. Rep. Dan Rostenkowski of Illinois got caught making untoward comments about Social Security. The outcry from the masses was so vigorous that they both backed down.

Musk and Trump should face an equal rage-filled response if they try to monkey around with old folks’ retirement and veterans’ pre-paid benefits.

business news, economic news

Trump to raise the cost … of everything!

Donald J. Trump, with the stroke of his Sharpie pen, instituted tariffs on every item this nation imports from Mexico, Canada and China.

It means that the cost of all the things we purchase from these formerly friendly trading partners is going to cost you and me more money that many of us cannot afford to pay.

Trump, though, keeps operating on the myth that he is punishing those countries. Bullsh**! That’s all it is. The self-proclaimed “king of debt,” the guy who once thought of himself as a whiz-kid wheeler and dealer is going to inflict pain on those he took an oath to protect and defend.

What in the name of fiscal sanity is rattling around that strangely coiffed noggin of his?

Do you remember when this dipsh** took office the first time and he negotiated what he called the greatest trade deal in business history with Canada and Mexico. He tossed aside the North American Free Trade Agreement and replaced it with another deal he said would protect all three nations from economic harm.

Well, buckle up boys and girls. The numbskull in chief is about to inflict all kinds of harm on all of us. If you’re someone who trades in fruits and veggies imported from Mexico, you’ll pass the cost of those goods on to consumers. If you purchase timber from Canada, you’ll do the same thing. Oh, and computer chips and all manner of household goods imported from China? Same thing, gang.

Trump’s economic policies — such as they exist — are intended only to inflict maximum pain on Americans. That’s you and me, man!

economic news, local news

Princeton does the inevitable

Princeton’s City Council had no choice but to do what it did Monday night by extending the building moratorium it had placed on new single-family dwelling and apartment construction.

It voted to extend its four-month building ban another six months.

So, let’s see. That means it will be 10 months before the city could start issuing building permits on those types of dwellings. This is just me, but my gut tells me another extension could be in the deck of cards that council members would want to play.

Princeton’s population continues to explode, But ,.. wait! The city needs more police officers, more firefighters, more medical emergency personnel, better streets, more electric utilities, more natural gas lines.

Moreover, the city needs much more commercial development, which isn’t part of the public financing obligation associated with infrastructure development. That commercial development is on the verge of become a reality.

A Princeton resident told CBS News Texas Channel 11 last night that folks here have to go to places such as McKinney and Allen for entertainment or to just purchase needed goods and commodities.

Princeton has developed an ocean of single-family rooftops. That’s fine, but the strain on new residents’ tax obligation is more than many of the newbies would care to absorb.

The city has some catching-up to do and I’m not sure six months extra time is enough.