Tag Archives: Wall Street

Still waiting for answers from Bernie

berniesanders-61515-1434466786

Some of us might recall a quip made famous by former Vice President Walter Mondale as he competed for the Democratic presidential nomination in 1984.

His chief foe that year was U.S. Sen. Gary Hart of Colorado. The two of them squared off in a debate and Mondale turned to Hart and asked him: Where’s the beef?

The question has become something of a punch line.

I think it’s fair ask another challenger for the Democratic nomination essentially the same question. It ought to go to Sen. Bernie Sanders of Vermont.

Where is the beef, Bernie? Where are your constructive solutions to what you say ails the country?

I’m not hearing them.

Sanders captured two Democratic caucuses today, in Washington and Alaska. The frontrunner for the party’s nomination remains Hillary Clinton.

I listened last night to quite a bit of Sanders’s rally in Seattle. He stood at a lecturn in the middle of Safeco Field and kept saying what he’s been saying all along.

The campaign system is corrupt and he wants to bring public financing to presidential elections; the top 1 percent are getting richer while the rest of America is suffering; he wants to provide free college education for every student in America; he says every American is entitled to “universal health care.”

OK. Fair enough. I get the message.

The question: How are you going to make any — let alone all of it — a reality?

It occurred to me this afternoon while visiting with a friend: Sanders sounds a little like Donald J. Trump. Yes, he’s tapping into voters’ anxiety, anger, fear and frustration, just like Trump.

The difference, though, lies in the tone and tenor of his remarks … not to mention the tone and tenor of his response to criticism.

As I listen to Sanders, though, I keep hearing the same refrain.

Wall Street is bad. The political system is corrupt. Wages are unequal.

What is the candidate going to do — precisely, I must ask — to fix it?

Where, Sen. Sanders, is the beef?

 

Christie attacks Obama … on economy? Wow!

new-jersey-governor-chris-christie

Chris Christie needs to read more.

The New Jersey governor, and a probable Republican candidate for president next year, thinks the economy has tanked under President Obama’s administration.

Interesting.

http://wegoted.com/2015/05/chrsitie-goes-after-president-obamas-economic-policies/

The stock market is at record highs. Unemployment is at its lowest level in about a decade. Jobs are being created at a rate not seen since the Clinton administration, when everyone — even Republicans — say the economy was booming. The banking and auto industries have recovered. Automakers have paid back the funds they borrowed when the government bailed it out shortly after Barack Obama took office as president.

“This president is failing because he cares more about redistributing wealth than he cares about creating and growing new wealth in our economy,” Christie said on a radio talk show.

Here’s a flash: The president may be criticized for a lot of things, but the economy is in full recovery mode. Even the New Jersey governor ought to understand that.

Has the president done everything he said he’d do? No. We haven’t stabilized Middle East politics. We haven’t brought a world of peace and plenty to places that have neither. It can be argued that the war on terror hasn’t progressed as the president promised it would when he took office.

The nation’s economy — while it isn’t perfect — is in far better shape than when the 44th president moved into the White House.

Then again, when has the economy ever been in perfect condition?

It's still the economy, stupid

On the eve of the new year, let’s take a quick look at how the economy “tanked” during 2014.

What? Oh, you mean it didn’t? Darn! I must have forgotten about that recent Department of Commerce report that showed the Gross Domestic Product grew at an annual rate of 5 percent for the latest quarter.

OK, I guess that means that the Obama economic policies, those frightening elements that would send the U.S. economy into a tailspin just didn’t do what Republican doomsayers said they would.

http://www.washingtonpost.com/opinions/eugene-robinson-economic-facts-get-in-the-way/2014/12/29/c82d7686-8f9c-11e4-a900-9960214d4cd7_story.html

As the columnist Eugene Robinson wonders in the Washington Post, what in the world are GOP presidential candidates going to campaign on in 2016?

Those darn monthly jobs numbers keep piling up at a rate of a couple hundred thousand jobs a month. Oh, the deficit? It’s down … by about half of what it was annually when Barack Obama took office.

Gasoline prices? They’re down too. Now, the president isn’t able to take credit for the rapid decline in fuel prices, but he sure got the blame from the GOP presidential field in 2012 when they were increasing. Do you remember?

And yes, Wall Street seems happy. The Dow Jones Industrial Index is at 18,000, up more than double where it was in January 2009, when that “socialist” Obama took office. As Robinson noted in his column: “This is terrific for Wall Street and the 1 percenters, but it also fattens the pension funds and retirement accounts of the middle class.”

Uh, hello? Count me as one of those “middle class” Americans who’s happy with the status of his retirement account.

“For years, a central tenet of the Republican argument has been that on economic issues, Obama is either incompetent or a socialist,” Robinson writes. “It should have been clear from the beginning that he is neither, given that he rescued an economy on the brink of tipping into depression — and in a way that was friendly to Wall Street’s interests. But the GOP rarely lets the facts get in the way of a good story, so attacks on Obama’s economic stewardship have persisted.

And they’ll really get cranked up right along with the 2016 campaign.