Corona-Recession-Becoming-Depression?-Bob Davis Podcast 941

Corona-Recession-Becoming-Depression?

Firstly chances of a happy ending to this pandemic are fading. Learn more in Corona-Recession-Becoming-Depression?-Bob Davis Podcast 941.

Going Against The Optimists

Secondly I know what I have to say goes against the optimists.

Pollyanna

However there’s optimism, then there’s Pollyanna.

Mental Health

Thirdly and most importantly are concerns and questions about our overall mental health.

Giving In To Reopening Pressure

Certainly it’s now clear some states gave in to political pressure to reopen.

Shutting Back Down

As a result we face the specter of shutting back down. One of the reasons I ask whether the Corona Recession Is Becoming A Depression?

Negative Economic Impacts

Above all the big concern is additional negative impacts on the US Economy.

Relief Running Out

Even more unemployment benefits and business relief packages are running out.

The Sheriff Is Here With Your Eviction Notice

Finally as the grace period on evictions ends people are forced to move.

“This Is All Going To End, You’ll See”

This was all supposed to be over by now, right?

Taxpayers Are Broke…So Is The Government

Meanwhile Congress and the White House are negotiating new relief that starts at one trillion dollars. Where is the production and the tax revenue to pay for it?

Enormous Debt To Stop The Panic

More debt, more money printing and more borrowing future growth to stop the bleeding now.

The Boom Was A Dream

In addition the bill for the central bank’s propping up the world economy for at least ten years is coming due. Our economic boom was a dream. Corona is the shock that ended it.

Good Morning Sunshine!

In short it is not a pretty picture.

Optimism Rests On Stock Market and Unemployment Numbers

Similarly you’re going to hear a lot about unemployment numbers, the stock market and so on. But these are not how we measure the economy.

Top Guys Hedging Their Bets

In conclusion top financial people are already hedging their bets. Warning of gathering storm clouds and trouble ahead.

Kanye West, Protests and Karen

The fact that these stories have not seeped into the mainstream is especially relevant. But when you have riots, Kanye West and Karen’s antics at the WalMart to share on social media, who cares about the economy?

Really Hope The Optimists Are Right

To sum up, batten down the hatches America, in about a month we all may wish the eternal optimists were right.

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Corona-Recession-Becoming-Depression?

 

 

 

Congressman-Tom-Emmer-Part2-Bob Davis Podcast 874

Tom Emmer On The Record

These days more important than arguing with politicians is getting them on the record. In view of election results in Virginia and Kentucky recently this podcast is most noteworthy. Learn more in Congressman-Tom-Emmer-Part2-Bob Davis Podcast 874.

Focus On The Issues

Especially relevant is are the issues in Congressman-Tom-Emmer-Part2-Bob Davis Podcast 874. We start with mining in Northern Minnesota near the Boundary Waters and Superior National Forest.

Mining

Congressman Emmer says mining is good for Minnesota’s economy and schools. Moreover, he says Congress needs to make sure the Federal Government lives up to its agreements with Minnesota on this subject.

Immigration

In addition immigration is a top issue. Specifically Somalis in the 6th district. Will congress pass comprehensive immigration legislation soon? Emmer lauds the President’s travel ban and says immigration action depends on GOP control of the House.

He Sold Us Out Some Constituents Say

Moreover Emmer blames assistance to immigrants for high levels of chain migration. Some 6th district constituents say Emmer sold them out on the immigration issue. He responds.

Funding For 2020 House Races

What about funding for house races? Emmer says republicans need to win at least 19 seats to take back the house. Trump on the ballot means the GOP takes back the house in 2020, says Tom.

Virginia and Kentucky Election Results

In contrast to Emmer’s hubris, democrats won recent elections in Kentucky and Virginia this week. Even more rumors of difficulty for the president in battleground states persist. Especially with women voters. Not to worry, says Emmer. Trump will win it all, the only question is the president’s margin of victory.

Foreign Policy

Similarly foreign policy issues are not clear cut for 2020. Another issue is trade. He also comments on Syria, Latin America and China.

Trade and The US Economy

Finally what about the US economy? Is the US growing? What about the budget deficits and debt?

Heavy On Issues Talk

In conclusion Congressman-Tom-Emmer-Part2-Bob Davis Podcast 874 is heavy on issues talk. For people who want to know what this congressman thinks, this podcast and Part1 are recommended.

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Congressman-Tom-Emmer-Part2-Bob Davis Podcast 874

 

 

 

Recession-Warning-Media-Confusion-Bob Davis Podcast 855

What Is All This Talk About Recession

These days it’s hard to tell who to believe. In many ways it’s the best economy ever. The best time to look for a job. An unprecedented economic boom. Why is everyone suddenly talking about a recession. Learn more in Recession-Warning-Media-Confusion-Bob Davis Podcast 855.

Not Making Predictions

First of all I am not here to tell you the economy is in the tank, or that it is booming.

Recession! Depression! Do I have Your Attention Now?

Truth is if you put the words recession, bust, or depression in an article you’re going to get people’s attention. In addition it doesn’t hurt to have a couple of historic drops in the stock market.

Now that I have your attention…Listen to Recession-Warning-Media-Confusion-Bob Davis Podcast 855.

Market Drops and Yield Curves Mean New Media Story Lines

It doesn’t matter if the markets recover from those drops.

What matters is now the media has a story line that predicts doom and destruction.

Fool’s Errand

Especially relevant is a lesson I learned a long time ago. It doesn’t matter how well informed a commentator might be. Making predictions about a force of nature like the world’s largest economy, is a fool’s errand.

Shallow Expansion, Debt and Slowing Growth

Even more, it is true our economy is growing and we are enjoying the longest economic expansion in memory. It’s also true it’s a shallow expansion and that growth just above the inflation line, isn’t really booming. Moreover, the expansion is getting pretty long in the tooth, as the say.

There Is A Season

In contrast like the seasons, economies operate on a cycle. Truth is anyone who predicts a recession will ultimately be right. Just like fall into winter recessions have a purpose. Economic contractions kill off the weak plants and animals and insects so the strong and grow again in the spring.

So when the yield curve inverts and the market drops it is certainly worth paying attention.

Seems like we’re missing something though. While the politicians and talking heads trade insults about who’s predictions are right, what are we thinking about?

Election Year Economics

In conclusion what plans to we the people have for the future economy of the United States. I sat down to do a podcast on the yield curve, claims about unemployment and recession predictions. I ended up with an essay on the pitfalls of talking economy in an election year, the ballyhoo on the current economy when the real questions aren’t even being asked. Let alone answered.

It’s 1950 In America…Coal Mines and Manufacturing, right?

Where are we going? What are we trying to accomplish? What kind of economy do we expect in the future. Is it really manufacturing jobs in Ohio and Coal Mines in West Virginia?

Sponsored by Ryan Plumbing and Heating of Saint Paul and Reliafund Payment Processors

Recession-Warning-Media-Confusion-Bob Davis Podcast 855