Podcast 518

Skyfall. Last week’s vote by Britain to exit the European Zone provoked some of the most hysterical media coverage of an international news story I’ve seen in a long time. To begin with, there was little detailed coverage before the vote. Things we would need to know after the vote, like whether it was binding, how long it would take to negotiate an exit, what trade agreements might be effected, the defense agreements Britain has with other nations, the economic condition of the EU, Britain’s economic contribution to the EU in general, the percentage of the UK’s GDP accounted for in European Trade and so on. Then there is the issue of the world media being ‘on board’ with the remain vote, or at the very least reporting the story line that ‘leave’ would not pass. Consequently, no one was more surprised by a leave vote victory than the perfumed princes sitting in their air conditioned studios. If Skyfall was the fictional last resort of the embattled James Bond in the movie of the same name, watching anchors and pundits tear their hair out, one would think England is heading to Skyfall as we speak! Perhaps the EU’s unelected ‘leaders’ should be the ones heading to Skyfall. ‘Markets Crash’, the media moaned. From a distance, one might be forgiven for believing ‘The End Of The World’ is indeed near. Better head to Skyfall as a last resort! All is lost. The Leave Victory has jostled the carefully constructed ‘citizen of the world’ senses of a younger generation that apparently does not know the world existed before the EU. Well, the truth is the markets will regain their composure. In fact the British Pound recovered to pre-vote levels the Friday after the vote. It’s a tough thing to hear, but the EU has had problems for some time now, specifically the EURO, as southern Europe’s spendthrift policies have led them to demand relief from Northern Europe. Add to that trouble with the ECB, unpopular regulation and a failure to do anything about the Syrian refugee problem, and one wonders whether the EU hadn’t better clean up its act. Maybe Merry Old England delivered a slap in the face to the velvet suited technocrats, so they would go about getting their proverbial act together. Yes, there are real concerns going forward; What trade deals have to be renegotiated? While defense pacts like NATO really aren’t subject to EU control, there are concerns about defense issues and what about the idea of a strong European Community to foster cooperation and peace, to serve as a counterweight to an expansionist Russia, as well as China. There’s a lot to be worked out, but it isn’t the end of the world. The fact is, we are entering a new time, a new day, with new ideas and concerns. People may not have the language to describe their discontent and even disgust with over controlling governments, the edicts of unelected technocrats who spite ‘the great unwashed’, at their peril. When the winds of change blow, electorates have a funny habit of unpredictably lowering the boom on the haughty and confident. A new day indeed. Sponsored by Karow Contracting and Ryan Plumbing and Heating of Saint Paul. 

Podcast 490

Just Getting By. This was a big weekend. Doing business stuff for The Bob Davis Podcasts, which includes doing some final work on taxes – yes filing late for the first time in many years – and discovered many people who have donated to Mobile Podcast Command who need to be thanked for their generosity. Finally with a complete list, we work our way through the people who have been instrumental to the road trip podcasts both for the sake of travel – a new topic category with The Bob Davis Podcasts – and for covering the 2016 primary campaigns earlier this winter/spring. Another subscriber asked me to talk about the economy, and it’s been awhile, so this podcasts focuses on the Just Getting By economy. We start off with how to inform yourself about economic news, then move onto a discussion of the problem areas with the US and world economy. A slow down in demand and low inflation has hit emerging economies like China, Brazil, Russia as well as basket cases like Venezuela. Meanwhile central banks keep pumping cash into these economies, encouraging more government and corporate debt. In the US, there have been as many corporate defaults this year as 2009. Not a good sign despite economic growth and improved employment numbers. Yes we’re out of recession, no it doesn’t feel like dynamic growth because it isn’t. We’re Just Getting By. Don’t expect the next president, or congress to solve any problems because no one is discussing how to spur the growth of new technologies that will form the building blocks of a new economy and a new society. Our political leaders are still talking like it’s 1999, or maybe even 1909. Employment may be higher, but the quality of those jobs isn’t as good as it was before the 2008 recession, many of them are part time, and don’t cover benefits. Many people are freelancing, which many writers don’t seem to think is a great idea, although some people in the so called 1099 economy love the freedom, and some make pretty good money if they hustle. While companies are hiring they are being more cautious. Stories about the ‘hell’ of the modern workplace proliferate these days, although working is better than not working. Meanwhile autonomous machines, self driving cars, single seat drone aircraft you fly by wire, dirigibles, supersonic airliners, robots who can operate like human beings, artificial intelligence, new advances in communications, anti aging, advances in medicine, compounds used in manufacturing and construction, changes in money, and many more new ideas are coming down the pike at a frightening or exhilarating speed, depending on what your fear level is. The new economy is coming, whether we want it or not, and if the government gets out of the way, it might just be pretty great. Let’s work through it and figure out what to do, because clearly this crop of 1900’s trogolodites doesn’t know what to do. Sponsored by Ryan Plumbing and Heating of Saint Paul, Brush Studio, and Hydrus.

Podcast 482

The Story Less Travelled. As the pay for play media continues to chatter about what Donald Trump did this week, or Bernie Sanders’ predictions about democrat super delegates switching allegiance to him, maybe it’s time to take a look at The Story Less Travelled. Some percolating stories and issues people really aren’t talking about because they’re arguing about how tabloids post stories, how Internet rumors get started, how Donald Trump is going to make US allies pay ‘us’ for security, or why Bernie Sanders’ thinks Detroit became a hell hole in the last fifty years. There are real things happening in the world, most of which are reported on but not occupying very much attention, because too many pundits, talk hosts, talking heads, editors and managers are doing the bidding of political parties, candidates and their minders. What happens if Saudi Arabia decides to switch their alliance to China and Asia, which will account for the lion’s share of growth in energy consumption over the next ten years? What happens when economic instability due to massive debt and low profits comes home to roost in the banking system? How do you feel about academics going around saying the days of 4 percent and greater economic growth are over, and the solution is a world wide socialism-lite system, with more government and higher taxes? How will future presidents – the people filling your television screen with nonsense right now, and getting accolades from talkers, pundits and so called experts for it – confront a collapsing China, a Europe embroiled in a guerrilla war with thousands of ISIS fighters, and an economic depression. Maybe we should be talking about The Story Less Travelled more than what they want us to talk about. Sponsored by X Government Cars, Brush Studio in the West End, Saint Louis Park and by Hydrus. (Editor’s Note: This is not a ‘transcript’. Each podcast, which is original content in itself, also is accompanied by a short blog about the podcast. This blog is also original content, not a repetition of what is in the podcast, but a discussion of some of the ideas in the podcast. If you want to know what’s in the podcast, listen to it.)