Podcast 284

Polar Vortex 2015. Perhaps we should start off by saying, “Previously on Polar Vortex”. It happens just about every year around this time in the Upper Midwest. It gets real cold. We call it winter. A few weeks of below zero temperatures with little relief. It’s been colder. Where are the cavalcade of ‘economists’ (astrologists) predicting the inevitably dour economic effects of the ‘polar vortex’? Surprise! Now that a Republican majority is about to take office ‘economic experts’ are optimistic! Touting 5 percent GDP growth, lackluster employment statistics and a host of other debatable ‘facts’, some formerly doom and gloom analysts are finding  rose colored glasses not used since the Bush administration. As a new Congress is about to be sworn in, scolds to tell Republicans, “It’s time to govern”! Isn’t ‘governing’ something both parties and all branches of government engage in? Not just a majority and not just one branch of the government? Freedom Works has declared Speaker Boehner ‘must go’, and thus the factional battles in the new Congress begin. Freedom Works instructs you to write, call or email your congressman and demand the speaker be retired! (Editor’s Note: A waste of time, since interns answer the phones, review emails and open letters, even writing replies. If you want to get your congressman to pay attention to you, you have to control votes or money, and preferably both. If you want to write, call or email, go right ahead, but don’t fool yourself. Until you’re organized, you’re nothing to them.) Next we have the ‘Restore America’ crowd. ‘Restore’ in this case means turning back the hands of time to 1950, everywhere in America. Uh…no thanks, there were no smart phones. Want to bet this will be Jeb Bush’s campaign slogan in 2016? What America needs isn’t ‘restoration’, but new ideas that meet the challenges of new technology and a world that doesn’t look anything like 1950. Now there is one place in the world where it is, in fact, still 1950. North Korea. Here’s a question; What if the Sony Hack wasn’t the work of North Korea’s ‘army’ of hackers? The FBI’s contention – and the President’s – is under fire from tech security companies. If it wasn’t the North Koreans and the President ordered a retaliation, this could be the first major Obama Screw Up of 2015. Stay tuned. Back home in the land of ten thousand lakes, and taxes, Minnesotans should prepare themselves for a gas tax increase. Democratic Governor Dayton has decided that while cheap gas acts ‘like a tax cut’, it just isn’t expensive enough for the dancing peasants, so we need an increase in the gas tax. Or something like that. Minnesotans need new trains, and bike trails and bridges are falling down, right? Not really, but it works every time. Meanwhile, Kurt Daudt, Republican Speaker of The House says there will be “give and take” this session. Sigh. And a final parting shot at ‘morning people’ and their arrogance. Nocturnal People Rule! Sponsored by X Government Cars, and Depotstar.  

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Podcast 272

Christmas Insanity. Stories we are missing because of all the reporting on Congress, Oil, Australia and … Christmas. Suddenly we have to be told how to ‘deal’ with the Christmas Holiday, by practicing ‘abundance without attachment’. In english, that means we should not criticize commercialism, or judge materialism, but be unattached to money and just enjoy ‘the experience’. (Editor’s Note: I am well acquainted with the concept of practicing non attachment, but I don’t think it has anything to do with the rash of lazy journalism regarding spending money during the ‘holiday season’.) The biggest problem is expectations, being generating because of all the emotional stimuli in commercials and these incessantly cheerful all christmas all the time radio stations. Maybe the bad reporting comes from the fact that this is the worst time of the year to be doing issues or news based media, since people are checking out. Nothing is wrong with materialism, even the love of money. What’s wrong is the media’s obsession with predicting economic performance based on individual sales days like black Friday and Cyber Monday. The whole season becomes an economic bellwether? The truth is, its only since about the 1930’s in the US that Christmas per se, has become this macro holiday, with all its attendant markers for the wider economy. The best Christmas gift so far? The Sony Hackers. Revealing how Hollywood is actually the rapacious capitalist, rather than Wall Street. Anyone want to see if millionaire Senator Elizabeth Warren will take on greedy Hollywood execs? Why is it always Wall Street Banks, or dirty industrial companies. Eew. Do we still value people who actually make things? Or do we care more about the perfumed princes and princesses of Hollywood and the whales, global warming, public-private partnerships to preserve water and other nonsense. MSNBC’s days may be numbered. A new digital service called MSNBC Shift will be testing programming for the ailing progressive mouthpiece no one is listening to. Don’t rule out a completely new approach’ sports or entertainment. While Fox enjoys huge audience numbers, they sit astride a delivery channel (cable television) that may actually have an expiration date. Remember when Global Warming enthusiasts said warming causes tornadoes? The US had fewer tornadoes in the last three years, since they started measuring these things back in the 1950’s. And finally, the dumbest story of the week; “Scientists” say the warmer it is, the less you make. 54 degrees is the optimal temperature for productivity. Sigh. Sponsored by Baklund R & D. 

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Podcast 271

Gas Oil Collapse. Energy and Oil and Politics. We may be at the beginning of the end of an era in the energy markets, politics and economic policy but people are never going to figure it out with the terrible job the media is doing reporting on these topics. Gas is below two dollars in 13 states, crude trading at 55 dollars a barrel, with more drops expected. Meanwhile, OPEC refuses to cut production, even refuses to hold a meeting to discuss it. The drop in oil over the last few months of 40 percent so far, most of it in the last two months is beginning to have an effect. OPEC’s price war on Frackers in the US, Canada and Brazil, the international version of a gas war, is beginning to have economic and political effects. When the cheerleaders talk about oil ‘acting like a tax cut’, remember there is a lot more to this story. If energy production in the US is a big piece of the manufacturing boom, what happens when lower prices curtails exploration? Will lower oil and gas prices still act like a tax cut? What about disinflation, or outright deflation in commodity prices? What about dropping demand due to economic slow downs in China, Europe, and Latin America? Do you think the US is ‘decoupled’ from the rest of the world’s economies? On Wall Street, the story is completely different. There, investors are moving money from the market to long term Treasury Bonds, an indication of expected weakness? Meanwhile, the Federal Reserve will be hard pressed to raise interest rates (which its wants, and perhaps needs to do) in the face of declining commodity prices. This isn’t just an international problem. A Minnesota State Legislator wants to reduce farm property taxes, due to the decreased revenues farmers are seeing on their crops. As the sun sets on the Democrat Senate Majority, and rises on a huge Republican majority in the US Congress as well as state legislatures and governor’s mansions, we’re also about to enter a new era in politics, or perhaps close an old one. How will the last two years of the Obama administration differ from the previous 6? Despite the President’s progressive rhetoric, does the budget deal indicate will be a little different when it comes to horse trading with Congress? Sponsored by Ryan Plumbing and Heating and Depotstar. 

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