Podcast 307

Mitt Quits. Updates for the first week of February. While neighbors enjoy the Superbowl – enjoy their muffled screams through the wall – The Bob Davis Podcasts goes to work. Mitt Romney has decided not to run for President in 2016, provoking the Washington Post to name Jeb Bush as the front runner. Meanwhile a new poll of voters in Iowa, where the nation’s first presidential primary will be held, have picked Wisconsin Governor Scott Walker as the front runner, closely followed by Kentucky Senator Rand Paul. If you are an observer of politics, and you have a decidedly anti-government bent, it sure seems like the mainstream moderate wing of the Republican Party is selling policy and tactics from the 1990’s, while voters seem to engage with politicians with newer ideas. While the actual political season for the 2016 cycle is a long way off in political terms, the media seems to want to pick a moderate as the front runner, and the people might have different ideas. Stay Tuned. The new Economic numbers are out, and they aren’t as good as expected. Surprise! After 5 percent GDP ‘growth’ in the third quarter just about everyone ‘figured’ and predicted that we would have at least 3.6 percent ‘growth’ in the fourth quarter, what with gas being cheap and acting ‘like a tax cut’. Even President Obama declared victory over stagnation for weeks, culminating in his over the top State Of The Union Speech which would make the initiated think he was presiding over the most dynamic economy in US History. In reality, President Obama’s recovery doesn’t just lag Bush and Clinton and Reagan, the Obama ‘recovery’ is the worst economic performance of all Presidents in US History. The new growth number? 2.6 percent. What does the media blame it on? Those evil frackers who created all those jobs, and now they’re laying people off ’cause oil is so cheap. In fact the media that couldn’t bring itself to write a positive story about energy growth in the US in the last six years now can’t find enough down-on-their-luck in Williston, North Dakota, stories. Fact is, most of the manufacturing jobs the President likes to tout are energy related. Yeah, cheap gas is great. It acts like a tax cut. Just keep that in mind as the European Zone disaster starts to take hold, and China’s economic slow down begins to bite, realities which the US economy won’t escape. And what are US policies? Not clear away the gordian knot of taxes and regulation that chokes business formation, and the supply side, but continued efforts to stimulate consumption and ballyhooing ‘consumer confidence’. In Silicon Valley they are mixing morning shake cocktails of supplements and additives that are supposedly able to increase your IQ. Body hacks are all the rage, so Podcast 307 ends with an effort to play catch up, with the Broadcast Bunker Juicer. Sponsored by Xgovernment Cars and Depotstar.

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Podcast 290

Southwest Light Rail. News that Minnesota Speaker of The House Kurt Daudt says the House will not consider funding for the Southwest Light Rail, leads this midweek update from the Bob Davis Podcasts. SWLR has caused headaches for the Minneapolis Park Board, Bicyclists, Residents of Western Suburbs, Mayors, City Councils and legislators since its inception, and it isn’t even built yet! Despite the fact that light rail does not carry more passengers than buses, doesn’t spur development without expensive subsidies, and doesn’t generate employment beyond construction crews (which is a small swath of the working population and short term) the unelected Met Council and transportation ‘activists’ plan as many as twenty of these light rail projects, with the Southwest Light Rail central to the overall plan. Moreover, media coverage of how the state funds transportation projects is very confusing. Senate transportation chair Scott Dibble wants to add a wholesale gas tax which some report could add as much as twenty cents to a gallon of gas, which is projected to raise almost a billion dollars, add a license fee increase and then borrow 576 million for ‘roads and bridges’. What’s the other 800 million plus a year for? And let’s not forget the transportation amendment, passed a few years ago, which generates God knows how much in revenue. Is there a sinkhole someplace where this money goes? Oddly enough people who a month ago were touting the lower gas prices as acting economically as a ‘tax cut’, now advocate raising the federal gas tax. Hint, there is plenty of money if they would just dedicate all of the money raised in gas taxes for roads and bridges. Furthermore, what about Obama’s trillion dollar stimulus? Wasn’t that for roads and bridges too? New economic numbers this week has the media touting the ‘booming’ Obama economy, and leftwing commentators laughing at Republicans for spinning the good news, bad. But, there are still some questions about employment, central bank policy, and worrisome signs. 2.5 to 3.5 percent GDP growth is good, but wages are not increasing and some say, this isn’t enough to sustain the growth. Don’t get too cocky. The Bob Davis Podcasts provoked a lot of reaction in Podcast 287 regarding tea party politics in Minnesota, chiefly that rhetoric does not win elections, or force politicians to do your bidding. Almost as proof is a new poll of registered republicans in Iowa. If there is a grassroots tea party movement, the poll doesn’t show it. Mitt Romney and Jeb Bush lead a field of GOP candidates in the first primary state. Shockingly, the White House says journalists should be careful what they say, since it might provoke attacks against US military personnel and in his role as Commander in Chief, President Obama might have to shut down journalists who write stories jihadists don’t like, or satire that might make them attack. Not making this up. And you wonder why the President didn’t go to Paris. Finally, the IRS head continues to bitch and moan about the lack of funding for the agency, saying fewer audits are in store, and they may not be able to collect taxes …The Nation Rejoices! Sponsored by Baklund R&D.

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Podcast 252

The Gathering Storm. Business and Economic News. The latest headlines include a Mayor who throws alleged gang signals to curry favor with unsavory characters, a video of an MIT Obama Care ‘architect’ who says the law was poorly written to fool ‘stupid’ voters (what a surprise!), and the mainstream media election 2014 chatter is increasingly vapid. Time to turn to an issue no one seems to be paying attention to, save for the financial and market watchers. As commodity and housing prices decline the mainstream media tells us deflation is bad, because falling prices mean people will ‘wait’ to make purchases. Never mind we have had deflation (dropping prices) for things like flat screen TV’s and tech for years, and people keep buying. The real problem with deflation is that governments need inflation to pay off their debts. Inflation is how governments have robbed Americans of purchasing power and hidden the ill effects of profligate spending for decades. Central Banks and governments all over the world are trying, and failing, to create inflation. Now they are terrified that slow, or no economic growth may finally be creating a deflation, which means debts will become more difficult to repay. What the mainstream media isn’t telling you about lower oil prices is, major economies all over the world are stalling, lowering demand for energy and everything else. The EU, Japan, China, Russia, India, Brazil, even the US have anemic economic growth, or they are contracting. Housing is not cooperating with efforts to stimulate. Half the people in this country make less than $28,000 a year, the average college graduate has at least 26,000 dollars in debt, making some wonder what the millennials will be buying houses with. Years of anemic economic growth is taking its toll in people out of the labor force, stagnant wages and substandard job creation. The statistics look good, but don’t tell the real economic story in the United States and the rest of the world; Things aren’t going so well. The gathering storm isn’t deflation, it’s the political reaction to it. Bill Gross said recently, stimulative efforts by governments and central banks aren’t ‘working as well as they used to’. The cure? More of the same! What about the idea that what they’re doing just isn’t working? Politicians aren’t addressing this issue at all, whether they be democrat or republican. Does this mean a disaster is brewing? Democrats want to double down on failed economic policy (basically print and borrow more money) and Republicans don’t seem to have an agenda which will lead to the growth we need. Add to this, chaos in the world as the US withdraws … a confused foreign policy … and you have a recipe for disaster; A gathering storm. Sponsored by Ryan Plumbing and Heating of Saint Paul and by Depotstar.

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