Trump-Republicans-Spending-Debt-Bob Davis Podcast 850

Another Trillion Dollars

This week the president’s budget deal adds a trillion dollars to the National Debt. These days it’s depressing when so called conservatives say, “Deficits Don’t Matter“. Learn more in Trump-Republicans-Spending-Debt-Bob Davis Podcast 850.

Trump Republicans Spending and More Debt

Above all, Trump’s spending is on pace with Obama first term red ink.

I’ll Pay Off The Deficit In Eight Years

Moreover campaigning in 2016, Trump said he’d pay off the deficit in just eight years. In those days the deficit was 20 trillion. It’s now almost 23 trillion.

Current Federal Debt Is Unsustainable? Bring It on!

As the president began his second year in office, the General Accounting Office released a report on the national debt. The current Federal Fiscal Situation is unsustainable, it said. More in Trump-Republicans-Spending-Debt-Bob Davis Podcast 850.

Republicans Addition To Debt Peaks In 2030

In fact, the GAO report showed US debt beginning to rise and peak in 2030, long after Trump has left the White House.

American Cities Are Broke Again

Over 70 US cities are in deep financial trouble. New York City is broke. Los Angeles isn’t far behind. Chicago is in a tailspin. I’ll explain it in Trump-Republicans-Spending-Debt-Bob Davis Podcast 850.

The Amount of Spending And Debt Is Shocking

When it comes to cities, counties and states investigators have to use forensic accounting to find out what’s going on. Even in small towns and counties across the country those investigations are uncovering a shocking amount of spending and debt.

Bonding On Bonding

Even more, states use bonding bills to get around balancing budgets. Therefore creating more debt through bonding.

Corporate Debt Binge

US corporations are on a debt binge too. Corporate debt is skyrocketing. It’s now 45 percent of our GDP. Much higher than during the 2008 crisis and dotcom bubble.

Americans Saved The Economy In The 2nd Quarter With More Debt

In addition Americans are more indebted than they were before 2008. US Household debt is 13.3 trillion in the second quarter. Much of it auto loans. Certainly Americans don’t save enough.

Conservatives Say Don’t Worry

Republicans say debt doesn’t matter and democrats have a new monetary theory. There’s nothing to worry about. Right? The US can “print” as much money as it needs as long as it prints US dollars.

Politicians Handing Out Goodies

Goodies like free college, single payer health, a green new deal, a higher minimum wage and guaranteed full employment are just around the corner. Just simply print money.

[Editor’s Note: In this podcast I used a quote from President Trump saying that he said, “No politician has ever been thrown out of office for not spending money. In fact he is reported to have told Senator McConnell, “No politician has ever lost his job for SPENDING money.”)

Forget Rome, England, Spain, Germany, Venezuela and Zimbabwe.

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Trump-Republicans-Spending-Debt-Bob Davis Podcast 850

 

 

D-Day’s-75th-WW2-Significance-Bob Davis Podcast 838

Highly Significant

I think World War Two might have been the most significant historic event in more than the last two hundred years. These days people don’t think or talk much about the second world war, but we’re living in the world created by it. Learn more in D-Day’s-75th-WW2-Significance-Bob Davis Podcast 838.

Father’s and Grandfather’s War

Like most kids growing up in the 70’s World War 2 was our father’s war. Our grandfather’s war.

Certainly World War 2 was historic. Almost every American family has stories from that war. Family members who served. Army Air Force, Marines, Army and Navy or Coast Guard. The stories fade a little more every year, as our fathers, grandfathers and great grandfathers, mothers, grandmothers and great grandmothers fade too. Inevitably, the significance of that war gets lost in time.

When Everything Changed

What’s most noteworthy is the structure of the world today is the result of World War 2. Especially relevant to this podcast is this. The world that preceded the start of the war in 1939 is gone. The life Americans knew before the war, was obliterated by it. Learn more in D-Day’s-75th-WW2-Significance-Bob Davis Podcast 838.

Governments Run Amok

When I was growing up we’d go to the army surplus store in Hammond, Indiana. We’d pick through the boots, jackets, and tanker goggles. Whenever we could we watched all the black and white movies. ‘The Longest Day‘, ‘The Sands of Iwo Jima‘, ‘They Were Expendable‘ and many others. Those movies miss or gloss over mistakes governments made that got us into that war.

Gold Star Windows Up and Down the Block

I am old enough to remember the faded gold stars in the windows of the old ladies on the block, who’s sons never came home. Some were from the Korean and Vietnam wars, but many were still there from World War 2. They were the most faded.

How Could They Have Survived Omaha Beach?

In addition I am lucky enough to have been to Normandy, and of course, Omaha Beach. I have two takeaways. That hill is close to the water and very steep, and I wonder how anyone could have survived crawling up under fire the morning of June 6th, 1944.

They Didn’t Talk About It…They Did It

In conclusion we don’t think about the war that changed the world. Forever.

These days there’s a lot of talk about making the world a better place.

Those who fought that war, actually did.

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D-Day’s-75th-WW2-Significance-Bob Davis Podcast 838

 

War-Rumors-Iran-Trump-Bob Davis Podcast 832

Presidential Election Ahead…Cue The War Drums

War and rumors of war. This time between the United States and Iran. These days you don’t know what’s real. We’ll talk about it in War-Rumors-Iran-Trump-Bob Davis Podcast 832.

The Devil’s In The Details

In addition I’ll provide details and perspective you don’t get from breathless cable news channels, talk radio and advocate commentators. Once a crisis develops advocacy media will try to convince viewers for or against.

Complicated Issues

Iran is a much more complicated issue.

First of all, at issue is the so called JCPOA. The Joint Comprehensive Plan Of Action.

The JCPOA was signed by all five permanent members of the UN Security Council and Iran during the Obama administration.

Moreover in exchange for Iranians giving up weapons grade uranium some US and European sanctions dating back forty years were temporarily waived.

The Worst Deal Ever…Might Have Been Working

In 2016 republican presidential candidate Donald Trump campaigned on getting rid of the JCPOA calling it ‘the worst deal I’ve ever seen’. In contrast some  sources say Iran was actually abiding by that agreement. By the way, the deal Trump signed with North Korea recently pledging to de-nuclearize the Korean Peninsula was in fact a communique like the JCPOA, with fewer conditions.

Trump Imposes Sanctions

No matter. President Trump has taken the US out of the deal and imposed sanctions last year. Just recently the US has reimposed sanctions on Iran’s oil exports as well as copper, aluminum and steel most recently. The economic effects have not been good for Iran.

Iran Uses Proxies To Retaliate and Threatens To Start Enriching Uranium

Reportedly Iran has retaliated using Houthi rebels in Saudi Arabia to attack oil pipelines and shipping in the Persian Gulf.

Trump Sends The USS Abraham Lincoln

Trump ordered a US carrier battle group into the gulf. The Saudis want Iran ‘defanged‘ and have called for ‘surgical’ US Airstrikes.

24 Hour Cable News Channels and Talk Radio Love War

Here come endless loops of jets leaving carrier decks. Pundits talking over shock and awe. Headlines across the bottom of screens showing US troops in Iraq.

Deja Vu All Over Again

Finally we have been through all this before. It did not end well. In fact it has not ended. The Iranians are not paragons of virtue but they are no Iraq or Afghanistan either.

In conclusion we ought to think about that before we’re snookered into another war.

(Editor’s Note: I refer to PPP when giving Iran’s per capita income at about 22,000 a year. In US Dollars it’s probably about 8,000 a year. In addition I gave Iran’s oil export total as 1.2 barrels a year. Even more it is roughly 1.2 million barrels a day.)

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War-Rumors-Iran-Trump-Bob Davis Podcast 832