Podcast 298

Heavy Stories. In the first of two podcasts for the weekend of January 23rd, 2015…the heavy stories. Lots of talk about the State of The Union, whether or not a Republican Congress can govern, factions forming in the House, and all the other static. These stories have obscured for the time being, discussions of the effects of the price of oil. The low price of gas is almost always celebrated by the media as a ‘good thing’ since ‘reductions in the price of gas, act like a tax cut on the economy’. While it is a pleasurable to experience to fill up your tank for less than thirty dollars, throw in a car wash and come away with change from your fifty, we still have a long way to go before the ‘tax cut’ experience kicks in. Suddenly though, the story line has changed. Media outlets and pundits who enthusiastically endorsed lower oil prices as ‘acting like a tax cut’ are suddenly decrying ‘deflation’ in the economy, and writing stories about how deflation can only lead to ruin, and ‘something’ must be done. Meanwhile, the price of beef, milk, cheese, rice and other staples at any store, whether it is a Walmart or a ‘Whole Paycheck’ aren’t ‘deflating’ very quickly. And since wages have not kept pace with even moderate inflation, Americans will need to see further reductions in the rate of inflation (Disinflation) before the celebration begins. And what about those media outlets? Why they have found a new story line … horrible and giant oil companies that are suddenly laying of noble workers in North Dakota and Texas. What will happen when companies start laying people off, due to reduced pricing power? (Editor’s Note: They don’t mention that energy price inputs for companies are also getting cheaper.) Why is the specter of deflation terrifying? Because as money becomes worth more (lower prices mean you can buy more) if you are in debt, it makes paying back the debt that much more difficult. And, the world’s central banks are carrying a lot of debt. So are companies and individuals, and your good old Uncle Sam. Moreover, this nonsense about the United States being economically decoupled from the rest of the world is being exposed. If the rest of the world slips into recession because of bad economic policy and bad monetary policy, and bad political leadership, why would the United States escape the pain, since our policy and political leadership is just as bad as say, Europe, if not worse. This — and many other issues — will also be discussed this weekend at the SD-61 Chili Dinner AND CONTEST in South Minneapolis. Come on out! Sponsored by Mycompletebasement.com.  (Editor’s Note: 06:38 Hours: Well, I just google mapped Midland Texas and characterizing it as in the Dallas metro, is a bit of a stretch, in fact it’s more like the splits. Midland is west of Fort Worth, close to Odessa so it really isn’t as to Dallas as Plymouth, Minnesota is to Minneapolis. I seem to remember a trip to Dallas, seeing an exit for Midland and it seemed a lot closer than it looks on the map.)

Podcast: Play in new window | Download (Duration: 37:20 — ) | Embed

Subscribe: Apple Podcasts | RSS

Podcast 259

Road Trip Pt 1. From southern Minnesota to Iowa, over to Indianapolis in one night, on the first leg of the East Coast Road Trip, Pt 1. A stop at the largest truck stop (anywhere?), along I-80 in Iowa. Or somewhere. How do you get from Minneapolis and Saint Paul to Virginia? Do you go 94 to 39 to 74 to 65 to 64? Do you go across the Indiana, Ohio and Penna Turnpikes? Do you go the southern route? A tortured path to Virginia, avoiding snow squalls and winter warnings all the way. Anything for Thanksgiving with the family, right? Especially when you’re cooking Thanksgiving dinner. Hauling ass! Along the way, breaking news coverage of the two big stories; No indictment from the Grand Jury in Ferguson, Missouri … and Defense Secretary Chuck Hagel is resigning … some say due to pressure from the White House. (Editors note: Somehow I find myself out of synch with the two big stories of the week; Ferguson and Bill Cosby.) More and more it seems the media has a symbiotic relationship with victims, protesters or the otherwise aggrieved. They seem to feed on each other, whether there is a story there, or not. Meanwhile, the media continues to ill serve the American people. Forget ‘objective’, as in ‘both ‘ sides of a story. We’re talking about just getting the facts out. They just can’t seem to do it. Witness the actual live reporting as we drive across the Midwestern US, via scratchy AM radio. “Yes, I hear pops. I can’t say its gunfire, but…”. Really? All you need is a Guy Fawkes mask and a hoodie these days, and you’re a bonafide protester. Now. What to protest. Hey, my neighbor says he was raped by Bill Cosby! Is that good enough? Procedure? Evidence? Well reasoned arguments for and again? Forget it. The road beckons, and it is a good thing. Only thing to think about is avoiding black ice, and keeping your speed up. Sponsored by X Government Cars. 

Podcast: Play in new window | Download (Duration: 31:35 — ) | Embed

Subscribe: Apple Podcasts | RSS

Podcast 256

Obama’s Executive Orders. As we head into the weekend, we’re in the middle of a political firestorm. The President has issued orders granting a 3 year amnesty to a selected group of illegal immigrants. To begin with, the major broadcast networks refused to give the President air time, which infuriated the White House. Staffers complained the networks had given President George W. Bush airtime to announce the National Guard was being sent to the southern border to assist in security, in 2008. The networks retorted that Bush’s announcement was a bipartisan enforcement of existing immigration law. Kind of a slap in the face to the current administration, and from the major mainstream media broadcast networks no less. However, don’t think the networks are finally coming to their senses. Maybe it’s just that the President doesn’t command the kind of audiences he used to, given a popularity rating hovering around 40 percent. The biggest problem with the President’s executive order? Not long ago, he himself said he didn’t have the authority to make law. Whether or not the President’s orders are legal will have to be determined going forward with lawsuits and legislation. Largely though, it will be a matter of public opinion, due to the fact that courts are loathe to intervene in disputes between branches of the federal government. In the end this will be worked out through the ballot box, and citizens will have to decide whether they think the President overstepped authority. It is certainly true Congress chose not to act on immigration, which is itself acting. It is also true that courts have suggested the president’s authority to act through executive orders has limits. One of the key questions is whether he has usurped the congressional constitutional responsibility to legislate and whether he has refused to enforce the law in this case, which could end up creating a constitutional crisis. This whole controversy drives home the fact that elections – especially Presidential elections – have long term consequences. The reaction to this action churlish action by President Obama should be to organize neighborhoods and precincts, so that attempts to use the office to build support for progressive policy and politicians in the future, won’t work. One of the craziest suggestions this week was that the US should repeal the 22nd amendment, which term limits the US presidency. The argument suggests that if Obama had to run for a third term, he wouldn’t be as likely to issue these kinds of orders. Meanwhile, for the time being the White House has succeeded in taking control of the news cycle. The good news is we can depend on this White House acting true to form, which suggests they’ll encounter a real crisis, which the President will screw up and then we’ll all be talking about that! One person who is thrilled with the executive order … Jonathon Gruber, the ‘brilliant’ MIT ‘economist’ who thinks the voters are stupid, and he is thrilled because for the time being, no one will be talking about his latest video. Sponsored by X Government Cars! 

Podcast: Play in new window | Download (Duration: 23:05 — ) | Embed

Subscribe: Apple Podcasts | RSS