Archive for the ‘Economy’ Category

OBAMA’S INCREDIBLE MOVIE MAKEOVER

Monday, September 16th, 2019

 

This is an extremely informative and interesting article about the subject of Obama’s first film that he and Michele  produced with Netflix.  As you will read, the author of this article is very critical of the part that Obama played in the original closing of this GM plant during the 2008/2009 financial crisis which Obama does not mention at all in his movie .  Talk about chutzpah !!!
I have included the official trailer of this movie and a link to view the entire movie at the bottom of this WSJ article.   Nancy
THE WALL STREET JOURNAL

Obama’s Incredible Movie Makeover

The former president has produced a film about a factory closing—without mentioning his own role in the drama

By Mike Turner,  Mr. Turner, a Republican, represents Ohio’s 10th Congressional District.  He served as mayor of Dayton , 1994 – 2002
September 14, 2019
EXCERPT FROM THIS ARTICLE:  It’s a fascinating and at times moving film. What’s interesting about it, though, is that it never once alludes to the part Mr. Obama played in diminishing the ability of Moraine’s laid off workers to transfer to other GM plants. The president’s role wasn’t indirect and isn’t a matter of dispute: His administration’s bailout deal for GM included a backroom exclusive agreement with the United Auto Workers. The hypocrisy of this Obama-backed film is astounding. Mr. Obama fails to acknowledge his direct role in creating the hardships the Moraine workers weathered. He had nothing whatsoever to do with the plant’s reopening—that was all the work of state and local officials and community leaders.

To put the point bluntly: If the president had his way, there would have been no plant to make a documentary about. “American Factory” would have been “Abandoned Parking Lot.”

Higher Ground, the production company formed last year by Barack and Michelle Obama in conjunction with Netflix, recently released its first film. “American Factory” is a documentary about a General Motors plant in Moraine, Ohio, a suburb of Dayton. The plant closed in 2008 and was reopened by a Chinese auto glass manufacturer in 2015. The film follows the lives of both the laid-off American workers and the Chinese workers brought in to run the new plant.

It’s a fascinating and at times moving film. What’s interesting about it, though, is that it never once alludes to the part Mr. Obama played in diminishing the ability of Moraine’s laid off workers to transfer to other GM plants. The president’s role wasn’t indirect and isn’t a matter of dispute: His administration’s bailout deal for GM included a backroom exclusive agreement with the United Auto Workers.

How does a nearly two-hour film telling the story of these workers fail even to mention the direct role the co-owner of the film’s production company played in creating their hardships? Did the filmmakers think no one would remember?

A quick refresher. The Obama administration’s auto bailout highly favored the UAW and its members. The GM plant in Moraine was unionized by the IUE-CWA. So—despite being one of the top GM facilities for quality, efficiency and production in the country—it was shuttered, and its employees were put at the back of the line when requesting transfers to other GM plants. Any non-UAW employees looking to transfer were forced to start as new hires, wiping clean any wages, tenure, and benefits built up during careers at other GM plants.

American Factory” documents the UAW’s efforts to unionize the reopened auto glass factory without any mention of the same union’s direct role in the GM plant’s closure. The Dayton community was left out in the cold—thousands of jobs lost, families devastated, longtime GM workers out on the street looking for work.

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WARREN’S ASSAULT ON RETIREE WEALTH

Thursday, September 12th, 2019

 

THE WALL STREET JOURNAL

Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy.

By Phil Gramm and Mike Solon Mr. Gramm, a former chairman of the Senate Banking Committee, is a visiting scholar at the American Enterprise Institute. Mr. Solon is a partner of US Policy Metrics.   September 11, 2019

Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of the value of domestically owned stocks, and the same share of America’s total wealth. Households of ages 65 to 74 have an average of $1,066,000 in net worth, while those between ages 35 and 44 have less than a third as much on average, at $288,700.

A socialist might see injustice in that inequality. But seniors know this wealth gap is the difference between the start and the finish of a career of work and thrift, making the last mortgage and retirement payments rather than the first. Seventy-two percent of the value of all domestically held stocks is owned by pension plans, 401(k)s and individual retirement accounts, or held by life insurance companies to fund annuities and death benefits. This wealth accumulated over a lifetime and benefits all Americans.

That means it’s your life savings on the line—not the bankroll of some modern-day John D. Rockefeller—when Democrats push to limit companies’ methods of enriching their shareholders. Several Democratic congressmen and presidential candidates have proposed to limit stock buybacks, which are estimated to have increased stock values by almost a fifth since 2011, as well as to block dividend payments, impose a new federal property tax, and tax the inside buildup of investments. Yet among all the Democratic taxers and takers, no one would hit retirees harder than Sen. Elizabeth Warren.

Her “Accountable Capitalism Act” would wipe out the single greatest legal protection retirees currently enjoy—the requirement that corporate executives and fund managers act as fiduciaries on investors’ behalf. To prevent union bosses, money managers or politicians from raiding pension funds, the 1974 Employee Retirement Income Security Act requires that a fiduciary shall manage a plan “solely in the interest of the participants and beneficiaries . . . for the exclusive purpose of providing benefits to participants and their beneficiaries.” The Securities and Exchange Commission imposes similar requirements on investment advisers, and state laws impose fiduciary responsibility on state-chartered corporations.

Sen. Warren would blow up these fiduciary-duty protections by rewriting the charter for every corporation with gross receipts of more than $1 billion. Every corporation, proprietorship, partnership and limited-liability company of that size would be forced to enroll as a federal corporation under a new set of rules. Under this new Warren charter, companies currently dedicated to their shareholders’ interest would be reordered to serve the interests of numerous new “stakeholders,” including “the workforce,” “the community,” “customers,” “the local and global environment” and “community and societal factors.”

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DEMOCRATIC DOOMSAYERS

Wednesday, August 7th, 2019

 

WASHINGTON EXAMINER

Democratic doomsayers

To hear most of the Democratic presidential candidates is to wonder if their role model growing up was Chicken Little.

In a time of unprecedented peace and prosperity, arguably at the height of America’s power and inarguably at the height of her wealth, they all yell that the sky is falling, while demanding radical solutions to protect the nation from the dragons in their minds.

Sen. Bernie Sanders asserted in Tuesday night’s debate a need to “transform our economy and our government.” Bill de Blasio went further, calling on his listeners to “restructure society” itself, starting by “tax[ing] the hell out of the wealthy.” Spiritualist Marianne Williamson said, “the NRA has us in a choke hold, but so do the pharmaceutical companies, so do the health insurance companies, so do the fossil fuel companies, and so do the defense contractors.” Sen. Elizabeth Warren agreed: “Giant corporations … have taken our government and are holding it by the throat.”

Now put these alarmist comments into context. The nation’s unemployment rate has been at or below 4% for 16 consecutive months, the lowest in half a century. Wages have been rising steadily for seven years. Inflation remains below 2%. Inflation in health-related prices is below even the core inflation rate. The stock market is reaching record highs each month. The poverty rate is at or near historic lows, as are rates of violent crime.

These good numbers don’t even account for the much higher rise in actual standard of living and discretionary leisure time enjoyed in America today.

Abroad, meanwhile, we are at peace. The grand total of fewer than 17,000 troops in even semi-hot, bullets-flying war zones is quite low, and combat fatalities are averaging fewer per year than they averaged per day for most years in Vietnam.

Yet Democratic candidates talk as if America is a dystopian wasteland straight out of science fiction. Marianne Williamson said there is a “dark underbelly of American society,” a “dark psychic force of the collectivized hatred that this president is bringing up.“

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5 MINUTE VIDEO – PRAGER U THE GREEN NEW DEAL

Tuesday, July 30th, 2019

 

5 MINUTE VIDEO – PRAGER U

What’s the Deal with the Green New Deal?
There’s been a lot of talk about The Green New Deal. Beyond the headlines, what is it really? Given our energy needs, is it practical? Can we have an abundance of energy and a clean planet? Alex Epstein, author of The Moral Case for Fossil Fuels, considers these questions and has thought-provoking answers.
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XI JINPING VERSUS TRUMP – A UNIFIED WORLD RULED BY THE CHINESE

Monday, July 29th, 2019

 

THE WALL STREET JOURNAL

Xi Changed My Mind About Trump

The president defends not only U.S. sovereignty but the entire world order.

By Gordon G. Chang   Mr. Chang is author of “The Coming Collapse of China” and is frequently seen on Fox News giving his analysis of China’s latest actions
July 25, 2019
Chinese President XI Jinping proposes a toast in Beijing, April 26
EXCERPT FROM THIS ARTICLE: As the Hudson Institute’s Charles Horner told me by email last week, many world leaders are nationalistic, but Mr. Xi is the only one whose “officially propounded nationalism takes the form of a global imperial vision.” That is consistent with his lawless behavior: treating neighbors as vassals, taking territory, closing off the global commons and intimidating leaders around the world.

“Tianxia,” Fei-Ling Wang notes, “inevitably and even necessarily makes the People’s Republic view and treat its neighbors and eventually all other states as essentially nonequals and lesser entities, to be influenced, controlled and subjugated with force, money, favor, ruse and fear.”

China is not, as some believe, a “trivial state” that seeks nothing more than to preserve its regime and defend its territory. With Mr. Xi pursuing tianxia ambitions, the world could use more of Mr. Trump’s defense of sovereignty, and even a little more “America First.” These concepts are not, as I once thought, unnecessarily provocative. They are a necessary defense of the centuries-old international order against an existential threat.

At first I had no idea why President Trump talked so much about sovereignty. I’ve changed my mind. To be more precise, Xi Jinping changed it. Mr. Trump is the only thing that stands between us and a world dominated by China.

“We do not expect diverse countries to share the same cultures, traditions, or even systems of government,” Mr. Trump told the United Nations General Assembly in September 2017. “But we do expect all nations to uphold these two core sovereign duties: to respect the interests of their own people and the rights of every other sovereign nation.”

Mr. Trump mentioned sovereignty 21 times in that speech. Why? Everyone knew America was a sovereign state, one of nearly 200 in the world. The idea of sovereignty has been firmly established for more than three centuries. Mr. Trump’s defense of it seemed unnecessary.

Yet for more than a decade, President Xi has been dropping audacious hints that China is the world’s only sovereign state. As a result, I have come to believe that Mr. Trump’s defense of sovereignty is essential to maintaining international peace and stability.

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VIDEO – ELITES VERSUS MIDDLE AMERICA

Sunday, July 28th, 2019

 

One of the most hopeful and inspiring speeches I’ve ever heard. I guarantee you won’t regret the 20 minutes it takes.

Senator Hawley’s keynote at the National Conservatism Conference

10,899 views

Published on Jul 17, 2019

This week Senator Josh Hawley (R-Mo.) delivered a speech at the National Conservatism Conference where he discussed the state of American politics today. Senator Hawley also addressed the growing divide between cosmopolitan elites and the rest of America and the need for policies geared toward the great American middle.

 

 

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THE 2020 DEMOCRATS LACK HINDSIGHT – PEGGY NOONAN

Saturday, July 6th, 2019

 

The 2020 Democrats Lack Hindsight

They ignore reality and march in lockstep with their base. Did they learn anything from 2016?

By Peggy Noonan   June 28, 2019

I’ve received tens of thousands of letters and other communications from Trump supporters the past few years, some of which have sparked extended dialogues. Two I got after last week’s column struck me as pertinent to this moment, and they make insufficiently appreciated points.

A gentleman of early middle age in Kansas City wrote to say he’d sat out the 2016 election because he was dissatisfied with both parties. But now he’s for Donald Trump, and the reason “runs deeper than politics.”

America’s elites in politics, media and the academy have grown oblivious to “the average Joe’s intense disgust” at being morally instructed and “preached to.”

“Every day, Americans are told of the endless ways they are falling short. If we don’t show the ‘proper’ level of understanding according to a talking head, then we are surely racist. If we don’t embrace every sanitized PC talking point, then we must be heartless. If we have the audacity to speak our mind, then we are most definitely a bigot.” These accusations are relentless.

“We are jabbed like a boxer with no gloves on to defend us. And we are fed up. We are tired of being told we aren’t good enough.” He believes the American people are by nature kind and generous—“they would give you the shirt off their back if you were in trouble”—and that “in Donald Trump, voters found a massive sledgehammer that pulverizes the ridiculous notion that Americans aren’t good enough.” Mr. Trump doesn’t buy the guilt narrative.

“It’s surely not about the man at this point. It stopped being about Trump long ago. It is about that counter-punch that has been missing from our culture for far too long.”

The culture of accusation, he says, is breaking us apart.

A reader who grew up upper-middle-class in the South writes on the politics of the situation. His second wife, also a Southerner, grew up poor. She is a former waitress and bartender whose politics he characterizes as “pragmatic liberal.” They watched Mr. Trump’s 2015 announcement together, and he said to her, “He doesn’t have a chance.” She looked at him “with complete conviction” and said, “He’s going to win.”

As the campaign progressed, she never wavered. At the end, with the polls saying Hillary, “I asked my wife how she could be so certain Trump was going to win.” He found her response “astute and telling.”

“She told me, ‘He speaks my language, and there’s a lot more of me than there is of you.’ ”

I have to say after a week of reading such letters that emotionally this cycle feels like 2016 all over again. Various facts are changed (no Mrs. Clinton) but the same basic dynamic pertains—the two Americas talking past each other, the social and cultural resentments, the great estrangement. It’s four years later but we’re re-enacting the trauma of 2016.

And the Democrats again appear to be losing the thread.

They’ve spent the past few months giving the impression they are in a kind of passionate lockstep with a part of their base, the progressives, and detached from everyone else.

And in the debates they doubled down. Both nights had fizz. There was a lot of earnestness and different kinds of brightness.

But what Night One did was pick up the entire party and put it down outside the mainstream and apart from the center.

This is what the candidates said:

They are, functionally, in terms of the effects of their stands, for open borders.

They are in complete agreement with the abortion regime—no reservations or qualms, no sense of just or civilized limits.

They’re all in on identity politics. One candidate warned against denying federally funded abortions to “a trans female.”

Two said they would do away with all private health insurance.

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VIDEO US/CHINA TRADE “WAR” EXPLAINED

Thursday, June 20th, 2019

 

 

Lots of stories surround the tariff “war”. Trump realizes that China  is attempting to economically rule the world by 2025. Trump has no intention of allowing that to happen.
We have the capability to stop China from stealing technology and taking jobs from America. This details very clearly the ideology behind the tariffs and the tools we have to stop it.
VIDEO – US/CHINA TRADE WAR EXPLAINED – WHO NEEDS WHO?
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CAPITALISTIC AMERICA

Friday, May 17th, 2019

 

An excellent view of America by a 26 year old young lady from a Facebook post.    Well written thoughts.

I’m sitting in a small coffee shop near Nokomis trying to think of what to write about. I scroll through my newsfeed on my phone looking at the latest headlines of Democratic candidates calling for policies to ‘fix’ the so-called injustices of capitalism. I put my phone down and continued to look around. I see people talking freely, working on their MacBook’s, ordering food they get in an instant, seeing cars go by outside, and it dawned on me. We live in the most privileged time in the most prosperous nation and we’ve become completely blind to it. Vehicles, food, technology, freedom to associate with whom we choose. These things are so ingrained in our American way of life we don’t give them a second thought.

We are so well off here in the United States that our poverty line begins 31 times above the global average. Thirty. One. Times. Virtually no one in the United States is considered poor by global standards. Yet, in a time where we can order a product off Amazon with one click and have it at our doorstep the next day, we are unappreciative, unsatisfied, and ungrateful.

Our unappreciation is evident as the popularity of socialist policies among my generation continues to grow. Democratic Congresswoman Alexandria Ocasio-Cortez recently said to Newsweek talking about the millennial generation, “An entire generation, which is now becoming one of the largest electorates in America, came of age and never saw American prosperity.”

Never saw American prosperity. Let that sink in. When I first read that statement, I thought to myself, that was quite literally the most entitled and factually illiterate thing I’ve ever heard in my 26 years on this earth. Now, I’m not attributing Miss Ocasio-Cortez’s words to outright dishonesty. I do think she whole-heartedly believes the words she said to be true. Many young people agree with her, which is entirely misguided. My generation is being indoctrinated by a mainstream narrative to actually believe we have never seen prosperity. I know this first hand, I went to college, let’s just say I didn’t have the popular opinion, but I digress.

Let me lay down some universal truths really quick. The United States of America has lifted more people out of abject poverty, spread more freedom and democracy, and has created more innovation in technology and medicine than any other nation in human history. Not only that but our citizenry continually breaks world records with charitable donations, the rags to riches story is not only possible in America but not uncommon, we have the strongest purchasing power on earth, and we encompass 25% of the world?s GDP. The list goes on. However, these universal truths don?t matter. We are told that income inequality is an existential crisis (even though this is not an indicator of prosperity, some of the poorest countries in the world have low-income inequality), we are told that we are oppressed by capitalism (even though it?s brought about more freedom and wealth to the most people than any other system in world history), we are told that the only way we will acquire the benefits of true prosperity is through socialism and centralization of federal power (even though history has proven time and again this only brings tyranny and suffering).

 

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MY BRUSH WITH PERSONAL DESTRUCTION – STEPHEN MOORE

Sunday, May 5th, 2019

 

If I remember correctly, wasn’t the unsealing of Obama’s opponent’s divorce papers  in either his Illinois or  U.S. Senate race, lead to Obama’s  win over his opponent? Very  Interesting    The sad state of American politics of personal destruction as conducted by the Left.   Nancy
THE WALL STREET JOURNAL
MY BRUSH WITH PERSONAL DESTRUCTION
By Stephen Moore    Mr. Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks.  He was a senior economic adviser to the Trump campaign in 2016.
May 3, 2019

When President Trump asked me to serve as a member of the Federal Reserve Board, I was honored. I never imagined the storm that would follow. The left and the media instantly launched a relentless campaign against me. Last week a reporter who has covered the Fed for 30 years told me he’d never seen anything like it. On Thursday I reluctantly threw in the towel and asked the president not to nominate me.

I knew that many of my ideas on monetary policy were controversial and outside the box. That’s why the president picked me. My central argument is that economic growth does not cause inflation—an assault on the core belief of the Keynesian economists at the Fed, whose fear of supply-side growth has often misdirected monetary policy, most recently late last year. As someone who worked with Mr. Trump as a senior economic adviser to his campaign, I am thrilled that 3% to 4% growth with stable prices has been achieved, and I believe it can be sustained. I also believe the Fed should stop targeting interest rates and instead focus on a stable dollar by following commodity prices along with other inflation measures as a leading indicator of whether prices are rising or falling.

I was naive. I believed that to be confirmed I would simply need to defend these ideas and my free-market economic philosophy in general. I relished that debate, especially because so many of my harshest critics were completely wrong about the Trump economy.

A majority in the Senate viewed my economic-policy expertise favorably, and my confirmation seemed likely. It helped my case that I had been one of the most outspoken critics of the Fed in December, when it raised interest rates. After a 4,000-point collapse in the Dow Jones Industrial Average, Chairman Jerome Powell early this year backed away from future rate increases and disavowed his December statement that the Fed’s asset sales were on “autopilot.” The market and the economy sprang back to life.

What did me in was not my economic ideas but gutter campaign tactics and personal assaults. I’ve been called an adulterer, a misogynist, a tax cheat, a deadbeat dad, antigay and mentally unfit. A Washington Post editorial warned that I was a “dangerous” pick for the Fed, and a columnist said I could cause a “global financial calamity.” They must imagine I have superheroic powers of persuasion. If appointed, I would have been one of seven Fed governors.

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