Back from our time away in Florida where they drive like maniacs. No really! It seems turn signals have not yet hit the peninsula and the "speed limit" is simply a "suggestion". Yikes! Welcome to Sunday Morning Coffee my weekly take on some of the news you've seen or, perhaps, missed. Let's get started.
Isn't it fun? And, man, are we ever winning! To this point many Americans have just yawned when they heard about the trade war. Pretty soon you're about to wake up to a bad dream. Target, Walmart and Costco have all signaled higher prices and that was BEFORE the threat of tariffs on Mexican items. If and when that happens look for inflationary prices hitting your grocery store. Even some in the GOP are now struggling to support "45" and his tariff tirade. Last week Sen. Charles Grassley (R-IA) finally grew some and said it was bad policy.
And, somebody please explain the economic reality to those who voted for "45". China is NOT paying those tariffs we, the consumers are. That's how it works. But hey...we're "winning"!
This morning a new CNN poll came out and now 41% of Americans favor impeachment. That's up from 37% last month. It's going to take some time for citizens to come to the reality that "45" obstructed justice and must go. Me? I'm all in for impeachment proceedings. If congress fails to start the process then, I believe, our system of laws is over and we go down the road toward an imperialistic, authoritarian state. But, that is what "45" loves. Democracy be damned and let's have a military parade with goosestepping warriors.
Meanwhile Democratic members of congress who are meeting with constituents are getting the message. There is growing discontent with the inaction of congress and voters are demanding action. It is a sudden shift on the part of the electorate and it has been building since Robert Mueller spoke last week and, basically, said the ball is in the court of congress.
I wasn't at the meeting...I was dodging traffic in Florida... but I understand that the Medicare for All Task Force created by the Polk County Iowa Democrats is kaput. What's interesting about this decision by the body is that this group has been meeting and reporting to the elected delegates for two years without a hint of rejection. Now it's gone. What might have changed? My guess is...Joe Biden. Suddenly there was a call to dissolve the task force because, "it's a policy of a particular candidate and the body can not endorse one candidate's policy over others". Never mind that it is a good policy. Never mind that many in the field of candidates support Medicare for All. No, we can not hold the policy of a particular candidate aloft. That candidate? Sen. Bernie Sanders (I-VT). The "establishment" has spoken once again. Isn't winning fun?
To be clear, I was not at the meeting. I'm getting this from my brother who was recently selected to chair the Medicare for All Task Force which had been moving at a glacier pace but suddenly had caught fire. Just my conjecture.
The Name Game
My real business is advertising/marketing. We create the message that creates a desire on the part of consumers for our clients products or service. Been doing this for a very, very long time. That preface is due because I've never been a fan of calling universal health care for America by the moniker of "Medicare for All". It rings flat for those under the age of 60. "Who the hell cares about Medicare? I'm 35 and in great health..." Until you are not. Medicare for All was cooked up because folks thought it easy to explain. I'd rather have us call it what it really is "Universal Health Care". Again, just my opinion...based on what I do for a living. Let's move on.
Our society is quite sick and we are not safe from each other. It would seem that mutual respect, a willingness to have conversation over confrontation is gone. Evil is with us and it seems to be everywhere. There are no words.
Long before the most recent mass murder I sat down with Tom Hudson from Crossroads Shooting Sports for an interview about the business of guns. As many of you know I produce and host a daily newscast about business; something I've done for nearly seven years. So, I was interested in this topic. You might also have an interest. To listen, click this link. I'll tell you, in advance, that some of the statistics mentioned later in the interview seem a bit sketchy based on common knowledge. Anyway, I found the conversation to be enlightening especially the reasons given for the slow down of firearm purchases. Here, again, is that link.
CBD and Iowa
Last week Gov. Kim Reynolds (R-IA) vetoed legislation that would have expanded the amount of THC (the effective compound in CBD-based treatments) from three grams to up to 25 grams in a 90-day period. In her statement Reynolds said, "it would drastically expand Iowa’s medical CBD program far beyond its original scope of CBD-based treatments and that could open the door to significant unintended consequences to the health and safety of Iowans."
Look, I don't know but it would seem to me that Iowa should be doing all we can to assist those folks who have chronic pain issues. Some members of the Iowa Legislature are itching to go back to work and override the veto. We'll see. But, in a state where you can roll up to nearly any convenience store along the interstate and buy liquor this seems to be an issue that is more misunderstood than anything. Thoughts?
Getting back in the swing of things following nearly ten days out is a challenge. There is so much to be done before a vacation and much more to be done when getting back. The weird thing is that I was still responsible for producing Insight on Business the News Hour when I was gone. On vacation but still up before dawn to write and produce. But, I learned a valuable lesson. For years I would stop my "real job" to write the news and then create the newscast and get it out by 5pm Central. But, when gone this time I switched things up and put the podcast out before noon each day. The result was a surge in listeners. And, when you think about it, that makes sense. More time to digest the business news before the business day ends. And, for the timely stuff like the markets...that went out via social media twice each hour in real time. Interesting how habits can keep one from innovation.
Thanks for reading and sorry about the commercial. Have a great Sunday!