Some of you know that I do a daily (Monday - Friday and Sunday) newscast called Insight on Business the News Hour, now in it's eleventh year. For weeks, on that program, I have said investors on Wall Street are living in La-La Land as they ignored the warning signs of the coronavirus outbreak. That same "Land of La-La" is where the president lives. Welcome to Sunday Morning Coffee my weekly political blog with a splash of religion, just to keep things stirred up. Ready? Let's go!
Coronavirus
Stay with me on this...because it's important. The inability of some of the "smartest people on the planet" (Wall Street investors according to the president) and the president himself to fully understand the economic impact of what is sure to become a pandemic is...staggering. Denial, it would seem, is very powerful. Last week, on Tuesday, the president blamed the media as the Dow Jones Industrial Average fell by more than 1,000 points from its Friday session. He said it was "media hysteria".
Then on Tuesday the Dow dropped by over 800 points wiping out the gains of the entire year. On Wednesday the president blamed the Democrats. Here is what he said, “I think the financial markets are very upset when they look at the Democrat candidates standing on that stage, making fools out of themselves, and they say, ‘If we ever have a president like this,’” “When they look at the statements made by the people standing behind those podiums, I think that has a huge effect.”
But there’s a problem: The Democratic debate in question took place on Tuesday night, after American markets closed for the day. By then, the Dow had already endured two days of significant losses — 1,032 points on Monday and another 879 points on Tuesday.
In total, last week, Wall Street had its worst week since the start of the financial crisis in 2008 and by Saturday the United States reported the first death...but they even got that wrong. The president announced at a news conference on Saturday that a "50 year old woman had died in Washington State". Except it was a guy. Then they went on and under-reported the number of cases identified in the U.S.
But, he did put Vice President Mike Pence in charge of the response. The same guy, as governor of Indiana, failed to respond to the HIV crisis in his state. Why? Well, it's sort of a religious thing with Mike.
While "45" can get away with "pussy grabbing" and inviting our enemies to meddle in elections and lie, daily, to the American people...this may just do him in. Why?
"It's the economy, stupid."
For years "45" has said the economy is the best it has ever been. And, while 55% of Americans own stock (including 401k stock) the economy sucks for nearly everybody but the wealthy. Now, as retirees see their portfolio shrink it won't take long for them to look toward the White House, that has truly failed in this crisis, and post the blame there.
Even as the president now blames Fed Chair Jerome Powell for not reducing interest rates and telling America in the press conference yesterday that the run on Wall Street is now...the fault of the Fed.
Accountability? None. Incompetence? Plenty. Lies? Many. He even tried to walk back his comment that the coronavirus is a hoax perpetuated by the Democrats...which is what he said on Friday during his South Carolina rally.
You done...yet?
Buying The Presidency
Even before the South Carolina votes were counted last evening billionaire Tom Steyer called it quits. Before you get your underwear in a knot let me say this about Tom: I liked him. He has done some great things in his life and he has rallied many new voters with his NextGen America program. Except he learned that money may not be enough. Now billionaire Mike Bloomberg is on that same mission of buying the presidency. He has flooded Super Tuesday states with millions in television ads that, are at best, misleading if not outright lies.
Will voters fall for it and rally behind him? Oh, let us hope not.
The Biden Win
That Joe Biden crushed the field on Saturday is telling because it is about coalition building. The Vice President is, and always has been, solid with African-American voters. The same can not be said of many of the other candidates in the race. Super Tuesday is in front of us and we'll see how that shakes out and if Sen. Bernie Sanders (I-VT) will lock in all of California as some suspect. However, and this is big, what is the Biden campaign talking about today moving forward? I suspect there have been phone calls made and I would hope one of those calls went out to Sen. Kamala Harris (D-CA) which could, if she endorses Biden have a major impact there. We'll see.
Hunters
OK, I'm hooked. There is a new series that has kept me up late into the night. Prime released the first season of the quirky but also frightening show featuring Al Pacino as Nazi hunter Meyer Offerman. Besides the brutality of the Nazi flashbacks and how the Hunters dispatch Nazis living in the United States the really interesting thing about the series is its deep dive in the the Jewish faith. The Yiddish words, the Hebrew words and the practices are all put out there for many to scratch their heads over. It's really remarkable but, if you are not familiar, you may need to be looking up some words in your Hebrew/Yiddish/English dictionary. Just sayin'. Learn more from IMDb about Hunters here.
One other word of caution...time flies...and if it's 2:00AM and you're still in front of the TV...stop already.
Seems We Knew All Along
Last week word came out that the highest levels of Iowa state government knew about the "testing" of patients at Glendale...but it has a "sexy" backstory so clearly Gov. Kim Reynolds and her clan wanted no part of it. Now, all of a sudden, it's a story and the governor is out on a listening post tour to lift up her latest effort to cut taxes by increasing the sales tax. Oh, sure there is money in this proposal to fund mental health, the outdoors...and tax cuts. It's smoke and mirrors my friends. If Iowa was really, really interested in funding mental health care, education, child care and the environment we would do so without laying on the "tax cut" language. But, it is a way for legislators to take cover by saying, "Sure I supported the sales tax but I'm also reducing your taxes." Image: "Birds of a Feather".
What is needed is Iowa Legislators to do their job and stop playing around. Tell the truth and fund the things the vast majority of Iowans want to see improved: Our educational system, our land, our water, mental health care, health care. Tell the damn truth...for once.
Partly Personal
I'm having trouble realizing that I'm actually getting this out in the 9:00AM hour. That's always the goal however, sometimes, I fail and it becomes Sunday Morning Coffee for brunch.
I want to, just for a moment, thank those of you who have responded to my Iowa State Senate Campaign, Libbie for Iowa. Sunday Morning Coffee has come to you for over twelve years. You know me and you know that I didn't become an active Democrat last week, last month or last year. You know me and you know how passionate I am when it comes to creating a Democrat majority in the House and Senate. Look, while so many of you are focused on the White House make no mistake that what can truly have an impact on your life and the life of your family is not who sits in the Oval Office but who is making the laws that impact Iowa.
For years the Iowa GOP has committed atrocities when it comes to a host of issues that impact the working families of our state. Iowa values have been tossed into the dust by a Republican cabal that hides in plain sight This can not continue and, now, some of you are starting to focus and realize that taking back the Iowa House and Senate is within our grasp. If you are moved to donate, here is that link.
Meanwhile another new Democrat Community Group has emerged. The Democrats of Waukee held their first meeting this past week under the leadership of Corey Suesakul who has become a community organizer. It was a good showing for a first time effort and there were plenty of speakers and friends there for the launch. Thanks Corey for the opportunity to come and talk about why this is so important if we are to flip the Iowa Legislature.
If you live in Waukee, Iowa and want to hang out with a really great group of friends all working for the same goal. Connect with Corey and others on Facebook here.
OK, supposed to be a WONDERFUL day...get out there and enjoy. Thanks for reading!
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