Wednesday, May 9, 2018

RepubliCon Job

It's one thing to con other people, it's quite another level of dumbfuck to con oneself. The prevailing belief right now is that Trump's tax cuts have prolonged the expansion. Unfortunately, the inconvenient truth is that they did the exact opposite - they shortened it. What we've seen in the past year is a full court press by every con man available. And they did a good job, to be sure...

How long does it take for the Republican Party to admit that their Supply Side policies are a failure? More than thirty-eight years, we know that much. For decades they've run game against their own base of demented hillbillies - outsourcing jobs and industries, expanding immigration, plundering the Treasury, deregulating Wall Street and invading every evil-doer nation known to man. 

Now however it's a little different - this time the joke is on those propagating this contrivance. I've read nothing from anyone in the lamestream or anywhere else pointing the finger at Supply Side Ponzinomics. Go figure. I can't find anyone who admits that a tax cut ten years into an expansion amid rising interest rates, is the dumbest fucking idea ever tried. Which is saying something.

It's an article of faith among the economically illiterate that plundering future generations is the secret to effortless wealth:

But of course, those at the top are totally oblivious to the pain imposed upon those at the bottom. So they don't see it coming. 

Who knew that not giving a fuck about anyone else was their Achilles Heel. We need not expect an apology at the end of all this, so soiled underwear will have to suffice.

What is actually going on right now used to be a well-known phenomenon, known as "crowding out":

"Crowding out is a situation where personal consumption of goods and services and investments by business are reduced because of increases in government spending and deficit financing sucking up available financial resources and raising interest rates."

"Trust, but verify"
- Ronald Reagan