CAIN: HILLARY IS OBAMA 3.0 AND WILL BRING MORE ECONOMIC STAGNATION TO THE BLACK COMMUNITY

CAIN: “When you talk about having less jobs than seven years ago, you have even less in the black community. When you talk about more people on food stamps, you have even more people on food stamps in the black community. This is what Trump is saying you’ve got to address. And you address it with economic prosperity. Not with economic stagnation which is what Hillary, who is Obama 3.0 want to bring to America.”

Related links

johneleven25

Trump or we are finished.
g bridgman

Blacks need to understand that, too.
Archie Alexander

Very good for Herman Cain for telling it like it is.
g bridgman

Herman Cain is a well informed leader that the black community should look up to and listen to instead of calling people such as him “Uncle toms.”
dalacart

HERMAN CAN S A VERY SHARP DUDE,,, NO WONDER HE IS A LEADER IN THIS COUNTRY,,,, WE NEED MORE JUST LIKE HIM,,, THANK YOU HERMAN CAIN FOR YOU HARD WORK FOR OUR COUNTRY,,,, PLEASE CALL AND TALK TO DONALD TRUMP, THIS WOULD BE GOOD FOR OUR COUNTRY.
Debra Hargrove

Based on history, the Democrats are the creator of the KKK, Jim Crow, and Black American Slavery. That alone tells you the mentality, the thinking and true feelings of the members and leaders of the Democratic Party. To me, they sound like they are an Anti-Christ group. Why? Because they do not represent the Fruits Of God’s Spirit. Galatians 5:22-23 But the fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control. Against such things, there is no Law.…

Democrats Ignore Economy: That’s a Huge Opportunity for Donald Trump and Republicans

BY JAMES P. PINKERTON

Economic growth: What a great idea!  Now, if only we could get the Democrats to agree that growth is a good idea, and if only we could get the Republicans to be more persuasive in making the case for growth.

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The Democrats don’t want to talk about the almost-stalled economy; they would rather talk about “fairness” and  Whenever possible, today’s Democrats wish to shift the discussion completely away from bread-and-butter economics, to diversity, multiculturalism, #BlackLivesMatter, “climate change,” and so on.  And most of all, of course, Democrats want to talk about the purported evils of Donald Trump.

That’s very different from Democratic President John F. Kennedy — whose tax-cutting policy should be a model for the GOP.

The forthcoming book by Larry Kudlow, an economist in the Reagan White House and, more recently, a CNBC host, and Brian Domitrovic, a senior associate at the Laffer Center for Supply-Side Economics, is a strong first step for the GOP.

As Kudlow and Domitrovic remind us in JFK and the Reagan Revolution: A Secret History of American Prosperity, Kennedy confronted relatively slow growth when he entered office in 1961 after campaigning on the stimulative slogan, “Get the country moving again.” Yet at first, the 35th President was at a loss as to proceed; his economic advisers were all over the place, policy-wise, and Congress had its own ideas.

Kennedy’s solution—arrived at only after two years of internal and external wrangling, as skillfully recounted by the authors—was to propose a massive across-the-board cut in income tax rates.

It might seem hard to believe that the top tax rate back in the early sixties was 91 percent (today it’s 39.6 percent); the authors rightly call that nine-tenths rate “nose-bleeding”—and, of course, it was counter-productive, because nobody could be expected to work or invest in the face of such a confiscatory rate.

The Kennedy tax cut was finally enacted in 1964, after JFK’s death; the top rate was reduced to 70 percent, and, of course, every other worker and investor also got a tax cut.  The result was an economic boom; as Kennedy himself had said in 1963, “A rising tide lifts all boats.”

Yet in the late 1970s, America was suffering through another patch of slow growth, a perverse combination of joblessness and inflation, dubbed “stagflation.”

Once again, it was across-the-board tax-rate reductions to the rescue.  With help from Kudlow, Arthur Laffer, and other “supply-siders”—that is, economists focusing on liberating the productive side of the economy from over-taxation and over-regulation—Ronald Reagan had the same idea as JFK: Cut tax rates, get the economy moving again.  As Kudlow and Domitrovic explain, “JFK’s true heirs returned to the White House in the Reagan era.”

So now we can fast-forward to today, when economic growth is once again a major public concern.  In the words of Heritage Foundation economist Steve Moore,

For years the polls have shown that Americans are hyper-concerned about the economy and job security. That was when the economy was growing at a meek 2 percent.  Now [growing at only] 1 percent, we aren’t just treading water, more families are being plunged underwater.

Then Moore added, acidly, “No wonder Hillary doesn’t want to talk about the economy.”

To be sure, a loyal Democrat would deny that Hillary Clinton’s Democrats aren’t interested in the economy.  So all we can do is look at the record:

William Galston, a top White House domestic-policy aide to Bill Clinton in the 90s, commented on the Democrats’ platform as it emerged in July:

The draft is truly remarkable—for example, its near-silence on economic growth. The uninformed reader would not learn that the pace of recovery from the Great Recession has been anemic by postwar standards, or that productivity gains have slowed to a crawl over the past five years, or that firms have been reluctant to invest in new productive capacity.  Rather, the platform draft’s core narrative is inequality, the injustice that inequality entails, and the need to rectify it through redistribution.

Meanwhile, a few days later, the urban geographer Joel Kotkin, also a Democrat, went even further, lamenting the victory of the greens over traditional lunch-bucket interests, including energy production.  Under the headline, “What happened to my party?” he sighed,

Increasingly, liberals, or progressives, are at best ambivalent about economic growth, particularly in such blue-collar fields as fossil fuel energy, manufacturing, agribusiness and suburban homebuilding.

Kotkin continued, emphasizing the leftward shift wrought by the “Sandersistas” and the harm it will do to blue collars:

In 2012, for example, Democrats touted the environmental and economic benefits of natural gas.  This year’s party platform endorses ever-stricter regulation of the industry, while Sen. Bernie Sanders’ faction demands a quickly decarbonized economy. Ironically, such steps will hurt precisely the blue-collar workers Sanders and his minions allegedly care most about. But the Vermont socialist’s base is not blue-collar production workers, but rather millennials, low-paid service workers and academics with few ties to tangible industries.  Suspicious of broad-based economic growth’s impact on the environment, they . . . favor redistribution of wealth over seriously growing the pie—in effect, contradicting nearly a half-century of mainstream Democratic thinking.

And the actual platform document, when released, conformed to expectations: “The most progressive Democratic platform ever,” crowed Katrina vanden Heuvel, editor of the left-wing Nation magazine.  So let’s let her cheerlead for all the tax increases:

On taxation, the platform pledges to “end deferrals” so that American corporations “can no longer escape paying their fair share of United States taxes by stashing profits abroad.” It supports clawing back tax breaks for companies that ship jobs overseas, eliminating tax breaks for big oil and gas companies, and cracking down on corporate inversions.  It calls for a “multimillionaire surtax,” for closing the egregious hedge-fund billionaire “carried interest” tax dodge, and for raising taxes on multimillion-dollar estates.

And since then, the left has moved even further to the left, toward outright green nihilism: Just a few days ago, NPR headlined a piece asking, “Should We Be Having Kids In The Age Of Climate Change?”  The article quoted one supposed expert: “Maybe we should protect our kids by not having them.” Yes, that’s the green’s final solution: Stop all those carbon-dioxide producers before it’s too late—before they’re born.

So that’s today’s Democrats: They are anti-growth; they are green  zealots, seeking to sacrifice American prosperity on the altar of political correctness.

Okay, so now, what of the Republicans?

Interestingly, both Larry Kudlow and Steve Moore, quoted above, are  now top economic advisers to Donald Trump’s presidential campaign.  And not surprisingly, they have been advocating for the same sort of supply side tax-rate cuts that Kennedy and Reagan advanced so successfully in their time.  Thus Trump’s August 8 speech to the Detroit Economic Club was both Kennedyesque and Reaganesque—and that’s a good thing.

Yes, that’s most definitely good news, because the economy desperately needs effective stimulus.  We might pause to observe: Yes, it’s true that American tax rates are a good deal lower than they were before JFK and RR worked their respective economic miracles, but in past decades, the whole world—most spectacularly, China—has lowered its tax rates and opened up to investment, and so we must stay competitive.

We can observe that this opening up has been good news for world freedom, and yet at the same time, it has been a mixed blessing to middle- and working-class Americans.  Nobody misses the nuclear-armed fears of the Cold War, but in the last few decades, the expansion of China, in particular, has coincided with the contraction of manufacturing and economic activity in the America heartland.

Under the stinging headline, “Bill Clinton’s True Legacy: Outsourcer-in-Chief,” author Jane White observed four years ago in The Huffington Post,

Manufacturers never emerged from the 2001 recession, which coincided with China’s entry into the World Trade Organization. Between 2001 and 2009 the U.S. lost 42,400 factories and manufacturing employment dropped to 11.7 million, a loss of 32 percent of all manufacturing jobs.

In the meantime, as economist Alan Tonelson reports, during the same period, Chinese manufacturing employment increased by nearly 28 million.

So there we have it: In the same decade of the ‘00s, the US lost five million manufacturing jobs, and China gained nearly six times as many.

Given that backdrop—the erosion of the middle class that has occurred under both Democrats and Republicans over the last quarter-century—the American people have a right to question anyone’s economic plan.

And so to win back public confidence, more must be done to convince folks that the benefits will actually flow to them, as opposed to some other country.  As I wrote earlier this month,

Yes, tax-rate reductions, on individuals and businesses, are a help to investment, but what if the money gets invested, not in the U.S., but in Mexico—or China?  Until that question can be answered in a satisfactory way, many, perhaps most, Americans will be skeptical of, even hostile to, upper-bracket tax cuts.

In that same piece, I argued for greater investment in infrastructure and public works as a way of targeting money into the US, and of creating assured jobs in hard-pressed areas.

Of course, another solution is to rethink international trade, as Trump proposes to do; something must be done to restore manufacturing to our sovereign shores.

Indeed, such a pro-Main Street rethink can come none too soon.  Ed Rollins, my old boss at the 1984 Reagan re-election campaign, now a strategist for the pro-Trump Great America Super PAC, noted with regret the increasing disconnect between the Republican Party and Middle America:

The Republican Party became the Chamber of Commerce party and lost its appeal.  It was no longer the party of small businesses—it was for Wall Street and big business.  These debates on trade are because of that shift more than because of Trump.

Some Republicans, especially on the Establishment side, might insist that this disconnect isn’t real, or isn’t really a problem: After all, Republicans did quite well in the 2010 and 2014 midterms.  And it’s true: The GOP is now in possession of the House, the Senate, and most governorships.  However, Republicans have not done well, at all, at the presidential level; they have lost four of the last six presidential elections, and five of the last six popular votes.

Moreover, a closer look at the midterm elections shows something troublesome for Establishment Republicanism: Turnout is declining.

In fact, turnout in 2014 was the lowest since the wartime year of 1942, when millions of men were away in the military.

To be sure, a win is a win, and the GOP can be happy that it has gained all those elected positions.

Yet at the same time, it’s evident that discontented citizens will eventually find a way to register their discontent in unpredictable ways.

And that’s what we’ve seen in 2016 with the rise of Trump—and also, as a somewhat related phenomenon, the rise of Sanders.  And although Trump’s rise is cheering to Trump and his supporters, it is most definitely a threat to orthodox Republicans.

Thus the GOP faces a challenge: Can it keep Establishment Republicans and Trump Republicans in the same coalition?  Can the Party retain even a modicum of unity?  In the short run, that’s no certainty, as we see every day—and in the long run, it’s perhaps even less of a certainty.

None of these points about Republican troubles invalidate the larger wisdom of the tax-rate reductions enacted by Kennedy and Reagan, as well as the new reductions now proposed by Trump.  Today, supply-side economics is as good an idea as it ever was; indeed, it’s urgently needed.

However, as we can see, we need more: We need attention to the demand-side as well.  That is, we need to think more about boosting the buying power of Americans, both as individuals and as a collective nation.  Tax-rate reductions are good, but so, too, are plans to directly boost buying power—that is, add strength to the demand side.

Perhaps I should explain: The surge in production—in China, the rest of Asia, and around the world—has created an over-supply of goods, relative to demand.  That is, even as productive capacity has been built up in what seems to be a bubble, buying power has dwindled.  So we might say: “Bubble, meet trough.”

We can also add: We are now seeing the deleterious impact of the now-familiar syndrome of stagnating workers’ wages; after decades of income flatlining, Middle America simply has less money to spend.

Yet we can step back and observe that demand-deficient world of oversupply today is different from the supply-constrained world of yesterday.  That is, in both the fifties and the seventies, the problem was on the supply-side, not the demand side.  And so the tax-rate-cutting supply-side reforms of the sixties and the eighties were fully justified and necessary.

However, today is different.  Yes, America is choked with taxation and regulation, but the world is increasingly deregulated—there isn’t much red tape in China that a bribe can’t unravel.

So this era is starting to resemble, in ominous ways, the world of the twenties.  That decade, culminating in the October 1929 stock market crash, was followed, of course, by the Depression.  And that’s obviously dreadful precedent.

Hence the need for pre-emptive public-sector investing—on infrastructure and technology, including an upgraded defense, which we need anyway—as well as private-sector tax-rate-cutting.

As we have seen, the Democrats have, by their own ideological choice, dealt themselves out of the economic-growth debate.  That is, in pursuit of their green multicultural utopia, they have chosen to downgrade the basic need for good jobs at good wages.

So now it’s up to the Republicans to step up and make the case for growth—and to do so with a persuasive and comprehensive agenda, fully marshaling the supply side, of course, and also the demand side.

Obama’s chances to sign TPP sink as Senate majority leader says no to vote

The Obama administration’s signature trade deal to establish regulations between a dozen countries in the Pacific Basin has been largely negotiated in secret. Its opponents say these regulations would undermine jobs in the US and work to the benefit of corporations rather than the 12 nations’ workers.

McConnell wasn’t willing to kill the deal completely, however, saying that it could see a vote in 2017 if some changes are made.

“It will still be around. It can be massaged, changed, worked on during the next administration,” he said.

The controversial TPP has made for some strange political bedfellows. Both presidential candidates have come out against the deal, although Democrat Hillary Clinton supported it while serving as secretary of state during President Barack Obama’s first term in office. A number of senators from both sides of the aisle oppose the agreement, including Clinton’s vice presidential nominee, Tim Kaine (D-Virginia), and Republicans facing tough reelection battles like Pat Toomey of Pennsylvania.

“I hope America will stay in the trade business,” McConnell said. “To do that, it’s going to have to be done on a bipartisan basis.”

On Thursday, Representative Joe Crowley (D-New York), vice chair of the House Democratic Caucus,  said that the“onus is on the Republicans” to pass the bill through the end of the so-called “lame duck” Congress by the end of the year. However, Speaker Paul Ryan (R-Wisconsin) said earlier in August that he doesn’t see a point in bringing the TPP up for a vote because “we don’t have the votes,” Reuters reported.

Capture

“It’s hard to say what’s going to happen at this point. I think… quite frankly that the onus is not on the Democratic Caucus,” Crowley said at an unrelated press conference in Long Island City. “I think that the number of votes that are there that are known is roughly about 27. Really the onus is on the Republicans. They control the House of Representatives. Do they have the votes to pass? At this point, I do not intend to support the legislation.”

The TPP has also strengthened divisions between typical foes. Last Thursday, UPS CEO David Abney threw his weight behind the deal.

“It’s going to create jobs, it’s going to create opportunities, it’s good for companies, employees, and our country,” he told Fox Business Network. “The US International Trade Commission said it would be positive from a financial standpoint, that it would increase exports and that it would increase jobs. You have to remember 95 percent of the world’s consumers live outside the US. We need to embrace that future; we need to address that 95 percent of market opportunity.”

Meanwhile, union members employed by the US Postal Service, a rival of UPS, gathered in Miami, Florida on Wednesday toofficially oppose the TPP.

Although McConnell helped Obama muscle a related trade agreement, the Trade Promotion Authority (TPA), through the Senate last year, he’s not sure he wants to put himself in the same position with the TPP. The TPA gives the president the ability to fast-track multilateral deals like the TPP through Congress.

READ MORE: Obama signs bill giving himself fast-track powers for trade deals

“I was aligned with Barack Obama against [Senator] Harry Reid [D-Nevada] and [House Minority Leader] Nancy Pelosi [D-California],” he said. “Almost an out-of-body experience, now that I think about it.”


McConnell’s pronouncement was the inevitable conclusion to his hesitancy about the TPP. He has previously said that the chances of the deal receiving a vote during the “lame duck session” were “slim” or “bleak.

 

US budget deficit approaches $600bn, public debt to reach 77% of GDP

Slower revenue growth and large spending will expand the US budget deficit to $590 billion in the fiscal year ending September 30, according to the Congressional Budget Office (CBO).
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The deficit is expected to be $152 billion more than last year and $56 billion larger than CBO’s forecast in March and will equal 3.2 percent of the country’s economic output.

Such a budget deficit is more than the GDP of Sweden, Poland or Iran. In July, the US posted a $113 billion budget gap, bigger than the economies of Ukraine or Slovakia.

The largest deficit America has seen is $1.4 trillion in 2009, which dropped to $485 billion in 2014. US public debt will continue to grow and is projected at 77 percent of the country’s GDP by year-end.

On Wednesday, US public debt was more than $19.4 trillion, or almost $60,000 per citizen and $164,432 per taxpayer. Federal spending was approaching $4 trillion with Medicare/Medicaid, social security and the military being the largest budget items.

American revenues have grown by less than one percent in 2016 instead of the expected five percent. The reasons are mandatory spending for Social Security and Medicare, the federal retirement and healthcare programs for the elderly, CBO said.

The economy grew only one percent in the first half of the year, but the last months of the year will see a boost, according to CBO, bringing a two percent growth this year and 2.4 percent in 2017. This will add to hiring, putting pressure on inflation and interest rates.

We Are Being Groomed for the Next Big War

PunchFor Pound

+Daniel Price So why does the US want Russian backing Assad if the US wanted to get rid of Assad? And Putin must know what the US is about so is he working with the US or truly independent? Does Russia not also have central banks and bankers? So if they’re not controlled by the NWO, how did they escape control in the first place? If they are part of the NWO, how did Putin become part of the NWO? And I know about the coup in Iran but what about since then? Is Iran still under US control or did true Iranian leaders take back power from the Shah?
enginekid88

Look closely at the State Department spokesman at 6:00. Can you see the snake-face? His facial features appear snake-like to me. That face is very similar to other high profile big shots like: Howard Stern, John Fogerty, Ruth Bader Ginsburg, etc. Anyone else see it?
MeepsGO

6.5 trillion is reported missing from the Pentagon budget this year.. Remember last time 2.3 trillion went missing? Hard to ignore the signs at this point
Lee Vickers

Something 2.8 times bigger than 9/11 on the horizon?
Jay Stimson

The banksters need someone to blame when the western economy collapses.
godbluffvdgg

Regarding the unemployment points at 9:40 the true numbers are far worse than 29%…The supposed population is 324 million..As a business owner for 3 decades (construction) I need a finger on the pulse…My point; The total of workforce participants at the peak of U.S productivity was about 140 million…so if 94 million are “out of the workforce” the real number is closer to 66% are unemployed…Not 4 or 29 %… It is catastrophic… All businesses are doing horrible respective to the late 20th century. Hospitals are closed, super markets are consolidated, malls are closed, small business has been essentially destroyed…Yet, people are buying 100 million dollar apartments, Yachts, exotic vacations etc etc etc…We are in some weird times; economically.
islandonlinenews

I love the way you round up all these clips that really do a good job of exposing the idiocracy.

Even The Mainstream Media Is Now Concerned About A Stock Market Bubble. By Gregory Mannarino

Published on Aug 18, 2016

The HOLY GRAIL of trading systems is here.
To date I have made The Evolution System available to the general public for only brief periods of time and traders all over the world are raving about it-but don’t take my word for it! Check the social networks, chat rooms, forums, discussion boards, and see for yourself what people are saying about
The Evolution System.
The Evolution System is so powerful that I am deliberately limiting it’s availability.
On the first Monday of every month I will release The Evolution System to the general public for 72 hours and it will be available on my publications page, click here: http://www.lulu.com/spotlight/thegame…

Omar Touzani

The Zionist federal reserve is a cancer to the world.
R Schindeler

It’s all a con job. The Federal Reserve is buying time hoping for data that reflects a reversal in the market. It’s all part of the “wealth effect” strategy. The public is being hoodwinked into believing a lie. A genuine PSY-OP breaking every rule in the book of ethics as they having no moral compass.
chicagoelectricbicyc

The Fed will sacrifice their own credability to keep the market propped up. Obama wont approve any rate hikes in 2016.
Mark Patton

The fed know exactly what it’s doing, and that’s “blowing smoke” to desperately hide the truth.
Brother John919

You will see a much bigger bubble burst than 2008 and even 1929 as the dollar crash shortly after the USA Dept hits 20 Trillion.. Many can not ever conceive how much 1 Trillion dollars looks like let alone 20 Trillion.
james gomez

F the fed!!! Big scam. Thanks
Accuracy Marked

Dow had no reason to go much past 13k what is it doing at 18k w/o much new good economic news? Been on the sidelines since 13k dow…and will remain….after it “might” rise to 20k and falls to 7.5k…i’ll get back in.