May 10, 2018

Was He Tired of Winning?

Politicians always let you down. But if I've a favorite real-live, corporeal politician it would Sen. Phil Gramm (HOSS - TX). He has a guest editorial in the WSJ today: "Trump's Trade Threats Are Hurting Growth"

I know, we've been down this road before. But I wish to appeal to you Machiavellian side. Tax cuts and deregulation (Yaaay President Trump!) set the economy on fire. One should be cautions using the DJIA as a proxy for the economy -- but it roared up thousands of points after the tax cuts (to 26,616), stalled at the trade talk, and remains moribund at 24,772 as I type.

I'm a dollar averager and far from retirement, so I am not complaining, but I think in this instance it is a good proxy. The market and economy loves the corporate tax cut and deregulation. The consumer loves the personal tax cuts (though they're not as pro-growth).

The trade uncertainty contravenes the message and success. Senator?

The University of Michiganís April consumer-sentiment survey noted that respondents who mentioned the tax cuts expressed high confidence in the economy, while those who mentioned tariffs expressed low confidence. The Institute for Supply Management recorded the largest drop in its manufacturing index since 2015, with more than a third of respondents citing tariffs as a source of their worries.

Trump Agonistes Posted by John Kranz at May 10, 2018 10:04 AM

My vote for HOSS (after the imitable, but never matched Ronaldus Magnus) is Mike Pompeo, with Ben Sasse as Miss Congeniality and Tom Cotton as the stern, and steady elder brother.

Posted by: nanobrewer at May 22, 2018 12:11 AM

My mistake: Nikki Haley for Miss Congeniality (all irony intended), and Tom Cotton as runner up. Chief Muckraker goes to either Scott Pruitt or Mick Mulvaney.

Posted by: nanobrewer at May 23, 2018 9:51 AM

Populism Alert: Today I heard Rush Limbaugh refer to POTUS as "Donaldus Magnus."

I believe it was in the context of the NFL kneeling ban.

Posted by: johngalt at May 23, 2018 3:51 PM | What do you think? [3]