Thank you, President Biden. You are a great President focused on what is important. Thank you so much and the First Lady Jill, too.
This Blog is created to stress the importance of Peace as an environmental directive. “I never give them hell. I just tell the truth and they think it’s hell.” – Harry Truman (I receive no compensation from any entry on this blog.)
Friday, June 02, 2023
Wall Street will be naysayers to the expansive growth under the Biden administration because they don't "get it."
By Josh Schafer and Jared Mitovich
...This marked (click here) the 14th-straight month that job creation came in above what Wall Street economists had expected and the largest monthly increase since January.
The data sent stocks higher on Friday as investors continued to expect a pause in the Federal Reserve's interest rate hike campaign will be announced later this month....
Wall Street understands money and the money that comes from the government is especially their concern. The markets are about profit and loss and not about governance.
Let me ask one clarifying question:
"When a President's governance opens OPPORTUNITY to minority populations through sound governing principles, isn't that expanding the economy to include more consumers with more income?"
Former President Jimmy Carter carried out an economic strategy to bring about more opportunity for minorities in the USA. It was mostly rejected as an incompetent economic strategy and the markets and Republicans fought it all the way. It was racist to fight progress in bringing all Americans into the work environment and ultimately the Middle Class and beyond.
May 1, 2023By E. Stanley Godbold, Jr.
As we approach almost half a century since Jimmy Carter (click here) was elected president in 1976, the timing is right to reevaluate his place in history. His and Rosalynn’s legacy will be, as he wished it to be, peace and human rights. As more scholars, journalists and memoirists examine primary evidence and place the Carters in the context of their times, the image of two of the greatest peacemakers of their era emerges.
The turning point in Carter’s life came in 1953 when his father “Mr. Earl” Carter died. Returning to Plains, after resigning from the U.S. Navy to take charge of the family business, Carter was shocked to discover that his father had been quietly giving aid to poor and needy people, both Blacks and whites....
President Biden came into office with the same type of economic strategy. The progression of Biden's economy nearly was identical to Carter's. The reason Biden's administration is successful where Carter's failed is because there is a far stronger recognition of inequality in the USA than before. The change is palpable. Society is going through a paradigm shift.
Biden's strategy is designed to push through change in a way that is unfamiliar to the text book strategies of Wall Street. There is a huge difference between governance and economics of Wall Street. Governance is a matter of confidence that the moral and correct path will bring a change in the country that is benevolent and "good for America." Wall Street doesn't care about what is good for America, it cares about what is good for itself and it's stockholders. Wall Street's focus has NOTHING to do with governance and bringing equity UNLESS the government demands certain performance from companies.
When governance insists on changes that benefit those in society normally ostracized by prejudice it expands the economic markets by bringing folks into them through work earnings, not corporate earnings. The GDP grows and all is good. Not to say there isn't resistance to change, absolutely there is, but, pushing the envelope on that change and enforcing it results in good economic outcomes.
The Biden administration is not taking "no" for an answer and as a result there is incredibly good job growth, more economic purchase power in the markets and Wall Street really has no complaints. Wall Street has grown a consistent amount every month and year. They are making money and plenty of it. Why? Because governance is working, more people are earning and the markets are valuable.
So, while all the Naysayers are complaining about a recession that never happened, they are making money. They are not running away with every dime being generated in the moral working Middle Class, they are making money and the future looks really good for all Americans. The Fed has helped, but, there is plenty of confidence by consumers and that is fueling spending and profits. The growth is good and consistent. There is absolutely no recession in sight and the optimism should continue into the future.
Ya know, I have to laugh at Republicans. They complain about a work ethic that should accompany food stamps and other programs, right? Hello? There is no need for it. Whoever needs food stamps and other programs sincerely need it. You will excuse me, but, "Hey thar, Republicans," everyone is working that wants and can work.
Republican politics is old and boring.
Don't look now America, but, the Republican passed more of their corruption into law.
By Nicola Slawson
Good morning.
The Senate narrowly passed (click here) a bill to suspend the debt ceiling on Thursday night, sending the legislation to Joe Biden’s desk and averting a federal default that could have wreaked havoc on the US economy and global markets.
The final vote was 63 to 36, with 46 Democrats and 17 Republicans supporting the bill while five Democrats and 31 Republicans opposed. Sixty votes were needed to pass the bill.
“Tonight’s vote is a good outcome because Democrats did a very good job taking the worst parts of the Republican plan off the table,” the Senate’s Democrat majority leader, Chuck Schumer, said after the vote. “And that’s why Dems voted overwhelmingly for this bill, while Republicans certainly in the Senate did not.”...
...“The legislation (click here) I am introducing today will tax the obscene wealth gains billionaires have made during this extraordinary crisis to guarantee healthcare as a right to all for an entire year,” said Sanders. “At a time of enormous economic pain and suffering, we have a fundamental choice to make. We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans. In my view, it is time for the Senate to act on behalf of the working class who are hurting like they have never hurt before, not the billionaire class who are doing phenomenally well and have never had it so good.”
“As more than 160,000 Americans have lost their lives and millions more have lost their jobs, it is unconscionable that the super-wealthy are getting even richer in the midst of this crisis,” said Markey. “Despite overwhelming need, Republicans continue to look for any excuse under the guise of deficit reduction to cut vital support programs like jobless aid and health insurance for the most vulnerable. The American people pay with their lives every day for the criminal negligence of the Trump administration to combat the coronavirus. It is time the country’s wealthiest do the same off with their profits.”...