It’s Worse Than You Think

Keeping up with the bad news is an impossible task which makes most Americans think we are in better shape than we really are. I’ll never be able to paint a complete picture – and remember anything I can capture is at best a snapshot in time – but let me fill you in a bit. Let’s explore.

I’ll start with the coronavirus pandemic. To date no country in the developed world has done as poor a job of combating it as America has. National leadership under President Trump has been so close to non-existent that the people have been largely left adrift and it is the actions of responsible citizens that have given us whatever success we have had to date. In fact Trump has exacerbated the problem by spreading falsehoods and hamstringing the state and local officials who were actually attempting to make things better.

Speaking of lies; the Washington Post reported that earlier this month President Trump passed the 20,000 lies mark. Keep in mind two things: first, they are only counting the lies they can confirm as lies at this point. What about all the false and misleading statements he has made that we cannot confirm as such at this point but certainly will be able to in time? Secondly, they are only counting the period of his presidency which is less than four years. If ever America had a president in need of fireproof pants it is Donald Trump.

The pandemic is running wild. Like many prudent Americans I have been basically confined to quarters since mid-March. The reality is that America is in no better shape to combat the pandemic today than it was on the Ides of March. The Trump administration squandered that time period much like they did the advance warnings they received from the intelligence community.

Just this last weekend the state of Florida alone reported over 15,000 confirmed new cases in a single day. To put that in perspective remember we know that testing is grossly inadequate and that at many locations people endured waits of several hours. Then they are often looking at another seven days to get the results. This is at the same time that Trump ally Republican Governor Ron DeSantis allowed Disney World to reopen in Orlando, Florida.

The economy is collapsing before our eyes. The last numbers reported for weekly new unemployment claims were the best in almost three months at 1.3 million. On the surface that might sound good but keep in mind that the average week sees 250,000 new claims. So the best recent week is five times worse than average.

Because they reopened too soon and carelessly, many states are starting to shut back down. Many of the people rehired will be newly furloughed. In too many cases Americans get their health insurance through their employer which means that often when you get the pink slip you not only lose your paycheck, you also lose your health insurance. The New York Times reported that over 5.4 million Americans lost their employer based health insurance between February and May. To put that in perspective 28 states have an estimated 2019 population of less than 5.4 million. Do you think it might serve the national interest for people to have health insurance during a pandemic? I do!

For all the deficit hawks out there here is something to ponder. The numbers came in for June 2020 the other day and the deficit was $864 billion. Don’t forget that is but one month and deficits are added to the national debt. If you annualize June you come in a just a bit over $10.3 trillion dollars. Add that to our current national debt of $24 trillion and you get $34 trillion. Remember our GDP is only about $20 trillion.

All of the above are facts; now I’ll close with a prediction. Trump and his minions keep touting the stock market which, despite several serious downturns, is on net doing great at the moment. First off it is not the economy, but that aside I am among the many that are waiting for it to crash. It is grossly overvalued and is little more than legalized gambling for rich white boys playing with other people’s money. The current situation very much resembles a game of musical chairs. I buy an overpriced stock at 10 in the hope that a bigger fool will come along in short order and pay me 11 for it. At some point the “music” stops and the bigger fool doesn’t come along. Then the fool holding the grossly overvalued stock is forced to sell at a huge loss. (That is when the smart bottom fishing money comes into play.)

It’s bad and under the current “leadership” it is only getting worse. I only see one way out: survive until Election Day, vote Trump and enough Republican Senators out to take back that chamber, then survive the most dangerous 11 weeks in American history until Inauguration Day; it’s not over at that point. Then we have to support Joe Biden as he does what Barack Obama did; lead us out of the hole in what will probably seem a slow and agonizing process.

Trump won’t help you and neither will his minions; VOTE!!!!!!

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One thought on “It’s Worse Than You Think”

  1. I have been saying for years (decades?) that the stock market is way over valued. Now we see it bounce up and down by hundreds of points per day, back and forth. That looks to me like day traders trying to buy low and sell high. I too am waiting for a big crash.

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