BIRTHER IN CHIEF

VIOLENCE

Trump says he has no regrets over saying: he wants to “knock the crap"out of protesters, but will not take  responsibility for the violence.

 “Get him outta there! Don’t give him his coat.” 

“I’d like to punch him in the face, I tell you that.”

“If you see any somebody throw a tomato, knock the crap out of them, would you? Just knock the hell out of them…. I’ll pay for the legal fees, I promise.”

“You know what I hate? There’s a guy totally disruptive, we’re not allowed to punch back anymore. I love the old days. You know what they used to do with guys like that when they were in a place this? They’d be carried out on a stretcher, folks"   

    

No wonder he claims the Chicago fracas was planned by "Sanders Campaign"---the commies

RACIST

Donald Trump on white supremacists: "I don't know David Duke." 

“You wouldn’t want me to condemn a group that I know nothing  about.”

I am the “least racist person on earth”-DonaldTrump. Well that settles that then  -- but I guess the apple does not fall far from the tree: The Donald’s dad was reportedly arrested at a KKK Rally in June 1927, one of seven men arrested “in the near-riot of the parade.” The men were accused of assaulting a police officer. He was eventually released from custody, according to news accounts.

A NYTimes article claims that "all of the individual arrestees were wearing Klan attire."and the Richmond Hill Record lists Fred Trump as one of the "Klan".  

One should not put the sins of the father upon the son. Unless of course as Donald has said: 

                   “My legacy has its roots in my father’s legacy,”

So is he a chip off the old block?

In 1973, the Justice Department’s Civil Rights Division sued Fred and Co. for refusing to rent black people. According to the  Village Voice, “the Urban League sent white and black testers to apartments owned by Trump. The white applicants received the apartments, while the blacks did not. The Justice Department said “Racially discriminatory conduct by Trump agents has occurred with such frequency that it has created a substantial impediment to the full   full enjoyment of equal opportunity.” In 1975, Trump negotiated a consent decree with the DOJ, requiring them to "advertise vacancies in minority papers and list them with the Urban League". But 1978, the Justice Department filed another discrimination suit against the company, alleging that the Trumps weren't complying with the original terms of the 1975 Settlement.

                          The beginning of the ART OF THE DEAL.

QUOTES QUIZ:      Who said   

1.   I want to make my own life a masterpiece. 

2.  This is the epitaph I want on my tomb:"Here lies one of the most intelligent animals who ever appeared on the face of the Earth."

3.   "We are not political whores."

4.  "It is better to live one day as a lion than 100 years as a sheep"

5.     "We do not argue with those who disagree with us, we destroy them"

6.   "There was a time when I had 14 women and took three or four them every evening,"

7.  “The beauty of me is that I’m very rich.” 

Answer at end

Trump is now being compared to Hitler; this is very unfair to his, Trump (f)’s,German heritage.

His role model is Mussolini  

       Answers to quiz:                                                                                                                         
The first 6 quotes are MUSSOLINI; only the last is TRUM (F)’s.#4 is the DONALD'S favourite.

                                                                                      “I’d like to punch him in the face, I tell you that,”

               

TAKE A DEEP BREATH HILARY

TO HILLARY:

REPUBLICANS

Trump(f) winning the delegates,the polls and getting the media cover.

Rubio is done,may even come third in Florida.

If  Kasich does not win well in Ohio he is gone too.
[I know,I know,I should stop worrying about JK coming up on the rails----but but but...]

Cruz is the only one left,[ cut to Mitch McConnell in tears]

                       

  
Trump(f) could  beat you .Canadian Ted [the snake] Cruz can't.
    
 Trump(f) may self destruct.But so might you.

  It's too late for the re--Publicans to cancel their convention.Your campaign should sell tickets to the show.Enjoy the farce and root for none of the above---or maybe any of the above.

The luck [political genius !] of Bill works---blessed by the quality of the enemy.

Democrats


  Bernie  will not catch you.No,really he will not catch you.

 You have been saved by the loyal African American base in 
 Louisiana,Mississipi,Georgia,Arkansas,Alabama and South     Carolina--all states you will lose big in November.

                        

Every Democrat I meet is less than passionate about your candidacy.All of them expect you to win.None of them believes that the BERN is a plausible presidential candidate,let alone President.That includes his most ardent supporters.We are all going to vote/work for you in November --Trum(f) or "The Snake" will ensure that.

You were inevitable the day Joe Biden decided not to run.

This is not the year the Democratic Party will self destruct.It's their turn.

              SO DO NOT INSULT OUR INTELLIGENCE

    Nobody,NOBODY, believes for a second that Bernie was not in favour of the Auto Bailout---that includes you.Most think he would have nationalised the industry;the day after he took over the banks.

 This is not high school,snide claims that this or that vote proves 
the implausable is exactly what annoys adult democrats.Probably does not work in high school either.
  You made this claim in the debate before the Michigan  Primary--how did that work for you?

We can live with  political flip flops;it's in the nature of mass democracy:           

                   Gay marriage                       Immigration
                   Gun control                         Trade Pacts
                   Welfare reform                   Mass Incarceration
                    Iraq War                             Keystone Pipeline

   We all have second thoughts.


 We will suck it up and live through the rehashing of the Clinton    Scandals:

    Whitewater ; Web Hubbel;Travelgate:Crony Capitalism 
    GOLDMAN:Speaking Fees ";Rose Law Firm Records ;             Foundation favors-open checkbooks to curry favour;Private Email Server;Pardongate:Marc Rich(very) et al;The Cattle Futures,Hillary as commodity trader extrordinaire.

   

Philanderer(abuser) in chief:                                                             Troopergate: 
Arkansas troopers assist Bill's  philandering.             GenniferFlowers,PaulaJones, JuanitBroaddric,KathleenWilley and of course poor Monica Lewinsky

and who can forget what "THE MEANING OF IS" is.

  We will have to live with all of this ;but there is no need to "diss"Comrade Bernie -a more genuine man than either of us.

  



In 1998, in response to what she called false media claims that Clinton had raped her, Elizabeth Ward Gracen (former Miss Arkansas and Miss America) recanted a six-year-old denial and stated she had a one night stand with Clinton in 1982.^[23] Gracen later apologized to Hillary Clinton.
Dolly Kyle Browning began writing a "semi-autobiographical novel" about her alleged affair with Bill Clinton. In the publication process, Browning asserted that Clinton did everything in his power to prohibit and undermine publication. Browning sued Clinton for damages, but the US Court of Appeals denied her appeal.
Sally Perdue, a former Miss Arkansas who said she had a four-month affair with him in 1983.
Connie Hamzy, a self-described rock-and-roll groupie, who said Clinton propositioned her in 1984 while she was sunbathing by a Little Rock hotel pool.
Bobbie Ann Williams, a one-time Little Rock prostitute who said Clinton fathered a child by her when he was the governor of Arkansas.
Lencola Sullivan, a former Miss Arkansas and fourth runner-up in the Miss America pageant was claimed to have "sexual relationship" with Clinton.
Susie Whitacre, press aide to Clinton when he was governor of Arkansas.
Clinton's name appears more than 10 times on flight manifests for Jeffrey Epstein's private airliner: a Boeing 727. Epstein was convicted in 2008 in Florida for soliciting underage teenage prostitutes. Court documents show that Epstein used the Fifth Amendment to avoid self-incrimination in a deposition when directly asked, “Do you know former President Clinton personally?” Epstein made the plea in a 2010-2011 civil case between Epstein and Florida lawyer Brad Edwards, who sued Epstein on behalf of some of Epstein’s alleged victims.
  and on and on.

.

Negative Interest Rates---Wassup?

  Amongst my most loyal readers are a handful who know of my extraordinary insights into the workings of the modern economy. Ignoring members of the younger generation who have asked:

                   ”if you're so smart why aren't we rich?"

I have bowed to intense pressure to write this blog on the latest monetary wheeze---

                   NEGATIVE INTEREST RATES

    
     On hearing of this a close relative got quite excited at the prospect of being paid 50 grand a year to borrow a couple of million quid--preferably without collateral. Regretably the bank manager assured us that Barclays had no plans to implement such a scheme. But what does she know; she did not even know how to fix Libor.

    Over the last 18 months negative interest rates have been introduced in Denmark, Sweden, Japan, and Switzerland and by the European Central Bank. That’s over half the world's monetary system. Lord[oops that's next year after he creates the next sterling crisis] Carney has hinted that sterling may be next and even that nice lady Janet Yellin has said that negative rates were "on the table”. Didn’t read about that on page 3 of the Sun or New York Daily News, eh.

    In 2015 about a third of Eurozone government debt issues had negative rates. That means if you bought government bonds you would be GUARANTEED to get back less than you paid. Now we all knew that something like this was inherent in George Osborne's tax policy but at least he had the decency to keep quiet about it. Perhaps we can expect the combined genius of Jeremy Corbin and John McDonnell will be brought to bear to explain how this policy will usher in the Socialist Utopia. So what gives here? And why has it not been at the centre of public discussion?

The chief methods central banks use to implement monetary policy is the buying /selling of bonds to/from the Banking System and by legally requiring banks to deposit cash at the central bank as reserves against future crises of liquidity. I know, I know ,70% of you went to get a cup of tea after "chief methods'' the rest after "legally requiring”. It’s much easier to explain if you studied Euclidean Algebra at Chicago--- a few ∑µ   ≤   zero would no doubt convince; perhaps followed by a J--just kidding.

         A few inscrutable graphs with some lines sloping down and others going straight up would add further enlightenment.

   Suffice to say, the idea is that if banks have to pay to keep their cash at the central bank then they would choose to lend it to business to invest instead. This of course is what banks were invented to do in the first place. So why are they not doing it [enough] now anyway? Well, partly because most corporations are awash with money and are averse to investing when they are anxious about final demand .         Apple,Microsoft, Amazon ,TELCO et al cannot get rid of their cash flow and even the car manufacturers are self financing.

  There is NO disagreement that worldwide demand is anemic and should be increased. The issue is how.

     Central banks cannot determine Fiscal Policy--taxing and spending---so they keep stretching monetary policy beyond the bounds of efficacy. Hence negative interest rates to "incentivise” banks to remove their money from the safe central bank and lend to "productive' enterprise and households.

      Unfortuneately you cannot lend to a corporation--or individual--which will not borrow. There are currently very few large corporate investment programs and those in the minerals and oil sectors---typically major borrowers---have been slashed as a result of the commodities bust.Anyone looking to buy a steel mill? And if you show me a banker looking to lend to a copper mine, oil development, aluminum or some such projects, I will show you an early retiree. Of course companies could -and will-borrow to buy each other, at ever higher prices. But how does that help the economy? ---Oh please!

  Negative interest rates work very well in mathematical models but they are not an incentive for banks to lend to uncreditworthy borrowers, nor for cash rich entities to borrow if they have no plan to invest beyond the resources they already have.

      

If this sounds to you that "it’s as effective as pushing on a piece of string"-- then you have got the point.

   

If this sounds like central banks have run out of ideas and this a policy of desperation---then you have got the point.

If you believe that monetary policy has run its course ---hallelujah ---then you have got the point.

If you also understand that negative interest rates will lead to withdrawal of cash from your banking system seeking a return elsewhere, resulting in a competitive currency depreciation; then you are an economist and very cynical---you have got the point.

    So what to do?

   Abandon austerity---let Greece[Portugal,Spain ]live! Let Greeks work!

 Expand Public Investment in infrastructure, housing and[God help me]even the military to destroy ISIS.It will never be cheaper to build power plants,social housing,bridges or battleships.

 Suspend regressive taxes ---social security, national insurance and sales taxes---for 4 years.

Give each EU citizen  a 5000 euro debit card expiring in 6 months--then give them another one.

Ignore German finance ministers.Then ignore all other German ministers.British ones too.

  In short: Just remember the lessons we already learned from the depressions of the 19th and mid 20th Centuries.

"The biggest problem is not to let people accept new ideas, but to let them forget the old ones.”

John Maynard Keynes