Trump Predicts a “Big Bounce” of an Economic Comeback After the Coronavirus Lockdown is Over…Why He is Right

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https://twitter.com/realDonaldTrump/status/1247900240155295745

FoxNews.com reports that

President Trump on Thursday predicted a “big bounce” as he argued the U.S. economy will recover quickly from the massive hit it has taken because of the coronavirus pandemic — despite 16.8 million Americans losing their jobs in just the last three weeks.

As he teased possible deals to help out the ailing airline industry and help oil prices recover, Trump said he was confident that the flagging U.S. economy would come back from the drubbing taken since it was effectively shut down from the current pandemic.

“The economy is just going to do very well,” Trump said at the daily coronavirus taskforce briefing at the White House. “I think we’re going to have a big bounce…we’re going to open up very strong.”

Trump’s bravado was juxtaposed by the staggering jobs numbers from the week in which 6.6 million more Americans filed for unemployment benefits. Those number now mean that one in every 10 working Americans have lost their job in the last three weeks.

The figures collectively constitute the largest and fastest string of job losses in records dating to 1948. By contrast, during the Great Recession it took 44 weeks — roughly 10 months — for unemployment claims to go as high as they now have in less than a month.

The job market is quickly unraveling as businesses have shut down across the country. All told, in the past three weeks, 16.8 million Americans have filed for unemployment aid. The surge of jobless claims has overwhelmed state unemployment offices around the country. And still more job cuts are expected.

More than 20 million people may lose jobs this month. The unemployment rate could hit 15% when the April employment report is released in early May.

The viral outbreak is believed to have erased nearly one-third of the U.S. economy’s output in the current quarter. Forty-eight states have closed non-essential businesses.

The president’s optimistic outlook on economic recovery is not shared by some of the world’s top economists who say there are emerging signs that any recovery will fail to match the speed and severity of the economic collapse that occurred in just a few weeks. The 2020 presidential and Senate elections likely will take place as the world’s largest economy is still attempting to climb back from the deadly outbreak.

“Anyone who assumes we’re going to get a sharp snapback in activity isn’t thinking about how consumers are going to feel. They’re going to be very cautious,” said Nariman Behravesh, chief economist at IHS Markit. “Households and businesses have seen their finances deteriorate. People are buying groceries on their credit cards.”

If there is one bright spot, it is that Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak.

…Trump’s press briefing began shortly after he finished a phone call with Russian President Vladimir Putin and King Salman of Saudi Arabia regarding global oil prices and the Organization of the Petroleum Exporting Countries. Russia recently announced a deal with OPEC to cut down its oil production in an effort to prop up global prices.

Trump has said that output could be cut by as much as 15 million barrels a day, or about 15 percent of global production, though experts said that was unlikely. Instead, OPEC and Russia announced on Thursday that it cut the amount to 10 million barrels per day, or 10 percent of global supplies. Reductions of five million barrels per day are expected to come from other nations to help alleviate the largestt oil crisis in decades.

When I read the above article, I could not believe how absolutely gloom and doom negative that the writer was about Trump being able to restore our economy to the juggernaut that it was before the Chinese Coronavirus came to our shores.

Then I remembered that Rupert Murdoch was no longer in charge of Fox News Channel, his sons and their Liberal wives were, along with Never-Trumper Paul Ryan, among others.

I believe that the major factor concerning the ability for America’s Economy to come back is the amount of Government Aid given to small businesses to keep solvent so that they will be ready to rehire their staff and open their doors when the time comes.

Small businesses are the backbone of our economy.

Mitch McConnell suggested that more money be allotted to small business right now and Nancy Pelosi and the Congressional Democrats denied it because that would get in their way of tanking Trump’s Economy and making America a Socialist Paradise after they win the 2020 Presidential Election.

American businesses must be ready to hit the ground running once this “National Lockdown” is over with.

Any American with common sense knows that no one ever got a job from a poor man or woman.

The Democrats must be maneuvered into cooperating with the President and the Congressional Republicans in the matter of clearing the pathway for businesses to be able to start the engine of Capitalism moving once again.

If this happens, then just as he did the first time, President Trump will once again use his business acumen to help enable American businesses to rehire and run unencumbered.

Americans will work, they will get paid for their work, and they will spend their paycheck at other businesses, who will in turn hire more employees, etc. The same “geniuses who predict that the American Economy will not recover from this “invisible enemy” are the same ones who said that Trump would never be President and, once he was elected, said that the economy was never coming back.

The “Smartest People in the Room” also predicted that 2.2 million Americans would die from the Coronavirus. That number has been revised to 60,000 and will probably be revised to an even lower number.

Never underestimate Americans.

We can accomplish anything that we put our minds to.

Until He Comes,

KJ

Obama Delays Employer Mandate. “I Can Do Anything I Want.”

obamadoctorDateline:  Monticello

At 4:45 POTUS and president Hollande walked out from a portico and strolled in Front of your pool with Leslie Bowman, president of the Monticello Foundation. Looking at a terrace she said that Jefferson loved to admire the landscape from there. POTUS said that he’d like to take a look and seemed delighted to “break the protocol”.

“That’s the good thing as a President, I can do whatever I want” he quipped, walking to the terrace with his guest and Ms. Bowman. Pool now in the mansion as the leaders will come and visit Jefferson’s study.

The comment came around the time the White House announced it would be delaying the Obamacare mandate for some businesses unilaterally.

The French president is here in the U.S. on a state visit”Doling what he wants, evidently means acting as if there is no Constitution, nor 2 other Branches of Government…especially when it comes to attempting to “fix” his Signature Legislation, Obamacare.

WSJ.com has the story…

Most employers won’t face a fine next year if they fail to offer workers health insurance, the Obama administration said Monday, in the latest big delay of the health-law rollout.

The Treasury Department, in regulations outlining the Affordable Care Act, said employers with 50 to 99 full-time workers won’t have to comply with the law’s requirement to provide insurance or pay a fee until 2016. Companies with more workers could avoid some penalties in 2015 if they showed they were offering coverage to at least 70% of full-time workers.

The move came after employers pressured the Obama administration to peel back the law’s insurance requirements. Some firms had trimmed workers’ hours to below 30 hours a week to avoid paying a penalty if they didn’t offer insurance.

A senior administration official said the shift was a response to businesses’ concerns, though the official said no one reason was behind the change.

Under the original 2010 health law, employers with the equivalent of at least 50 full-time workers had to offer coverage or pay a penalty starting at $2,000 a worker beginning in 2014. Last year, the administration delayed the requirement for the first time by moving it to 2015.

The new rules for companies with 50 to 99 workers would cover about 2% of all U.S. businesses, which include 7% of workers, or 7.9 million people, according to 2011 Census figures compiled by the Small Business Administration. The rules for companies with 100 or more workers affect another 2% of businesses, which employ more than 74 million people.

Monday’s announcement of fresh changes comes as the administration weighs how much of the law to adjust in the wake of its troubled rollout. Health care is expected to be a central issue in the November midterm elections.

And, rightfully so.

Obama acts as if we are all merely serfs, and he is the Lord of the Manor, acting completely oblivious to the System of Checks and Balances put in place by the brilliant gentleman whose home he visited yesterday, and the rest of our Founding Fathers.

This is not some Community March he is trying to organize, this is America’s healthcare System, which was already the finest Healthcare System in the World, before he and his mindless minions in Congress started screwing it up.

As I write this, my beloved bride lay in a hospital bed, awaiting a stress test this morning, in order to determine why her blood pressure has skyrocketed.

Needless to say, I am grateful to the One Who Made Me, that Obamacare is not fully implemented, yet.

The harsh reality of my and my family’s future existence being controlled by a Federal Government, who cannot even properly construct a stinkin’ website, makes me glad I place my faith in the God of Abraham and not in a President.

Now, see if you can follow this:

I have actually been told by Liberals and “Fiscal Conservatives” (but, I repeat myself) that I am “selfish” in my concern that, as a lifelong severe asthmatic, I will not have an affordable, life-saving, health insurance plan available to me in 2014, after ObamaCare.

According to projections, which the Obama Administration itself issued back in July 2010, officials knew the devastating impact of ObamaCare three years ago.

Additionally, according to the Federal Register, its mid-range estimate was that by the end of 2014, 76 percent of small group plans would be cancelled, along with 55 percent of large employer plans.

The reason?

Current plans don’t meet the requirements of ObamaCare, which dictate that each plan must cover a list of essential benefits, whether people want them or not.

“Essential benefits” like Free Birth Control and Maternity Care.

Excuse me, Soooper-Geniuses…but, after a certain age, those “benefits” are not longer “essential”.

I am alive today, thanks to the American Healthcare System that your “messiah” and the rest of you Liberal idiots, on both sides of the political aisle, are trying to turn into a money-making arm of the Federal Government, not out of any altruism, but out of an unbridled lust for control of Americans’ lives from cradle to grave.

Take your rapidly-tanking “Affordable Care Act”, along with your over-sized and under-stuffed craniums, do something anatomically impossible…and disappear.

Average Americans, like myself, my family and friends, and the land that we love, will be a lot better off.

Until He Comes,

KJ

Obamacare: Will the Last American Doctor to “Retire Early”, Please Turn Out the Lights?

obamadoctorI was literally raised by 3 doctors. No, I’m not some genetic experiment, like Arnold Schwarzenegger was in the movie “Twins” with Danny DeVito. I was born a severe asthmatic, caused by being born a month premature to a Mother 3 days before her 40th birthday.

These three men worked in the same clinic in Mid-town Memphis, TN. They later went on to become the chairmen of the Medical and Surgery Departments at a local hospital.

Some of my most vivid memories involve laying in one of their examination rooms, with oxygen strapped to my face, as my beloved Daddy waited nervously, by my side.

Asthma treatment back then, consisted of a swig of nasty-tasting yellow Triaminic Syrup, a shot of Epinephrine, an antibiotic shot (usually a Mycin drug), a prescription for prednisone to alleviate the inflammation, and a prescription for an anti-biotic (again, usually a mycin drug). Thank goodness, back then (1960s through early 1970s) Sears, where both of my parents worked, had a really good insurance plan.

My asthma persists to this day, but it has never stopped me. Once I got to high school, I became a gym rat, playing, and later, coaching and playing basketball and working out 6 days a week as a young man. However, at 54, that’s all behind me now…literally.

That being said, I owe my life to those three men of medicine, and the Greatest Healthcare System in the World.

Unfortunately, that Healthcare System, thanks to the megalomaniac who resides at 1600 Pennsylvania Avenue in Washington, DC, is about to go the way of the Dodo Bird.

The latest news revolving around the advent of this American Healthcare Destroyer, known as Obamacare, involves a survey which shows that 6 in 10 of American doctors plan on retiring within 1-3 years of this unwanted program’s inception.

How can a state-run Healthcare System function without any doctors? Answer:  it can’t.

I remember when I was singing with a 15 voice youth choir in the UK, back in July of 1978. My choirmaster’s husband, had some bad l”kippers (lox) one morning for breakfast, and got food poisoning. The hotel sent for a doctor and a nice young Pakistani fellow arrived. When asked how he wound up being a doctor in the UK, he replied that since the British Government took over healthcare, the older doctors had left the profession, and the British Government had to offer special incentives to foreign doctors to move to the UK and fill the empty slots.

Welcome to your future, America.

It has also come forward this week, that Obama and his minions are having trouble coordinating the establishment of the individual State Insurance Exchanges. These are the committees, made up on local hack politicians,  which were to be easy to use, like ordering pizza online, allowing users to fill out basic information, have the government database verify their eligibility, and then enable them to choose among competing insurance plans.

The lofty goals which Obama set for these exchanges have now been replaced with lowered expectations.

According to Henry Chao, an official at the Centers for Medicaid and Medicare Services who is overseeing the technology of the exchanges,

The time for debating about the size of text on the screen or the color or is it a world-class user experience, that’s what we used to talk about two years ago. Let’s just make sure it’s not a third-world experience.

“A third world experience” is evidently what Obama had in mind all along.

But, hey…no worries. We’ll all be blessed with really good, cheap health insurance, right?

Wrong.

According to wsj.com,

The possibility of higher premiums has become the latest focal point of the political tussle over the health law, which marks its third anniversary Saturday. Republican lawmakers have held hearings on the issue, and six GOP members of the House Energy and Commerce committee wrote last week to more than a dozen insurers asking them to turn over internal analyses on the law’s impact on premiums and costs.

The insurance industry has also been talking publicly about big potential premium increases in lobbying for tweaks to the law.

The individual market includes about 15 million people, and around 18% of the roughly 149 million with employer coverage were at small companies, according to 2011 figures from the Kaiser Family Foundation. The individual market is expected to grow to around 35 million people by 2016 as a result of the law.

In a private presentation to brokers late last month, UnitedHealth Group Inc., UNH -1.09% the nation’s largest carrier, said premiums for some consumers buying their own plans could go up as much as 116%, and small-business rates as much as 25% to 50%. The company said the estimates were driven in part by growing medical costs not directly tied to the law. It also cited the law’s requirements that health status not affect rates and that plans include certain minimum benefits and limits to out-of-pocket charges, among other things.

Jeff Alter, who leads United Health’s employer and individual insurance business, said the numbers represented a “high-end scenario,” not an average. “There are some scenarios in which a member could see as much as a 116% increase or over,” he said, though others, such as some older consumers, could see decreases. He said the company dwelled on the possible increases because it was trying to prepare brokers to speak with clients facing big jumps.

There is a push up on Capitol Hill to make Obama have to drop his present “Cadillac” health insurance coverage, in order to experience the horror of this bureaucratic monster which he has created, for himself.

That’s not going to happen. King Barry and Michelle Antoinette will continue to have their cake and eat it,too.

In the meantime, I hope you have your ice floe reserved. I do.

Until He Comes,

KJ

Presidential Debate #1 – Mitt Rocks! Preezy Looks Queasy

Oh, wow! I just watched the worst one-on-one political Massacre since the Ronald Reagan Presidential Debates. In the parlance of professional wrestling: It was a squash match.

Obama looked like he really did not want to be there last night. He remembered his talking points okay, but, he had no fire. He just smirked a lot, as if, somehow this whole thing was beneath a suuuuper-genius like himself.

Even poor old Mr. PBS himself, Jim Lehrer, could not save his bacon last night. However, that did not stop him from trying. At least a couple of times, Lehrer was obviously trying to coach Obama, and it seemed as if Obama was given a lot longer than 2 minutes to answer the questions asked.

Obama was on defense the entire evening.

Gov. Romney, on the other hand, was flawless. He looked presidential and seemed totally prepared. He was respectful, friendly, and merciless. Romney was a Human Jackhammer, riveting him on every point with deadly accuracy.

From the get-go in last night’s debate, it was apparent that the 44th President of the United States of America was waaay out of his league.

By the time the evening was done, Obama looked like one would expect Pee Wee Herman to look after a Hell in a Cell Cage Match with the Undertaker.

TheHill.com summarized the debate in the following manner:

Mitt Romney came out firing on President Obama in the opening minutes of the presidential debate, drawing sharp contrasts with the president’s economic plan and accusing him of misleading the public on Romney’s own plan.

Romney peppered his attacks with memorable phrases, claiming Obama’s policies were “trickle-down government” and that the president was instituting an “economy tax” on the middle class.

“The president has a view very similar to the view he had when he ran four years ago, that a bigger government, spending more, taxing more, regulating more — if you will, trickle-down government — would work. That’s not the right answer for America,” the GOP nominee said.

Obama responded by slamming Romney’s economic plan, saying the GOP nominee hadn’t explained how he’d pay for his proposed tax cuts.

“Governor Romney’s central economic plan calls for a $5 trillion tax cut, on top of the extension of the Bush tax cuts — that’s another trillion dollars — and $2 trillion in additional military spending that the military hasn’t asked for. That’s $8 trillion. How we pay for that, reduce the deficit, and make the investments that we need to make, without dumping those costs onto middle-class Americans, I think is one of the central questions of this campaign,” he said.

Romney charged back that the president was misrepresenting his plan.

“I don’t have a $5 trillion tax cut. I don’t have a tax cut of a scale that you’re talking about,” he said.

“I’ve got 5 boys. I’m used to people saying something that’s not always true but just keep repeating it and ultimately hoping I’ll believe it,” he added.

Economic issues dominated the first 45 minutes of the president debate, the first showdown between the two contenders.

There was a noticeable contrast in the candidate’s demeanor: Romney was much more animated and punchy than the president, who came off as subdued, tentative and at times irritable.

Romney, who has narrowly trailed Obama in recent polls, seemed to be looking to shake up the race with a strong attack on Obama’s record, talking directly to the president as he spoke.

He repeatedly attacked Obama’s record: among his charges were that Obama was instituting an “economy tax.”

“The people who are having the hard time right now are middle-income Americans,” he argued. “Under the president’s policies, middle-income Americans have been buried. They’re just being crushed. Middle-income Americans have seen their income come down by $4,300. This is a — this is a tax in and of itself. I’ll call it the economy tax. It’s been crushing.”

Obama fired back: “I believe that we do best when the middle class is doing well. And by giving them those tax cuts, they had a little more money in their pocket, and so maybe they can buy a new car. They are certainly in a better position to weather the extraordinary recession that we went through. They can buy a computer for their kid who’s going off to college, which means they’re spending more money, businesses have more customers, businesses make more profits, and then hire more workers.”

Romney also charged Obama with doubling the federal debt.

“The president said he’d cut the deficit in half. Unfortunately, he doubled it. Trillion-dollar deficits for the last four years. The president’s put it in place as much public debt — almost as much debt held by the public as all prior presidents combined,” he said.

Obama replied: “When I walked into the Oval Office, I had more than a trillion-dollar deficit greeting me. And we know where it came from: two wars that were paid for on a credit card; two tax cuts that were not paid for; and a whole bunch of programs that were not paid for; and then a massive economic crisis.”

Dr. Charles Krauthammer on Fox News said that Romney “won by two knockouts” and Obama “phoned it in”.

I agree.

Pride goeth before the fall.

This Classless Administration

President Barack Hussein Obama (mm mmm mmmm) has used the People’s House for a campaign commercial. In fact, he used the office where he is supposed to be conducting this nation’s business.

ABCNews.go.com has the story:

President Obama’s newest campaign commercial was filmed inside the West Wing of the White House, an act that campaign finance experts and good government groups generally agreed was legal if not particularly commendable.

In the ad, the president – sitting in the White House chief of staff’s office – lays out his view of the choice voters face this November.

White House officials confirmed that the ad was filmed in the Chief of Staff’s office after ABC News inquired about it, a reporter having recognized the décor. Officials denied there was any concern about the propriety of the president being filmed inside the West Wing in a campaign ad, noting that previous presidents had done so.

Staffers for President George W. Bush say they expressly avoided filming campaign ads within the West Wing itself, though they were under the impression that the White House Residence and outside the West Wing building – the Colonnade — were regarded as acceptable. Myriad Bush 2004 ads featured him walking in the Colonnade.

Previous presidents saw no such lines. When President Bill Clinton ran for re-election in 1996 he was featured in the Oval Office. President Ronald Reagan’s 1984 convention documentary featured the Oval Office and the Roosevelt Room.

He also had his own ad offering his view of the choice voters faced in November 1984, shot sitting at the Resolute Desk in the Oval Office itself.

In 1976, President Gerald Ford was filmed working with his top advisers in the Oval Office itself and speaking directly to camera in an interview with a tell-tale curving wall behind him.

Four years later, President Jimmy Carter was filmed in the Oval Office for a reelection ad.

Meredith McGehee, policy director of the Campaign Legal Center, said the Obama appearance was legal, but it was “an unwise politicization of the highest office in the land.”

“I find it a bit disturbing that he would do it in the West Wing office,” McGehee said. “The Residence is different. Repurposing previous footage is different. But filming in a West Wing office – it may not be precedent-setting but that doesn’t mean it’s the right thing to do.”

Others agreed. “Given that it’s not a solicitation, there’s no specific prohibition against it,” said Melanie Sloan, executive director of Citizens for Responsibility and Ethics in Government. “Whether it’s the best idea, I think that’s a separate question. Americans like to think the West Wing is sacrosanct and used only for official business.”

The Obama White House has never exactly been known for its class and decorum…nor for long hours spent in the Oval Office.

While President Reagan would get into the Oval Office at the crack of dawn, Obama arrives at 10:00 a.m…the crack of brunch.

And, while Reagan always wore a suit coat or sports jacket while working in the Oval Office, out of respect…Obama wears a shirt…with the sleeves rolled up.

While other presidents would have beautiful Christmas trees with ornaments of silver and gold, Obama had one with ornaments of Chairman Mao.

While Reagan said

This is the last day of Small Business Week, so I’d like to mark the occasion by speaking about the importance of entrepreneurs and how we’re trying to help them.

When you think about it, every week should be Small Business Week, because America is small business. Small firms account for nearly half our jobs; they create some 60 percent of new jobs; and they’re on the cutting edge of innovation, providing products and ideas for the future. Everything from ballpoint pens to FM-radios, automatic transmissions and helicopters was conceived in the minds of entrepreneurs-men and women who had the spirit to dream impossible dreams, take great risks, and work long hours to make their dreams come true.

…Entrepreneurs have always been leaders in America. They led the rebellion against excessive taxation and regulation. They and their offspring pushed back the frontier, transforming the wilderness into a land of plenty. Their knowledge and contributions have sustained us in wartime, brought us out of recessions, carried our astronauts to the Moon, and led American industry to new frontiers of high technology.

We came to Washington confident that this small business spirit could make America well and get our economy moving again. Well, it’s working. And we want to keep on using that special principle of giving by putting America’s destiny back into the people’s hands, providing you new incentives to save, invest, and take risks, so more wealth will be created at every level of our society.

We know small business is ready. That group fared better during the recent recession, laid off less workers than big business, and will recover faster. Over the last 2 years, you heard about the high rate of small business failures. You heard about it over and over again. What you didn’t hear very often was that in 1981 a record 580,000 new businesses were formed. And 560,000 new enterprises were begun in 1982. They’re the seeds of lasting recovery.

Governments don’t reduce deficits by raising taxes on the people. Governments reduce deficits by controlling spending and stimulating new wealth, wealth from investments of brave people with hope for the future, trust in their fellow man, and faith in God.

Obama said

If you’ve got a business–you didn’t build that. Somebody else made that happen.

So, given Obama’s history during his first and only (please, Lord) term, there’s only one thing I have to say about him doing something as classless as shooting a campaign commercial in the Oval Office:

I’m shocked, I tell you. Shocked.