Tag Archive: economy

Democrats could learn a lot from the O.J. Simpson murder trial

The courtroom of public opinion

Re-watching the 1995 O.J. Simpson murder trial is quite jarring. Perhaps most maddening is that the prosecution seemed to have a strong case, and blew it with a poor presentation. For example, co-lead prosecutor Marcia Clark‘s questioning of her own witness, Kato Kaelin, was seen as inept, often harsh, and repetitive. Indeed, the questioning of Kaelin was so bumbling that, a week after it began, Clark had to have Kaelin declared a hostile witness. Simpson’s defense attorneys, in contrast, were dynamic and persuasive, constantly outperforming the prosecutors. They spoke plainly (“if it does not fit, you must acquit.”) They did not lose their cool, in comparison to Clark’s frequent displays of frustration and even desperation. They also distracted jurors with conspiracy theories such as racist cops planting evidence. As we know, Simpson was found not guilty in his criminal murder trial.

The Democratic Party, including President Joe Biden, his White House staff and Cabinet officers, Democratic members of Congress and others, could learn from the O.J. Simpson murder trial. The Democrats have done many good things during Biden’s less than 11 months in office, that they should be shouting about from the rooftops. For example, the 2020 Donald Trump recession is over due to the American Rescue Plan. COVID vaccinations are up (and corresponding COVID cases and deaths are down), which has also boosted the economy. As a result, unemployment is down, and jobless claims are down to a pandemic-era low. Congress has passed the bipartisan Infrastructure bill as Biden promised, Biden provided leadership in the fight against climate change at the COP26 conference in Glasgow, and more.

But in perusing the mainstream media, one gets the impression that Biden and the Democrats are doing a lousy job, are facing numerous “crises,” and are in “disarray.” Republicans (amplified by the media) are talking about inflation, gasoline prices, Critical Race Theory, Afghanistan, and other subjects, real or imagined, where the Republicans think President Biden and the Democrats are vulnerable. This raises the question: Why is there such a disconnect between the reality and the impression for the Democrats, similar to what happened to the prosecution in the O.J. Simpson murder trial?

Don’t forget the Trump Recession

Donald Trump’s economy

While the whole country was talking about the presidential debate yesterday, the Bureau of Economic Analysis (BEA), part of the U.S. Department of Commerce, released its “third revised” estimate of Gross Domestic Product (GDP) demonstrating that the U.S. had a record-setting 31.4 percent economic contraction in the second quarter of 2020. This follows a five percent GDP decrease in the first quarter of 2020. In short, under any reasonable definition, we’re in the midst of the Trump Recession.

Moreover, the Trump Recession, including many retail bankruptcies and closures, was caused, or at least made worse and longer, by the lack of an effective national COVID response by Donald Trump and his Republican apologists. As has been well-documented, Trump and Republican politicians downplayed the Coronavirus pandemic, did not help provide enough crucial supplies and equipment, ordered businesses and public venues to be closed too late (if at all), and pressured states and local governments to reopen too early. This was not just one of the worst decisions in history in terms of public health, morality and government, but also one of the worst economic and political blunders in history. Failing to take COVID seriously in order to “boost the economy” did the opposite.

Fabulous framing by Byron Allen regarding Donald Trump

Byron Allen reduces Donald Trump to black “hired help”

We like nothing better than to hear folks effectively frame their political arguments, and yesterday, black media entrepreneur Byron Allen did just that. At a Yahoo! Finance economic conference focusing on recovery from the COVID pandemic, when the subject of Donald Trump calling unflattering or inconvenient news reports “fake news,” Allen said:

President Trump is completely wrong. What he’s not understanding is that he’s nothing more than temporary hired help. He works for the American people. He answers to us, we don’t answer to him.

Allen’s statement is so important as a reminder that, while Trump has locked children in cages, sent armed thugs to kidnap peaceful protesters in our cities, refused to obey subpoenas, enriched himself and his family at our expense, and committed many other deplorable and even illegal acts while in the White House, our Constitution provides that the president is supposed to be the servant of all Americans, not the other way around. That is an important statement about who really has the power in the United States, once they recognize it.

A second brilliant element of Allen’s remarks is that he flipped the script on hundreds of years of U.S. racial history, where blacks literally were brought here against their will as “help,” i.e. as slaves, only to continue to be “hired help” for whites for generations, at substandard wages, after obtaining their freedom. By calling Trump “hired help,” Allen completely reverses this racial stereotype and reminds us that Trump, a white man, is hired to serve black Americans, brown Americans, women, and the rest of us. One could even say that Byron Allen figuratively turned Donald Trump into a black man in terms of Trump’s status in America. And finally, Allen’s description of Trump as “temporary” points us to the light at the end of the tunnel, suggesting that whatever pain Trump is inflicting upon America will end someday, hopefully by next January 20 if enough voters come out and vote the right way this November.

Well done, Byron Allen.

Photo by Kheel Center, used under Creative Commons license. https://is.gd/K7xIVH

 

U of Chicago economists say COVID fears slowing the economy

Pennsylvania Democratic Governor Tom Wolf takes precautions with mask and temperature check

A revealing new study by two University of Chicago economists indicates that fear of COVID (a/k/a COVID-19 or Coronavirus) has had a greater negative impact on the U.S. economy than government-imposed Coronavirus lockdowns, as Americans make their own choices for themselves and their families. Among the findings from Drs. Austan Goolsbee (former Chair of the Council of Economic Advisers under President Barack Obama) and Chad Syverson, based on cell phone records of customers visiting over 2 million businesses:

–“While overall consumer traffic fell by 60 percentage points, legal restrictions explain only 7 of that.”

–“Individual choices were far more important and seem tied to fears of infection.”

–“Traffic started dropping before the legal [shutdown] orders were in place; was highly tied to the number of COVID deaths in the county; and showed a clear shift by consumers away from larger/busier stores toward smaller/less busy ones in the same industry.”

The study appears to indicate that (1) many Americans feared the Coronavirus even though they were being told by Republican politicians not to fear it; and (2) based on the current explosion in COVID cases, those fears were perfectly rational.

Why Trump and the Republicans will lose the election over Coronavirus

Some of Donald Trump’s responses to COVID

As Donald Trump currently trails Joe Biden in many presidential polls and is in danger of losing reelection, one of the great ironies is that Trump’s failed response to the Coronavirus (COVID-19 or COVID) could have been largely averted. In particular, if Trump had acted more like a Democrat, he might be looking at a more likely election win in November, rather than a very good chance of defeat. But Trump and the Republicans are incapable, philosophically and otherwise, of taking the necessary steps to keep us safe and help themselves, our public health and the economy to win the election. Here’s how they failed:

Coronavirus: what should Las Vegas do?

The Las Vegas Strip, in many ways a potential Coronavirus petri dish

During and after the 2008 Bush Great Recession, Nevada and its most populous city, Las Vegas, were hit especially hard. Home prices tumbled, foreclosures and home abandonments exploded, unemployment went through the roof, and construction dried up. Now during the Coronavirus (COVID-19) pandemic, Las Vegas faces even greater odds. At least during the Great Recession, visitors who had the means to visit Las Vegas could still do so, and workplaces that could stay in business financially weren’t forced to close for outside reasons. This time around, however, even folks who are flush with cash aren’t feeling lucky enough to get on an airplane, fly to Vegas, stay in a hotel, and partake of all of the options there, such as gambling, dining, dancing, etc. Hotels, restaurants, casinos and attractions are almost all closed. Conferences, sports events and concerts have been canceled. That puts many thousands of people in the area out of work, and worried about whether Las Vegas can ever recover from its Coronavirus hit, let alone recover in time to save the economy, their jobs and their homes.

Democrats finally come up with a positive theme

President Franklin Roosevelt, who called his agenda the “Fair Deal”

This week, Democratic Party leaders finally revealed their positive unifying agenda for America. On Sunday, House Minority Leader Nancy Pelosi, the second highest-ranking elected Democrat, published an op-ed in the Washington Post. Yesterday, Senate Minority Leader Chuck Schumer, the highest-ranking elected Democrat, published his op-ed in the New York Times. The Democrats are calling their plan “A Better Deal.”  According to Schumer’s op-ed:

Democrats will show the country that we’re the party on the side of working people — and that we stand for three simple things. First, we’re going to increase people’s pay. Second, we’re going to reduce their everyday expenses. And third, we’re going to provide workers with the tools they need for the 21st-century economy.

President Obama’s high-water mark

President Obama at the Tomb of the Unknowns, Nov. 11, 2016.

President Obama at the Tomb of the Unknowns, Nov. 11, 2016.

President Barack Obama is leaving office on a high note. Many people might not remember what it was like when Obama took office in January 2009. The Bush Recession was underway, and America was losing 779,000 jobs per month. Stores were closing. Restaurants were empty. And our treasury was also empty (in fact, trillions in debt) from Bush’s disastrous Iraq War. Obama, with no help from the Republicans, turned things around to the point where he will be turning over a country that, by most objective measures, is doing very well. Let’s take a look at some of those numbers, so that we will have a comparison for the future:

Hillary Clinton, Bernie Sanders and the Democrats unite against Donald Trump

Hillary Clinton and Bernie Sanders during primary season.

Hillary Clinton and Bernie Sanders during primary season.

Today in New Hampshire, Hillary Clinton and Bernie Sanders held a remarkable unity rally in which Sanders enthusiastically endorsed Clinton for president. Standing in front of a giant American flag with his beaming former rival, Sanders said:

Secretary Clinton has won the Democratic nominating process. And I congratulate her for that. She will be the Democratic nominee for president, and I intend to do everything I can to make certain she will be the next president of the United States.

Sanders went on to say, “I have come here to make it as clear as possible as to why I am endorsing Hillary Clinton, and why she must become our next president.”

Both Clinton and Sanders gave substantial speeches at the boisterous event, which highlighted each of their strengths and interests. For example, Sanders focused on economic issues, while Clinton spoke passionately about gun violence, saying, to big cheers, “surely we can agree that weapons of war have no place on the streets of America.” However, one area on which Clinton and Sanders both clearly agreed was the need to defeat Donald Trump in this year’s presidential election. For instance, Sanders said that Trump’s position on health care is the “same old Republican contempt for working families,” while Clinton said, “Donald Trump thinks wages are too high. . . . He does want to get rid of the federal minimum wage altogether.”

Clinton, Sanders and O’Malley show substance at Democratic Town Hall

President Obama and First Lady Michelle Obama after clinching 2008 Democratic presidential nomination

President Obama and First Lady Michelle Obama after clinching 2008 Democratic presidential nomination

Last night, one week before the Iowa Caucus, CNN hosted a Town Hall event at Drake University in Des Moines, Iowa, featuring Democratic presidential candidates Hillary Clinton, Bernie Sanders and Martin O’Malley. The three candidates showed differences in their views and policies while answering questions from the audience of mostly undecided Democratic voters and from moderator Chris Cuomo. But perhaps more striking was the level of knowledge, substance and forcefulness each candidate exhibited on the issues.