14-32 Crashes and Recessions | Bidenomics, Kamalanomics, and Walzonomics

14-32 Crashes and Recessions | Bidenomics, Kamalanomics, and Walzonomics

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Show 14-32 Summary: Why talk about economics? Because the number one issue for most voters is economics. So if you want to influence how people might vote, you need to know the economic issues at stake and the differences between a Trump administration and a Kamala one. Poor jobs numbers caused the recent stock market crash. Was it just the unemployment numbers and the triggering of the 100%-accurate Sahm Rule that indicates we’re in a recession? Or did the economy not have faith in the guy with dementia allegedly in charge of it? Expect more downturns if Kamala and Walz get elected. The single best answer to Bidenomics, Kamalanomics, and Walzonomics is something we know works: Trumponomics.

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Original Air Dates: August 10th & 11th, 2024 | Guest: Jonathan Williams

This Week – Bidenomics, Kamalanomics, and Walzonomics

This week, it’s about economics, a topic that surveys repeatedly show as being the number one or near the number one issue for voters. We talk with Jonathan Williams from the American Legislative Exchange Council to take a look at the stock market crash beginning Friday August 2nd and rolling over to Monday. And the lingering jitters as a result of it. Are we one market correction away from a major recession?

Then we look at Bidenomics, Kamalanomics, and Walzonomics — all of which get progressively worse because each of those is further left than the previous one. Reagan once said, “The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.” Although we might have a new contender for the one- most terrifying word — Kamalanomics.

We don’t know what Kamala thinks. We don’t know if she thinks or is just spouting what other people tell her to think. But she has said she “loves Bidenomics!” and that she will get rid of the Trump tax cuts on day one if elected.

If you thought Bidenomics was bad, Kamalanomics will crush you. And Walzonomics would be even worse because he’s an avowed socialist.

Well. The answer to Bidenomics, Kamalanomics, and Walzonomics  is something we know works. Trumponomics. So we also take a look at some of Trump’s solutions. But with so much to talk about, time ran a bit short so we’ll have to take a look at his solutions in more depth on a future show.

Socialism is Not Neighborliness

Sorry Governor Walz, socialism is not neighborliness. Socialism is not kind. Socialism is not neighborly. Not even close.

Socialism is about total government control. It is the nationalization of the economy. And that only happens through the control of resources and the means of production, which happens through the end of private property. And if you don’t like it, socialism is imposed at the end of a gun.

Do you threaten your neighbors with guns, Governor Walz?

Our founders knew that without private property there really is no freedom.

Socialism deprives people of their incentives to do better. Their desire to succeed because it punishes those who try — as more and more “neighbors” lay their claim to someone else’s success and demand their piece of it bec they have been told they are entitled to it

I don’t know what kind of neighborhood you live in, Walz, but most neighbors I know don’t think that they are entitled to take someone else’s lawn mower.

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Show Notes: Research, Links Mentioned & Additional Info

  • Jonathan’s organization is ALEC – the American Legislative Exchange Council. Find out more at ALEC.org.
    • Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them! Send them this link: https://alec.org/membership/.
    • And you too can join as a private-sector member!
    • You can follow Jonathan on Twitter at @TaxEconomist.
  • Head to Rich States, Poor States to see how your state is doing. And for a taste of what Kamalanomics and Walzonomics would be like, check out how badly Minnesota is doing under governor Tim Walz. (Hint: worse than Oregon!)
  • Check out Trump’s platform, “Agenda 47.” A 20-point plan, much of which focuses on the economy.

The Stock Market Crash and Recession

  • Dow drops 900 points, Nasdaq craters 2% in global market rout (CNBC, August 5, 2024)
    • Fears of a U.S. recession were the main culprit for the global market meltdown after Friday’s disappointing July jobs report.
  • Stocks routed in Asia, tumble in Europe as markets fear U.S. recession in wake of weaker than expected jobs report (CBS, Aug 5, 2024)
    • Japan’s benchmark stock index plunged 12.4% on Monday, compounding a global market rout set off by investor concerns that the the U.S. economy could be headed for a recession.
  • This recession indicator is flashing red, but the ‘Sahm Rule’ creator says ‘this time really could be different’ (Fortune, August 2, 2024)
    • “The Sahm Rule’s accuracy rate is 100% going back to every recession since the early 1970s.”
  • Unemployment Rate Spike Triggers ‘Sahm Rule’ Indicator, Signaling Potential US Recession (The Epoch Times, August 5, 2024)
  • Fury as Biden tries to defend his record – as stock market meltdown intensifies in afternoon trading in blow to 401(K)s (UK Daily Mail, August 5, 2024)
    • “Wall Street’s most watched gauge of investor anxiety logged its largest ever daily jump on Monday. [The Cboe Volatility Index or VIX] hit the highest level in four years — when it last spiked as Covid shut down the economy.

Kamalanomics

Walzonomics would be Worse than Kamalanomics

 

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