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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.

The I Spy Radio Show Podcast Version

Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. Mondays, after our network of radio stations have aired the show, I Spy Radio is now available on your favorite podcasting platform, or you can grab it right here. See the full list of podcast options.

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

 

14-28 Data Shows Bidenomics Suffering from Economic Dementia

14-28 Data Shows Bidenomics Suffering from Economic Dementia

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Show 14-28 Summary: We’re talking economics and the rather grim picture being painted by the data—if someone actually bothers to look. You know. Like what the media used to do. Hold truth to power. While America’s economy is suffering through economic dementia under Joe Biden, there is not a lot of good news. Not even in supposedly “good” job reports — because they keep revising things down when they think no one is looking. But there are some bright spots ahead. If, and only if, we change who is in charge of our economy. So when will the media stop covering up Joe’s economic dementia?

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The I Spy Radio Show airs weekends, six different times, on seven different stations. Listen anywhere through the stations’ live streams! Check out when, where, and how to listen to the I Spy Radio Show. Podcast available Mondays after the show airs on out network of stations.

Original Air Dates: July 13th & 14th, 2024 | Guest: Jonathan Williams

This Week – Bidenomics: Economic Dementia

Despite the left stream media’s best cheerleading efforts, actual data about the economy is getting out. And it’s not good. Spikes in business bankruptcies. Especially small business bankruptcies. Even personal bankruptcies.

With all the business bankruptcies, and others reporting on the verge of bankruptcy, it’s no wonder that there is also a spike in store closings. If they continue at this rate,

In an America suffering from economic dementia, we need some common sense. Which is why we turn to Jonathan Williams, the Executive Vice President of Policy and the Chief Economist for ALEC. The American Legislative Exchange Council.

Economic Dementia: Did you know?
Under Bidenomics, 27% of Americans say they skip meals due to rising food costs.And 39%  skip meals to make house or rent payments

It seems there is no end of bad economic indicators. (Just take a gander at the show notes below.) A spike in bankruptcies. Cruelly keeping interest rates high Thousands and thousands of store closures. Including discount stores. (How bad is Bidenomics when people can’t even afford to shop at discount stores?) And regulations weighing down businesses. And in the middle of all that Joe Biden and the democrats want to raise taxes? That’s not just economic dementia. That’s economic suicide.

The only way out is to change the people in charge. Because if the definition of insanity is doing the same thing and expecting different results, then electing the same politicians is political insanity.

The left-stream media and democrats have signaled (okay, shouted) they want Dementia Joe to go. CNN, if you can believe it, just fact-checked Biden’s “high-stakes news conference”. Yes. CNN!

Be on the lookout. Joe Biden’s economy has been terrible ever since he’s been in office. But the media has been providing propaganda cheerleading to convince you otherwise. Bt when the left-stream media stops covering for Joe’s economic dementia? That’s when you’ll know the knives are out.

Because no one wins an election when the economy is in the toilet.

The I Spy Radio Show Podcast Version

Trapped under a heavy object? Missed the show? Don’t worry—catch the podcast version. Mondays, after our network of radio stations have aired the show, I Spy Radio is now available on your favorite podcasting platform, or you can grab it right here. See the full list of podcast options.

Show Notes: Research, Links Mentioned & Additional Info

Jonathan Williams and ALEC Links

  • 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.
  • How did Oregon do in the 2024 edition of Rich States, Poor States?
  • Jonathan’s op-ed in The Daily Caller: “Biden’s Pledge To Let Trump’s Tax Cuts Die Has Stirred Up A Hornet’s Nest” (Daily Caller, June 10, 2024)
  • Those blue states that have seen the light: Hawaii and Connecticut: “‘Blue’ States Make Fiscal Progress: Jonathan Williams on American Radio Journal” (via ALEC, June 27, 2024)

Economic Dementia Links & Info

  • Department of Interior shuts down millions of acres of Alaska to all oil, gas and mining activity (Just the News, July 8, 2024)
    • Biden’s Department of Interior blocked 28 million acres of federal land in Alaska from any oil or gas development or mining
    • Biden’s Interior also blocked a 200-mile gravel road that would have connected mining districts in West Central Alaska to a highway that runs through the middle of the state.
  • Bidenomics: 27% of Americans Say They Skip Meals Due to Rising Cost of Food (Gateway Pundit, July 6, 2024)

We have so many economic dementia links, let’s break them into sub-categories.

GDP

Jobs

  • Peter Schiff: More Doom in the Data (ZeroHedge, July 10, 2024)
    • It was especially bad for manufacturing jobs: Zero manufacturing jobs were created in May. And 8,000 manufacturing jobs were lost in June.
  • Payrolls Rise 206K After Huge Downward Revisions As Unemployment Rate Jumps To Three Year High (ZeroHedge, July 10, 2024)
    • May jobs revised from 272K, to 218K (-54K; -24.8%)
    • April jobs revised from 165K to 108K (-57K; -34.5%)
  • June Jobless Rate Triggers Sahm Rule: Recession Imminent? (ZeroHedge, July 10, 2024)

Bankruptcies & Store Closures

  • Business Bankruptcies Jump 34 Percent in First Half of 2024 (Epoch Times, July 8, 2024)
    • In the first half of this year a total of 3,016 commercial Chapter 11 bankruptcies were filed — an increase of 34% from last year
    • Small business filings rose by 61%
    • [Lumber Liquidators] Home improvement chain mulls bankruptcy (Daily Mail, July 8, 2024)
  • US retail bloodbath continues as store closures hit 2,600 so far this year – here’s the full list (UK Daily Mail, May 8, 2024)
  • The death of the dollar store: 99 Cents Only and Family Dollar to shutter hundreds of stores in ‘retail apocalypse’ (Daily Mail, May 26, 2024)
  • Nationwide discount retailer with 1,400 stores sparks fears of mass closures as it mulls bankruptcy (Daily Mail, July 5, 2024)
    • Big Lots has used up most of its cash on hand because of the losses so far this year — on top of  the last two years
    • Big Lots said all of this raises substantial doubt about the company’s ability to continue.
    • How bad is Bidenomics when people can’t even afford to shop at discount stores?
  • Wilco says it could lay off 70 people, close hazelnut processing facility (Statesman, July 8, 2024)
  • Kroger-Albertsons selling 186 Oregon, Washington stores in merger bid (KOIN, July 10, 2024)

Oregon’s Own Economic Dementia