Category: Uncategorized

MY CORONA

Ooh you little deadly one, deadly one.

We thought you would give us more time, Corona.

Ooh you make my blood run cold, blood run cold.

Now you’ve stepped over the line, Corona.

_____________

You’re never gonna stop, never stop, till we shut you down.

Life won’t be the same, be the same, with you still around.

My, my, my, woo!

M-m-m-m-my Corona!

_________________

Don’t come any closer now, closer now.

You just need to give us a break, Corona.

Your power is a mystery, it gets to me.

Not stopping you in time was a mistake, Corona.

___________

Never gonna stop, never stop, till we shut you down.

Life won’t be the same, be the same, with you still around.

My, my, my, woo!

M-m-m-my Corona!

M-m-m-my Corona!

_______________

Parody of “My Sharona” by The Knack.

Stacey Abrams doesn’t have the necessary job qualifications as of today. While Elizabeth Warren would add impressive debating chops to the ticket, she is too old, and her ideology is too far left. The public has never heard of most of the rest of the potential VP candidates. To me, it comes down to Kamala Harris and Amy Klobuchar.

Both of them are qualified to be president. It is clear that there are no meaningful ideological differences between Biden and Klobuchar, while Harris’ views are relatively obscure, which is almost the same thing. Klobuchar arguably would be of more assistance in winning the swing states; Harris would do more to fire up the base, and would pay a debt to the African-American community.

To me, it comes down to two things. First, picking Klobuchar would put her Senate seat at risk; no Republican is going to win Harris’ seat. Second, while the Harris campaign fizzled first, she is actually the more dynamic campaigner; you just have to define the platform for her. She couldn’t figure that out on her own, but it would be done for her as the junior member of the ticket.

I could certainly live with either one, but, in the end, I think balancing the ticket in this context means providing a more exciting counterpoint to Biden’s generic brand, and that means Harris.

Mitch McConnell says Republicans and Democrats should and will come together in the face of a national crisis. Fine sentiments, to be sure, but it would appear that they only apply when a Republican is in the White House and an election looms. In 2009-2010, he took the position that the job of an opposition party was to oppose and regain power, not to help the American people, and the rest is history.

That aside, federal bailouts are inevitable, as they were in 2009, so what should they look like? Here are some general principles:

1. Aid to workers who have lost their jobs as the result of what amounts to a government-mandated recession for public health reasons should be generous and unconditional.
2. Aid to small businesses should focus on keeping them intact, and on keeping workers on the payroll. The assistance should come in the form of very low interest, long term loans tied to continued employment.
3. Aid to larger businesses which amount to public utilities (the airlines and banks, for example) should be in the form of loans and come with lots of strings attached.
4. Large businesses to which there is no compelling public interest attached (e.g., theme parks; cruise lines) should be pretty much on their own. They can use Chapter 11 as necessary.

Here are three keystones of Trumpism:

1. Always send mixed messages to the public. Unpredictability maximizes your freedom to make decisions and keeps your opponents on their heels.

2. Experts are just part of the deep state, and an obstacle between you and your followers. They can’t be trusted; most of the time, history shows they’re wrong, anyway. Put your faith in your ample gut, not science.

3. Bipartisanship is for weenies. Never stop attacking your opponents.

How is this working in a pandemic? Not too well, to date. Collective action, clear direction from the government, and reliance on good science are what is required to mitigate the impacts of the virus. They are the negation of Trumpism.

From Fox News:

The Russian military has succeeded in crushing a massive Ukrainian invasion, according to President Vladimir Putin. The Ukrainians are in full retreat. The Russian army has crossed the border and expects to take Kiev within the hour.

President Trump rejoiced at the news. “There are lots of bad hombres in Ukraine,” he said. “First they tried to intervene in the 2016 election to support Hillary Clinton, and now this. Of course Putin destroyed them. He’s almost as awesome as I am.”

Trump is planning to make his first trip to Kiev to celebrate Ukraine liberation day with Putin once the Russians have taken the city. No members of the deep state will accompany him.

An economic meltdown during the presidency of our Very Stable Genius? Yeah, when Tom Brady leaves New England to play for the Bucs!

Oh, right . . .

Republicans despise the unemployed. They view them as lazy slackers who want nothing more than to lounge in the hammock of dependency at the expense of hard working people like you and me. That is why legislatures run by the GOP always do everything they can to make the lives of the unemployed as miserable as possible, even if it doesn’t save the public any money.

So what will happen with the huge wave of unemployed people that we’re going to see in the next few weeks? Are they going to be subjected to drug tests and ridiculously onerous job application requirements, even though it is patently obvious that their plight is not their fault?

Watching the backlash on that one–in an election year, no less– should be fun.

As noted many times here and elsewhere, Trump’s role in preparing for and fighting the virus has been, in a word, inglorious. He minimized the threat in a vain hope to maintain confidence in the markets; when the crash came anyway in spite of his gaslighting and sales talk, he was nowhere to be found. The Fed and state and local officials have taken the lead in the battle, not him.

That’s about to change, if you believe Fox News. Trump and his friends have already completely flipped the switch on the narrative. Instead of calling it a small and easily manageable problem, the virus will be now viewed as an existential threat, and Trump will be portrayed as the tireless leader of the crusade against it. He will also take full credit for the Trump Bucks that will inevitably be showered on the electorate, even though it won’t happen without the cooperation of House Democrats who, unlike Senate Republicans, care more about their country than their political future.

If there is one thing Trump thinks he knows, it’s that he can always lie himself out of a tight spot. It’s up to us to make sure he doesn’t get away with it this time by preserving, remembering, and publicizing the real record on the virus.

It went as I predicted. If Sanders were a conventional politician, he would see that he has no path to the nomination, and drop out. Unfortunately, he is the leader of a movement of sorts, so quitting isn’t that simple.

Unlike too many of his followers, Sanders agrees that defeating Trump has to be an overriding objective. The only way to keep the movement going without damaging Biden’s chances of winning in November is to change the focus of the campaign; in other words, he needs to stop disparaging Biden, and limit himself to positive talk about his agenda and uniting the nation to oust the man on golf cart.

The next time Bernie Sanders accuses Joe Biden of being in the pocket of billionaires, he should respond in the following fashion:

1. He agrees with Sanders that billionaires have too much political influence in this country. That is why he supports a constitutional amendment mandating public funding of political campaigns.
2. He also agrees with Sanders that billionaires are undertaxed as the result of a series of misguided GOP tax cuts over the last 40 years. He supports higher taxes on the wealthy in order to fund programs that will benefit struggling workers and the middle class.
3. Finally, he agrees with Sanders that measures should be taken to eliminate billionaires who do not earn their wealth. He consequently believes that the estate tax should be increased substantially, and that capital gains taxes should be reformed, as well.
4. He does not agree that a wealth tax is an appropriate mechanism to tax billionaires, as it is both unconstitutional and impractical.
5. He does not agree that the existence of billionaires is an inherent threat to the operation of the economic and political systems. We need to maintain adequate incentives to promote excellence and innovation in this country. Would the country be better off today without the innovations provided by, for example, Bill Gates and Jeff Bezos? They are billionaires for a good reason. They need to pay their fair share, but no more.

A recession is typically caused by a sudden drop in consumer confidence. The point of a stimulus package is to generate additional private economic activity by filling in gaps and rebuilding confidence. A quarantine, on the other hand, is essentially a temporary government-mandated recession for public health purposes; the whole point is to stop economic activity for a greater good. The last thing the government wants is to stimulate additional activity under those circumstances.

As a result, a conventional stimulus package is inappropriate, and tax cuts would be wasteful and even counterproductive. The objective should be to provide compensation for the temporary losses that everyone will suffer while economic life has been suspended. A national bailout, as it were, with direct cash payments to everyone is what is required.

Who will pay for it? Trump has obviously made the deficit worse with his regressive and unnecessary tax cut. The national bailout will drive the deficit even higher. Interest rates are so absurdly low at the present time, however, that concerns about the deficit would be misplaced. This is a time for action, not conventional thinking.

The virus obviously spreads most easily in urban areas. That means its impact will be felt most strongly in blue states.

How will people in the red states react? Relatively safe in their rural environments, and prompted by Trump and a few of his Fox News apostles, some of them will continue to treat the virus as a hoax generated by Trump’s enemies to defeat him in November. Some will come to realize that anything affecting their customers, both here and abroad, will also negatively affect them, and will respond accordingly. Finally, we are bound to hear stories about fundamentalist preachers who claim that this is God’s punishment for opposing Trump and legalizing gay marriage. Bet on it.

Some transactions will go on as normal regardless of the intensity of the virus; these include many services that can be provided remotely and the sale of some goods, such as food and medicine. Other transactions will be deferred, including the purchase of some manufactured goods (cars would be a good example) and some tourist activities. Finally, some transactions will be terminated altogether, and the losses will be permanent. The coffee you didn’t buy from Starbucks today will not be made up at some time in the future.

As you can see, the impacts do not break down neatly on a services vs. goods basis. How severe will the coming recession be? It depends on the size of the last group of transactions, and the extent to which the federal government fills in the gaps with bailouts.

The leader did everything he could to minimize the impacts of the virus in its early stages. His people, however, understood perfectly that he was far more interested in protecting his own political position than in their well-being. His efforts to control the narrative consequently failed.

Later on, he completely changed course and portrayed himself as a fearless virus buster. When the crisis passed, he inevitably took the credit for the “victory,” even though he was not entitled to it, and the economic impacts of the virus continued to linger.

Is it Trump or Xi? You decide.

Lincoln-Douglas, that wasn’t.

Bernie Sanders is a man with one speech. Ask him a question about fighting the virus, and he will talk about billionaires and M4A. That’s who he is, and what he does. To criticize him for it at this point is a waste of breath.

Biden had two objectives coming into the debate. The first was to avoid looking like a blithering idiot; here, he succeeded quite nicely, so the impact of the debate on Tuesday’s primaries will be minimal. On the second one, to win over Sanders supporters, he was uneven at best. He missed several obvious opportunities to minimize differences between himself and Bernie, and actually picked fights on a few occasions for no apparently good reason. That was a mistake.

Anyone with Biden’s decades of experience in public life is going to have a record full of nuance. The two-man format offers him enough speaking time to explore the nuances. Instead, for the most part, he is making statements about his evolving positions that make him sound dishonest. He needs to fix that ASAP.

In the meantime, because the candidates did little to heal the chasm between fundis and realos, the real winner was Donald Trump. Fortunately for the Democrats, there is so much attention on the virus at this point that hardly anyone will care.