Lion of the Blogosphere

The future economy

MASSIVE government debt, who pays that off?

Many companies out of business because of bankruptcy.

People without jobs don’t spend money.

Employers lay off more people because there’s no demand, creating even more people without jobs who don’t spend money.

People become used to ordering stuff online, lots of demand for retail never returns.

People become used to a lifestyle of more saving and less spending. The Great Depression of the 1930s created a generation like that. Will probably happen again. This further reduces demand.

Democrats take over House, Senate and Presidency in January 2021, with mandate to do radical stuff. What will they do?

Written by Lion of the Blogosphere

April 29, 2020 at 10:51 AM

Posted in Economics

56 Responses

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  1. -Democrats will bail out corporations– same way they bailed out banks under 06ama.
    -God knows who will run the show if B1den is elected…HC? 06ama?
    -Everone will get chipped, under the guise of Corona contact tracing, thx to 31LL Gat3s

    Neil Haversham

    April 29, 2020 at 11:10 AM

  2. Seems to me that massive inflation is inevitable?

    larsavatar

    April 29, 2020 at 11:23 AM

    • The old arguments about inflation have been wrong for 20 years. Excess money supply and debt do not cause inflation simply by their existence. We had a larger increase in money supply and debt during the great recession than we had at any time since the end of WWII, but we had the lowest inflation of any time since WWII as well. Why didn’t money supply increases cause inflation? Because all that excess money sat on bank balance sheets and the Fed’s balance sheet. It was not in the hands of the people to spend on goods.

      People have been trained for decades by monetarist to have knee jerk reactions about inflation. Statements such as, “Inflation is always and everywhere a monetary phenomenon.” But this is over simplified. It is not the mere existence of money or debt that causes inflation. Instead 3 things must happen with that money.

      1. It must get into the hands of the people. (It can not sit on institutional or governmental balance sheets).
      2. They must be eager to spend it.
      3. There must be more of it to spend than there are goods to be purchased with it.

      If you do not have all three of those you do not get inflation. We did not have all three of those during the great recession and thus we had the lowest inflation since WWII.

      We definitely do not have all three of those right now. In fact we have none of them. (1) There is less money in the hands of the people right now. Banks are tightening credit standards. This along with people losing jobs is putting far less money in people’s hands. This is likely to persist for a while. (2) People are worried. Worried people are not eager to go out and spend money. (3) There are slight reductions in the supply of certain essentials like food, but most other things are drastically oversupplied right now. There will probably be some isolated food inflation. Most other things are likely to see deflation in the near term. Energy is a classic example of this. Will we have all three of these things working together in 1 year, 2 years, 5 years? I highly doubt it. Eventually we probably will and then we will have inflation, but until we do, the inflation monster is just a scary story that we like to tell each other because of over simplified monetary training about inflation.

      Apex

      April 29, 2020 at 5:36 PM

  3. Don’t forget “out of control inflation.” Prices will be high, due to all the debt that businesses will have to pay off and due to all the monopoly money the government is throwing at us.

    Also: “High crime rates.” Back in the 30s we still have a cohesive culture to keep crime down (to a point, anyway). Now we don’t have that.

    jewamongyou

    April 29, 2020 at 11:24 AM

    • “Don’t forget “out of control inflation.” ”

      Unless all of that inflationary stuff that’s happening isn’t enough to counteract the massive decrease in the velocity of money and demand.

      Lion of the Blogosphere

      April 29, 2020 at 11:44 AM

      • can you ELI5 velocity of money and how it relates to inflation?

        Fourth Turning

        April 29, 2020 at 11:57 AM

      • ELI5 – When’s nobody wants to buy, prices go down to try to get people to buy. Low velocity is not a lot money being spent. Prices going down is deflation. Deflation is bad because when people will realized prices are going down so they wait even longer to buy. Which leads to more prices going down. It becomes a cycle.

        The other end is money printing and business needs to sell things at higher prices to cover debt. Which of the two forces would win is anyone’s guess. But I think that’s why did didn’t get hyperinflation during the Great Recession (at least on goods, there’s an argument it came for “big ticket items” like Health Care, Homes, and Education)

        Dreamer

        April 29, 2020 at 1:54 PM

      • > people will realized prices are going down so they wait even longer to buy

        We’re partially fortified against that compared to places like Korea and Japan because of our demographics and cultural attitudes (less deferred gratification and more impulsivity).

        anon

        April 29, 2020 at 2:32 PM

  4. Possibly a wealth tax on the rich. I don’t know how that would work, but it seems necessary. In WWII we ran an economy while fighting two wars. We would have to do something like that again, but without the wars. I’m not saying this will happen, but it should.

    Cow Of 2020

    April 29, 2020 at 11:38 AM

    • Even if you confiscated all of the top 1%’s wealth you would have enough to run the US government for a year during a normal year… And then it’s gone, there is nothing left to take..

      Kaz

      April 29, 2020 at 12:31 PM

      • USG would be a lot less expensive to run if we executed all the traitors.

        Panther of the Blogocube

        April 29, 2020 at 1:36 PM

      • I was thinking more like 50% on wealth over $10 million and 70% over $1 billion. Jeff Bezos will live. Is this doable? Yes. It will be extreme though. Libertarians would complain about freedom or something. It would be a one time thing. Most of the trillions in stimulus went to the richest 1% anyway. Take that money, cancel all student debt, fund massive infrastructure projects to create high paying blue collar jobs. Bail out states, especially states that pay more it the federal government than they get back. Will this work? I have no idea, but I don’t see a better solution. The average American would be better off. Americans would cut their nose off to spite their face to advance whatever stupid thing rich people tell them. Hopefully that’s the end of that.

        Cow Of 2020

        April 29, 2020 at 1:52 PM

    • One proposal for a wealth tax involves taxing the percentage of homes valued above a certain amount. So maybe there’s a 1% tax on a home for after the first 10 million dollars. This would apply to all homes so that someone with two 10 million dollar mansions pays the same in taxes as someone with one 20 million dollar super-estate. It would also apply to foreigners who park their money in US housing. Of course there are ways to game such a system, and all of the usual unintended consequences. It’s worth throwing it out there.

      And thanks for allowing comments!

      Vince

      April 29, 2020 at 1:34 PM

  5. “Democrats take over House, Senate and Presidency in January 2021, with mandate to do radical stuff.”

    Maybe. We’ll be entering the election with depression level economic numbers, however unlike virtually every other economic downturn we’ve ever had, there won’t be any arguments or questions on the cause. Nobody will be trying to pin this on the Trump tax cut or some version of Trumpinomics; it will clearly be the virus. So that changes the math on the old “it’s the economy stupid” calculus.

    Mike Street Station

    April 29, 2020 at 12:38 PM

    • The Republicans expect to lose Senate seats in Colorado, Arizona, and Maine. Given that seats in other states like Kansas, Georgia, and North Carolina will also be in play. The Republicans only sure pickup is Alabama.

      The House is a lock for the Democrats because the Republicans will not win back many seats that were lost in 2018.

      Biden is a bad candidate but Trump is a known entity instead of being the outsider. Of course, I do not understand anyone who wants four more years of Jared Kushner and the rest of the lackeys around Trump.

      superdestroyer

      April 30, 2020 at 6:34 PM

  6. Lion why have you disappeared when your readers needed you most?

    uman

    April 29, 2020 at 1:32 PM

  7. Thanks for re-opening comments. I don’t comment much but I do lurk and read. When it comes to trying to read conservatives viewpoints. This is one of my listening posts. In theory, regardless of my own views, I try to keep an ear to various venues.To pick up points which becomes litmus tests and proxies to the core tenets of the group.

    But once comments here got shutdown, I lost a major area to follow discussions for the area of what’s used to be called the manopshere, I had to look for other venues. And so much I can’t listen and place some kind of litmus test at all that doesn’t already fail to me.

    What I mean by that are things like masks – I am suppose to not agree with masks when the data say the countries that wear masks has much less infections? Am I suppose to want reopenings when no other country has reopened with anywhere near the same numbers? Then there’s the discussions about hospitals are faking it or even the disease itself. It’s takes me 5 minutes to text a few friends who works in the hospitals – including a close friend who’s sister is a doctor in NYC and the responses that it’s chaos in there. Where do I even start with 5G? And I see where the vaccines discussions is gonna go.

    Yes, it’s here too, and that’s why you closed it. But at least there’s a discussion. I might actually see disagreements and people would actually make arguments with various points to each other. It’s actually a semi-marketplace of ideas. Not just a bunch of accepted “facts” that all I can gather are lines being drawn in the sand that I can tell the long-term implication are we are going have to pick sides.

    Dreamer

    April 29, 2020 at 1:39 PM

    • Same. It’s really frustrating to have one of my favorite internet discussion places shut down when all I have to do is discuss things on the internet. Of course people are going to say things that are wrong, everybody is wrong sometimes, and lots of people have gotten this thing massively wrong.

      ack-acking

      April 29, 2020 at 3:04 PM

      • I haven’t seen young White Snowflakes drop like flies from the Covid-19, but the elderly and NAMs are taking a hard hit from it. Initially, I was wrong to say that blacks were immune to it (as with Lion who made a similar remark) during the early inception of the pandemic in Murkaprolestan. It turned out to be quite the contrary!

        Ok, what, who's this again?

        April 29, 2020 at 3:59 PM

      • 1. The coronavirus was initially spread by the jetsetter class, which is mostly white.
        2. In Africa, it has probably not spread as quickly because poverty means that they don’t have air conditioning, so they stay outdoors or keep the windows wide open, which means they have a lot more airflow and less opportunity for the virus strands to concentrate in the air. (Ironically, their poverty protects them.)

        Lion of the Blogosphere

        April 29, 2020 at 4:26 PM

      • I’ve hinted that proles might also be vulnerable to the virus, due to their underlying health condition stemming from their poor diet.

        This Joisey “guido” family has suffered a devastating loss from the virus. Me thinks too much greasy Italian food is to blame.

        Ok, what, who's this again?

        April 29, 2020 at 5:05 PM

      • Yeah, I was just looking at a photo of a family of three who were all killed by the virus. All of them were fat. It’s not just being fat, it’s how good your cardio is on the day before you develop symptoms. Hint: being fat isn’t conducive to good cardio.

        MoreSigmasThanYou

        May 2, 2020 at 2:08 AM

  8. Even if Democrats do win the Senate, their majority is almost certain to be very narrow (51-49 or 52-48). Such a narrow majority might not be able to abolish the filibuster (moderate Democratic Senators like Joe Manchin of West Virginia or Kyrsten Sinema of Arizona might not support that), in which case new programs would have to get substantial Republican support to get to 60 votes to end filibusters. Even if they abolished the filibuster, with a narrow majority they could only pass bills the least liberal Democrats like Manchin and Sinema would support. So I don’t see radical proposals like a wealth tax becoming law in 2021 or 2022.

    artqfrank

    April 29, 2020 at 1:51 PM

    • What makes you think the Democrats will honor the filibuster rules in the future. The Republicans changed the rules in order to approve federal judges. Why wouldn’t the Democrats, while looking at the changing demographics of the U.S., go back to the old rules of actually forcing someone to speak in order to filibuster?

      superdestroyer

      May 1, 2020 at 7:53 AM

      • Liberal Democrats certainly want to end the filibuster, but it takes 51 votes to do that. Moderate Democratic Senators from red and purple states like Manchin of West Virginia and Sinema of Arizona might not got along with that because in the absence of the filibuster they would be pressured by the Democratic base to support liberal legislation they might not favor. Just like the Republicans with the trifecta (House, Senate, and President) could not repeal Obamacare because McCain, Collins and Murkowski would not vote to do so, leaving them on the short end of a 51-49 vote. What can pass the Senate is not what “the Democrats” want but what the least liberal Democrats are willing to vote for, assuming the Democratic margin is only 51-49 or 52-48.
        And just to be clear, it was then Democratic Majority Leader Reid that changed the filibuster rules for nominations in 2013, for both non-Supreme Court judgeships and executive branch nominations. The only change made by Republicans in 2017 was to extend that to Supreme Court nominations as well.
        Abolishing the filibuster for nominations allows majority party Senators to get their friends and supporters both executive and judicial positions when their party controls the Presidency. Abolishing the filibuster for legislation, however, reduces the clout of individual Senators and empowers party leadership, as the threat of a filibuster gives members of both parties leverage on legislation they care greatly about. So for Democratic Senators with a narrow majority, it is a trade-off; party policy victories or more individual clout. It is not obvious that moderate Democratic Senators value policy victories more than their own individual influence on legislation.

        artqfrank

        May 1, 2020 at 6:02 PM

  9. “Democrats take over House, Senate and Presidency in January 2021, with mandate to do radical stuff. What will they do?”

    Common sense solutions for our nation’s problems will be proposed. And then the Democrats will do exactly the opposite of those proposals.

    Sgt. Joe Friday

    April 29, 2020 at 2:17 PM

  10. Bricks n Mortar retail will never go away as long it is marketed to niche populations who are forever enticed by them and then need them.

    The run n the mill prole may forego shopping in a conglomerate store like Macy’s or the GAP and opt for online, but the herds of hipster sheep will continue their habit of patronizing their respective small businesses on their street blocks (aka boutiques).

    Then there’s a social and hedonistic aspect of the common human condition in associating with a tangible element. Despite the online presence in every facet of our lives, vectors that spread the virus are also indeed in the venues that enable and foster the instinctual mating/sexual urges of human animals.

    Ok, what, who's this again?

    April 29, 2020 at 2:22 PM

  11. People become used to a lifestyle of more saving and less spending. The Great Depression of the 1930s created a generation like that

    Why would it? Most either haven’t lost their jobs or, if they did, are doing just fine on unemployment. See https://www.nytimes.com/interactive/2020/04/23/business/economy/unemployment-benefits-stimulus-coronavirus.html As as far as getting used to a low-consumption lifestyle, people will just take the money saved on less going out to eat and spend it on better houses and cars. Prediction:

    The average (arithmetic mean) personal savings rate reported by the Bureau of Economic Analysis will not exceed 10% from the start of 2023 to the end of 2027: 90% confidence.

    Alexander Turok

    April 29, 2020 at 2:33 PM

  12. Well, in the last few weeks, with some people starting to call for various levels of reopening, I’ve started to see a lot more outrage among the left-wing twitterati over the very idea that people need to rely on income derived from working for capitalist pigs to meet their basic needs, as opposed to the government providing everyone with food, clothing, and shelter. So apparently it’s leading to an increase in calls for outright communism.

    Hermes

    April 29, 2020 at 3:12 PM

    • Think of basic income as dividend payments rather than “communism.”

      Lion of the Blogosphere

      April 29, 2020 at 3:30 PM

      • You could argue that point, but the Bernie bros and AOC fans I’m talking about hate universal basic income, because it still allows for a market economy with all its attendant evils like rich landlords being able to charge people rent. They expliciltly say the government should directly provide the basic necessities of life. (Or that any governmental income shouldn’t be Universal, but rather should be for the poor and working-class only.)

        Besides, one could ask, related to the point about whether a UBI would just cause inflation, what good are extra US dollars for everyone if the economy is shut down? We already have had the government announcing recently that they’re printing trillions of dollars, albeit to prop up the stock market rather than the working class, but does anybody think that’s actually going to help in the long run?

        Hermes

        April 29, 2020 at 4:41 PM

      • Yes, it’s too bad that Andrew Yang didn’t win the Democratic nomination.

        Lion of the Blogosphere

        April 29, 2020 at 4:42 PM

      • NYSDOL (New York State Dept of Labor) is hiring and paying minimum type wage positions to process unemployment claims where its applicants can suck the gov’t tit for 13 weeks of $1K or more per week in unemployment benefits.

        https://www.labor.ny.gov/dol-job-openings.shtm

        Openings are in Albany and in the Southern Tier region of Endicott (a crappy area in Upstate NY that is hurting for jobs).

        What a travesty!

        Ok, what, who's this again?

        April 29, 2020 at 5:58 PM

      • The greatest positive in last 2 months has been Bernie loss in the primary. Now we have 2 candidates that either is acceptable to me. I don’t like Trump but he is better than Bernie on his worst day.

        mpt

        April 29, 2020 at 6:22 PM

      • They expliciltly say the government should directly provide the basic necessities of life.

        as does ray dalio who believes this is going to be great depression 2.

        an upside to the virus response is it’s demonstrated how many jobs are bullshit.

        a government check is much better than minimum wage at a bullshit job. but can’t have that because “socialism”. conservatards use “socialism” in the same brain dead way liberals use “racism”.

        chair powell

        April 29, 2020 at 10:16 PM

      • “The Empire City,” a 1959 novel by Paul Goodman, has a character who calls being on the dole “living off the interest of the empire.”

        Anthony

        April 30, 2020 at 12:08 PM

    • I’ve noticed the same on the few left wing people in my Facebook feed. They’ve gone waaay left now, safely into commie territory. A lot of eating landlord posts.

      Mike Street Station

      May 3, 2020 at 7:50 PM

  13. You really believe Biden will win the election? At the rate his mind is deteriorating, he may not be able to even find his way to the White House by January. He hardly seems to be able to read now. He is sure to pick someone obnoxious for running mate, maybe Kamala Harris. Or someone even worse. He has pledged to pick a woman, and is unlikely to go back on that in light of Tara Reade’s accusations. Whoever he picks could be the next president.

    Not that we are likely to have any better choices when an election comes around in Canada. Trudeau is a moron but generally seems to say what his handlers tell him to say. He government is in the pocket of China. Trump may try to stimulate the economy by bring manufacturing back from China, if he is re-elected. He is a loose canon and says stupid things. But he is not really more incompetent than leaders of other Western countries. The CDC probably screwed up because Obama stacked it with diversity hires.

    Rosenmops

    April 29, 2020 at 5:38 PM

    • Biden’s noticeable cognitive decline is a problem for the Democrats, no doubt. I noticed that Clinton had remained silent up to now, not endorsing him until yesterday. Insofar as the vice presidency is concerned, I think what’s going on here is that the party bosses have decided that (a) Klobuchar doesn’t excite anyone, (b) Warren and Harris are both a couple of obnoxious scolds, and (c) Stacey Abrams is apt to say something inflammatory and scare away the Nice White Lady vote. So the obvious choice is Clinton. After all, she was “robbed” last time around, and everyone knows Joe is going to die in office or be forced to resign when he publicly soils his diaper.

      What happens the day after the election will be entertainment with a capital “E.” Trump will be unexpectedly gracious in defeat, but that won’t be enough for the foaming-at-the-mouth crazies. There will be people all over MSNBC and CNN and the WaPo screaming that Trump has to be removed from office the day after the election, because who knows what he might do? He might pardon Roger Stone or Paul Manafort! It’s just far too dangerous to allow him to stay there until January 20, so 200+ years of law and custom be damned.

      Sgt. Joe Friday

      April 29, 2020 at 6:32 PM

      • “ Biden’s noticeable cognitive decline is a problem for the Democrats, no doubt.”

        Give him a young intern to digitally manipulate and he’ll come back to life. Either that or put him in his grave per The Sensuous Nurse.

        https://en.wikipedia.org/wiki/L%27Infermiera

        Curle

        April 30, 2020 at 12:00 AM

      • “Biden’s noticeable cognitive decline is a problem for the Democrats, no doubt”

        I’m not sure about that. On the political forums it seems a non issue on the left. They say the staff and cabinet will runs things. It’s interesting that on the right, the last thing we want is the establishment running things, and on the left, they are comforted by it.

        Mike Street Station

        May 3, 2020 at 7:53 PM

  14. One of the another great outcome in last 2 months is companies realizing that wfh does not mean lower productivity. Our entire company started wfh a week before our CA state governor shelter in place order. Now we were told company is evaluating how many days out of week we would just wfh over long term, even after covid restrictions end.

    Saving so much gas, dining out money, it’s crazy. Hope more and more companies follow suit

    Not a trend yet but India’s largest company TCS announced is going to convert 75% of it’s workforce to wfh. Saves companies lot of money on lease, electricity and what not.

    mpt

    April 29, 2020 at 6:30 PM

  15. I wanted to say that it is a really terrible experience grocery shopping now. For some reason stores are letting people buy as much of anything as they want, so there is no toilet paper or good food on the shelves.

    I hope all the hoarders catch coronavirus and die.

    This crisis really showed what a low trust shithole this “country” is. This is just one example. I guess I’ll just have to take down my flag and wipe my ass with that.

    Jjbees

    April 29, 2020 at 6:36 PM

  16. Welcome back – really missed your blog.
    Not to start any fights or anything, but couple of comments:
    -Never understood why you consider Trump so much more massively incompetent than any other world leader. He was in a new situation, getting lots of conflicting advice, no really solid facts, and was basically trying to walk an impossibly fine line. He didn’t lock down early, but neither did Japan, and they skated (interestingly, they also skated in the 1968 Hong Kong Flu, which killed 100K in the US – maybe blowfish bladders are the secret?). Compare Trump to say Cuomo, who ordered the nursing homes to take Covid19 cases, probably a direct cause of about 25% of NY death toll. Yet Cuomo is a great leader to this blog.
    -Weather isn’t the major factor, but it’s most likely a contributing factor. Bali had 3 flights a week from Wuhan well into February (popular tourist destination for the slave labor crowd), and you can find thousands of Google hits in March and April talking about how any day now Bali’s going to be a disaster area. At the end of April, they’ve had a total of 4 deaths, and no lockdown. Maybe weather is well down the list, after population density, but it seems like it counts for something. For that matter, India has skated pretty well too. If you saw pictures of their lockdown, it sure wasn’t because of that – they had thousands of people crammed together sitting around train stations and border crossings. Of course, they may have superhuman immune systems from surviving the general level of public utilities in India. Or maybe you need warmth and humidity.
    -The Trump Hdc “cure” is not conclusively debunked at all. If you look at Steve Sailer’s blog, Italy noted that people who take Hdc on a regular basis for lupus or rheumatoid arthritis are vastly under represented in CV19 cases. Among the possible conclusions are a) Hdc does have value used as a prophylactic (i.e., “vaccine”), and b) maybe there’s something about the immune systems of lupus sufferers that also wards off CV19 (such as that because of weak immune systems, they don’t go into the cytokine storm).
    -In the long run, countries that either through good management, brute force or luck made it through with few deaths are no better off than anyone else. As long as the virus is rampant in one place, everybody’s screwed unless they completely close off all international travel, and maintain a constant state of alert. The only way back to anything resembling pre-virus normal is a vaccine or an effective treatment (or just accept the half million deaths).
    Anyway, sure glad to have you back online.

    Dmon

    April 29, 2020 at 6:51 PM

  17. MASSIVE government debt, who pays that off?

    no one. it’s monetized. japan has far higher debt to gdp and has had for 20 years. last time i checked the BoJ owned 50% of JGBs. interest paid to the fed is remitted to the treasury.

    the US still has the highest yielding government bonds of any developed country. debt will increase, but there will be no inflation and rates will go to zero.

    Democrats take over House, Senate and Presidency in January 2021, with mandate to do radical stuff. What will they do?

    nope. the dems aren’t radical. they’re fake. even AOC and bernie have sold out. biden is a psychopath.

    chair powell

    April 29, 2020 at 10:09 PM

  18. “People become used to a lifestyle of more saving and less spending. The Great Depression of the 1930s created a generation like that. Will probably happen again. This further reduces demand.“

    The 1930s was also a time when people we’re unapologetically anti-immigration.

    One of the annoyances of you being offline was the paucity of coverage of the SJWs first being sidelined for serious news, as the disease spread, then clawing to regain the spotlight with outrage over things like tee-shirts connecting bats and chopsticks. They are now trying to regain newsworthiness cred clanging the bell on behalf of all the Chinese supposedly being associated with the Covid. I feel confident the MSM will do everything to assist.

    Curle

    April 29, 2020 at 11:38 PM

  19. Thanks for bringing back comments.

    I should have paid more attention when you sold all your stocks. It wouldn’t have made sense for me to have sold all my stocks but I could have saved some money by selling some of them. But although I understood the threat on an intellectual level this wasn’t enough to prompt me to take sensible personal precautions. I like to believe I am an independent thinker but when it comes to taking action it seems I am really pretty conformist.

    JAMES SHEARER

    April 30, 2020 at 12:36 AM

  20. I think Trump’s threatened immigration moratorium could become a very effective campaign ploy that could save him.

    He now has a very plausible cover story for why to implement it that avoids him having to seriously answer the charge that it is really because he fears whites becoming a minority.

    So suburban soccer moms who have been indoctrinated to watch out at all times for the evil of ‘white nationalism’ now have a conscience balm that will make it easier for them to pull the lever for the guy backing a policy preference they secretly or unconsciously like but were always led to believe was somehow wrong.

    trey

    April 30, 2020 at 2:44 AM

    • The problem is, his immigration moratorium is rather toothless. He specifically excluded the work visas, which are exactly the problem, and should be suspended outright. The problem is that everyone who works for him wants no restrictions on immigrant labor.

      Mike Street Station

      May 3, 2020 at 7:57 PM

  21. If anything good does come of this, perhaps it will be that some states do go bankrupt like McConnell suggested. Then they can default on some portion of their public pension obligations, which are like a dead albatross around their necks.

    Lowe

    April 30, 2020 at 9:10 AM

  22. Democrats take over House, Senate and Presidency in January 2021, with mandate to do radical stuff. What will they do?

    That will all take care of itself when RBG retires on Jan. 21, 2021.

    E. Rekshun

    April 30, 2020 at 11:05 AM

  23. Lion
    Glad you’re back with comments allowed. I sympathize with you thinking that we are too stupid to talk to but still I’m not sure than you realize how important you are to many of us. Every day since you stopped writing I’ve begun my day by visiting your blog to check and see if you were back yet. Thus I was pleasantly surprised when I saw that you are back. So, Welcome back as well as all your regular commenters.

    ken Storkson

    April 30, 2020 at 3:52 PM


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