Posts Tagged ‘economy’

The Economy? None of Your Business

Wednesday, February 28th, 2024

By Bob Gaydos

My “smart” TV

My “smart” TV. RJ Photography

   So the very smart TV made an unscheduled stop the other night on one of those “business” news shows with a bunch of well-dressed, middle-aged men and younger women talking to each other about money. I think. 

    They were talking about the day on Wall Street and they all sounded very smart, like the TV, but, I don’t know, maybe something got lost in the translation for me.

     What I can recall of their stream of consciousness conversation that day went something like this: “Nvidia … AI … Magnificent Seven … Tesla … Earnings … Inflation … Nvidia … Kathy Wood … Tesla … Fed … Rates … AI … Microsoft … Shorts … Inflation … Techs… Bubble… AI … Nvidia … Fed … Tesla … Apple … Trillion … Inflation … Fed … Nvidia … Over-Priced … Tesla … AI … China … Apple … Nvidia … Price Target… Shorts … Rates … Inflation … Amazon … Fed … Techs… Index… AI … Dow … Tesla … Kathy Wood … Nvidia … Google … Shorts … Inflation … Earnings… Recession … Fed … AI … META … Index … Fed … Nvidia.”

     That’s pretty accurate, I think. So it sounds like something to do with money, right? But not the economy because that word was never mentioned. Well, maybe someone said “consumer” one time in a passing remark on inflation.

     The thing is, they all seemed to understand each other and mostly agreed with each other, especially about Nvidia and Tesla and AI and Kathy Wood. But after listening, I wasn’t sure how the economy was doing or even what stock I should buy or sell, if I were in the market to do so and maybe couldn’t afford Nvidia. Or maybe I couldn’t afford not to afford Nvidia.

      Confused, I looked around and heard pretty much the same conversation on every TV business show, so I figured they got paid to talk to each other about Nvidia and inflation, but weren’t interested in telling me anything useful. Certainly not about business.

       Luckily, I finally found the “I-know-every-stock-out -there” savant, Jim Cramer, whose message, as usual, was clear: “Buy! Buy! Buy!” or “Sell! Sell! Sell!” But don’t trade Apple. Still. Oh, and the economy’s doing fine.

       There’s something quietly reassuring about being talked to directly, rather than eavesdropping on some private conversation. Especially about money.

      Smart TV take note.

rjgaydos@gmail.com

      

America Finally Has a President Again

Wednesday, May 5th, 2021

 

 By Bob Gaydos

President Biden delivering his first speech to Congress.

President Biden delivering his first speech to Congress.

    I tuned in a week ago for the first time in four years to listen to a president’s speech. I got more than I bargained for. The president’s speech was, in fact, a presidential speech. Thank you, President Biden.

     Why presidential? Because it was honest. Because it addressed seemingly every need and problem facing the nation, detailing what he wanted to do, challenging Congress to get busy with him doing it, and proposing to pay for the sweeping programs in a way with which the great majority of Americans could not possibly disagree. Help America win the 21st-century, Biden said. Restore it to its position of global leadership. Repair its tattered reputation.

      Only the congressional Republicans in attendance, sitting on their hands, dour-faced, had a problem with the speech. That’s because they knew Biden was speaking truth and hope to Americans and all Republicans had to offer — still — was lies.

      They couldn’t even claim that Biden was weak or stumbling or unsure of himself In delivering his speech, because he wasn’t. Because he was clear and direct as he laid out a detailed program of what needs to be done to bring America back from four years of incompetence and treachery in the White House. That’s presidential. It was long overdue and much-needed.

      Over and over, Biden referred to the economy, to making and buying American goods (“There is simply no reason why the blades for wind turbines can’t be built in Pittsburgh instead of Beijing.”) To helping families with young children. To paying fair (livable) wages and providing broader educational opportunities. To repairing roads, replacing ancient water systems. To building a network of charging stations for electric vehicles. To negotiating lower prices for prescription drugs. To getting everyone vaccinated so the country can open up and get back to work. And to jobs, jobs, jobs. As I listened, I thought of the old Democratic campaign motto, “It’s the economy, stupid.”

      And, he said we could pay for it by taxing only the wealthiest of Americans. Make corporations pay their fair share, he said. It was a message aimed right at middle America and, as polls have demonstrated in the following days, middle America heard and liked it.

       Republicans responded by having their only black senator declare that America is not a racist nation. Fine, but Biden never said it was. He said there was institutional racism, which there is. He said he would attack the threat of white supremacist terrorists within our borders, which the FBI has described as our greatest internal threat. He called for sensible gun reform in the aftermath of a string of mass shootings. And again, polls show that the large majority of Americans support this. And he said he was bringing our troops home from Afghanistan where they have been fighting since accomplishing their mission of killing Osama bin Laden 10 years ago. Again, most Americans are not in favor of endless wars with no clear mission.

        There was a lot more in Biden speech, but all of it was aimed at one goal: restoring America’s dignity. Let us work together, care for each other and show the world that our actions match our words, the president, a Democrat, said. The other party pouted. He stole the election, they lied, insulting state election officials of their own party in the process. He’s not uniting us, as he promised, they said, after years of ignoring all Democratic proposals. They voted against his programs and then took credit for the ones that benefitted them politically. They passed state laws making it harder for people to vote. And they lied constantly.

        America has a president who knows how government works, who knows about international diplomacy, who cares about more than his own selfish interests and who actually does his job. Joe Biden wants to heal America and he asked the “loyal” opposition to help. They sat on their hands. They have nothing, but we, at last, have a president again.

rjgaydos@gmail.com

Bob Gaydos is writer-in-residence at zestoforange.com.