I try to leave the longer things for weekends, to keep you out of trouble. With nothing to do, you could be led astray in so many ways; but with Jeremy Grantham’s brilliant The Race Of Our Lives, you will be enlightened, and perhaps spared a bad sunburn, poison ivy, getting lost in the woods, Lyme tick disease, lake leaches, sand-shark bites, a mountain bike accident — really, it’s safer just to stay home. (My motto: if it’s not paved, it’s not safe.) Though you may feel the need to go out for a drink afterward.
But just before you settle in with Jeremy . . . did you know all this about Brett Kavanaugh? I didn’t. And it’s only 90 seconds.
And could we please frame today’s economy as, a continuation of the Obama economy that was SO strong, even Trump hasn’t killed it yet?
As noted by “the resistance” . . .
- The unemployment rate dropped two-thirds of one percent each year under President Obama, but just one-third of one percent each year under Trump.
- Inflation-adjusted wages went up one-quarter of one percent each year under President Obama, and have DECLINED by one-quarter of one percent each year under Trump.
- The average price of gasoline in President Obama’s last year in office was $2.14 per gallon; under Trump, at $2.87, it’s up 34%.
- President Obama inherited the worst economic crisis since the Great Depression. Trump inherited the Obama Recovery.
And of course inequality just grows. Per the Washington Post: CEOs of America’s biggest companies saw their average annual pay surge to $18.9 million in 2017 — up 18%, even as real average hourly earnings for all employees decreased 0.2 percent from July 2017 to July 2018.
But now read Jeremy Grantham and stay indoors, where it’s safe.
Have a great weekend.
[Email subscribers: sorry I missed the deadline for this to go out last night.]
Quote of the Day
Beware of little expenses. A small leak will sink a great ship.~Ben Franklin
Request email delivery
- Mar 25:
Of Deficits And That Mechanical Swan
- Mar 22:
Pins And Groats — Be It Ever Thus
- Mar 21:
Demand Your Carbon Dividend
- Mar 20:
Success! Why Do New York’s Mayor And City Council Resist It?
- Mar 19:
The Other Kind Of Bankruptcy
- Mar 18:
- Mar 15:
Pete Buttigieg And John Delaney
- Mar 14:
The Fifth Risk
- Mar 13:
Reader Feedback: How About A Stock Update?
- Mar 12:
Eat Drink And Be Merry? . . .
- Mar 25: