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” . . .

  1. 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.
  2. 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.
  3. 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%.
  4. 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.]



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