Tag Archives: Government shutdown

Blow Back, by James Howard Kunstler

Is the government shutdown, which the Democrats will mostly be blamed for, misdirection from the burgeoning FBI and Justice Department scandals? From James Howard Kunstler at kunstler.com:

Is there any doubt that the Democratic Party will be blamed for the government shutdown brought on by the DACA showdown? They insisted on a DACA deal that would have enabled everybody-and-his-uncle in a DACA person’s family to migrate to this country, a formula known as chain migration. Did they really believe that would go over? Or is it just more identity politics posturing?

I’m not the first observer to point out that it looks like the Democratic Party puts the interests of non-citizens above everybody else in the country. That’s what will be remembered about this gambit at the polls in November. It also looks like an engineered misdirection away from the more ominous fast-developing story about political corruption at the highest level of the Justice Department and its subsidiary, the FBI.

Unlike the allegations in the slow-cooking Russian Collusion story — allegations so far uncoupled from evidence — there’s plenty of evidence that FBI leadership deliberately mishandled several concurrent Hillary Clinton inquiries and, along with other players in the giant NSA matrix, launched the Russia Collusion story to derail Donald Trump’s legitimacy in office. Former President Obama and his White House aides are implicated in these machinations. Whether you’re a Trump fan or not, this ought to raise troubling questions about the legitimacy of the FBI.

On Sunday, the FBI revealed that it had lost five months of text messages between Trump antagonists Peter Strzok and Lisa Page. The agency offered a lame explanation that “software upgrades” and “misconfiguration issues” interfered with the app that is supposed to automatically save and archive communications between officials on FBI phones. This was the couple who chattered about an FBI-generated “insurance policy” for the outcome of the 2016 election with Deputy Director Andrew McCabe. When will these three be invited to testify before a house or senate committee to inform the nation exactly what the “insurance policy” was?

To continue reading: Blow Back

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Washington’s Bloated Big Engine That Can’t—Why The Shutdown Threat Matters, by David Stockman

Time inexorably moves on and debt inexorably grows and the reckoning draws ever closer. From David Stockman at davidstockmanscontracorner.com:

We have been here before—-in the blow-off stage of a stock market mania that is being driven by nothing more than momentum. Speculators and robo-machines alike are buying the market solely because it is going up (almost) every day.

Their excuse is FOMO. But their downfall will be utter failure to have noticed headwinds gathering everywhere—but most especially in the Imperial City.

The fact is, the current Continuing Resolution (CR) impasse underscores that Washington has been reduced to a state of operational dysfunction, policy fracture and partisan paralysis like never before. The pols can only keep the lights on 4 weeks at a time—or maybe even less as tonight’s shutdown showdown will determine.

To be sure, the talking heads of bubblevision bravely insist that this latest shutdown threat doesn’t matter because when push-comes-to-shove these CR and debt ceiling impasses always get resolved, enabling the market to live for another day. No sweat!

Au contraire. Each time the fiscal can is kicked down the road by one of these pathetically short CRs, it is actually a measure of defeat because under today’s macroeconomic and financial circumstances, time is the absolute enemy as the pressure in the cooker inexorably builds to the explosion point.

Everything is out of sync and behind the curve—on the monetary, fiscal and macroeconomic fronts.

The Fed has dithered for 100 months in failing to normalize interest rates and reduce its hideously bloated balance sheet. Belatedly, however, the knee-jerk Keynesians who inhabit the Eccles Building have become positively desperate about re-loading their “dry powder” to combat the next recession.

So they have put shrinkage of their massive portfolio of govevernment and GSE debt on automatic pilot. This means that for the first time in history the Fed will be dumping bonds on the market at a $600 billion annual rate come October.

To continue reading: Washington’s Bloated Big Engine That Can’t—Why The Shutdown Threat Matters

 

We’re With POTUS, by Bill Bonner

The only people who think shutting down Washington would be a bad thing are residents of Washington and a few wayward souls scattered on the coasts (see electoral map). From Bill Bonner at bonnerandpartners.com:

It doesn’t seem to matter what he says; the press is all over him.

A presidential tweet: “Our country needs a good ‘shutdown.’”

The commentators couldn’t believe it. It was “unthinkable,” they said, for a sitting president to suggest closing up shop of his own government!

But once again, we’re with the POTUS.

“The Donald” is right: A shutdown is what the country needs.

No Money for the Swamp

Shut down the whole shebang.

No money for the swamp. No money for the cronies. No money for the zombies. No enforcement of employment rules… minimum wages… SEC regulations…

Send the snoops at the NSA and the CIA home. Stop collecting taxes. Stop telling everyone what to do!

Stop the win-lose deals.

Wow… we’re getting giddy just thinking about it.

Readers will reply that Mr. Trump is being irresponsible and that a shutdown would be “disastrous.”

Think of all the museums and parks that would be closed. Think of NPR off the air. Think of the bombing that would have to stop. Think of all the boondoggles, insider deals, and sweetheart contracts that would be put on pause.

The Labor Department… suddenly out of a job! The Department of Education… sent home from school. The Agriculture Department… yanked up by the roots. The Energy Department… out of gas.

Yes… sounds good to us!

Still in Business

Seriously, most of what the government does is “non-essential.”

Even in a shutdown, the feds would still be in business – taking our money… spying on us… asking rude questions at airports… and droning foreigners.

If the president really wanted to shake things up, he should shut down these “essential” services, too.

Take the Department of Homeland Security.

Please. Essential?

Twenty years ago, it didn’t exist. Now, it employs 240,000 people.

To continue reading: We’re With POTUS