Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘Democratic Party’

Rev. James Meeks Takes on the New Slave Masters

Posted by Larry Doyle on February 23rd, 2010 8:38 AM |

Rev. James Meeks

“We don’t have slave masters,” he said. “We got mayors. But they still the same white people who are presiding over systems where black people are not able . . . to be educated.”

That is some statement.

Who expressed such strong and incendiary outrage? The Reverend James Meeks, founder and senior pastor of Salem Baptist Church in Chicago, the largest African-American church in Illinois.

In my opinion, Meeks did not look to score pure political points in launching into the mayors of our nation. To a very large extent, Meeks is taking on the Democratic Party establishment which has embraced the African-American community and championed their fight. Then why is Meeks railing on the mayors? (more…)

Will Jamie Dimon be the Next Treasury Secretary?

Posted by Larry Doyle on March 20th, 2009 9:02 PM |

The pressure on Treasury Secretary Tim Geithner is increasing from within the Democratic Party, across the aisle, and the media. Will Tim be fed to the lions? Well, the standard procedures of implementing change seem to be occurring. What are those steps?

JP Morgan Chairman and CEO, Jamie Dimon

JP Morgan Chairman and CEO, Jamie Dimon

1. A vote of confidence by the Administration. Always a kiss of death!

 2. Leak the name of a strong prospective secretary. 

 Who might that be? JP Morgan Chairman and CEO, Jamie Dimon. 

 Dimon is enormously well respected in Washington and Wall Street. He can quickly build a team. He has run very large organizations. He has been a longtime Democratic supporter and publicly promoted President Obama and his plans.

I find it interesting that Dimon’s name was bandied about last October as a prospective leader of Treasury.  Market Watch highlighted this fact in reporting The Next Treasury Secretary Is…

As the firestorm over the prospective legislation to restrict Wall Street bonuses grows, do not be surprised to see Dimon ride in on the white horse to broker peace between Washington, the financial community, and the public at large.

LD

Ceteris Paribus

Posted by Larry Doyle on February 26th, 2009 2:01 PM |

Economic and budgetary analysis by their very nature often employ a “ceteris paribus” approach or similarly base line assumptions. Ceteris paribus, translated as “all other things being equal,” or base line assumptions are necessary given the fact that economic analysis has so many variables. Well, let me share with you that ceteris are NEVER paribus and base line assumptions are almost always skewed to bias the results in a desired direction.

***UPDATE: I was not aware at the time of my writing but it is reported that the Obama administration is projecting  the economy will grow at a 3.2% GDP in 2010. That assumption is wildly optimistic. No respected economist would project that figure. Consensus has it in the 1.5-2% range. What does this mean? Well, lower growth means lower revenues, means higher deficits, means greater funding needs, means more borrowing, means higher government interest rates, means more “crowding out”, means slower growth for the economy going forward!!  

There was little doubt about President Obama’s social agenda and economic platform during his campaign. While markets will somewhat discount campaign rhetoric, they do not discount economic reality. The markets are sending a strong signal that Obama’s economic proposals and proposed budget are anything but pro-growth.  Obama Delivers $3.6 Trillion Budget Blueprint runs the risk of raising taxes at a time of economic distress. Raising taxes was a prime factor that increased the economic malaise in the 1930s. Obama is willing to take that risk as he sticks to his campaign plan and is pressured by the liberal wing of the Democratic Party. (more…)






Recent Posts


ECONOMIC ALL-STARS


Archives