The stock market never had a down year under President Obama. This year it was down under the great Oz, a/k/a The King of Debt, Mr. Tariff, and Donald J. Trump.
Mr. Trump has a lot in common with the Wizard of Oz: consummate con men.
In any case, Happy New Year!
Surely the president must be spazzing out over this, given how fond he is of telling everyone how much better he is than any of our prior presidents.
P.S. Normally, I don’t think a president has much of an impact on the stock market, given that no president controls economic forces or cycles. But this one most surely has had an impact, including a contribution to the current decline.
A U.S. District Court judge in Texas ruled yesterday that the Affordable Care Act (a/k/a Obamacare) is unconstitutional. President Trump is delighted.
Absent a stay, this means no one will have the right to secure medical insurance. If you have a preexisting condition, you can be denied coverage. In fact, you can be denied coverage for any reason. It’s entirely up to the insurance companies. This is what delights President Trump. You see, he really doesn’t give a damn about people. He’s obsessed with negating anything President Obama did or touched. Because it’s all about him. That’s Trump’s world: extreme narcissism.
That’s not to say the ACA is unconstitutional. One thing is certain: that decision won’t be made by a single trial judge in Texas. It will be made by an appellate court. And that will take time. So it’s likely (although not certain) the Texas judge’s order will be stayed.
In any case, what’s clear is we elected a man who has done absolutely nothing to ensure all Americans have access to affordable health care. He’s talked a lot about it. But it’s been all talk. The reality is, he’s not lifted a finger on his small hands to improve or change anything.
Medicines are still unaffordable for many. And insurance and pharmaceutical companies still are raking in huge profits off the backs of hard working Americans. Or, worse yet, withholding medicines and life-saving care in certain instances.
Why we put up with this situation is beyond me. And why we elect a president who doesn’t give a damn about anything but himself is also beyond me.
But at least Mr. Trump is happy. Happy that company profits can once again take precedence over people’s health and well-being.
What a perverted place the world can be.
Lest I mislead you, I do not subscribe to the belief that a president should be judged by the stock market. Or that either Mr. Obama or Mr. Trump was the principal driver in the rise of the stock market during their terms. But some people do, especially, it seems, the Trump acolytes who want others to believe Mr. Trump is a good president as proven by rising stock values. The graph undercuts such silly ideas, although, to be honest, I don’t expect facts to have any bearing on the foolish beliefs some of my fellow Americans tout. We are, after all, living in the post-truth era. It’s the narrative that counts. Facts be damned.
By now you should have gotten the message, Vera: Don’t believe half of what you hear. You just can’t. Not if you want to remain grounded in reality.
But, of course, so much of life has no connection to reality. Rather, it’s a narrative. One that’s often contrived. To serve a particular purpose. Or promote a particular person, party or cause.
Another example of the gap between reality and narrative is staring us in the face today — that is, if we care to look. Continue reading
Today is a big day for the country, Vera. It’s the day Mr. Obama leaves the presidency and Mr. Trump assumes it. I had no intention of writing anything to you about this day; however, I unexpectedly had the urge, so here it is. Continue reading