❝ Modern conservatives have been lying about taxes pretty much from the beginning of their movement. Made-up sob stories about family farms broken up to pay inheritance taxes, magical claims about self-financing tax cuts, and so on go all the way back to the 1970s. But the selling of tax cuts under Trump has taken things to a whole new level, both in terms of the brazenness of the lies and their sheer number. Both the depth and the breadth of the dishonesty make it hard even for those of us who do this for a living to keep track.
In fact, when I set out to make a list of the bigger lies, I thought there would be six or seven, and was surprised to come up with ten…
This is a Trump special: he’s said it many, many times, most recently just this past week. Each time, fact-checkers have piled on to point out that it’s false. Here’s taxes as a percentage of GDP, from the OECD:
❝ The blue bar is the US; the red bar the average for advanced countries.
Why does Trump keep repeating what even he has to know by now is a flat lie? I suspect it’s a power thing: he enjoys showing that he can lie repeatedly through his teeth, be caught red-handed in his lie again and again, and his followers will still believe him rather than the “fake news” media.
Read ’em and weep, folks. Paul Krugman nails our fake president. The chumps who voted for the Trump simply do not care if he lies. They love his misogyny, racism, broadcast bigotry and unabashed ignorance. He doesn’t have to know more than they do. Little enough is good enough for hypocrites. And losers.
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❝ Players and coaches from Bundesliga side Hertha Berlin kneeled prior to Saturday’s game against Schalke in a stand “for diversity and against violence.”
“Berlin is colourful,” the public address announcer at Olympiastadion Berlin said, according to ESPN FC’s Stephan Uersfeld. “Hertha BSC stands for diversity and against violence. For this reason, we are joining forces with the protest of our fellow American athletes to take a stand against discrimination. For a tolerant Berlin, both now and forevermore.”
❝ …Ivorian forward Salomon Kalou told reporters Hertha Berlin got the idea to kneel from NFL players who have protested social injustice and racial inequality during the American national anthem.
“As Hertha we always fight against racism,” he said, per Uersfeld. “For us, kneeling down is a way of fighting against this kind of behaviour. It should not exist in any kind of sport. Not in NFL, and not in football or soccer, like they call it in the U.S.—it shouldn’t exist in any sport, period. For us, it’s a good example to show.”
Meanwhile, individual gutless owners of American sports teams, NFL officials and candyass politicians kissed Trump butt. They have taken a constitutional symbol of protest and tried to turn it into an act worthy of the sort of pseudo-patriotic witch-hunt we haven’t witnessed since the inglorious days of McCarthyism.
I’ll take constitutional guarantees over quasi-religious breast-beating any day
Another Republican Golden Shower
❝ The other day, President Donald Trump shared a few thoughts about the stock market.
Like so many of the president’s statements, this one is objectively false. Our charge today is to set aside the political debate, and instead use his statement as an opportunity to explore ways to compare markets and rallies…
❝ No. 1. U.S. Presidential Rallies: As Bloomberg News reported the other day, “the ‘unprecedented’ stock market rally since his election right now isn’t big enough to crack the top five in presidential history.” As the accompanying chart shows, the Standard & Poor’s 500 Index has gained 19 percent since the 2016 election. That rates better than three other post-presidential elections: George W. Bush in 2004 (7 percent), Bill Clinton in 1992 (10 percent), and Barack Obama in 2012 (16 percent).
❝ …The Trump rally clocks in at No. 7. While that is pretty good — remember that markets fell after some presidents won election — it is hardly unprecedented.
Just as an aside — I am on record as reminding people that all presidents get too much credit when things go right and too much blame when they go wrong. Using market performance as a basis of presidential prestige or lack thereof is the refuge of partisan hacks and scoundrels.
❝ No. 2. Global Rallies: As we have discussed before, looking at a market rally in the U.S. while ignoring gains overseas is a foolish approach to performance analysis…
❝ The president seems to be naïvely making absolute performance claims while ignoring the data on relative performance. Imagine a mutual fund or hedge fund manager making similar claims. The disciplinary fines would be enormous.
Either way, the investing public deserves better.
RTFA for a bit more detail and illustration from Barry Ritholtz. No matter, market gains since Election Day simply have been nothing out of the ordinary.
Trump, as usual, lies like a rug. The fake news comes from a fake president.
❝ President Donald Trump said he wanted what amounted to a nearly tenfold increase in the U.S. nuclear arsenal during a gathering this past summer of the nation’s highest-ranking national security leaders, according to three officials who were in the room…
❝ Officials present said that Trump’s comments on a significantly increased arsenal came in response to a briefing slide that outlined America’s nuclear stockpile over the past 70 years. The president referenced the highest number on the chart — about 32,000 in the late 1960s — and told his team he wanted the U.S. to have that many now, officials said.
The U.S. currently has around 4,000 nuclear warheads in its military stockpile, according to the Federation of American Scientists…
❝ It’s unclear which portion of the Pentagon briefing prompted Tillerson to call the president a “moron” after the meeting broke up and some advisers were gathered around. Officials who attended the two-hour session said it included a number of tense exchanges.
The gathering included many of our highest-ranking national security leaders…and the account was confirmed by three officials who were in the room.
Over and over again, fools who think flags and fake presidents will bring them the riches and power reserved only for those who actually own America…get what history reserves for those who believe in patriotism over peace, slogans instead of the steady march of science and technology, peasant ideology over knowledge, collaborating with political thugs who twist and bend life into death.