The Axios disease is spreading, as they have taken to giving some brevity at the top in what I can only describe an enigmatic bullet usage:
- Benefits from what President Trump called “the biggest reform of all time” to the tax code have dwindled to a faint breeze just 20 months after its enactment.
- Half of corporate chief financial officers surveyed by Duke University expect the economy to shrink by the second quarter of 2020. Two-thirds expect a recession by the end of next year…
- The strongest case for its economic benefits is that it remains too early to see them.
The last bullet point is, to me, the funny one: have patience, sooner or later Trickle-down will work!
And who raised that point? Seriously, which numbskull really said that outloud 40 years later in which there is no evidence that VooDoo Economics has ever worked, to be patient?
Testifying before Congress earlier this year, Holtz-Eakin found “promising indicators” in the 2018 growth and investment increases while cautioning that it’s too early for definitive judgments.”
“Republican economist Doug Holtz-Eakin has noted, for example, that many of the corporate stock buybacks benefit nonprofit entities such as pension funds with incentives to channel the proceeds into new investments.
He seriously is claiming that stock buy-backs benefited the little guy because maybe their pension funds (and I have yet to meet ONE SINGLE PERSON in my entire life that has a non-public payroll pension) might have benefited from a stock buy-back.
Who is this Eakin, you ask? His name sounds familiar!
- Senior Staff Economist on President George H.W. Bush’s Council of Economic Advisers
- Director of the Congressional Budget Office during part of Chimpy’s Reign of Error
- Financial Crisis Inquiry Commission in 2009, appointed by amply be-chinned Mitch McConnell
- Chief economic policy adviser to U.S. Senator John McCain’s 2008 presidential campaign
Holz-Eakin has quite a distinguished career at being wrong about everything since always.