The economic question which people ask me most often these days is whether the media can talk the economy into a recession.
For months I’ve been warning that economic growth was slowing down. Now it’s undeniable: The economy has slowed … and people are trying to figure out where to place the blame.
This is going to be kind of hard for me to say, but for once, I don’t think the media is to blame. This slowdown is not driven by falling consumer confidence, the sort of thing that the media can influence.
No, this slowdown is driven by a slowdown in big-ticket capital spending: factories, power plants, gigantic earth movers, ships, planes, etc. which are not performing well. Decisions about those items are made by serious analysts with serious spreadsheets, not by watching cable pundits.
There’s no need to point a finger at the media on this one.
Want to move the needle back to boom again? Stop the policy uncertainty.Read More »
Townhall Review – July 20, 2019
Hugh Hewitt talks with Wisconsin Representative Mike Gallagher about the Iranian attacks on oil tankers and what the U.S. response might be.
Dennis Prager testifies before a U.S. Senate Judiciary Committee about YouTube’s censoring many of PragerU’s videos.
Sebastian Gorka and U.S. Secretary of State Mike Pompeo talk about the State Department’s initiative on “inalienable” rights.
Hugh Hewitt talks with Oklahoma Senator James Lankford about his efforts to halt government shutdowns due to budget impasses.
Hugh Hewitt and U.S. Secretary of State Mike Pompeo talk about Iran’s attacks on oil tankers and the State Department’s Second Annual Ministerial on Religious Freedom demonstrating that America still believes religious freedom is worth fighting for.
Mike Gallagher talks about a YouTube executive in San Francisco who is being called racist because he challenged a stranger, who happened to be black, who “tailgated” him into his apartment complex.Read More »
President Trump scored a big win last week after his weeks-long confrontation with Mexico over our neighbor’s lax enforcement of its southern border, and it’s left his critics sputtering.
They’re scrambling to find some way of containing what is a clear Trump triumph—and their flailing about denies the obvious: Trump played high-stakes poker and won a big round with Mexico on border security.
Media elites, well, many just deny it.
The voters, though— and I don’t mean the “Twitter Democrats,” but voters of all ages and ideologies—are a pretty smart bunch. They know, generally, that tariffs are a lousy idea in terms of economic growth. They know too that tariffs can be a blunt instrument of national power in confrontations unrelated to economic growth.
Trump’s record may be mixed, but not last week. Last week, he won big.
He should resume in full his push for immigration reform and border security talks with Democrats right now.
It might actually work.Read More »
The Trump administration deserves some credit for seeing Iran clearly.
President Obama did not. His efforts to lure Ayatollah Khomeini into changing the behavior of his rogue regime never had a chance because it began from the premise that appeasement works, but appeasement never does work.
Not with Iran. Not with Russia and the famous “reset” button. And not in the 1994 deal with North Korea.
The appeasement policies of Obama have been abandoned. Good!
Iran is dangerously close to provoking a conflict—and most U.S. media outlets are far behind the news curve.
President Trump has been ably served by National Security Advisor John Bolton—as well as Secretary of State Mike Pompeo. Both rightly believe that Iran was, is and will remain a rogue regime as long as the radical theocrats remain in power.
It’s not about Bolton or Pompeo.
It’s about the mullahs in Tehran. It has been since 1979.Read More »