The title pretty much sums up my thoughts about the approaches in Washington to the fiscal morass Congress and the Presidents created for us over the last several years. Neither political party exhibits anything close to leadership, neither displays any willingness to have meaningful debates on the issues. Instead we get bombarded by poorly crafted messages about the ineptitude of the other side while both groups wait for electoral alchemy to take place and give them the ability to govern without a check on their power.
Anybody that listens to my appearances on the Jarrod Thomas Show will know the voice of my radio stalker. I am not sure I could live in the black-and-white world this individual inhabits. All roads lead to evil investment banks, every political party is wrong, China is the ultimate source of trouble, and so on. Usually he just does his little drive-by rant, selectively quoting anyone that agrees with his ill-pre-conceived notions about the economic world. Last week though he revealed the fatal lack of follow-through that taints all his ramblings.
Energy is a big story in North Dakota, and really North Dakota is a big story across the country. Domestic oil production is really taking off with North Dakota a celebrated part of the story. This graph shows the situation import-export situation for US as a whole.
I am anticipating some commentary from JT on the radio tomorrow about property taxes so I thought it appropriate to reiterate some of my earlier thoughts on taxes. The approach of local area policy makers matters when talking about taxes and tax relief. The typical way I am asked the question is whether or not people in North Dakota, or at least Grand Forks, will see tax “relief?” The answer depends on several factors.
The official release of the advance estimate of Q2 GDP today was actually greeted with a sigh of relief. What does it say about the economy when at 1.7% rate generates relief? The relief of course is because it is not worse, but this number is subject to significant revision and so it may only be a temporary stay. I get asked on the radio all the time about economic recovery. The answer remains the same: there is recovery, but it is wholly inadequate to make people “feel” like recovery has taken hold.