Bill Owens: What Goes Up Must Come Down And Other Confounding Events

Jan 15, 2019

The Stock Market has been roiling for the last several weeks after having achieved new highs, then falling precipitously several thousand points, then it is back up a little but continues an up and down gyration.  Secretary Munich attempted to calm the market right before Christmas, but his words had exactly the opposite effect. POTUS blames Chairman Powell which of course makes little or no sense if one understands how the Fed operates. Housing sales and starts have weakened.  Are trade disputes the cause or is China’s softening economy? 

The Southern Border deployment has vanished from the news as the government shut down is front and center.  What exactly are the troops doing and what is it costing?

The Trade Wars rumble on with no end in sight. US Trade representatives are in China this week to negotiate. China’s made a proposal, but like North Korea it’s weak on substance.  American business people are reluctant to travel to China. None of this will unfortunately, bring manufacturing jobs back to the United States, so the purpose?

The government shutdown lingers on.  Mitch McConnell’s absence is notable, but I guess when POTUS stiff’s you on a deal, you have good reason to be careful.  How can Democrats rely on making a deal with POTUS given this behavior?  POTUS tweet’s attacks against Democrats even though he walked away from a deal two days before the shut down because he was cowed by Rush Limbaugh and other Conservative talk-show hosts. He tries to shift the blame but he owns it. It would be irrational for the Democrats to strike a deal with someone who can’t keep his word. The House and Senate should remember that vetos can be overridden by a two thirds majority of each house.  Reach a reasonable compromise on the budget, including the original 1.6 Billion that was offered and agreed to and then if the President veto’s the bill, then override.  Congress should take back its authority over spending.

POTUS spoke to the Nation for 10 minutes on Tuesday, January 8, 2019 with nothing new in his pitch beyond information that has largely been debunked.  I’m surprised his fundraising e-mail wasn’t included in the speech- maybe you didn’t know that POTUS is fundraising off the shutdown.  On the other hand, Democrats need to explain what their alternative plan is.

Democratic Congresswomen Tlaib’s expletive laced comment about Mr. Trump demonstrates a lack of maturity and class and diminishes the idea that we (the American people) are better than POTUS.  An apology is necessary and appropriate.

Golf was a big deal for Mr. Trump during his campaign as he criticized President Obama for the amount of golf he played. POTUS has played in two years more golf than Obama and is on target to surpass Eisenhower and Wilson.  The facts are Obama played 306 rounds in 4 years while Trump played 333 in 2 years. Eisenhower played 800 rounds in 8 years and Wilson 1200 rounds in 8 years.  Mr. Trump will win at least one prize- Golfing.    How does he square this one up, or is this just like everything else? If I do it, it’s fine; if you do it, it’s the worst thing ever.

Mr. Owens is a former member of Congress representing the New York 21st, a partner in Stafford Owens in Plattsburgh, NY and a Senior Advisor to Dentons to Washington, DC.

The views expressed by commentators are solely those of the authors. They do not necessarily reflect the views of this station or its management.