If people like conspiracy theories, why not look at real ones

There has been a lot of press about Marjorie Taylor Greene, an advocate of the conspiracy theory website QAnon winning a GOP primary in Georgia. Unless the GOP finds its conscience, she will become a member of Congress. Getting less press is Madison Cawthorn who is the GOP candidate running for now Chief of Staff Mark Meadows’ old seat. Cawthorn has some social media references to white nationalists and has bragged on visiting the Hitler bunker in Germany. In this case, the GOP leadership supported his opponent in the primary.

Some folks are unfamiliar with QAnon, but the president is not one of them. He often parrots conspiracy theories and it is nirvana for a conspiracy author to hear their words come out of his mouth. My favorite QAnon story is Hillary Clinton was running a Satanic child pornography ring out of a pizza parlor in Washington DC to raise money. As asinine as this sounds, a North Carolina man armed for bear with an AR-15, showed up at the pizza parlor and is now in jail serving the third year of his four year sentence.

Another conspiracy theory is the deep state is trying to unseat Trump. Per Michael Lewis’ well researched book “The Fifth Risk” on the briefing materials that incoming Trump people did not choose to read or show up for a briefing, the deep state are those hard working folks who remember their oath and know what they are talking about. The purpose of Lewis’ book (who read the unclassified materials) is to reveal the many risks that are not being talked about that keep these folks up at night whether they were forced to resign or remain employed – chemical and nuclear waste type risk inside of the US, eg.

But, the best example of conspiracy theories, is Alex Jones of InfoWars. He said for years that the Sandy Hook shooting of twenty-seven children and teachers was a hoax. He was sued for damages by distraught parents and lost his case and the appeal. From what I gather, he is at least been fined $550,000, but it may be more. Jones now confesses that Sandy Hook was not a hoax.

These are all untrue conspiracy theories. But, if people are so fascinated by such, there are real ones right in front of us. Here are a couple:

– The New York Times* reported Senator Mitch McConnell had a report by the nonpartisan Congressional Research Service buried before the 2012 presidential election. Why? It was the fourth study by a reputable entity showing data that trickle down economics does not work.

– The Hill** reported (and Lewis’ book expands on) the following true story. Trump appointed a for profit weather company CEO to run NOAA and its weather service. Lewis reports that Barry Myers is using the weather service tax paid efforts in his for-profit business. That is called a conflict of interest.

– The Charlotte Observer*** reported on the Trump appointed Louis DeJoy as postmaster general having a conflict of interest in hamstringing the postal service, noting he has between $30 and $75 million in investments in for-profit delivery service competitors.

– Then there are the older true stories of Bill Clinton conspiring to keep a White House affair out of the press leading to his impeachment for lying under oath, Ronald Reagan conspiring in the Iran-Contra affair to illegally sell weapons to Iran for money to support the Contra rebels in Central America and, of-course, Richard Nixon’s Watergate conspiracy which led to his resignation before being removed.

These are real conspiracies. They deserve to be looked into by the ethics officers and Inspectors General. The fact the last two have occurred on the president’s watch makes his firing of Inspectors General even more disturbing. Why this is not a big issue to Republicans is beyond me and certainly not in keeping with the good governance. One of my GOP Senators wrote to me it is in the president’s purview to fire people, but what he lost sight of is the president is firing the umpire not the player. If a publicly traded company CEO fired audit people who had reported abnormalities, the Board of Directors’ Audit Committee would be looking into it.

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* Here are the first two paragraphs of The New York Times article from 2012.

“What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century, produces a research study that finds absolutely no correlation between the top tax rates and economic growth, thereby destroying a key tenet of conservative economic theory?

If you are a Republican member of the United States Senate, you do everything in your power to suppress that report—particularly when it comes less than two months before a national election where your candidate is selling this very economic theory as the basis for his candidacy.”

** Here are the first three paragraphs from The Hill article:

“President Trump has chosen Barry Myers, the CEO of the private weather forecaster AccuWeather, to lead the National Oceanic and Atmospheric Administration (NOAA).

In that role, Myers, who has served as the chief executive of AccuWeather since 2007, would head the agency charged with executing a broad portfolio of responsibilities ranging from providing severe storm warnings to managing the nation’s fisheries.

If confirmed by the Senate, the nomination would install a business executive at an agency more recently headed by scientists. Former President Obama’s last NOAA administrator Kathryn Sullivan, for example, was a geologist and former astronaut.”

***Here is a select paragraph from The Charlotte Observer Article that cites The Washington Post.

“The Washington Post reported that DeJoy and his wife have between $30 million and $75 million in assets in postal service competitors or contractors, according to her financial disclosure report filed with the Office of Government Ethics.”

Trickle-Down Economics Remains an Unsuccessful Approach

Trickle-down economics continues to get a lot of airplay in conservatively led states such as NC, which is unfortunate, as it has been proven to be an unsuccessful approach to economic growth. In a recent speech at the Center for American Progress, Maryland Gov. Martin O’Malley took aim at trickle-down economics — the conservative theory that fiscal policies benefiting upper earners will improve the whole economy and therefore also benefit the middle and lower classes. “Trickle-down economics has been an abject failure for 99% of Americans,” O’Malley said, according to prepared remarks. “If we want to deliver better results — if we want to strengthen our middle class and expand middle class opportunity — then we have to be willing to make better choices.”

As governor, O’Malley has a strong base of success to speak from. Yet, he does not stand alone in this opinion. The Congressional Research Service, the nonpartisan think tank for Congress, prepared a report on their analysis of the veracity of trickle-down economics and was to release it last fall. The report agrees with the assertion made by O’Malley above. The reason it did not get much airplay is Senator Mitch McConnell had the report buried before the election according to the New York Times.

Yet, a better source may be David Stockman who was budget director to President Reagan. Stockman claimed that trickle-down economics was a favored economic tradition, believing it would benefit the entire country over time. Of course, he did not say that everyone would benefit equally or adequately. Over time, many felt they had been left out of the promised glory. Today, Stockman has a different view from the one he had then. He is on record saying trickle down economics did not work and I have seen him say it.

Even going in Stockman should have read more history.The idea that trickle-down economics is good for the country was ridiculed by economist John Kenneth Galbraith and even FDR. They said that it had been tried in the past and failed. According to Galbraith, it was known as the “horse and sparrow theory.” He said that “If you feed the horse enough oats, some will pass through to the road for the sparrows” and  believed that this idea lead to an economic crisis referred to as the “Panic of 1896.”

Let’s not take Stockman and Galbraith’s retrospective insight by themselves. This belief is also echoed by Nobel Award winning economist Paul Krugman. And, you may want to check out Mehrun Etebari’s article published on June 17, 2003 entitled: “Trickle Down Economics: Four Reasons Why It Just Doesn’t Work.” His thesis is by any of four major measures – GDP growth, Income growth, Wage growth or Improvement in un-employment, trickle-down economics fails to deliver. Here is a link to the article: http://www.faireconomy.org/research/TrickleDown.html.

Two closing thoughts. First, the best comment about trickle-down economics actually comes from one George H.W. Bush (which he borrowed from journalist Paul Harvey) when he was running against Ronald Reagan and before he became his Vice President. Bush referred to it as “Voodoo Economics.” Harvey and Bush were correct.

Second, if people are looking for an economic theory that does promote growth, look to Keynesian economics. People refer to stimulating the economy through government investment as strictly Keynesian economics. The Obama Stimulus was Keynesian economics and unlike what has been drummed into an electorate by the GOP last year, the “Failed Stimulus” actually worked. Who says so? Six economic organizations do – Macroeconomics Advisors, Moody’s Economy.com, IHS Global Insight, JP Morgan Chase, Goldman Sachs and the Congressional Budget Office. They said it improved the economy and would have been even more successful if it was larger.

So, let’s sum up. The GOP is touting an economic approach – trickle-down economics that has been proven not to work.The only people who will benefit from reducing taxes on the rich are the rich. Keynesian economics has been proven to work including the Obama Stimulus plan, which the GOP was able to convince others it did not, even with evidence to the contrary. I think the Democrats need a better press agent.