All posts by Steve Stern

Still Thinking About The Convention

People forget how divided our Country was under ObamaBiden. The anger and hatred were unbelievable. They shouldn’t be lecturing to us. I’m here, as your President, because of them! Tweet by Donald J. Trump @realDonaldTrump 45th President of the United States of America Washington, DCI nstagram.com/ saying what most of us have been thinking.

President @realDonaldTrump just signed his ABSENTEE BALLOT! This is very different than universal mail-in ballots, which would be a total disaster for our country. REQUEST YOUR ABSENTEE BALLOT! VISIT: http://vote.donaldjtrump.com Team Trump (Text TRUMP to 88022) @TeamTrump The official Twitter account for the Trump Campaign. Together, we will KEEP AMERICA GREAT!

Our president has failed in his most basic duty to this nation. He failed to protect us. He failed to protect America. And that is unforgivable. @JoeBiden Senator, Vice President, 2020 candidate for President of the United States, husband to @DrBiden, proud father & grandfather. Loves ice cream, aviators & @Amtrak

Donald Trump is not responsible for COVID-19 — but he does bear full responsibility for the failed national response. We’ve got to hold him accountable this November. @JoeBiden Senator, Vice President, 2020 candidate for President of the United States, husband to @DrBiden, proud father & grandfather. Loves ice cream, aviators & @Amtrak

I think that the Socially Distanced Democratic Convention was terrific but I’m not sure that I’m the right demographic to make an impartial judgement. Sure, I’ve got my beefs, starting with the abysmally poor representation of the Progressive wing of the party – Ilhan Omar got zero time as did Rashida Tlaib, Ayanna Presley, and Cory Bush (Lauren Underwood got about five seconds) – but, by Thursday night, I was convinced that Biden is the best choice for right now. My opinion may not mean much, however. Rasmussen Daily Presidential Polls showed Trumps approval rating going from 47% to 51% over the term of the Convention. But take that with a grain of salt because the Poll was sponsored by Liberty Nation who does have a dog in the fight.

I thought the Convention had the intimacy of a Zoom call and I mean that sincerely and in the best possible way. Like a Zoom call, we watched the participants with less background distraction than normal; it pretty much compelled us to pay attention. I especially liked the rollcall from everybody’s home state rather than standing-up in a crowded, noisy, auditorium. I’ve been to one California State Convention and one National Convention and, except for the headline speakers, nobody is paying much attention to what is going on at the podium. This was different, all we had was what was going on at the podium. Ricky Kirshner, who apparently been working on every Democratic National Convention since Clinton ran in 1992, did a great job adjusting to a very bad situation.

This Convention seemed especially coherent building from an unsteady start on Monday to to a crescendo on Thursday. Along the way, there were some very memorable lines and speeches and some very forgettable ones. On Monday, Senator Amy Klobuchar was forgettable as was Bernie except for my favorite line, “Nero fiddled while Rome burned. Trump played golf.” but Michelle Obama gave a super speech stressing that Trump is flat out incompetent.

On Tuesday, Representative Alexandria Ocasio Cortez was given one minute and I thought she made the most of it. President Clinton was excellent; I had forgotten how good an explainer he is. I thought poor President Jimmy Carter was misused. He is 95 and feeble so he probably should have just said, : “Hi, vote for Biden.” Speaking of saying “Vote for Biden”, the Democrats are really afraid of voter suppression and everybody said some variation of “Please vote, voting is critical. We must vote. Vote!” My favorite speaker of the day was Dr. Jill Biden and her obvious love for Joe went a long way towards convincing me that he is a very decent man.

Wednesday was Women’s Day and I thought Senator Kamala Harris was very good, but this would have been a great time to showcase The Squad. I missed them, not because they are Progressive voices – I had given up on that by Tuesday’s Keynote Speech(s) – but because they are such good communicators. They are voices that would have helped the Party communicate with and involve the – supposedly -elusive young voter. The day ended on a highnote, however, with President Barack Obama giving the speech I had expected him to make at Representative Lewis’s funeral. My favorite quote was, “For close to four years now, he’s shown no interest in putting in the work; no interest in finding common ground; no interest in using the awesome power of his office to help anyone but himself and his friends; no interest in treating the presidency as anything but one more reality show that he can use to get the attention he craves. Donald Trump hasn’t grown into the job because he can’t. And the consequences of that failure are severe. 170,000 Americans dead. Millions of jobs gone while those at the top take in more than ever. Our worst impulses unleashed, our proud reputation around the world badly diminished, and our democratic institutions threatened like never before.”

I briefly thought I might skip Thursday, I have seen Vice-President Joe Biden speak numerous times and I was getting burned out but I’m glad I didn’t. He gave the best speech I have ever seen him give but I was already convinced that Joe Biden is a deeply decent guy. That heavy lifting was already done by Jill Biden and a young man with a stutter, Brayden Harrington, who went on National TV, most likely knowing he would stutter in front of the world when he spoke of Joe Biden, a fellow stutter, taking the time to talk to him about his stuttering.

Next week will be the Republican Convention and it will be interesting to see how it is different than this last week has been. Kind of ironically given Trump’s position of the Climate Crisis, it is likely that we will have two Tropical Storms or even Hurricanes hit the Gulf Coast during the Republican Convention next week and I will be particularly interested to see how Trump handles that disaster. It could give him a chance to shine, to show his leadership, but I think Michelle Obama was right when she said, “…he is clearly in over his head. He cannot meet this moment. He simply cannot be who we need him to be for us.”  

The Edge of Rage

We must be in the top 1% when it comes to the actual quality of life we’ve had for the last six months. All the things that normally make our home inconvenient, the isolation and encroaching nature, make it a great place to sit-out a pandemic. We are up about 70 stairs from the street and where our backyard ends, a permanent open space starts. This morning I went for a walk – I just walked out of the house, down the stairs, and off on to the trail – and I didn’t see another person (although I did see a Tesla drive by on the street while I was on the trail). It is Summertime and the Living is easy, or it should be. But I read that President Trump is trying to shutdown the Post Office to improve his chances for re-election and I am almost instantly enraged.

Last night, we sat  on our deck and had a shrimp salad with heritage tomatoes for dinner as we watched and felt the day end and the night come alive. Our life is good, and yet, when I read that the very conservative former governor of Ohio, John Kasich, is speaking longer than AOC at the Democratic Convention, I was instantly furious.

My life in quarantine is great and/but/still, behind that, under that, is a deep fear that masquerades as anger when it surfaces and acts out at the least provocation. Not so much fear for me or even the planet, which will be just fine in five million years or so, but fear for my country – which I must say, surprises me (and tickles me) a little – and even more, fear for us, earth’s people, for our home. It’s not like I wake up in the morning and say “Holy shit, the world is ending.”, I wake up and fed our cat, Precious Mae, and then go out on the back deck to greet my little cloistered world. It is hard to stand there and not be thankful to what ever process brought us together at this moment, and yet, and yet, that deep and subtle underflow of dread is there. We are destroying our home.

I’m retired and I don’t have to go to work, I don’t have to worry about my kids and school, I am here, safely feeling the season change, eating great meals. Still, the fear is there, not dormant, almost lurking, waiting for a reason to flare up into anger.

The Good News Is That All Of A Sudden Everybody Believes In MMT

President Trump on Friday signed into law the largest rescue measure in history, a $2-trillion economic relief package to get money to many Americans as well as hospitals, businesses, and state and local governments struggling with the pandemic. Los Angeles Times March 27, 2020.

The central idea of MMT [Modern Monetary Theory] is that governments with a fiat currency system can and should print (or create with a few keystrokes in today’s digital age) as much money as they need to spend because they cannot go broke or be insolvent unless a political decision to do so is taken.

Traditional thinking says such spending would be fiscally irresponsible as the debt would balloon and inflation would skyrocket.

But according to MMT, a large government debt isn’t the precursor to collapse we have been led to believe it is, countries like the U.S. can sustain much greater deficits without cause for concern, and in fact a small deficit or surplus can be extremely harmful and cause a recession since deficit spending is what builds people’s savings. By Deborah D’Souza in Investopedia, updated May 6, 2020.

After intense wrangling, the heads of government in the European Union agreed to a €750B stimulus package. The negotiations were even more tricky than usual, though the outcome was hailed as a breakthrough. It is the first time the EU as a block will issue bonds on a huge scale to back stimulus, spreading the fiscal risk among all member countries. The Economist July 25th 2020.

The Green New Deal is all about spending huge amounts of money. Money is needed to both fight Climate Change and provide new, good, union-wage-scale jobs to currently underpaid workers. The question is where is that money going to come from. The most obvious answers are Taxes and other programs, such as Military Spending. Neither of those will be easy although using military contractors to build some of the Green New Deal infrastructure might keep their lobbyists from trying to squelch the Green New Deal spending. Another way to get money is to borrow it. However, there is a major problem with the government borrowing lots of money, in the conventional thinking, government debt, especially huge government debt, is considered one of the cardinal sins.

For years, almost my entire adult life, we’ve been told that that a large National Debt, by its self, is a problem. For as long as I remember, one of Washington’s most reliable rituals is the Republicans cutting taxes when they are in power and the Democrats raising some of the taxes again but mostly cutting programs when they come into power because everybody agrees we have to reduce the National Debt.

Modern Monetary Theory, better known as MMT, disagrees. MMT says that a large National Debt is not a problem if it is not inflationary. They point out that Japan has been running a huge National Debt for years without inflation. They also point out that with all the increase in the money supply during the Obama Administration, conventical economics says that we should have rampant inflation by now, but we haven’t. We haven’t even had any inflation with the additional Debt brought on by Trump’s massive tax cuts for the wealthy. Actually, because we haven’t any inflation and a little inflation is considered good, to induce inflation, the Federal Reserve has even dropped the interest rate to a hyper-low 1/4 of a percent.  

I think the first time I heard of Modern Monetary Theory was when AOC said it “‘absolutely’ needs to be ‘a larger part of our conversation'” in an interview with Business Insider. She was referring to the financing required for the Green New Deal whose core premise is that we need to react to the Climate Crisis in the same way we reacted to World War II because the threat is comparable. That was back before she became Representative Ocasio Cortez, before she became a household name as AOC, when people still called her “Sandy the Bartender” – some in awe but most in a derogatory way – and MMT seemed sort of nutty. Then I found out that AOC had a degree in International Relations, with a minor in Economics, from Boston University, and she had graduated with Honors and I thought I had better bring myself up to date. 

While governments – to quote Business Insider – that control their own currency can spend freely, as they can always create more money to pay off debts in their own currency, may seem nutty, it is based on reality and was the basis for the Federal Reserve one trillion dollar bailout of the 2008 financial crisis. When then then Chairman of the Federal Reserve, Ben Bernanke, was asked where the one trillion came from, he said: “It’s not tax money. The banks have accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed. It’s much more akin to printing money than it is to borrowing. Well, effectively. And we need to do that, because our economy is very weak and inflation is very low.”

We have an astounding number of national problems right now and assuming that the Democrats get into power in 2020, they will want to spend a huge amount of money to solve – or try to solve, or (if you are a pessimist) pretend to solve – them. The easiest way to raise this money is to create it either by borrowing or printing. It turns out, that it is also just good economics. 

A Short Twitter Thread

AOC Only Gets 60 Seconds At Democratic Convention To Deliver Pre-Recorded Message Rachel Sandler Forbes Staff

“I only have a minute.
Sixty seconds in it.
Forced upon me, I did not choose it,
But I know that I must use it.
Give account if I abuse it.
Suffer, if I lose it.
Only a tiny little minute,
But eternity is in it.”
Dr. Benjamin E. Mays (and recited by Elijah Cummings)

Tweet by Alexandria Ocasio-Cortez @AOC US House candidate, NY-14US Representative,NY-14 (BX & Queens). In a modern, moral, & wealthy society, no American should be too poor to live. % People-Funded, no lobbyist. She/her Bronx + Queens, NYC ocasiocortez.com

Replying to @AOC
You’ve got this. Remember all those poems we recited together in 2nd grade? It was prep for this moment. You’ve got this. Tweet by mjacobs @mjacobs324 Veteran elementary teacher. Uncertain about our future but inspired by former student @AOC and hopeful for Biden/Harris Joined June 2016


Alexandria Ocasio-Cortez @AOC
Replying to @mjacobs324
Ms. Jacobs! Is that you?! Yes, I do remember the poems we recited in second grade! You prepared me perfectly for this moment. Thank you for teaching me, encouraging my growth, and believing in me as a child.

Kamala Harris

Photo by Michele Stern

I’ve fought alongside Senator @KamalaHarris for direct cash payments during the pandemic and for clean water as a human right. Now let’s defeat Trump and make those policies a reality, Rashida Tlaib.

[Kamala Harris] is responsive to activist and movement pressure to make climate a top priority.” Evan Weber, political director of the Sunrise Movement, applauding the partnership between Harris and AOC on Climate Legislation.

Congratulations to @KamalaHarris, who will make history as our next Vice President. She understands what it takes to stand up for working people, fight for health care for all, and take down the most corrupt administration in history. Let’s get to work and win. Congratulatory Tweet by Bernie Sanders.

Senator Kamala Harris is not my first choice for Biden’s Vice President but I think she is a good choice. She is smart, ambitious, and almost gorgeous. Most importantly, she doesn’t have a glass jaw and she should be able to easily take what ever Trump & Company are going to dish out (for the same reason as Ilhan Omar, Rashida Talib, Ayanna Pressley, and AOC are so tough; they are all smart, very agile, women of color and because of that they all grew up having to fight the “slings and arrows of outrageous fortune” {and President Trump & Company can certainly be described as outrageous fortune}).

As an sort of aside, people of color, especially women are almost always subtly judged to a higher standard than men, for example when Lyndon Johnson won over Barry Goldwater with 61% it was rightly reported as an “historic landslide”. When AOC beat a Wall Street and Chamber of Commerce supported competitor in this primary, with 74.6% percent of the vote, it was described as “surviving a well funded primary challenge”. End aside.

Harris is somewhat of a protégé  of Willie Brown, who, himself, is an amazing politician, having been born in the small jerkwater town of Mineola in East Texas, he ended up being arguably the most powerful person in Californian politics before he retired to become mayor of San Francisco. They dated in 1994-95 when she was an Assistant DA of Alameda County; he was 60 and she was 29. Willie Brown, I imagine, had a lot to teach Harris and Harris is proving to be an excellent student.

Harris is described as somewhat of an centrist but I do think she is to the left of Biden in both climate and racial issues still, that is hard to tell because both Biden and Harris are moving left with the Progressive tide. However, according to The Daily Beast, since January 2019, congressional records show that Harris has signed on to 18 bills Sanders introduced, while Sanders has similarly added his name on 20 pieces of legislation put forth by Harris. 

These are unusual times and everything I read says that pandemics usually lead to major changes so it should be an interesting time as well. Change does feels like it is in the air and that is thrilling but it is good to remember that “May you live in an interesting time” is a Chinese curse.