Stupid Georgia Republicans let 11 candidates run for Tom Price's seat

Ross Douthat might as well write for The New Republic instead of The New York Times

Here, sounding just like Brian Beutler:

[R]ight now [Trump's] presidency is in danger of being very swiftly Carterized — ending up so unpopular, ineffectual and fractious that even with Congress controlled by its own party, it can’t get anything of substance done. ... [T]he more the Trump White House remains mired in its own melodramas, the more plausible it becomes that the Trump-era House and Senate set a record for risk avoidance and legislative inactivity.

Yeah, 23 days in and he's already a failure because there's no . . . wait for it . . . [infrastructure] spending bill and a tax cut bill, the two great incompatibles which Gallup says most people want.

Isn't The New York Times supposed to be wiser than that, admonishing that you can't have your cake and eat it too? Well, its so-called conservatives at least should be so wise.

The fact of the matter is the Gallup poll result, which is the same as the Douthat wish list, reveals the bipartisan nature of Trump's support. The people who support increased spending and the people who want tax cuts populate two different political parties. Perhaps Douthat has heard of them? Getting them to agree on this stuff is going to take a lot more time than 23 days. It took Barack Obama over four years to come up with his tax cut. Unfortunately for Obama it was Bush's tax cut, not delivered by Dingy Harry and San Fran Nan but by John Boehner at the dawn of 2013. What Harry and Nancy did immediately deliver was jacked up "infrastructure" spending within a month of 44's inauguration, adding a $700 billion increase to Bush 2009 fiscal year spending, making the one time stimulus a permanent part of the budget.

It is the biggest untold scandal since the Fed secretly lent trillions and trillions of dollars to the world at rock bottom prices on questionable collateral during the financial crisis from 2008-2010.

Because Republicans took the House in 2010, that additional $700 billion got no higher, but what do we have to show for it after increasing outlays $700 billion in 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016?

Where's the infrastructure after eight years and $5.6 trillion in increased spending?

Another trillion dollars will accomplish nothing.

Meanwhile Trump is delivering to his base, which is the first thing he must do, rescinding Obama executive orders, undercutting the ObamaCare mandate as Congress prepares its repeal, actually laying the groundwork to build The Wall (infrastructure!), rounding up criminal aliens (the horror) and trying to reduce terrorism threats which exist because of a chaotic immigration system, except the courts the enemy is trying to stop him.

He's also vilifying the media whom we also hate every chance he gets, and now the judiciary, the tag team which advances liberalism against the will of the people who overwhelmingly support Trump 2600 counties to 500 counties for the enemy.

And most of all, he's not being Hillary.

It's been a great 23 days. 

Tom Price confirmed to HHS 52-47

Here.

Republicans develop a spine, advance nominees Mnuchin and Price without Democrats who are boycotting the process

From the story here:

By unanimous consent, the Republicans gathered in the hearing room agreed to change the committee’s standing rules, which normally require at least one member of each party to be in attendance for committee work to proceed.

“It’s just another way of roughing up the president’s nominees,” said committee Chairman Orrin Hatch (R-Utah). “They have been treated fairly. We have not been treated fairly.”

Republicans made the unusual move after Democrats refused to attend a vote on the nominees for two days running, arguing the pair had made misleading statements to lawmakers that needed to be rectified.

The Trump cabinet and administration so far as rated by Numbers USA

Jeff Sessions: A+

Mike Pompeo: B+

Ryan Zinke: B-

Rick Perry: C

Tom Price: C

TARP ends, but conservatives still don't realize it was just a sideshow

Existing crisis loans 1st of the month in billion$

That TARP was just a sideshow was not known at the time in 2008, but it should be known by now.

Too bad conservatives haven't paid attention.

TARP assumed the role of the main actor on the stage of the financial panic as the liberal government of George W. Bush tried to show that it was capable of doing something to bring the panic of 2008 to an end. Bush at length signed the TARP legislation on October 3, 2008, at which point the stock markets promptly rewarded him by caving over the next three weeks, setting the stage for the final denouement by March 2009. Only Securities and Exchange Commission changes to mark-to-market accounting rules at that point stopped the cratering and put a floor under stock prices. Meanwhile behind the scenes the liberal government of Woodrow Wilson in the form of the Federal Reserve had already been hard at work for months frantically doing the real rescue.

Now that TARP is over, liberal political operatives are wont to characterize TARP as a success because it supposedly made a profit accruing to the government, and hence to The People, who are ever almighty in liberalism. They also say this to keep our eyes off the ball. "Conservatives" continue to take that bait and argue there was a loss to TARP, never examining themselves to see if they are in the larger truth. National Review's Matt Palumbo is just the latest example, here, quibbling over a few measly billions of dollar based on an argument from inflation to substantiate a loss to TARP.

It doesn't get much more pathetic than that.

TARP became the sideshow it always was once and for all when Bloomberg News, using the Freedom of Information Act, forced the Fed long after the fact in late 2010 and early 2011 to reveal the true scope of its bailout of the world in 2008-2009. Behind the scenes the rest of us had groped in the dark trying to fathom TARP's $700 billion bailout, when that turned out to be just a decimal point in the real bailout, the Fed's $7.7 trillion lending authority through the discount window and other programs.

"Conservatives" still haven't grasped this.

Over five million Americans lost their homes in the wake of the panic, almost 30 million ended up filing first time claims for unemployment in 2009 (85% more than did just last year), and almost eight years after the employment peak of 2007 full-time jobs still have not recovered, the most disgraceful record in the post-war.

The Federal Reserve bailed out hundreds upon hundreds of large banks and corporations not just in the United States but all across the globe by backstopping them with promises of huge sums if needed while regular Americans were simply left to fend for themselves:

$7.77 trillion -- The amount the Fed pledged to rescue the financial industry, according to Bloomberg research that examined announced, implied or actual upper limits on lending and guarantees. This number, which represents potential commitments, not money out the door, was first published in March 2009, when it peaked.

“One of the keys to understanding why we’ve avoided another Great Depression, so far, is to see how bold the Fed was in 2008 and 2009,” said Niall Ferguson, a Harvard University history professor. “That boldness consisted of a range of contingency commitments that backstopped the banking system. Just because they weren’t used doesn’t mean they weren’t important.”

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Actual loans at rock bottom prices over time amounted to about half that, at $3.3 trillion, as can be appreciated here in just one of the lending programs of the Fed, the famous discount window. The low interest rates charged there, a sideshow in themselves, are thought to have benefited the banks at the same time by about $13 billion, according to Bloomberg, over what they would have had to pay at market rates.

That was simply the cherry on the gargantuan crony capitalism cake, an object, I am sure, of singular fascination for the likes of the Matt Palumbos of the world.

That spike in the graph is the discount window lending in the 2008 panic

Zillow says 10 million mortgages remain underwater concentrated among homes worth less than $100,000

CNBC's Diana Olick reports here:

Nearly 10 million borrowers still owe more on mortgages than their homes are currently worth, according to Zillow. That has kept them stuck in place. ... affordable homes are still drowning disproportionately. They are three times more likely to be underwater than expensive homes, according to Zillow. Thirty percent of mortgaged homes in the bottom price tier ($98,400 and below) are in negative equity, compared with 18 percent in middle tier ($90,400 to $306,700) and 10.7 percent in top tier ($306,700-plus).