• December 11, 2019

LETTER TO THE EDITOR: A repeat of 1992? - Odessa American: Letters To Editor

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LETTER TO THE EDITOR: A repeat of 1992?

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Posted: Sunday, September 15, 2019 6:30 am

I still recall turning on our television and hearing Ross Perot. For my family, probably not what they would have wanted, we didn’t have cable, so we had to watch what was available over the air. However, for me, I was fascinated and looked forward to his broadcasts, not typical for a 15-year-old. Back during the Reagan reelection of 84’, for whatever reason, I became a fan of political elections. The philosopher and novelist, George Santayana once quoted “Those Who Do Not Learn History Are Doomed To Repeat It.” We are on the precipice of such an event. With the election of a new president just a year away, on the surface, it would seem like President Trump will be easily elected. Just take a look at the Democratic Party, it looks like they are incomplete turmoil, twenty plus candidates? I see a very different image than is typically portrayed on political memes; I see a glacier. Underneath the water, that is where you get to see the real picture.

Our economy is on the brink of a recession. When you read about how the whales of wall street are pulling out billions from the market or cashing their stocks on certain corporations, one has to take notice. It’s no secret that the market is way overdue for a correction; unfortunately, it looks like this next one will be that and much more. This whole tariff war we got going on with China does not help matters at all. China is not going to pay for those tariffs; the American consumer is who will end up paying the higher costs of these products. George Bush Sr. famously quoted during his first term, “Read my lips, no new taxes.” We all know how that turned out. While President Trump has not made such a quote, unfortunately, these tariffs will do the speaking for him next year. So now that we have the two fundamental dynamics in play that cost Bush Sr. his reelection, the economy, and taxes. What happens now?

If you are a Republican, you want the economy to crash now, as in yesterday. Americans, in general, have short term memory, so the hardships and challenges that they could and will be facing today would all but be forgotten by this time next year. It would be hard to blame the current administration, especially when they see the economy coming back this time next year. However, if you’re a Democrat, you want this bubble to stay as is as long as possible. Americans are not prepared for the type of economic crisis currently brewing, makes us very vulnerable. So this my friends, is just a small glimpse of what is going on beneath the waters.

I am no economist or hedge fund manager, I am just a somewhat “regular” person that looks at data every day, It’s how my mind works. I was able to see the Trump train being built before most, and I was told numerous times I was crazy. I can see this same train on a track that is about to hit a railroad switch, curious to see which one it branches off too.

Odessa, TX

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