For about 20 years, Ray Keating wrote a weekly column - a short time with the New York City Tribune, more than 11 years with Newsday, another seven years with Long Island Business News, plus another year-and-a-half with RealClearMarkets.com. As an economist, Keating also pens an assortment of analyses each week. With the Keating Files, he decided to expand his efforts with regular commentary touching on a broad range of issues, written by himself and an assortment of talented contributors and columnists. So, here goes...
Showing posts with label Clinton. Show all posts
Showing posts with label Clinton. Show all posts

Friday, April 1, 2016

Trump, Clinton and Sanders: Welcome to New York, America

by Ray Keating

For some bizarre reason, I’ve chosen to live my entire life in loopy New York. From a political standpoint, that has meant suffering under a one-party system. This New York reality is now spreading across the nation in the current presidential race.

Hillary Clinton, former U.S. senator from New York, squares off with Bernie Sanders, originally from New York, on the Democrat side, and New York City businessman and reality TV star Donald Trump leads among Republicans.

But what do I mean by this “one party” comment? Yes, New York is a deep blue state, but there are Republicans in the state. In fact, Republicans still have effective control of the state senate – barely. The problem is that both parties, for the most part, are Democrats.

The New York Democratic Party ranks among the most hard core of Democrats. They are unabashedly left wing, whether on economic matters or social issues.

Meanwhile, New York Republicans amount to little more than Democrat-Lite. They love big government; are a mixed bag, at best, on most social issues; and are far too interested in pandering to keep some sliver of power. Notions that Republicans should be principled in any way, and work to change hearts and minds on the issues, are treated as an absurdity. Sure, there’s a real conservative here and there in New York, but they are the exceptions. There’s a reason why New York has a Conservative Party. It was created in 1962 to serve as a conservative check on the Republicans, and that need has not gone away for more than a past half-century. Apparently, few Republican Party leaders grasp the idea that if voters have a choice between Democrats and Democrat-Lite, they’re more likely to choose the real thing. And hence, the long decline of Republicans in New York.

Welcome to New York, America.

Turning to the current presidential campaign, the Clintons, of course, chose to move to New York as this Democrat state would give her an excellent shot at winning a U.S. Senate seat. In her 2000 victory, Mrs. Clinton was helped by the fact that Republicans made a complete mess of matters, with Rudy Giuliani dropping out of the race and being replaced by Congressman Rick Lazio, who ran an inept campaign.

Of course, Clinton is an unabashed liberal on nearly every issue imaginable, from abortion to taxes to foreign policy, and beyond. That’s no secret.

Meanwhile, Senator Bernie Sanders, a New Yorker for the first 27 years of his life before moving to Vermont in 1968, manages to stake out ground to the left of Clinton. That’s not easy. But, heck, the guy warmly embraces the socialist label. What else needs to be said?

Welcome to New York, America.

And then there’s Donald Trump. Given his flip-flopping on nearly every major issue, his being devoid of any principles, and his willingness to say just about anything to gain power, along with an inability to think and express himself clearly on issues, Trump rather nicely fits the New York Republican model.

Welcome to New York, America.

In fact, America has become New York. The Democrats serve up radical Lefties. The current leader among Republicans lacks any kind of commitment to or understanding of conservatism and conservative policies.

Funny, I thought New York long ago no longer mattered when it came to national politics. Silly me.

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Mr. Keating is an economist and novelist who writes on a wide range of topics. His Pastor Stephen Grant novels have received considerable acclaim, including The River: A Pastor Stephen Grant Novel being a finalist for KFUO radio’s Book of the Year 2014, and Murderer’s Row: A Pastor Stephen Grant Novel winning Book of the Year 2015.

The Pastor Stephen Grant Novels are available at Amazon…



Tuesday, March 15, 2016

How Bad Could This Presidential Election Get for Republicans?

by Ray Keating

Just how bad could it get for the Republican Party in November if Donald Trump winds up being the GOP nominee, as is the most likely outcome currently?

This is not an idle question. After all, Trump has astoundingly bad numbers in terms of his favorable-unfavorable ratings. Indeed, his unfavorables run at about two-thirds. That’s simply unheard of. Any candidate with unfavorable or disapproval ratings hitting 50 percent is pretty much assured of losing. So, if Trump becomes the GOP nominee, and anything close to these unfavorables persist, the question is not will Trump lose, but how bad will he lose.

Of course, Hillary Clinton also possesses poor favorable-unfavorable ratings, with her unfavorables running at about 54 percent.

Indeed, a Trump-Clinton contest would have two significantly unpopular candidates facing off. Based on these numbers, neither should win. But someone has to, right?

At least at this point in time, Trump’s woes are far more significant than Clinton’s, especially given the significant share of Republicans who would be dissatisfied – 48 percent according to an ABC/Washington Post poll – with Trump as the party’s candidate.

As a result, even with all of her problems, Mrs. Clinton could wind up with the best showing of any Democratic presidential candidate since Lyndon B. Johnson trounced Barry Goldwater in 1964.

Consider that in the post-World War II era, only three Democratic candidates for president managed to gain at least 50% of the vote – Barack Obama did it in 2008 at 52.9% and in 2012 at 51%, Jimmy Carter in 1976 at 50.1%, and LBJ in 1964 at 61.1 percent. The other victorious Democrats failed to hit 50% -- Truman in 1948 at 49.6%, Kennedy in 1960 at 49.7%, and Bill Clinton in 1992 at 43% and in 1996 at 49.2%.

It is bizarre, yet at the same time, given Trump’s negatives, not difficult to envision Hillary Clinton topping 55% of the vote, especially given the very real possibility that many conservative Republican voters could simply stay home and not vote. And the negative fallout for the GOP would then be felt down the line in terms of lost U.S. Senate, state and local races.

It pays to recall that there was at least a purpose to Goldwater’s big loss in 1964. That is, it was the dawn of the conservative movement within the GOP, and it eventually led to Ronald Reagan becoming president. In that sense, Goldwater’s loss ultimately was a party building positive for Republicans. Donald Trump is the exact opposite, that is, he is an unprincipled, populist force that promises to undermine the GOP, with a good chance of sending the Republicans into a political wilderness.

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Mr. Keating is an economist and novelist who writes on a wide range of topics. His Pastor Stephen Grant novels have received considerable acclaim, including The River: A Pastor Stephen Grant Novel being a finalist for KFUO radio’s Book of the Year 2014, and Murderer’s Row: A Pastor Stephen Grant Novel winning for Book of the Year 2015.

The Pastor Stephen Grant Novels are available at Amazon…



Friday, March 4, 2016

Election Depression: Why Does This Election Get Me So Down?

by Ray Keating

I’ve voted in and written about some ugly presidential elections over the years, but this one, at least so far, has really got me down.

But why? After all, there was the grim 1992 election, after President George H.W. Bush, a Republican, broke his campaign pledge and signed a huge tax increase. Four years later, Bob Dole at the top of the GOP ticket was anything but inspiring, to be generous. And then there was the 2008 election when people chose to ignore what Barack Obama actually proposed, in favor of seeing whatever they wanted in the man. Then there was Mitt Romney, who specialized in flip-flopping on issues and as governor of Massachusetts provided the forerunner to ObamaCare, as the Republican candidate in 2012 against the incumbent Obama.

Geez, that’s a lot to be down about, and don’t get me started on elections in my left-wing home state of New York.

For good measure, I am not one of those good government dreamers, either. My expectations in terms of politics and government are low, based on history, my own experience, as well as my understanding of economics. And hence, I favor limited government.

Nonetheless, the 2016 presidential contest has managed to push me into an election depression.

A big part of this is Donald Trump, of course. In the year when Republicans looked like they would have an impressive slate of candidates to battle it out, with a conservative emerging to beat Hillary Clinton and undo some of the enormous damage inflicted by Mr. Obama, the GOP frontrunner is quite different. Trump has flip-flopped on so many issues – including abortion, taxes, and gun control – that he makes Romney look principled, particularly given the Donald’s donations to a wide range of political Lefties over the years, including Hillary Clinton.

But there’s even greater and deeply troubling ugliness this year, with much of it, again, emerging from or gaining ground due to Trump.

First, there is a populism trying to disguise itself as conservatism. Many voters – along with a few “conservative” radio hosts – apparently are making choices this year based on unthinking fear and anger, and that provides fertile ground for populism, where the establishment, elites, Wall Street, banks, immigrants and international trade, for example, are ginned up as enemies. Never mind what President Obama actually has done. While true conservatism understands process of economic growth, populists see the economy as a zero-sum game, whereby if one person or group gains then someone else must lose. But in a free enterprise system, innovation, hard work, entrepreneurship, competition, and investment in service of consumers drive economic, income, and job growth forward. Populism dangerously ignores how the economy actually works, and gives birth to a wide range of other ills.

Second, protectionism is on the march, supported by both Democrats in the race – Hillary Clinton and Bernie Sanders – along with GOP frontrunner Trump. Free trade expands opportunities for U.S. entrepreneurs, businesses and workers by removing governmental costs and barriers to doing business across borders. Nonetheless, Trump, Clinton and Sanders spout off support for protectionism, that is, increased tariffs and other restrictions on trade. Unfortunately, increasing costs and raising the likelihood of trade wars never end well for U.S. businesses and workers, as the Great Depression, which was kicked off by a trade war resulting from the U.S. Smoot-Hawley Tariff Act, made clear.

Third, along with protectionism, a harsh anti-immigration strain has grown out of a lurking nativism and xenophobia. So, we have two Republican candidates – Trump and Ted Cruz – pledging to drag the 11-12 million illegal immigrants out of the nation, apparently failing to consider or ignoring the grim aspects of this, from creating a massive federal police force to the ills created for the economy to the human rights violations. At the same time, nothing is done to fix immigration laws that obviously fail to deal with economic reality and come up short from a national security perspective.

Fourth, socialism is openly and proudly endorsed by one of the Democratic candidates. Of course, Bernie Sanders is a longtime, bewildered, misguided socialist. The problem is how many voters – including younger people – have signed on to Bernie’s socialism, either understanding or not understanding that socialism means having government owning the means of production and thereby running the economy, and depriving individuals of freedom and prosperity.

Fifth, the economic, national security and social issue Leftism advanced by President Obama has gained considerable traction in America at large, and is represented by Hillary Clinton’s campaign. But even given the failure of the Obama years, if Republicans nominate Trump, Mrs. Clinton must be viewed as the favorite to win in November, thereby solidifying and expanding what Obama has wrought. That leaves one wondering if America truly is a center-right nation any longer.

Sixth, serious questions loom about Trump and racism, for example, given his reluctance to condemn David Duke and the KKK, as well as his heated anti-Mexican rhetoric on the immigration issue. This should be abhorrent to any conservative, and yet, there are assorted conservatives who have held their fire on dismissing Trump (or even embraced him), and of course, there are the votes that Trump continues to garner in primaries.

I have to chuckle when some conservatives and Republicans argue that in the case of Trump becoming the Republican nominee, it’s still okay as the election will be about issues, and Clinton fails on the issues. Unfortunately, Obama has made clear that an unabashed, radical Lefty can become president of the United States. And Clinton and the Democrats will make sure that any race involving Donald Trump will be about Donald Trump. Indeed, Trump will ensure that this is not a race about issues, and therefore, will ensure that the policies of Obama will persist and be expanded under President Hillary Clinton.

Populism, protectionism, nativism, socialism, and Trumpism – that’s why this election has got me down … at least so far.

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Mr. Keating is an economist and novelist who writes on a wide range of topics. His Pastor Stephen Grant novels have received considerable acclaim, including The River: A Pastor Stephen Grant Novel being a finalist for KFUO radio’s Book of the Year 2014, and Murderer’s Row: A Pastor Stephen Grant Novel winning for Book of the Year 2015.

The Pastor Stephen Grant Novels are available at Amazon…