May 11, 2020--The Sardine Economy

Every weekday afternoon at 4:00 when the stock market closes, Rona and I look at each other and shrug.

How could it be that millions lost their jobs while the stock market, which is supposed to be the barometer of the economy, went up 300 points?

"Your father had it right," Rona would say, "The economy, the stock market at least, is all about sardines"

"Sardines?"

"You remember his old joke, don't you?"

"About sardines?"

"Yes, sardines."

"I forgot," I confessed. "His jokes, few as they were, were not that funny. But remind me. And you said, it helps explain the economy?" 

Rona nodded. 

"This I need to hear."

"It goes like this"--


All Trescot  calls his friend John Allan and says, “John, do I have a deal for you. I have a warehouse filled with thousands of tins of sardines. Since you’re my friend, I’ll let you have them for only $10,000.”

John agrees to buy them and two weeks later calls his friend Deb Plamondon. He says, “Deb, do I have a deal for you. I have a warehouse filled with cans of sardines and since you're my friend, they're yours for just $15,000.”

Deb buys them and soon after that calls her friend Steve Zwerling (Rona winks at me). Deb says to him, “Since you're my good friend, I have a wonderful deal for you--50 shipping containers filled with tins of sardines which I can let you have for only $25,000.”

Steve sends her a check and a month later goes to the warehouse to check on his sardines. While there, he decides to taste them. He opens a tin and discovers that the sardines have spoiled. So he tries another can. Same result. He thinks maybe these are a bad batch and so he tries sardines from three other containers. All are spoiled.

Upset, Steve calls Deb, who he bought them from and says, “I just learned that all the sardines you sold me are rotten. What’s going on?”

She says to him, “What did you expect? These are not eating sardines; they're buying and selling sardines.”

Chuckling, to Rona I said, "You're right, my father's right we're living in a sardine economy."

August 30, 2019--Trump's Second Thoughts

If I believed he had first thoughts I might feel a bit optimistic that Trump is having second thoughts about his ill-begotten China tariff policy which, if implemented, would drag the global economy down to the same level England will shortly experience after they Brexit.

For weeks Trump has been in full Twitter as he excoriated China and its leaders and how they dishonestly manage their economy. All to our disadvantage, Trump has been fulminating.

But then last Friday when the Dow Jones Average shed 700 points Trump hit the panic button. He has been using the Dow as his personal barometer of how well the economy has been doing on his watch. 

Not so good the bears were now saying. Talk of inflation was also in the air. Not the kind of economic news any president wants to run on when seeking reelection.

And so he had second thoughts. 

When asked about the tariffs during the G-7 meeting in France he said that sure he is having second thoughts. He has them all the time about everything. And "that's a good thing." 

It is easier, of course, to have multiple thoughts about everything if you don't believe in anything other than your own wellbeing. 

But as with so much, it depends on the second thoughts. To rethink engaging in a ruinous trade war, having real second thoughts is a good thing. With emphasis on "real." 

What is in fact underway with China is not anything resembling normal negotiations or diplomacy but rather a play on Trump's part to enhance his domestic political standing. Period.

Here's how it is working with the tariffs but it equally applies to how he approaches background checks or immigration. Actually, with Trump how it applies to everything.

He's a master of having it both ways, or even more than both ways. In his case, this is easy to get away with since his supporters (a shrinking pool polls are now showing) are low-information voters (I'm trying to be kind) and as such are not as concerned as evidence-based voters when it comes to flip-flops and contradictions and facts.

For Trump's people he is incapable of flip-flopping or acting inconsistently. Wherever he says, whatever he does is by definition true and consistent. If it comes from him, truth is not the issue. Though in a perverse way it is because, ex cathedra, whatever he says or does is or becomes the truth.

Then there are direct political advantages for him to having multiple thoughts about the same thing--it gives his believers (and  I consider them believers) more to embrace, more to accept, more rituals and incantations by which to be guided.

So, when it comes to tariffs some of his supporters can be for them while others can oppose them, all the while both being for HIM. Which after all is the point.

August 27, 2019--Go For It Donald!

When after the El Paso mass murders I heard that Trump was considering support for stricter background checks for people purchasing guns, I was pleased. 

When because the stock market was falling Trump was getting increasingly concerned about how this would effect his claim that his economic policies were working, especially the tariffs on Chinese imports, but now he was having "second thoughts" about his policies, regardless of his political motivation, I was happy.

When Trump also appeared to have second thoughts about "ordering" American companies to withdraw from China, I again was happy. 

But then when I caught myself hoping he would at last begin to act as something like a "normal" president, I had second thoughts of my own.

I too have been party to the patriotic sentiment that though I didn't vote for him, though I disagree with and often am outraged by his policies and behavior, still, as a responsible American, I have wanted him to succeed. 

For the sake of the country I have wanted whomever is our president to do well. To strengthen the economy, to maintain the peace, to enhance our alliances, to improve our social safety net, to reduce unemployment and the deficit.

In Trump's case, if I am honest, I want to see him fail. 

On his watch, until after the 2020 election I want unemployment to worsen, the stock market to continue to weaken, the debt to grow, our global alliances to be strained, international tension to build, and the Trump Supreme Court and the federal judiciary to hand down regressive, unpopular decisions.

In other words, I want to see things continue to worsen so that the political climate between now and the presidential election is so fractured and roiled that huge majorities in the right states are motivated to vote for whoever emerges as Trump's opponent.

I understand that this may sound nihilistic and will cause pain, but the real nihilist is an out-of-control Trump and as such he is responsible for spreading pain in America and much of the rest of the world.

Then when he leaves office I will resume hoping all our presidents succeed. Or at least I will pretend to.

August 1, 2014--Best of Behind: Midcoast--Cutting Back

This is from September 17, 2010. I thought about it because we are entering eggplant season here on the midcoast of Maine. 

“See what’s going on over there?” We were at Rose’s Farm Stand up near Thomaston and she was pointing at something across the road.

“I’m not following where you’re pointing,” I said, squinting into the sun. It was a perfect end-of-summer day. The air recently washed by a quick shower which produced such clarity that I wished I could paint or draw. It was not surprising why so many artists have been attracted to the coast of Maine.

“That tree,” Rose said still pointing, “The big maple. Look how wide around it is. I wouldn’t be surprised if it’s 200 years old.”

“Really?” Rona said. “I had no idea they got that old.”

“And then some,” Rose said.

“But I still don’t see what you’re getting at,” I said. And with that a massive limb came thundering to the ground.

“That’s what,” Rose said with a snarl.

“What’s going on over there?” Rona asked.

“That’s what I’m getting at,” Rose said. “That old bitch—forgive my French--who bought that house right next to it is having it cut down.”

“For what reason? It looks healthy enough to me.”

“See that field over there?” She pointed then at a plot of land adjacent to the house. “Well, there were three other big trees there. Must have been 150 years old, the two of them.”

“I don’t see any trees over there,” I said.

“My point exactly. There were two there and she had 'em cut down. Now she’s got a big old lawn but no trees. Must be doin' the same thing with the maple. ’For you know it, there won’t be any trees left ‘round here. Or anywhere for that matter.”

“I hope you’re wrong,” Rona said. “That would be very sad. It’s so beautiful here and the trees are a big part of that.”

“Well, if the storms don’t git ‘em people like her will. I don’t know what’s wrong with ‘em. And I know what you’re thinkin’, that the owner over there is new to the area and she wants to ‘improve’ things. Which is not the case. Her family’s been here for as long as that tree. And when I talk about people new to the area present company is excluded. I know you two well enough by this time to suspect that’d you’d never do a thing like that. Quite the opposite. I’ll bet by now you’ve joined every conservation group in the state.” She broke into a broad grin.

“Not exactly all,” Rona said, "but by this time next year you may be right.”

“Nothin’ wrong with that,” Rose said. “In fact, my Lewis and me, if we had the means, would do the very same thing.” 

I nodded. We had come to buy some eggplant and onions right out of her field for a vegetable lasagna we were planning for dinner. Rose’s eggplants are the best I’ve ever had.

“Speaking about ‘means,’” Rose said, “Guess how much she is payin’ to have that done. Removing the maple, I mean.” She paused for a beat then quickly continued, “You’ll never guess but I hear at least twenty-two hundred.”

“Wow,” Rona said, “But it is a big tree.”

“Which is my point—a tree like that deserves to live. If anything, she’s the one who should be removed!” She doubled over with laughter, coughing up cigarette smoke. “Gotta stop these before they kill me.” That made her laugh and cough even harder and I was concerned that she might pass out from choking and lack of oxygen.

“On the other hand,” Rose resumed after catching her breath, “I s’pose work is work and twenty-two hundred isn’t to be sneezed at.” With that, again from the smoke, she sneezed three quick times. “Not that that justifies what she’s doin’, but those tree guys can sure use the work and the money.” She paused, “And frankly so can we.” 

Rona was nodding compassionately. “My Lewis, he works construction. He’s an electrician and there’s not much these day for him to do. He’s lucky enough to be finishing a job now on a new house but his boss says there’s nothing waitin’ in the pipeline. So we’re strugglin’. Lot’s of folks can’t pay their taxes. Tomorrow’s tax day here. Real estate taxes are due then.”

I began to interrupt and Rona poked me as she knew I was going to say that we had paid ours early at Town Hall last week. To avoid the lines. I appreciated the poke as it for sure was what I awkwardly was about to say could rightly have been seen as insensitive. We are very fortunate indeed to feel as financially secure as we do.

“Like I was sayin’, lot’s of people, Lewis and me included, are having trouble keeping up with our payments. I know it’s going on all over but it doesn’t make it feel any better here. We’re thankful to have folks like you around who can afford to pay a premium for our corn and tomatoes. And of course our eggplants.” She winked at me.

“Well we . . .” I stammered.

“No need to be getting all guilty on my behalf,” Rose said reassuringly, “I meant that as a genuine thanks. I don’t know what we’d do if we didn’t have this.” Her gesture took in the entire little shop where she sold her remarkable veggies. “Probably have to live in our van.”

“I hope . . .” Rona this time stammered.

“I’m bein’ lit’ral with you. Things are that bad.” We both lowered our heads slightly and broke off eye contact. In spite of Rose’s dispensation we were feeling guilty about our relative secure situation.

“We’ve had to do a lot of cuttin’ back. As we sensed things getting’ bad, more than a year ago, we began to pull back. At first we had enough extra cash to do a few fun things. Like come home from work Fridays and get all spiffed up and go out for a nice dinner. But we cut that out more than a year ago.”

“That sounds . . .” I said without looking up.

“. . . about right,” Rose put a finish on my interrupted sentence. “That’s what we did and I’m sure glad we did. ‘Cause now we’d have no choice but to cut back on even more things. You know we both work hard—two, three jobs if we can fine ‘em.” We both raised our heads at the same time and took to nodding at Rose with as much respect and understanding as we could generate.

“Why not more than six months ago when money became even more scarce, we stopped eatin’ breakfast out on Sundays. We really enjoyed that but had no choice. It was either that or maybe lose the house. We’re playin' things that close to the margins.”

“That sounds . . . well, I mean, what you and Lewis are doing . . . if there is no choice, I mean . . .” Again I could not complete a coherent sentence.

“I ‘preciate what you’re sayin’. I know you folks are doing as well as can be expected in these times. I don’t have any bad feelings about that. I really don’t. You’d be the first to know if I did! I know you worked hard and all that. And you deserve what you got.”

“Thanks but we . . .” Rona was no better at finishing her thoughts than I.

“Look, we have to keep on goin'. In life I mean. With whatever it is that we have or don’t have. It’s not about that, I’m sure you’ll agree. The most important thing we have is life itself and we have to make the most of it, whatever else we’re lucky enough to have or what gets dealt us.”

“We try to think that way and live accordingly,” Rona said. I was still struggling with the image of Rose and Lewis having to live in their van.

“So maybe after all that bitch is doin' her part to make things work. Don’t get me wrong, what’s she’s doin' to her trees is a crime. Or at least it should be. But maybe if she is spendin' as much as I think on the job, and what with those other trees I told you about, well she is doing some good in the process.”

“Do you really . . ?”

“I’m trying to put the best spin on what’s happenin’ over there.” The chain saws had resumed their high-pitched whine and more huge limbs were plummeting to the ground. The massive tree was by then a forlorn shadow of its former majestic self, more like a tree for hanging people than shading them. 

“As a result maybe at least one less family will have to live in their car.” She sighed and we were left to contemplate our own fortunate reality and to figure out what to make of the larger picture she had sketched.

“So what can I do for you today?” Rose was again her old chipper self. “Did I hear vegetable lasagna? I love that. You want a couple of my eggplants? I could have misheard you what with them damn chainsaws and all.”