Flag Day 2023
Along with Veteran’s Day and Memorial Day, Flag Day symbolizes America. As children we pledged allegiance to the flag. We studied the history of Betsy Ross and what compelled Francis Scott Key to write “The Star Spangled Banner”. We learned about the flag, about it’s symbolism and it’s importance in US history. What we learned over the years solidified our belief in the flag and it’s importance.
Men and women have died for that flag and as long as their are Baby Boomers and Gen X people around, they will never be forgotten.
I make the distinction simply because we still believe in the American flag and it’s place in this country. I can argue that many in the following generations have no clue or could care less and I blame two factors for this lack of respect. Our generation and the education system in this country.
The blame has to fall squarely on our shoulders first. We were the first line of education in our kids lives. Passing respect along was part of our job and if our kids failed to have that same respect, it’s on us.
The educational system in this country has fallen off a cliff as far as I am concerned and there really is no going back on that. They fail to teach any sort of civics in classrooms nowadays. There is no “Pledge of Allegiance”. The bigger concerns today are protecting the smallest portions of society and bending over backwards to make that minority have more power than the majority.
How can children understand Democracy when the core tenant of Democracy (Majority rules) is tossed aside to protect the fragile feelings of the minority.
Before the Liberals want to dance on my grave, I believe that any minority group should be properly represented in any dialogue that has impact on them. The key words are “Properly Represented”. That is Democracy.
Again I digress. The point I am trying to make is simple: Today is Flag Day. Today we celebrate the American Flag and all it represents. It’s symbolism should not be forgotten.
It’s also Fed Day as well. Those patriotic sons of guns at the Federal Reserve will climb down off their mountain and bestow upon us a very important decision. Their leader, Jerome Powell, will go on about current economic conditions and what not and then let us have it. It’s a 50/50 shot as far as raising rates are concerned and as I explained in yesterday’s column, I think the Fed has done enough. It’s time for natural economic forces to take over.
Since the Fed is a non-partison group there should be zero political pressure. They make the decisions based purely on data. Ok, if that were true, riddle me this Batman, why is it that the Fed rarely raises rates in a Presidential election year? Why is it more common to see the Fed lowering rates in a Presidential election year?
The point I am making is that, any more moves by the Fed will be done this year. Next year, some economists have said they think the Fed will start lowering rates to reinvigorate the economy based on the assumption that we will be dealing with a recession at some point later this year.
Here is where I can admit I was wrong about the economy. I did think we would be dealing with some sort of recession by this time but we haven’t. I kept pushing it off quarter by quarter and it just seems that this economy just won’t die. Without the impending recession, there will be no need for the Fed to act next year, holding to form during Presidential election years.
Confused? Here is what I think in a nutshell. The Fed will possibly raise rates one more time this year. They will take a wait and see attitude for the better part of next year, possibly lowering rates at some point. Any move by the Fed next year will be viewed through a political microscope rather than an economic one so they will tread very carefully.
All of this can change quickly and I suppose that is what makes following the markets and the economy fun. You just never know what you will wake up to each day. A wise person once told me that if you are right 54% of the time you will be rich. Not sure where he came up with that number but I haven’t found anything to dispel it.
Happy Flag Day!!