Udo Keppler, 1901 Puck Magazine
As I listen to all the talk about the Wall that Donald Trump wants to build, I can't help but think about the Wall he is really building up. For clear and honest analysis of what’s going on in our crazy political climate today, I like to watch the television show Hooray for Wall Street! Here’s a transcript of the opening segment of a recent edition:
VOICEOVER ANNOUNCER: It’s time for Hooray for Wall Street! Here’s your host, Richard Dinero.
DINERO: Good evening, America. I’m Rich Dinero and welcome to this week’s edition of Hooray for Wall Street! Well, it certainly was another banner week on Wall Street. Stock prices soared and investor enthusiasm is reaching new heights as confidence grows that policies put forth by the Trump administration and the Republican majority in Congress really will transform the American economy. Here to explain it all is the senior partner with the investment firm of Steele & Robb, Alfonso McGreedy. Thank you for joining us, Alfonso.
MCGREEDY: Thanks for having me on, Rich.
DINERO: So Alfonso, why all the giddiness about the direction the economy is taking?
MCGREEDY: Well, you know, Rich, when Trump was elected, there was all this talk about worsening income inequality and how the gap between rich and poor was going to grow even wider. But we on Wall Street didn’t get too excited because we’ve heard those promises before. As the saying goes, “The proof is in the pudding.” But lately there have been some encouraging signals coming out of Washington that bring us confidence that this administration really does have a vision of America that puts Wall Street first.
DINERO: What sort of signals?
MCGREEDY: For example, a recent report estimated that the Obamacare replacement plan being pushed by Trump and the Republicans would cut Medicaid spending on children by $43 billion over the next decade. That’s really good news!
DINERO: Why is that good news?
MCGREEDY: It’s simple arithmetic. The less money there is for children on Medicaid, the more money there is for us. And when you give rich people more money, that has a ripple effect. When rich people have more money, they throw bigger parties. And when rich people throw bigger parties, that stimulates certain sectors of the economy, namely, drug dealers and “escort services.”
DINERO: But the president and the Republicans are stealing money from all kinds of Americans—from working people, seniors, and disabled people. So what is it about stealing money from children on Medicaid that has you feeling so bullish?
MCGREEDY: The best way I can describe it, Rich, is that it’s like a gang initiation. If you want to be accepted into the gang, you have to do something that graphically demonstrates how low you are willing to go. By taking money from kids on Medicaid, this administration is showing it is perfectly willing to go lower than any administration before it. They’re showing us they really want to be one of us. It’s all very exciting to think about because if it’s kids on Medicaid today, who will it be tomorrow? The sky’s the limit!
DINERO: We certainly are living in historic times, aren’t we? Thank you for your keen insights, Alfonso. Hooray for Wall Street! will return after this message from our primary sponsor, the good people at Bob’s Blood Diamonds.