A chat with Paul Ryan

I was fortunate to participate in a telephone conference with Wisconsin Representative Paul Ryan yesterday. The call was to discuss the current stock market situation and McCain’s race in Wisconsin.

Ryan, who holds a degree in Economics, said, the market is in turmoil right now because, “the trajectory of policies are in doubt.” My interpretation? The market is worried Obama might be elected. (Ryan was much more politically correct!)

He advocated there is a big difference in Obama’s plan to increase taxes and spending, and McCain’s ideas to keep the tax cuts in play and put an end to pork. Healthcare, at 16% of our current economy, and energy which makes up 70% of the U.S. trade deficit, also demand attention.

Congress is set to adjourn next week without affirming an all-of-the-above energy policy, but it may also adjourn without reinstating the ban on drilling. He reminded us that the moratorium on off-shore drilling will expire at the end of this month. For more discussion on the recent House energy bill, read Lance Burri at Badger Blogger Alliance.

Markets and Money

I followed up on his statement regarding the markets. I concur that the economy can sometimes get one candidate elected over another, and there are several political scientists that have developed models predicting elections based on economic factors, but I was a little skeptical that a president actually had an effect on the market. I’ve always tended to believe that markets work mostly independent of politics.

There’s something different in play this year, Ryan suggested. While in general the market works independently, this time the Democratically controlled Congress has left so much undecided, there’s a strong sense the choice of a president will matter significantly in the next round of Congressional decision making. Policies could be reversed that have help hold our economy strong in the last few years.

(And yes, I think the fundamentals are actually more positive than negative. It’s only been a head fake by the media that has made it seem otherwise. Remember that’s my opinion and not one stated by Mr. Ryan.)

I’ve been advocating for a while that a good reason to keep a Republican in the Presidency is to balance the power.

Not content with one guy’s opinion (and let me say, Paul Ryan is a most articulate and impressive guy!) I looked to the DJIA chart for the last year. Sure enough, the Dow started it’s last ride down about the time Obama was wrapping up the Democratic nomination.

dow-since-obama.jpg

Ryan affirmed his statement to the Washington Post, “My instincts and gut tell me [the Federal Reserve Board] made the wrong move” in bailing out AIG. (For more, read The American Spectator.)

I hope to get to my own ideas out on the markets later today.

Wisconsin’s close race for President

Remember, those nationwide popular polls don’t measure the real race for president. The decision is made state by state because of our country’s electoral college. This year there are only a few states in play, and Wisconsin is one of them.

Ryan said that Wisconsin has lost the presidential race for the Republican candidate by only 1/2 of 1 percent in the last couple of races. “This ticket is much better poised to win Wisconsin,” he explained. “Palin has our accent and our values.”

I asked if there were plans to play Palin’s strengths to the West of Wisconsin. Ryan said absolutely. While he didn’t have details, a bus tour is planned.

You can read more about Western Wisconsin’s importance to the state voting McCain in this article I found from The Next Right.

Comments

  1. Ryan seems to have developed a sense of humor.

    The Fed has taken over Fan/Fred and AIG. Housing starts are down. Unemployment is up. President Rain Man seems to have hunkered down to ride the snot-storm out and saddle the next Pres and our grandchildren with the poisoned fruits of his vain labors.

    And yet Ryan can stand there with a straight face and say, “the market is in turmoil right now because, “the trajectory of policies are in doubt.””

    He’s such a card. Did he mention what would have happened to all those privatized retirement accounts he was touting now that the market has dropped 25% in a year? Did he have any advice for retirees beyond, “Suck it, Fools?”

  2. Why the despair, Grumps? The market hit a high, properly corrected, and then tanked because your guy was nominated.

    And the market is down 18% Mr. Doom and Gloom, not that facts matter to you or anything.

  3. grumps security is in government printing presses.

  4. Why the despair, you ask?

    President Rain Man has taken the surplusses left by Clinton and turned them into record deficits. He continues to spend my granddaughter’s 401k. Wall St is in shambles. The world markets are treating the US like a leper except for the Chinese who hold the paper on our future and you’d like us to act as if this was all part of the plan?

    Fantasies, Cindy. Ryan is selling stories about the Big Rock Candy Mountain and some of you are still buying. Talk about ignoring the facts. Yikes!

  5. Jeff in Brookfield says:

    Reading this article with the benefit of hindsight, it would appear the Cindy Kilkenny is perhaps the most jaw-droppingly ignorant of the wanna-be conservative bloggers. Her assertion that the market downturn is a “head fake by the media” is beyond the merely idiotic.

  6. Funny stuff considering this is how you found the blog:

    google.com/search?hl=en&q=paul ryan wisconsin representative

    Venture a guess as to your motive, sir? (Like I’ve mentioned before, dare to publicly disagree with a conservative standing in line for his closeup and you’re blacklisted forever. And I LIKE Paul Ryan! It’s that one article that was weak.)

Trackbacks

  1. […] Cindy Kilkenny, blogging at Fairly Conservative, took part in a conference call with Wisconsin Representative Paul Ryan. […]