Live from Music Row Friday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – guest host Aaron Gulbransen welcomed original all-star panelist Crom Carmichael to the studio for another edition of Crom’s Crommentary.
CROM CARMICHAEL:
There were three articles I read that I thought were interesting in how they might interconnect with the way we are living these days. One is a column by Jason Gay. It is titled: Why Did the Umpire Quit Little League? Nasty Parents. This is in New Jersey, where the average umpire in New Jersey Little League lasts three years, and they quit because they get so sick and tired of the parents screaming at them.
And so the head of the little league got exasperated and put out a ruling that says that if an umpire deems that you are being too noisy and too confrontational in the sole opinion of the umpire, that the umpire can throw you out for the season. And if you want to come back the next season, you have to go to umpire school, and you have to become a little league umpire.
That stopped the problems. It stopped them cold, and people became civil. And what was interesting about the article is it says that the umpires would say that 99 percent of the parents are completely wonderful. It’s the one percent that creates all the problems for their society. Let’s call Little League a society.
And so you have, so it’s the one percent. Now then, you get over here to another column that had nothing to do with little league, but it’s why First Republic Bank collapsed. First Republic Bank was a 37-year-old bank. It had been enormously successful but collapsed in a matter of months.
And the reason it collapsed was it catered to the super-rich and gave them super-low interest-rate loans in exchange for their deposits. The problem was that the loans were made for 30 years and the deposits were demand deposits. So when interest rates went up, the wealthy took their deposits out of the bank. Now the bank is stuck with a bunch of interest loan mortgages at one to two percent.
Now the principal n the mortgages was never in question. But the one percent is what created the debacle. That’s true at Silicon Valley Bank, First Republic, and Signature Bank. It’s all across the country and other banks are suffering because of that. We’ll wash that through the system.
The irony is that you have members of Congress who are yelling and screaming about these banks being poorly managed when they are the ones that are pushing up the federal debt to ridiculous levels and causing interest rates causing the Fed to necessarily raise interest rates to tamp down the inflation that the people in Congress are actually causing.
This gets me to my very next article, which all ties in here. This article by Daniel Henninger says the Democrats have become the no party. So here you have Kevin McCarthy and the Republicans, who have passed a very responsible increase in the debt ceiling coupled with spending cuts.
Because spending cuts are absolutely essential to rebuilding our economy in a non-inflationary growth way, and the Democrats are saying they won’t cut a penny of spending. Let’s remember now. It only took them six months of this fiscal year to pass the $1 trillion mark in deficit spending for just one year.
So they’re on track to have another $2 trillion deficit year. And once again, this gets back to the way the Democrats are the party of no on the debt. And it is, once again, a really small group of people in the Democrat Party who are controlling the Democrat Party. This is the one percent, the elites in the Democrat Party, that had their hand out.
They’re making millions and billions of dollars and, in some cases, off of this massive amount of federal spending. And so that’s the battle. It’s the 99 percent against the one percent, and it’s true whether it’s in banking, whether it’s in little league, or whether it’s in Washington D.C. And so that’s the battle that we’re fighting. And I’m pleased to say that I’m in the 99 percent group in all three of those cases.
Listen to today’s show highlights, including this Crommentary:
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Tune in weekdays from 5:00 – 8:00 a.m. to The Tennessee Star Report with Michael Patrick Leahy on Talk Radio 98.3 FM WLAC 1510. Listen online at iHeart Radio.
Photo “U.S. Capitol” by Ramaz Bluashvili.
