Kansas City Playlist: Campaign 2024 Recession Starts

Tonight we remember a not-so-long-ago time when there was more than one source for local biz news coverage in Kansas City and not just a bunch of hype websites, spam social media and some decent paywall'd coverage from a national chain.

Nevertheless . . .

Because local news doesn't report this stuff . . . It's important for locals to know that we're entering a recession that comes at the worst time for the "historic" election hopes of Veep Kamala Harris.

First, just a touch of economic data . . .

"The report on Friday indicates that the job market is cooling faster than previously known, rekindling fears of a recession, some analysts said.

"The unemployment rate has soared this year from 3.7% to 4.3%. That trend has triggered a recession indicator known as the “Sahm Rule,” which says that a rise of 0.5 percentage points in the unemployment rate within a 12-month period typically precedes a recession."

For those who want to take a deep dive into this bad news, we're sharing some of our reading via www.TonysKansasCity.com links . . .

New jobs numbers raise alarm bells on recession risk

The big kahuna of economic data confirms something is going wrong in the mighty U.S. economy.

Disappointing jobs report fuels recession worries and calls for interest rate cut

The U.S. added 114,000 jobs in July and the unemployment rate rose to 4.3%.

2 recession indicators with perfect track records show the US just entered a downturn - opening the door for stocks to plummet as the Fed gets set to cut rates

Is the US economy now in recession? These 2 indicators say so.

Economic 'Black Swan' recession on the horizon amid upcoming presidential election

Could an economic "Black Swan" of a recession upend the November election?

Stocks drop, Nasdaq confirms correction as recession fears mount

U.S. stocks sold off for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession.

And all of this inspires a simple truism . . .

Recessions NEVER favor the incumbent in a presidential election. 

Consider . . .

Even famous Democratic Party strategist James Carville warned pundits & politics that people vote with their wallet when he famously proclaimed: 

"It's the economy, stupid"

Accordingly . . .

More than anything else . . . And despite all of the culture war garbage . . . Every election is really nothing more than people voting to express their financial interests. 

And so we're not going to break down macroeconomic data but merely encourage Kansas City denizens to look around and ask if their economic situation elicits confidence in continuing the current administration. 

And so . . .

Tonight's TKC playlist is dedicated to money matters that weigh far more on politics than so many culture warriors from either side would like to admit.

Cyndi Lauper's recording of "Money Changes Everything" was released as the fifth US single from her album She's So Unusual. The original single was released in 1978 by the Brains as a 45 rpm single on Gray Matter Records . . . The initial underground success of the song led to the Brains being signed by Mercury Records . . . However, Lauper's version earned far more critical praise and music chart recognition.

Let's go hard into nostalgia tonight with this track from The Barenaked Ladies -- "If I Had $1000000" is one of the earliest-composed Barenaked Ladies songs. It was first conceived as a simple improvised song while Steven Page and Ed Robertson were counsellors at a summer music camp. On the way home from camp, Robertson played the tune for the campers, randomly listing amusing things he would buy with a million dollars.

A nearly 20-year-old track from 2005 . . . ‘Got Your Money’ by Ol’ Dirty Bastard featuring Kelis is a surprisngly worthwhile track that -- An apt description: "This ’90s hip hop classic is about, well, being a pimp. ODB’s matter-of-fact lyrics get grittier the closer you listen to them, but Kelis’s playful vocal hook adds a hint of levity." Double bonus, the video also revels in nostalgia with a visual tribute to Dolemite and his 70s-era blaxplotation movies.

A country classic fits nicely here . . . "Busted" is a song written by Harlan Howard in 1962. It was recorded by Johnny Cash (with the Carter Family) for Cash's 1963 album Blood, Sweat and Tears.

Finally, one of our all-time faves from musical legend Alberta Hunter who offers a bit of sage advice . . . "Nobody Knows You When You're Down and Out" is "a blues standard written by pianist Jimmie Cox in 1923 and originally performed in a Vaudeville-blues style. The lyrics in the popular 1929 recording by Bessie Smith are told from the point of view of somebody who was once wealthy during the Prohibition era and reflect on the fleeting nature of material wealth and the friendships that come and go with it. Since her 1929 recording, the song has been interpreted by numerous musicians in a variety of styles."

As always thanks for reading this week and have a safe & fun Saturday night.