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The News on a Cold and Snowy Kansas Night

Kansas was cold and snowy on Tuesday, not to mention the ongoing official national state of emergency, so we hunkered down at home and read up on the latest news. None of it, alas, was the least bit warming.
We read all the way to the end of a very lengthy New York Times account of President Donald Trump’s long efforts to thwart the various investigations in his businesses and campaign and transition team and inaugural committee and administration, and found it all too believable. There’s bound to be something in such a long story that will eventually will require a correction, but the general gist of it, that Trump doesn’t like anybody asking questions he’d rather not answer, and is willing to resort to ruthless and arguably constitutional methods to stop it, by now seems undeniably true.
Over at The Washington Post there was a story that speculated Director of National Intelligence Dan Coats will be the next defenestrated administration official, and we hated to hear that. Coats was a longtime Senator from Indiana who served on the Senate’s intelligence committee, a former ambassador to Germany, and is widely considered one of the last of the wise old foreign policy hands who tried to restrain the Trump’s worst gut instincts. He’s joined with the rest of the intelligence community in publicly disagreeing with Trump’s dubious claims about North Korea and Iran and the Islamic State and the threat at America’s southern border, and Trump clearly does not like his advisors disagreeing with him, so the Post’s speculation seemed plausible enough.
None of which was quite so depressing as the damned weather, or a certain sense that there’s nothing to be done about any of it.
What the Trump critics call “obstruction of justice” the Trump apologists call “fighting back,” and even if that Times story had run as long as the history books that will eventually be written it wouldn’t have changed anybody’s mind. Trump fans don’t want answers to those pesky questions anymore than Trump does, and they also share the president’s preference for his set of facts about North Korea and Iran and the Islamic State and the threat at America’s southern border. Trump’s critics and more noisome administration officials seem to have more factual facts on their side, but lately that doesn’t seem to make much difference.
On the other hand the stock markets were slightly up, and local forecasts call for above-freezing highs temperatures in the coming days, and the sports pages had reports from baseball’s spring training. Spring always eventually arrives, and although that usually brings tornados and other severe weather to this part of our great country we’re always happy to see it.
The truth always eventually arrives, too, and we expect that despite the best efforts of Trump and his apologists we will someday read the results of all those various pesky investigations in lengthy news stories and even longer history books. Our guess is it will be the equivalent of a Kansas tornado on the great plains of American history, but that’s what it takes to get the lazy hazy crazy days of summer around here, and there’s nothing we can do about that.

— Bud Norman

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Welcome to the Actual New Year

Today is the actual first day of the new year, no matter what the calendar says. Anyone who can takes the official if fake first of day January off from the time and space continuum, for darned good reason, and procrastinates at least until today what sooner or later needs to be done. Everyone’s back on the job of getting through another year starting today, unless you’re one of those federal employees temporarily furloughed by the latest partial government shutdown.
That’s just one of the dreary stories that civic-minded citizens will be obliged to read about in the coming days and weeks and months, although it will probably at least the next several 24-hour news cycles. President Donald Trump has vowed he won’t sign anything keeping the government fully funded that doesn’t pay billions for the big and beautiful wall running across the Mexican-American border that he promised his voters, the Democratic majority that’s to be installed in the House of Representatives tomorrow morning won’t be inclined to pass anything that includes any funding for even a small and ugly border barrier, and we expect a bad start to the new year for all those federal employees.
The stock markets reopen today, too, and we’ll not venture any guess about that how turns out. There are stock markets all over the crazy planet, each reacting to their own internal craziness as well as the craziness elsewhere, but on the other hand the American economy is still on a sluggish but upward trajectory and the unemployment rate is still low and the resulting interest rate increases are well within historic norms, but on yet another hand there are trade wars and all sorts of other populist uncertainties afoot. In any case, we’ll hope for the best and expect the worst.
Meanwhile, on the domestic political news front we civic-minded citizens are obliged to follow, there’s already enough pent-up news to fill a year. The special counsel’s investigation into the “Russia thing” surely will shortly start announcing more subpoenas and indictments and guilty pleas, the newly-installed Democratic majorities on all those House investigative committees will no doubt begin making their own trouble, and all the “fake news” will make hay of it. Along with the ongoing scandals about alleged trysts porn stars and Playboy playmates and all the resulting alleged campaign law violations, as well as the other scandals and hubbub-causing “tweets” that can be counted on, we expect this to be a busy year for for Trump’s apologists.
The rest of the world doesn’t offer much hope, either, with the Russian-Iranian-Syrian axis poised to take control of a big chunk of the Middle East, Trump-ian populist and protectionist and unabashedly nationalist movements gaining power around the globe, and the weenie sort of semi-socialistic parties resembling America’s current Democratic are faltering elsewhere. For now Trump is relying on an acting Secretary of Defense with no military experience, following the resignation of the four-star general who told the public that his four decades of immersion in foreign policy led him disagree with Trump’s gut instincts about America’s international alliances, and for now we’re inclined to worry that the four-general is right.
Even so, we’ll hope for the best and know for sure that things could be worse.
The temperatures didn’t top the low-30s today here in Kansas, by the time we dropped by Kirby’s Beer Store after sunset for a procrastinating swig before another damned year the wind chill was down in the teens, and oh how we hate this time of year. Except for a bearded and burly and very friendly bartender and a charmingly crabby old homosexual there was no one else to enjoy the cranked-up if ratchety old furnace, but we were soon joined by three rather short and squat and heavily-adorned but somehow attractive in a young hipster sort of way women and a young hipster man, who introduced themselves as the evening’s band, whose name we already forget. Hoping to show them the gracious hospitality one can expect at Kirby’s Beer Store and Wichita and Kanas in general, we asked where they were from, and they replied that they lived in North Dakota. In that case we didn’t feel obliged to apologize for the bad weather, as the wind chills are  in the minus-20s up there, and they all remarked about how balmy they found it down here.
Better to begin our new year here rather than in North Dakota, we suppose, and we certainly wouldn’t trade places with Trump.

— Bud Norman

On the Night After Christmas

Here’s hoping you all had a merry Christmas, or at least a merrier one that President Donald Trump seems to have had. For Trump, who was forced by public relations reasons to forestall a planned golfing vacation at his ritzy Mar-a-Lago resort in sunny south Florida, it wasn’t so much a Christmas as it was a “Festivus.”
Fans of the classic “Seinfeld” sit-com will recall that “Festivus” was a holiday the George Costanza character’s cranky father invented as an alternative to Christmas, and was devoted to the “airing of grievances” and “feats of strength.” Our cranky president spent most of Christmas Eve and Christmas airing a wide variety grievances via “Twitter” and a rare Christmas news conference, about everything from the damned Democrats to the special counsel investigation into the “Russia thing” to the alleged idiot that Trump appointed to chair the Federal Reserve, and trying his best to convince the public the he’s far stronger than any of them.
Although we try our best to ignore the news on Christmas Eve and Christmas, we read and watched enough that we were not convinced.
The third partial government shutdown of Trump’s first two years in office looks bad enough that Trump felt compelled to remain in frigid Washington rather than enjoy the sunny climes and opulent golf course at Mar-a-Lago, and the Democratic majority that’s soon to be installed in the House of Representatives has no apparent incentive to cave to the unpopular president’s demand for five billion dollars of funding for his unpopular campaign promise of a big and beautiful wall along the entirety of America’s border with Mexico. Partial government shutdowns are also unpopular, and although Trump is now blaming this one on the Democrats the “fake news” networks can gleefully replay the very real video of Trump recently bragging to the Democratic leaders in Congress that he’ll take all the credit for this one. Trump is already saying that he doesn’t need a wall across the entire Mexican border, and is talking about “steel slats” rather than the 30-foot-tall concrete and rebar structure he once envisions, and concedes that the Democrats can call it a mere fence if they want, and he’s pretty much given up on the campaign promise that Mexico will happily pay for it,
The former Federal Bureau of Investigation director and decorated Marine combat veteran in charge of the “Russia thing” probably isn’t much intimidated by Trump’s “tweets,” either, so we expect that will continue to vex Trump well into the next year. Trump’s remaining Republican allies in Congress are increasingly disinclined to protect Trump from that, too, and have increasingly little incentive to do so.
Our best guess is that the stock markets will continue their recent swoon when the reopen today, and that the Fed chairman Trump appointed and can’t fire without causing a political and economic crisis probably won’t be budged by any presidential “tweets.” The Fed has recently nudged the prime interest rate toward historical norms, but the markets are also spooked by the Trump trade wars that have raised the cost of a steel-slat border barrier by 25 percent, and the inevitable cyclical slowing of the global economy that won’t be helped if the central bank of the all-important American economy is perceived as acting in the short term political interests of an unpopular president, so once again Trump doesn’t seem to be negotiating or “tweeting” from a position of strength.
Starting today Trump will be dealing with all this with an acting Attorney General, an acting defense secretary, an acting secretary of the interior, an acting chief of staff who’s moonlighting on the job while running the Office of Management and Budget that’s overseeing the partial shutdown of the government, no ambassador to the the United Nations or South Korea at all, and an understaffed White House legal team responding to all the subpoenas that the “Russia thing” investigation and the incoming Democratic House majority will surely be serving in the coming weeks.. This isn’t likely to reassure the markets or Trump’s already skeptical international and domestic allies, but Trump’s die-hard fans can still reassure themselves that at least he fights.

— Bud Norman

On the Lull Before Christmas

According to longstanding American political tradition the final days of a lame duck Congress and the last few days before Christmas are supposed to be a slow news cycle, but in the age of President Donald Trump’s newfangled conservatism such longstanding American traditions have been jettisoned. Thursday brought news that Trump’s defense secretary has resigned in apparent protest of Trump’s derided-by-almost-everyone decision to withdraw a small but effective force from Syria and Afghanistan, Trump and his remaining allies in the temporary Republican House majority are threatening to force government shutdown over Trump’s derided-by-almost-everyone insistence on a big beautiful wall along the Mexican border, and largely as a result the stock markets had yet another dreadful day instead of the traditional “Santa Claus rally.”
The resignation of Defense Secretary and former four-star Marine general James Mattis struck us as the most worrisome development of the day. Despite the “Mad Dog” nickname that Trump seemed to love, Mattis was well regarded by both the center-left and center-right consensus that had successfully guided through the Cold War and has done about as well as can reasonably be expected with the resulting and relatively low-level wars against Islamist terrorism, and his departure leaves him pretty much without any of those wise old hands.
Flynn resigned from his post in record-setting time after being charged with felony perjury charges and making admission to administration that he’d lied about his contacts with Russian officials, and he’s currently awaiting sentencing from a judge who has openly wondered in court why he’s not being charged with treason given all the credible accusations of undisclosed shady dealings with the Turkish and Russian governments, despite the special counsel investigation into the whole “Russia thing” pleading he should get no jail time because of his cooperation, which also doesn’t look good for Trump. He was replaced by McMaster, who didn’t last much longer, reportedly because Trump was annoyed three-star general’s know-it-all attitude during the daily briefings. The post is now held by John Bolton, a President George W. Bush holdover from the late and lamented Republican establishment who’s a bit more aggressive about American internationalism that even our Reagan-esque tastes would prefer, but he’s also advised against Trump’s Syrian withdrawal and might be on the way out.
The four-star chief of staff Kelly has also been pushed aside, reportedly in part because he didn’t get along with Trump’s favorite daughter and son-in-law, and he will temporarily be replaced on a moonlighting basis by acting Office of Management and Budget Director Mick Mulvaney,  who will also be charged with deciding which agencies should be shut down in case of a partial government shutdown. Whatever advice Trump might be getting from the son-in-law in charge of everything from Middle East peace and the opioid crisis and re-inventing the federal government, and whatever  remains of the rest of his staff about domestic policy, the unpopular president has apparently committed to an unpopular partial government shutdown over Christmas to get a few billion in funding for his unpopular idea of a big beautiful wall along the entire Mexican border, and we don’t see that turning out well. In a few weeks the House of Representatives will install a significant Democratic majority with no political or ideological reason to fund Trump’s big beautiful border wall, much of the slight Republican majority in the Senate is already in revolt over Trump’s withdrawal from Syria and other foreign policy matters, political realities almost always prevail, and without any generals or wise old hands backing him up he seems in a weakened position.
The stock markets seem to agree, given their recent dour mood, and although Trump can plausibly partially blame that on the damned Federal Reserve Board chairman he did appoint the guy, and after what looks to be losing year on the exchanges, which can also be plausibly blamed on the yet-unwon trade wars Trump had declared on our erstwhile allies, but for now Trump  can no longer brag about delivering the best economy ever. No one’s currently predicting a recession, and we’re certainly hoping for one, but the best that all establishment forecasters are predicting is the same sort of slow but steady economic growth that has been the bipartisan norm over the decades. Perhaps Trump will eventually prove smarter than all those multi-starred  generals and economists and the newly-elected Democrats in the House of Representatives and all of us old-fashioned Republicans, as well as  the Syrian and Russian and Iranian dictators, but for now only the true believers who still shot up at the ongoing rallies  in those “Make America Great Again” ball caps seem to be betting on it.

— Bud Norman

Merry Christmas, President Trump

President Donald Trump is currently comfortably ensconced at his ritzy Mar-a-Lago resort inn balmy southern Florida, where his Secret Service protectors and most essential administration aides are charging their high-priced room and board to the federal budget, but he doesn’t seem in a holiday spirit.
Even in sunny southern Florida the special counsel investigation into the “Russia thing: keeps racking up indictments and convictions and guilty pleas, other federal jurisdictions are investigating other matters, and by the time the upcoming Democratic House majority is installed and begins its congressional investigations Trump’s businesses, presidential campaign, transition team, inaugural committee, and subsequent administration will all be under severe scrutiny, So far Trump’s hapless legal team has yet to come up with any explanation for any of it that doesn’t admit that Trump made arguably legal hush money payments to a porno performer and Playboy playmates and was doing some previously denied dealings with the Russian government during the past presidential campaign, but despite the best efforts of the right wing talk radio hosts and other Trump apologists it does not portend a Merry Christmas and Happy New Year for Trump or America.

Meanwhile the Stock Markets are tanking, for a panoply of reasons that are reasons that aren’t entirely the fault of either Trump and his stupid trade wars or the Federal Reserve Board chairman he appointed and now blames, and although we’re not predicting a recession we don’t think Trump will be able to brag about creating the best American economy ever for the foreseeable future. A lot of Trump’s minority of fans have been willing to overlook whatever this various various investigations might plausibly come up with so long as the their stock portfolios swelled, but Trump’s Republican party lost the last House elections by an astounding nine million votes, with women voters in general and the suburban vote in general abandoning him in droves, and anything less than the great economy of the history of America is even more worrisome than all those criminal investigations that Trump’s legal team can’t currently answer.

— Bud Norman

The Day After the Funeral

The stock markets and the special counsel investigation into the “Russia thing” and the rest of the news took a day off on Wednesday for the funeral of former President George H.W. Bush, but the pause offered little respite for current President Donald Trump.
In keeping with its classy ways the Bush family invited Trump to attend the state funeral at the National Cathedral, although they didn’t grant him the traditional eulogy that sitting presidents give for past presidents, and to his credit Trump was on his best behavior. He was clearly uncomfortable, though, sitting next to the former president he had falsely accused of being unqualified by virtue of a foreign birth, and the former president he had falsely accused of lying America into a war, and the former First Lady he has long vowed to lock up, as well another former president he has called the second-worst ever. Worse yet, Trump had to sit through several speakers praising Bush’s war heroism and expert statesmanship and gentlemanly demeanor and and genuine compassion for others and self-effacing sense of humor, and perhaps contemplate how even his most die-hard fans won’t be able to say the same at his own inevitable funeral.
Worst of all, Trump surely knew that the stock markets and the special counsel investigation and the rest of the news all resume today, and that it’s not likely to make him look good.
The rest of the world’s stock markets were open for business on Wednesday, and were just as panicked about Trump’s trade war with China as the American markets were on Tuesday, and today probably won’t bring that greatest-ever deal that Trump has promised with China. Trump might yet bully the all-powerful Chinese government and its formidable economy into submission, but for now the stock markets aren’t betting on it.
The mainstream media that used torment Bush for his mostly forgotten missteps spent most of Wednesday heaping praise on his war heroism and expert statesmanship and gentlemanly demeanor and everything else they suddenly miss about a bygone era of compassionate Republican conservatism, but they also found some time to speculate about some scary developments in the special counsel investigation of the “Russia thing.” Trump’s former campaign foreign policy advisor and short-lived administration national security advisor, the former three-starArmy Gen. Michael Flynn, has pleaded guilty to some serious felonies and stands credibly accused of several more, and on Tuesday it was revealed in open court that the special counsel is recommending no jail time partly because of the defendant’s long and distinguished military record but mostly because he’d been a genuinely repentant and very helpful witness in three ongoing criminal investigations. Special counsel Robert Mueller is a decorated Marine veteran of the Vietnam War himself and is no doubt taking Flynn’s undeniably distinguished pre-Trump career into account, but we doubt that Flynn would have gotten such a sweet deal without providing some pretty damning testimony along with documentation to back it up, so it will be interesting to see what Trump “tweets” about it today.
Trump is already “tweeting” some controversial “tweets” about his longtime lawyer and former campaign manager and a longtime pal with a very unsavory reputation dating back to the Nixon days, and his namesake son and favorite daughter and son-in-law are also caught up in “Russia thing” stories, and it’s getting harder for all but the most die-hard Trump fans to dismiss it all as “fake news.” The rest of the news, from the Korean peninsula to the soon-to-be-installed Democratic majority in the House of Representatives, is similarly foreboding. Trump might yet strike that artful deal that makes America great again, but for now both ourselves and the smart money aren’t betting on it.

— Bud Norman

Casualties of the Trade War

Trade wars are good and easy to win, according to one of President Donald Trump’s most famous “tweets,” but the smart money on Wall Street seems to disagree. The Dow Jones Industrial average plummeted a scary 799 points on Tuesday, the other major stock market indices dropped a similar 3-plus percent, and the clear cause was Trump’s apparently ongoing trade war with China.
After a dinner meeting with Chinese President Xi Jiping at the G-20 gathering Argentina on Saturday Trump announced that he’d won such majors concessions from China as huge agricultural buys from American farmers and eliminating any tariffs on American-made automobiles, and was therefore prepared to pause a trade war that has thus far proved disastrous for both countries, which led to big stock market gains on Monday. By Tuesday the Chinese were denying they’d made anything like the extraordinary concessions that Trump had bragged about, Trump’s economic policy advisors were walking most of it back, and Trump himself was “tweeting” that “President Xi and I both want this deal to happen, and it probably will. But if not remember, I am a Tariff Man.” A later “tweet” shouted that “We are either going to have a REAL DEAL with China, or no deal at all – at which point we will be charging major tariffs against Chinese product being shipped into the United States.” Despite the poor grammar, the “tweets” clearly communicated that the trade war continues, and won’t be easily won, so the smart money on Wall Street responded accordingly.
On our way home from an evening chore we heard one of the right-wing talk radio talkers say that Trump had nothing to do with the stock market drop, and he somehow blamed it on the Apple and Boeing companies instead, but Trump and his apologists always find someone else to blame. We’re more inclined to believe the smart money opinion of the JPMorgan financial juggernaut, which told its investors in a trading note that “It doesn’t seem that anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality.” We’re not impressed much by JPMorgan’s prose style, either, but it does clearly communicate the truth of the matter.
Trump’s apologists would do better to argue that China’s trade policies well deserve an aggressive response, as they do indeed charge unfair tariffs and make the theft of American intellectual property a condition of doing business with American companies and benefit from the slave wages paid to many of China’s workers, but it’s harder to argue that Trump is winning. As bad as China’s trading policies might be, Trump was claiming full credit for a booming stock market and rising commodity prices when he declared the trade wars with China and most of the rest of the industrialized world, so he can’t dodge blame for things going downhill ever since. Trump’s bad habit of doing his end zone dance before he reaches the goal line make him look the more ridiculous to the American public and on the world stage every time, and harder for him to make that great deal he’s always promising. China’s dictator Xi doesn’t doesn’t have to worry about public opinion, and although world opinion doesn’t favor him it does take him seriously, and China’s economy is either the biggest or second-biggest in the world, depending on how you figure it, and prematurely boasting about the concessions you won from him probably isn’t the best negotiating strategy with a wily Chinese leader and his traditional Chinese obsession with saving face.
The sort of low-key and culturally-sensitive and behind-the-scenes negotiations that might have yielded improved trade relations between China and a formidable American economy and steadfastly principled  and experienced American president aren’t Trump’s style, however, and for now we expect more tariffs and “tweets” and stock market downturns. In the long run Trump might yet get the greatest deal ever with his bull-in-a-china-shop approach, if you’ll forgive the culturally insensitive cliche, but on Tuesday the smart money wasn’t betting on it.

— Bud Norman

What Goes Down Must Come Up

After Wednesday’s brutal day on America’s major stock markets President Donald can no longer brag about their record highs, but if he wants to attempt a complicated and counter-intuitive argument he can claim some credit for the rosy economic conditions that have caused the recent swoon.
The markets tanked because the Federal Reserve Board now intends to slightly raise the artificially low interest rates that fueled the markets’ record run, which is because by now they’ve successfully brought the economy to below full employment and a potential 4 percent growth rate in the gross domestic product, and for now it’s more worried about an inflation rate that’s slightly outpacing the long-awaited wage increases that have lately occurred. According to the perverse logic of the stock markets, good news is bad news, just as back when high unemployment and low GDP growth were bringing interest rates down and raising the indices up bad news was good news.
All of this damnably good news started shortly after the big financial meltdown of ’08, which was caused by the subprime mortgage social engineering of President Bill Clinton’s administration but came to fruition in the final days of President George W. Bush’s administration. Bush and most of the Democrats and Republicans in Congress — including both both of the party’s presidential nominees — responded with a big bailout of some major banks that annoyed people on both the left and the right, and the Fed started printing money at a rate that alarmed any conservative old enough to remember the hyper-inflation of the ’70s. In retrospect, though, the center-left and center-right compromise seems to have more or less worked.
The economy was already officially out of recession by the time President Barack Obama was elected by a scared-to-death electorate and passed a pork-laden “stimulus package” through the overwhelming Democratic majorities in Congress, and after that a historically slow recovery slogged along on the easy money the Fed was printing. We’re still convinced that Obama’s anti-business regulatory and tax policies slowed the recovery, and that only the Fed’s foolhardy money-printing sustained it, but after a scared-to-death electorate elected a Republican majority in the House of Representatives in the “tea party” wave of ’10 there were no more “stimulus packages” or other major interferences and thus things improved slightly. As much as we still disdain Obama-nomics and hate to give the guy credit for anything, we have to admit that during the last two years of Obama’s presidency the economy was on a clearly upward path.
By the time a scared-to-death-of-something-or-another electorate gave an electoral majority to Trump, the unemployment rate was a respectable 4.8 percent and the GDP was growing at a not-great-but-not-bad 3 percentage points or so. As much as we disdain Trump’s trade wars and attempts to restore the coal-driven and low-tech economy of the ’50s, and as much as we hate to give the guy credit for anything, we also have to admit that economy has been on pretty much the same upward trajectory ever since Trump’s inaugural speech promise that “The American carnage ends right here, right now.” Trump’s exceedingly business-friendly regulatory and tax policies have no doubt helped, and his stupid trade wars and economic nostalgia haven’t yet hurt much, and by now the economy is rolling along at a rate we can’t blame the Fed for applying some slight pressure to the brakes.
Trump is already grousing about it, though, as he’d much rather be bragging about record stock market highs and new land speed records in economic growth and how nobody has ever seen anything like it. As much as we hate to give the guy credit for anything, we have to admit it’s another brilliant political ploy. If your stocks are down it’s because of that damned fellow who’s Chairman of the almighty Fed, that quintessentially quasi-governmental institution that actually runs everything according to all the leading “deep state” conspiracies since the days of President Andrew Jackson, and has nothing to do with Trump, who is surely an innocent bystander and fellow victim.
Trump did in fact appoint Jerome Powell as the chairman of the Fed, and Powell was confirmed by a Republican Senate, but so was Attorney General Jeff Sessions appointed by Trump and confirmed by a Republican Senate, and for now both are suspected conspirators in a “deep state” plots to overthrow Trump. Those smarty-pants know-it-alls at the Fed have a darned convincing case for raising the prime interest rate to a few notches lower than historical norms, tough, and if it keeps the economy chugging along at a optimal if not the-greatest-anyone’s -seen rate without inflation we’re sure Trump will be glad to claim the credit, and boast about how great it could have been if only he had been in charge. At this point the labor market is tight enough that further economic growth will require an increase in immigration, and Trump should also be grateful if the Fed spares him that dilemma.
These days our only interest in the stock market is in the long run, and over that dreary amount of time it’s survived the Great Depression and Stagflation and the Dot.com and subprime bubbles, and it’s even survived Obama and we figure it will probably survive Trump. We give some of the credit to those smarty-pants know-it-alls at the Fed, but most of it to all those anonymous schmucks who get up every morning and go to some office or factory or shopping mall and make the decisions and do the work that keeps our still mostly-free economy slogging along through good times as well as bad times.

— Bud Norman

Rainy Days and Mondays

Monday was a gray and rainy day here in the middle of America, with all the right lanes of Wichita’s streets flooding on our drive home from chores, and judging by the news we read in our nice dry office once we arrived home things were desultory all over.
That awful Omarosa Manigault Newman woman was still in the news cycle, which does no good for anybody. She’s the former reality star who got a high-level gig in the White House when her reality show co-star President Donald Trump was elected, but was fired by chief of staff John Kelly and is now described as a “low-life” by Trump because of the tell-book she’s about to publish. On Sunday’s “Meet the Press” she released a surreptitiously recorded tape of Kelly’s heavy-handed firing in the top-secret “Situation Room,” which made everyone involved look bad, and on Monday she released another surreptitiously recorded tape of Trump himself telling her that hated to hear about her firing, which is also embarrassing for all involved. She claims to have further surreptitiously recorded conversations with the president’s daughter and son-in-law and other high-ranking Trump administration officials, which we don’t doubt, and expect it will make all involved look bad.
Back east on Wall Street all the stock market indices were down again, and so far as we can tell that’s mostly because of the Turkish government’s fiscal irresponsibility and general craziness. Due to long-ago Cold War exigencies the increasingly Islamist Turks are full-fledged North Atlantic Treaty Organization members, and although they’re not fully-fledged European Union members they’re a big enough chunk of the western world’s economy that their impending bankruptcy is roiling the global markets. We’d happily blame it all on the once again “Sick Man of Europe,” but in this case Trump has congratulated Turkish President Recep Tayyip Edorgan on his recent promotion to de facto Islamist dictator, and is nonetheless waging war on both Erdogan and America’s democratically-elected leaders, and for now no one looks good in this stock market swoon.
Meanwhile, back in the U.S.A. Trump was meeting with the “Bikers for Trump,” and backing their improbable call for a boycott of Harley-Davidson motorcycles, which has lately been forced to shift some manufacturing to export markets as a result of Trump’s trade wars. The oh-so-polite Washington Post was shocked to notice that some of the self-proclaimed “outlaw bikers” had some pretty sexist patches on their leather and denim jackets, and showed up at the White House on their beloved Harley-Davidson “hogs,” and that also doesn’t make anyone look good.
There’s some good economic news, what with the low unemployment rate and rising wages, but if you look closer there’s a dark cloud inside that silver lining. Job creation has actually slowed since the last 16 months of the hated administration of President Barack Obama, and those long-delayed increases in wages have thus far been outpaced by a conspicuous uptick in the inflation rate, which in bi small part to do with all those tariffs Trump has imposed. The federal deficit is as high as it was when the evil Democratic triumvirate of Obama and Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi were running things in the aftermath of ’08 financial meltdown, and for now only the Democrats give even a hypocritical damn about it.
Trump’s former campaign manager Paul Manafort is still on federal trial regarding tax evasion and bank fraud charges, too, with Trump’s former deputy campaign manager Roger Stone providing some of the damning testimony so far, and Manafort will soon face another federal trial regarding his failure to register as a foreign agent for a pro-Russian Ukrainian government during the campaign. Federal Bureau of Investigation agent Peter Strzok was fired for his anti-Trump “tweets” to the woman he having an affair with with during the presidential campaign, which gave the pro-Trump media plenty of reason to talk about their version of the real “Russia thing” scandal, but given all the extra-marital scandals and outraged “tweets” from the president that also looks bad for everyone involved.
Worse yet, the damned Democrats seem even crazier. They’ve got self-proclaimed socialists running in various districts, and a lesbian Native American mixed martial artist nominated up in Kansas’ third congressional district, and “antifa” terrorists making the white supremacists look placid during the ongoing race riots popping up around the country, and so far they’re still clinging to that awful Pelosi woman. There’s even talk of nominating a porn star’s lawyer for the presidency, on the grounds that he’s an audacious reality star and “at least he fights,”and that so far he’s gotten the better of  of the president who paid off his client,  and in this day and age it might well prove a winning argument. A sane and centrist Democratic party might stave off disaster long enough for a revived Republican party to set things right, as far as we’re still concerned, but on this gray and cloudy it seems a remote possibility.
The floods are reportedly far worse back in Pennsylvania, where our parents happily lived for a few decades until they returned to Kansas a couple of years ago, and as always we acknowledge that things are tough all over. The local forecast calls for another rainy day today before we get back to another hot and sunny Kansas summer day on Wednesday, and those poor kids who have to start another dreary school day on the unconscionably early next Monday will surely appreciate that. We’ll hold out hope, too, but no one comes out looking good in the end.

— Bud Norman

Doubling Down on a Dumb Trade War

Way back when we were proud to be Republicans, it was largely because of the Grand Old Party’s principled stand for red-in-tooth-and-claw capitalism. When Republican nominee Mitt Romney accused President Barack Obama during a campaign debate of picking the economic winners and losers, and mostly picking the losers, we stood up and cheered. Now the Republicans are obliged to defend President Donald Trump’s protectionist trade war against the rest of the world, and to ignore the fact that he’s picking the economic winners and losers and mostly picking the losers.
On Monday Trump escalated the trade war with China by threatening $200 billion of tariffs on that country’s exports to the United States, his earlier threat of a mere $50 billion of tariffs having failed to force China’s capitulation to his trade demands, and of course China immediately responded with threats of retaliatory tariffs. Of course the stock markets hated the news, and so did everyone else with a basic understanding of the global economy. It’s bad economic policy, has warped America’s foreign policy to the point that North Korea’s nutcase dictator Kim Jong-Un is a an honorable leader much beloved by his starving people and Canada’s democratically elected Prime Minister Justin Trudeau is a weak and dishonest leader who awaits a special place in hell and all of our longtime allies are suspect, and in the long run it will prove bad politics.
Trump’s tariffs on steel and coal imports will surely be popular with people employed in those industries, but it will just as surely be unpopular with people who work in steel- and coal-buying industries, and anyone who buys anything made of steel or powered by coal, and the latter categories are by far a bigger voting bloc. There are also a lot of wheat farmers and airplane-makers who do a brisk trade with China and will surely be chagrined if China decides to buy from Argentina or Airbus, and a large chunk of Trump’s die-hard defenders will eventually notice that their shopping trips to Wal-Mart are suddenly far more expensive. The worst case scenario for a global trade war is the same as the last time a cocky and unprincipled Republican president tried it, which resulted in the Great Depression and eventually World War II, and even Trump will be hard-pressed to spin that outcome to even his most die-hard defenders.
The best-case scenario is harder to imagine. Red-in-tooth-and-claw capitalism has always resulted in the creative destruction of longstanding industries, such as buggy-making and Blockbuster video stores, but it has reliably replaced them with something the public has always found better. China isn’t the reason that coal-mining now employs a mere 50,000 workers in America, which is mainly because of mechanization and nuclear plants and fracking of natural gas and all those windmills along I-35 and other more healthy ways to generate the nation’s energy. We sympathize with those last remaining coal miners, but red-in-tooth-and-claw capitalism might well replace their jobs with something that doesn’t cause black-lung disease and an early death, and in any case they’re a small voting bloc.
Trump seems to believe the best-case scenario is back to the good old days when America mined coal and made all the world’s steel, and that his die hard defenders will prefer that to this high-tech age and what might come next. What might come next might well be far better, though, and we’ll bet on that rather Trump’s global trade war.

— Bud Norman