The Latest News.

I’m a never-Trump Republican.  I didn’t vote for him the last time and I’m not going to vote for him the next time.  I think, to steal a line from P.J. O’Rourke, that when the Donald Trump Monument is unveiled in Washington, DC, it will consist of a large pit with a donkey at the bottom.  That said, here are my thoughts on “The Latest News.”(Name of an anti-Bolshevik Russian refugee newspaper published in Paris).

  1. Paul Manafort is convicted of stuff from 2014 and before in Ukraine and Trump is supposed to be worried about what he may say about Russian collusion in 2016?  What if there was no collusion, as Trump has insisted?  So far, but we’re waiting for Robert Mueller’s final report or charges before we know.  We’re also waiting for the Department of Justice Inspector General’s report on the origins of the Russia investigation.  The last one excoriated James Comey in exactly the terms used by Rod Rosenstein to fire him back before Trump admitted that it was about Russia.  The IG also came down hard on Andrew McCabe.  So, he doesn’t look too marshmallow-like to me.  Let’ wait on the reports.  In the meantime, the suspicion might arise that Manafort would fabricate stuff to please Mueller.  Or, if Manafort says “I don’t know anything about what you want to know,” does he get the book thrown at him?
  2. Michael Cohen pleaded to a bunch of stuff he did independently of Trump + he helped pay hush money to a couple of women with whom Trump had had sex.    Similarly, HRC refused to release the text of her secret speech to Wall Street bankers for exactly the same reason as Trump tried to hide the revelations of “Stormy Daniels” and that other one.  People might think less of them during the run-up to an elections.  Did the lawyers and political operatives–if any–for HRC who counseled her on refusing to release the text of the secret speech also violate campaign finance laws?  After all, they got paid money to keep the truth hidden.   For that matter, how many of the Democrats who want to get Trump also said “OK” when Bill Clinton said “Well, we’ll just have to win it”?
  3. Turning to matters of substance, rather than froth and scum (see: Andie Tucher https://www.amazon.com/Froth-Scum-Beauty-Goodness-Americas/dp/0807844721 ),  Mexico is willing to make concessions on NAFTA and Canada will soon join in.  China has resumed talks with the US on tariffs and may yet open its markets to American goods.  The NATO allies are finally starting to meet their long-standing commitments.  North Korea has begun talks with South Korea and the US on nuclear disarmament.  It seems that the North Koreans suddenly figured out how to make (or buy) ICBM rocket engines and the computer technology to prevent US cyber-attacks on missile tests.  Could the CIA offer some insight on how this happened?  Then, huge numbers of ordinary Iranians, according to the New York Times, want their government to talk to the US, given the collapse of the Iranian economy.  The corporate tax is down to international norms.  OK, spending is wayup above international norms.  The unpredictable regulatory environment of the Obama administration has been reined-in.
  4. Yes, Trump identifies with “strong leaders.”  What do people want?  A continuation of the “Empire” as it operated under Clinton, Bush, and Obama?  Bunch of weak elites of both parties are nostalgic for the era of the USA telling everyone else what they had otta do, while getting bent-over on trade and other stuff.  Times up.
  5. Minor social stuff.  A.) Wait, Asia Argento had sex with  a 17 year-old boy and he was “traumatized”?  As opposed to grateful?  You ever see her in “La Reine Margot”?  Was he fighting to keep his virginity?  You know any 17 year old boys who are/were saving it for marriage?  Me neither.  America never was “Up With People.”  Then, how did the stuff come to the NYT?  And why were they in such a hurry to publish it?  To bust on an immigrant woman who may or may not be a little kinky?  Think about that one.  B.)  One little picture in the paper of the activists who pulled down the statue of “Silent Sam” at Chapel Hill.  (S’OK by me.  My great-great grandfather was killed at Nashville commanding the 35th Iowa Volunteer Infantry Regiment.  Picture of him getting knocked backward off his horse by a minie-ball to the head appeared on the front page of Harpers.  Burn the whole place down.)  In that picture, all but one of the people is white.  In the story accompanying the picture, the black people who are interviewed are described as being at the back of the crowd.  Was the crowd truly multi-racial, diverse, and inclusive, or was it a bunch of white activists who appropriated the justifiable anger of African-Americans for their own purposes? I would really appreciate it if people could give me some information or advice here.
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Memoirs of the Addams Administration 24.

Republicans struggled forward with the effort to make the Obama administration go away.  In 2010, the Democrats passed the so-called Dodd-Frank Act.  That legislation led to the imposition of about 28,000 new regulations on banks and credit unions, greatly increasing compliance costs.  As a result, many small institutions have been absorbed into larger institutions with deeper pockets.  The Dodd-Frank Bill created an Orderly Liquidation Authority for banks that do fail.  It created a Consumer Financial Protection Bureau.[1]  All of these were wildly unpopular with Republicans.  House Republicans passed the Financial Choice Act.   It exempts banks from many of the Dodd-Frank restriction in return for a requirement that they maintain large cash reserves.  The bill now goes to the Senate.  There it is likely to be subjected to a substantial re-write.[2]  Meanwhile, Republican senators have been trying to create a less-horrible version of the American Health Care Act (ACHA) previously passed by Republican representatives.[3]  The Senate plan postpones cuts to Medicaid for seven years[4] and maintains—at a lower level—the subsidies to low-income earners.[5]

Elsewhere, the World Economic Forum[6] (the folks who bring you Davos) reported that many Western countries—but the United States most of all—are suffering from a huge gap between the savings needed for retirement and actual savings for retirement.[7]  The American gap amounted to $28 trillion in 2015 and is projected to reach $137 trillion in 2050.  Cat food-salad sandwiches and living in an ElderCommune being unlikely to appeal as the “golden years,” one might anticipate a fight among Baby Boomers as the lower 80 percent seek to draw on the savings of the upper 20 percent.[8]

All of these were important developments for good or ill.  However, Americans seem to have focused more tightly on the controversies surrounding President Donald Trump.  To begin with, former FBI director James Comey told the Senate Intelligence Committee (which has been investigating possible collusion between the Russians and the Trump campaign) that the president made him uncomfortable in several private conversations, that he had made detailed notes of these conversations, and that he had arranged for these notes to be leaked to the press after his dismissal in hopes to triggering the appointment of a special prosecutor to investigate the man who had fired him.  Next came Attorney General Jeff Sessions and his porous memory.  Sessions told generally hostile former colleagues that he fired Comey for reasons unrelated to the FBI’s investigation of the “collusion” investigation.[9]   To round-out the week in suitable fashion, New York City’s “Shakespeare in the Park” series ran a version of “Julius Caesar” with a Trump look-alike in the title role.  Back in 2013 a square-state theater company used “Caesar” to imagine Barack Obama slain by right-wingers.  Now a right-winger is portrayed as meeting his death at the hands of women and minorities.[10]

[1] Just for fun, let’s imagine a Consumer Information Protection Bureau with its own “fiduciary  rule” requiring newspapers and other print media and television networks to “act in the best interests of their clients.”

[2] “Issue of the week: Dodd-Frank under fire,” The Week, 23 June 2017, p. 34.

[3] “Trumpcare: The GOPs secret plan,” The Week, 23 June 2017, p. 17.

[4] Actually, this is pretty clever.  Seven years from 2017 would be 2024.  Given the way that the parties alternate in the White House, a Democrat would be walking in the front door just as the Medicaid cuts took effect.

[5] One federal court has held that those subsidies are illegal because the original Affordable Care Act (ACA) made no provision for appropriating the money to pay for the subsidies.  The Obama administration appealed this decision.  The case has not yet reached the Supreme Court.  When/if it does, that will be the end of all subsidies and the whole system of “mandated” insurance for poor people who don’t have employer-supplied medical insurance will collapse in a heart-beat.   Republicans hope to use this as leverage.  Democrats have been blaming the “uncertainty” caused by the Republican repeal-and-replace effort among insurers for the collapse of the health-care market-places.

[6] See: https://en.wikipedia.org/wiki/World_Economic_Forum

[7] “Retirement: Will Boomers work forever?” The Week, 23 June 2017, p. 32.

[8] See Richard Reeves “America’s hidden class system,” The Week, 23 June 2017, p. 12.

[9] “Comey: did he damage Trump?” The Week, 23 June 2017, p. 6; “Sessions denies collusion as Trump eyes Mueller,” The Week, 23 June 2017, p. 4.

[10] “Julius Caesar: Assassinating Trump on stage,” The Week, 23 June 2017, p. 17.