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The Wrongologist

Geopolitics, Power and Political Economy

Monday Cartoon Blogging – June 12, 2017

The Wrong family is back from graduation weekend, Rod’s homebrew was the best, and a good time was had by all. Except for possibly the newly minted graduates, who had to listen to recycled exhortations to put down their screens, find their own compass, etc.

Trump started infrastructure week saying we should privatize the FAA. You might see this:

British Prime Minister May’s snap election strategy backfired:

Wonder Woman dominated the news:

And many wondered about the Wonder Woman vs. Working Woman comparisons:

How did Comey rehabilitate himself with Democrats?

The Saudis say the Qataris support terrorism, but what about them?

RIP Adam West:

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June 9, 2017

(There will be no Saturday Soother this week, and Sunday Cartoon Blogging will appear on Monday. The Wrong family is attending the high school graduation of our granddaughter in Pennsylvania. Congrats Claire! She is #8 in our 12-part series of grandchild HS graduations)

The Daily Escape:

Kingfisher with crayfish – photo by JH Clery

Everyone is following the Comey testimony, and Wrongo has nothing to add, except that none of this matters unless and until Special Counsel Robert Mueller provides a report that the public can review. That may never happen. There might be a report, and it could go to Congress and disappear without any public scrutiny, just like the report on CIA torture.

The bigger story of the day is the outcome of the snap election in the UK, where PM Theresa May lost control of Parliament. The Tories lost 12 seats, when just two months ago they reasonably hoped to gain nearly 100. Labour did far better than the pundits expected, but that outcome should have been clear to everyone. After nearly 40 years of neoliberal policies in the UK, the pundits believe that ordinary citizens are content to get the short end of the stick forever. Probably not, since the backlash has started.

ICYMI, here is an interview by NPR with the head of RT, the English-language news channel funded by the Russian government:

http://www.npr.org/2017/06/09/532196946/russia-needs-to-counter-mainstream-media-head-of-rt-network-says

The BBC has an interesting story about the Taliban in Helmand Province in Afghanistan. The Taliban controls about 85% of Helmand, and recently struck an arrangement with the Afghan government whereby the government is funding schools and hospitals operated by the Taliban.

  • Is this the outcome of America’s 16-year long failed effort to destroy the Taliban?
  • Can the Taliban be brought into the government, thereby ending the war?
  • Are the Taliban simply biding their time until the central government collapses from its own inability to keep the country secure?

See you on Monday!

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Is Taxing Robots a Solution to Fewer Jobs?

The Daily Escape:

(Slot canyon with dust devil – photo by Angiolo Manetti)

Yesterday, the Dutch voted in an election pitting mainstream parties against Geert Wilders, a hard-right, anti-Islam nationalist whose popularity is seen as a threat to politics-as-usual across Europe, and possibly, as an existential threat to the EU.

Wilders, who wants to “de-Islamicize” the Netherlands and pull out of the EU, has little chance of governing, as all of the mainstream parties have already said they won’t work with him. Given Holland’s complicated form of proportional representation, up to 15 parties could win seats in parliament, and none are expected to win even 20% of the vote. OTOH, polls show that four in 10 of the Netherlands’ 13 million eligible voters were undecided a day before voting, and there is just 5 percentage points separating the top four parties, so Wilders could surprise everyone.

As Wrongo writes this, the Dutch election results are not known, but PBS NewsHour coverage on Tuesday surfaced a thought about taxing robots. PBS correspondent Malcolm Brabant was interviewing workers in Rotterdam:

Niek Stam claims to be the country’s most militant labor union organizer. He says the working class feel insecure about their prospects because of relentless automation and a constant drive to be competitive. The union is campaigning for robots to be taxed.

Brabant then interviewed a worker:

Robots do not buy cars. Neither do they shop for groceries, which leads to a fundamental question: Who’s going to buy all these products when up to 40% of present jobs vanish?

This isn’t an entirely new idea. Silvia Merler, blogging at Bruegel, says:

In a recent interview, Bill Gates discussed the option of a tax on robots. He argued that if today human workers’ income is taxed, and then a robot comes in to do the same thing, it seems logical to think that we would tax the robot at a similar level. While the form of such taxation is not entirely clear, Gates suggested that some of it could come from the profits that are generated by the labor-saving efficiency…and some could come directly in some type of a robot tax.

The main argument against taxing robots is made by corporations and some economists (Larry Summers), who argue that it impedes innovation. Stagnating productivity in rich countries, combined with falling business investment, suggests that adoption of new technology is currently too slow rather than too fast, and taxing new technology could exacerbate the slowdown.

It can be argued that robots are property, and property is already taxed by local governments via the property tax. It might be possible to create an additional value-added tax for robots, since an income tax wouldn’t work, as most robots are not capable of producing income by themselves.

Noah Smith at Bloomberg argues that the problem with Gates’ basic proposal is that it is very hard to tell the difference between new technology that complements human work, and new technology that replaces them. Shorter Noah Smith: Taxation is so hard!

Why are Western economies stagnant? Why has wage growth lagged GDP growth? Automation is certainly a key factor, but rather than point the finger at the corporations who continually benefit from government tax policies, let’s just assign blame to an object, a strawbot, if you will. That way, we won’t look too carefully at the real problem: The continuing concentration of economic and political power in the hands of fewer and fewer corporations.

Automation isn’t the issue, tax laws that allow economic treason by corporations in their home countries are the issue.

Why is nationalism on the march across the globe? Because fed-up workers see it as possibly the only answer to the neoliberal order that is destroying the middle class in Western democracies.

Let’s find a way to tax robots. Something has to offset Trump’s tax breaks for the rich.

Now, a musical moment. Did you know that “pre-St. Patrick’s Day” was a thing? Apparently, some dedicated celebrators prepare for the day itself by raising hell for up to a week beforehand. With that in mind, here is some pre-St. Pat’s Irish music, with Ed Sheeran singing “Nancy Mulligan” a love song about his grandparent’s marriage during WWII, against the wishes of her parents, and despite their Catholic/Protestant differences:

Those who read the Wrongologist in email can view the video here.

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Wrongo’s Useless 2017 Predictions

It’s tough to make predictions. Especially about the future.”Yogi Berra

Since you have already plunged a stake into the heart of 2016, it is time for some predictions about 2017, which most likely, won’t happen. We can expect the following:

  1. There will be more global political and social turmoil:
    1. The EU could collapse. France is a Marine LePen government away from pursuing an exit from the EU, so there would be a Frexit to go along with Brexit.
    2. China’s economy is wobbling, and China’s president Xi has leaned into a populist message:

On this New Year, I am most concerned about the difficulties of the masses: how they eat, how they live, whether they can have a good New Year…

  1. The US will continue to lose influence globally despite “Mr. Unpredictable” becoming our Orange Overlord: Trump brags about winning when he negotiates. That has been undeniably true in his real estate and name brand licensing. He will find that when the other side doesn’t need access to his brand in order to succeed, he will have to resort to instilling fear. That may work once, but it will not work consistently.
  2. A corollary: Trump arrives in the Oval Office as an overconfident leader, the man with no plan but with a short attention span, and within six months, he will have his first major policy failure. Getting his hand burned will make him more subdued, more conservative and less populist thereafter.
  3. A second corollary: The triumvirate of Russia/Turkey/Iran will elbow the US firmly out of the Fertile Crescent, and secure friendly regimes in Damascus, Baghdad and Tehran. This will push American influence in the Middle East back to just the Gulf States, a weakened Saudi Arabia, and an increasingly isolated Israel.
  4. Domestically, drug abuse, suicide, and general self-destructive behavior will continue to climb and become impossible to ignore.
  5. The Trump stock market rally has already turned into the Santa Selloff. The Dow peaked on December 20 at 19,975, 25 points away from party-hat time. But since then, Dow 20,000 slipped through our fingers like sand. It closed the year at 19,719, down 281 points from 20k.
  6. Regarding the stock market, many people who want to sell stocks waited until 2017 in order to pay lower capital gains tax. Selling in January could lower prices further.
  7. The growing antibiotic resistance to main stream drugs will impact health in the US.

Meta Prediction: It is certain that few Trump voters will get the results they voted for. Some people who voted for Trump have incompatible outcomes in mind, so it’s a virtual guarantee that a sizable minority are going to feel cheated when they fail to get what they were promised.

OTOH, when Trump fails, most of his base will blame anyone but the Donald. The question is, when disillusionment sets in, will the reaction be a turning away, or a doubling down on the anger?

Wrongo thinks anger will win out.

The coming Trump administration will seem like a fractious family outing: Just under half of the family (the “landslide” segment) wanted to go out, but now, the whole family has to go. Those who wanted to stay home will sulk in the back seat while Daddy tells them to stop bitching.

Meanwhile, once we are out of the driveway, it dawns on everyone that Daddy hasn’t decided yet where to go. Everyone pipes up with suggestions, but Daddy again tells everyone to shut up, because it’s his decision alone. There will be the usual “are we there yet?” complaining, some motion sickness and incessant fighting over who is touching whom.

Daddy won’t reveal the destination, but insists everyone will love it once they get there, even those who wanted to stay home, those who wanted to go the beach, and those who wanted to head over the cliff like Thelma and Louise.

Time for our Monday Wake Up Call, “Wake Up Everybody”, originally by Harold Melvin and The Bluenotes, featuring Teddy Pendergrass. Teddy left the group for his solo career after this album.

But, today we will hear and watch John Legend’s cover of the tune, backed by the Roots Band along with Melanie Fiona, and Common. The song is as strong as it was 42 years ago when it was released:

Those who read the Wrongologist in email can view the video here.

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Hillary Should Grab Populism and Run With It

The biggest change in our politics in the past 20 years is the rise of populism on the left and right. The populists believe that we are led by a selfish elite that cannot—or will not—deal with the problems of ordinary working people, and there is ample evidence that they are correct.

Trump and Clinton say they will bring back jobs that corporations have shipped offshore. They make China the scapegoat for lost economic opportunity, while the real causes are automation and the triumph of the spreadsheet in corporate strategy.

Those jobs are never coming back, and a candidate who says they can negotiate with foreign governments to bring jobs back demonstrates either their naiveté about the true cause of job loss, or a simple desire to BS the American public.

Voters can see through that.

Economic and cultural insecurity are the bedrock causes for populists. Unemployment and stagnant wages hurts working-class whites, while cultural issues are a top issue for older white Americans. The first group sees their jobs threatened by automation and globalization. They join with older whites in seeing immigrants as scroungers who work for less, grab benefits and if you believe Trump, commit crimes.

Both groups also believe that American society is being undermined by diversity and foreign-born citizens.

This is the battle line of the 2016 presidential election. The mediocre economy that has been with us for nearly 20 years has caused real harm. We remain a wealthy country, but certain groups now see their opportunity slipping away. Slow growth, or no economic growth, means only a few elites will do well, and most voters see the self-serving political class as siding with the elites.

So can a candidate unify an electorate that now plays a zero-sum political game?

  • The Pant Load has the better position in this game, since he can exploit pre-existing fears that are based in fact.
  • The Pant Suit must carefully calibrate her message, but she cannot be a “maintain the status-quo” candidate and win.

Clinton would do well to consider what William Berkson said in the WaMo:

If there is one national goal that Americans can agree on, it is opportunity for all.

Berkson makes the point that since President Reagan, Republicans have advocated a simple theory of how to grow the economy: The more you reduce government involvement in the economy and the more efficient markets become, the more the economy grows.

Sorry, but the simplistic theory of free market economics has been drowned in a tsunami of fact in the past 35 years. Berkson says:

Both Democratic administrations since Reagan—that of Bill Clinton and Barack Obama—have raised taxes, and under them, the economy grew more rapidly than under the tax-cutters Reagan and George W. Bush.

This opens a path for the Pant Suit. In order to win, she must assure voters that she will deliver more and better jobs. Family income must go up. But how to achieve this?

By advocating a policy of economic opportunity through public investment in infrastructure. It fulfills the promise of opportunity for all, a populist message that has proven to work throughout America’s past. And it allows Clinton to hammer the GOP Congress and Paul Ryan about the lack of any track record for laissez-faire policies, since they have never worked, not even once, as a miracle cure for jobs and income inequality. This would be an open return to Keynesian economics. Here is Eduardo Porter in the NYT:

The Keynesian era ended when Thatcher and Reagan rode onto the scene with a version of capitalism based on tax cuts, privatization and deregulation that helped revive their engines of growth but led the workers of the world to the deeply frustrating, increasingly unequal economy of today.

And led to the low growth economy that drives today’s populist anger.

How to fund that infrastructure expense? More revenue. For the last 40 years, Democrats have been unwilling to counter the conservative argument that higher taxes are a redistribution of wealth between classes. Clinton should argue that current tax policy is really a transfer of resources from tomorrow’s generation to today’s. This is a strong populist message.

Younger Millennials understand this clearly. They already believe Social Security will not be there when they need it. She can win them over if she makes a case for new jobs and new revenues.

When conservatives say that it is unfair for people in their highest earning years to pay more taxes on that income, Clinton can point out that this is a past-due bill that they need to pay just as their elders paid higher taxes that supported the current earners when they were starting out. It was that investment in public resources such as public education and infrastructure, and in research, technology and industry that enabled today’s peak earners to get where they are.

While the strategy opens Clinton to criticism from Grover Norquist and the right about fiscal irresponsibility, it pits Trump against the Tea Party and the GOP. He would need to choose between being a populist or a doctrinaire fiscal conservative. Either way, it will bleed votes from some part of his base.

The strategy could work in down ballot races as well, particularly in the Rust Belt. Maybe working class conservatives will hear her, and not vote against their economic interests for once.

We’ll see if she will move from status quo, to “let’s go” as a campaign strategy.

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More Political Lessons From Brexit

There is a neoliberal aspect to Brexit that has many Brits in the 1% quietly (and tentatively) quite happy. Fraser Nelson, editor of the Spectator and a columnist for the Daily Telegraph, writing in the WSJ, said the Brexiteers:

…think the vote for Brexit was about liberty and free trade, and about trying to manage globalization better than the EU has been doing from Brussels.

Neoliberalism at its finest. You could substitute “No Obama” for “Brexit”, and “Washington” for “Brussels”, and think it was the GOP talking.

Mr. Nelson says that a major problem was that the EU’s centralized, command-type structure makes local issues difficult to manage. He says that regulations issued at the European level, rules promulgated by officials whose names Brits didn’t know, people they never elected and cannot remove from office, became law in the UK. More from Mr. Fraser: (emphasis and brackets by the Wrongologist)

Mr. Cameron has been trying to explain this to Angela Merkel…He once regaled the German chancellor with a pre-dinner PowerPoint presentation to explain his whole referendum idea. Public support for keeping Britain within the EU was collapsing, he warned, but a renegotiation of its terms would save Britain’s membership…Mr. Cameron was sent away with a renegotiation barely worthy of the name. It was a fatal mistake [by the EU] not nearly enough to help Mr. Cameron shift the terms of a debate he was already losing.

The EU took a gamble: That the Brits would not vote to leave. A better deal—perhaps aimed at allowing the UK more control over immigration, a top public concern in Britain—might have stopped Brexit. But the absence of a deal sent a clear message: The EU isn’t interested in reform.

The EU apparently needs fixing, but it won’t be the UK who does it. Cameron tried in a lukewarm way to fix Europe a little around the edges, and failed. A final point from Mr. Fraser:

The question is not whether to work with Europe but how to work with Europe. Alliances work best when they are coalitions of the willing. The EU has become a coalition of the unwilling, the place where the finest multilateral ambitions go to die.

Perhaps. It IS clear that not all regulations are created equal, some are inefficient, and some are just stupid. But, a business environment with fewer government regulations is the wet dream of most business owners, while it often harms consumers. It is also true that the Brexit supporters were able to conflate in the minds of voters all the discontent with UK austerity, benefit cuts, poor quality job creation and wage stagnation along with the EU’s hegemony, into a big ball of emotion.

And it worked.

The inside-the-bubble UK neoliberal view is that the EU was the problem, and the British voters solved that. America doesn’t have an analogue. We could leave NAFTA, but that has none of the earth-shaking possibilities. We could fail to pass the TPP. That would be a yuuge anti-neoliberal event.

There is an economic malaise in blue collar UK. Once an industrial powerhouse, it has become service driven, with finance and lawyering representing a significant portion of its economy. Sounds just like America in 2016.

Let’s link all of this up with our domestic political economy:

  • Income inequality has grown in the US since at least the 1980s.
  • Real median income is the same as in 1996.
  • Our Labor Participation Rate (the share of American civilians over the age of 16 who are working or looking for a job) is about where it was in the 1970s.
  • Despite a rosy headline unemployment rate of 4.7% (which counts only people without work seeking full-time employment), the U-6 rate (includes discouraged workers and all marginally attached workers, plus those workers who are part-time purely for economic reasons) is much higher at 9.7%. In human terms, that is 15.3 million souls who need a job.

Donald Trump and Hillary Clinton both see these things. The candidate who convinces voters that s/he will really address them will win.

Trump is correct when he says if there are millions out of work, how can we permit immigration? He wrongly focuses on Mexicans, but he’s right: We need fewer people pursuing the fewer jobs we will have until at least until 2025, when finally, all the Baby Boomers retire.

America is in a class war, but it’s the working class versus the middle class rather than workers versus billionaires, as Bernie talks about. Joe Six-pack doesn’t hate the billionaire class. Therefore, Trump is acceptable.

The Pandering Pant Load sees this, and has moved to exploit their anger.

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How Brexit Informs The Pant Suit’s Strategy

We are told that the Pant Suit is the candidate of the status quo, while the Pant Load is a wild card who will bring about change, possibly change that causes immediate remorse if he is elected. That’s just what the UK is experiencing. After a weekend facing the realities of Brexit, 3.5 million Brits have signed a petition for a do-over vote on “Remain vs. Leave”.

The pundits say Clinton can’t be the candidate of change because she supports President Obama, and the common view is that her first term would be Obama’s third term. But, if Brexit has relevance for the American election, she must avoid appearing to be the candidate of the status quo.

If the Pant Load can make the election about any kind of change vs. more of the same, Clinton will be vulnerable.

She should run against Trump’s fitness to govern, and the fitness of the Republicans in Congress to govern as well. After all, Republican Congressional leaders decided not to govern in January 2009, and so far, they have not paid a political price for their obstructionism. Of course, Mr. Obama tried to run against the do-nothing Congress in 2014, and the result was that the GOP took control of both houses.

Maybe it would be different this time for the Pant Suit.  As Steve Waldman said about this strategy at the WaMo:

But if it could ever work, it’s now.  The most recent Economist/YouGov poll reported a 9% approval for Congress among registered voters. It is literally the most unpopular Congress in the history of polling.  Clinton can make the attack more effectively than Obama, because it won’t sound as much like blame-shifting.

And she could make running against Congress sound like change. She needs to shift some of her focus away from declaring the Pant Load unfit for office. That is, unless he keeps making more mistakes like his inexplicable PR disaster in Scotland.  If he does that, her speeches will write themselves, and he will keep sliding in the polls.

She should run to enact specific things that Congress has blocked – infrastructure spending, ending tax breaks for corporate off-shoring, and universal background checks for gun ownership. But she needs to distance herself from more from Obama on global trade deals. Consider this from the Detroit Free Press:

CNN’s exit poll, which surveyed 1,601 Michigan Democratic voters as they left their precincts Tuesday, showed that 58% of them believed trade with other countries costs jobs, compared to 30% who believe they create them. And among those who believe trade costs jobs, Sanders won by a large margin, 58%-41%.

Michigan is a key state for Clinton, and she needs to build a firewall in a few other states that Obama won in 2012, but where she now has some trouble, if the June 21 Quinnipiac polls for Florida, Ohio, and Pennsylvania are correct. The polls show Clinton with a clear lead in Florida (47%-39%), but locked in ties in Ohio (40%-40%) and Pennsylvania (42%-41%).

She has to keep the Pant Load from winning both Ohio and Pennsylvania, which right now, look to be toss-ups, meaning Trump could win both. Pennsylvania also has a number of swing House districts and an important Senate race, so Clinton must work hard there, even if it were completely in the bag for her. OTOH, PA elected a Democratic governor in the 2014 Republican landslide, and hasn’t gone red in a presidential election since 1988. This, from Booman:

For starters, Obama won in 2012 with 332 Electoral College votes to Mitt Romney’s 206. If we keep everything the same and award Ohio and Pennsylvania to Trump, the result is 294-244.

So, winning Ohio and Pennsylvania would be a start for the Pant Load, but without Florida, it’s hard to get from 244 to the 270 votes needed to win. In fact, without Florida, Trump would have to win Ohio, Pennsylvania, Virginia, New Hampshire and Michigan, while losing Iowa in order to garner a 277-261 victory.

It’s a long way to November, and who knows who will win? It’s difficult to believe it will be close, but we lived through two Nixon wins, so electing someone you dislike and distrust is nothing new for America.

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Brexit: Better for the Pant Load or for the Pant Suit?

Around here, Monday means a wake-up tune. We should have Brexit breakup music, but instead of song, we need to watch this video by Mark Blythe, a Scottish political scientist, and a professor of international political economy at Brown University, about the logic behind voting for Brexit:

Blythe makes more sense in 5 minutes about the EU, why Brexit happened, and some implications for the US, than the entire journalistic class has said using millions of words over the past few days. At 4:01, he says, “As I like to say to my hedge fund friends, the Hamptons is not a defensible [military] position.”

Let’s take a quick look at a few conclusions of the Brexit vote:

  • Rust cities and towns largely voted to Leave
  • Wealthy cities favored Remain
  • Rural areas that have not seen much immigration had seen a lot of austerity
  • Older voters wanted to return to the prosperous 1970s-1980s, regardless of whether that is realistic

Demographically, the most striking difference in voting was between young people and older people. A YouGov poll showed:

18-24: 75% voted for Remain
25-49: 56% voted for Remain
50-64: 44% voted for Remain
65+:     39% voted for Remain

So younger voters wanted to keep the option to be citizens of a larger economic unit, where they might find more and better job opportunity, while older voters wanted out of the EU for a variety of fact-based and fear-based reasons. On either side of the Atlantic, it’s a mistake to think that people know all the facts before they decide. From Seth Godin:

There are two common causes of uninformed dissent…The second (quite common in a political situation), is the tribal imperative that people like us do things like this. No need to do the science, or understand the consequences or ask hard questions. Instead, focus on the emotional/cultural elements and think about the facts later.

Our first Brexit lesson is that America has a huge base that is angry, scared, and possibly, more than willing to jump into the abyss. Sober analysts warned Britons that pulling out of the EU would be an economic and security debacle. But, as Matthew d’Ancona of The Guardian observed:

They heard the warnings, listened to experts of every kind tell them that Brexit meant disaster, watched the prime minister as he urged them not to take a terrible risk…And their answer was: Get stuffed.

Our second Brexit lesson is that nativism, anti-immigration fervor, and elite-bashing are potent tools.

There was a definite scent of “Make Britain Great Again” running through the Leave campaign. The Leavers urged Britain to “take control” of its borders. While we point at Mexico, they pointed at Turkey, which they said would flood the UK with immigrants, even though Turkey may never be a member of the EU.

You can call it racism, you can blame it on the “market” or, you can blame it on the economic circumstances created by the political elites steering the ship.

This resonates in the US because foreigners are a source of marginal cheap labor that corporations use to bludgeon our working class. That anger is partly justified. However, it is misdirected, because people only believe what they want to believe, and because it’s easier for working people to blame foreigners than to blame themselves for repeatedly electing an economic elite that just keeps playing them over and over.

Brexit is an important wake-up for the US presidential election. Britain’s uprising against the European Union is the sort of populist victory over establishment politics that could easily happen here. As the NYT said on Sunday:

Mrs. Clinton shares more with the defeated “Remain” campaign than a similar slogan — her “Stronger Together” echoing its [Remain’s] “Stronger In.” Her fundamental argument, much akin to Prime Minister David Cameron’s against British withdrawal from the European Union, is that Americans should value stability and incremental change over the risks entailed in radical change and the possibility of chaos if Donald J. Trump wins the presidency.

Hillary urges potential voters to see the big picture, while promising to manage economic and immigration upheaval, just as Mr. Cameron did. She is also a pragmatist battling against nationalist anger, cautioning that the turmoil after the Brexit vote underscored a need for “calm, steady, experienced leadership in the White House.”

But we are not the UK, and today, the ABC/WaPo poll has Hillary is up by 12 points, although we still have miles to go before 2016’s election night.

We will have future columns covering our neo-liberal policies, their impact on the American people, and their implications for 2016, over the coming days and weeks.

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Sunday Cartoon Blogging – June 26, 2016

Sunday cartoons return! Sorry for the hiatus, but it was unavoidable.

Quite the week. Did the sky just fall on the UK? We will have more over the next few days. There is still left-over emotion about Orlando. We had a sit-in by Dems, or as one wag said, it was the first time in years that Democrats stayed up past 10:00pm. But, did it achieve much? And of course, there is the 2016 presidential campaign.

Europe and the UK worked for nearly 70 years to put the EU together, and it is undone in an evening:

COW Brexit 2

The conventional economists’ view of what Brexit means:

COW Brexit 3

UK Prime Minister David Cameron misreads the people, pays the price:

COW Brexit 4

Orlando led to sit-ins, political and otherwise:

COW Sit In

Loyalty oaths were on display after Orlando:

COW Loyalty

Trump has less campaign dough than expected, but there was a benefit:

COW Bigger Hands

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