Kensington Review

11 June 2024

 

Cogito Ergo Non Serviam

 

Latest Commentary:

Gantz Quits Israeli War Cabinet -- After he was caught napping while Hamas attacked Israel on October 7, Prime Minister Benjamin Netanyahu decided to form a war cabinet from across the local political spectrum to enhance political stability in a difficult time. It also meant he had some political cover for the inevitable errors that occur on a battlefield. Chief among the outsiders was Mr. Benny Gantz, a former general in the Israeli Defense Forces, head of the National Unity Party. His participation brought some hope of sensible centrism to the war cabinet. He resigned over the week-end. The way the IDF is fighting this war has disappointed him. [11 May]

US Economy Added 272,000 Jobs in May -- The US economy added 272,000 jobs in May, exceeding expectations. At the same time, the unemployment rate ticked up to an even 4%. This ends a record-setting, 27 month period in which that rate was under 4%. The last time that happened was in the 1960s. The report gives the Federal Reserve grounds to delay its long-awaited rate reduction. In all likelihood, this has postponed that event for at least another month. The economy is doing just fine, and this fixation on an inflation rate that most nations would kill to have is rather pointless. Nevertheless, that will be the policy decision. (7 June)

ANC Loses Majority -- In South Africa, the African National Congress has been the party of government since the end of apartheid. As late as the 2019 election, the ANC received almost 60% of the vote. High unemployment, weakened public services and the global inflation along with political antics of ex-president Zuma resulted in a collapse of the ANC vote to just over 40%. The ANC is internally suggesting a government of national unity. That is unlikely as some parties refuse to work with others. But it is an opening bid to see who is willing to go into coalition.[6 June]

Modi Wins Third Term with Plurality -- India, the biggest democracy in the world, held a general election over the last six weeks. Casting and counting all those votes, 640 million of them, in a country as diverse in geography and climate, and culture, as India takes time. Prime Minister Narenda Modi led his Hindu nationalist Bharatiya Janata Party (BJP) party to a victory that disappointed. While he secured a third term, he lost his majority and will rely on allies to keep himself in power. Meanwhile, the Congress-I Party, which has lost its post-independence allure, failed to unset him, but they are ecstatic that he did so poorly. (5 June)

Farage Standing as Reform Candidate -- Yesterday, the fate of the Conservative Party in the UK took a turn for the worse, if one is a supporter of the Tories. Nigel Farage, the Great Brexiteer, reversed an earlier decision to announce he will be the Reform Party candidate in the Essex constituency of Clacton. Before yesterday, his announced plan was to support Reform candidates while campaigning for Donald Trump in the US. Thursday, a New York court convicted Mr. Trump of 34 felonies. So, Mr. Farage had a change of heart. Numerous sources have denied this is the case, but coincidence like this takes a lot of planning. While Reform may not win many seats, it will eat into the Tory margins, handing many seats to Labour, the LibDems and the nationalists in Wales and Scotland. The losses will be worse than if he had stayed out. [4 June]

© Copyright 2024 The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Ubuntu Linux

 

 

 

 

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