Kensington Review

20 August 2018

 

Cogito Ergo Non Serviam

Latest Commentary: 

Greek Bail-Out Sort of Ends -- Today, the Greek financial nightmare is over, in some senses. The nation has completed a three-year eurozone emergency loan program with about 62 billion eurod. All told, the country got 289 billion euros to fix its accounts. Starting now, Greece can borrow in the international financial markets. That means technically the nation is back on track. However, the economy is 25% smaller than it was in 2010, and unemployment is still 19.5% (down from 28% at peak awfulness). Debt-to-GDP is still 180%, and the government must run a 2.2% surplus (before interest payments) until 2060. Greece is still a mess, and some of those who made it so get off scot-free. [August 20]

Trump Strips Ex-CIA Boss Brennan of Security Clearance -- President Donald J. Trump is a petty man of small morals and wisdom. New Yorkers have known this for decades, but the rest of the world received a perfect lesson on Wednesday. Without a hearing or any other review process, the president stripped former CIA boss John Brennan of his security clearance. Mr. Brennan's crime was having been in on the beginning of the investigation into the Trump campaign and administration's conspiracies with Russia. Mr. Trump has added several names to a list of top security professionals who face similar treatment. These are the actions of a man who has no business wielding power.  [August 17]

CBO Says Economic Deceleration Looms -- The Congressional Budget Office has lowered its expectations for the American economy this year. Then, the US growth rate will decline. The new forecast for this year is a 3.1% growth rate, down 0.2% from 3.3%. Next year, the CBO says 2.4% is the best the economy will do, and in 2020, that figure dips further to 1.6% for 202. All th0e while the federal budget deficit and national debt will rise. While the CBO is clear that there is not going to be a recession according to the tea leaves it sees now, a more sluggish economy is almost inevitable[August 15]

Trump Hikes Tariffs on Turkey over Detained Pastor -- The Trump administration has decided to crush the Turkish economy because a US pastor who is a long-time resident of Turkey is facing 35 years in prison on espionage charges. In all likelihood, the charges are nonsense, and the Ergodan government merely wants to clip the wings of evangelical Christians in its territory. The Trump administration, however, is taking a sledgehammer to a raw egg. A quiet approach would have worked much better.  [August 14]

Pro-Trump Congressman's Arrest Creates Local Chaos -- Congressman Chris Collins (R-NY) was the first member of Congress to endorse Donald Trump in his campaign for the White House. Last week, the FBI arrested the congressman for insider trading and related crimes. Even in a gerrymandered district like New York's 27th, it is difficult for a candidate under indictment to prevail in a general election. So, he has suspended his campaign, the local Republicans are looking for a candidate, and no one seems to understand how to get Mr. Collins' name removed from November's ballot in a way that is not damaging to the party's reputation. [August 13]

© Copyright 2018 by 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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