Enter Donald Trump

I voted for Trump on Tuesday. Moving from Bernie to Trump does not seem incongruous because in the issues that matter the most to me, such as trade and foreign policy, Trump is much closer to Bernie’s position than Hillary ever was.

Hillary is the last candidate of the neo-liberal current in the Democratic party. The Democratic neo-libs can also be called Phonies and DINO. Carter was the last president of the FDR/LBJ Democrats. Bill Clinton launched globalization – I remember him talking about the New World Order around 1994. He was the first president after the demise of the USSR and with no more fear of Communism, he served as an agent of the capital elites bent on erasing borders and creating a capitalist global economy. Since Bill Clinton, Bush II and Obama both followed the same path with some distinct touches to remind us of their partisan label and maintain the illusion of two opposing parties; in fact it is the Establishment that governs.

Obamacare is a partisan label. It is a form of ineffective healthcare reform – it lacks a public option and that is a terminal flaw. But the long debate over it served and still serves to remind us that Reps and Dems are somewhat different.

I believe that the last time we had and election where two truly opposite philosophies collided was in November 1979. In less than 40 years since, the American middle and working classes has been harmed tremendously while the extremely wealthy became super extremely wealthy. Notice that Obama was quick in crushing Occupy Wall Street.

The Democratic neo-libs have garnished their push toward globalization with a layer of guilt on the white majority on both the US and Western Europe. They have allowed in millions of non whites to reinforce the idea of the “global village”. European leaders quickly jumped on the globalization bandwagon, following Washington’s lead. UK PM Tony Blair, another neo-lib, once boasted that under his tenure London had become a metropolis where 200 languages were spoken. Destroying national identity and culture by dilution with immigrants from incompatible cultures who do not assimilate serves to eliminate the sense of nationhood. No nation = no tariffs = more profits for the elites.

Merkel has brought into Germany a million Muslims to make Germany less German; not because she cares about Syrians or Afghans. Same goes for Hollande in France, Renzi in Italy, etc.

What will Trump do? We will see. I am certain the Establishment is already at work to tame him.

Advertisements

Egyptian Presidential Election Today, French, Greek Legislative Elections in June – All Critical

The Egyptian candidates, 13 in all, range from islamists to former ministers of the Mubarak regime. The outcome of this election, the first free election in Egyptian history, may have profound consequences in the Middle East. Unfortunately, women have been marginalized in this historic event. Not a single presidential candidate is female. Egyptian women were very active during the revolution which led to the election.

The French will go to the polls to elect a new National Assembly and its composition will be paramount in determining whether President Hollande will be able to carry out his program or instead adopt a more centrist approach.

With the arrival of Hollande, huge differences have surfaced between Germany and France in how to deal with the crisis. Hollande’s call for the creation of the euro-bond has been rejected by Germany, The Netherlands, and Finland.

With the euro bond, the borrowing cost for these 3 nations would increase while others, debt strapped nations, would find borrowing cheaper. The euro bond would homogenize their credit ratings.

All continental members of the EU want to impose a tax on financial transactions which would benefit fiscally in two ways: By generating revenue and by reducing speculation. Only the U.S and Britain oppose the move. But by opposing this tax, and the reduction of speculation, both the U.S. and Britain may be shooting themselves in the foot. If the EU breaks apart, they will feel the pain too. Britain is part of the EU but not of the eurozone.

The Greeks are forming a new government in June and the composition of this government may be the key on whether Greece stays in the euro zone. Further international fiscal support for Greece hinges on whether the new Greek government swallows the bitter pill of austerity reforms. French President Hollande however favors reducing the size of the pill and instituting growth measures simultaneously.

If Greece leaves the euro zone, all bets are off. There is really no precedent in this area so the consequences are difficult to predict. Greece leaving the common currency zone may trigger a contagion effect in both Italy and Spain.

I do not understand why the ECB does not devaluate the euro more to make European-made products more competitive. I believe decisive action in that area should be taken rapidly but it is not happening and the exchange rate is being left to the currency markets where the euro has lost some ground but not enough to really make a difference.

What we all can count on is that all these events will affect us profoundly here in the U.S. The only thing certain is uncertainty.

French Presidential Election Could Affect Ours – La Recette – Video

Presideo – La présidentielle à la sauce CNN.

The French presidential election takes place this summer and its results could influence the fate of the euro zone, the European and world economies including our own, and ultimately the election of the next president of the United States in November 2012.

There is so much at stake in the French election that for the first time in history, we see a German chancellor – Merkel – actively campaigning for a French president – Sarkozy. Bismarck and DeGaulle must be turning in their graves.

By comparison, here in the U.S. we have two onions – republicans and democrats – and one chili pepper – Paul – in onion batter.

For London Youth, Down and Out Is Way of Life – NYTimes.com.

The situation for the American youth mirrors that of Europe except that we are much more honest and open when we talk about the shortcomings and difficulties of everyone else. Blame jingoism and the U.S.A. number 1 thing. But actually the two parties have a vested interest in hiding the crude realities, as we can see here in New Jersey – just one example – with education reform and NCLB; there is a deliberate attempt to ignore the crude realities of poverty, broken families, the lack of the education “culture” – even the mainstream media continues to glorify the drop-outs who made it big while it should be emphasizing that those individuals were the exception to the rule.

The epilogue of this story today is this: New Jersey is lagging in almost every economic parameter with respect to the nation.

Europe: Technocrats Run to the Rescue

Merkozy’s Men: Advisers Seek to Bridge Euro Differences – SPIEGEL ONLINE – News – International.

Europe is running out of time and two unheard-of advisers have teamed their efforts to narrow the differences between the two major partners: France and Germany. As Spiegel notes, the alliance of Merkel and Sarkozy has become so tight that they are dubbed as one: Merkozy.

But some believe that it is Germany that calls the shots:

Dinner for One?

http://www.youtube.com/watch?v=ECjz5Y7Antk

Nonetheless, butlers can be very influential. Just ask Anthony Hopkins.

The two points of view:

The French see an approaching catastrophe, the danger of contagion and the threat of the euro crisis spilling over across the entire euro zone. They see fire and want to call the fire department — in other words, the European Central Bank (ECB) — to put it out and to pump fresh money into the system. They view euro bonds, for which all of the 17 euro-zone states would be jointly liable, as an alternative.

The Germans hold little regard for either idea. Euro bonds would make all states collectively liable for the debts of individual states, and that is not a move Berlin has supported. Likewise, the Germans perceive the danger of the crisis spilling over into other countries as being smaller than the French do. They want to combat the crisis at the root level, and they believe that the euro zone will only win back trust if the countries that are part of it were to stop living beyond their means.

The difference is that while the German economy is still growing, the French is close to zero growth. German-style austerity could push France into a recession.

Thereof the proposed agreement for the suppression of sovereignty that the UK vetoed last month and then became the central piece in a treaty – outside the European Union framework – designed to circumvent the British blockade. London is out to protect The City and its quasi unregulated financial practices.

The latter agreement is now pending acceptance in several European parliaments.

The Two-Speed Europe

There is increased resentment on both sides of the English Channel and in Britain, many are comparing the Franco-German effort to save the euro to the German attempts to conquer the continent in 1914 and 1939, this time by economic means. This cartoon appeared in the British newspaper The Independent. Notice Merkel is at the helm while Sarkozy is the passenger. In its latest act of rejection to Europe, Britain has refused to contribute to the IMF euro-rescue fund and many Brits would like to leave the E.U altogether.

Cameron’s EU Veto Could Bring Down Conservative-Liberal Coalition

BBC News – EU veto: Cameron says he negotiated in ‘good faith’.

British PM David Cameron caved in to the Euro-skeptics and the City (the U.K.’s Wall Street) but his partners in government, the Liberal Democrats, who happen to be pro-Europe, are not happy about the vote in Brussels last Friday. The rift could split the government.

The Laborists are waiting in the wings, taking pot-shots at Cameron who indeed has placed Britain in the most isolated position the country has been since the fall of France in June 1940.

But in 1940, Britain had the empire. There is no empire today.

Without the LD, the conservatives would not have a majority in parliament.

The response of Europe to Cameron’s stubbornness was: “Don’t let the door hit you on the way out.” Without Europe, Britain would lose a great part of its standing in the world.

For the last three decades, British policy has been designed to prevent Franco-German dominance of the continent. But that is exactly what is happening now. And everybody is blaming the PM.

My prediction is that the Cameron government will not last very long in power.

On the other hand, if Germany agrees to the ECB buying more Euro debt, I believe the Euro would sail through calmer waters.

Britain Alone Worst Obstacle To Euro Rescue

‘Cameron Is a Coward’: European Politicians Slam British EU Veto – SPIEGEL ONLINE – News – International.

“We jumped into a rowboat… next to a supertanker” said David Milliband, former U.K. foreign minister under Labor, criticizing the posture taken by the Conservative PM in Brussels today.

Britain vetoed the 27-nation agreement today and the other 26 member nations had to reach an accord outside the framework of the E.U. Effective yes but it is not the same.

At the center of the British dissent is banking. The financial sector is a large portion of the U.K. GDP – larger than in Germany or France – and U.K. banking laws are modeled after their American counterparts, cut-throat and unregulated. The banking sector in continental Europe is more regulated and as long as anybody could do as they pleased, the U.K. would go along. But  the treaty proposed today, and adopted by the other 26, imposes supra-nationals controls which would affect the U.K. financial sector. British banks would be subjected to the stricter Franco-German norms that are the model in Europe.  Thereof the British veto.

But those supranational controls are the only way out of the crisis. Britain, or rather its conservative government, is being incredible selfish and short-sighted. If Europe fails, Britain sinks.

The euro crisis is affecting both the U.S. and China, two major traders with Europe. China just lowered the amount of cash Chinese banks have  to keep liquid to stimulate internal spending, even at the risk of worsening inflation. That is because Chinese manufacturing is slowing down due to a drop of demand abroad.

Many in Europe feel that the U.K. should leave the E.U. altogether and be like the Swiss. That would certainly benefit the euro rescue and the world economy.