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Tag Archives: 2020 elections

Im-Politic: Mayor Pander

29 Wednesday Jan 2020

Posted by Alan Tonelson in Im-Politic

≈ 2 Comments

Tags

2020 elections, African Americans, Democrats, Im-Politic, Pete Buttigieg, race relations, racism

Just as a picture can be worth a thousand words, a simple statement can be worth a thousand (hopefully) clever leads. So I’ll just come right out and say it: A report I just came across about a truly epic effort at pandering by Democratic presidential candidate Pete Buttigieg is the flat-out side-splittingly funniest thing – and unintentionally most degrading spectacle – I have seen in years and possibly decades.

You know Buttigieg. He’s the mayor of South Bend, Indiana whose career has been a model of office-seeker’s credentials harvesting – Harvard degree, Rhodes Scholarship, McKinsey & Co. consulting stint. It’s all been so calculated that it’s almost legit to wonder if being gay and serving a short tour of duty in Afghanistan has been part of the plan.

Not surprisingly, then, “Mayor Pete” has given the nation its best imitation of an obsequious student politician since Animal House’s Greg Marmalard (perhaps best known for dodging Dean Wormer’s question, “What is the worst fraternity on this campus?” with the classically base-covering, “Well that would be hard to say, sir. They’re each outstanding in their own way.”)

Except the brown-nosing that Buttigieg’s been getting best known for is shameless pandering aimed at neutralizing charges that he’s not sufficiently woke on racial issues. He’s apologized for embodying “white privilege.” He’s apologized for insisting that all lives, and not simply black lives, matter. He’s apologized for allegedly underestimating the obstacles faced by students of color. And he’s sought to take the offensive by alleging that many of the nation’s institutions are afflicted with “structural racism.”

Reasonable people can disagree about the appropriateness of these Buttigieg genuflections and positions. But only a complete stick-in-the-mud would deny that Mayor Pete’s June, 2019 effort to relate to the black community was a display of bad-boy worship (I refuse to dignify it even with a faux academic construct like “cultural appropriation”) as unwittingly humiliating and preposterous as it was hilarious.

The specifics? With his image among African Americans already sorely in need of repair, Buttigieg launched an effort at rehabilitation featuring an appearance on a cable TV show with a significant following in the black community. Since I couldn’t possibly improve on this below account of the segment and its aftermath, I’ll simply present it (along with a priceless photo – complete with Book of Mormon-like attire):

“Buttigieg was on the Showtime late night program Desus and Mero recently, appearing in a scene in which he chugs liquor from a bottle wrapped in a brown paper bag on the streets of the Bronx with the two co-hosts.

“‘Oh my goodness, that is good stuff!’ Buttigieg exclaimed upon taking his first swig of the bottled whiskey.

“‘Keep it low in case the cops go by,’” one of the hosts warned. “They be trippin’ at the end of the month, bro.’”

Unfortunately, though, for Mayor Pete, these ingratiation efforts seem to have gone for naught, and as the crucial Iowa Democratic caucuses approach, he’s facing allegations that his top aides essentially treated its few African American and minority campaign staffers like tokens. Maybe it’s time for him to break out a do-rag?

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(What’s Left of) Our Economy: The Trade Wars’ Bite on Manufacturing Jobs Looks Deeper

04 Friday Oct 2019

Posted by Alan Tonelson in (What's Left of) Our Economy

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2020 elections, aluminum, China, Jobs, Labor Department, manufacturing, metals tariffs, metals-using industries, private sector, steel, tariffs, Trade, trade war, wages, {What's Left of) Our Economy

Today’s U.S. jobs report (for September) contained much better news for President Trump and his supporters in terms of the economy’s overall performance than it did in terms of his trade policies. American employment on net rose by a decent 136,000 sequentially last month, and the revisions (which boosted the July and August numbers by a total of 45,000) were especially encouraging.

But payrolls in domestic manufacturing – a sector heavily exposed to trade – shrank month-to-month by 2,000. That decline was the first such dip since March’s 3,000. And despite the big positive revisions in overall employment, manufacturing’s left its modest recent hiring record virtually unchanged.

Worse for the President, manufacturing’s metals-using industries in September continued their worrisome recent transition from employment out-performers for the first half year or so after the first duties on steel and aluminum were levied to employment laggards.

Moreover, although manufacturing employment does face two obstacles having nothing to do with the Mr. Trump’s trade wars – Boeing’s safety woes and the strike that began last month against General Motors – damage from the former isn’t yet evident in the jobs data, and the latter probably began too recently to be showing up in the numbers yet.

The impact of the much broader China tariffs remained as elusive as ever, largely because of the on-again, off-again nature of the President’s policies, along with changes and threatened changes in tariff rates on so many goods. But even if Mr. Trump was a model of consistency on this score, the China levies’ effects would be fiendishly difficult to gauge because manufacturing inputs from China are used so broadly but so unevenly by domestic manufacturers.

By contrast, the trends for the metals-using industries look clear enough. This time, I’ll present not only their employment changes since April, 2018 (the first full month in which the metals levies were in effect) and September, but the same employment changes for an earlier post-tariff period. First, the latest numbers:

                                                   Old thru Aug     New thru Aug      Thru Sept

entire private sector:                  +2.30 percent    +2.31 percent    +2.40 percent

overall manufacturing:              +1.73 percent    +1.73 percent    +1.71 percent

durable goods:                           +2.10 percent    +2.10 percent    +2.05 percent

fabricated metals products:        +1.58 percent   +1.56 percent    +1.36 percent

non-electrical machinery:          +2.19 percent    +2.20 percent   +1.95 percent

automotive vehicles & parts:        0 percent         -0.23 percent    -0.69 percent

household appliances*:               not available     -6.31 percent    not available

aerospace products & parts*:      not available    +8.38 percent    not available

*data are one month behind

The loss of the metals-using sectors’ employment momentum in relative and absolute terms can be easily seen. But the more important comparison is between the above figures and those below, which present these trends for the first 10 months of the metals tariffs.

                                                   Old thru Dec    New thru Dec      Thru Jan

entire private sector:                 +1.37 percent   +1.36 percent   +1.60 percent

overall manufacturing:             +1.45 percent   +1.39 percent   +1.49 percent

durable goods:                          +1.67 percent   +1.72 percent   +1.97 percent

fabricated metals products:      +1.75 percent    +1.57 percent   +1.78 percent

non-electrical machinery:        +2.20 percent    +2.33 percent   +2.57 percent

automotive vehicles & parts:  +0.77 percent     +1.07 percent   +1.15 percent

household appliances*:            not available      -2.21 percent     not available

aerospace products & parts*:   not available     +5.51 percent    not available

*data are one month behind

This table shows that except for the household appliances sector (which has faced a separate, product-specific set of tariffs on large household laundry equipment since February, 2018), and automotive, the metals-using sectors were creating new employment at a considerably faster pace than both the overall private economy and overall manufacturing. And automotive was closing the gap.

Aside from trade, the White House, and everyone seeking the best for the U.S. economy, should also be troubled by the drop in September in the year-on-year manufacturing jobs increase to 117,000. That’s the worst such performance since August, 2017’s 112,000 and less than half the rate of the previous September annual improvement (266,000).

Better news for Trump-ers? Manufacturing job creation during the first 31 months of the Trump presidency is still much better (464,000) than during the last 31 months of former President Barack Obama’s administration (198,000).

Matters look better for the President (and manufacturing workers) on the wages front. Although industry’s pre-inflation hourly pay only inched up on month by 0.07 percent, that result beat the 0.04 percent dip for the overall private sector. (The Labor Department, which tracks the employment and wages figures, doesn’t monitor public sector wages since they’re set largely by politicians’ decisions, not largely by market forces. Therefore, they say almost nothing about the state of the labor market or the economic in general.)

Moreover, this relatively good manufacturing’s wage performance continued a slow relative catch up trend that began this year. Since January, current-dollar private sector pay is up 1.92 percent, versus 2.20 percent for manufacturing workers.

All the same, since the current economic recovery began, in mid-2009, private sector wages have risen by 26.87 percent. Manufacturing’s increase? Only 21.03 percent. And these manufacturing wages rose faster during the last 31 months of the Obama presidency (6.04 percent) than during the first 31 months of the Trump administration (5.53 percent). 

The safest economic conclusion seems to be that manufacturing hiring is hardly in the dumps – as suggested by the latest (also September) soft data from the Institute for Supply Management.  Nor does this looks like a “Tariff-mageddon” is upon us. But manufacturing job creation is also well off 2018’s robust pace, and the more so in major trade-affected industries . And its underlying situation will as more difficult to describe the Boeing and General Motors effects become visible (assuming the auto strike isn’t settled quickly).

But as cautious as that analysis is, the political implications as the 2020 presidential campaign heats up are even murkier. For barring a dramatic change in the manufacturing picture, they’ll depend on voters deciding whether the Trump manufacturing, trade, and overall economic record are good enough.   

Im-Politic: Have We Hit Peak AOC?

23 Monday Sep 2019

Posted by Alan Tonelson in Im-Politic

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2020 elections, Alexandria Ocasio-Cortez, AOC, Bing, Democrats, Google, Im-Politic

Like so many of us, I’ve followed the career of Alexandria Ocasio-Cortez with unusual interest. But lately it seems that I haven’t been reading or hearing as much about her as I had for most of her first months in Congress, when the first-term New York City House Member clearly established herself as one of the nation’s most influential lawmakers, a leader of the Democratic Party, and a social and legacy media superstar.

So I decided to check some data sources to see if my hunch was right, and was flabbergasted to come up with completely contradictory findings. On balance, however, the evidence tilts toward declining public interest. 

My methodology? Examining statistics from the Bing and Google search engines to see whether terms like her “AOC” nickname and “Ocasio-Cortez” have been sought out for more or less frequently since her election in November, 2018.

According to Bing, which permits folks to see the actual worldwide search numbers over various time periods, appetites for information about AOC have been steadily strengthening. Here are the monthly statistics from last November through today for “AOC” searches and for “Ocasio-Cortez” searches:

                                                      “AOC”       “Ocasio-Cortez”      total

Nov. 2018:                                         224K                346K              570K

Dec. 2018:                                         174K                202K              376K

Jan. 2019:                                          307K                342K              649K

Feb. 2019:                                         422K                350K              772K

March 2019:                                      383K                332K             715K

April 2019:                                        381K                298K             679K

May 2019:                                         474K                373K             847K

June 2019:                                         557K                442K             999K

July 2019:                                         791K                 869K          1660K

Aug. 2019:                                        817K                 761K          1578K

Sept 2019:                                        662K                  284K           946K

But the Google findings are very different. Google doesn’t enable calculating actual numbers of searches by month (unless I’m missing something – which is all too possible). Instead, it presents “search interest relative to the highest point on the chart for the given region and time. A value of 100 is the peak popularity for the term.”

For “AOC,” that peak popularity was hit between this past July 14 and July 20 – which matches the Bing findings pretty well. The likely explanation? That was when President Trump sent out his series of tweets urging Ocasio-Cortez and the three other progressive female (and non-white) House members comprising the so-called “Squad” to “go back” to their own countries.

The second highest peak, a reading of 82, came between this past February 24 and March 2 – which finds very confirmation with the Bing results, but only some.

But since late July, according to this measure, the numbers of AOC searches have sunk like a stone. The reading for the six days following July 20 was only 59. During the period after, it fell to 39, and between September 15 and 21, was only 33. The Bing results indicate no such drop-off.

Interestingly, the Google data for “Ocasio-Cortez” point to more overall searches than for “AOC.” But the highest peaks by far (and there were three between 89 and 100 as opposed to only one for “AOC”) came much earlier – between November, 2018 and this past February. The highest score for that peak ”AOC” mid-July Trump tweet period was only 39. The latest “Ocasio-Cortez” figure? Only a six.

I’d be the last one to count out Ocasio-Cortez – if only because she’s so young and for that reason alone, still boasts so much potential for reinvention(s), But with Google a much more popular search engine than Bing, and with an intensifying presidential campaign likely to take even more of the spotlight from her, there’s at least a case to be made that, for the time being, Peak AOC has arrived.

(What’s Left of) Our Economy: The Offshoring Lobby Admits Americans are Standing Tall in the China Trade War

20 Friday Sep 2019

Posted by Alan Tonelson in (What's Left of) Our Economy

≈ 2 Comments

Tags

2020 elections, capex, Charles Koch, China, CNBC.com, consumers, Democrats, inflation, manufacturing, national security, recession, slowdown, Trade, trade war, Trump, Xi JInPing, {What's Left of) Our Economy

Another trade war myth bites the dust! And its demise is especially big news, given that its killers are some of the leading myth-makers.

Specifically, as reported by CNBC,com, top officials of a major lobbying campaign aimed at forcing President Trump to overturn his tariff-heavy trade policies, and in particular, to make nice with China, have openly admitted that the ace-in-the-hole they thought they held turned out to be joker. According to a CNBC posting yesterday, the political network funded partly by billionaire libertarian Charles Koch has concluded that their efforts to restore the pre-Trump, offshoring-happy, U.S. trade policy status quo have failed because it completely misread the American public’s willingness to pay an economic price for combating China’s trade predation.

This news comes on the heels of ongoing evidence that, contrary to widespread predictions from economists, think tank hacks, globalist politicians, and the Mainstream Media reporters who keep taking their cues from all these trade zealots, raging American inflation has not been ignited, business investment has not been paralyzed, domestic manufacturing has not suffered a death blow (though it’s been in a shallow recession for a year), and the economy has not plunged into recession (though growth has slowed).

The advertising-focused Koch drive sought to convince President Trump to back off his strategy of trade pressure by exploiting the selfishness of U.S. consumers in particular and the supposed vulnerabilities of the U.S. political system. The apparent central assumptions (and they’ll be familiar to anyone who’s been following Mainstream Media coverage of trade issues): Affluent, and indeed spoiled, Americans have much less tolerance for economic pain than their long impoverished Chinese counterparts; and China’s dictators will find it much easier to resist any public pressure that did develop than American leaders. Therefore, the Koch operatives reasoned, stoking fears that Mr. Trump’s tariffs would supercharge retail prices in particular and kill jobs by prompting retaliatory Chinese measures and slumping American capital spending would set off a political firestorm that the President would need to extinguish if he hoped to win reelection.

But at a briefing it held in New York City yesterday, a Koch official told reporters that “The argument that, you know, the tariffs are adding a couple thousand dollars to the pickup truck that you’re buying is not persuasive. It doesn’t penetrate with the people that are willing to go along with the argument that you have to punish China.”

Nor did the Koch campaign make this decision lightly. The CNBC.com piece noted that “the network came to this conclusion after conducting weekly focus groups on trade policies.” Also cited in the post was a recent national poll showing that “63% of registered voters believe tariffs will ultimately hurt the United States more than China, but 67% of the electorate is convinced it’s necessary to confront China over its trade practices.”

In other words, the American public is wiser and more farsighted than the U.S-owned businesses that have worked overtime to help strengthen the Chinese economy – including by voluntarily transferring to the Chinese the technology they need to upgrade their mechanisms of repression and modernize their military. And everyday Americans are much smarter than those companies that China has begun victimizing once Beijing concluded they’d outlived their usefulness, but that keep hoping against hope that enough boot-licking will save their corporate skins in the Chinese market. Because the American public evidently understands that U.S. prosperity and national security alike require reversing these China-enabling policies, and that slightly more expensive imports from China are a small price to pay for preserving and achieving these goals.

Ironically, the poll indicates that the Koch campaign (along with similar efforts) has succeeded in one respect: It represents some evidence that Americans believe that their country is more vulnerable to a trade war than China – even though the Chinese economy is much more trade dependent, and even though, as noted above, the United States keeps growing (albeit more slowly), and its overall inflation remains subdued by any reasonable standard.

Maybe that’s why the Koch network says it’s far from giving up, and is considering delivering the same message with different tactics. Two seem especially promising to these Friends of China:

>“putting together a team of almost 100 business leaders to call on the Trump administration and lawmakers to end the trade war with China”; and

>educating “100,000 activists in at least 35 states about the potential negative impact of using tariffs to battle China. Those volunteers will then be expected to start reaching out to their congressional leaders. The network hopes these activists can convince lawmakers on Capitol Hill to stand up against the administration’s current trade policy. The latest phase of the Koch campaign is expected to cost the network millions of dollars.”

Of course, short of a major economic downturn, if the Koch network has already established that the public is rejecting its advertising-carried China fear-mongering, it’s unclear why President Trump would be more responsive to the 100 business leaders than he’s been to date? And why would most Members of Congress not already backing China coddling pay more much attention to the 100,000 activists?

That’s a question that also needs to be asked by some other major actors in the U.S.-China trade war: the majority of current Democratic presidential candidates, who clearly believe that there’s lots of voter China-related trade whining that they can turn into votes, and ultimately into victory over Mr. Trump; and Chinese dictator Xi Jinping himself, who just as clearly believes that if the President is defeated, he’ll be back to dealing with Uncle Sucker on trade – and so many other fronts.

(What’s Left of) Our Economy: Are Soaring Prescription Drug Prices Really a Thing?

08 Monday Jul 2019

Posted by Alan Tonelson in (What's Left of) Our Economy

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2020 elections, Bureau of Labor Statistics, core inflation, Democrats, healthcare, inflation, prescription drugs, Trump, {What's Left of) Our Economy

Prescription drug prices keep skyrocketing outrageously – at least, that’s what’s constantly reported.  And much of the evidence looks especially impressive:  Politicians who normally agree on nothing have vowed to rein them in – including President Trump and Democrats of all stripes, including many of the party’s presidential candidates.

So imagine my surprise when I checked into these claims by examining the consumer price data issued by the U.S. Bureau of Labor Statistics each month. They show that these prices have actually fallen on net since December, 2017 (by 0.43 percent).

Moreover, these figures also show that prescription drug prices have fallen during the past year (through May, by 0.99 percent), and that they’re dropping even though the rate of overall inflation and core inflation (which strips out volatile food and energy prices) has been rising (year-on-year by 1.80 percent and two percent, respectively).

Nor has there been a notable increase in prescription drug prices during this calendar year. From January through May, they’ve risen by 0.16 percent. But that’s still considerably less than the overall inflation rate (0.98 percent) and the core rate (0.51 percent).

That’s not to say that there hasn’t been a prescription drug price problem. For example, from May, 2017 to May, 2018, their prices rose by 3.71 percent – much faster than the overall inflation rate (2.74 percent) and the core (2.22 percent).

Moreover, during the last 27 months of the Obama administration, prescription drug prices increased by 11.14 percent, versus 2.67 percent for overall inflation, and 4.78 percent for core inflation. During the first 27 months of the Trump administration, however, these numbers are 2.07 percent, 4.59 percent, and 4.37 percent.

Americans still pay lofty prices for prescription drugs, and especially compared with consumers in other wealthy countries. It’s also important to point out that drug pricing is complicated. (Here are some of the reasons.) And I confess to having no idea why this pricing has been weak lately, and whether the decline will continue.

But when one of the country’s leading measures of inflation is saying that prescription drug prices have been going down, that should be pretty newsy. Even if “everyone knows” they’re soaring.

Im-Politic: Another Take on the Shutdown/Border Wall Dispute

01 Tuesday Jan 2019

Posted by Alan Tonelson in Im-Politic

≈ 2 Comments

Tags

2018 elections, 2020 elections, border security, border wall, Democrats, government shutdown, Im-Politic, Immigration, Trump

It’s obviously not such a Happy New Year for many federal government employees, with the current partial shutdown continuing and no end immediately in sight. What continues to puzzle me is why the Democrats have taken such a hard line – that is, if their substantive and political beliefs about the Border Wall whose funding is at the heart of the dispute are to be taken seriously.

On substance, the Democrats insist on portraying the Wall as at best a grossly inefficient way to improve border security – and certainly much less effective than the “enhanced fencing, technology, drones, satellites, lighting, sensors, cell phone towers” they insist are “the things the experts have clearly indicated would improve our border security.”

Politically, the Democrats say they’re confident that the Wall is unpopular – as made clear by their new proposal to end the impasse. The plan would fully fund most federal agencies through the upcoming September end of the current fiscal year. But it would only the extend through the middle of next month the current appropriation for the Department of Homeland Security (the lead agency on border security) minus any Wall funding.

Although the Democrats’ plan would include money for “fencing,” their strategy clearly assumes that the public values ending at least this episode of Washington dysfunction much more highly than building President Trump’s Wall. Moreover, most polls seem to bear out this analysis. (See in particular here.)  

But it’s at least arguable that if the Democrats do indeed view the Wall as “a 5th century solution to a 21st century problem”, and a political loser to boot, they should approve Mr. Trump’s full $5 billion request. After all, a Wall that won’t work by definition won’t present significant obstacles to greater flows of migrants with whose plight the Democrats ardently sympathize. They could depict themselves as the champions of compromise and reason who were willing to go the extra mile to work with an extremist president in the interests of restoring at least minimal normality to American public life. And the cost to taxpayers would be meager (in federal budget terms).

The Democrats’ acceptance of the President’s proposal would indeed give Mr. Trump a political victory of sorts by enabling him to proclaim that he’s kept a campaign promise. But this victory would only resonate with his base – which by itself isn’t nearly big enough to reelect him.

In this vein, even better for the Democrats: They’re surely confident that time is on their side. First, even if Wall installation began tomorrow, it couldn’t possibly deliver on its restrictionist promise for many months – or, crucially, by the time presidential campaign 2020 is in full swing. So the Democrats’ would have many months’ worth of opportunities to claim somewhat credibly that the Wall is indeed a failure.

Second, they show every sign of believing that in the 2020 elections they’ll regain the political power they’ll need to scrap this project. That’s undoubtedly why so many in the party have expressed an interest in running for president. And the Democrats’ chances of taking control of the Senate, and thus of the entire Congress, look promising, as well – as they’re defending many fewer seats than the Republicans.

All of which brings up some alternative explanations for the Democrats’ shutdown strategy. For example, maybe they’re (and in particular, their genuinely Open Borders-infatuated leaders) are actually afraid that a Wall (in tandem of course with other security measures) will work, at least once it’s finally in place. Maybe they’re so strongly opposed to more physical barriers because these structures will reduce the numbers of migrants who manage to set foot on American soil, and thereby become eligible to be handled by a loophole-filled immigration law and policy framework that ensures many of them will be released into American society – and ultimately freed to add to pressure in key (Democratic) states for ever wider voting rights.

And maybe they’re not so confident about their 2020 chances either for the White House and in the Senate. Maybe they’re consequently counting on showdowns like that over the Wall to bait the President into still more of the kind of harsh-sounding tweets, and especially threats, that unmistakably turn off many 2016 Trump supporters outside his hard core – and who exhibited buyers’ remorse in last year’s midterms. Ditto for supporters of many of their own midterms victors – centrist politicians who didn’t promise to shut down ICE (the U.S. Immigration and Customs Enforcement Agency), and who appear truly concerned with border security.

Maybe the Democrats are simply playing for time and hoping that a prolonged shutdown and./or devastating findings from Special Counsel Robert Mueller’s investigation will combine to destroy Mr. Trump’s reelection chances whatever chaos emerges at the Border from a continuing failure to enhance security – and even after the government is reopened. And maybe it’s some combination of the above (since a single cause rarely explains major political, social, cultural, or historical developments).

None of these possibilities mean that the Democrats’ shutdown strategy per se will fail. Indeed, the President has already cut his funding request significantly, and shown flexibility on the ludicrously crucial phrasing (“wall,” “fence,” “barrier”) aspects of the issue. But I wouldn’t be the least bit surprised if, because of the above analysis, and particularly of an even greater migrant flood it might bring, a resulting Democratic victory turned out to be Pyrrhic.

Im-Politic: New Evidence that Trump-Russia is a Voter Nothing-Burger

21 Tuesday Aug 2018

Posted by Alan Tonelson in Im-Politic

≈ 2 Comments

Tags

2016 elections, 2020 elections, collusion, foreign policy, Gallup, Im-Politic, midterm elections, polls, public opinion, Russia, Trump, Trump-Russia

I know that it’s only one poll, and that poll results can be pretty dodgy. (See “2016 U.S. Presidential Election.”) But the results of a new Gallup survey on Americans’ views towards U.S.-Russia relations seem well worth spotlighting anyway, especially given the continuing unrelenting headlines being generated by the alleged Trump-Russia scandals, by all the evidence of Russian meddling in American politics, and various investigations of the above.

Gallup asked respondents whether it’s “more important to improve relations with Russia” or “more important to take strong diplomatic and economic steps against Russia.” And by a healthy 58 percent to 36 percent margin, the “improve relations” option won out. Just as striking is that a hard line against Moscow is strongly opposed even though 75 percent of the public believes that Russia interfered in the last presidential election, and 39 percent believes that such activities “changed the outcome.”

As predictable these days, these views are sharply divided along partisan lines. But what’s less predictable is that the Democrats come across as the most intense partisans by far. To be sure, their support for a “hard” vs a “soft” line toward Russia wasn’t overwhelming – 51 percent for the former, 45 percent for the latter. But it contrasted sharply not only with the opinion of Republicans (who favored a softer line by a lopsided 74 percent to 22 percent margin). Democrats’ views also differed significantly from those of independents (who favored a softer line by 55 percent to 37 percent).

And this Gallup survey makes it tough to blame supposed public apathy or ignorance for these findings. Specifically, two-thirds of respondents told Gallup they were following news about Russia and the 2016 election “closely” and 33 percent reported following such developments “very closely.” Gallup contends that this level of attention is “slightly above” the norm for their news attentiveness results going back to 1991.

Moreover, Gallup reports that the more closely its sample members followed the story, the likelier they were to believe that Russia interfered and that its interference mattered. Indeed, ninety percent of the true newshounds accepted the meddling claims. But only 51 percent of this highly attentive group believed that the alleged Russian operations changed the outcome. And those respondents who were following such news only somewhat closely split nearly evenly on the matter (with 42 percent agreeing that the meddling affected the outcome and 40 percent disagreeing)

The same pattern was evident when it came to views on Russia relations options. Of those Americans following these stories very closely, a majority favored the harder line. But the margin was only 53 percent to 42 percent. The results for Americans following the Russia coverage only somewhat closely was the reverse – and then some. Only thirty-seven percent backed the hard line while fully 59 percent opposed it.

When combined with other Gallup findings that, through June, the constellation of Trump-Russia issues wasn’t even moving the needle in terms of Americans’ rankings of their top concerns, this new survey indicates that, unless a genuine smoking gun is uncovered, Democrats would be best advised to stress other anti-Trump messages in their campaigns this year to regain control of Congress. For if voters were strongly responsive, wouldn’t they be demanding that their leaders make Russia pay dearly for an attack on their democracy? At the same time, since voter turnout in mid-term elections is typically very low, hammering away at Russia and impeachment etc could possibly bring to the polls more “resistance” true believers and swing some close races.

The implications for the next presidential race – again, barring a smoking fun – seem clearer: In such a generally higher turnout race, voters are likely to be paying much more attention to the standard array of pocketbook and cultural issues (along with foreign policy, if crises break out) than to whatever’s left of the Trump-Russia controversy.

Im-Politic: You Bet Oprah Could Win

11 Thursday Jan 2018

Posted by Alan Tonelson in Im-Politic

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Tags

2016 elections, 2018 elections, 2020 elections, Bernie Sanders, Democrats, economy, Elizabeth Warren, Im-Politic, independents, Joe Biden, Oprah Winfrey, politics, Republicans, Trump

Here’s a confession: I’ve never watched “Oprah.”

Still, since I’ve been in a waking state for much of the last few decades, I’m of course aware of the prominence she’s achieved in American culture and society, and the high regard in which so many hold her. That’s why I take absolutely seriously the idea that Oprah Winfrey could win the Democratic presidential nomination in 2020, and even take the White House.

One suggestive data point is already out. In a new poll, she tops President Trump by an impressive ten percentage points as a presidential choice. And as many observers have pointed out, unless the field of likely Democratic White House hopefuls changes markedly in the next two or so years (and we’re of course still awfully early in the presidential cycle, so don’t rule out that possibility by any means), Winfrey would face unusually flawed opponents.

Indeed, at this point, the leading Democratic contenders look to be Vermont Senator Bernie Sanders, Massachusetts Senator Elizabeth Warren, and former Vice President Joe Biden. Whatever you think of them as individuals either personally or politically, all three are septuagenarians, and two look to be well to the Left of a critical mass of American voters. And underscoring their vulnerability is how enthusiastically so many Democrats and progressives have reacted to the idea of “Oprah 2020.”

More reasons for optimism about a Winfrey White House run:

>She’s rich as Croesus and would have no trouble raising outside money.

>She has ocean-wide name recognition.

>She has made a career largely on her matchless ability to “feel the pain” of Main Street Americans (a skill that former President Bill Clinton so effectively conveyed).

>Mr. Trump has already broken through the celebrity “glass ceiling.”

>Similarly, she shows no evidence of being a whiz on policy issues, but no one associated such expertise with candidate Trump, either. And plenty of veteran Democratic- and liberal leaning academics and other specialists would no doubt flock to her cause and give her all the tutoring she needs for a campaign.

>Like the president, she can boast real business success.

Obviously, Winfrey would face important obstacles. I wouldn’t include race or gender on that list. It seems clear to me she’s transcended both categories. But her background isn’t completely scandal-free – as this article makes clear. In this vein, she could well be hurt from the inevitable gushing her candidacy will draw from a Hollywood/celebrity class that much of the public finds completely off-putting.

Perhaps most important, once Winfrey throws her hat in the ring, the halo currently surrounding her will surely fall off, and she’ll start looking more like a conventional politician. Certainly, even though the Mainstream Media will be favorably disposed to her (as they have been to any Trump opponent), she’ll still be under a much harsher spotlight than she has been so far.

Even so, there’s one advantage she’ll have in a 2020 campaign that I believe will be especially important in putting her over the top. And I feel pretty confident about this view even if Mr. Trump enjoys major traditional tailwinds like an economy that keeps performing reasonably well (at least by the standard indicators that attract all the media attention) and U.S. avoidance of military involvement in foreign crises that generate lots of casualties and costs.

Let’s call this advantage “Trump fatigue syndrome.” It’s entirely possible that Americans could enjoy the kinds of safety and prosperity that have often won presidents second terms, and still yearn for a return to normality in their politics and public life – or at least greater normality.

On the one hand, I agree with those (including many Democrats) who insist that the typical voter is much less interested in the “Russia-gate” charges and the other scandals with which the president has been charged than with their personal financial and economic conditions, and their sense of security.

On the other hand, though, I’m confident that those charges, their endless repetition in the media, and the President’s consistently harsh reactions to them and to any and all criticisms, are generating a wearying effect – and starting to erode the broad voter anger that contributed so much to Mr. Trump’s 2016 victory. In other words, outrage can be exhausting even for a die-hard Trump-er, and I expect Trump fatigue to spread as long as the current level of political warfare continues.

Indeed, the recent Alabama U.S. Senate and Virginia gubernatorial elections – won by moderate, soft-spoken Democrats amid an improving economy – indicate that precisely this syndrome is becoming established among relatively well-to-do suburban voters who supported the President in the general election. The persistence of Mr. Trump’s weak national poll ratings during at least decent economic times is another sign that many of his Republican, conservative, and independent backers are tiring of his act.

I also expect that the Democrats and the President’s other opponents know this, and will ensure that the various investigations underway into the actions of Mr. Trump and his family, aides, and other associates continue as long as possible. Trump foes in the media, political, and entertainment worlds are likely to keep baiting him with social media and other attacks for the same reason. The only risk they would run (and it’s not negligible):  At some point, the public could well demand that they “put up” (with some specific evidence of major Trump wrongdoing) or “shut up.”     

Even so, unless opposition research, or simply the campaign grind, destroys her aura of empathy and moderation and good sense, who better to cure Trump fatigue, at least by promising to restore some peace and quiet and dignity to the White House, than Winfrey?

Strangely, though, my case for Oprah 2020 also indicates that a major turn for the worse in America’s fortunes could greatly reduce her odds of winning the White House. Despite her impressive business career, I’m by no means convinced that many voters would regard Winfrey as an effective recession fighter. It seems even less plausible that she’d be seen as a promising commander-in-chief type if the world starts appearing a lot more dangerous. (Nor does that judgment reflect gender considerations. Unless you think many voters doubted 2016 Democratic presidential candidate Hillary Clinton’s national security experience or toughness?) Even more important, a worsening economy and a more menacing world would appear a great formula for reigniting American political anger – which Winfrey would struggle to mollify.

And don’t forget the biggest threat to a Winfrey candidacy (though it seems to me unlikely at present):  Mr. Trump is removed from office, and in the process eliminate the shine from the ideas of celebrity candidacies and presidencies. 

But however strongly I feel that, barring a Trump exit, Winfrey could be taking the oath of office in Washington, D.C. on January 20, 2021, I’m less sure about two other big questions: Will she start to play a political role on behalf of Democrats in this year’s off-year elections? And will she be able to encourage enough additional Trump fatigue to affect the outcome notably?

(What’s Left of) Our Economy: Why Trump’s China Trade Deal is Fatally Flawed

15 Monday May 2017

Posted by Alan Tonelson in Uncategorized

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2018 elections, 2020 elections, biotechnology, China, exports, financial services, GMO products, imports, mercantilism, non-tariff barriers, protectionism, tariffs, Trade, Trump, Wilbur Ross, {What's Left of) Our Economy

If you (like me) haven’t been happy with America’s China trade policy for the last few decades, here’s the sunniest spin you can put on President Trump’s new trade deal with the People’s Republic: Most of the 100 days set by Washington and Beijing for reaching an agreement to resolve major bilateral issues still haven’t passed. So the two governments – and especially the American demandeur – still have ample time in theory to meet their own proclaimed standard for success.

At the same time, there’s evidence that, despite having won the White House in part on promises to stop China’s “rape” of the U.S. economy and its workers, Mr. Trump is ready to give the Chinese a lot more time to produce genuinely boast-worthy results. Principally, Commerce Secretary Wilbur Ross, the American point man for implementing the 100-day plan, told Fox Business News yesterday:

“The strategy here was to get a few quick kills; a few tangible, deliverable items that could be done quickly—make sure that there was actual performance on them … assuming that those are delivered, then we’ll go into a one-year program of negotiations. If that produces more deliverables, we’ll go into a longer-term period of negotiations.”

More indications from Ross that the agreement dealt with only the tip of the iceberg of U.S.-China trade issues: “[T]his addresses 10 items. There are probably 500 items that you could potentially discuss; maybe more than 500.”

And don’t forget the quid pro quo created by President Trump with China between trade and North Korea-related issues. As I’ve written, his decision to promise China a “far better” trade deal with the United States “if they solve the North Korean problem” could let Beijing string the United States along on trade for months with fake promises of imminent progress with Pyongyang.

The specifics of the new agreement have been analyzed in detail, so there’s no point duplicating these exercises. Ditto for the lack of penalties for non-compliance, or even enforcement mechanisms. But it is worth noting how many of the provisions are “soft” – i.e., leaving China literally square miles of wiggle room to keep blocking American exports with no reason to fear any consequences.

For instance, in biotechnology (including genetically modified grains and other crops), Beijing is merely obliged to conduct “science-based evaluations” of U.S. products seeking entry into the Chinese market, and from now on operate its safety certification system more expeditiously and more.

China has agreed to “allow wholly foreign-owned financial services firms” provide credit-rating services in the People’s Republic by July 16, but they will still need to satisfy a “licensing process for credit investigation” whose standards apparently need to meet no specific criteria whatever.

All that was won by electronic payment services was a Chinese commitment to “issue any necessary further guidelines” – again, unspecified – by July 16 and to permit U.S. firms to “begin the licensing process.” The stated aim is to provide these finance companies with “full and prompt” market access, but the agreement contains no means of judging how success will be judged.

More fundamentally, however, the Trump administration’s China agreement suffers exactly the same fatal flaw as those reached by its predecessors: It rests on the assumption that the markets of determinedly mercantile countries can be genuinely opened with skillfully enough worded documents. Sadly, nothing in the history of American trade diplomacy can justify such optimism about conventional trade diplomacy.

After all, these economies understandably view their protectionist approaches as successes and see no need for significant change. The most important trade barriers they maintain are non-tariff barriers that are developed and put into effect by powerful, highly secretive bureaucracies that make identifying these practices – much less litigating against them – excruciatingly difficult. Largely as a result, protectionist systems have grown quite adept at agreeing to dismantle various barriers while generating the same results with new mercantile practices.

Think of it this way: Any economy that, as Ross indicated, could still be presenting more than 500 market access problems to foreign competitors after decades of market-opening promises is clearly an economy that’s been thoroughly exposed to the case for much freer trade – and that has emphatically rejected it.

As Adam Smith recognized, a country can hope to penetrate such rivals by threatening to impose its own barriers to the protectionist country’s exports or actually erecting them. And Mr. Trump has repeatedly expressed his willingness to head down this road both as candidate and as president. Perhaps he believes that the Chinese have taken these statements to heart, and that the 100-day exercise – and whatever other talks might be necessary – will simply iron out the details.

But if so, genuine negotiations – in the sense of give and take – shouldn’t even be necessary to begin with. China should have been informed that it’s time to explain how it’s going to import more American goods and services, how many more it will buy, and by when. Team Trump should have also let the Chinese know that it will be judge, jury, and court of appeals in terms of disputes and verification, and that stiff, escalating tariffs on Chinese products will be applied until deadlines are met and targets are reached – for an extended period of time. The same approach should be used for other predatory Chinese practices that disadvantage U.S.-based producers.

For assuming Mr. Trump wants to keep control of Congress, and avoid lame-duck status, he faces some China and trade-related deadlines of his own that are approaching faster than he may realize. They’re called the 2018 and 2020 elections.

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Current Thoughts on Trade

Terence P. Stewart

Protecting U.S. Workers

Marc to Market

So Much Nonsense Out There, So Little Time....

Alastair Winter

Chief Economist at Daniel Stewart & Co - Trying to make sense of Global Markets, Macroeconomics & Politics

Smaulgld

Real Estate + Economics + Gold + Silver

Reclaim the American Dream

So Much Nonsense Out There, So Little Time....

Mickey Kaus

Kausfiles

David Stockman's Contra Corner

Washington Decoded

So Much Nonsense Out There, So Little Time....

Upon Closer inspection

Keep America At Work

Sober Look

So Much Nonsense Out There, So Little Time....

Credit Writedowns

Finance, Economics and Markets

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So Much Nonsense Out There, So Little Time....

VoxEU.org: Recent Articles

So Much Nonsense Out There, So Little Time....

Michael Pettis' CHINA FINANCIAL MARKETS

RSS

So Much Nonsense Out There, So Little Time....

George Magnus

So Much Nonsense Out There, So Little Time....

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