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Making News: Back on National Radio Talking Global Supply Chains — & More!

13 Wednesday Apr 2022

Posted by Alan Tonelson in Making News

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Big Tech, CBS Eye on the World with John Batchelor, censorship, Elon Musk, freedom of speech, Gordon G. Chang, International Monetary Fund, Making News, manufacturing, social media, supply chains, Twitter, Washington Examiner

I’m pleased to announce that tonight I’m scheduled to be back on the nationally syndicated “CBS Eye on the World with John Batchelor.” Air time for the segment is yet to be determined, but the show is on nightly between 9 PM and 1 AM EST. You can listen live on-line here (among many other stations) as John, co-host Gordon G. Chang, and I explain why reshoring manufacturing supply chains is more importanr than ever – even though the International Monetary Fund doesn’t approve.

Special bonus! CBS apparently will be posting a video version of the interview! And as usual, I’ll post a link to the podcast as soon as one’s available.

In addition, my take on Elon Musk’s decision to stay off the Twitter Board of Directors somehow made the Washington Examiner Monday. Odder still: My fears may well be misplaced because by staying off the Board, Musk would be better positioned to force badly needed changes in the platform’s censorship policies than had he become a Director.

And keep checking in with RealityChek for news of upcoming media appearances and other developments.

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Im-Politic: The Globalist Never Trump Blob Shows its True Colors

06 Sunday Sep 2020

Posted by Alan Tonelson in Im-Politic

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America First, Biden, Blob, Byron York, democracy, election interference, globalism, globalists, Im-Politic, Michael McFaul, Never Trumper, Russia, Senate Intelligence Committee, social media, The American Conservative, The Atlantic, Trump, Twitter, Washington Examiner

If you believed that you’d been wronged on social media because someone had erroneously described your tweet on purpose, wouldn’t you stand by that tweet or post? Apparently not if you’re Michael McFaul. At least not for a while.

And his activity on Twitter in the last few days is worth highlighting because even though you haven’t heard of him, McFaul is a card-carrying member of the bipartisan globalist U.S. foreign policy Blob. A recent tweet of his, moreover, epitomized the views of this group of current bureaucrats, former officials, Mainstream Media journalists, and think tankers that even President Trump’s partial implementation of a fundamentally different foreign policy strategy he calls “America First” poses such a mortal danger to both national and international security that any means justify the end of defeating it.

In addition, McFaul’s reaction to criticism also adds to the thoroughly Orwellian spectacle that’s been staged this last week by these and Never Trumpers in politics in (a) charging (based entirely on anonymous sources) that Mr. Trump has privately expressed contempt for Americans servicemen and women who have risked their lives for their country; (b) claiming that this unsubstantiated report, published Thursday in The Atlantic, proves the President’s contemptible character; and (c) insisting that some or all of the Atlantic piece’s allegations have been confirmed because they’ve been repeated by other anonymous sources to other journalists. (BTW, for all anyone knows – and for all these other journalists know – the sources they’re using may be the same accusers.)

As indicated above, McFaul is not your every day, garden variety tweeter. He’s considered a leading academic authority on Russia who served in the Obama administration for five years, including two as ambassador to Moscow. He’s got nearly 517,000 followers. He also tweets a lot: 85,000 to date! (Almost as much as yours truly!) And if you spend more than thirty seconds on his feed, you’ll see that he really doesn’t like the President or his policies.

Which is his right. It’s also his right to have tweeted the day the Atlantic article came out that “Trump has lost the Intelligence Community. He has lost the State Department. He has lost the military. How can he continue to serve as our Commander in Chief?”

But Washington Examiner political correspondent Byron York was just as entitled to respond on Twitter the following morning (Friday) that “This tweet has disturbing undertones in our democratic system. Trump is commander-in-chief because he was elected president, and he will remain commander-in-chief as long as he is president, for a second term if re-elected.” 

McFaul, not surprisingly was outraged. He tweeted back to York that evening : “Byron, you know DAMN well that I was not advocating a coup! You know damn well that I support democracy 100%, at home and abroad. Of course Americans voters, including 2 million federal workers, determine who the CiC is. I tolerate such nonsense from trolls. But from you? Wow.”

But here’s an even bigger “Wow.” When you clicked on the York cite of the original tweet, Twitter told you it was no longer available. McFaul had deleted it.

The plot sickened yesterday afternoon when McFaul himself evidently recognized how feckless his actions looked. He sent out the following Tweet, which added a sentence to the original: “Trump has lost the Intelligence Community. He has lost the State Department. He has lost the military. How can he continue to serve as our Commander in Chief? Our soldiers, diplomats, and agents deserve better. We deserve better. #Vote.”

Which returns us – and him – to Legitimate Opinion-Land. But McFaul needed prompting, as several of his followers and others had previously asked him why he deleted the original if was so indignant over York’s comments. Moreover, McFaul is hardly inarticulate. Why didn’t he include this qualifier in the original?

Even stranger: In a follow up tweet, McFaul stated “I retweeted with a clarifying sentence. 50,000 + people understood exactly what I meant. But trying to be more precise to the handful who I confused or deliberately distorted my views. But I know @ByronYork personally. There’s NO WAY he could believe that I’d support a coup.” In other words, lots of furious backtracking for a confused or mendacious handful.

Or was it a handful? Shortly before that tweet, McFaul had told his followers “Im deleting this tweet below. It has been misunderstood –whether deliberately or unintentionally — too much. Here is what I meant to say: If you believe Trump has not served our country well as Commander in Chief, vote him out of the job in November. https://twitter.com/McFaul/status/1302071499914842112”

At the same time, McFaul’s clear and ongoing belief in the fundamental illegitimacy of Mr. Trump’s presidency can’t legitimately be questioned. Just late last month, in an on-line op-ed , he wrote that a recent Senate Intelligence Committee report had shown that:

“Far from a hoax, as the president so often claimed, the report reveals how the Trump campaign willingly engaged with Russian operatives implementing the influence effort.”

Even worse, in his eyes,

“[S]ome of the most egregious practices from the 2016 presidential campaign documented by the Senate investigation are repeating themselves in the 2020 presidential campaign. Once again, Putin wants Trump to win and appears to be seeking to undermine the legitimacy of our election. Just like in 2016, Putin has deployed his conventional media, his social media operations and his intelligence assets to pursue these objectives.

“Most shockingly, Trump and his allies have decided to — again — play right along.”

To McFaul’s credit, he at least acknowledged that “China, Iran and Venezuela now in the disinformation game” as well. (For details on China’s massive efforts, see my recent American Conservative article.)

He added that “it will be up to American voters to decide when and how cooperation with foreign actors during a presidential election crosses the line,” but indicated that the main reason was “Because waiting for criminal investigations or more congressional hearings will be too late….”

Most ominously, McFaul continues to maintain that the President has remained loyal to Putin, not once criticizing him in public and often undermining policies from his own administration to contain and deter Putin’s belligerent behavior abroad.”

In contrast, Democratic nominee Joe Biden “has affirmed that his campaign will not use information or accept assistance provided by foreign actors….In addition, Biden has assured Americans that he would retaliate in response to any foreign interference.”

So when McFaul declares that “Trump and Biden’s contrasting positions on Russian interference in American elections are clear. Whether voters care about these differences, however, is not as obvious,” it sounds to me that if the President is reelected, the de-legitimization campaign by McFaul and the rest of the Blob will continue. You don’t have to call that a coup to recognize it’s not democratic politics-as-usual, either.

Im-Politic: More Evidence That Trump Should Really be Trump

31 Monday Aug 2020

Posted by Alan Tonelson in Im-Politic

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2018 elections, African Americans, Democrats, election 2020, establishment Republicans, Im-Politic, Immigration, impeachment, Jacob Blake, Joe Biden, Joseph Simonson, Kamala Harris, Kenosha, law enforcement, Mickey Kaus, Obamacare, Open Borders, police shooting, race relations, regulations, Republican National Committee, Republicans, riots, RNC, Rust Belt, tax cuts, trade policy, Trump, Washington Examiner, white working class

Since the early months of Donald Trump’s presidency, I and many of those who backed his election have been frustrated by his frequent support for and even prioritizing of issues and positions championed by orthodox Republicans and conseratives. After all, there was little reason to believe that he won the Republican nomination, much less the White House, because he was focused laser-like on cutting taxes and regulations or eliminating Obamacare. If that’s what either Republican or overall voters wanted, then you’d think that an orthodox Republican would have wound up running against Democratic nominee Hillary Clinton – and triumphing.

One reason I came up with to explain the early burst of conservative traditionalism from Mr Trump (highlighted by a failed effort at healthcare reform and a successful full court press waged to pass the Tax Cuts and Jobs Act of 2017) was his need to make sure that the establishment wing of his party stayed with him if he faced an impeachment.

His gambit worked, but even though the impeachment threat is gone, I still hear the President talking up the tax cuts and regulation thing way too much for my tastes. So it’s more than a little interesting to have just learned that, at least according to a report last week in the Washington [D.C.] Examiner, I haven’t been alone. (Or, more accurately, I and a handful of nationalist-populist analysts like Mickey Kaus haven’t been alone.) In this article, Examiner correspondent Joseph Simonson contends that some folks connected with the Republican National Committee (RNC) came to the same conclusion in the late summer and early fall of 2018. And just as important – their analysis came just before the GOP suffered major setbacks in that year’s Congressional elections after doubling down on conventional Republicanism.

Among the highlights of the report (whose existence the RNC denies):

>”Voter data from areas such as Kenosha County, Wisconsin, [we’ll return to this astonishing coincidence below] and other exurban communities, the individual said, showed a troubling trend. Although voters there very narrowly backed Trump in 2016, President Barack Obama’s margins were in the double digits in 2008 and 2012.”

>”Unlike members of Trump’s base, who can be trusted to vote for just about any Republican candidate, these voters feel no strong affinity toward the GOP. Moreover, the interests of those who live in communities such as Kenosha differ greatly from those who live in the Philadelphia suburbs in Pennsylvania.

“These Rust Belt voters favor stronger social safety nets and hawkishness on trade, rather than typical GOP orthodoxies such as lower tax rates and an easier regulatory environment for businesses. That is not to say these voters oppose those things, but the rhetorical obsession from GOP donors and members of the party do little to excite one-time Trump voters.”

>“Back in 2018 the general response to the report from others who worked at the RNC, said one individual, was, ‘well, we have socialism’ as an attack against Democrats and boasts about their new digital voter turnout apparatus.’”

>”Steve Bannon, the former aide to the president who was indicted last week on fraud charges, had viewed the same report a year ago and concluded that the upcoming election against Biden looked like a “blow out” in the former vice president’s favor.”

But let’s get back to the Kenosha point – which of course is unusually interesting and important given the race- and police-shooting-related violence that just convulsed the small city recently. It’s also interesting and important because the alleged report’s treatment of racial issues indicates that the authors weren’t completely prescient.

Specifically, they faulted the RNC for wasting time and resources on a  “coalition building” effort aimed at “enlisting the support from black, Hispanic, and Asian voters who make only a marginal difference in the Midwest and [that] can prove potentially damaging if more likely Republicans are neglected.”

Explained one person quoted by Simonson (and possibly one of the authors): “Lots of these people at the RNC are in a state of denial. The base of the GOP are white people, and that gives the party an advantage in national elections. You could not have a voter operation in California whatsoever, and it wouldn’t make any difference, but the RNC does because they don’t want to admit those states are lost forever.” .

Yet even before the eruption of violence in Kenosha (and too many other communities), this analysis overlooked a crucial reality: There was never any reason to assume that, in the Midwest Rust Belt states so crucial to the President’s 2016 victory and yet won so narrowly, that significant portions of the African American vote couldn’t be attracted without alienating the white working class. For both blacks and whites alike in industrial communities have been harmed by the same pre-Trump trade policies strongly supported by his chief November rival Joe Biden and many other Democrats. (For one example of the impact on African Americans, see this post.) Moreover, among the biggest losers from the Open Borders-friendly immigration policies now openly championed, instead of stealthily fostered, by the Democratic Party mainstream, have been African Americans.

It’s not that the President and Republicans had to convince massive numbers of African Americans with these arguments. A few dozen thousand could be more than enough to make a big difference this fall. And there’s some polling data indicating that the strategy was working even before the opening of a Republican convention that featured numerous African American speakers.

Now of course we’re post-the Jacob Blake shooting by Kenosha police and the subsequent rioting and vigilantism. We’re also post-the Biden choice of woman-of-color Kamala Harris as his running mate. Will those developments sink the Trump outreach effort to African Americans and validate the 2018 memo’s arguments?

Certainly the Harris choice doesn’t look like a game-changer. The California Senator, you’ll remember, was decisively rejected by African American voters during the Democratic primaries. I’m less certain about the Kenosha Effect. On the one hand, Mr. Trump has expressed precious little empathy for black victims of police shootings. On the other hand, he has villified the rioting and looting that are destroying the businesses – including African-American-owned – relied on by many urban black neighborhoods in cities that have long stagnated, at best, under Democratic Mayors. And this poll I highlighted a few weeks ago presents significant evidence that most African Americans have no interest in fewer police on the streets where they live.

It’s not hard to imagine a Trump campaign message developing over the next two months that strikes a much better balance. And an early test case looks set for tomorrow with the President’s planned visit to Kenosha. Somewhat harder to imagine is Mr. Trump significantly downplaying issues like tax and regulatory cuts, and ending Obamacare. As for his priorities if he wins reelection? At this point, the evidence is so mixed that I feel clueless. So stay tuned!

(What’s Left of) Our Economy: A New Anti-Trade War Argument Bites the Dust

31 Thursday Oct 2019

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

≈ 1 Comment

Tags

BLS, blue-collar workers, Bruce Yandle, Bureau of Labor Statistics, consumers, George Mason University, inflation-adjusted wages, Mercatus Center, private sector, real wages, tariffs, Trade, trade war, Trump, wages, Washington Examiner, work week, workers, {What's Left of) Our Economy

Bruce Yandle of George Mason University’s Mercatus Center has just added a novel claim to the list of catastrophes allegedly triggered by President Trump’s tariff-centric trade policies. In an October 28 Washington (D.C.) Examiner post, He seems to understand that amid rock-bottom rates of U.S. joblessness, it’s getting ever tougher to contend that the trade wars are killing American employment (though the rate of net job gains has certainly slowed in most sectors since the advent of tariffs on steel and aluminum imports in March, 2018).

So Yandle, a former university business school dean, has come up with another reason for the nation’s workers and aspiring workers to hate the curbs on trade: They’re making Americans work too darned hard for the stuff they like to buy. It’s an intriguing idea with just one fatal flaw: It’s not supported by a shred of evidence. P.S.: It takes about 10 minutes of internet surfing and arithmetic-ing to demolish.

Here’s Yandle’s case:

“[T]he occurrence of high employment in the face of a slowing economy can be the result of putting tariff-made rocks in our own harbors to keep out lower-cost foreign goods. When cheaper goods can no longer be imported, we have to work longer and harder to maintain the same level of consumption.

“Low unemployment is something to celebrate but let’s at least note that there are some people who might (quite reasonably) prefer to work a little less with more leisure time and cheaper cars, clothes, and tools, which are some of the goods that have been hit with tariffs.”

I’m unaware of any instances of workers complaining that, “I’d be able to knock off earlier and clean out Walmart if only for those stupid tariffs,” but what I suppose really doesn’t matter. Nor should what anyone supposes matter – because the federal government keeps statistics both on Americans’ hours on the job and their pay.

The results of my research are below. They show hours worked for various major categories of private sector employees, and the change in their hourly inflation-adjusted wages, over two relevant time periods. The first goes from the first full month of the Trump administration (February, 2017) through the latest data month (this September – tomorrow the Bureau of Labor Statistics (BLS) will release the October numbers), and from the first full month of the administration’s first important tariffs (April, 2018, for the steel and aluminum levies) through September. (Government employees’ wages aren’t monitored by BLS because their pay is set largely via politicians’ decisions, and therefore says little about the economy’s fundamental strengths or weaknesses.)

Total private weekly hours since Trump inauguration: 34.3 to 34.4

Total private weekly hours since 1st (metals) tariffs: 34.5 to 34.4

Total blue-collar weekly hours since Trump inauguration: 33.6 to 33.6

Total blue-collar weekly hours since 1st (metals) tariffs: 33.8 to 33.6

Total manufacturing weekly hours since Trump inauguration: 40.7 to 40.5

Total manufacturing weekly hours since 1st (metals) tariffs: 41.0 to 40.5

Total manufacturing blue-collar weekly hours since Trump inauguration: 41.9 to 41.5

Total manufacturing blue-collar weekly hours since 1st (metals) tariffs: 42.4 to 41.5

Total private real hourly wage since Trump inauguration: +2.53 percent

Total private real hourly wage since 1st (metals) tariffs: +.1.86 percent

Total blue-collar real hourly wage since Trump inauguration: +3.05 percent

Total blue-collar real hourly wage since 1st (metals) tariffs: +2.49 percent

Total manufacturing real hourly wage since Trump inauguration: +0.46 percent

Total manufacturing real hourly wage since 1st (metals) tariffs: +0.83 percent

Total manufacturing blue-collar real hourly wage since Trump inauguration: +2.77 percent

Total manufacturing blue-collar real hourly wage since 1st (metals) tariffs: +1.25 percent

For every category except two, over both time periods, workers’ weekly hours went down, and their real wages went up. That is, their leisure time and the buying power of their pay both have risen. They’ve been working less and been able to purchase more.

The first exception is overall private sector workers. Since Mr. Trump’s administration began, their work week has edged up – a tenth of an hour. Even so, their pay rose faster. So they don’t have much cause to complain about working too hard and enjoying the fruits of their labor less.

The second exception entails the overall blue-collar workforce (called “production and nonsupervisory employees” in BLS-ese). Its work week has stayed the same since the Trump inauguration. At the same time, however, this group experienced the fastest wage increase during this period. And its pay in constant dollars went up even faster after the metals tariffs were imposed – as its workweek dipped.

Moreover, this points to another problem with Yandle’s case:  All four categories of workers saw their workweek fall faster after the tariffs’ imposition than before. And in three of the four (except for manufacturing blue-collar workers) wages rose faster after the tariffs went on as well.

And in case you’re wondering, to create some context, whether American workers recently have been significantly better off in the absence of tariffs and trade wars, the answer is, “Not consistently during the current economic recovery.”

No one’s saying that these results show that the United States is a workers’ paradise, or is becoming one because of the Trump tariffs. But if anyone has a right to be grumpy about the above trends, it’s trade mavens like Yandle, who are pushing fact-free arguments to take the levies down.

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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

GubbmintCheese

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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