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Posts Tagged ‘Trump’

European Threats

Posted by hkarner - 10. Dezember 2018

December 7, 2018

Someone asked recently how many times I had “crossed the pond” to Europe. I really don’t know. Certainly dozens of times. It’s been several times a year for as long as I remember.

That makes me an extremely unusual American. Most of us never visit Europe, except maybe for a rare dream vacation. And that’s okay because our own country is wonderful and has a lifetime of sights to see. But it does affect our perspective on the world. Many of us don’t fully grasp how important Europe is to the US and global economy.

We may soon get a lesson on that. I’ve talked about Italy’s ongoing debt crisis, which is not improving, but Europe has other problems, too. Worse, events are coalescing such that several potential crises—all major on their own—could strike at the same time, and not too long from now. As I’ve been saying for about three years, there is no reason for the US to have a recession on its own. I think events elsewhere will push us into it, and Europe is a really big current risk. I know from my visits to Europe and discussions with friends there, they see all sorts of problems with Trump and particularly his tariffs.

However, another concern is that the various actors in Europe are not playing nice with each other. I tell my European friends the same forces that yielded Trump are coming to a European country near them. In some places, they already have. Den Rest des Beitrags lesen »


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Yes, this is the dumbest American president ever speaking

Posted by hkarner - 9. Dezember 2018

Date: 08-12-2018
Source: The Wall Street Journal
Subject: Tillerson Says President Was Undisciplined; Trump Calls Him ‘Dumb as a Rock’

President Trump reacted on Twitter to ex-aide’s remarks, also calling his former top diplomat ‘lazy as hell’

During his tenure as secretary of state, Rex Tillerson, left, appeared out of step with President Trump.

President Trump and his former secretary of state, Rex Tillerson, exchanged criticism and insults in full public view late this week.

Mr. Tillerson, speaking first in an interview nearly nine months after his firing as secretary of state, attributed his clashes with Mr. Trump during his time in office to differences in style and values, as well as to the president’s frustration with his guidance.

“Part of it was, obviously, we are starkly different in our styles. We did not have a common value system,” Mr. Tillerson told CBS News’ Bob Schieffer on Thursday. He also said Mr. Trump was undisciplined, didn’t read and didn’t like to delve into the details of issues.

Mr. Trump responded in a Twitter message Friday afternoon in which he praised current Secretary of State Mike Pompeo, adding: “His predecessor, Rex Tillerson, didn’t have the mental capacity needed. He was dumb as a rock and I couldn’t get rid of him fast enough. He was lazy as hell. Now it is a whole new ballgame, great spirit at State!” Den Rest des Beitrags lesen »

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Climate Action Trumps Trump

Posted by hkarner - 8. Dezember 2018

Laura Tyson, a former chair of the US President’s Council of Economic Advisers, is a professor at the Haas School of Business at the University of California, Berkeley, and a senior adviser at the Rock Creek Group.

Lenny Mendonca, Chairman of New America, is Senior Partner Emeritus at McKinsey & Company.

President Donald Trump continues to deny the realities of man-made climate change, even in the face of warnings by his own administration that it will impose massive costs on the US. Fortunately, in the absence of federal leadership, businesses, citizens, and state and local governments are taking action on an unprecedented scale.

BERKELEY – Now is not a good time to be a climate-change denier like US President Donald Trump, given all the recent evidence that the atmosphere is warming faster than expected. On the Friday after Thanksgiving, for example, Trump’s own government published a major report warning that unchecked climate change will impose massive economic and human costs on the United States. And that came on the heels of an alarming study by the United Nations Intergovernmental Panel on Climate Change (IPCC) that painted a dire picture of Earth’s near future. Den Rest des Beitrags lesen »

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The US-China trade truce: a time-out or a possible armistice?

Posted by hkarner - 7. Dezember 2018

The US-China trade truce will become a time-out or an armistice pending on China’s response regarding technology policy​

The trade truce between the United States and China, announced after the dinner of the presidents of the two countries in Buenos Aires on Saturday after the G20 meeting, must be assessed in accordance to three different motivations that can be attributed to President Trump as reasons for starting the war. Although special attention has been given to immediate implications of the truce for the global macroeconomic environment and its impact on financial markets, it is important to keep in sight what it will take to become either a short time-out or a step to armistice.

The US-China bilateral trade clash has been a crucial moment in the transition from multilateralism to bilateralism in US foreign relations since the arrival of President Trump to power. Full multilateralism faced great difficulties during the Doha round of trade negotiations, in which complex negotiation processes required unanimity for approval and were vulnerable to blockades set by a few countries. The Obama administration initiated its replacement by plurilateral negotiations, with support from the countries involved, as proposed in the Trans-Pacific Partnership and a possible later agreement with European countries. President Trump buried such an initiative and has argued there are advantages for his country to negotiate on a bilateral basis. Den Rest des Beitrags lesen »

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Postal Service Review Proposes Sweeping Changes Likely to Hit Amazon

Posted by hkarner - 6. Dezember 2018

Date: 05-12-2018
Source: The Wall Street Journal

The report calls for raising prices for many types of commercial package deliveries

Among other things, a Trump administration review of the U.S. Postal Service says package deliveries “have not been priced with profitability in mind.”

WASHINGTON—A Treasury-led task force is proposing that the U.S. Postal Service charge more for certain package deliveries, going after Amazon.com Inc. and other online retailers that President Trump has said benefit at the post office’s expense.

The Postal Service hasn’t priced package deliveries with profitability in mind, according to the task force’s report released Tuesday. It said the agency should be able to charge market-based prices for mail and package items that aren’t deemed essential services. The report, requested by Mr. Trump in April, recommended raising prices for many types of commercial package deliveries, a growing business for the Postal Service.

Mr. Trump has often claimed on Twitter that the Postal Service has given a sweetheart arrangement to Amazon, which he blames for unfairly hurting bricks-and-mortar retailing. Mr. Trump also has clashed with Amazon founder Jeff Bezos over coverage of his administration in the Washington Post, which is owned by Mr. Bezos. Den Rest des Beitrags lesen »

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Trump Team Set to Take Tough Stand in 90-Day Trade Talks With China

Posted by hkarner - 6. Dezember 2018

Date: 05-12-2018
Source: The Wall Street Journal

Bolton, at Journal’s CEO Council event, seeks law to bar imports of goods generated from intellectual property theft

Trump administration officials said they planned to take a tough stand in their 90-day trade negotiations with China or impose further tariffs, as optimism over a truce gave way to uncertainties about how the two sides could find agreement on a wide range of issues.

Having emphasized last weekend the possibilities for a wide-ranging deal, President Trump and other officials switched their focus to issues they want to see addressed and the consequences of not reaching an accord in a time frame that China initially didn’t acknowledge.

Mr. Trump, in a series of tweets Tuesday morning, said he expected to see China start buying more U.S. agricultural exports immediately, which the U.S. said had already been agreed upon in the meeting between Mr. Trump and Chinese President Xi Jinping in Buenos Aires, a commitment Beijing hasn’t commented on.

“When people or countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so,” he said, adding: “I am a tariff man.” He also noted that the U.S.’s 90-day deadline for negotiations began last weekend. Den Rest des Beitrags lesen »

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The US-China trade war is on hold

Posted by hkarner - 4. Dezember 2018

Date: 03-12-2018
Source: The Economist

Donald Trump and Xi Jinping agree a fragile truce at the G20 summit

PERHAPS IT was the dessert of caramel-rolled pancakes, crispy chocolate and fresh cream. Or perhaps President Donald Trump had already decided that, during a working dinner on December 1st, he wanted a deal with President Xi Jinping of China. Whatever it was, after sounds of applause drifted out to assembled journalists, the two announced a “highly successful” negotiation. „This was an amazing and productive meeting with unlimited possibilities for both the United States and China,” said Mr Trump.

A more realistic assessment would be that the meeting produced a truce based on two elements: some murky mercantilism, and a deal to talk about a deal. China will increase its purchase of American farm produce, energy and some industrial goods. In exchange America will delay an escalation in tariffs, from 10% to 25% on $200bn of goods planned for January 1st. That is on hold until March 1st at the earliest. But because the formal talks between the two countries could well fail, this truce is worryingly fragile.

The Chinese commitment to raise purchases of American goods is by an amount “not yet agreed upon, but very substantial”. That is supposed to reduce America’s bilateral trade deficit with China. Requiring the Chinese government to manage import flows is odd given how America’s government complains that China still behaves like a non-market economy. Den Rest des Beitrags lesen »

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Why we stopped trusting elites

Posted by hkarner - 2. Dezember 2018

Date: 01-12-2018
Source: The Guardian By William Davies

The credibility of establishment figures has been demolished by technological change and political upheavals. But it’s too late to turn back the clock.

For hundreds of years, modern societies have depended on something that is so ubiquitous, so ordinary, that we scarcely ever stop to notice it: trust. The fact that millions of people are able to believe the same things about reality is a remarkable achievement, but one that is more fragile than is often recognised.

At times when public institutions – including the media, government departments and professions – command widespread trust, we rarely question how they achieve this. And yet at the heart of successful liberal democracies lies a remarkable collective leap of faith: that when public officials, reporters, experts and politicians share a piece of information, they are presumed to be doing so in an honest fashion.

The notion that public figures and professionals are basically trustworthy has been integral to the health of representative democracies. After all, the very core of liberal democracy is the idea that a small group of people – politicians – can represent millions of others. If this system is to work, there must be a basic modicum of trust that the small group will act on behalf of the much larger one, at least some of the time. As the past decade has made clear, nothing turns voters against liberalism more rapidly than the appearance of corruption: the suspicion, valid or otherwise, that politicians are exploiting their power for their own private interest. Den Rest des Beitrags lesen »

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Trump lässt kein gutes Haar an seinem Notenbankchef

Posted by hkarner - 29. November 2018

US-Präsident Donald Trump teilt schon seit Monaten gegen die Währungshüter aus. „Bisher bin ich mit meiner Wahl von Jay noch nicht mal ein kleines bisschen glücklich“, sagt er jetzt.

Präsident Donald Trump verstärkt den Druck auf die US-Notenbank Fed mit einer neuen Welle von Vorwürfen. In einem Zeitungsinterview bekräftigte er seine Kritik an dem von ihm selbst ins Amt gehievten Fed-Chef Jerome Powell. Trump hält diesem vor, mit Zinserhöhungen der amerikanischen Wirtschaft zu schaden. „Ich mache Deals, und ich erhalte keine Unterstützung der Fed“, sagte der Präsident der „Washington Post“. Die Notenbank mache einen Fehler. Das sage ihm sein Bauchgefühl. „Mein Bauch sagt mir manchmal mehr, als das Gehirn von jedem anderen mir sagen könnte.“

Angesichts der boomenden Wirtschaft erhöht die Fed derzeit schrittweise die Zinsen, um die Inflation in Schach zu halten. Damit will sie ihr Mandat erfüllen, Vollbeschäftigung und stabile Preise zu befördern. Sie untersteht nicht der Regierung. Powell hat angesichts der mehrfachen Attacken Trumps die Unabhängigkeit der Fed unterstrichen. Nach der jüngsten Zinsanhebung Ende September sagte er, bei geldpolitischen Entscheidungen spielten „politische Faktoren oder ähnliches“ keine Rolle. Den Rest des Beitrags lesen »

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Trump schaffte bei Industriejobs Trendwende – doch dann kam GM

Posted by hkarner - 29. November 2018

András Szigetvari, 28. November 2018, 06:00 derstandard.at

Kurze Zeit sah es so aus, als würde Donald Trump seine Wahlversprechen wahrmachen. Jetzt ist alles anders

In Lordstown Ohio wird gerechnet. Ein Arbeitsplatz in der Industrie schafft zwei weitere Jobs in einem anderen Sektor. So lautet die alte Faustregel. In der Kleinstadt mit 3.500 Einwohnern sorgt sie derzeit für Angst und Verunsicherung. General Motors hat zu Wochenbeginn angekündigt, fünf seiner Werke in Nordamerika schließen zu wollen. Betroffen ist auch die Fabrik in Lordstown, wo der Chevrolet Cruze hergestellt wurde. Für die rund 1.500 Arbeitnehmer ist bis spätestens 1. März 2019 Schluss. „Für die Region ist das eine Tragödie, die gerade erst beginnt“, sagt John Russo, ein US-amerikanischer Arbeitsforscher, der aus der Gegend stammt.

Folgen für Zulieferer

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