Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Trump’

The Real Reason They Hate Trump

Posted by hkarner - 23. Oktober 2018

Date: 22-10-2018
Source: The Wall Street Journal by David Gelernter

He’s the average American in exaggerated form—blunt, simple, willing to fight, mistrustful of intellectuals.

Every big U.S. election is interesting, but the coming midterms are fascinating for a reason most commentators forget to mention: The Democrats have no issues. The economy is booming and America’s international position is strong. In foreign affairs, the U.S. has remembered in the nick of time what Machiavelli advised princes five centuries ago: Don’t seek to be loved, seek to be feared.

The contrast with the Obama years must be painful for any honest leftist. For future generations, the Kavanaugh fight will stand as a marker of the Democratic Party’s intellectual bankruptcy, the flashing red light on the dashboard that says “Empty.” The left is beaten.

This has happened before, in the 1980s and ’90s and early 2000s, but then the financial crisis arrived to save liberalism from certain destruction. Today leftists pray that Robert Mueller will put on his Superman outfit and save them again.

For now, though, the left’s only issue is “We hate Trump.” This is an instructive hatred, because what the left hates about Donald Trump is precisely what it hates about America. The implications are important, and painful. Den Rest des Beitrags lesen »

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In Win for Trump, Merkel Changes Course on U.S. Gas Imports

Posted by hkarner - 23. Oktober 2018

Date: 22-10-2018
Source: The Wall Street Journal

Chancellor calls her decision to open Germany up to U.S. liquefied natural gas a ‘strategic’ move

German Chancellor Angela Merkel called a decision to co-finance a liquefied natural gas shipping terminal a ‘strategic’ move, according to people familiar with the matter.

BERLIN—Chancellor Angela Merkel has offered government support to efforts to open up Germany to U.S. gas, a key concession to President Trump as he tries to loosen Russia’s grip on Europe’s largest energy market.

Over breakfast this month, the chancellor told a small group of lawmakers her government had decided to co-finance the construction of a €500 million ($576 million) liquefied natural gas shipping terminal in northern Germany, according to people familiar with the meeting, giving a crucial nudge to a project that had failed to get off the ground for years in a country that gets most of its gas cheaply from Russia.

Mr. Trump has intensively lobbied Europe to buy significant amounts of LNG as part of his campaign to rewrite the terms of trade relations. German and U.S. officials said Berlin hoped embracing U.S. gas might help solve a protracted trade dispute and possibly even defuse threats by Washington to sanction Nord Stream 2, an unbuilt German-Russian gas pipeline that would double Russia’s existing gas export capacity to Germany. Den Rest des Beitrags lesen »

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The Powerlessness of the Most Powerful

Posted by hkarner - 22. Oktober 2018

Oct 20, 2018 Javier Solana, Project Syndicate

Javier Solana was EU High Representative for Foreign and Security Policy, Secretary-General of NATO, and Foreign Minister of Spain. He is currently President of the ESADE Center for Global Economy and Geopolitics, Distinguished Fellow at the Brookings Institution, and a member of the World Economic Forum’s Global Agenda Council on Europe.

The president of the leading global power has made it clear that he has no interest in getting involved in resolving any of the world’s shared problems, dressing up his foreign policy as one of „principled realism.“ But there is nothing principled or realistic about it.

MADRID – The annual General Debate of the United Nations General Assembly is one of the most notable events on the international diplomatic calendar. As usual, this year’s meeting, during the last week of September, brought together a long list of world leaders, although perhaps the term “world leader” should no longer be used so lightly. The president of the leading global power has made it clear that he has no interest in getting involved in resolving any of the world’s shared problems. Unfortunately, he is not alone.

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A debate about central-bank independence is overdue

Posted by hkarner - 20. Oktober 2018

Date: 18-10-2018
Source: The Economist

In a low-inflation world, links between governments and monetary policymakers need rethinking

The federal reserve has heard worse. But when the president complains that it has gone “crazy” by tightening monetary policy, as Donald Trump did on October 10th, Americans fret that another norm is about to be overturned. An independent central bank is considered a pillar of a modern economy; presidents are supposed to mutter any criticisms they might have in private. But is that really for the best? Although Mr Trump’s complaints were not intended to start a high-minded debate, one is overdue.

Operational independence for central banks is relatively new. The principle grew out of work in the late 1970s and early 1980s by prominent economists working in the “rational expectations” school of economic thought, among them Finn Kydland and Edward Prescott, who were eventually awarded the Nobel prize. They considered the implications of people’s ability to look into the future and to anticipate the behaviour of self-interested politicians. Den Rest des Beitrags lesen »

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China v America: The end of engagement

Posted by hkarner - 19. Oktober 2018

Date: 18-10-2018
Source: The Economist

How the world’s two superpowers have become rivals

For the past quarter century America’s approach to China has been founded on a belief in convergence. Political and economic integration would not just make China wealthier, they would also make it more liberal, pluralistic and democratic. There were crises, such as a face-off in the Taiwan Strait in 1996 or the downing of a spy-plane in 2001. But America cleaved to the conviction that, with the right incentives, China would eventually join the world order as a “responsible stakeholder”.

Today convergence is dead. America has come to see China as a strategic rival—a malevolent actor and a rule-breaker. The Trump administration accuses it of interfering in America’s culture and politics, of stealing intellectual property and trading unfairly, and of seeking not just leadership in Asia, but also global dominance. It condemns China’s record on human rights at home and an aggressive expansion abroad. This month Mike Pence, the vice-president, warned that China was engaged in a “whole-of-government” offensive. His speech sounded ominously like an early bugle-call in a new cold war. Den Rest des Beitrags lesen »

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Can Eurozone Reform Help Contain Trump?

Posted by hkarner - 15. Oktober 2018

Jochen Andritzky

Jochen Andritzky, a former Secretary-General of the German Council of Economic Experts, is a visiting fellow at Bruegel, a Brussels-based think tank.

The Trump administration knows that a key source of US economic leverage is the dollar’s role as the world’s dominant reserve currency. Countering America’s disproportionate power to destabilize the global economy thus requires reducing the share of international trade conducted in dollars.

BRUSSELS – US President Donald Trump is using economic warfare to pursue his foreign-policy objectives. In August, his administration announced that it would double tariffs on steel and aluminum imports from Turkey, in order to pressure the Turkish authorities to release an American pastor detained for two years on espionage charges. At the beginning of next month, the United States will also ratchet up unilateral sanctions against Iran.

The Trump administration knows that a key source of US economic leverage is the dollar’s role as the world’s dominant reserve currency. Countering America’s disproportionate power to destabilize the global economy thus requires reducing the share of international trade conducted in dollars. Can the euro serve as a credible alternative? Den Rest des Beitrags lesen »

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Analyse this: what Freud can teach us about Trumpism

Posted by hkarner - 14. Oktober 2018

Date: 13-10-2018
Source: The Guardian By Gary Greenberg

As a psychotherapist, here’s what I’ve learned in the two years since Donald Trump moved into the White House.

It will be left to future historians, if there are any, to explain to their contemporaries why a profession came into existence in the 20th century whose well-paid practitioners sat in an office while people otherwise unknown to them talked about their unhappiness, one after the other, for an hour at a time. I have been a therapist for 35 years, and I still don’t really understand it. I don’t speak in delphic tongues or offer holy absolution or perform shamanic hocus pocus; I really don’t do much of anything but sit there, listen and try to tell the truth. Not that it is easy; it is taxing to spend your days immersed in other people’s misery, and whatever is wrong with me that prompted me to do this with my life, and left me able to withstand it, is not improved by the exercise. Still, I am grateful to the marketplace for providing me with such an improbable way to make a living.

I suppose those historians will also note the inexhaustible genius of a political economy that created this marketplace and ensured a robust supply of the pathologies for which renting a rapt audience by the hour was the cure. Still more impressive, in retrospect, will be the imposing professional infrastructure – offices, licences, the monetisable unit of time – for legitimising the listening caste. Den Rest des Beitrags lesen »

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What if Obama Voters Remember How Lousy the Obama Era Was?

Posted by hkarner - 14. Oktober 2018

Date: 13-10-2018
Source: The Wall Street Journal By James Freeman

The left worries that young people and minorities don’t hate Trump enough.

During the Obama administration there was much confident chatter on the left about the “coalition of the ascendant.” This rising population of young people, social liberals and minority voters not only carried Barack Obama to two national victories but was allegedly destined by demography to exert an increasing leftward tug on American politics. The potential problem for leaders of this coalition is that along the way some of their followers may have noticed the results of their policies.

A few warning signs have been appearing lately as the Obama generation makes it way into the workplace and as minority voters seem unwilling to hate President Donald Trump as much as Democratic politicians and the press expect them to do.

“It’s time for some alarm about the midterms,” writes David Leonhardt of the New York Times. “The most recent polls have underscored the real possibility that Republicans will keep control of both the Senate and House. According to Mr. Leonhardt: Den Rest des Beitrags lesen »

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The New and Not Improved NAFTA

Posted by hkarner - 12. Oktober 2018

Jeffrey Frankel, a professor at Harvard University’s Kennedy School of Government, previously served as a member of President Bill Clinton’s Council of Economic Advisers. He is a research associate at the US National Bureau of Economic Research, where he is a member of the Business Cycle Dating Committee, the official US arbiter of recession and recovery.

US President Donald Trump has called the United States-Mexico-Canada Agreement, which succeeds NAFTA, “the single greatest agreement ever signed.“ In reality, it is not as good as the Trans-Pacific Partnership, from which Trump withdrew the US upon taking office, nor is it particularly better than the agreement it replaced.

CAMBRIDGE – US President Donald Trump acts as if he has pulled off a smashing victory by replacing the North American Free Trade Agreement (NAFTA) – supposedly “the worst trade deal ever” – with the new United States-Mexico-Canada Agreement. But the truth is that, while this outcome is better than an end to free trade in North America, the USMCA is no improvement over the status quo.

Of course, this is Trump’s modus operandi: threaten to do something catastrophic, so people are relieved when things get only a little bit worse. That is what he did with North Korea, when he insulted its leader, Kim Jong-un, and threatened to rain down “fire and fury” on the country. Compared to nuclear conflict, his eventual meeting with Kim seemed like a triumph, even though it produced little actual progress. Den Rest des Beitrags lesen »

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The Jungle Grows Back: America and Our Imperiled World

Posted by hkarner - 10. Oktober 2018

Date: 04-10-2018, The Economist
Source: Robert Kagan

We now live in a world:

„Where once people believed that the nation-state was a thing of the past in an increasingly cosmopolitan and interconnected age, we now see nationalism and tribalism reemerging, more than able to hold their own in the brave new world of the Internet.

Meanwhile, a profound and extended crisis of confidence besets the democratic world, even in the birthplace of modern democracy.

Liberal international institutions like the European Union, once considered the vanguard of a postmodern future, are now under assault from without and within.

In America, racial and tribal forces that have always been part of the “subterranean stream” of American history have reemerged to reshape politics and society.

Where thirty years ago the dreams of Enlightenment thinkers going back three centuries seemed to be on the cusp of fulfillment, today a Counter-Enlightenment of surprising potency stirs in Moscow, Budapest, Beijing, Tehran, and Cairo, in parts of Western Europe, and even in the nation that saved liberalism seventy-five years ago. Den Rest des Beitrags lesen »

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