Today’s Campaign Update
(Because The Campaign Never Ends)
Are you ready for some football????? – We may be, but the NFL itself may not. The league’s season opened Thursday night with a snooze-fest 10-3 Green Bay win over da Bears. I don’t have time to go back through the entire major league baseball season, but I’d be willing to bet the Yankees, Astros and Dodgers have all played at least a dozen baseball games this year that ended with higher scores.
Of course, the NFL can’t juice up the ball the way MLB did this season, but still, c’mon, guys – if you want people to stay up late watching the game, there needs to be a game going on. Knowwhatimean?
In the “Are We Supposed to Care About That?” news, the Washington Post reports that Starbucks CEO Howard Schultz announced on Thursday that he won’t be running for president. Ok, so, he’s just like Bill DeBlasio, Amy Klobuchar, Julian Castro and Michael Bennett, then. Good to know.
If you wonder why German Chancellor Angela Merkel hates President Donald Trump, look no further than this article in Reuters: “Recession risks rise for Germany as industrial orders plunge”.
Here’s the first paragraph:
Weaker demand from abroad drove a bigger-than-expected drop in German industrial orders in July, suggesting that struggling manufacturers could tip Europe’s biggest economy into a recession in the third quarter.
Contracts for ‘Made in Germany’ goods fell 2.7% from the previous month in July, data showed on Thursday, driven by a big drop in bookings from non-euro zone countries, the economy ministry said. That undershot a Reuters consensus forecast for a 1.5% drop.
This economic dynamic is a direct result of President Trump’s trade war with China, which is the key to his efforts to reset U.S. global trade. After 74 years of U.S. wealth flowing to the rest of the world as we have stupidly allowed every other nation to place tariffs on our goods without responding in-kind, Mr. Trump’s new trade agreements and retaliatory trade policies are now beginning to bring wealth back into our country.
Germany’s big problem where industrial orders are concerned is that China has been one of the largest purchasers of German goods. But China’s ability to buy those imported goods has been reduced dramatically over the last 18 months, as it has responded to U.S. placement of tariffs on its own exports by devaluing its currency in a doomed-to-fail effort to keep its products price-competitive.
The combination of this devaluation and the slowing of the flow of U.S. dollars into its economy due to the tariffs and many businesses relocating to other countries means that China has less wealth of its own with which to purchase foreign goods. Bad news for Germany and Merkel.
Another excerpt from the Reuters story:
With its sales abroad hit by a worsening trade climate, a global economic slowdown and the increasingly chaotic run-up to Brexit, the bulk of Germany’s growth momentum is now being generated domestically – a dependency that leaves it exposed to any weakening of the jobs market.
So now Germany, which, along with Japan and China, has been one of the major benefactors of U.S. post-World War II largesse since 1945, is suddenly having to try to stand on its own economic feet, by generating growth domestically. Note how the leftist Reuters writer refers to this sudden, forced economic independence as “a dependency.” Globalism is a disease that distorts every facet of our lives, perhaps especially “news” reporting.
As I noted a couple of weeks ago, the post-WWII Marshall Plan was intended to be a temporary measure. It originally called for the U.S. to contribute about $12 billion in aid to help rebuild European economies after the great war came to an end. But then the Truman and subsequent presidential administrations and congresses started to see all sorts of strategic military and political advantages in extending and expanding the outflow of U.S. wealth to other parts of the world, ultimately turning a very limited plan for temporary rebuilding aid into a global social welfare program.
It should surprise no one that countries like Germany came to feel entitled to continue to receive this U.S. welfare into perpetuity. It became like a narcotic to their economic body. It should also come as no surprise that the leaders of these dependent nations resent the U.S. leader who is systematically forcing them to begin to fend for themselves in the world of global trade.
Everything you see happening vis a vis trade with China is simply Donald J. Trump keeping a major promise he repeatedly made throughout his 2016 presidential campaign. Everyone should understand that, once this global economic and trade reset has been completed with a new trade agreement with China, President Trump will next begin to draw down the 79-year-long U.S. military deployments in German, Japan and other parts of the world. Because he repeatedly promised to do that in 2016, too.
This President is unlike any other we have ever seen, mainly because the promises he made during his campaign are promises he has tirelessly worked to keep. There may be some short-term pain related to his trade war with China, but the long-term gain for America once it has resulted in a trade agreement will be enormous.
That is all.
Today’s news moves at a faster pace than ever. Whatfinger.com is my go-to source for keeping up with all the latest events in real time.