Tuesday, 15 November 2016

Things people say about Trump's victory

Conrad Black quoted Will Rahn of CBS blogging on “the unbearable smugness” of the media, including himself:

“We were all tacitly or explicitly #With Her.… Had Hillary Clinton won, there’d be a winking ‘we did it’ feeling in the press — we were brave and saved the republic.… Trump knew what he was doing when he invited his crowds to jeer and hiss reporters covering him. They hate us. And can you blame them? Journalists love mocking Trump supporters.… We diagnose them as racists in the way Dark Age clerics confused medical problems with demonic possession. Journalists at our worst, see ourselves as a priestly caste, we believe we have access to a greater truth.” 

Lord Black went on:

"Even Rahn’s mother, the saintly Peggy Noonan, while saluting Trump’s victory and acknowledging the general failure to appreciate the depths of public anger, called upon the country to “help him” because he doesn’t know how to be president. As long as the president does not seriously violate the Constitution, the presidency fits its occupant, not the other way round. George VI stammered something to president Franklin D. Roosevelt when he visited in 1939, and said, “This Goddam stutter!” and Roosevelt said, “What stutter? You are the King and you speak as you speak. I could say ‘this Goddam polio,’ but our peoples support us because we hold our positions legitimately and do our jobs adequately, and having shortcomings themselves, aren’t overly concerned with ours.”
I don't believe the old King ever knew or used the word 'Goddam'. He did say (to W H Auden): Abroad is bloody.

Robin Lustig
The things you have to do as President: Obama has shaken hands with the man who was endorsed by the KKK.

Mr. Obama shook the hand of Senator Robert Byrd (Dem.), who was a former member of the KKK, as was Harry Truman (Dem.). Obama shook Raul Castro's and Hugo Chavez's hands, but shaking the hand of someone who, not by his wish, was endorsed by the KKK! That must have been an ordeal.

Incidentally, Obama was endorsed by the American Communist Party in 2008 and 2012.

Not meaning to boast, but I shook hands with the King of Romania, who shook hands with Hitler.

Robin Lustig, late of the BBC World Service, wanted us last year to invite hundreds of thousands of migrants to the UK and have them build homes for themselves over the golf courses of Great Britain. He, I am sure, considers himself an environmentalist and humanitarian. He certainly never thinks that he might be an extremist.

I agree with this by Edward Lucas, who beat me in University Challenge when we were both very young.
"On most issues — security, trade, climate change — Donald Trump has nothing in common with the people who run the other advanced industrialised countries."

Is America still the leader of the free world?

[My answer: So long as it has free speech, unlike Europe, yes.]

Robert De Niro on Donald Trump’s win: ‘I feel like I did after 9/11’

Just to recap:
-Suggesting that 9/11 was an inside job is disrespectful to the people who died that day and their families.
-Trump getting elected is just as bad as 9/11 because something something Hitler.

Tim Stanley: 

Farage and Trump grasp that the world changed long ago and it’s only now that politics is catching up. The West has been through the Iraq War, mass migration, the decline of manufacturing and the credit crunch. Its leaders, like Cameron and Clinton, offered liberal solutions spun with soundbites. They were metropolitan, unreal. Trump and Farage, by contrast, are authentic manifestations of national character. Trump is what you’d get if you gave an American truck driver a billion dollars – he’d paint his house gold. Supporters cheer as Trump speaks during a campaign event in and hang his name on it. Farage is the English bloke down the pub. His answers to the world’s problems arise, like Trump’s, less from rigid ideology than from experience and common sense.The countries they want to build – just like Marine Le Pen in France or Geert Wilders in the Netherlands – are self-governing, monocultural, nostalgic.

Charles Glasser
An interesting observation for me is the "well educated" liberals whining about the "dumb fucks" getting flirtatiously close to endorsing literacy tests for voting rights. "If you don't read The New Yorker you can't vote. Then we'll win for sure." Sneering at people who work with their hands or actually "make" things is why she lost. They. Just. Don't. Get. It.

“If Le Pen wins in France next year, these would be the five leaders in control of the UN Security Council...”

Jeffrey Ketland
The POTUS Election 216, in four words:
Identity politics. Therefore, Trump.

Paul Krugman:

..does it make sense on a personal level to keep struggling after this kind of blow? Why not give up on trying to save the world, and just look out for yourself and those close to you? Quietism does have its appeal. Admission: I spent a lot of today listening to music, working out, reading a novel, basically taking a vacation in my head. You can’t help feeling tired and frustrated after this kind of setback.
But eventually one has to go back to standing for what you believe in. It’s going to be a much harder, longer road than I imagined, and maybe it ends in irreversible defeat, if nothing else from runaway climate change. But I couldn’t live with myself if I just gave up. And I hope others will feel the same.

And, finally, some wisdom from Dr. Kissinger (click here), delivered in that impenetrable accent that I'd forgotten about, but which was so very familiar when I was in short trousers.


  1. Words of wisdom from Kissinger missed out of this blog - what were they??

  2. Those who missed the signs of Trump’s likely victory did so because they also largely missed what has been going on with the nation’s culture, politics, and economy for years—especially since the 2008 financial and ensuing economic crisis. Trump’s victory, like the 2008 financial disaster that helped precipitate it, wasn’t unforeseeable, for those who knew where to look.

    Nicole Gelinas


  3. The FANGs saw it coming

    The so-called FANGs are Facebook, Amazon, Netflix and Google-parent Alphabet. These mega-cap tech stocks fell shortly before the election and tanked harder afterwards amid concern that there would be greater regulation under Trump's administration.

    "By the action of the FANGs, the market was predicting a Trump win," Gundlach said. "

    DoubleLine Funds founder Jeff Gundlach said Donald Trump won the presidential election because many Americans felt the economy left them behind.

    He was one of the few market strategists who correctly predicted — before the primaries — that Trump would win.

    Jeffrey Edward Gundlach is the founder of DoubleLine Capital LP, an investment firm. He was formerly the head of the $9.3 billion TCW Total Return Bond Fund.



  4. Mario Gabelli on election results

    On November 8, Americans voted to elect Donald Trump as their next president. The news triggered a stock market rally with the Dow Jones Industrial Average (DIA) closing up 1.2% and the Nasdaq Composite (QQQ) up 1.1% on November 9. Industrials (XLI) were up 2.5%, while financials (XLF) closed higher by 4.3%.

    At 2:30 AM, though, when the news came out, markets were down. In Gabelli’s opinion, this was a result of Europeans and non-Americans who weren’t comfortable with a Donald Trump victory. But then as the day progressed, financial and the infrastructure stocks went up and provided support to the market.

    Gabelli is among those that had predicted a Trump win. At Barron’s investor conference earlier in the year, Gabelli expressed his view that Donald Trump would become the next US president.

    Gabelli believes that uncertainty is behind us and that the economy can now move forward with innovation and risk taking.

    Mario Gabelli, GAMCO Investors’ chair and CEO, manages over $37.5 billion in assets

  5. And now my favorite:

    As Donald Trump celebrated his surprise election win over Hillary Clinton and equity futures swooned in response, billionaire investor and Trump supporter Carl Icahn headed home to start trading.
    Icahn, 80, left President-elect Trump’s victory party in the early hours of the morning to bet about $1 billion on U.S. equities, he said Wednesday in a telephone interview on Bloomberg TV.
    “I would have tried to put a lot more to work, but I couldn’t put more than about $1 billion to work, and then the market got away. But I’m still happy about it,’’ Icahn said. “

    Billionaire investor has endorsed Trump since September 2015


  6. The bipartisan system, as you know, has existed, in its present form, since the mid 19th century. I do believe that what we saw last week, was a revolutionary act. Obviously, I am not naive. There is much that is left to see. However, President Trump's highly unlikely victory was truly an act of the people. The establishment took one on the chin last Tuesday. We'll see how much draining he can actually do.

  7. MENAFN - Asia Times

    The surge in industrial and raw materials stock prices and the collapse of bond markets since Donald Trump's election victory portend a very different kind of world economy. Rather than persisting in a world of quantitative easing, with extremely low interest rates and 1%-2% growth, the United States has the potential to get back onto a normal recovery track.

    How much can it grow? The US economy is 10% smaller than it would have been under a 'normal' economic recovery since 2008, and if it can regain half the lost ground, that's an additional 5% of GDP. The global rally in capital equipment stocks reflects America's need for capital goods imports to gear up.

    Beijing does not expect a trade war with the United States; Trump is viewed by China as a pragmatic businessman, perhaps a tough negotiator, but a man whose object is to get a deal rather than to make ideological points.

    The US dollar rallied and emerging market currencies fell sharply. That's because emerging markets doubled their foreign currency debt since 2008, taking advantage of a low growth environment to fund at very low interest rates. Now that higher economic returns will be available in the United States, there's no reason to own the kind of instruments that were so popular under the low-rate, low-growth environment of the past eight years.

    Italian and to a lesser extent French government bonds fell sharply. Partly that reflects the generalized shift out of financial instruments that offered a modest income in the previous environment (including emerging market bonds, real estate investment trusts, and so forth). But it also reflects the prospect of political breakdown in continental Europe.

    Trump's campaign CEO Stephen Bannon was quotedn news reports Sunday morning praising the National Front opposition candidate Marine le Pen. With support for the governing French socialists in single digits, next May's French elections are unpredictable, and a National Front victory can't be excluded. Germany's elections in September/October 2017 are also subject to significant uncertainty. Italy will have a constitutional referendum on December 4, which the government likely will lose, leaving a lame-duck administration in place until new elections in 2017.

    Europe is looking dodgier as an economic and political proposition.

    It is noteworthy that the British pound has been the only major currency to rise after the US election. In part, that reflects the affinity of Britain's post-Brexit government to the incoming Trump Administration; in part the judgement that the GBP is now a less risky currency than the EUR.
    A major US defense buildup would benefit British defense industries as well. And in retrospective wisdom of the UK in distancing itself from the mess that the European Union has now become a perceived plus.


  8. A new dawn in the Middle East

    President-elect Donald Trump's statements on Israel so far are a breath of fresh air. The message coming out of his emerging administration, on the Middle East and on Israel in particular, is that the 45th president will not feel constrained by an overarching regional policy when he has to deal with Israel.

    Trump views the world as a businessman, and it is safe to assume that he would abandon Obama's costly efforts to reach a comprehensive alliance in the region. In fact, he has already said he would like to freeze funding to the various alliances in Europe and the Middle East. As far as he is concerned, the U.S. should deal with flashpoints around the world in a pinpointed manner and deal with global challenges such as the Islamic State head on. That means that in a Trump presidency, his policy toward Israel is probably not going to be influenced by other considerations or regional constraints.

    Trump will not use Israel as a platform for various initiatives in the region, nor will the Jewish state be asked (that is, pressured) to make unilateral concessions on core issues to help bring the West closer to the Arab world. In fact, the exact opposite may be true: Because Trump will put a heavy emphasis on scaling back America's commitments at home and abroad, he might want to bolster Israel's status as a pro-Western democracy in this violent and volatile region

    Prof. Abraham Ben-Zvi


    Note: According to the latest survey by the TGI market research company, Israel Hayom has a 39.3 percent exposure rate, maintaining its position as the most read daily newspaper in Israel for the third year in a row.