Donald Trump has proved that he is only capable of destruction. That’s not always a bad thing. On his first day he did away with the TPP, a move I supported, and a couple months back he did took the US out of the Paris Climate Change accords, which I did not support. But it’s the prospect of his taking us out of the Iran Nuclear Deal, as he almost did last week, that is the most frightening.
The conventional fox news narrative of the Nuclear Deal does not acknowledge the diplomacy that was necessary to force Iran to the table. To truly break the deal in a way that has any impact on Iran we need all the same international partners on board. If we don’t have that, we risk making the United States look foolish and weak. Foolish is nothing new. Weak is, and it would be a real problem. Today’s video explains the stakes.
I don’t know much about the environment. I don’t even know if I think the Paris Climate Change Agreement was a good idea. But I do know that now that it exists, abandoning it is crazy. Whether you are a climate skeptic, or a climate enthusiast, the US seat at the table was vital. The agreement, as toothless as it is at the moment, is unprecedented for the scope of international participation involved. 15 years ago when Bush threw over the Kyoto protocol, it didn’t really matter. Some Europeans whined, and the developing countries were happy to do away with a possible constraint on growth. The picture today couldn’t be any more different. 195 countries have signed up for this agreement. China and India are enthusiastically on board. This is the direction the world is going. And the US has decided to go hide in the corner.
It’s embarrassing and it’s exactly the sort of thing that makes Trump’s presidency so damaging. The United States still has enough power left to keep acting like this through four or even eight years of a Trump presidency. But it’s the worst possible way to spend our last years as a hegemonic power. Today we still have enough power to ignore what the rest of the world wants. But that’s changing. The difference between the Kyoto protocol and Paris Climate accords show that very clearly. The world has tremendous resentment towards its lone superpower. Up until today they didn’t have a body to express that resentment through. US power means we dominate any club we belong to. Trump just gave the world a universal club, free of US influence. This will not be good for my country. Sad!
Immigration is complicated. Donald Trump’s wall is not. It’s a really dumb idea. It’s designed to solve a problem that no longer exists. The full range of US policy towards Mexico over the past 20 years has actually been a rousing success. NAFTA played a part, allowing large scale migration played a part, and the incredible efforts of the Mexican people were the most important of all. If it weren’t for the insanity of the US drug war, Mexico would be well on its way to being a fully developed country.
It has a middle class now. A range of businesses are experiencing new success. Mexico is on the way up. As this video points out, the excess labor force has been almost completely employed. This Wall idea, 20 years past the point at which it would have any utility, will drive a wedge between the US and our newly successful neighbor to the South. The fears of pushing Mexico into the arms of China are probably over-blown, but why would we want to risk it? The Wall is a way to further screw up the relationship between the US and Mexico at exactly the wrong time. Furthermore, it’s completely pointless, as this video lays out.
Immigration has been bugging me a lot recently. The United States is a nation of immigrants, and I’m a big fan of more open borders in theory. The more I look into the actual practice of immigration, though, the less I understand. I’m completely convinced that we need more high-skilled workers. I would eventually like to see open borders between the Americas. But I do question why we continue to pack in low skilled workers in an era when low-skilled jobs are disappearing. It’s a puzzle. There is a lot more research I need to do. But I do know that the Wall is a really bad idea. Which is why I waded into these uncertain waters. To be continued…
We certainly heard a lot about Trump and Saudi Arabia this weekend. Considering the content of this channel, it won’t surprise you to hear that I found it disappointing, and disturbing. But more than anything else it was distracting. This whole trip was a distraction from Trump’s woes back in Washington, DC. But Trump’s Saudi Arabia clown show was also a distraction from something we should have all been paying more attention to. It was good news for once!
It was all a tremendous distraction from Iran. After months of predictions that he would lose, Iran’s moderate president Hassan Rouhani triumphed in his re-election campaign. Iran chose openness, despite the repeated rejections and abuse hurled at them by the United States. This is a very big deal. The hardliners that have ruled Iran since the revolution continue to abuse power. It makes me believe that peace in the region might finally really (eventually) be possible.
But nobody paid any attention. Trump and Tillerson issued their customary condemnations of Iran this weekend, calling them out for supporting terror, even while being hosted by Saudi Arabia, Iran’s sworn enemy, and the main inspiration behind almost every terror attack of the past 17 years. Tragic stuff. It’s already causing problems for Rouhani back in Iran. This video lays out the details….
9/11 conspiracy theorists are focusing on the wrong thing. The true scandal isn’t what happened in the run-up to 9/11. It’s what Washington, DC did after 9/11 that is truly horrifying.
US Middle East Policy is a sad, sad joke. One of the central points in my understanding of the world is this: Institutions will act in what they perceive their interests to be, not the interests of the people they are supposed to serve. When institutions are crafted with this knowledge in mind, they can serve useful purposes. But once you point them in a direction, they are hard to turn around. The fundamental ridiculousness of post-9/11 foreign policy, laid out in this video, is a great example.
On 9/11 we were attacked by Saudi Arabia. But the US foreign policy establishment had decided long ago that the Saudis were are allies. So we went out and beat up on Saudi Arabia’s enemies. This never made any sense. Worse, it hasn’t worked. The US government’s policy was always going to be a failure on the measure of finding and punishing the perpetrators of the worst attack on the United States since Pearl Harbor. That was never the goal. But post-9/11 hasn’t even succeeded in the goal it chose: Protecting and expanding Saudi and US power.
So maybe we should choose some new goals?
If you want an idea of what that might look like, and a fuller recounting of the disaster that post- 9/11 US policy has been, I suggest you check out my new essay: Everybody’s Lying About Islam.
Oh Russia! As I’ve made clear, I don’t think much of the continued furor around that country’s role in the US election. But that barely scratches the surface of the silliness surrounding discussions of Russia’s geopolitical position. The US foreign policy establishment has been jawing for years about Putin’s “impending” invasion of the Baltic countries, Estonia, Latvia, and Lithuania. This has always been ridiculous. A year and a half ago I made a video pointing out 3 reasons why it would never happen. It has reached a pretty large audience.
Donald Trump’s election has prompted a new wave of Baltic paranoia, however. On the campaign trail, Trump spent a fair amount of time insulting our NATO allies. Some are afraid he won’t honor our commitments to the Baltics in the event of a Russian invasion. I think these fears are exaggerated. But what if they were true? If Russia had the all powerful military machine it is credited with then maybe the Baltics would be in trouble. It doesn’t. In fact, the 2017 Russian budget imposes a 25% cut on Defense spending. Even without NATO, I’m quite confident Russia wouldn’t invade Estonia. It’s just too dangerous for Putin. Washington, DC will continue pretending Russia is a real threat, rather than a skilled exploiter of situations in countries the US has already destroyed. For those of us outside the beltway however, I’ve put together another video laying out the dismal geopolitical situation facing Russia. I hope you enjoy it..
Remember the too big to fail banks? They are still a problem. I don’t know when the next crisis is coming, but it’s inevitable. Too many of the problems at the root of the 2008 crisis have never been solved. This video lays out how Dodd Frank made everything worse. But it has created a situation that won’t be improved by repeal. It’s one of those catch-22 things basically.
I love it when the environment I’m in inspires a video. San Francisco is an interesting place. There’s a ton of money everywhere, and a ton of poverty too. I’m currently in the midst of a tour of the West Coast, staying anywhere there is a free couch, and San Francisco has probably been the most inspiring city. That’s not necessarily a good thing. Market Street, where the bulk of this video is set, has a ton of history (For California). The street has seen multiple cycles of boom and bust since the mid 19th century. The current vibe is definitely boom.
A few blocks away the Salesforce Tower is currently going up. It will be the tallest building in San Francisco and the second tallest west of the Mississippi. It’s hard not to think of the “edifice complex”. Nothing signals a coming downturn like a massive new skyscraper. NYC’s Empire State and Chrysler Buildings went up during the beginning of the great depression. The buildings that ended US dominance in the Skyscraper game, Malaysia’s Petronas Towers, were finished in 1996, one year before the Asian Financial Crisis. The Burj Khalifa, the biggest of them all (so far) signaled a financial crisis for Dubai.
The Salesforce Tower ends the video, but it definitely cast the mindset for the whole thing. That and Wells Fargo’s hilariously bloated presence in downtown SF put me in mind of financial crises past and future. I don’t know when the crisis will hit. Who knows, we could be at the beginning of a great boom rather than its end. But if our banks continue to be structured the way they are, we’re going to be in trouble eventually regardless. Hugs!
This video convinced me to put together a new playlist “MFF on the Markets“. The channel tends to be a little more focused on history and geopolitics, but I’ve been a stockbroker and a corporate lawyer in my day, so I’ve got some stuff to contribute on the topics of law and markets when I can stomach it. I was surprised that the playlist came to 34 videos. Check ’em out!