Category Archives: markets

Sanctions and Wariness

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Congress has passed and sent to President Donald Trump a bill that increases sanctions against Russia, particularly its energy sector, and against Iran and northern Korea.  It also adds limits Trump’s ability (and State’s) to ratchet those sanctions up or down in real time in response to Russian—or Iranian or northern Korean—behavior, a fillip that adds a question to whether he’ll sign it (his veto likely would only delay the thing; the bill was passed with veto-proof majorities in both houses).

Germany is “wary” of those sanctions.

The German Committee on East European Economic Relations said US plans for tighter sanctions against Russia had the potential of harming EU firms with energy interests in their giant eastern neighbor.

It went as far as to say that the latest US move appeared designed to stimulate US energy exports to Europe.

Because nothing Evil United States does is good for anyone else.  It couldn’t possibly be that any offers to sell liquified natural gas, for instance, to Europe (a small target of our global market for LNG, and for oil) might be to free Europe—and Germany in particular—from Russian extortion.  It couldn’t possibly be, either, that our increasing exports of hydrocarbons—having as they do a depressing impact on the global price of energy—would be good for Germany or for Europe as a whole.

And this bit of nefariousness:

The committee said it expected German exports to Russia to grow by 20% this year…despite all the EU and US sanctions in place right now over Russia’s perceived role in the Ukraine and Syria conflicts.

And this threat from the German government:

[German Economics Minister Brigitte] Zypries warned against a trade war over this latest round of US sanctions against Russia, saying such a situation would be “very bad.”

Nice piece you got there.  Be too bad if something happened to it.

That’s OK, though.  We’re wary of German timidity in the face of Russian energy blackmail capability, or of their active collusion with Russia.  At least there is symmetry.

The Betrayal of Lisa Murkowski

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Lisa Murkowki is a Republican Senator from Alaska who voted against even opening debate on repeal and replace of Obamacare.

Murkowski has betrayed her constituents.  She betrayed them this week by trying to block debate on repeal and replace.  Or, she betrayed her constituents when she lied to them in 2015 with her vote in favor of repeal in the full knowledge that her vote didn’t matter because then-President Barack Obama (D) would veto the matter.

Republicans and Obamacare

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In a Wall Street Journal editorial about Republican Senators’ timorous attitude toward actual repeal and replace of Obamacare now that what they do matters, the editors had this remark toward the end of their piece:

One vote to watch would repeal ObamaCare with a two-year window to replace it, which is similar to a bill that 51 Senate Republicans voted for in 2015. We’ll see how many have changed their minds.

We’ll see how many have changed their minds.  The rest of that sentence is this: …now that their vote has actual consequences, and they can’t hide behind their virtue signaling.

International Censorship

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France wants to enforce a “right to be forgotten” law (recently enacted by the EU that allows persons to demand publicly available information about them to be erased from links in search engine results) inside other nations than the EU membership—inside the United States, for instance.  Google, et al., is demurring, and France has taken the matter to the EU’s highest administrative court, the Court of Justice.

The case will help determine how far EU regulators can go in enforcing the bloc’s strict new privacy law….

It has wider implications than that. It will set a legal precedent, explicitly for the EU to reach inside the United States and censor our Internet, and that won’t be limited to EU privacy sensibilities, or EU views on censorship.

It’s broader, still. It will set a precedent for the PRC, which can intercept messaging images and erase them from the message before the intended recipient gets the message, to be exercised inside the US.

The Court of Justice ruling—likely to be in favor of France—will need to be explicitly rejected by us, with strong cyber consequences taken against the EU on its every attempt to enforce this first step at rank censorship against us.

It’s Time

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…to sweep the ones we can’t trust from the Republican Party of Castrati and from Congress.

When Republicans voted on the repeal-only bill in 2015, they knew Mr Obama would veto it, making their vote largely symbolic. Of the GOP senators currently in the chamber, 49 voted for it at the time.  …

Moreover, many GOP lawmakers have already acknowledged that they would vote differently now that the stakes are far higher….

Now that these persons have to take action more concrete than virtue signaling, they’re exposing themselves as porch dogs.  They’re betraying their country, and more specifically, they’re betraying their constituents, to whom they promised for the last seven years, they’d repeal Obamacare and replace it.

However,

Both [Susan, R, ME] Collins and [Shelley Moore, R, WV] Capito said Tuesday they were unlikely to support the procedural vote for a repeal-only approach.

Senators even are too timid to face debate on the floor of the Senate on so simple a measure.

Capito is being especially disingenuous.

I did not come to Washington to hurt people.  I cannot vote to repeal Obamacare without a replacement plan that addresses my concerns and the needs of West Virginians.

Yet, that’s exactly what she’s doing by supporting Obamacare’s continued existence.  That program not only is devastating the pocketbooks of Americans, including West Virginians, Americans across the country are losing their health coverage plans in droves as health plan providers abandon the market in counties after counties, even whole States.  This is happening now, and it will be increasingly so as long as repeal is blocked by Senators like Capito, with or without a replacement program in hand.  Capito knows this.

Serious reform takes courage.  These worthies don’t have it; they’re quailing, even now, at a first step of repeal.

Senate Majority Leader Mitch McConnell (R, KY) is suggesting he’ll call for a vote on a straight-up repeal, to take effect in two years, during which Congress could work out and pass a replacement program or set of programs.

McConnell should hold the vote, even knowing the porch dogs will vote against repeal and so defeat it (many of whom will vote even against open debate); will vote against their promise; will contradict their vote in 2015, cast as it was deep in the safety of an Obama veto.  Put the porch dogs on record with their votes.  Let them stand exposed and identified.

This is what primaries are for.