British Sovereignty and British Exit from the EU

Chatham House, The Royal Institute of International Affairs, has a paper out claiming that Great Britain’s perceived need to go out from the EU in order to preserve its sovereignty is “misguided.”

It’s possible to see the misguided perception of Chatham House from the Executive Summary of its paper.

  • The question of sovereignty lies at the heart of the UK’s upcoming EU referendum. …
  • This ignores the fact that successive British governments have chosen to pool aspects of the country’s sovereign power in the EU in order to achieve national objectives that they could not have achieved on their own, such as creating the single market, enlarging the EU, constraining Iran’s nuclear programme, and helping to design an ambitious EU climate change strategy.

And yet creating a (European) single market or enlarging the EU have nothing at all to do with British sovereignty, even were these things on the whole useful to Great Britain.  In many respects the former would be, but it can be accomplished as well with the Brits outside.  And, of course, joining an extra-national organization and one that is granted authority over (some of) a nation’s domestic affairs can only come at the expense of the nation’s sovereignty.

Then, too, the EU has done nothing to constrain Iran’s nuclear program, weapons or peaceful.  The “agreement” that President Barack Obama (D) got with Iran—over France’s strong objections and over Great Britain’s tepid objections—has instead formalized Iran’s ability to develop and field nuclear weapons.

The EU’s climate change strategy, ambitious or not, can only work to the detriment of Great Britain, damaging as that strategy is to the national economies of the EU constituents, especially given that there is very little human involvement in climate change, for all the economic benefits accruing to climate change pseudo-scientists.

  • Apart from EU immigration, the British government still determines the vast majority of policy over every issue of greatest concern to British voters—including health, education, pensions, welfare, monetary policy, defence and border security. The arguments for leaving also ignore the fact that the UK controls more than 98 per cent of its public expenditure.

Apart from EU immigration….  No sovereignty question here.  Mm, mm.  Nor is that 2% of public expenditure dictated by that extra-national body.  Nossir.

  • The British economy has prospered in the EU. The UK boasts higher economic growth and lower unemployment than most major developed economies. …

Carefully elided in this is that Great Britain is not in the eurozone.  How much better could the Brits’ economy be were they completely gone from the EU?  Hopefully, we’ll find out.

  • [T]he UK would be excluded from the process of EU rule-writing, making it a less attractive location for foreign investment.

This doesn’t follow at all.  Great Britain also would be free to write its own rules, making it a far more attractive location, absent the EU’s heavily bureaucratized system, a system that’s also heavily anti-competitive.

And so on.  But RTWT.

National Security and Economic Relations with the PRC

The Fiscal Times had a thought.

There is an emerging danger that rivalry for strategic influence in the western Pacific will damage trade and investment relations.

As if this is a bad thing.  “rivalry for strategic influence in the Western Pacific” is a euphemism for the PRC’s seizure and occupation of the South China Sea and the islands in it, and the PRC’s terraforming of many of those islands and subsequent construction of military bases on them.

The only reason for the grab and the military build up is to intimidate the other nations rimming the Sea, nations who are, variously, our trading partners, our friends, and potentially our allies—and friends.  The PRC’s goal is to drive us out of the Sea, which can only damage our trade and investment relations with the region as a whole.

Our economic relations with the PRC do not need to come at the expense of any of that.

A Good Thing about Price Wars

…on the geopolitical stage.  Dan Strumpf and Jenny Hsu talked about a broader question in their piece in The Wall Street Journal; I want to focus on one aspect of it.

Stiffening competition from countries such as Russia and Iran is threatening Saudi Arabia’s longtime hold over markets including China, Japan, and India.

It’s certainly true that stiffening competition is threatening Saudi Arabia’s longtime hold over market pricing; however a hold over markets is quite another oil well.  Saudi Arabia has held throughout this supply explosion’s depressing effect on oil prices that it’s not going to reduce production rates and sacrifice its market share—its hold on markets—on the altar of pricing.  Furthermore, the kingdom’s replacement of its aging market share hawk with a younger market share hawk would seem to indicate a continuation of the Saudis’ position that they will do what they need to do to preserver that share (and that hold).

So, what does competition do, particularly with regard to oil-hungry customers like the PRC, Japan, and India?

It generates a price war.  Don’t look for oil prices to rise significantly above current levels (OK, maybe they’ll go as high as $60-ish).

Russia and Iran can’t afford those prices; their budgets can’t hack them.  Saudi Arabia can, for quite some time, yet.  That alone makes this particular price war attractive.

The Left Doesn’t Like Free Speech

Especially when it differs from the Left’s holy writ.

The political left is threatening to boycott companies that contribute to a GOP convention that could nominate Donald Trump.

Color of Change, MoveOn.org, CREDO and UltraViolet, et al., are threatening to job businesses that support this year’s Republican convention, but not this year’s Democratic convention.

Of course, the rank cowardice of today’s business “leaders” contributes to the Left’s assault.

The campaign appears to have already succeeded in getting Coca-Cola to limit its GOP convention support to $75,000 this year, compared to $660,000 in 2012.

And

In 2012 Color of Change led a similar assault on companies supporting the American Legislative Exchange Council, which promotes free-market policies in the states.  …  ALEC’s reward for decades of pro-growth advocacy was to see its biggest contributors—Coke [again!], General Electric, Kraft, McDonald’s, Wal-Mart —drop funding and head for the tall grass.

Such cowardice shouldn’t be rewarded; this surrender to threatening speech merely contributes to further assaults on speech—one of the most basic freedoms of our Republic.  But, then, cowards don’t like free speech, either.

Obamacare Strikes Yet Again

Insurers will seek significant premium hikes under President Barack Obama’s health care law this summer….
…
For example, in Virginia, a state that reports early, nine insurers returning to the HealthCare.gov marketplace are seeking average premium increases that range from 9.4% to 37.1%.

And

The health law’s nagging problems center on lower-than-hoped-for enrollment, sicker-than-expected customers, and a balky internal stabilization system that didn’t deliver as advertised and was already scheduled to be pared back next year.

Who is truly surprised by this?  Oh, yeah….