Non-NATO Defense Spending

President Donald Trump often decries Europe’s NATO nations for their lack of seriousness about their defense, and he zealously insists that they honor their commitment to spend 2% of their national GDP on defense.  It’s arguable that Trump could ease off (a little bit) and acknowledge the progress he’s made in getting Europe’s NATO members to boost their spending.

But only a little bit because those nations don’t appear to be stepping up in any serious way, as these numbers from a recent Wall Street Journal op-ed demonstrate.

Overall inflation-adjusted military spending by every NATO member excluding America grew 1.8% in 2015, 3.1% in 2016, and 4.8% last year.

These are tokens, not real increases. A nation committing 1% of its GDP to defense that then increases its defense spending by these per centages will end up committing 1.11% of its GDP. There’s nothing serious about that.

Germany’s defense spending increase? The WSJ says that nation currently is spending 1.2% of its GDP on its defense, and it has plans for a 6% increase in next year’s budget.  Increasing that 1.2% by 6% would take it all the way up to 1.27%.

Be still, my heart.

What Hath Socialism Wrought

This image, from a Deutsche Welle article on Venezuela’s inflation rate—which last month reached 24,571% year-on-year—says it all.

The word drawn on the 100 bolivar note (and yes, it’s a real note, and it’s actually that big) translates to “hungry.”  In the context, it means more broadly, “a widespread, intense, and prolonged shortage of staple foods that a population suffers.”

Hungry indeed, too.  A bit over two pounds of meat cost about 2 million bolivars (or did once, daily inflation is running at 2.4%), or €16.9 or $20, against a surgeon’s monthly salary of not even 6 million bolivars.  Meat, not steak in particular.  That’s some expensive hamburger or shank cut.

And, not to put too fine a point on it, that works out to a bit over three ounces of meat per day, with nothing left over for anything else: vegetables, rent, transportation, etc.  And that’s for a relatively well off man like the surgeon.  What about the middle class, or especially the poort.

This is reminiscent of what Joseph Stalin did to the Ukrainians and White Russians when he collectivized—socialized—the Soviet Union’s kulak farms.

Gauntlet Thrown Down

The members of the Group of Seven, just met in Canada last week, were invited to form a tariff-free trade zone by President Donald Trump.

no tariffs, no barriers…and no subsidies.

International trade doesn’t get much freer than that.

Will anyone in the G-7 have the courage to take Trump up on his offer—or to call his bluff, if that’s what they think it is?

Anyone?  Beuller?

Brexit Failure in the Offing?

Great Britain’s Labour Party is about to offer legislation that looks a great deal like it [emphasis added].

It shall be a negotiating objective of Her Majesty’s Government to ensure the United Kingdom has full access to the internal market of the European Union, underpinned by shared institutions and regulations, with no new impediments to trade and common rights, standards and protections as a minimum.

There’s very little difference between this and Remain.  Labour is suggesting Britain’s abject surrender in the Brexit negotiations with the Moghuls of Brussels.

Maybe not failure.  Maybe this is Labour’s betrayal of the British people, who voted to leave the EU because they wanted out of the EU.

Iran’s Nuclear Weapons Deal

“Senior European officials” are sad because the deal might be in jeopardy.  They even wrote a letter to President Donald Trump, worrying that

their efforts to save the Iranian nuclear accord by maintaining major trade and investment with Tehran are buckling in the face of planned US sanctions.

My heart bleeds.  These worthies shouldn’t be trying to trade with a terrorist-supporting nation bent on getting nuclear weapons.  Especially since Iran will use those weapons to fulfill its long-standing commitment to destroy Israel, and it will sell such weapons to its terrorist clients for them to use…on Europe as well as on us.