Where's the Beef???

 

Friends, although this Trump-like buffalo may not have the answers I seek, I believe it's reasonable to ask whether some of Trump's boasts online have any relationship to reality.  For instance, President Trump has announced that CNN, MSNOW, and Politico will be "banned" from the White House, because they are major sources of fake news.  Well, no kidding!  Trump tried this back in his first term with Jim Acosta, the CNN White House reporter, who was temporarily ejected from the White House but soon returned because federal judges felt that he had a constitutional right to be there.  So what's Trump's plan this time to get around the courts?  We don't know.  Perhaps there is no plan, but I would say that one of my biggest gripes about Trump's second term thus far is that he has utterly failed to impose any discipline on the media regarding its twisting of the facts and its blatant and scurrilous campaign of slander against him.  Consequences have repeatedly been threatened --like taking ABC off the air -- but they invariably come to naught.  Well, the media has gotten the message that Trump is a paper tiger, and thus they, the Fourth Estate, can get away with anything and everything.  This is unacceptable!!!  Even if Trump and Republicans can't "ban" certain alleged news outlets, they can certainly stop answering their questions.  Indeed, we should have taken that step a long time ago.

 

https://www.bbc.com/news/articles/c6e30580jqjpo 

 

In a similar vein, all Trump's brave talk of annexing Greenland, and plenty of other places, has fallen flat, and now we appear ready to ink an agreement with Denmark that will give us the lead in providing security for Greenland, but which will not give us sovereignty over Greenland.  Sounds like a great deal for...Greenland and Denmark!  Again, sorry, President Trump, but empty threats apparently don't achieve much, other than diminishing your own credibility.  Think before you speak!  That's my advice.

 

https://www.bbc.com/news/articles/c63d7lexyym1o 

The Finance Nerds Have Spoken!

 

Friends, it's official: the Fed has raised interest rates for the first time in three years.  Big deal, you say (while rolling your eyes)?  Hey, sarcasm is the laziest form of humor, you know.  It really isn't a big deal, in itself.  A quarter point here or there won't cause anyone to panic.  What this means, though, is that: A) our long struggle against inflation isn't over, by a long shot, and B) the Fed probably realizes that no one will be buying our government bonds going forward unless we pay a decent rate of interest.  Fair enough.  The problem, as I've pointed out countless times before, is that America's business model, and particularly its spendthrift public finances, are based on easy credit.  When that credit becomes less easy, well, the consequences could eventually be profound.  Eventually, but not today...so relax!

 

https://www.cnbc.com/2026/09/16/fed-rate-decision-september-2026.html 

25 Years Later

 

Friends, not only was the legacy of the 9/11 attacks a major topic in the news this past week, but I happened to visit the 9/11 Memorial and Museum the day before the 25th anniversary!  It was...sobering, and of course very impactful for anyone who lived through that day.  My sense of normalcy was shattered in the space of a few hours.  I'm sure you can relate.  One can certainly debate whether our reactions to those events were entirely rational or appropriate, but that those events, and the consequences thereof, were historic, well, no one can question that.  I invite your reflections on the big anniversary!

 

 

In other news, we notched another FABULOUS Newsmakers show this week, covering everything from the cultural significance of the decline of broadcast television, to the evolving U.S. strategy to contain (or destroy) the Islamic Republic of Iran, to the ongoing battles over tariffs (foreign AND domestic).  Check it out!

 

https://wysl.podbean.com/e/newsmakers-9-12-26/ 

It's Raining Money!

 

Friends, Not content with putting his face on legal tender currency, DJT is now promising every adult American $5,000 if Republicans win the House and Senate in November.  Wow!!!  If you ask me, this is a dreadful idea on so many levels, the first being that we've got an almost $2 trillion yearly deficit, and Trump is proposing to add to it.  More importantly, I suspect the brazen pandering that this represents will be seen for what it is by the American people.  Trump threw money in all directions in 2020 in an effort to get reelected, and we all know how that turned out.  I doubt this gambit will be any more successful, or will be any more likely to produce those $5,000 checks.  But hey, the voters aren't universally bright, and they sure like freebies, so who knows...  Maybe this is what American politics boils down to these days: whoever promises more free stuff, WINS!!!  The truth is, as I see it, that Trump has accumulated a strong record in his second term and has already made life better for most Americans.  This dividend business may distract from that record, and that's a shame, but that's just my two cents.

 

https://www.bbc.com/news/articles/c62kzr1jg0jo 

Red, Black, and Gold Alert!

 

Friends, the German establishment is girding its loins in the wake of the AfD's blowout win in provincial elections.  The "far right" party didn't achieve a majority, but it came amazingly close in a country with at least half a dozen viable parties.  There's a good possibility, however, that all the other parties will come together to form a coalition that excludes the AfD, because...fascism!!!  That might work in the short term, but can the powers-that-be in Europe ignore the people forever?  We shall see.

 

https://www.bbc.com/news/articles/cpd0113082eo 

Good News/Bad News

 

Friends, as per Elon Musk, the robots are coming for your jobs!!!  Jobs are kinda dumb anyway, but some of you may still consider this "bad news", since it's nice to have a paycheck.  The good news, for EVERYONE, is that robots will do for mankind what automation already has: make production vastly more efficient, raising the global standard of living to undreamed of heights.  This is just one of the topics that Brian and I cover on this week's Newsmakers show.  We also consider the medium term outlook for the US-Iran conflict, the truth about conflicts between Trump and Vance, the debate over data centers, the rights and wrongs of our fancy new ballroom, the two faces of John Roberts, and the recent Dutch decision to withdraw some of their gold reserves from the Fed in NYC.  It's quite the intellectual smorgasbord this week, folks!

 

https://wysl.podbean.com/e/newsmakers-9-5-26/ 

 

In other news, it's refreshing and very heartening to see a lot of countries walk back their opposition to nuclear power.  Hey, I guess it's true: necessity really is the mother of invention!  The world needs POWER, and it's willing to bust a few atoms to get it, apparently.  Very sensible.

 

https://www.washingtonpost.com/opinions/2026/09/05/japan-nuclear-energy-embrace-reflects-global-shift/ 

The Gold Standard

 

Friends, we abandoned the gold standard (by which the dollar was exchangable for gold) back in 1971, but let's not waste time reconsidering that decision.  Today I want to draw your attention to the fact that the Dutch have decided to move a lot of their gold reserves from the U.S. and Canada to the U.K.  Big deal, you say?  (Meaning that it's actually a small deal...)  Well, yeah, in itself it doesn't mean much, but we can't deny the fact that international confidence in the U.S. political system, and by extension our economic system, is flagging.  The U.S. dollar is still the reserve currency, but the world's appetite for dollars, and for U.S. government bonds, is dwindling.  To some degree that was always inevitable, but on the other hand the reign of DJT, and the contempt that most of the world holds him in, is relevant, because it accelerates the decline of American economic hegemony.  Don't get me wrong: in many ways, the U.S. economy is strong and is even the envy of the world.  Despite this, we shouldn't kid ourselves: possessing the global reserve currency allows us to live far higher on the hog than would otherwise be the case.  We can spend like drunken sailors because the world has decided that we're "good for it".  Slowly but surely, the world is reconsidering.  That matters.  Someday, it may matter a whole lot more than it does today.

 

https://www.bbc.com/news/articles/cvgy51xlz39o 

 

But there's hope!  Countries can lose their economic hegemony without falling into terminal decline, and even without severe economic trauma.  The U.K. is a good case in point.  The British used to rule the seas, and more importantly they had the world's reserve currency: the pound.  That was all terrific, until the cost of two world wars, and the meteoric rise of two superpower competitors, made Britain a second rate power.  The standard of living of the British people, however, continued to rise, and, quite wisely, the British hitched their wagon to the American star, and all was well.  Anyway, on to the "hope" part: Elon Musk says that, in the near future, A.I. and robots will cause a spectacular, unprecedented rise in the productivity of the American and the world economies.  I believe he's right.  The timescale can be debated, but very fundamental changes are coming that will make life easier and more prosperous for almost everyone.  This may well make a "soft landing" for the USA a lot simpler.  I sure hope so.

 

https://www.breitbart.com/tech/2026/09/02/elon-musk-predicts-1-billion-humanoid-robots-will-outproduce-all-of-humanity-in-10-years/ 

Big Beautiful Ballroom

 

Friends, in another welcome sign that the Supremes are eager to bend the knee to His Majesty Donald I, SCOTUS today allowed the Trump Administration to resume construction on the famous mother-of-all-ballrooms.  Hooray!  I hope it includes a throne room, and I'm NOT refering to the executive washroom either.

 

https://www.bbc.com/news/articles/c9w457e7ydlo 

 

In other news, Trump is defending the construction of data centers, despite concerns that they suck down water and electricity resources and thus increase costs for ordinary Americans.  As usual, I'm with Trump!  Did we fret during the Industrial Revolution that factories would use natural resources or energy, and thus raise costs for consumers?  Of course we didn't.  Industrialization was the only game in town, and you could either play it or sink into poverty.  The same is true of the information age: we have no choice but to participate, and the last thing we want to do is erect artificial barriers to the expansion of our digital infrastructure.  Individual Americans can moan about AI and the "internets" all they like, but technology is the future, and we need to be on the cutting edge.

 

https://www.washingtonpost.com/politics/2026/08/31/trump-says-voters-who-oppose-data-centers-will-kill-golden-goose/ 

Insolvent Mullahs

 

Friends, on this week's Newsmakers show, Brian and I reflect on the increasingly desperate economic predicament of the Islamic Republic of Iran...or more accurately of its miserable inhabitants, since the leadership seems to be somewhat oblivious to the suffering of ordinary people.  But for how long?  Iran can only sink so far before even the mullahs have to reacquire some sort of grip on reality.  In addition, Brian and I talk over class changes in the last several generations in the U.K. and the U.S., the expansion of SpaceX infrastructure in the context of the recent softening of the Trump-Musk relationship, the precipitious rise in our national debt, the feasibility of third party candidates for high office, and more!!!

 

https://wysl.podbean.com/e/newsmakers-8-29-26/ 

 

In other news, DJT has announced a big new deal to expand Venezulean oil production, and to channel a lot of the profits into American hands.  Sounds nice!  Can the government there be trusted, and will private enterprise play ball, as it undoubtedly would need to in order to make production rise?  We shall see.

 

https://www.bbc.com/news/articles/cx2zlwe7qj1o 

Good Bye, Dolly!

 

Friends, I won't pretend that I'm a country music fan or that I knew diddly squat about Dolly Parton, but I saw 9 to 5 and quite enjoyed it, so allow me to join the chorus of voices wishing ole Dolly Godspeed!

 

https://www.bbc.com/culture/article/20201204-how-dolly-parton-became-the-worlds-best-loved-celebrity 

 

In other news, everyone's favorite trillionaire, Elon Musk, is about to build another sprawling "Starbase" -- this time in the great state of Louisiana.  The sky is the limit when it comes to Musk and SpaceX, if you ask me.  I would buy stock in SpaceX before I would buy it in Tesla, that's for sure.

 

https://www.bbc.com/news/articles/cq5xel4v642o 

 

Finally, you may have heard that we've unleashed economic armageddon on the Iranians.  Well, why not?  This does rather beg the question of why we didn't put maximum pressure on Iran at the beginning of the conflict, but hey -- better late than never.  Iran really does seem to be struggling economically.  Why the leadership there thinks all this is a good idea is beyond me...  I know we're the "Great Satan" and all, but why poke Satan in the eye?  Seems to me the mullahs have bitten off more than they can chew.  They might end up defrocked, or even decapitated!

 

https://www.washingtonpost.com/opinions/2026/08/25/scott-bessent-is-right-about-iran-attack-economy/