June 19, 2018

The G6 vs President Trump

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Trump turns the G-7 into the G-6 vs. G-1

Shortly after Donald Trump won the South Carolina primary in February 2016, I warned in an article co-written with economist Benn Steil that “a Trump presidency threatens the post-World War II liberal international order that American presidents of both parties have so laboriously built up — an order based on free trade and alliances with other democracies. His policies would not make America ‘great.’ Just the opposite. A Trump presidency would represent the death knell of America as a great power.”

Such warnings might have sounded hyperbolic at the time. Who, after all, knew whether Trump would make good on his threats? Even in year one of the Trump era, it would have been possible to dismiss our dire prediction. Trump did not, after all, pull U.S. troops out of allied countries, exit NATO or lift sanctions on Russia. He still hasn’t done any of those things, but, hey, he’s only been in office a little more than 500 days. Give him time. In just the past few weeks, he has taken a giant step toward destroying the global system that the United States created after 1945.

https://www.washingtonpost.com/opinions/trump-turns-the-g-7-into-the-g-6-vs-g-1/2018/06/10/1d3b7276-6ccc-11e8-afd5-778aca903bbe_story.html?noredirect=on&utm_term=.2efa0bc2681f

Trump doubles down on Trudeau as analysts warn of US impact

Trump’s comments dash hopes of resolving US-Canada trade row, and may lead to economic hardships on both sides

Donald Trump has doubled down on his criticism of Justin Trudeau, warning that his stance on trade discussions was a “mistake” that would cost Canada “a lot of money”.

At a news conference on Tuesday after his summit with North Korean leader Kim Jong-un, Trump referred to the Canadian prime minister’s pledge to proceed with retaliatory measures in response to Trump’s move to impose tariffs on aluminum and steel.

https://www.theguardian.com/us-news/2018/jun/12/trump-trudeau-criticism-cost-canada-a-lot-of-money

So what will be the Trudeau Liberals’ strategy?

If Prime Minister Justin Trudeau’s remarks at the World Economic Forum in Davos, Switzerland this week were any indication, Ottawa is going to stake Canada’s economic future on our PM’s delusional, underdeveloped, anti-corporate economic understandings.

In brief, the prime minister seems to think we should bet our future on the manbun. OK, not the manbun itself, but rather what it represents — the hipster image of the corporate world, where everyone works on the next cool app or video game or social media platform, while rocking manbuns and beards, drinking pour-over coffee (fair trade, of course) made by the staff barista in the open concept, bare-brick loft, bring-your-puppy-to-work office.

GUNTER: Trudeau stakes our future on hipster economics

Trudeau’s budget still hasn’t balanced itself

It’s the line that he’ll never live down. Justin Trudeau, back when he was leader of the third party in 2014, famously said that if you commit to growing the economy “the budget will balance itself.”

He was swatting away concerns about fiscal restraint. But now, for the third year in a row, his embarrassing line has proven false once again.

The Liberal plan to improve the economy looked so great on paper. They were going to run modest deficits for three years. This was going to spur key sectors of the economy and in turn drum up new revenue into public coffers to the tune of billions. This would offset the money spent on deficits.

EDITORIAL: Trudeau’s budget still hasn’t balanced itself

Trudeau’s Spending Priorities Send Too Many Tax Dollars Overseas

It was interesting to read David Akin’s numbers on Trudeau’s dollar handouts in his first 100 days in office. By his calculations it amounts to $5.3 billion, of which slightly less than a billion dollars was spent inside Canada.

$4.3 billion spent outside of the country will buy you a lot of thanks from some organizations such as the UN or from climate change conferences. That type of spending will also earn you a lot of selfies to up your political profile. But in the end it is our taxpayers footing the bill.

https://www.huffingtonpost.ca/keith-beardsley/trudeau-deficit_b_9226722.html

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