Der Stand der Dinge - 3.6.2020
News: Let’s recap Orange Don Quixote’s achievements so far over the last couple of weeks:
- Pressured state governors to relax lockdown restrictions, favouring economic growth over citizens’ health
- Pulled out of the World Health Organisation
- Instead of empathising with protests against police brutality and racism, he declared virtual martial law in Washington DC while threatening to do the same nationwide
- He used the protests as a backdrop for an election rally/photo opportunity in front of a church damaged during the riots, in the process dispersing peaceful protesters through the use of tear gas and rubber bullets
- Plans to curtail the First Amendment in an attempt to kowtow his preferred social media platform (Twitter) which is flagging questionable posts (check Fact Checker!)
Pretty good going (not). Remember: it’s all part of MAGA…
After Corona-virus, we now observe a profound change in American society. Trump probably realises that this change is something that is out of control, which is why he is bringing out heavy weapons (literally). Remember, US policemen for the most part go on patrol better armed than most armies in the rest of the world so if the unrest cannot be quelled by police forces and requires US Army intervention, feelings are running very deep. That wasn’t part of Trump’s re-election plan…
Not that the situation is much better elsewhere: in Brasil Bolsonaro resides over a Covid-19 pandemic whose infection trajectory daily is still gapping higher at an exponential rate while in Russia Putin is in the similar situation (delete “exponential”). Putin’s political aims mirror Trumps, with the difference that Putin is manoeuvering to stay in power until 2036(!) rather than get re-elected for another four years.
As individuals we need to observe critically our elected politicians’ behaviour. Stupid as it may be at times, we need to hold them to account when they hang on to traditional customs that preclude disabled members of parliament from participating in debate and votes. Yesterday’s example, provided courtesy of the Circus of Westminster, was only possible because Boris Johnson is surrounded by a bunch of career politicians who prioritise hanging on to their jobs over the modernisation of voting practices.
During the UK Covid-19 afternoon press briefings of late the “scientific advisers” have been notable by their absence. Only a cynic would surmise that Sir Patrick Vallance and Chris Whittey have got fed up with having to justify dodgy test statistics or strategic advisors’ personal exceptions to lockdown restrictions.
In Brussels Brexit negotiations are continuing. In this case no news is bad news. The game of brinkmanship continues.
Financial Markets: Stock markets continued their recovery yesterday, with today’s European opening also looking good.
Check here for Regulatory News. Hungary has tightened rules governing foreign investment.
Stay safe!