Traditionally, I always watch the US President's state of the union address, while I ignore the address of the President of the European Commission. This year, I did the opposite & yesterday I was richly awarded by Ursula von der Leyen. ec.europa.eu/commission/pre…
Her start: "One of the most courageous minds of our times, Andrei Sakharov – a man so admired by this House
- always spoke of his unshakeable belief in the hidden strength of the human spirit.
In these last six months, Europeans have shown how strong that human spirit really is."
She focused on human values: "We are inspired by their empathy, bravery and sense of duty – and I want to start this speech by paying tribute to them all."
"This will show Europeans that our Union is there to protect all."
"We must tear down the barriers of the Single Market. We must cut red tape. We must step up implementation and enforcement. And we must restore the four freedoms – in full and as fast as possible.
The linchpin of this is a fully functioning Schengen area of free movement."
Remarkably, von der Leyen did not even mention the US, but stated: "We might not always agree with recent decisions by the White House. But we will always cherish the transatlantic alliance – based on shared values and history, and an unbreakable bond between our people."
"we will propose to extend the list of EU crimes to all forms of hate crime and hate speech – whether because of race, religion, gender or sexuality.
Hate is hate – and no one should have to put up with it."
von der Leyen stands for a new EU commitments for values: "Be it in Hong Kong, Moscow or Minsk: Europe must take a clear and swift position.
I want to say it loud and clear: the European Union is on the side of the people of Belarus."
I just hope that the EU really (finally!) acts accordingly. This was a very inspiring speech.
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A few thoughts about Trump's trade policy: 1. Nothing in his trade policy makes sense. The US has not been ripped off but benefited from its exorbitant privilege that foreigners wanted to invest in the US & US treasuries before madman Trump destroyed it all.
2. Trump insists on extreme protectionism with tariffs up to 50% & probably with an average of 25%, while they used to be 2.5%. This makes no economic sense as pretty much all economists know. Trump is damaging the global economy, but most of all the insular US economy.
3. Worse, Trump focuses on tariffs because there he has complete power. To enforce his power, he changes his policy virtually every day. There will be no stabilization as many have hoped. Thereby, Trump has made it nearly impossible to invest in the US.
Tomorrow on June 24, the NATO summit will start with a dinner & conclude with a minimal session on June 25.
All fear that Trump will declare that he loves Putin - his kleptocracy, autocracy & imperialism. Yes, Trump is awful. State that! /1
Next, the ideologically real NATO members are afraid that Trump will attack Ukraine, while the whole purpose of NATO is to stand up to Russia and defend free democracies, but Trump hates democracies and freedom. /2
So why are the other NATO members sucking up to the US? Because the US has the biggest and finest military resources. That does not matter much to the other NATO members when Trump behaves like an imperialist (=enemy) wanting to seize Greenland & Canada. Trump is the enemy. /3
Trump's economic policy: 1. Wild protectionism = less growth & investment. 2. Changed policy every day = complete uncertainty. 3. Undermining the rule of law & property rights. 4. Driving foreign investors & nationals out of the US. 5. Hindering profitable immigration.
/1
6. Minimizing government support to research. 7. Harming the best US universities. 8. Risking fiscal unsustainability. 9. Harming the poor to cut taxes for billionaires. 10. Blatant personal corruption.
Trump stands for an economic disaster like 1929.
/2
If democracy survives in the US, the consequences will be massive, as in the 1930s: 1. If a budget deficit can no longer be financed, it has to be balanced. 2. Given the minimal US federal expenditures, taxes on the very rich have to rise sharply. They were max 91% until 1962. /3
A few thoughts on Russia's war against Ukraine: 1. Trump does whatever he can to support Putin. His problem is that most republicans support Ukraine, so he gives them an opportunity to cheat themselves to claim that Trump supports Ukraine. /1
2. Consequently, Trump always finds a reason not to increase sanctions on Russia. Yet, the republican opinion compels him not to ease the existing sanctions.
Conclusion: Shame the hypocrite Trump so that he does not dare to turn fully against Ukraine! /2
3. Both Europe & Ukraine need to shame Trump into playing an ally against russia (which he is not, while the US is).
But don't count on the GOP cowards in Congress to stand up against Trump!
Arm Ukraine & yourselves as fast as possible! /3
My understanding of the Trump-Musk conflict: 1. Musk considers that he bought Trump's presidency & that Trump should behave as his obedient servant. 2. Trump acknowledges that Musk bought him & allowed dozens of regulatory concerns to lapse & $20 billion of gov contracts. /1
3. Neither could care less about any social safety net for the poor. 4. Both wanted to minimize taxes for billionaires at the expense of the poor. 5. Musk wants to punish the poor even more than Trump to reduce the budget deficit. /2
6. Trump, with his experience of bankruptcies, could not care less about US financial sustainability, while Musk apparently does. 7. Trump opposes all immigration, while Musk wants to give smart Indians H1B visas. 8. Musk is deeply wedded to China, while Trump is hostile. /3
It is frustrating to read most American comments on Trump.
They tend to think that Trump is a serious president favoring the US. Instead, they should take the lunacy he utters seriously.
At best, Trump pursues his own PR, but more likely it is just lunacy. /1
Trump has made plain that most of all he is interested in enriching himself & his family.
South African President Cyril Ramaphosa caught the essence: “I'm sorry we don't have a plane to give you.” Incredibly, Trump responded: “I wish you did. I'd take it.” /2
Trump has also made clear that he could not care less about democracy, the rule of law, truth, science, healthcare, US reputation in the world, etc.
He has abandoned all traditional universal, American & Western values. /3